Harmony Gold Mining / HMY (NYSE), HAR (SA) und Gold Fields / GFI

  • JOHANNESBURG (AFP) -- Tens of thousands of mineworkers downed tools in South Africa on Tuesday in a one-day strike over safety standards, accusing their bosses of putting lives at risk for the sake of profits.
    In the first stoppage by the National Union of Mineworkers, or NUM, since the end of apartheid, production was affected at mines nationwide with some owners saying that barely 5% of the normal workforce was reporting to duty.
    Many of the stayaway workers gathered for rallies organized by the NUM as part of the drive to cut the level of injuries and fatalities in South Africa's mines, where around 200 people die every year.
    Many of the protesters in Johannesburg carried banners saying the owners of the country's 700 mines were "dripping in blood" as they pursued profit at the expense of safety.
    NUM spokesman Lesiba Seshoka said members of the country's biggest union wanted to see dramatic reductions in the level of fatalities.
    "Our safety concerns have not been addressed by our employers over the years. This protest is aimed at achieving this key goal of ensuring safety for all miners in South Africa," he said.
    The country's Chamber of Mines has acknowledged that much needs to be done to improve safety but insists there is no complacency within the industry.
    Its chief executive Zoli Diliza set out plans in October to reduce fatality rates by at least 20% by 2013, acknowledging South Africa's record fell way short of other mining giants such as Australia, Canada and U.S.


    ...


    Gold Fields Ltd. (GFI: GFI) , another of the country's biggest mining firms, reported up to 94% absence at one of its mines.
    "We have just got early estimates that just under 70% of our employees at our four South African operations did not report for work today," said spokesman Andrew Davidson.
    "The largest stayaway is at our Kloof mine where up to 94% of the employees did not report for the morning shift. Obviously this will affect our production."
    Union chiefs have said strike action could be intensified if employers do not make significant inroads into the levels of mining fatalities.
    Concerns over safety reached a new peak in early October when some 3,200 miners were stuck underground in a gold mine southwest of Johannesburg for more than 24 hours after a lift cable snapped.
    The incident led President Thabo Mbeki to order a security audit of the mines in the country.
    Mining, which generated 195 billion rand ($28.5 billion) in local sales last year, is the largest foreign exchange earner for South Africa and brought in a total of 355 billion rand from exports.

  • JOHANNESBURG -- Thousands of South African mine workers downed tools Tuesday in the country's first-ever one-day strike to highlight the high number of fatalities in the industry each year.
    [See more photos]
    AP
    South African miners demonstrated in the streets of Johannesburg Tuesday to highlight the high number of fatalities in the industry each year.


    The strike began at midnight and roughly 240,000 workers were expected to take part in the action over a 24-hour period, Lesiba Seshoka, spokesman for the National Union of Mineworkers, told Dow Jones Newswires.


    In Johannesburg, 40,000 union members were set to gather and march to the offices of the Chamber of Mines, which represents many of the country's largest gold, platinum, coal and other mining companies, Mr. Seshoka said. Other marches and protest actions are planned throughout the country.


    NUM, in a statement ahead of the strike, said it planned to put pressure on South Africa's mining industry -- which produces more gold and platinum than anywhere else in the world and is also a significant producer of other minerals -- and companies it sees having made empty commitments to safety.


    "NUM agrees with the Chamber of Mines that it is our collective responsibility to change the status quo, however employers need to take a leadership role and invest in safety in the same manner they invest in production," the union said.


    The number of deaths in South African mines so far this year surpassed 200 over the weekend with accidents at operations owned by Anglo Platinum Ltd., Xstrata PLC and Gold Fields Ltd., topping the 199 fatalities recorded in all of 2006.


    Chamber officials did not comment on the strike, other than to refer to a joint statement released after a meeting last week with the union at which it was agreed the protest strike would be on a "no work, no pay basis."

  • JOHANNESBURG, Dec. 4 — South Africa’s crucial mining sector was hit Tuesday by its biggest strike in two decades, as tens of thousands of workers stayed home to protest poor safety conditions that contribute to the high death rate among miners.


    The one-day protest affected more than 60 companies mining gold, platinum and coal, according to the National Union of Mineworkers, which represents about 270,000 workers. A spokesman for Gold Fields, the nation’s second biggest gold producer, said about two-thirds of the company’s work force stayed home.


