The $300 million deal, which incorporates the Great Noligwa underground mine and related infrastructure, is expected to boost Harmony's operational cash flow by 60%.
AngloGold Mining News
It will sell its newest mine to Harmony Gold for $300 million and another mine for 100 million rand ($7.4 million) to China's Heaven-Sent SA Sunshine Investment Company.
The miner said it continues to seek a “constructive dialogue” with the country's government to gain assurance that its operations will not be affected by newly enacted mining law.
President John Magufuli has also ordered the mining ministry to freeze the renewal of expired permits.
Mines minister Mosebenzi Zwane noted that 19 of the 73 miners who died in South Africa last year lost their lives at operations run by those companies.
Safety related stoppages in South Africa take part of the blame for year-on-year fall in production at world's third largest gold miner.
Experts say Ghana's government is unlikely to do anything before the upcoming presidential election on Dec. 7 for fear of losing votes.
They will appeal verdict that paved the way for about half a million current and former miners to proceed with a multi-million-dollar suit, which seeks compensation for those who contracted lung diseases.
The class action the firms want to appeal paves the way for thousands of current and former miners suffering from silicosis and tuberculosis to seek damage compensation from the companies.
If the class action goes ahead, it will affect almost every gold mine in South Africa, including their parent companies, covering their conduct over the last 50 years.
They will dispute the country's High Court decision last month to allow a class action suit seeking damages for up to half a million miners who contracted silicosis and tuberculosis.
High Court decision opens the way for up to 500,000 current and former miners to pursue a multi-million-dollar lawsuit against mining companies over respiratory diseases contracted at work.
Experts believe the troubles affecting gold producers in South Africa go way deeper than a slump in prices for the metal or the usual cycles the mining industry experiences.
AngloGold Ashanti, the world’s third-largest gold producer, climbed its most in seven months after selling its Cripple Creek & Victor mine to Newmont Mining.
Much of the overall decline in reported gold output was due to a significant quarter-on-quarter production declines from AngloGold Ashanti, Goldcorp, and Sibanye Gold.
They will look at compensation and medical care for workers with occupational lung disease or "silicosis."
Harmony Gold, Sibanye Gold Ltd., and AngloGold Ashanti named among the top candidates to consider deals.
Forecast slump in gold prices to drive more mine sales, says the firm.
Susan Shabangu, highly criticized for her handling of a strike in the platinum sector, was booted out from a cabinet that now includes South Africa's first black minister and a first openly gay official.
A team of scientists is working on a process to replace platinum-group metals (PGMs) with more widely available elements.
Impala Platinum (Implats) has lost about 246,000 ounces of production of the metal since the strike started,
Preliminary investigations indicate the deceased, an electrician, was fatally injured in a heavy equipment incident.
Platinum miners to strike Thursday; combined, the affected companies produce more than half the world's platinum.
After its first quarter of operation, the $1.7 billion project in the DRC is now expected to meet its forecast of 550,000 ounces for the current year.
Study claims the massive project would jeopardize a river basin, potentially reducing water supply for agriculture and consumption.