A group of investors including the hedge fund founded by billionaire John Paulson said “significantly mismanaged” gold companies could unlock $13 billion in value through mergers and cost cuts. The Shareholders’ Gold Council of 18 investors including Egyptian billionaire Naguib Sawiris’s La Mancha found that the median spending of senior gold producers is double that of mining companies that produce other metals, including Vale, the world’s largest iron-ore producer.
