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Mining News January 27, 2022 02:35:50 PM

Harmony Gold Announced Stable Gold Output from South African Operations

Paul Ploumis
ScrapMonster Author
The gold production from the Hidden Valley mine in Papua New Guinea totalled 60,153 ounces, falling significantly by 26% against the comparable six-month period.

Harmony Gold Announced Stable Gold Output from South African Operations

SEATTLE (Scrap Monster): Harmony Gold Mining Company Ltd. announced latest update on its production during the initial six-month period of FY22. The half-yearly results were more or less in line with the previous guidance. The company is due to announce its interim results on 28th February, 2022.

The H1FY22 gold production from the South African operations remained steady at 718,726 ounces, when compared with the production which totalled 708,310 ounces during the previous six-month period ended 30th June, 2021. The Rand per kilogram costs for the South African operations remained broadly in line with the original guidance.

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The gold production from the Hidden Valley mine in Papua New Guinea totalled 60,153 ounces, falling significantly by 26% against the comparable six-month period. This was mainly on account of geotechnical issues which prevented the effective mining of Stage 6 of the open pit.

The gold production from Hidden Valley mine for the full financial year ending 30th June, 2022 has been revised downwards to 115,000-117,000 ounces, down from previous guidance of 153,000-161,000 ounces. The revised guidance will result in nearly 4% adjustment to total yearly production.

Meantime, the guidance for South African operations has been kept unchanged within the original cost range.

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