Harmony Gold Mining Company Limited
Harmony Gold Mining Company Limited
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South African miner Harmony Gold has suspended all operations and declared a safety shift at its Doornkop gold mine near Soweto following the death of an employee from injuries following an underground drilling-related incident yesterday.
CEO Peter Steenkamp says Harmony is working with authorities to conduct a full on-site investigation into the tragic incident.
Harmony Gold has raised $US200M after issuing more than 60M new shares to partly fund its purchase of AngloGold Ashanti’s last remaining South African assets, Reuters reports.
Harmony agreed in Feb 2020 to buy AngloGold Ashanti’s Mponeng mine, the world’s deepest gold mine, and its Mine Waste Solutions assets, for about $300M, making it SA’s biggest gold producer.
One of South Africa’s biggest gold miners, Harmony Gold Mining, will start its proposed share sale today to raise $US200M to part-fund its purchase of AngloGold Ashanti’s assets in South Africa for about $300M, Reuters reports.
Harmony agreed on the acquisitions, including the world’s deepest gold mine Mponeng in Feb 2020, to make Harmony SA’s biggest gold producer.
South African miner Harmony Gold has suspended most mining operations at its Kalgold openpit gold mine 55km SW of Mafikeng in the North West Province after two employees of a contractor tested positive for COVID-19 in routine testing in collaboration with the Health Department.
Both are receiving medical care in isolation while tracing of possible contacts is under way.
Kalgold’s plant continues to operate and employees cleared by testing are returning to work.
Harmony Gold Mining plans to raise up to $US200M via a share issue to fund part of its purchase of AngloGold Ashanti’s last remaining assets in South Africa, Reuters reports.
The assets for sale include the Mponeng mine, the world’s deepest gold mine, for about $300M and would make Harmony the country’s largest gold producer.
A 21.6% increase in average rand gold prices to R704,965/kg has helped South African international miner Harmony Gold lift its production profit for the 9 months to end-March to R5.9B, up from R4.8B in the corresponding period.
The increase was achieved despite a fall in production to 30,814kg (YTD2019: 33,673kg), partly due to the loss of 6 full days of operations in the period due to COVID-19 restrictions as well as Eskom loadshedding earlier in the period. AISC rose to R622,458/kg (R543,432/kg).
Harmony Gold says its total South African production will be limited to 650-700kg gold production during the 21 days of the national lockdown, all coming from reduced-rate mining and treatment of ore at its Kalgold openpit project in North West Province and surface treatment and re-treatment plants.
All its nine underground mines remain on care & maintenance.
In Papua New Guinea, its Hidden Valley will continue operations in line with plan subject to government directives.
South African miner Harmony Gold is supporting the investigation into the death of an employee in a scraper winch-related incident at its Kusasalethu mine near Carletonville. Work was stopped in the affected area following the fatality on Friday evening.
CEO Peter Steenkamp says Harmony will reinforce the key safety elements of leadership, risk management and a proactive safety culture across its operations.
South African miner Harmony Gold sees potential to improve overall recovered grades and cashflow margins in its $US300M to acquire the Mponeng underground gold mine, Mine Waste Solutions retreatment business and surface rock dumps processing business from AngloGold Ashanti.
CEO Peter Steenkamp says the acquisition adds about 350,000oz to Harmony’s annual gold production and expands its South African reserves by 8.27Moz while improving its portfolio balance between underground and surface operations.
South African-based global miner AngloGold Ashanti has completed the divestment of its homeland assets with agreement on a cash and deferred payments transaction worth about $US300M with Harmony Gold Mining.
The sale includes the Mponeng project in the West Wits mining district, the world’s deepest operating gold mine, its Mine Waste Solutions retreatment business and a business processing surface rock dumps.