Why Gold Fields Stock Got Mashed on Monday

Why Gold Fields Stock Got Mashed on Monday

Key PointsThis is Tarkwa, in Ghana.The company effectively said that negotiations on the matter are ongoing.10 stocks we like better than Gold Fields › The price of gold was fairly buoyant on Monday, but we can't say the same for the equity of Gold Fields (NYSE: GFI). The mining company's American Depositary Receipts (ADRs) sank by over 10%, on a media report that it might lose control of its No. 1 play. All that glitters in Ghana Early Friday m…

Gold Fields faces pressure over mining lease in Ghana amid SA anti-immigration protests

Gold Fields’ discussions with the Ghana government are currently focused on the terms of the Tarkwa mining lease, despite calls from within the country to suspend the lease renewal due to attacks on Ghanaians in South Africa. Ghana’s government is facing pressure to act against South African firms following a wave of xenophobic protests in Africa’s biggest economy. More than 2,700 people from Ghana, Nigeria, Mozambique, and Malawi have already b…

Gold Fields "well positioned" to renew Tarkwa licence

GOLD Fields responded to speculation it was set to lose the Tarkwa mine in Ghana saying on Monday it was “well positioned” to continue operating it. Bloomberg News reported on June 19 that Ghana’s government was considering handing control of the mine to local companies when the operation’s leases expire in April. This is despite negotiations currently underway between Ghana and Gold Fields regarding the renewal of the mining lease. Gold Fields …