Digging deep in Busang: Indonesian gold

Article Abstract:

Canadian firms are vying for right to Indonesia's newly discovered massive gold deposits. The minister of mines had promised Barrick a larger stake than Bre-x, the discoverer of the deposits. However Placer Dome, working through a friend of Pres Suharto, may win a major stake by buying Bre-x.

Mergers, acquisitions and divestments, Mining industry, Contracts, Indonesia, Barrick Gold Corp., Placer Dome Inc., PDG, Bre-X Minerals Ltd.

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A new vein: South African gold

Article Abstract:

The low price of gold in recent years has caused the industry to experience a downturn and cause changes to companies. Randgold now allows the managers of firms to make decisions in the field, while Gencor merged operations and switched properties with Anglo American Corp.

Management

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Golden handshake: South Africa

Article Abstract:

South African gold mines are laying off workers due to sinking gold prices. The Randfontein gold mine, for example, lost 3,600 miners, or one third of its workforce. Meanwhile, other workers in the National Union of Mineworkers are making wage concessions.

Human resource management, Prices and rates, Unemployment, Gold

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