[miningmx.com] – SOUTH Africa’s gold industry said there was merit in discussing potential consolidation and asset mergers, said Bloomberg News citing the CEOs of Sibanye Gold and Harmony Gold.
“The gold sector works well together,’ said Neal Froneman, CEO of Sibanye Gold. “We have to find ways of being stronger and having better margins at these sort of prices,’ he told the newswire.
“We’re probably a good target right now,’ said Graham Briggs, CEO of Harmony Gold. “A low share price, we’re fairly good with our cost control … We have low debt.’
However, the South African gold assets of AngloGold Ashanti were core, said Stewart Bailey, a spokesman for the group. “They are high quality and have a long lifespan.”
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