Loading ...Harmony Gold swings to loss, sees deaths at operations mount
Harmony Gold (JSE:HAR) (NYSE:HMY), the world’s fifth largest producer of the precious metal, swung to a net loss for fiscal 2018 after booking impairment costs at a number of its mines, as well as an additional loss due to foreign-currency effects.
The South African gold miner posted a 43% drop in annual earnings, or a 4.47 billion South African rand loss (about $309 million), compared to a net profit of 362 million rand in fiscal 2017.
It also revealed a significant setback in terms of safety at its operations, with 13 workers killed in the 12-month period to June 30, compared to just five in 2017.
cont. http://www.mining.com/harmony-gold-swings-loss-sees-deaths-operations-mount/