Johannesburg - Shares of Harmony Gold fall nearly 4 percent after South Africa's third-largest bullion producer says its quarterly loss widened nearly four-fold, hit by a 2.6 billion rand ($260.49 million) write-down of its Papua New Guinea assets.
Harmony Gold says its volumes and prices improved but were not sufficient to offset the hit the company took in the write-down.
The bullion producer reported a headline loss of 186 cents a share for the three months to end-June, compared to a loss of 47 cents a share in the preceding quarter.
Shares of Harmony Gold are down 3.57 percent at 37.30 rand, the biggest decliner on the Johannesburg bourse's broader All-Share index. - Reuters