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Australian listed Gold One International Limited (ASX:GDO) and South African gold miner Gold Fields Limited are exploring a joint venture.

Both companies have inked a memorandum of understanding to investigate the viability of reprocessing their combined surface tailing deposits in South Africa.

Gold One and Gold Fields operate mines in areas of South Africa with a long history of gold and uranium mining.

A potential JV would see both companies reclaim and retreat tailings to recover residual gold, uranium and sulphur.



In the first half of its 2011 financial year Gold One International reported a net profit of $10.6 million.