Johannesburg, Tuesday, 30 June 2026. Beyers Nel, chief executive officer of Harmony Gold Mining Company Limited (“Harmony” and/or the “Company”), provides a pre-year-end update ahead of the financial year-end on 30 June 2026 (FY26).
“Safety remains our highest priority and our most important measure of success. While key safety indicators continue to improve, our journey towards zero harm is far from complete. We continue to measure progress through both leading and lagging indicators to strengthen prevention and reduce serious incidents. Our commitment remains steadfast: every employee and contractor must return home safely every day.
Against this backdrop, FY26 has been another year of consistent execution, strong cash generation and meaningful progress in building a higher-margin, more durable business.
Our capital allocation framework is focused on disciplined investment and compounding long-term per-share value. We are prioritising safe and reliable operations, balance sheet strength, selective reinvestment in higher-margin assets, and sustainable shareholder returns. Importantly, all our major projects are being funded from internally generated cash flows and capital-efficient funding structures, preserving financial flexibility while improving the margin profile, durability and overall strength of our portfolio.
Harmony has met its annual gold production guidance for the 11th consecutive year, with production expected to be between 1.4 million and 1.5 million ounces, underground recovered grades of approximately 5.80g/t, all-in sustaining costs within guidance, and capital expenditure slightly below plan. This performance reflects our focus on safe, predictable production, execution discipline and the strength of our asset base.
The CSA copper mine is also expected to deliver towards the upper end of guidance, with production of 17 500 to 18 500 tonnes of copper, cash costs below guidance and recovered grades above guidance. These results provide tangible evidence of the value we saw in acquiring a high-grade, producing copper asset in a tier-one jurisdiction, while diversifying revenue streams and broadening the Group’s earnings base. With the capital ventilation project on track, we are advancing the key infrastructure required to unlock CSA’s next phase of value creation and position the mine to grow into a 40 000 tonne-per-annum copper producer.
The Eva Copper project in Queensland, Australia, remains one of the most compelling growth opportunities in our portfolio and a key component of Harmony’s strategy to increase copper production in a tier-one mining jurisdiction while enhancing the scale, margin profile and longevity of our asset base. Project execution continues to progress well. All long-lead equipment has been secured, major contracts have been awarded, and the project is moving forward in line with our disciplined approach to de-risking and delivery. Construction activities are continuing, including work associated with the process plant and related infrastructure.
During land-clearing activities, a protected species was identified within the project area. In keeping with our commitment to responsible environmental stewardship and regulatory compliance, clearing activities were paused while we engaged with regulators, environmental specialists, government stakeholders and other interested parties to determine the appropriate way forward. We are working constructively and collaboratively with these stakeholders. Our focus is on balancing environmental responsibilities with continued project advancement. This has enabled us to reprioritise certain activities and maintain momentum while the required assessments and engagements continue. We remain committed to developing Eva Copper responsibly and sustainably, and we will keep the market informed of any material development.
Robust cash generation and operational consistency in FY26 enabled us to return a record R4.4 billion to shareholders through dividends over the past 12 months, while continuing to fund our operational requirements and growth priorities. Our MSCI ESG rating upgrade to ‘A’ further demonstrates the progress we are making in embedding sustainable and responsible business practices across the Group.
Harmony enters FY27 from a position of strength, with a robust balance sheet, solid operating momentum, high-margin gold assets and a growing copper business that supports through-the-cycle durability.
We thank all our stakeholders and shareholders for their continued support.
Please join my management team and me for our in-person FY26 results presentation on 27 August 2026 at 10:00 (South African time) at the JSE Limited in Sandton. We will reflect on our FY26 performance and provide an update on our strategy, growth projects and FY27 capital allocation priorities.”
The financial information on which this update is based has not been reviewed or reported on by the Company’s external auditors.
For more details, contact:
Jared Coetzer
Head: Investor Relations
+27 (0)82 746 4120
JSE Sponsor: J.P. Morgan Equities South Africa Propriety Limited