Harmony Doesn't Want to Take Over 2 Mines

SA gold producer Harmony Gold had been asked by the National Union of Mineworkers to take over the two mines of DRDGOLD Company near Klerksdorp that were temporarily liquidated last month.

Since Harmony has proven track records in turning underproductive assets around, the union hopes to restore some of the 6500 jobs that were lost when the mines were closed.

The liquidation of the North West mines of Hartebeesfontein and Buffelsfontein followed sustained losses due to the strong rand, damage to shafts from earthquakes and a warning by DRDGOLD?s auditors that the company?s future as a going concern was at risk.

He said Harmony would be in a position to consider taking on the mines only if they were ?assets unencumbered by all sorts of liabilities?.