Harmony Proceeds In Gold Fields Bid

South African goldminer Harmony announced Gold on Thursday that 11.8 percent of its rival Gold Fields issued share capital had been tendered into its early settlement offer from the 10.8 percent.

Russia's metals giant Norilsk Nickel fully supports Harmony to accept the subsequent offer in respect of 98.468-million Gold Fields shares, representing about 20.03 percent of the entire issued share capital of Gold Fields.

As a result, Harmony now either owns, has received tenders pursuant to guaranteed delivery procedures or has an irrevocable undertaking to accept the subsequent offer in respect of a total of 156.462-million Gold Fields shares representing about 31.8 percent of the entire issued share capital of Gold Fields.