EDITORIAL: Gruyere standoff

Gold Fields CEO Mike Fraser is running out of options in his bid to consolidate control over the Gruyere gold mine.   

The miner’s R38bn takeover offer for Gold Road, its Australian partner the crown jewel of which is its joint 50-50 ownership of the coveted mine, has been flatly rejected with Gold Road countering with a proposal to buy out Gold Fields’ stake. The public fallout has left the joint venture in tatters and Fraser with few options.   ..

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