* Chucapaca investment jumps to $1.2 bln from $750 mln
* Feasibility study at Chucapaca ready in second half 2012
* Gold Fields looks to start Chucapaca ops by end-2015
By Fabian Cambero
SANTIAGO, April 18 (Reuters) – South African miner Gold
Fields, the world’s No. 4 gold producer, increased the
initial investment for its Peruvian Chucapaca project to $1.2
billion, the company’s vice president for South America told
Reuters on Wednesday.
Initial investment at the Chucapaca gold project, which Gold
Fields is developing with Peruvian top precious metals miner
Buenaventura , was previously reported at $750
million.
“It’s a project that will require a substantial investment
of resources … $1.2 billion initially and then $300 to $400
million during the mine’s life to maintain operations,” company
Vice President Juan Luis Kruger said.
Gold Fields expects to submit the environmental impact study
for the gold project and to complete Chucapaca’s feasibility
study during the second half of 2012, he said.
Mineral resources at Chucapaca have increased to 7.6 million
ounces of gold equivalent from a prior estimate of 5.6 million
ounces of gold equivalent.
Continued…
