Harmony Gold Mining Company Limited
Harmony Gold Mining Company Limited
Full text is available to Level 2 subscribers only
Subscribe to Mining Business Media
Full access to Mining Business Media's unique blend of global mining sector news and commentary is available by subscription only.
$A275.00 per year*
(*up to 10 users)
GST included in Australia
Direct debit/cheque/credit card:
Click here
Subscription inquiries, email subscribe@miningbusiness.net or call 61+413 772 044.
Related Content
South African producer Harmony Gold Mining has temporarily halted all work in a section of its Kusasalethu mine near Carletonville in Gauteng province for a comprehensive internal investigation into the death of an employee.
Details of the March 24 incident at the mine have not been disclosed.
Harmony Gold Mining says a comprehensive internal investigation is under way into the death of an employee following a fall of ground incident at its Kusasalethu mine near Carletonville in South Africa.
The Dec 15 incident followed a seismic event.
South African-based Harmony Gold Mining reached agreement on the $230M acquisition of the Eva copper-gold project from Canadian owner Copper Mountain Mining, diversifying its commodity range and risk profile.
South African-based international company Harmony Gold Mining has hailed as "transformational" its $US260M agreement to acquire a near-development mine and extensive copper exploration landholdings in Queensland, Australia.
Harmony says its acquisition of the Eva project from Copper Mountain Mining will add near-term copper to its production profile plus excellent growth potential.
CEO Peter Steenkamp says it opens a new copper-gold frontier within a highly attractive mining area.
With its British Columbian namesake mine growing production to 138Mlbpa copper equivalent, Copper Mountain Mining has agreed to sell its development-stage Eva project and nearby copper exploration holdings in Australia for $US230M.
The definitive agreement with South African-based Harmony Gold Mining comes five months after CMM dismissed what it called "media speculation" on a deal.
Harmony will pay $170M upfront plus $60M in contingent payments for Eva and 2,100sqkm exploration tenements about 100km NE of Mt Isa, Qld.
Work has been suspended in the area of an underground mud dam at South African miner Harmony Gold’s Kusasalethu mine after four employees were killed in the collapse of the dam wall.
An on-site investigation is pending following the incident on May 7 at the mine near Carletonville in Gauteng province.
Local media say the workers were part of a team cleaning the dam and completing repairs to a pipe. South Africa’s News24 reported the dam had been declared safe prior to the incident.
South African major Harmony Gold Mining has credited its diversified and de-risked portfolio for its strong Sept qtr (Q1FY22), with improved production at Moab Khotsong, Kusasalethu, Doornkop and its surface source business lifting gold output to 413,714oz from 411,078oz in the previous period.
Higher winter electricity tariffs and lower grades, attributed to safety incidents, saw AISC rise to $US1,691/oz (Q4FY21: $1,607/oz). Gold revenue was $749M ($746M) on gold prices of $1,771/oz ($1,769/oz).
South African major Harmony Gold Mining has credited its strong partnership with organised labour for the successful conclusion of a three-year wage agreement it says will support long-term sustainability for the business and its workforce. The agreement is the company's first outside the Mineral Council’s central bargaining forum.
Operations in the affected section of Harmony Gold Mining’s Mponeng gold mine in South Africa have been suspended while investigations are carried out into the fatal injury of an employee following a seismic event that caused a fall of ground on Wednesday,
Harmony completed the $US300M acquisition of the mine near Carletonville in Gauteng province in Oct 2020.
South African-based major Harmony Gold Mining’s continuing transformation of its earnings profile has brought a turnaround in results for the year to end-June (FY21), posting headline earnings/net profit of R5.6B compared to its loss of R850M in the prior period.
Gold production rose to 1.535Moz (FY20: 1.217Moz) at AISC of R723,054/kg (R651,356/kg). Operating free cashflow increased to R6.5B (R3.6B).
Harmony’s FY22 production guidance is 1.547-1.630Moz at R765,000-800,000/kg.