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The firm was formed in 1998 with the amalgamation of the gold assets of Gold Fields of South Africa Limited and Gencor Limited. The company traces its roots back to 1887, when Cecil Rhodes founded Gold Fields of South Africa Limited. As of 2019, Gold Fields was the world's eighth-largest producer of gold. [4]
Between 1994 and 1998, the company was owned by Gold Fields of South Africa. [2] Between 1998 and 2003, the company was known as Gold Fields Mineral Services Limited. [ 3 ] In 1998, members of the research team completed a management buy out of GFMS from GFSA, and the consultancy gained full independence.
In 2023, Ghana produced around 4.2 million ounces of gold, contributing to approximately 4% of the world’s total output. The main gold-producing regions are Ashanti, Western, and Eastern regions, with major players including Newmont, Gold Fields, AngloGold Ashanti, and Kinross Gold. Gold exports in 2022 accounted for about 12.3% of Ghana's GDP.
Consolidated Gold Fields played a key role in ending apartheid in South Africa; Michael Young, the company's public affairs director embarked on the controversial course of initiating secret discussions between the South African government and the African National Congress at Mells Park House in the company's estate in Somerset.
In October 1997, Gencor merged its gold assets with Gold Fields and the new company was called Goldco becoming the world's largest gold producer. [14]: B1 Brian Gilbertson became its first chairman and the transfer was paid for by the exchange of shares in new company. [14]:
The South Deep mine is one of the largest gold mines in the South Africa and in the world. [1] The mine is located in the north-east of the country in Gauteng. [1] The mine has estimated reserves of 81.4 million oz of gold. [1]
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ARM has interests in a wide range of mines, including platinum and platinum group metals (PGMs), iron, coal, copper, and gold. [2] ARM's Goedgevonden coalmine near Witbank is a flagship of their joint venture with Xstrata, and produces 6.7 million tons of coal per year. [3] Production is expanding at the Two Rivers platinum mine in Mpumalanga. [4]