U.S. hedge fund Paulson & Co, led by long-time gold bull John Paulson, is set to name a group of investors that will work together to try to drive changes and better returns from gold mining companies after years of dismal industry performance, according to people familiar with the situation.

The Shareholders Gold Council (SGC), expected to be launched as early as June, will have more than a dozen investors, including Delbrook Capital, Livermore Partners and Tocqueville Asset Management, one of the people said.