Gold Fields eyeing up further Oz mines

Gold Fields, one of the world's largest gold miners, has claimed there is potential for another two mines near the St Ives operation in Australia, News.com.au reports.

The company's head of operations in Australia, Neville Bergin, said that exploration had uncovered several sites that hold potential.

"Over the course of the last 18 months we have undertaken an extensive exploration program throughout the tenements at St Ives,'' he said.

"That work has yielded, I think at the last count, about 22 new targets. They are not all going to turn into mines, but some of the follow-up drilling that we have done encourages us to believe that there is certainly one or two that are going to become mines.''

St Ives is located in Western Australia.

Gold Fields also recently announced that it has lifted the capital cost estimate for developing the South Deep gold mine, which is located in South Africa.