Harmony boosted by production from newly acquired assets

JOHANNESBURG – Harmony Gold Mining Company has announced that it is on target to meet annual gold production guidance of between 1.26Moz and 1.3Moz after producing 23 183kg (745 347oz) in the six months ended 31 December 2020.

Total production for the quarter ended 31 December 2020 increased by 38% to 13 425kg (431 622oz) compared to 9 758kg (313 725oz) in the September 2020 quarter, with the average recovered underground grade increasing by 9% from 5.31g/t to 5.80g/t quarter on quarter.

For the six months to 31 December 2020, total production increased by 8% to 23 183kg compared to the 21 411 kilograms in the six months ended 31 December 2019. Underground recovered grade increased by 5% from 5.29g/t to 5.58g/t.

Higher gold production was due to the integration of the Mponeng and Mine Waste Solutions assets, the effective measures adopted in preventing and mitigating the impact of COVID-19 and disciplined mining.

Since assuming full ownership of Mponeng mine, Mine Waste Solutions and related assets on 1 October 2020, these acquired assets have contributed 3 220kg (103 525oz). Excluding these acquired assets, Harmony has met its half year production guidance. Harmony will provide an update on its annual guidance – which will include the projections of these assets – at its results presentation on the 23rd of February 2021.

“In navigating the return-to-work challenges, top of mind was the health, safety and overall wellbeing of our employees. I wish to commend our health and operational teams for the remarkable job done in ensuring a safe return to work. The integration of Mponeng and Mine Waste Solutions went according to plan and contributed both to the quality of the ounces produced and overall production,” said chief executive officer Peter Steenkamp.

The all-in-sustaining costs, together with Harmony’s financial results are being finalised and will be shared when the Company reports its results for the half-year on Tuesday, 23 February 2021 on a virtual platform.

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