Location: South Africa
Operator: Sibanye Gold Limited
Stream: 7% Gold Stream
Cooke 4, which was formerly known as the Western Areas Gold Mine or Ezulwini, is one of four underground gold mines operated by Sibanye Gold Limited (“Sibanye”) located near the Town of Westonaria approximately 40 km west of Johannesburg, South Africa. The Cooke gold operations have been reconfigured to take advantage of the Cooke 4 uranium plant and produce uranium as a by-product. Franco-Nevada, as a result of its acquisition of Gold Wheaton, receives 7% of the gold produced from the Cooke 4 mine and makes ongoing payments equal to the lesser of $412/ounce of payable gold (subject to 1% inflation per annum that commenced in December 2013) and the then prevailing market price of gold.
Gold One International Limited (“Gold One”) purchased the operation from First Uranium Corporation in 2012 followed by Sibanye purchasing all of Gold One’s West Rand assets in May 2014 which included Cooke 4. The Cooke 4 operation is contiguous to Sibanye’s Cooke underground and Randfontein surface operations and allows for the sharing of services between Cooke 4 and the Cooke 1-3 facilities. Cooke 4 is also contiguous to the South Deep operation of Goldfields Limited to the south. Sibanye no longer separately reports results from the Cooke 4 operation.
|Total Revenue to FNV ($ million)