{"id":1636,"date":"2013-03-23T13:48:01","date_gmt":"2013-03-23T17:48:01","guid":{"rendered":"http:\/\/www.juniorminingnews.com\/?p=1636"},"modified":"2013-03-23T13:48:01","modified_gmt":"2013-03-23T17:48:01","slug":"big-is-best-lustre-fading-for-goldminers","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1636","title":{"rendered":"&#8216;Big is best&#8217; lustre fading for goldminers"},"content":{"rendered":"<p><strong>By Liezel Hill<\/strong><br \/>\n<em>The Age (Australia)<\/em><\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignright size-full wp-image-1639\" title=\"big160\" src=\"http:\/\/www.juniorminingnews.com\/wp-content\/uploads\/2013\/03\/big160.jpg\" alt=\"\" width=\"160\" height=\"156\" \/>The world&#8217;s 10 biggest gold companies led by Barrick Gold spent more than $US100 billion in the past 20 years buying new mines and projects around the globe. Now they&#8217;re feeling pressure to throw the strategy into reverse. Gold Fields spun off most of its South African assets in February.<\/p>\n<p>Billionaire hedge-fund investor John Paulson is calling for a break-up of AngloGold Ashanti. Barrick, which has 27 mines, is selling assets after an acquisition and cost overruns helped erase $US26 billion of the Canadian company&#8217;s market value.<\/p>\n<p>An index of 14 large goldminers has lost 26 per cent in the past year, worse than the 7.1 per cent drop in a similar gauge of global oil companies. The gold industry, which underperformed the metal for five of the past seven years, has tried to stop the slide by ending gold-price hedges, raising dividends, building new mines and, most recently, pledging spending discipline. Spinning off or selling assets may be its next option.<\/p>\n<p><strong><a href=\"http:\/\/www.theage.com.au\/business\/goldminers-find-lustre-fading-on-big-is-best-20130322-2gldi.html\" target=\"_blank\">Continue reading . . .<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The world&#8217;s 10 biggest gold companies led by Barrick Gold spent more than $US100 billion in the past 20 years buying new mines and projects around the globe. <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[4],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1636"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1636"}],"version-history":[{"count":0,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1636\/revisions"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1636"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1636"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1636"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}