Mineweb reported that South African gold miners are feeling the crunch of operating in a cost-prohibitive environment, as gold prices sag. They are taking aggressive cost-cutting measures across the board.
Mining Weekly reported that Harmony Gold is taking on an aggressive campaign to cut capital costs in reaction to declining gold prices.
Mining Weekly reported that Harmony Gold is warning of lower output for the quarter ending in March for a variety of reasons, including a temporary closure of their Kusasalethu mine and ventilation problems at their Phakisa mine.
Mining Weekly reported that Harmony Gold plans to re-open the Kusasalethu mine after a series of illegal strikes and expects full production to resume by June.
Bloomberg reported that Harmony Gold Mining's profits have climbed 28 percent, buoyed by rising gold price and diminishing costs.
Reuters reported that violent clashes broke out on Thursday between rival unions at Harmony Gold's Kusasalethu mine in South Africa.
Bloomberg reported that Harmony Gold (NYSE:HMY) said it is looking for alternative ways to secure electricity supply for its mine in South Africa.
Bloomberg reported that Harmony Gold (NYSE:HMY) said new projects could help it increase gold output by 150,000 ounces in 2013.
Reuters reported that safety stoppages in South Africa hurt Harmony Gold's (NYSE:HMY) quarterly output.
Reuters reported that Harmony Gold (NYSE:HMY) may list on the Hong Kong stock exchange once their Papua New Guinea gold project has started.
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