Investors Want Australia's Gold Producers to Buy Their U.S. Rivals

Gold producers in Australia are outperforming their global competitors, prompting investors to encourage them to expand their horizons and acquire struggling North American rivals. Saracen Mineral Holdings Ltd. and Northern Star Resources Ltd. have surged in the past year as rivals in Canada, the U.S. and South Africa faltered. “Australian gold miners currently enjoy some of the highest margins in the world,” said Stephen Land, San Mateo, California-based portfolio manager at the $1.1 billion Franklin Gold and Precious Metals Fund.