Gold bars from the vault of a bank are seen in this illustration picture taken in Zurich November 20, 2014. REUTERS/Arnd Wiegmann
Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
A $50 billion gold-industry deals spree is extending into its third year, even as a surging bullion price makes sealing transactions and valuing mines more difficult.The average paid in 133 transactions in the three months to June was $64 an ounce of gold equivalent in the ground, up from $36 in the first quarter of 2016, as buyers factor in better long-term price expectations, according to Bloomberg Intelligence.Completed and pending gold sector deals totaled almost $9 billion in the first half, including Newmont's $1.3 billion sale of Indonesian copper and gold assets to a local consortium and Centerra Gold Inc.'s $1.1 billion purchase of Thompson Creek Metals Co. Volumes rose in 2015 to $21 billion, the highest annual total since 2011 .Barrick President Kelvin Dushnisky said the company would sell assets including the Super Pit – if it got a fair price, according to an interview last month.
FOLLOW THIS ARTICLE