Fin24

Gold Fields shares jump on unbundling

2012-11-29 10:11

Johannesburg - Gold Fields [JSE:GFI] share price surged as much as 7% to its highest level in more than two weeks‚ after the gold producer said it was unbundling its Beatrix and Kloof Driefontein Complex mines into a separately listed vehicle on the JSE.

The new mining company‚ called Sibanye Gold‚ is to be headed by mining veteran and dealmaker‚ Neal Froneman.

At 9:19am‚ Gold Fields’ share price was up 6.40% to R109.30‚ valuing the company at R79.756bn.