    ...

  • JOHANNESBURG, Dec 06, 2007 (Dow Jones Commodities News via Comtex) -- A worker has been killed and another injured following a rock fall at Gold Fields Ltd.'s (GFI) Kloof mine in South Africa, the company said Thursday.
    The accident occurred in a stope of the Kloof mine's No. 3 shaft, 2,936 meters below the surface.
    Johannesburg-based Gold Fields, the country's second-largest producer of gold, said unions and the country's Department of Minerals and Energy have been informed and a full investigation will be carried out.
    The fatality, one of more than 200 in South Africa's mines this year, follows a one-day strike by members of the National Union of Mineworkers Tuesday organized to highlight safety standards in the industry.


    Company Web site: http://www.goldfields.co.za

  • JOHANNESBURG, Dec 06, 2007 (Dow Jones Commodities News via Comtex) -- (Adds comment from Gold Fields.)
    A worker has been killed and another injured following a rock fall at Gold Fields Ltd.'s (GFI) Kloof mine in South Africa, the company said Thursday.
    The accident occurred in a stope of the Kloof mine's No. 3 shaft, 2,936 meters below the surface.
    Andrew Davidson, a spokesman for Johannesburg-based Gold Fields, the country's second-largest producer of gold, said the shaft and the remainder of the mine continue to operate normally, although there is no mining activity taking place at the stope where the accident took place.
    Unions and the country's Department of Minerals and Energy have been informed and a full investigation will be carried out. Davidson said the company is awaiting a site inspection by the state Inspector of Mines.
    The fatality, one of more than 200 in South Africa's mines this year, follows just days after a one-day strike by members of the National Union of Mineworkers that was aimed at highlighting safety standards in the industry. The country recorded 199 mining deaths in 2006.
    Kloof, near Westonaria southwest of Johannesburg, produced 923,000 ounces of gold and recorded 11 fatalities in the last financial year.
    Company Web site: http://www.goldfields.co.za

  • JOHANNESBURG, Dec 07, 2007 (Dow Jones Commodities News via Comtex) -- Gold Fields Ltd. (GFI), South Africa's second-largest gold producer, Friday said Nerina Bodasing has resigned as senior vice president and head of investor relations to join financial services company Absa Group Ltd. (ASA.JO).
    Her resignation is effective Monday, and her responsibilities will be assumed by Willie Jacobsz in addition to his role in North American investor relations and sustainable development, the Johannesburg-based company said.


    Company Web site: http://www.goldfields.co.za

  • JOHANNESBURG, December 3, 2007 /PRNewswire-FirstCall via COMTEX/ -- Gold Fields Limited (Gold Fields) (NYSE, JSE, DIFX: GFI) is pleased to announce the successful completion of the transaction announced on 12 October 2007, whereby Gold Fields has disposed of all its assets in Venezuela to Rusoro Mining Ltd. (Rusoro) (TSXV: RML).
    Gold Fields received US$180 million in cash and 140 million newly-issued Rusoro shares, which represent approximately 37% of the outstanding shares of Rusoro.
    Gold Fields Limited is one of the world's largest unhedged producers of gold with attributable production of 4.0 million ounces per annum, mineral reserves of 94 million ounces and mineral resources of 252 million ounces. The Group employs some 47,000 permanent employees across its operations and is listed on the JSE Limited South Africa (primary listing), the New York Stock Exchange (NYSE) and the Dubai International Financial Exchange (DIFX).
    http://www.goldfields.co.za
    SOURCE Gold Fields Limited

  • To Highlight Safety Issues


    ...


    Safety took on additional resonance in early October when about 3,200 workers were trapped deep underground for more than a full day at Harmony Gold Mining Co.'s Elandsrand mine southwest of Johannesburg. The workers were evacuated without any serious injuries, but the incident prompted President Thabo Mbeki to order a safety audit of the about 2,800 mining operations in the country.


    ...

