Harmony Gold, Other SA Miners Settle Silicosis Class Action Litigation

By Dimitrios Kontos

Harmony Gold Mining Co. (HAR.JO) said Thursday that a working group representing the company and other South African miners has reached an agreement with lawyers representing claimants in the silicosis class action litigation.

The working group also represents African Rainbow Minerals Ltd. (ARI.JO), Anglo American PLC (AAL.LN), AngloGold Ashanti Ltd. (ANG.JO) , Gold Fields Ltd. (GFI.JO) and Sibanye-Stillwater Ltd. (SBGL).

The agreement is still subject to ratification by the High Court, and once that and certain other conditions are met it will be possible to withdraw the appeal in the Supreme Court of Appeal of the Johannesburg High Court delivered in May 2016, the gold miner said.

The class action suit was launched on behalf of miners who contracted silicosis and tuberculosis in gold mines.

The companies said last year they estimated the cost of the settlement to be about 5 billion South African Rand ($395 million).

Harmony welcomes the settlement, which represents a fair outcome for claimants and a sustainable outcome for the companies, it said.

Write to Dimitrios Kontos at [e-mail]

(END) Dow Jones Newswires

May 03, 2018 10:29 ET (14:29 GMT)

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