Friday, 31st October 2008 (344 views)

Harmony Gold Mining has stated that it plans to increase production and make further purchases in the future.

The third biggest gold mining company in Africa has published its latest figures for the quarter to September 2008 and has revealed that its net debt has fallen significantly.

Harmony Gold reached its target of 12 tonnes of gold this quarter, increasing production by six per cent and grade by four per cent over the three months.

The gold miner is currently looking at assets and has been examining a number of juniors, exploration firms and gold companies with a view to purchase sometime in 2009.

Graham Briggs, Harmony Gold CEO, predicts that gold prices will rise further and the company will be in a position to make a purchase by June 2009, having sold some of its assets.

Based in Johannesburg, Harmony has operations and projects in South Africa, Australasia and Papua New Guinea and produced 1.55 million ounces of gold during the last full year.

 

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