HomeGoldHarmony suspends Pamodzi talks

Harmony suspends Pamodzi talks

A view of Pamodzi’s
Free State operations
 
Johannesburg, South Africa — MININGREVIEW.COM — 31 August 2009 – Harmony Gold Mining Company Limited has announced that it has decided to suspend negotiations regarding Pamodzi Gold’s Free State assets.

In a statement issued here, Harmony said it noted the recent public statements made regarding the proposed recapitalisation of the Pamodzi Gold group of companies. “Harmony has been in negotiations with the provisional liquidators of Pamodzi Gold Free State (Proprietary) Limited regarding the potential acquisition of the assets of Pamodzi Gold Free State, since April 2009.

“Harmony believes that it has offered a fair price and that the potential acquisition, if implemented, will provide a sustainable future for the relevant stakeholders in the Free State,” the statement added.

“As a result of the recent developments, Harmony advises that it has decided to suspend negotiations with the provisional liquidators of Pamodzi Gold Free State in respect of the potential acquisition, in order to allow all stakeholders an opportunity to assess the proposed recapitalisation and the likelihood of it succeeding,” Harmony stated.

The statement went on to say:“Harmony’s decision as to whether or not to recommence negotiations with the provisional liquidators of Pamodzi Gold Free State will be made in due course, depending on developments regarding the proposed recapitalisation.”

LATEST FEATURES