Largest gold mining companies in Africa, Harmony Gold Mining companies to report earnings during the period of four quarter fall of 13 percent per share. Companies consider the dividend payment this year. Harmony Gold Mining’s acquisition plan and invest in new projects that can help the growth of the company.

The company’s current condition, Harmony Gold still feel optimistic for the company can increase revenue, because the company still expects increased gold production in Africa and the improved price of gold sales.

Graham Briggs, Harmony’s CEO, said the company has seen a number of potential acquisitions, with the main criteria of a good back and add value to the group’s portfolio of assets, but not yet found valuable asset purchase.

“Most of the sales operation to require large capital to bring them to an acceptable level of profitability and some projects that will bring a lot of development costs,” said Briggs.

Incompatible with the background of the new pay deal for workers, higher electricity tariffs and a stronger rand / dollar exchange rate, the company forecast costs will rise.

He said the strength of rand against the dollar is the main focus for the company, and this trend continues, the company will introduce the incremental cutbacks from marginal mining operations and the reduction of capital.

Briggs forecast akan gold trade in $ 1000 and ounce by the end of calendar year 2009, demand is driven by public investment and the role of the metal as a store wealth.

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