“Gold Fields Ltd. (GFI), the fourth-biggest producer of the metal, will spin off part of its South African business as a wave of strikes and above-inflation pay gains add to costs and curb output for mining companies in the country.
Sibanye Gold Ltd. will trade in Johannesburg and New York and include the Kloof-Driefontein Complex, Africa’s largest gold operation, and the Beatrix mines, Johannesburg-based Gold Fields said today in a statement. Gold Fields will keep South Deep, its second-biggest facility, and mines in Peru, Ghana and Australia. The stock rose the most in three years in Johannesburg trading.”
If you enjoy the content at iBankCoin, please follow us on Twitter
