Harmony Gold plans to close high-cost mines
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Reuters
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Published:
2009/11/11 01:17:16 PM
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South Africa’s Harmony Gold plans to close some high-cost mines over the next six months, Chief Executive Graham Briggs said on Wednesday.
Harmony, the world’s fifth-biggest gold producer, will shut some mines that are near the end of their lives and others hit by high costs due to the strong rand, Briggs told the RBC gold conference in London.
Mines likely to be shut are relatively small, with about 35-50000 tonnes of ore output per month, he added