PIC raises Gold Fields holding by R14bn in stamp of approval for miner
Gold price hits a record high as angst over US regional bank failures drives investors to safe-haven asset
04 May 2023 - 23:11
Africa’s biggest fund manager, the Public Investment Corporation (PIC), has increased its holding in Gold Fields by R14bn in a move that signals a vote of confidence in the gold producer that is in the early stages of future-proofing its business by boosting its production profile.
The move came as the gold price hit a record high, surpassing levels last seen during the early days of the Covid-19 pandemic, making Gold Fields and other gold stocks an attractive proposition...
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