Harmony Gold Mining Company Limited
Harmony Gold Mining Company Limited
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An investigation is under way into the death of a mineworker at South African miner Harmony Gold's Bambanani mine in the Free State.
Harmony says the employee died of his injuries following a fall of ground incident.
South African gold miner Harmony Gold has raised $US82M via a 55M shares issue to pay down the outstanding $150M bridge loan to partly fund the recent $300M acquisition of the Moab Khotsong Gold Mine from AngloGold Ashanti.
UBS, JP Morgan, Absa and Nedbank arranged the accelerated book-build.
South African gold miner AngloGold Ashanti plans to cut 2,000 jobs from the roughly 8,200 employed at its domestic operations to further cut costs, Reuters reports.
South African miner Harmony Gold says an investigation is under way into an accident in a shaft ore pass that killed an employee at its Moab Khotsong mine near Orkney in the North West Province on Thursday morning.
South Africa’s National Union of Mineworkers (NUM) has submitted gold sector wage hike demands of up to 37% over 2-years, according to a document submitted to the Chamber of Mines seen by Reuters.
(LITIGATION) Six leading South African gold miners have committed to comprehensive compensation payouts for mineworkers suffering silicosis and/or tuberculosis from working in dusty gold mine environments.
South African miners Harmony Gold, African Rainbow, Anglo American SA, AngloGold Ashanti, Gold Fields and Sibanye-Stillwater have agreed to pay up to ZAR500,000 in compensation for former mine workers suffering the lung diseases silicosis and turberculosis.
The companies have previously estimated their combined costs of the settlement will be about ZAR5B.
The settlement comes after 3 years of negotiations with lawyers representing the claimants in a class action.
South African-based gold miner Harmony posted March qtr (Q3FY18) production of 256,660oz, compared to 258,330oz pcp.
Cash operating costs rose to $US1,215/oz (Q3FY17: $1,043/oz).
YTD production was 816,663oz (812,192oz). FY18 guidance has been raised to 1.18Moz from 1.1Moz.
Harmony Gold expects contributions from its newly acquired Moab Khotsong mine in South Africa and the ramp-up of Hidden Valley in PNG to boost it to its higher full year gold production target of 1.8Moz.
Newcrest MD-CEO Sandeep Biswas says an updated FS for its Wafi-Golpu copper-gold project JV with Harmony Gold in PNG provides a clear pathway for a world-class, multi-decade project.
The study lowers total project capital cost to $A5.4B, $1B lower than previous studies.
Forecast annual production increases to 161,000t copper and 266,000oz gold over 28 years.