New thinking needed on Eskom electricity tariff – Harmony
October 30, 2009 by goldguru · Leave a Comment
South Africa needed to apply its mind to solving the electricity price issue to avoid widespread knock-on effects that would seriously stunt economic growth and spark a new round of wage demands, Harmony Gold CEO Graham Briggs said on Friday. The head of South Africa’s third-largest gold-mining company said that increasing the electricity tariffs by [...]
Harmony’s first-quarter gold output up 6%
October 30, 2009 by goldguru · Leave a Comment
South African-based gold-miner Harmony Gold recorded a 6% quarter-on-quarter increase in production to 11 615 kg of gold during the quarter ended September 30, 2009, but CEO Graham Briggs warned on Friday that the company might have to restructure some of its lowest-grade, highest-cost operations as a result of the strengthening rand. Both the underground [...]
For Harmony Gold, free cash flow remains elusive
October 30, 2009 by goldguru · Leave a Comment
The gold digger remains precariously balanced between completing four big projects, and waiting for build up of new operating cash flows. Read more….
Two trapped Harmony workers freed
October 27, 2009 by goldguru · Leave a Comment
Rescue teams have freed two workers who had remained trapped underground at Harmony Gold’s Target mine, near Welkom, in the Free State, following a fall-of-ground incident on Monday afternoon. Spokesperson Marian van der Walt confirmed that both employees had been rescued late on Monday and that they were both being treated in hospital. She noted [...]
Gold price above $1 000/oz unsustainable in long run – Harmony
October 26, 2009 by goldguru · Leave a Comment
The recent gold price spike, which had seen gold trading at above $1 000/oz, was unlikely to be sustainable in the long run, as this had largely been driven by short-term factors, Harmony Gold chairperson Patrice Motsepe said in the group’s 2009 annual report, which was released on Monday. The gold price had reached a [...]
Two Harmony workers killed in Target accident
October 26, 2009 by goldguru · Leave a Comment
Two workers have died in a fall-of-ground incident at Harmony Gold’s Target mine, near Welkom, in the Free State, the company reported late on Monday afternoon. Spokesperson Marian van der Walt had confirmed earlier in the day that four workers had been trapped underground following the incident and that rescue teams were trying to free [...]
Harmony Gold looks to tough times ahead
October 26, 2009 by goldguru · Leave a Comment
Despite a bullish long term view directors divided on short term gold price prospects Read more….
Harmony says worker killed at Free State mine
October 12, 2009 by goldguru · Leave a Comment
A mineworker had been killed in a fall-of-ground incident at Harmony Gold’s Bambanani mine, in the Free State, the gold-miner reported on Monday. Spokesperson Marian van der Walt said that the incident happened at 23:50 on Sunday during face cleaning operations at the mine. Read more….
Gold to hold above $1 000/oz – Harmony Gold CEO
October 7, 2009 by goldguru · Leave a Comment
The chief executive of Harmony Gold Mining Co. said the dollar price of gold could stay above $1 000/oz this year after it hit a new record, but a stronger rand was eroding gains for South African producers. Gold hit a record high on the spot and futures markets on Wednesday, with dollar weakness continuing [...]
Expectation of lower costs, higher production lift Harmony Gold
September 30, 2009 by goldguru · Leave a Comment
The expectation of lower costs and higher production in the upcoming quarter sent the share price of Harmony Gold up 3% on Wednesday. Harmony Gold CEO Graham Briggs told Mining Weekly Online that the company was confident of better production and lower costs in the December quarter, despite the strong rand, which was proving particularly [...]
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