Gold miners are on the hunt for assets as prices climb

Section:

By Jesse Riseborough, Kevin Crowley, Thomas Biesheuvel
Bloomberg News
Wednesday, February 11, 2015

Gold producers with cash on hand are on the hunt for cheap mining assets as rising prices drive shares higher.

During a 12-year bull run that ended last year, about $30 billion in debt was racked up by companies that mine gold. Those that minimized borrowing then are in the best position now to scoop up mines from rivals with weaker balance sheets, said executives at the Investing in African Mining Indaba conference in South Africa, the biggest such gathering on the continent.

Already $2.7 billion in deals have been announced or completed this year within the industry, including Monday's $1.1 billion offer for Rio Alto Mining Ltd. by Tahoe Resources Inc. It's an early leg up on the $10.5 billion in deals last year. ...

... For the remainder of the report:

http://www.bloomberg.com/news/articles/2015-02-11/gold-miners-on-the-hun...



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