Gold miners insist they won't splurge despite price surge
The world's top gold miners sought to reassure investors on Monday that they're not going on a spending spree despite surging gold prices boosting their shares and free cash flow.
Miners are opting to give more cash back to shareholders rather than plotting takeovers which the market may disapprove of with the Covid-19 pandemic far from over.
"We don't need to, and will not be, chasing volume," Newmont CEO Tom Palmer told the Gold Forum Americas conference. "In this current gold price environment we are actively assessing an increase to our sustainable dividend."