Key Developments: Harmony Gold Mining Company Ltd (HMY.N)

HMY.N on New York Stock Exchange

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4 Mar 2015
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Latest Key Developments (Source: Significant Developments)

Harmony Gold Mining Company Ltd announces AMCU strike suspended pending labour court judgment
Thursday, 23 Jan 2014 02:29am EST 

Harmony Gold Mining Company Ltd:Says AMCU’s (Association of Mineworkers and Construction Union) proposed strike at Harmony’s Kusasalethu and Masimong mines has been suspended pending a judgment awaited from the Labour Court in Gauteng on Jan. 30.Says the Chamber of Mines, representing the gold companies, argued on Jan. 23 for an interdict against the strike.Says The Labour Court stated that it was unable to give its judgment immediately and needed time to consider the arguments by both parties and will make its judgment on Jan. 30.Says the court ordered that the strike may not take place in the interim.  Full Article

Harmony Gold Mining Company Ltd's Kusasalethu and Masimong mines receive strike notice from AMCU
Monday, 20 Jan 2014 06:14am EST 

Harmony Gold Mining Company Ltd:Says it has received a notice from the Association of Mineworkers and Construction Union (AMCU) that the union will embark on a strike as from Jan. 23 at its Kusasalethu and Masimong mines.Says the strike has been called in respect of the 2013 wage negotiations and involves a number of other South African gold producers covered by the industry’s collective bargaining structure.Says wage negotiations were concluded on Sept. 10, 2013 when a two-year wage agreement was reached with three of the four unions (NUM, UASA and Solidarity), representing 72 pct of employees at the time.Says While AMCU (representing 17 pct of employees at that time), participated in the central level negotiations, it refused to accept the agreement.  Full Article

South African court orders Harmony Gold Mining Company Ltd to pay for old water pollution - Reuters
Thursday, 5 Dec 2013 11:08am EST 

South African appeal court:Says it has ordered Harmony Gold Mining Company Ltd to pay for managing water pollution at mines it previously owned in the country's North West province - Reuters.Says provincial Department of Water Affairs had in 2005 directed that Harmony and other companies including AngloGold Ashanti manage water contamination caused by mining in the area and share costs for anti-pollution measures.Says Harmony, ceased mining in the area in 2008 and then argued unsuccessfully in court it should no longer pay up because it had sold the land.Says it has dismissed Harmony's argument, saying its interpretation would result in the absurdity that a polluter could walk away from pollution caused by it with impunity, irrespective of the principle that it must pay the costs of preventing, controlling or minimising and remedying the pollution.  Full Article

Sibanye Gold Ltd Announces Exchange Of Mining Right Portions With Harmony Gold Mining Company Limited
Friday, 8 Nov 2013 01:05am EST 

Sibanye Gold Ltd announced that it has entered into an agreement with Harmony Gold Mining Company Limited (Harmony) for the exchange and sale of certain mining right portions of Beatrix Operations in the Southern Free State for certain mining right portions of Harmony’s Joel Operation (the Transaction). In terms of the Transaction, Sibanye Gold will exchange two mining right portions at Beatrix Operation, which are not included in current Life of Mine (LOM) profile, for two mining right portions at Harmony’s Joel Operation, which will be more readily accessible from the Beatrix North and South Sections. The Company will also sell a further two mining right portions at Beatrix Operation to Harmony for a royalty of 3% of net revenue derived from underground mining from these portions. The Transaction will create value for both companies by allowing the early and optimal extraction of resources currently not in their respective LOM plans.  Full Article

Harmony Gold Mining Company Ltd Does Not Recommend Dividend
Wednesday, 14 Aug 2013 01:15am EDT 

Harmony Gold Mining Company Ltd announced that it did not record a profit for the last six months, the Board has decided not to declare a final dividend.  Full Article

Harmony Gold Mining Company Ltd Comments On Q4, FY 2013 Production Guidance-DJ
Friday, 19 Jul 2013 04:15am EDT 

Dow Jones reported that Harmony Gold Mining Company Ltd announced that for fourth quarter of 2013, it expects gold production to be 10% to 12% higher than third quarter of 2013, driven by higher tonnages and higher grades For fiscal 2013, it expects production to be 2% to 4% lower than the fiscal 2012. Gold production for the year is expected to be lower mainly as a result of labour disruptions at Kusasalethu during the December 2012, March and June quarters.  Full Article

South African gold miners rescued after a fire at Harmony Gold

JOHANNESBURG - South Africa's Harmony Gold said on Sunday all 486 miners who were trapped underground following a fire had been rescued.

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