Harmony Gold Mining Ends Sale Agreement With Monarch Gold

Harmony Gold Mining Co. (HAR), Africa's third-largest producer of the metal, halted talks with Monarch Gold Mining Co. after the Perth-based company put it itself under voluntary administration.

``The administrator has indicated that Monarch will not proceed with the proposed purchase and consequently the purchase agreement has been terminated,'' Johannesburg-based Harmony said in a statement to the city's stock exchange today. Harmony received from Monarch a deposit of A$5 million ($4.7 million), of which A$2.5 million is refundable, it added.

To contact the reporter on this story: Janice Kew in Johannesburg at jkew1@bloomberg.net.

To contact the editor responsible for this story: Daniel Hauck at dhauck1@bloomberg.net.

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