USD 63.8881

0

EUR 70.4111

0

BRENT 63.34

0

AI-92 42.36

-0.01

AI-95 46.15

0

AI-98 51.58

0

Diesel 47.42

+0.05

34

Harmony Disappointed In Its Dreams

SA gold producer Harmony CEO Bernard Swanepoel said yesterday he admits that the hostile takeover bid for Gold Fields could fail

SA gold producer Harmony CEO Bernard Swanepoel said yesterday he admits that the hostile takeover bid for Gold Fields could fail because of changing mind of the chief of the Russian ally Norilsk Nickel.

Norilsk?s support for Harmony was achieved via an irrevocable agreement committing the Russian company?s 20% of Gold Fields to Swanepoel. Harmony considered

Norilsk?s support as very crucial to Harmony?s bid, because Russian metals giant holds the largest block of Gold Fields shares.

However, Swanepoel admitted last night that far from being staunch allies of Harmony, ?Norilsk has consistently been on the side of Norilsk.?