Five becomes two for Gold Fields

摘要

South Africa's second largest gold miner, Gold Fields Ltd, has dropped its "rule of fives" and has replaced it with a "rule of twos" as new chief executive Nicholas Holland looks to rein-vigorate the company's growth in a world of shrinking deposits. Throughout Ian Cockerill's reign, Gold Fields' exploration and acquisition strategy was based on its "rule of fives". The only projects the company deemed sufficient for its portfolio were those with 5 moz in resources, capable of producing 500,000 ozpa. Holland used the company's annual report to announce its intention to lower the bar.