PRECIOUS METALS

Expanded Harmony on track ahead of guidance update

Set to meet full-year production guidance

Staff reporter

This article is 3 years old. Images might not display.

It said it had met its mid-year production guidance, excluding the 103,525 ounces contributed by the AngloGold Ashanti assets acquired on October 1.

The assets in South Africa included Mponeng, the world's deepest gold mine, and Mine Waste Solutions. 

Harmony said December quarter production had increased by 38% to 431,622oz and the average recovered underground grade had risen 9% to 5.8g/t, compared with the September quarter.

"The integration of Mponeng and Mine Waste Solutions went according to plan and contributed both to the quality of the ounces produced and overall production," CEO Peter Steenkamp said.

The higher production was also due to the effective measures adopted in preventing and mitigating the impact of COVID-19 and disciplined mining, Harmony said.

The company said it would provide updated annual guidance, including projections for the former AngloGold Ashanti assets, along with its half-year financial results on February 23.

Its shares (JSE: HAR) have doubled since the March 2020 COVID-19 sell-off but are about half the peak reached in August as gold reached record highs.

They closed down 0.24% yesterday to R67.66, capitalising it at R40.42 billion (US$2.7 billion).  

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.