JSE-listed Harmony Gold is expecting to meet its annual guidance for the financial year (FY) 2023 with strong production performance and higher recovered grades.
Company chief executive Peter Steenkamp said they continue to deliver excellent underground-recovered grades from their South African operations, underpinned by a strong perfomance from Mponeng mine.
Production for the group will be towards the upper end of FY 2023 guidance of between 1 400 000 and 1 500 000 ounces while all-in-sustaining costs will remain below R900 000/kg, as projected.
He said underground recovered grades will be higher than the guided 5.6g/t for FY 2023.
“We have maintained a robust and flexible balance sheet as we continue into the second year of our higher capital expenditure programme in line with our growth ambitions,” said Steenkamp.
“This growth programme will improve the quality of our ounces by allocating necessary capital towards our higher-grade underground mines and higher-margin surface and international operations.”
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
