Gold Fields rides higher gold prices to raise R3.7bn for new mine

Gold_Fields_PA_575_375
By Aidan Gregory
13 Feb 2020

South African gold mining company Gold Fields Ltd has raised R3.7bn ($252m) of fresh capital to fund the construction of a new mine in Chile.

Johannesburg-listed Gold Fields sold 41.43m new shares, a 5% capital increase, at R90.20 a share. That is a discount of 3% to the closing price of the company on Wednesday evening.  

A source close to the transaction said that it was more than two times covered.    

...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial