Gold News

Harmony closes Doornkop gold mine after fatality

Harmony Gold has suspended operations at its Doornkop Plant in South Africa after a fatality occurred at the site, it was confirmed on Tuesday (August 25th).

The world's fifth-largest gold producer revealed that a worker died following an accident involving a conveyor belt at the facility on Monday.

According to a Reuters report, the company is set to team up with government officials to investigate the cause of the fatality, with production temporarily suspended.

Such incidents have traditionally caused miners to lose output, which can often lead to increased demand for Buying Gold and subsequently send prices higher.

The news comes after DRDGOLD, the fourth-largest gold producer in South Africa, revealed last week that its annual output for the 2009 fiscal year fell by 20 percent.

Total production declined to 247,690 ounces for the period, while its operating profit slumped 26 percent to $35 million.

The decline can be explained by the suspension of underground mining at its ERPM operation in Q2, while volumes were altered at its Crown facility following the decommissioning of one section.

Want to Buy Gold but unsure how to do it? For dealing spreads of $3 per ounce – plus secure, professional storage in Zurich, Switzerland for just 0.12% per year – click through to BullionVault now...


See all articles by Gold Bug here.

Please Note: All articles published here are to inform your thinking, not lead it. Only you can decide the best place for your money, and any decision you make will put your money at risk. Information or data included here may have already been overtaken by events – and must be verified elsewhere – should you choose to act on it. Please review our Terms & Conditions for accessing Gold News.

Follow Us

Facebook Youtube Twitter LinkedIn



Market Fundamentals