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Gold Fields' (GFI +6%) spinoff of its two oldest South African mines is the latest sign of the...
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Thursday, November 29, 2012, 5:15 PM ETGold Fields' (GFI +6%) spinoff of its two oldest South African mines is the latest sign of the country's once mighty gold industry succumbing to declining output and soaring costs. GFI CEO Nick Holland says the South African gold industry - the source of 40% of all the bullion ever mined - could be gone within five years; with just one remaining mine in the country, he's not waiting around to find out.
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