Salares Notre Project with another delay

Delay

GOLD FIELDS has announced that the Salares Notre project will start production in April 2024. This is the next delay. The previous date was December 2023.

The construction of the mine has started in 2020. The production was expected to begin in 2023. However, the $1 billion project has approached a few delays due to COVID-19 and weather conditions.

Advance

The project is now nearly completed (99,3% of advance). It requires improvements in the commissioning process: critical safety aspects, staff availability for the primary contractor, and late configuration changes.
The company statement informed that: „Current pre-commissioning and commissioning of the project has, however, encountered difficulties impacting on the delivery of first gold.”

Expected production

As a result of further delay, the production has been revised down. It is expected that the total amount of gold equivalent will drop from 400,000-430,000 to 220,000-250,000 ounces of gold. The Slalare Notre project is expected to produce 600,000 ounces of gold in 2025.