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Harmony Gold Seeks to Acquire New Assets Amid Depleting Reserves

From bnnbloomberg.ca

Harmony Gold Mining Co. is assessing the acquisition of new assets, including AngloGold Ashanti Ltd.’s last underground operation in South Africa, as the company seeks to bolster growth and replace depleting reserves. While gold output rose 17% in the year through to June, Harmony needs to find new capacity as the Masimong and Unisel mines in South Africa run out of commercially viable ore and a project in Papua New Guinea stalls amid regulatory challenges, said Chief Executive Officer Peter Steenkamp. The Mponeng mine being sold by AngloGold is one possibility. “Mponeng is probably one of the many projects we are ... (full story)

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  • Category: Fundamental Analysis