Mining News

Gold Fields investor tells miner to scrap Yamana deal

A top-10 investor in South Africa’s Gold Fields on Friday urged the miner to cancel its planned takeover of Canada-based Yamana Gold, saying the $6.7-billion transaction was expensive and did not guarantee growth and profitability.

Shares in the South African miner plunged 20% on May 31, when it announced the all-share transaction that would make it a top four global gold producer, amid concerns over valuation and shareholder dilution. The stock has not recovered since. 

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