Gold Fields Implements Strategic change

Gold Fields is a huge gold producer and has mines currently in South Africa, Australia, Peru and Ghana, amounting to 6 mines in total. These 6 mines are responsible for producing 2 million ounces of gold.  The mineral resource based business is part of the primary list namely JSE Limited as well as the New York Stock Exchange NASDAQ Dubai Limited, Euronext in Brussels and the Swiss Exchange. Earlier this year, Gold Fields re-organised its South African mines – Kloof, Driefontein and Beatrix mines –into a separate business listed as Sibanye Gold finalising the reformation of its company which entailed agreeing to management takeover of its Biox division. Gold Fields up to date is an entirely mechanised mining organisation that in South Africa merely has 1 deep mine called Deep South. Gold Fields is confident that there is nothing else pending in terms of company restructuring. Biox is a minor business within Gold Fields that uses specialised and original technology for gold extraction from “stubborn” or sulphide ores. Many successful and well established businesses employ Biox technology such as Pan African Gold and more. Technology as such links up with complex processes which involve crushing the ore and placing it into massive tanks so that bacteria can “eat” the sulphur thus releasing the gold. Through pressure leaching or roasting sulphur can also be treated but these methods are not environmentally friendly. In the late 1970’s Biox was established while Aster was established in 2008 and removes thiocyanate and cyanide. At the moment Gold Fields is designing and implementing major strategic change throughout the business. The corporation felt strongly that the Biox and Aster technologies would best be functioned under a focused and knowledgeable management ‘squad’. Source