Deals
Gold Fields to Buy Barrick Mines in Australia After Posting Loss
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Gold Fields Ltd., which spun off most of its South African assets this year, agreed to pay $300 million for three Barrick Gold Corp. mines in Australia after posting a loss and scrapping its dividend in the second quarter.
Gold Fields will pay half the cost in cash and has the option of paying the rest in shares or cash, Chief Executive Officer Nick Holland said today in an interview. The company swung to a net loss of $36 million in the second quarter, compared with a $68.3 million profit in the first, it said today in a statement. The stock fell as much as 8.2 percent.