⌛ Did you miss ProPicks’ 13% gains in May? Subscribe now & catch June’s top AI-picked stocks early.Unlock Stocks

UPDATE 2-Security worker killed in attempted robbery at Harmony Gold plant in South Africa

Published 20/12/2019, 10:57 pm
© Reuters.  UPDATE 2-Security worker killed in attempted robbery at Harmony Gold plant in South Africa
XAU/USD
-
RIO
-
RIO
-
GC
-
HARJ
-
DRDJ
-

* Harmony Gold security contractor killed in attack on Friday

* Nine attacks targeted gold industry this year

* Security officer died in armed robbery at DRDGOLD plant in Oct

* Mining industry "under siege" - Minerals Council CEO (Adds Minerals Council statement)

By Helen Reid

JOHANNESBURG, Dec 20 (Reuters) - A security contractor was killed on Friday in an attempted armed robbery on a Harmony Gold HARJ.J plant west of Johannesburg, the latest fatal incident at a mining company in South Africa.

High gold prices are making processing plants a target for criminals in South Africa, leading to a spate of armed robberies at mining operations, and the head of the country's main mining industry body called for more police resources to tackle the problem.

No gold was stolen from Harmony's Kalgold plant, about 330 km (205 miles) from Johannesburg, in the attack in the early hours of Friday, the company said.

"A reaction unit supervisor employed by a contracted security company was fatally wounded in an armed attack on the plant... in the early hours of this morning," Harmony Gold said in a statement.

The South African Police Service (SAPS) was investigating the incident, the miner said.

The Minerals Council, an industry body representing mining companies, said there have now been nine "significant" attacks on the gold industry in the past year, in which employees and security personnel have been held hostage and assaulted, and in two cases killed.

Minerals Council CEO Roger Baxter (NYSE:BAX) said a lack of police resources to prevent these violent assaults was a major threat to the industry.

"Essentially, the industry is under siege. These crimes are hurting South Africa's investment and economic prospects and urgent action is required," Baxter said in a statement calling for intervention from the Minister of Police and the Minister of Mineral Resources and Energy.

In a similar incident in October, armed men broke into a metallurgical plant owned by DRDGOLD DRDJ.J , killing the gold miner's chief security officer and stealing calcine concentrate containing an estimated 17 kg of gold. price of gold - in U.S. dollars - has surged more than 15% this year, the strongest gain in the precious metal's value since 2010. XAU=

In a country on the brink of recession, with unemployment at an 11-year high, illegal gold mining and trading, and armed robberies of gold plants are on the rise.

Escalating violence targeting some of its workers drove Anglo-Australian miner Rio Tinto (LON:RIO) RIO.AX to curtail operations at its South African unit Richards Bay Minerals, which mines ilmenite, rutile, and zircon, earlier this month. said that due to the ongoing police investigation it would give no further information on the incident on Friday for the time being.

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.