South Africa’s Harmony Gold is bullish on gold mining and has raised production to benefit from the higher rand prices for gold, various dailies quoted chief executive Graham Briggs as saying.
Speaking at the annual shareholders meeting, Briggs said that even though gold was trading below $800 per ounce until last week, in rand terms it had risen dramatically.
”We need to produce more gold to benefit from higher prices,” he said.
Briggs also said it expects the company to benefit from lower input costs, but does not expect to feel the impact from that until the first quarter of next year. — Reuters