Chief Executive Officer Gary Goldberg said while not interested in the entire companies, he would interested in buying Barrick’s half of their shared Kalgoorlie mine in Australia, which Newmont operates.
By now, black lung disease was supposed to have mostly gone away. The coal industry was supposed to have improved air quality in the mines enough to prevent miners from inhaling the coal dust that inflames, stiffens and blackens their lungs.
Few gold mines can operate profitably below 1 gram a ton which is equivalent to extracting two teaspoons of gold from a Statue of Liberty’s worth of ore.
Investors stung by the sell-off in gold are going to need more than cheap equities and stabilizing bullion prices to wade back into mining-company stocks.
The billionaire hedge-fund manager has formed a coalition with 15 other founding members aimed at curbing years of what his hedge fund has called value destruction in the gold sector.
South African withdrew its long-delayed draft legislation for the mining and petroleum industries and plans to come up with separate laws to govern the two.