Gold Fields, Norilsk Nickel rebuilding ties - 500 Beiträge pro Seite

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Gold Fields, Norilsk Nickel rebuilding ties
By Jackie Range
Last Update: 8:01 AM ET July 4, 2005
JOHANNESBURG (MarketWatch) -- South Africa`s Gold Fields Ltd. (GFI) and its biggest shareholder, Norilsk Nickel (GMKN.RS), are working to rebuild their relationship after the Russian miner backed a failed hostile bid for the company.

Now that Harmony Gold Mining Co. (HMY) has given up its takeover fight, Gold Fields - the world`s fourth largest gold miner - is pushing on with its growth plans and said its 2009 target remains attainable. The company denied talk that it`s rushing into another deal on its international assets, and said Newmont Mining Corp. (NEM) is certainly not welcome to bid.

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http://www.marketwatch.com/news/story.asp?page=2&guid={A5EE7… Cockerill declined to say whether the two have spoken about Russia`s Sukhoi Log deposit, however. The Russian government has repeatedly postponed a planned auction for the license to develop this - widely estimated to be the world`s largest undeveloped gold deposit.
One deal Gold Fields certainly isn`t up for is the sale of its non-Southern African assets to Newmont Mining Corp. Newmont has said it would be interested in these, as it scrambles to replace the ounces it mines.

"I think Newmont know full well there is no way that we would be giving up our international assets just to satisfy the hungry Newmont machine," said Cockerill. "The sale of international assets to a third party, where does that get us to? That`s breaking up the company."

Company Web site: http://www.goldfields.co.za

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GOLD PRICE ($) – Big rally to come The gold price is set to rise. While one can capitalise on this move by buying the gold price itself, it also good news for overseas gold stocks. South African gold shares however are also dependent on the dollar/rand exchange rate. Assuming the $/ZAR remains steady (or even weakens slightly), we’ll see a large rally in SA gold stocks as well.
http://www.miningmx.com/gold_silver/456751.htm