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Fri 12 Mar 2010
Close: 7 248c 
Day's move: 178c (2.52%)
Volume: 1 226 562
Trades: 1 374
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Harmony -- mine fatality
Harmony announced that an employee died in a rockfall accident at the company's Evander No 8 shaft. The rockfall occurred at approximately 5:00am on 9 March 2010 in a working place some 2 125 metres below surface. An investigation involving management and representatives of the Department of Mining Resources will be conducted.
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Harmony appoints new executive director
Harmony announced the appointment of Harry Ephraim Mashego as executive director, effective 24 February 2010.
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Harmony complete Pamodzi Gold asset acquisition
Harmony Gold Mining Company Ltd ("Harmony") announced that all conditions precedent relating to its acquisition of the Pamodzi Gold Free State (Pty) Ltd's assets, have been fulfilled and that the deal has now become unconditional.
During the past few months, Harmony conducted pre-production work at the shafts, to make these operations safe and return them to production. Production at Steyn 2 and Loraine 3 shafts will now commence and more work is being done to underground workings at Steyn 1 shaft. Production at these three shafts for the first twelve months is estimated at 100 000 oz at an average recovered grade of 5.5g/t and at a cash cost in the order of R218 000/kg. Production will then increase to 150 000 oz for the second twelve months at a cash cost of about R160 000/kg.
The plant clean-up began in December 2009, and 800kg of gold is expected to be recovered over the next 18 months. Milling of rock from the Freddies 9 waste dump at a throughput of 35 000tpm and a recovered grade of 0.55g/t has commenced. This rock is processed at Harmony's Target plant. Harmony has re- employed 1000 employees and the company expects the total number of employees to increase to approximately 2,500 over the next two years.
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| Closing price data source: JSE Ltd. All other statistics calculated by ProfileData. |
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