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3.4.1 Introduction
Our operational activities in Western Australia are centred on the St Ives and Agnew Gold Mines, both of
which have highly prospective opportunities for reserve growth and life extension. Gold Fields also has
an extensive portfolio of greenfields exploration in the Region, including the East Lachlan joint venture
projects in New South Wales and the Batangas joint venture projects in the Philippines.
During C2010, we signed an US$340 million option agreement for a 60% option on the Far South East
(FSE) project in the Philippines. The FSE project, which is located in northern Luzon Island, sits on one of
the world’s richest gold-copper porphyry bodies. During C2011, we plan to complete an extensive drilling
programme to confirm the high-grade zone and commence a feasibility study (p120)
Both St Ives and Agnew retained
their OHSAS 18001 and ISO 14001
certification after undergoing
independent external compliance
audits during F2010. Both mines are
fully compliant with the International
Cyanide Management Code.
 Performance in C2010
Overall, continued stabilisation
of mining operations in C2010
has provided a solid platform for
consistent gold production. St Ives
performed particularly strongly, at an
annualised run rate of approximately
500,000 ounces in the six months to
31 December 2010.
We have completed the transition
to owner mining at Agnew, and will
investigate opportunities elsewhere in
our operations in C2011.
Both mines have active near-mine
exploration programmes. Since
June 2010, the Region’s Mineral
Reserves increased by 18% to 4.14
million ounces. In part, this was due
to ongoing delineation of the Argo-
Athena camp at St Ives, as well as
deep directional drilling at Agnew.
Long-term maintenance of the strong
NCE margin for the region will be a
major continuing focus for C2011.
1 See p76 for explanation of methodological
changes that have contributed to an increase
in LTIFR in the Australasia Region
Outlook for 2011
The Regional target of 1 million
ounces in the next five years remains
our core growth objective. In C2011,
we plan to achieve safe production
targets, and implement our major
capital projects while maintaining
our targeted NCE margin. Specific
planned actions include:
- Continuation of the Business
Process Re-engineering at St Ives
and Agnew
- Bringing our Athena development
at St Ives to full production and
the Songvang open pit at Agnew
into production
- Ongoing construction of the Hamlet
deposit at St Ives
- Stabilising production at Agnew
- Continued exploration for reserve
growth at Agnew and St Ives
Continuity of energy supply is a major
challenge for mining operations in
Western Australia. The regional gas
market is highly dependent on a
small number of suppliers and critical
energy infrastructure is relatively
closed-off from the rest of the
country. The map (right), prepared by
Maplecroft, highlights the proximity
of our mines to critical energy
infrastructure in Western Australia. |
