Gold Fields shuns South Africa exit following South Deep turnaround

Gold Fields won’t be rushing to join AngloGold Ashanti in exiting South Africa, after its last mine returned to profit. The South Deep operation generated $15mn of net cash in 2019, after a decade of losses, reports Reuters. Profitability will improve this year as output climbs at the mine that sits on the world’s second-biggest known body of gold-bearing ore. For Chief Executive Officer Nick Holland, the mine has the potential to be a “shining light” for a South African gold industry in terminal decline. “We have a responsibility to…

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