Harmony Gold Mining Company has committed its full support for the COVID-19 directives announced by South African President Cyril Ramaphosa.
The core directive is a 21-day lockdown for South Africans from
midnight on Thursday, 26 March 2020, until Thursday, 16 April 2020.
All of South Africa’s mining operations are required to be placed
on care and maintenance.
Statement from Harmony Gold:
President Ramaphosa announced a broad range of measures to be taken
to mitigate the impact of the lockdown on South Africa’s economy.
The health and well-being of all our employees remain a top priority.
To protect our assets and ensure people’s livelihoods to the extent possible and reasonable, we will ensure the orderly implementation and management of placing our mines on care and maintenance for the duration of the lockdown.
Our board, executive and management are at work on detailed arrangements to manage the effects of the lockdown on our business and will be in a position to disclose more detailed information to our stakeholders over the next two days.
Shareholders are cautioned that the COVID-19 directive will impact
negatively on Harmony’s annual production guidance of 1.4 Moz and thus on the company’s FY2020 earnings.
“This is an unprecedented time in the history of the mining industry
and our country. The health and safety of all South Africans must
take precedence and as such, we are committed to making decisions
that will ensure the continued viability of our company,” says Peter
Steenkamp, Harmony’s CEO.