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Harmony Gold says newly acquired Australian copper mine requires two-year revamp
South African miner Harmony Gold's recently acquired CSA Copper Mine in Australia requires a capital injection and a strategic rethink which could take two years, CEO Beyers Nel said on Monday. Harmony, South Africa's top gold producer by volume, is diversifying into copper - a metal critical to electric vehicles and power grid infrastructure - as gold mining in South Africa becomes more costly and geologically challenging due to the depth of the country's mines. Harmony officially took over the CSA mine in New South Wales last October after acquiring it from Australian miner Mac Copper in a deal worth $1.03-billion. ... (full story)
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