Macroeconomy/Finance

Gold Fields launches $269 mln bookbuild to fund Chilean mine

Multinational gold producer Gold Fields will place new shares with a view to raising around $269 million in order to develop its Salares Norte silver-gold mine project in Chile. The share placing represents around 5% of the company’s existing ordinary shares. Salares Norte is expected to have an initial 11.5 year life of mine, with an average annual production of 450,000 ounces of gold over the first seven years, according to Gold Fields. Production is expected to kick off in 2023.

Source: Fin 24