A recent trading update shows Harmony Gold’s output lagging in the first quarter. The miner reported an 8% year-on-year slip in production and a 15% jump in all-in sustaining costs, citing planned maintenance and operational challenges at its Mponeng and Doornkop mines.
Still, soaring gold prices pushed revenue up by a fifth to R21.69bn, with Harmony’s net cash increasing 53% to R17.1bn in the three months to end-September. Despite a 20% plunge in Mponeng’s output, the group maintained its full-year guidance.
