Breakingviews – Gold Fields shells out to beat the ageing process
Gold Fields’ long history is a present-day headache in more ways than one. The $9 billion South African bullion producer is reluctant to talk about its roots, which trace back to its founding by rapacious British imperialist Cecil Rhodes in 1887. These days the company has only one set of operations in South Africa. But Chief Executive Chris Griffith has to deal with the problem of ageing mines. That explains why he is paying up for Canadian rival Yamana Gold in a $6.7 billion deal .