Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
CRACKS are widening in Gold Fields’ secretive black empowerment deal, which saw the politically connected Invictus Gold take 9% of South Deep mine at a cost to shareholders of R1,1bn in 2010.
Now some shareholders in Invictus, who have been frozen out of the process, are asking questions about how the estimated R98.9m in dividends that should have been paid to shareholders has been spent.
