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The project is about 15% built and is scheduled to be completed in late 2022, with first gold production in early 2023.
Salares Norte is planned to produce an average of 450,000 ounces a year of gold-equivalent over its first seven years and 355,000oz/y gold-equivalent over its first 10 years, at an estimated all-in sustaining cost of $552/oz, with an 11.5-year mine life.
Salares Norte will enable the company to maintain annual production of 2-2.5Moz/y for the next 10 years.
Salares Norte will be GoldFields' second mine in Latin America, joining Cerro Corona in Peru which produces about 291,000oz/y gold-equivalent.
Shares in Gold Fields are trading at $9.57, valuing the company at US$8.5 billion.
