Harmony Gold Mining delivers increase in gold production
Harmony Gold Mining Company Limited advised that gold production from its South African underground operations will be 12% to 14% higher quarter on quarter, due to an increase in both volumes and recovered grade. Gold production is 6% to 8% higher than the corresponding quarter in the previous financial year.
The planned waste stripping of cutbacks 5 and 6 at Hidden Valley is ahead of schedule and will be completed towards the end of November 2017. Despite the impact on Hidden Valley’s gold production, Harmony’s total gold production increased by 3% to 5% quarter on quarter and the corresponding quarter year on year.
Chief executive officer, Peter Steenkamp, commented: “Focus on safety, operational excellence at our South African operations and delivery at Hidden Valley in the second half of FY18 will ensure that we remain on track to meet our production guidance”.
Harmony’s production results for the first quarter FY18 ended 30 September 2017 will be released on Tuesday, 7 November 2017.