John Paulson teams up with investors to start Gold Council

John Paulson is taking on the gold industry.

The billionaire hedgie — known for his well-timed bets against subprime mortgages ahead of the financial cri♕sis — has teamed up with 15 other investors to form the Shareholders’ Gold Council to prod managers of gold companies to produce better returns.

Paulson hinted at the formation of an investors’ coaliti♐on last year, when he lambasted the high pay of mining chief executives while shareho🍎lder returns languished,

The price of gold has🎶 fallen 9 percent this year to $1,203.30 an ounce — taking the stock value of mining companies down with it.

Shares of Barrick Gold are down 28 percent this year, while Detour Gold, which is under activis𝕴t attack by Paulson’s hedge fund, has seen its stock price plummet 25 percent.

The SGC’s “ultimate aim is to promote cons👍tructive engagement between the gold mining industry and the investment community,” the group said in a statement.

So far that mea🌃ns plans to publish industry researc🍨h with the goal of promoting industry “best practices.”

Among the 15 inve꧂stors joining Paulson’ are Apogee Global Advisors and L♌ivermore Partners.