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
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.
"Artisanal miners have had to sell whatever they can find at steep discounts to spot prices," said Mr …
GET BT IN YOUR INBOX DAILY
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Syngenta to withdraw China IPO application on weak market: sources
Chinese firms’ fundraisings in limbo as IPOs scrutinised at home and abroad
China’s Huawei continues rebound with strongest earnings growth since 2019
Hatten Land gets notice of default, letter of demand for RM14 million, appoints financial adviser
ComfortDelGro wins contracts to run buses in Manchester
Sam Bankman-Fried, at sentencing, acknowledges FTX customers have suffered