for subscribers

Gold 'still has a future': Harmony hopes to deepen the world's deepest mine

Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!
play article
Subscribers can listen to this article
Kusasalethu Harmony Gold
Kusasalethu Harmony Gold

Harmony Gold, the country's biggest producer by volume, says it will investigate a further deepening of the world's deepest mine, Mponeng, which it recently acquired from AngloGold Ashanti in a R4.4 billion transaction.

According to CEO Peter Steenkamp, taking control of the mine would allow the company to boost its gold output, as the firm believed there was still value in the sector which had been bogged down by years of decline and rising costs. 

Harmony takes control of the renowned mine and its associated assets southwest of Johannesburg on 1 October.

There’s more to this story
Subscribe to News24 and get access to our exclusive journalism and features today.
Subscribe
Already a subscriber? Sign in
ZAR/USD
16.22
(-0.60)
ZAR/GBP
21.01
(-0.22)
ZAR/EUR
19.21
(-0.37)
ZAR/AUD
11.85
(-0.29)
ZAR/JPY
0.16
(-0.69)
Gold
1951.50
(+0.27)
Silver
26.89
(-0.45)
Platinum
934.00
(+0.16)
Brent Crude
43.78
(+2.41)
Palladium
2320.00
(+0.34)
All Share
54708.71
(-0.59)
Top 40
50417.56
(-0.56)
Financial 15
9800.91
(-2.54)
Industrial 25
72654.32
(-0.95)
Resource 10
55504.89
(+0.70)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Do you think it was a good idea for the government to approach the IMF for a $4.3 billion loan to fight Covid-19?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes. We need the money.
11% - 1289 votes
It depends on how the funds are used.
73% - 8600 votes
No. We should have gotten the loan elsewhere.
16% - 1892 votes
Vote