Bugs
Article Abstract:
The price of gold has risen following a decision by European central banks to stop selling gold for five years, and this has hit Ashanti Gold, which had forecast that gold prices would drops and hedged on this forecast. Ashanti has suffered a loss of $570 million as a result of hedging. Hedging can involve risks, as is shown by this case. Hedging contracts relate to current market prices, and a rise in gold prices means that producers have to pay cash, but cannot riase cash since the gold is located in the mines.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1999
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The new Randlord: Cyril Ramaphosa wants to be seen as a new sort of South African businessman
Article Abstract:
Cyril Ramaphosa owns New Africa Investments Ltd. His attempt to purchase a controlling interest in Gold Fields of South Africa will likely come to fruition despite the state of the gold mining industry. It is possible that he could help make Gold Fields financially successful despite its problems.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1997
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How to dig yourself out of a hole
Article Abstract:
Many African mines suffer from mismanagement corruption, but Ashanti Goldfields stands out as an exception. Ashanti responsibly mines for gold and has the potential to compete with prominent African mining companies.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1996
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