This news aggregator site highlights South African labour news from a wide range of internet and print sources. Each posting has a synopsis of the source article, together with a link or reference to the original. Postings cover the range of labour related matters from industrial relations to generalist human resources.
Fin24 reports that Harmony Gold has decided to extend the operating life of its Mponeng Mine, the world's deepest, from seven to twenty years.
The investment will also help improve operating profit margins at the mine near Carletonville, south of Johannesburg, Harmony advised on Wednesday. At a depth of almost four kilometres and with modern infrastructure, Mponeng is Harmony's flagship mine. The investment will cost Harmony R7.9 billion and the extension will add 3.05 million ounces of mineral reserves over the life of the mine, ensuring it remains Harmony's top asset until 2044, when it will reach the end of operating life. The mine currently employs more than 5,000 people and is Harmony's biggest contributor to free cash flow. Its production increased 30% in the six months ended in December as a result of improved underground grades.
- Read the full original of the report in the above regard by Sikonathi Mantshantsha at Fin24
Get other news reports at the SA Labour News home page