{"id":7686,"date":"2012-02-06T13:44:53","date_gmt":"2012-02-06T11:44:53","guid":{"rendered":"http:\/\/www.myza.co.za\/02\/update-2-harmony-cuts-2012-output-target-on-safety-clampdown\/"},"modified":"2012-02-06T13:44:53","modified_gmt":"2012-02-06T11:44:53","slug":"update-2-harmony-cuts-2012-output-target-on-safety-clampdown","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-2-harmony-cuts-2012-output-target-on-safety-clampdown\/","title":{"rendered":"UPDATE 2-Harmony cuts 2012 output target on safety clampdown"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Harmony Q2 headline EPS 242 cents vs 95 cents in Q1<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Earnings beat consensus estimate of 159 cents<\/p>\n<p><span><\/span><\/p>\n<p>* Interim dividend of 0.4 rand<\/p>\n<p><span><\/span><\/p>\n<p>By Sherilee Lakmidas<\/p>\n<p><span><\/span><\/p>\n<p>JOHANNESBURG, Feb 6 (Reuters) &#8211; Harmony Gold,<br \/>\nSouth Africa&#8217;s third-largest bullion miner, cut its full-year<br \/>\nproduction target by 13 percent on Monday, as safety stoppages<br \/>\nthreatened to crimp a surge in profit from record gold prices.<\/p>\n<p><span><\/span><\/p>\n<p>Harmony, which more than doubled its second quarter earnings<br \/>\ncompared with the first quarter as it reaped the benefits of a<br \/>\nweak rand and a sky-high gold price, said shutdowns because of<br \/>\nfatalities could take some lustre off its future output.<\/p>\n<p><span><\/span><\/p>\n<p>South Africa&#8217;s government has been clamping down on miners<br \/>\nto cut their accident rates, leading to lower output. Mines are<br \/>\nusually shut down for several days at a time following a<br \/>\nfatality.<\/p>\n<p><span><\/span><\/p>\n<p>Shares of Harmony surged more than 4 percent as investors<br \/>\nfocused on its better-than-expected results.<\/p>\n<p><span><\/span><\/p>\n<p>After seven fatalities at its operations during the<br \/>\nOctober-December quarter, Harmony has cut its production target<br \/>\nto 1.35 million ounces, from the previous target of 1.55 million<br \/>\nounces.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Harmony Q2 headline EPS 242 cents vs 95 cents in Q1 * Earnings beat consensus estimate of 159 cents * Interim dividend of 0.4 rand By Sherilee Lakmidas JOHANNESBURG, Feb 6 (Reuters) &#8211; Harmony Gold, South Africa&#8217;s third-largest bullion miner, cut its full-year production target by 13 percent on Monday, as safety stoppages threatened [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-7686","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/7686","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=7686"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/7686\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=7686"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=7686"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=7686"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}