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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

Uma Devi
Published Wed, Aug 12, 2020 · 09:50 PM

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 …

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