Harmony Gold Looks at Solar Power for South Africa Mine

Bloomberg reported that Harmony Gold (NYSE:HMY) said it is looking for alternative ways to secure electricity supply for its mine in South Africa.

As quoted in the market news:

Harmony is assessing ways to put some of the land it owns in South Africa to use in generating energy and improving the security of power supplies. Gold, platinum and other mines were stopped for about five days in January 2008, when demand overshot local utility Eskom Holdings SOC Ltd.’s capacity. Electricity accounts for about 16 percent of Harmony’s costs in producing each ounce of the precious metal.

Click here to read the full Bloomberg report.