Gold Merger Sub LLC history

In 1892, Alfred Beit, Rhodes' close colleague in De Beers and other ventures, supported by Rudd, persuaded Rhodes to involve Gold Fields in a company that would work deep levels, Rand Mines Ltd.

General Mining was founded on December 30, 1895 by two Germans, George and Leopold Albu, who controlled a number of gold mines.

It was founded in 1897 by a German, Adolf Goertz, the local representative of Deutsche Bank, and was initially known as A. Goertz and Co.

When the Russian company operating there sought more advanced United States and British technology, Gold Fields became the largest single shareholder in Lena Goldfields Ltd., formed in 1908.

By 1911, Gold Fields had quietly disposed of its Lena share, using the profit on the sale to help replenish the reserves depleted by purchases in the Americas and elsewhere.

Nonetheless, by 1918 the Gold Fields' reserves and its Lena profits had disappeared, and the company faced hard times.

In 1919, activities were diversified with the formation of Transvaal Silver and Base Metals to mine the lode outcrops and lead-bearing ore which the company owned.

The company hit its lowest depths in 1922, as even Robinson Deep and Simmer and Jack profits declined, and the entire industry was affected by the major white miners' strike, the Rand Rebellion.

By 1929, it was sufficiently attractive for a European group to offer to buy up all the issued shares, and Gold Fields and GFADC made a profit on the deal.

In December 1930, Gold Fields financed a magnetometer survey of the West Rand, which was separated from the central fields by a major fault that had taken the gold-bearing reefs to substantially greater depths.

West Witwatersrand Areas Ltd. was formed in 1932 to work the new field.

In 1949, GEFCA was transferred to Australia and absorbed by the Western Mining Corporation, previously a GEFCA subsidiary.

In 1951 came the discovery of the Evander gold field, over which Union Corporation had sole control.

In 1956, New Consolidated Canadian Exploration Company was established in Toronto and New Consolidated Gold Fields (Australasia) in Sydney.

Later, in 1965, it was decided to merge Federale and General Mining with Federale gaining effective control.

Later mining ventures included involvement in Impala Platinum in 1969.

Consolidated Gold Fields, London: Counter Information Services, 1973.

Approximately 50 percent of net income came from industrial interests in the fiscal year 1977–78.

At the time of the 1980 merger, Union Corporation had a 58 percent stake in Sappi, 74 percent of Kohler Brothers, 55 percent of Darling and Hodgson, 17 percent of Haggie—a wire rope manufacturer—and 27 percent of Kanhym.

In 1982, the two major stakeholders, Sanlam and Rembrandt, clashed over Gencor.

While the 1984–85 period was a difficult one for the South African economy, Gencor's particular difficulties were compounded by an identity crisis.

The report served as a spur to change, but the man to whom it fell to implement this, Derek Keys, appointed executive chairman in April 1986, had no background in mining, having come from the industrial group Malbak.

McNulty, Andrew, "Man of the Year—Gencor's Derek Keys," Financial Mail, December 25, 1987.

Another important event was the publication in 1988 of the Gencor mission, a brief statement of the group's fundamental corporate goals, which went a long way toward clarifying to the public and to its employees what Gencor stood for.

Freimond, Chris, "Rob Angel—Driving Engen," Executive, May 1990.

Gencor bought Billiton International from Royal Dutch Shell in 1994 for £780 million, giving Gencor the opportunity to operate as an aluminum trader as well as producer.

Rangold bought some of Gengold's less profitable mines in 1995, while Gengold acquired some new mines of its own.

"South African Gold: A New Vein," Economist, September 27, 1997.

Gold Fields was created in 1998 after the merger of Gold Fields of South Africa Ltd. and Gencor Ltd.

In November 2001, St Ives and Agnew Gold Mines was added to the company's holdings.