Friday, 8th October 2004 (2493 views)

South Africa's Harmony Gold Mining has announced today that it has signed an agreement on the maintenance of its trackless fleet at its Target Mine.

The deal with Sandvic Mining and Construction (SMC) will be run on a unit cost payment basis.

Bernard Swanepoel, chief executive, commented: "This agreement demonstrates that our contractors have accepted that they will now be measured on the same parameters as that of the company, in rand per tonne terms, where we have the same goal and focus.

"We feel confident that the two parties have set the stage for future agreements with other suppliers of this mutually rewarding nature."

The deal is part of Harmony's current cost cutting drive and this new contract will have an immediate effect on reducing mining costs.

 

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