Miningmx reports that Harmony Gold is to close its Bambanani gold mine in SA’s Free State province.
This will incur an impairment of R144m which has been recognised in the first half of the 2022 financial year. The mine, which will be put on care and maintenance in July roughly 18 months earlier than planned, has been shut owing to its increased sesimicity. Harmony said it was “no longer possible to operate the mine in accordance with Harmony’s … safety protocols”. Harmony had planned to shut Bambanani in 2024 along with other ageing mines Masimong (closure still set for 2023) and Kusasalethu (2024). The schedule for these other closures remain unchanged. Peter Steenkamp, CEO of Harmony Gold, said it was “with a heavy heart” that the company had decided to shut Bambanani and, unless the workers at Bambanani opted for voluntary separation, all of its 1,500 employees would be redeployed in positions within the company. “Bambanani has some of the best crews and most experienced in Harmony. There is 17% of the pillar left but we are slowing down the mining,” said Steenkamp.
- Read the full original of the report in the above regard by David McKay at Miningmx
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