Norilsk Hurries To Help Gold Fields

South African gold producer Gold Fields and its largest shareholder, Russia?s metals giant Norilsk Nickel, decided to create a new global gold-mining giant that is likely to be based outside SA.

The companies plan to relieve Harmony Gold company of the 11,5% Gold Fields stake, to prevent harmony from launching the hostile move on Gold Fields.

According to Bloomberg, Norilsk would consider buying Harmony?s stake in Gold Fields, which is worth about R4bn.
Norilsk deputy CE Denis Morozov said Harmony had not offered the shares.