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.
South African gold mining company Gold Fields said on Friday that KPMG remains its external auditor but it will continue to monitor future developments.
“The Gold Fields board of directors has considered the matter and will be closely following future developments in this area. KPMG remain the company’s external auditors,” the company said in a statement.
KPMG cleared out its South African leadership last Friday after it found that work it did for firms owned by the Gupta family, businessmen friends of President Jacob Zuma, “fell considerably short” of its standards. (Reporting by Tiisetso Motsoeneng; Editing by Joe Brock)
