Analyst Research

Report Title Price
Provider: MacroRisk Analytics/EconomicInvestor
Provider: ValuEngine, Inc.
Provider: Reuters Investment Profile
Provider: Pechala's Reports

NYSE and AMEX quotes delayed by at least 20 minutes. NASDAQ delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

Harmony Gold Mining Company Ltd's Kusasalethu To Remain Close Until Such Time As It Is Viable To Mine It Safely And Profitably Again

Monday, 7 Jan 2013 02:45am EST 

Harmony Gold Mining Company Ltd announced that following the review of both the financial and operational impact of lawlessness, violence and non-compliance to the Mine Health and Safety Act, 29 of 1996 (MHSA) experienced at Kusasalethu mine near Carletonville during the December 2012 quarter, it has decided to keep the mine closed until such time as it is safe enough for employees to commence mining activities. In seeking a lasting solution that will resolve the risk to the operation, the Company has commenced with a process in terms of section 189 of the Labour Relations Act, 66 of 1995 (LRA), which may result in the closure of the mine and placement thereof on care and maintenance and possible retrenchments. A process of discussion and consultation with labour will be run parallel to the process in terms of section 189. The aim of the discussion/consultation will be to seek a lasting and sustainable solution in order to avoid the closure of the mine and the conclusion of the section 189 process, which will imply retrenchments. During the December 2012 quarter Kusasalethu experienced an unprotected strike, numerous other incidents of illegal industrial action, violence, sit-ins, vandalism of mine property and other labour disruptions. 

Company Quote

35.0 +1.11%
27 Aug 2014