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Harmony Gold sees little production during South African lockdown

Mar. 31, 2020 8:27 AM ETHarmony Gold Mining Company Limited (HMY) StockHMYBy: Carl Surran, SA News Editor
  • Harmony Gold (NYSE:HMY) says all nine of its underground mines in South Africa have ceased mining and are now on care and maintenance amid the country's 21-day lockdown due to the coronavirus.
  • Harmony's Kalgold open-pit mining operation continues to mine and treat its ore at a reduced rate.
  • The miner expects to produce only 650-700 kg of gold in the country during the lockdown, and all exploration and capital projects have been suspended.
  • In Papua New Guinea, Harmony says Hidden Valley will continue to mine in line with its plan subject to any government directives in response to Covid-19.
  • HMY -7.1% pre-market.

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