What is gold?
Gold is a precious metal that has been valued by people for thousands of years. It is rare, naturally occurring, and known for its bright yellow colour, resistance to corrosion and ability to be shaped into almost anything. Because gold does not rust or tarnish, it remains one of the world’s most trusted stores of value.
In Gold We Trust (IGWT) Report
The IGWT Report covers gold’s current role in portfolios, economic factors to watch, useful historical context and strategic positioning ideas.
Harmony is a proud partner of the 2025 IGWT Report.
Where gold comes from
Gold forms deep underground when heat, pressure and mineral-rich fluids move through rock over millions of years. It is most often found in underground veins, hard rock deposits and ancient riverbeds.
We mine gold mainly in South Africa — in the Free State, Gauteng and North West — and at the Hidden Valley mine in Papua New Guinea.
How gold is produced
1.
Exploration – Geologists search for gold deposits using mapping and drilling.
2.
Mining – At Harmony, most gold is mined underground using specialised mining equipment
3.
Processing – Ore is crushed and ground so gold can be extracted
4.
Refining – Gold is purified into bars, coins or industrial products
5.
Sale and use – Gold is sold to global markets for jewellery, technology and investment
Why gold is important
The importance of gold stems from a combination of its inherent physical characteristics, its historical role in human society, and its ongoing utility as a reliable financial asset and a critical industrial material.
Technology and electronics
Gold is an excellent conductor of electricity and does not corrode — making it vital in smartphones, laptops and tablets, medical devices, satellites.
Jewellery
Around half of all gold produced globally is used to make jewellery. It is prized for its beauty, durability and cultural significance.
Investment and finance
Gold is a safe-haven asset used by investors, governments and central banks. It holds value even during uncertain times.
Renewable energy
Gold is used in solar panels, high-performance wiring and new clean-energy technologies.
Harmony’s commitment to responsible gold mining
Harmony is one of the world’s leading gold producers committed to:
Protecting people
- rigorous safety programmes
- world-class training
- strong partnerships with unions and employees
Protecting the environment
- major decarbonisation investments and partnerships for renewable energy projects (Bolobedu Solar, Khangela Emoyeni Wind, Overberg Wind)
- large-scale rehabilitation and land restoration
- responsible water, waste and tailings management
Sharing value with communities
- creating jobs and procurement opportunities
- investing in schools, roads, clinics and training
- partnering with communities across South Africa and Papua New Guinea
