But according to the updated feasibility study total capital expenditure for the life of Wafi-Golpu mine will fall by about the same amount to $5.5 billion.
Harmony Gold Mining News
The suit was launched around six years ago on behalf of miners suffering from silicosis, contracted by inhaling silica dust in gold mines.
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%.
Company currently working on recovering the body.
Lawyers acting for thousands of gold miners who contracted lung diseases at work in SA mines say an out-of-court settlement could be reached by December.
Starting on Friday, workers did not go work in protest for the firing of six leaders of the Association of Mineworkers and Construction Union.
South African gold miner said it’s on track to meet 2017 guidance.
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.
Death toll has risen to five after a tremor rocked the firm's Kusasalethu mine last week.
Two more remain missing after they were trapped underground following an earth tremor last week.
Two miners have been killed in an underground mine collapse in South Africa caused by an earth tremor.
Rescue teams have been working to find the workers since the incident occurred at about 10.30 a.m. local time at its Kusasalethu mine near Cartonville, west of commercial hub Johannesburg.
South African miner Harmony Gold reported a 35 percent rise in full-year profit on Thursday and said it will look at growth, exploration and acquisitions to meet its 2019 production targets.
INTERACTIVE MAP: Together reserves at the global top 10 copper mining projects are worth more than $360 billion.
Company to launch probe into the causes of the illegal sit-in of nearly 48 hours.
The world's fifth largest gold miner increased production, had stronger cash flows and paid shareholders a dividend in the first quarter of its 2017 financial year.
After losing money for three years to 2015, Harmony is now focused on finding mines able to offset falling production at its South African operations.
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.
Harmony Gold has been looking for new assets to meet its goal of increasing production to 1.5 million ounces over the next three years.
The world’s fifth largest gold producer has told a Perth mining forum today that it plans to lift its total output to 1.5 million ounces a year within three years as it combines its increasing output from African and PNG mines.
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.