Gold miners probably won’t return to “large-scale” selling of future output seen in the 1990s that added to supply even as the co-chairman of Barrick Gold Corp., the top producer, says hedging makes sense, Barclays Plc said.
Harmony Gold Mining Co., Africa’s third-largest producer of the metal, must pay to clean up water pollution near mines west of Johannesburg even after selling the land five years ago, South Africa’s Court of Appeal ruled.
Emerging-market stocks fell to the lowest level in two weeks as Hyundai Motor Co. and Kia Motors Corp. tumbled amid concern earnings will falter. Brazil’s real slumped to a three-month low amid disappointing economic data.
Shares in the world’s biggest mining companies fell to the lowest in almost four months as signs the U.S economy is strengthening increased speculation that the Federal Reserve will reduce its monetary stimulus.
Gold Fields Ltd., the South African mining company that spun off most of its domestic operations this year, is seeking to lengthen loan maturities after cutting costs by almost 25 percent, the chief executive officer said.
Mining companies in the Democratic Republic of Congo including Glencore Xstrata Plc and Randgold Resources Ltd. face “serious risks” as the country’s 2016 elections approach, Liberum Capital Ltd. said.
Eskom Holdings SOC Ltd.’s largest clients said they’re under no obligation to heed the South African power utility’s instruction that they curb use, raising the risk of scheduled blackouts amid supply constraints.