Harmony falls, Kusasalethu to stay closed

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IOL BR mining PIC001 REUTERS File image: Reuters

Shares of Harmony Gold slip 1.7 percent to 70.30 rand after South Africa's third-largest mining company says it will keep its Kusasalethu mine closed until it is safe enough for employees to start back to work.

Kusasalethu, near Johannesburg, did not re-open after the Christmas holidays because of labour unrest at the mine. Harmony also cut its full-year production forecast to 1.2 million ounces, from 1.3 million previously.

Harmony is no longer a member of the blue-chip Top-40 index, having been replaced on December 24 by private hospital group Mediclinic International. - Reuters

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