Deals
South Africa’s Gold CEOs Ready for Mergers as Prices Decline
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South Africa’s gold miners are ready for mergers and acquisitions as the falling price of bullion forces companies to cut costs and repay debt.
“Maybe there’s some smart consolidation that can take place on a regional basis,” Sibanye Gold Ltd. Chief Executive Officer Neal Froneman said last week. “I think there will be. I think it’s the right time. I think it’s necessary. I don’t think my counterparts in the industry are on completely different pages either.” The company is the country’s biggest producer of the metal.