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.
Companies including Glencore, China Moly and Randgold Resources Ltd. have criticized the new laws as violating their rights, as well as being a deterrent to future investment, and are continuing to lobby for it to be significantly modified.
