Support for Harmony to raise $200m

JOHANNESBURG  – Harmony Gold shareholders yesterday unanimously supported the company’s $200 million (R3.31billion) capital raise for the acquisition of AngloGold Ashanti’s remaining Mponeng mine and Mine Waste Solutions (MWS) in South Africa..

The shareholders gave the capital raise a thumbs up during a virtual extraordinary general meeting with a 99percent vote.

Chief executive Peter Steenkamp told the media on the sidelines of the meeting that the acquisition of Mponeng and MWS remained a perfect fit for the group.

“This is still a perfect fit for Harmony. The rationale for doing this transaction is still valid,” he said adding that the Covi-19 pandemic had a short term impact on the deal.

Initially, Harmony had expected to fund the transaction through debt facilities and cash, however, given the uncertainty caused by the Covid-19 pandemic it was compelled to approach its shareholders for funding.