Tuesday, August 29, 2006 HARMONY GOLD MINING CO LTD The latest mineral resources and reserves statement from Harmony Gold Mining Co Ltd, the world’s fifth largest gold miner, demonstrates exactly why gold miners around the world have been so actively involved in mergers and acquisitions, despite the high price of doing cash or share deals, reports Mineweb. If not for equity accounting of its 29.2% stake in Western Areas, which owns half of the rich but problematic South Deep mine (the other half is owned by Barrick Gold Corp), Harmony would have shown an overall depletion in ore reserves of 2.4 million ounces for the financial year to June 30.
(See Mineweb:
Harmony can thank Western Areas stake for reserves boost
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Tuesday, August 29, 2006
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