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The Wall Street Journal reported that Gold Fields (NYSE:GFI) is under investigation by US regulators for an improper payment related to the acquisition of a gold mine.
The Wall Street Journal reported that Gold Fields (NYSE:GFI) is under investigation by US regulators for an improper payment related to the acquisition of a gold mine.
As quoted in the market news:
Gold Fields said Tuesday that the U.S. Securities and Exchange Commission is investigating a $210 million payment to black economic empowerment, a fund championed by South Africa’s ruling African National Congress party (ANC) to redress inequalities from apartheid. The payment came in the form of a 9% stake in the South Deep gold mine, one of the world’s largest, which is owned and operated by Gold Fields.