Harmony cuts 2012 output target on safety clampdown

Harmony Gold, South Africa's third-largest bullion miner, cut its full-year production target by 13% on Monday, as safety stoppages threatened to crimp a surge in profit from record gold prices. Harmony, which more than doubled its second-quarter earnings compared with the first quarter as it reaped the benefits of a weak rand and a sky-high gold price, said shutdowns because of fatalities could take some lustre off its future output.

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