Although gold companies may have turned a financial corner in 2016, spending will not return to the heights of the past decade and priority will be given to reinvestment in brownfields assets, rather than the development of greenfield projects, research firm Fitch Solutions has said.
Gold mining companies have learned the hard way when they splurged on ambitious deals and projects when gold prices surged to historic highs of $1 900/oz in 2011, only to be burnt when prices crashed thereafter.