JOHANNESBURG (miningweekly.com) – Harmony Gold would continue to restructure its operations to ensure long-term profitability, the company said on Tuesday.
This included the completed restructuring at Kusasalethu, on the border of the Gauteng and the North West. “The full cost saving will be realised in the June quarter. Production at the mine is ramping up to planned levels,” the company said in a statement.
Meanwhile, it added that, overall, slow start-ups post the December holidays and safety stoppages had resulted in group production being 10% lower quarter-on-quarter for the three months ended March 31.
“Operating and capital costs are expected to have reduced by a similar percentage compared to the previous quarter, but underground grade remained consistent,” it said.
Harmony’s results for the third quarter would be released on May 8.