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Mining Weekly editor Martin Creamer speaks to Creamer Media's Sashnee Moodley about the details on Harmony Gold’s investor brief, in which the company declared that the acquisition of Moab Khotsong gold mine held many advantages.

In line with its capital allocation strategy and its aim to improve its portfolio, which includes 17 operations in nine countries, Anglogold Ashanti is selling its newest mine to Harmony Gold for $300 million and another mine for R100 million.

Harmony Gold plans to buy assets from AngloGold Ashanti for $300m. We speak to Harmony’s CEO Peter Steenkamp for more detail.

Harmony is looking for more hedging opportunities to buffer the company and allow it to invest in growth.

Dual-listed Harmony Gold has secured cash margins through a successful hedging strategy, realising gains of R1 747 million.

South African miner Harmony Gold reported a 35% rise in full-year profit on Thursday and said it will look at growth, exploration and acquisitions to meet its 2019 production targets.

Harmony Gold says it has delivered on its strategy to produce safe profitable ounces and increasing margins.

Harmony Gold declared a final dividend for the year ended June 30 of 35 cents per share taking the total dividend to 85c/share – a 70% increase year-on-year performance that CEO, Peter Steenkamp described as “disciplined”.

Harmony Gold is to write-down R1.7bn in gold reserves and resources when it unveils its full-year results ended June 30, the company said in an announcement today.

But the attraction of Hidden Valley remains hidden.

Harmony Gold on Thursday declared a dividend for the six months to the end of December in addition to reporting that it had repaid “most of its debt”.

Harmony Gold swung back into a profit for the six months ended December 31, with earnings lifted by gains from gold and currency hedges.

Harmony Gold is to pay a 50 South African cents per share dividend after another robust set of results in which it whittled net debt down to R289m and increased production 8% to 553,862 ounces in the six months ended December 31.

Harmony Gold CEO Peter Steenkamp speaks to us about a strong first-half turnaround at the gold producer that’s left it debt free and ready for growth.

Earnings lifted by gains from gold and currency hedges.

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