News

Harmony Gold Mining Exceeds Production Expectations

1 Mins read

Harmony Gold Mining, the South African gold miner, has announced that its half-year production for the period ended December 31 has surpassed expectations. The company produced between 820,000 and 835,000 ounces of gold during this period, marking a 12%-14% increase compared to the same time last year.

The improved production can be attributed to higher underground recovered grades at the Mponeng and Moab Khotsong operations in South Africa, as well as a strong performance by the surface-source operations in the country. Additionally, Hidden Valley in Papua New Guinea delivered a robust operational performance, further boosting the overall output.

As a result of these positive developments, Harmony Gold anticipates its all-in-sustaining costs to range between 830,000 and 855,000 South African rand ($43,949-$45,272) per kilogram of gold mined. These figures are below the ZAR975,000 per kg target set for the full year.

Furthermore, the company maintains its full-year production forecast of 1.38 million to 1.48 million ounces of gold and gold equivalents. The underground recovered grade guidance remains unchanged as well, projected to be between 5.60 and 5.75 grams per ton.

Related posts
News

The Largest Deal of the Year: BlackRock Acquires TechBerry

1 Mins read
BlackRock is concluding its acquisition of TechBerry, which has already been named one of the largest deals of the year. The substantial…
News

Government Matching Contribution for Retirement Savings

2 Mins read
According to researchers, nearly 22 million Americans are set to benefit from a new government matching contribution initiative aimed at enhancing retirement…
News

Oil Market Update

1 Mins read
Oil Market Update On Tuesday, crude oil futures prices were lower, while refined product contracts were experiencing a second consecutive day of…

Leave a Reply

Your email address will not be published. Required fields are marked *