  • Dec 10, 2007 (Dow Jones Commodities News via Comtex) -- DOW JONES NEWSWIRES
    Gold Fields Ltd. (GFI) Monday said its total attributable ore reserves, including copper as gold equivalents, fell by 2% as of June 30 from Dec. 31, 2006, to 91.6 million ounces.
    The South African gold exploration and development company said the updated ore reserves reflect increased costs and a higher gold price. Attributable depletion accounted for 2.2 million ounces, while lower pay limits, limited remodelling and discoveries contributed an additional 0.3 million ounces.
    The company's American depositary shares recently traded at $15.64, up 2 cents.

  • JOHANNESBURG, Dec 10, 2007 (Dow Jones Commodities News via Comtex) -- (Adds details.)
    Gold Fields Ltd. (GFI), the world's fourth-largest gold producer, Monday said its attributable ore reserves had declined 2.3% by the end of June, largely due to mining operations.
    Ore reserves, which include copper as gold equivalents, totaled 91.7 million ounces compared with 93.8 million ounces at the end of December, the Johannesburg-based company said.
    The updated figure takes into account increased costs and a higher gold price, which was calculated at 120,000 rand a kilogram in South Africa, $715 a troy ounce in Australia and $550/oz in Ghana, Venezuela and Peru. The copper price was kept constant at $1.25 a pound and as a result equivalent gold ounces decreased by 250,000, Gold Fields said.
    Of the overall decline, mining depletion accounted for 2.2 million ounces, it said.
    Gold reserves at Gold Fields' South African operations were 72.5 million ounces, down 1.9% from December, while gold reserves at the company's international operations were 3.2% lower at 21.8 million ounces.
    Gold Fields' shares ended the day down ZAR1.69, or 1.6%, at ZAR104.70 amid a decline in the broader gold sector in Johannesburg.


    Company Web site: http://www.goldfields.co.za

  • JOHANNESBURG, South Africa, December 10, 2007 /PRNewswire-FirstCall via COMTEX/ -- Gold Fields Limited ("Gold Fields") (NYSE, JSE, DIFX: GFI) on Friday, 7 December 2007, published an updated interim Ore Reserve Statement as at 30 June 2007, as part of its 20F filing and in compliance with NYSE and SEC requirements.
    Total attributable Ore Reserves (inclusive of copper as gold equivalents) decreased by 2% to 91.6 (93.8) million ounces.
    The updated Ore Reserves took account of increased costs and a higher gold price. Attributable depletion accounted for 2.2 million ounces, while lower pay limits, limited remodelling and discoveries contributed an additional 0.3 million ounces. A full remodelling and rescheduling exercise was not undertaken for this interim statement, as this will be done for the June 2008 declaration. The table below compares the June 2007 Reserves with those of December 2006.
    Ore Reserves were calculated using gold prices of R120,000/kg in South Africa; A$715/oz in Australia; and US$550/oz in Ghana, Venezuela and Peru, in line with the SEC guidelines. The copper price was kept constant at 1.25 US$/lb and as a result the equivalent gold ounces decreased by 0.25 million. An external independent auditor has confirmed that the Reserves are classified according to the SAMREC Code.
    The comparason of ore reserves between December 2006 and June 2007 is available on the Gold Fields at http://www.goldfields.co.za.
    Gold Fields Limited is one of the world's largest unhedged producers of gold with attributable production of 4.0 million ounces per annum, total attributable ore reserves of 92 million ounces and mineral resources of 252 million ounces. The Group employs some 47,000 permanent employees across its operations and is listed on the JSE Limited South Africa (primary listing), the New York Stock Exchange (NYSE) and the Dubai International Financial Exchange (DIFX).
    For further details refer to the 20-F form as lodged with the SEC
    SOURCE Gold Fields Limited

  • JOHANNESBURG, Dec 10, 2007 (Dow Jones Commodities News via Comtex) -- Harmony Gold Mining Co. (HMY), South Africa's third-largest gold producer, Monday said it has been granted new mining rights for all its operations in the country.
    The so-called new order rights, given by the Department of Minerals and Energy under South African mining laws that require all companies reapply for prospecting and mining licenses, cover 13 operations.
    "The granting of Harmony's mining rights for our South African mining operations will create stability and long-term sustainability of our business," acting Chief Executive Graham Briggs said.
    Briggs said the rights would also ensure the development of communities where Harmony's mining operations are located and from where it recruits employees.
    The first mining right to be granted covers Harmony's Target operation and the company said it and the government plan to convert mining rights in the country's Free State province by Dec. 21 and across other provinces by the end of January.
    The granting of the new order rights includes a commitment by Harmony to local economic development, including programs focused on poverty alleviation, job creation and low-cost housing development in local communities. It also includes skills development through schemes such as internships and mining community bursaries, as well as working with suppliers and helping develop healthcare infrastructure.

