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Gold/Mining/Energy : Gold Price Monitor
GDXJ 99.85+6.2%Nov 24 4:00 PM EST

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To: PaulM who wrote (51713)4/19/2000 10:58:00 AM
From: Alex  Read Replies (1) of 116764
 
Harmony to sell branded gold online



Johannesburg ? Harmony, the only producer that refines and sells its own branded gold, on Wednesday announced that it would be making its unique 10-tola bar available for sale on the internet at www.harmony.co.za.

However South Africans would be able to participate in this venture because the law still classifies 10-tola bar as unwrought precious metal.

"We do not agree with this and aim to pursue this matter with the South African Reserve Bank. It is surely time that South Africans are allowed to hold physical gold for investment purposes," Bernard Swanepoel, Harmony chief executive, said.

Swanepoel said the company had been successful in distributing its branded products to the Indian market.

The initial product would be in its 10-tola bar, which would satisfy demand from the company's European and North American shareholders and investment markets.

The range will expanded to include other products in the near future.

Sapa



news.24.com
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