Russian mining group Norilsk Nickel and Gold Fields have both made some form of approach regarding Harmony Gold’s 11,5% stake in Gold Fields, Harmony spokesperson Brenton Saunders said on Monday.
Norilsk has a 20,03% stake in Gold Fields.
In the case of Gold Fields, the group has previously said publicly that it is interested in buying Harmony’s stake in the company, Saunders said.
Harmony has received a “couple” of approaches regarding the 11,5% Gold Fields stake, he added.
However, no formal offers have been received for the 11,5%, Saunders said.
Harmony isn’t forced to sell its stake in Gold Fields and it has enough money available, he added.
The company continues to see its holding in Gold Fields as “strategic” and this stake could be used ahead of any restructuring of the Gold Fields group, Saunders stated.
Gold Fields is also likely to go down the road of trying to “externalise” some of its gold assets, in the same way it tried to merge its international gold mines with those of Canada’s IAMGold, he added.
A restructuring of Gold Fields could see the group’s offshore assets go to Norilsk Nickel, and the only parties interested in Gold Fields’ three South African gold mines are Harmony and Mvelaphanda Resources, Saunders stated.
“There is still a lot of water to go under the bridge,” he added.
Harmony doesn’t see any need to rush and will wait for a “good deal”, Saunders said. — I-Net Bridge