Harmony Gold Implements Cost Cuts on Hopes for Profitability

Mining Weekly reported that Harmony Gold is taking on an aggressive campaign to cut capital costs in reaction to declining gold prices.

As quoted in the Mining Weekly report:

He told Mining Weekly Online that the cost reductions were aimed at keeping the company profitable should the gold price stay at levels of around $1 400/oz. “Should the price fall to levels of around $1 200/oz, we would have to do dramatically more to remain profitable.

To view the whole Mining Weekly report, click here.