Harmony Gold has exceeded its upward revised production guidance of 1 550 000 ounces (48 210 kg) for the year ended June 30.
The gold miner expects underground recovered grades to be higher than the guided 6 g/t for the fiscal year (FY) 2024.
It said group production for the reporting period jumped 6% to 48 578kg (1 561 815 oz) from 45 651 kg (1 467 715 oz) a year earlier.
This, it said, was mainly due to higher recovered grades at Mponeng, Hidden Valley and Mine Waste Solutions.
Recovered grades at the South African underground operations jumped 6% to 6.11 g/t from 5.78 g/t in the previous reporting period, driven by high-grade Mponeng and Moab Khotsong operations. Recovered grades at Hidden Valley also rose 33% to 1.52 g/t of the prior year’s 1.14 g/t, while Mine Waste Solutions registered a 36% increase in recovered grade of 0.166 g/t in the financial year from 0.122 g/t.
"Harmony delivered an exceptional combined performance across all our operations in FY24,” said company chief executive Peter Steenkamp.
“This achievement was a result of clear strategic intent and successful execution, enabling us to deliver ahead of plan and capitalise on higher gold prices. Our aim is to be consistent and excel at what we do and I believe we achieved this goal.”
Mathew Nyaungwa, Editor in Chief, Rough&Polished
