Gold mining company Harmony Gold, which spent R2.3-billion capital expenditure (capex) on its South African operations in the 12 months to June 3, will be increasing its capex to R2.7-billion for mainly the ongoing development of the Phakisa and Tshepong gold mines in the Free State. The company, which recorded a net profit of R362-million, has just concluded a new dollar funding facility of $350-million, on which only $140-million has been drawn down to date, and R300-million on its R1-billion funding facility, which places it in a good position to fund any other growth opportunities. (Also watch attached Creamer Media video).