  • Da hat sich schon Harmony die Zähne daran ausgebissen....GFI ist ein mächtiger Happen....nichts desto trotz bewertungstechnisch nur die Hälfte von Nemont.....das könnte insbesondere hinsichtlich der grossen Reserven und Resourcen Begehrlichkeiten wecken....ich glaubs aber nicht.....nachkaufen auf dem derzeitgen Niveau überlege ich im Moment

  • Ich erinnere mich gut an jene Episode. GOLI verdankte die bleibende Eigenständigkeit vor allem Norilsk Nickel.
    Nun befindet sich Gold Fields wieder unter dem diesjährigen Tiefst von August. Das von Ian ausgerufene Jahr der Konolidierung hat es in sich.
    Zum Traden könnte man den GOLI verwenden, steigen tun die bestimmt wieder. Momentan ist's einfach elend mühsam.
    Q2-Results dann am 31. Januar 2008.
    Gruss,

  • JOHANNESBURG, Dec 20, 2007 (Dow Jones Commodities News via Comtex) -- Gold Fields Ltd. (GFI), Africa's second-largest gold producer, Thursday said it expects attributable production in the second quarter of the financial year will be down about 3.5% on the previous quarter and dollar cash costs up 8%.
    The Johannesburg-based company is due to publish its second-quarter results on Jan. 31.


    Company Web site: http://www.goldfields.co.za

  • JOHANNESBURG, December 20, 2007 /PRNewswire-FirstCall via COMTEX/ -- Gold Fields Limited ("Gold Fields") (GFI: gold fields ltd new sponsored adr) today published an updated operational guidance statement for Q2 F2008.
    Overall attributable production* for Q2 F2008 is expected to be down approximately 3.5% compared to that reported for Q1 F2008 and group total cash costs is expected to increase by approximately 8% in US$ terms and 3% in Rand terms.
    Production from the South African mines is expected to be down by approximately 7% against the production achieved for Q1 F2008, largely as a result of a variety of safety related events including accidents, work stoppages and suspensions of operations ordered by the Department of Minerals and Energy.
    Attributable production from the International mines, excluding Choco 10, is expected to increase by approximately 1.5%.
    Gold Fields will publish its results for Q2 F2008 on Thursday, 31 January 2008.
    *Choco 10, which was sold early in the quarter, will be accounted for as a discontinued operation, and is excluded from all comparisons.
    Gold Fields Limited is one of the world's largest unhedged producers of gold with attributable production of more than four million ounces per annum, total attributable ore reserves of 92 million ounces and mineral resources of 252 million ounces. The Group employs some 47,000 permanent employees across its operations and is listed on the JSE Limited South Africa (primary listing), the New York Stock Exchange (NYSE) and the Dubai International Financial Exchange (DIFX).
    http://www.goldfields.co.za
    SOURCE Gold Fields Limited

  • JOHANNESBURG, Dec 18, 2007 (Dow Jones Commodities News via Comtex) -- Harmony Gold Mining Co. (HMY), Africa's third-largest gold producer, is set to make an announcement early Wednesday on the uranium assets at one of its South African mines.
    The Johannesburg-based company in an e-mailed statement Tuesday said it would make an announcement "on realizing value from the Randfontein uranium assets."
    Acting Chief Executive Graham Briggs in October said the company was considering selling certain mines and could put on the block the Randfontein mine, including both the gold and uranium reserves and underground and surface operations.
    He at the time said Harmony was waiting for the assay results from drilling the mine's waste dams for a clearer indication of the uranium they may contain, but he said the company would consider selling Randfontein, a separate listing or a joint venture.
    An agreement to sell the mine's Cooke uranium dump expired unsuccessfully at the end of September.
    Randfontein is located about 30 kilometers west of Johannesburg, with mining done at depths ranging from 500 to 2,500 meters.
    Company Web site: http://www.harmony.co.za

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