Higher gold prices push gold mining stocks up; M&A activity expected
Despite rise in prices, some industry consolidation seems likely in the near term
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Uma Devi
Singapore
GOLD prices recently hit an all-time high above US$2,000 an ounce, but gold miners may not be reaping the benefits of higher selling prices.
Chris Lim, chief executive of Malaysia-based gold miner CNMC Goldmine Holdings, told The Business Times that the Covid-19 pandemic has adversely impacted the gold mining industry as companies have had to dial back operations amid restrictions imposed by governments around the world.
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