Tag: Harmony Gold
Harmony Gold reported a full year loss of R828 million despite soaring gold prices boosting revenue and a weaker exchange rate. The group reported headline earnings per share decrease of 175 per cent and increased its production profit by 9 per cent. Harmony Gold CEO, Peter Steenkamp joins CNBC Africa for more.
JOHANNESBURG (Reuters) - Harmony Gold raised $200 million after issuing more than 60 million new ordinary shares to partly fund its purchase of rival AngloGold Ashanti’s last remaining South African...
Harmony Gold Mining Company said on Tuesday that it expects limited gold production during the 21-day lockdown in South Africa in the wake of the fast-spreading coronavirus.
Harmony gold has adjusted its full year production down to 1.4 million ounces due to a dismal performance at its Kusasalethu mine which saw a 32 per cent decrease in production. The company has also been named to receive AngloGold’s remaining South African assets. Joining CNBC Africa for more is Peter Steenkamp, CEO of Harmony Gold.
A security worker was killed in the early hours of this morning in Harmony Gold’s Kalgold operation which is 330 km from Johannesburg. The mining company says the South Africa Police Service (SAPS) are investigating the incident as no gold was stolen during the attack. According to the Mineral Council of SA, this year alone, the gold industry has suffered 9 attacks that have seen employees and security personnel held hostage and assaulted. Charmaine Russell, Communications Consultant of the Minerals Council South Africa joins CNBC Africa for more.
The power cuts of South Africa will take another large bite out of mining production today in a time when the industry is struggling. Gold miner Harmony says it cancelled its underground night shift last night and the day shift this morning because of concerns over power supply. The company says it has cut back its power usage merely to maintain emergency services. Joining CNBC Africa for more is Henk Langenhoven, Chief Economist at Minerals Council South Africa and Mashego Mashego, Executive Director at Harmony Gold.
Harmony Gold saw a 17 per cent increase in its gold production which resulted in an R 6.5 billion production profit. The purchase of Moab Khotsong from AngloGold Ashanti and the reopening of Hidden Valley mine in New Guinea generated R1.35 billion of Harmony’s operating cash flow .Although the company sees golden results they have not declared a dividend for two years running. Joining CNBC Africa for more on these results is the CEO of Harmony Peter Steenkamp.
South African gold producers will likely reach a settlement within six weeks in a lawsuit over a fatal lung disease that companies have set aside 5 billion rand ($420 million) in provisions...
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