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The gold mining company reported a sharp increase in profits on Friday for the quarter to September 30 - from R3.48-billion in the previous quarter to more than R4-billion.

Harmony Gold Mining made a profit in its financial first quarter after output rose and costs fell, Africa’s third-largest gold producer said on Friday.

JSE-listed Harmony Gold has, for the second consecutive quarter, lifted gold production 12% to 9 635 kg for the first three months of the 2014 fiscal year, from 8 588 kg in the prior quarter.

Harmony Gold Mining Company [JSE:HAR] on Friday posted a quarterly profit after two previous quarterly losses as it improved production and grades.

South African gold producer Harmony Gold Mining Company Ltd on Friday posted a quarterly profit after two previous quarterly losses as it grew production and grades.

Harmony and Sibanye are “breaking down the farm fences” – Neal Froneman

Its latest set of results can be seen as an argument for acquisition.

The ramp-up of Kusasalethu, improved grades from other mines, and vigorous cost-cutting helped Harmony Gold rekindle that profitable feeling for the September quarter.

South Africa's second-largest gold producer Harmony Gold has reached an agreement with striking employees and hopes that operations will return to normal this week, a spokesperson said on Sunday.

Operations should resume this week after Harmony Gold Mining announced a settlement with striking workers.

South Africa's Harmony Gold has reached an agreement with striking employees and hopes that operations will return to normal this week, a spokeswoman said on Sunday.

Harmony Gold urged workers to return to work for the September 8 night-shift after agreeing to wage increases the company said was 'in line' with other agreements between the National Union of Mineworkers and gold producers last week.

A gold miners' strike has ended after workers at Harmony Gold accepted a final wage offer, the country's second-largest producer of the precious metal said Sunday.

Speaking on behalf of the Chamber of Mines Gold Producers Committee, Chief Labour Negotiator Dr Elize Strydom welcomed Minister of Mineral Resources Susan Shabangu’s address to Parliament on her budget vote.

Harmony Gold Mining’s austerity measures aimed at reducing services and corporate costs in South Africa and cutting capital expenditure for the 2014 financial year locally and in Papua New Guinea have highlighted challenges in the mining industry as a result of the weak gold price.

Austerity will be the buzzword for Harmony Gold, which is looking to slice R1.8bn from its cost bill, mainly by reducing project spend at its Wafi-Golpu asset in Papua New Guinea (PNG).

CEO Graham Briggs talks about measures that will be taken to cut costs before financial year-end, adding “we need to be profitable at a level of $1 400/oz.”

South African gold producer Harmony Gold plans to cut its service and corporate costs in South Africa by R400-million and its overall capital expenditure (capex) in South Africa and Papua New Guinea by R1.4-billion in the 2014 financial year, Harmony Gold CEO Graham Briggs said on Friday.

Harmony Gold reported March quarter results reflecting the impact of the closure and slow resumption of work at its Kusasalethu mine, and it is looking at cutting R1.8bn out of costs.

HARMONY Gold was not yet considering restructuring, but it said it would adopt a series of "austerity measures" - effectively capital cost reductions - which extended to its Wafi-Golpu project in Papua New Guinea.

Harmony is optimistic it is one step closer to signing an agreement with labour representatives to restart production at Kusasalethu to resume. We break down the details with CEO Graham Briggs.

South Africa's third largest gold miner, Harmony Gold, is set on keeping their Kusasalethu mine, near Carltonville closed despite predictions of its reopening after Christmas last year.

Harmony Gold is to delay start-up at its Kusasalethu mine and it’s threatening to put it on care and maintenance. CEO Graham Briggs lets us in on the rational behind the move.

Harmony Gold Mining Co. Chief Executive Officer Graham Briggs discusses the outlook for the Kusasalethu mine in Carletonville, west of Johannesburg.

Annual report

Integrated annual report 2016
Integrated annual report 2016

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Investor brief

Harmony Investor brief, Sep 2017
September 2017 -
Harmony Investor brief

(PDF - 6.5MB)

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