"I think the industry is past looking at how many ounces you produce, it is really now about the margin and the quality of the ounces in terms of profits." – Froneman
by Geoff Candy:
GRONINGEN (MINEWEB) -
"On Monday Gold Fields CEO, Nick Holland, painted a very sombre picture of the South African gold sector and its future. His CFO, Paul Schmidt, went even further saying during a media roundtable that there won't be a gold industry in the country in five years, if the South African gold sector carries on in the same way it has been .
"In Johannesburg this morning, Holland described the formation of Sibanye Gold (created by spinning out Gold Fields' KDC and Beatrix operations into a new listed entity) as a response to those warnings. ..."