No image available
/ 17 October 2008
Harmony Gold said on Friday output and unit cash costs in the September quarter had risen, and it was confident of a higher gold price.
No image available
/ 17 October 2008
Harmony Gold, South Africa’s third-largest gold producer, on Friday said it remained "bullish" about the gold price.
South African stocks were slightly lower at midday on Wednesday, but off the worst levels as commodity stocks posted modest gains on higher prices. At 11.58am, the JSE’s all-share index was down 0,13%. Resources were up 0,23%, the gold mining index was fairly flat at +0,03%, but the platinum mining index lost 0,47%.
South African stocks were a mixed bag with a weaker bias at noon on Thursday, but brewer SABMiller climbed on above-forecasts year end earnings. At noon, the all-share index was down 0,16%. Resources fell 0,67%, the gold mining index was off 1,62% but the platinum mining index added 0,15%.
Harmony Gold Mining, the world’s fifth-largest gold producer, on Thursday reported the turning of its fortune. The company swung into a profit in the first three months of 2008 after several quarters of reported losses. Harmony posted a March quarter net profit of R345-million versus the December quarter’s net profit of R46-million.
South African stocks remained higher at noon on Tuesday, supported by miners on stronger metal prices, but shaky overseas markets and stronger rand limited the upside move, traders said. Local mobile phone firm MTN Group remained the most heavily traded stock by value after it confirmed that it was in share price-sensitive talks with an Indian firm.
South African stocks were mixed in a thin-volume session by noon on Friday, with MTN in focus on vague newspaper reports that an Indian firm might launch a takeover bid for the local mobile telecoms firm, traders said. By midday the JSE’s broader all-share index was down 0,14%. Resources fell 1,27%.
The South African government will on Friday announce whether power supply can be increased to mines while maintaining the stability of the system. The review of consumption comes in the wake of last week’s surprise announcement that the sector would lose thousands of jobs due to the power crisis.
No image available
/ 29 February 2008
South African Minister of Minerals and Energy Buyelwa Sonjica has confirmed that job losses at mines are unavoidable, the South African Broadcasting Corporation reported on Friday. Sonjica said this became apparent at Thursday’s meeting with labour unions and the Chamber of Mines, but she would not disclose the number of job losses that will take place.
No image available
/ 27 January 2008
A power shortage halted production in South Africa’s lucrative mining sector for a second day on Saturday, and mining company officials said they still did not know when they could resume operations. Power cuts described by President Thabo Mbeki’s government as a national emergency on Friday stopped production in the world’s biggest platinum and number one two gold producer.
No image available
/ 25 January 2008
South African gold producers and the world’s biggest platinum miner suspended production at all their mines in the country on Friday due to a power crisis, helping send precious metal prices to new highs. Shares in most of the affected firms dived as the government said the power cuts were ”a national emergency”.
The JSE was firmer by midday on Tuesday as a weaker United States dollar helped precious metals boost mining stocks on the bourse. By noon, the broader all-share index was 0,57% better, led by a 1,74% climb in the gold-mining index. The platinum-mining index gained 1,4% and resources added 1,17%.
Graham Briggs has been appointed CEO of Harmony Gold Mining with effect from January 1 2008, the company said on Wednesday. Harmony — the world’s fifth biggest gold producer — appointed a selection panel at the end of October 2007, made up of four non-executive board members, to oversee the selection process for the position of CEO.
South African stocks were sharply higher at noon on the first trading day of 2008, but volumes remained low as most traders are still on their festive-season break. By noon on the JSE, the all-share index was 1,05% higher. Resources added 1,24%, the platinum-mining index was up 1,88% but the gold-mining index was flat.
No image available
/ 30 November 2007
The JSE was sharply higher by noon on Friday as gains among mining and resource stocks added some cheer. At noon, the JSE’s all-share index rose 1,12% as the gold mining index advanced 2,59%. Resources collected 2,52% and the platinum mining index recovered 1,5%.
No image available
/ 27 November 2007
South Africa’s National Union of Mineworkers (NUM) said on Tuesday it had been given the go-ahead by authorities to stage a one-day nationwide strike on December 4 to highlight the issue of safety at mines. ”Yes, we are going on strike on December 4, we have been given the go-ahead,” NUM spokesperson Lesiba Seshoka said.
No image available
/ 23 November 2007
Impala Platinum (Implats), the world’s second-biggest producer of platinum, shut one of two shafts at its Marula mine after a worker was killed in an incident, an official at Implats said on Friday. Clapham is one of two shafts at Marula and produces half of the Marula mine’s total output of 6 000 ounces of platinum per month.
No image available
/ 23 November 2007
Harmony Gold said on Friday one worker was injured and another was missing after a rockfall at its Elandsrand mine, which re-opened on Monday after it was shut down in early October following an accident. An official at Harmony said the mine had not been shut again after Friday’s accident, which took place about 3km underground at about 10.30am.
No image available
/ 23 November 2007
The National Union of Mineworkers plans to ask its members to down tools on December 4 to protest against a spate of deaths in the country’s mines, the president of the union said. Senzeni Zokwana unveiled the date of the planned action in a speech at a congress of global miners’ unions, which started in Thailand on Thursday, a statement said.
No image available
/ 22 November 2007
South Africa will launch a nationwide safety audit in December on all mines in the world’s largest producer of precious minerals in a bid to reduce deaths and accidents, a senior official said on Thursday. Stung by the loss of lives that union officials have called a ”genocide,” the government has vowed to temporarily shut mines whenever deaths occur.
No image available
/ 2 November 2007
The JSE recouped some of its earlier losses, but remained lower at midday on Friday on hopes that United States jobs data due out later in the day would support a case for another rate cut in the US. The local bourse was down more than 340 points in early trade following similar drops overseas stemming from renewed US subprime housing-market concerns.
No image available
/ 10 October 2007
The JSE remained firm at midday on Wednesday but was off its earlier all time high of 31 291,74. The initial spurt had been prompted by a record close on Wall Street overnight, but European markets are lower and the United States futures are also negative, which brought the JSE back from its record level reached earlier in the session.
Mining is and always will be a dangerous business. But every time there is a seismic event, a rockfall, or, as happened this week, a broken lift, a new round of muttering begins.
No image available
/ 27 September 2007
Good buying interest was seen across the board on the JSE on Thursday and by midday the all-share index was up 224 points, with one trader speculating that it could close above the 30 000 level. A trader said the JSE was approaching its all-time high of 30 046,3, reached on Tuesday.
No image available
/ 21 September 2007
Athletes have become the first casualty of mining company Harmony’s drastic drive to cut its soaring costs. The company has decided to rid itself of about 40 star athletes on its payroll and invest in developing talent. Professional runners at Harmony earn between R500 and R14 000 a month, depending on experience.