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Ex-Gold Fields CEO Chris Griffith seeks $1B for Africa critical minerals fund
Griffith, who stepped down as Gold Fields CEO in December 2022 after its failed Yamana Gold takeover bid, said fundraising is at an early stage for the new private equity venture.
Former Gold Fields CEO Chris Griffith has joined a private equity venture seeking to raise $1 billion to invest in African critical minerals, according to Mining.com.
Griffith said plans he had to retire were put on hold after private equity investors approached him to help tap growing interest in the sector. He is working alongside Colin Coleman, a former Goldman Sachs banker, and Sam Jonah, a former Ashanti Goldfields chair, and noted the fundraising effort is still early.
The announcement comes about four years after Griffith left Gold Fields following its failed $6.7 billion all-share bid for Yamana Gold. That deal was intended to move Gold Fields into the top tier of global gold producers, but a rival offer from Agnico Eagle Mines and Pan American Silver won out.
Griffith also recapped the outcome of the failed bid and later said he will shift his focus from running listed miners to raising private capital for African critical minerals. Since then, Gold Fields has since completed acquisitions including an agreement in 2024 to buy Osisko Mining for $1.6 billion and an agreement in 2025 to acquire Gold Road Resources in a transaction initially valued at about $2.4 billion.
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