Marvel gold
Feature image credit: Wikimedia

Gold Fields denies the statement made in a Bloomberg article mentioning the company’s intentions to merge with rival AngloGold Ashanti.

Gold Fields has noted this article and has responded by saying it is factually incorrect and therefore completely disassociates the company with the statement.

Article summary

According to Bloomberg’s article:

“Gold Fields would like to merge with its larger South African rival AngloGold Ashanti as the industry experiences a wave of consolidation, according to a person familiar with the matter.”

“The company believes it would be the ideal combination as the two miners operate in similar jurisdictions and have a shared philosophy, said the person, who asked not to be identified because the information is private. Discussions haven’t taken place yet, the person said.”

Gold Fields denied it’s interested in combining with AngloGold, according to a statement issued to the Johannesburg Stock Exchange on Tuesday.

If a merger happened, it would bring together two miners with a combined market value of about $8 billion. The enlarged company could produce almost 6 million ounces of gold a year, closing the gap on Newmont Mining Corp. and Barrick Gold, which have both announced mega deals.

“AngloGold declined to comment.”