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Harmony Gold Mining Co.Share Price Drops after Mining Accident

Harmony Gold Mining Co.Share Price Drops after Mining Accident (Bloomberg)

Harmony Gold Mining Co. (NYSE: HMY) suffered a share-price drop of more than 5 percent Wednesday after announcing that nine of its employees are unaccounted at the Doornkop mine in South Africa due to a fire that broke out more than a mile underground. The fire began at about 6 p.m. local time Wednesday and rescue teams were sent underground to help but their progress has been hampered by smoke and “a fall of ground,” the Johannesburg-based company reported in a statement. However, eight miners who had been trapped initially were brought to the surface later in the day and the fire has been put out. The eight rescued miners will be kept under medical observation tonight as a precaution. Non-essential operations at the mine have been suspended. The stock closed at $2.67, down 5.32 percent.

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Harmony Gold Mining Co. (NYSE: HMY) suffered a share-price drop of more than 5 percent Wednesday after announcing that nine of its employees are unaccounted at the Doornkop mine in South Africa due to an underground fire.

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Harmony Gold Mining Co.Share Price Drops after Mining Accident

Harmony Gold Mining Co. (NYSE: HMY) suffered a share-price drop of more than 5 percent Wednesday after announcing that nine of its employees are unaccounted at the Doornkop mine in South Africa due to an underground fire.

Harmony Gold Mining Co.Share Price Drops after Mining Accident (Bloomberg)

Harmony Gold Mining Co. (NYSE: HMY) suffered a share-price drop of more than 5 percent Wednesday after announcing that nine of its employees are unaccounted at the Doornkop mine in South Africa due to a fire that broke out more than a mile underground. The fire began at about 6 p.m. local time Wednesday and rescue teams were sent underground to help but their progress has been hampered by smoke and ??a fall of ground,? the Johannesburg-based company reported in a statement. However, eight miners who had been trapped initially were brought to the surface later in the day and the fire has been put out. The eight rescued miners will be kept under medical observation tonight as a precaution. Non-essential operations at the mine have been suspended. The stock closed at $2.67, down 5.32 percent.

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Written By

Paul Dykewicz is the editorial director of the Financial Publications Group at Eagle Publishing Inc., www.eaglepub.com, of Washington, D.C. Eagle publishes five free, e-letters, 10 weekly trading services and five monthly investment newsletters, Forecasts & Strategies, Successful Investing, Cash Machine, Growth & Dividend Report and The Alpha Investor Letter. He also is the editor of Eagle Daily Investor and the author of the inspirational book, "Holy Smokes! Golden Guidance from Notre Dame's Championship Chaplain."

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