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Article: Eldorado postponed. (Eldorado Gold Corporation)
- Article from:
- African Business
- Article date:
- October 1, 1997
- Author:
CopyrightCOPYRIGHT 1997 IC Publications Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Gencor, South Africa's second largest mining group, drew an historic line last month when it ended its century-long career as a traditional South African mining house, and became an important force in world mining with the creation of Billiton Plc, the new London listed diversified base metals and minerals group.
The old Gencor bowed out with considerable grace and a net profit (including exceptional items) up 70% to R3,070 m. The new Gencor is a unique commodity mix of gold and platinum interests. Gencor's Witwatersrand gold interests contributed R142m for the year ending June 1997, up 54% on 1996. Platinum also contributed a sterling performance with Implats ...