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Miners Can’t Operate With Gold Below $1,500, Gold Fields Says

Bullion must rise to $1,500 an ounce for the gold mining industry to be sustainable, according to Gold Fields Ltd.’s Chief Executive Officer Nick Holland.

“The industry is not sustainable at $1,230 an ounce, which is where the gold price is at the moment,” Holland said today in a telephone interview. “We’re going to need at least $1,500 an ounce to sustain this industry in any reasonable form.”