Gold Fields exec calls on majors to ‘lean in’ on gold exploration
Gold Fields greenfields exploration VP Matthew Crawford has called on major gold companies to play a greater role in early-stage discovery, saying the burden of exploration is increasingly being shouldered by junior miners.
In a speech delivered at the Diggers and Dealers conference in Kalgoorlie, Australia, Crawford warned that the industry was not discovering enough new gold and that seniors needed to “step up, lean in, support with capital, support with technical capabilities, and also provide that long-term commitment”.
“The juniors are doing a lot of the heavy lifting,” he said. “At Gold Fields, we are discovery-focused, but we are also here to build mines. We have the capabilities, we have the capital, and we are ready to partner.”
Crawford outlined how South Africa-headquartered Gold Fields is backing its belief in greenfields exploration with a renewed push across Australia, Chile, Peru and more recently, Canada. This includes the company’s first drilling in Queensland since 2013 – a development he described as “a milestone for us in Australia”.
Gold Fields produces about one-million ounces a year in Australia and is a top-three domestic producer, with strong positions in St Ives, Agnew, Granny Smith and Gruyere joint venture. It is expanding its footprint, with the recently announced A$3.7-billion takeover of Gold Road Resources expected to close in October. The deal would give it full control over Gruyere.
Globally, Gold Fields is one of the world’s top ten producers, delivering between 2.0-million and 2.45-million ounces a year across nine operations on four continents. Recent developments include the successful ramp-up of Salares Norte in Chile, a greenfields discovery made by Gold Fields in 2011, now set to produce up to 580 000 oz in 2025 at an all-in cost below $900/oz.
Another key growth asset is Windfall in Canada, acquired from Osisko, with a 7.4-million-ounce resource and a large land position set to be aggressively explored.
“We are not just building for ounces, we are building for a sustainable future,” said Crawford, highlighting a A$300-million renewables investment at St Ives that will supply 73% of power needs and cut emissions by 50%.
He stressed that Gold Fields’ success in discovery and development was grounded in its environmental and social performance, strong community partnerships, and inclusive workplace culture. “It is pretty simple: it is do what we say we are going to do – and that is how we build trust.”
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