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Gold Miners’ Debt Hangover Eases as Bullion Gets Brexit Boost

  • AngloGold, Gold Fields yields at least halve since Jan. 1
  • Weak South African rand, Australian dollar help lower costs
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A surge in the price of bullion is proving the perfect antidote to gold miners’ record debt chalked up over the past decade.

The metal has climbed 26 percent in 2016, the best start to a year in four decades, giving producers more cash to repay loans or retire debt. The windfall is even bigger for mines in South Africa and Australia, where revenue in dollars is going a lot further because of weaker currencies used to pay workers and run operations.