Gold mining sector showing signs of revival

Vancouver

THE global gold mining industry is showing signs of life as merger activity picks up and industry veterans set up new companies and hunt for projects, taking advantage of weak prices to lay the groundwork for a rebound.

Almost four years after the price of gold began tumbling, cash-starved and debt-ridden miners are selling, merging or closing shop, pushing the value of completed gold mining mergers and acquisitions in the first five months of this year to US$3 billion, twice what it was in the same period in 2014, according to Thomson Reuters GFMS, a metals research consultancy.