Damang mine to up production to 240,000 oz a year

Gold Fields set to extend life of Damang mine by 15 yrs

South Africa's Gold Fields (GFIJ.J), the world's No. 4 gold producer, will boost output by 20 percent a year at its Damang mine in Ghana after installing a new secondary crushing plant.

Gold Fields said in a statement on Friday the new crusher would help boost gold production at the Ghana mine to 240,000 ounces a year in the medium term from 200,000 ounces.

"The installation of the secondary crusher is an important step toward the transformation of Damang into a long-life mine and we expect improved production over the next few quarters," Nick Holland, Chief Executive Officer of Gold Fields said.

"It also contributes to our strategy of increasing attributable production from our West Africa region to at least one million ounces a year over the next five years."

Holland said the company -- which also has mines in South Africa, Australia and Peru -- said it aims to extend the life of Damang by at least 15 years by 2025.

Gold Fields said on Thursday it still aimed to reach an output target of 1 million ounces a quarter, and could achieve this in 12 to 24 months.