Gold Fields Buys Stake in Gold Project in Philippines

Reuters reported that Gold Fields (NYSE:GFI) made a down payment to exercise its option for a 40% stake in a Philippines-based gold-copper project.

As quoted in the market news:

Gold Fields, the world’s fourth-largest bullion producer, said in a statement it had taken the stake after making a $110 million down payment this week and retained the option to acquire an additional 20 percent in the Far Southeast Project.

Click here to read the full Reuters report.