Gold Fields is on a roll
Two new joint ventures under its belt and a record gold price mean the miner is flying high again, after a wretched 2022
In the words of singer Taylor Swift, Gold Fields shook it off. Five months after the resignation of CEO Chris Griffith, the gold miner’s share price is at a record high. Stand-in CEO Martin Preece tells the FM the dollar gold price is driving the stock, “but we hope the market is giving us a bit of credit as well” — a reference to two deals the company announced this year.
Last year was a nightmare for Gold Fields. On May 31, it bid $6.7bn in shares for Yamana Gold, a Canadian gold producer, only to be outbid by a joint offer from rival gold producers. Since then, it is joint ventures of its own — in Ghana and Canada — that have propelled the firm to a comeback and could boost Preece’s chances of permanent tenure. ..
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