June 30, 2007
Work at Bambanani commenced mid-July after labour returned to work. Most of the labour had to be re-acclimatised and work areas required proper risk assessments to address hazards before work could start. This impacted the July month of the September quarter.
In the 3Q/01, the level of gold production at Bambanani was not sustained owing to a slightly lower grade and a reduction in tonnes milled. Bambanani experienced a fire in the pillar area and this resulted in some lost production and the unavailability of certain working areas. Total cash costs were lower in absolute terms but unit costs increased to US$238/oz.
November 21, 2001
Continuing along its path of acquiring marginal gold producers in the hopes of turning them around, Harmony Gold Mining Company has been pronounced the winner of AngloGold Mining Ltd's Free State mines in South Africa. The Harmony Gold/African Rainbow Minerals (ARM) equal joint venture has agreed to buy four of AngloGold's Free State gold mines and surrounding infrastructure for the equivalent of about US$222 million. The acquisition of the mines, which together stand to produce 1.4 million ounces per year, will boost Harmony's annual production by 30%, and will place it neck and neck with Placer Dome Inc, in terms of world gold production.
Research - Professional or Research - Advanced Subscriber Access Required
