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Gold Fields Wants to Combine With Rival AngloGold

  • A merger would narrow the gap with Newmont and Barrick
  • South African miners are yet to discuss potential deal
ANGLOGOLD ASHANTI BRASIL

Photographer: Pedro Lobo/Bloomberg

Updated on

Gold Fields Ltd. would like to merge with its larger South African rival AngloGold Ashanti Ltd., as the industry experiences a wave of consolidation, according to a person familiar with the matter.

Gold Fields believes it would be the ideal combination as the two miners operate in similar jurisdictions and have a shared philosophy, said the person, who asked not to be identified because the information is private. Discussions haven’t taken place yet, the person said.