Harmony Gold Mining remains strong across its portfolio
Johannesburg- Harmony’s underlying fundamentals remain strong, evident in the performance across its portfolio. Disciplined capital allocation allows it to convert higher gold prices into growth, while integrating copper scale from CSA and Eva Copper to widen margins and de-risk cash flows through the cycle.
“We remain focused on selective, sequenced and affordable growth, alongside responsible shareholder returns. Mining with Purpose ensures we convert today’s opportunity into enduring long- term value for all,” says Beyers Nel, CEO.
Performance across our portfolio a reasonable degree of certainty exists that basic earnings for H1FY26 will be higher than for H1FY25 primarily due to an increase in revenue as a result of significant rise in the average gold price received which increased by 36% to R1 909 849/kg in H1FY26 from R1 405 020/kg in H1FY25. When measured in US dollar, the average gold price received increased by 40% to $3 421/oz in H1FY26 from $2 437/oz in H1FY25.
The increase in earnings was partially offset by an increase in production costs due to above-inflation increases electricity costs and higher labour costs in line with the 5-year wage agreement).
