Gold Fields makes $66 mln payment on Philippines project

Gold Fields, the world's fourth largest gold miner, said on Wednesday it had made a non-refundable down payment of $66 million for an option to acquire a 6o percent interest in an undeveloped gold-copper deposit in the Philippines.

The company said in a statement that if it decided to take the option, a final payment of $220 million is expected to be paid during the first half of 2012. It has already made a down payment of $54 million.