Why Pressure To Replace Mined Reserves May Be A Big Driver For M&A Of Gold Mining Operations In 2021
Gold Fields Limited American Depositary Shares (GFI)
US:NYSE Investor Relations:
goldfields.com/investors.php
Company Research
Source: PR Newswire
PALM BEACH, Fla., March 30, 2021 /PRNewswire/ -- The global pandemic has again shown that in times of uncertainty investors flock to gold. As a result, mining operations are under pressure to mine more of the precious metal. In 2020 this demand resulted in a large number of smaller mergers and acquisitions. Industry experts are predicting another round of consolidation for the industry in 2021, although they aren't looking for mega-mergers. Instead, they expect to see a continuation of the trend in 2020 that brought a larger number of smaller deals. In a recent report, BOA analyst Michael Jalonen said his team believes the pressure to replace reserves that have been mined will be one of the big drivers for mergers and acquisitions this year. They noted that gold reserves have been falling since 2012, while gold output has remained stable. Further, their coverage universe must replace 50 million ounces of reserves mined each year. He added that the team expects more interest in targets
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