Gold Fields to spend up to $500m on mines

Johannesburg - South African bullion producer Gold Fields [JSE:GFI] can afford to spend $300 to $500m on an acquisition but is only interested in working mines, its chief executive said.

Nick Holland told the Reuters Africa Investment Summit on Tuesday the bulk of mines that fell into that category were in Africa and the Americas and the window of opportunity to strike such a deal was within the next year.

"We think our ability to do a new deal is somewhere between $300 and $500m ... And there are quite a few opportunities within that range and value," Holland said.