CAPITAL MARKETS

Harmony to top resources count

SOUTH Africa's Harmony Gold expects to control the world's largest gold resources and fifth-largest reserves if its shareholders and those of black empowerment group ARMgold back the merger between the two at a meeting later this month.

Greg Tubby

Harmony said if the merger goes ahead it would control 410 million ounces of resources and 62Moz of reserves. Using a gold price of R93,000 per kilogram (US$358/oz), Harmony said the merged company...

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