Gold Fields (Gold Fields) (JSE, NYSE: GFI) is pleased to announce the sale of its palladium-rich, polymetallic Arctic Platinum Project (APP) in northern Finland. The buyer is a Finnish subsidiary of private equity fund CD Capital Natural Resources Fund III (CD Capital), headquartered in London.
Nick Holland, CEO of Gold Fields, commented:
“The divestment of APP is consistent with our strategy of divesting non-core assets, and reinforces the focus that Gold Fields continues to show in relation to its asset portfolio.
We are pleased to have balanced the purchase price between up-front cash and continued long-term exposure through the royalty, and believe this to be a positive outcome for both parties.”