Gold Fields has announced it is to revise its plans for exploration at the Arctic Platinum Project after studying the potential impact of the euro on costs.

Gold Fields chief executive Ian Cockerill said that the study would now need adjusting as a result of the fluctuations in the currency, telling the Africa Mining Conference that he expected the revised material to be available "around Easter".

Reports on Resource Investor suggest that preliminary investigations into the potential exploration project revealed the mining site was not as high grade as previously thought.

Now the mine could be scaled down, as Mr Cockerill hinted.

"It is not as we originally conceived," he admitted.

The strength of the euro was cited as the chief reason for the revision of the plans, although a dip in steel prices - one of the other metals being targeted on the site - was also mentioned.