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On track to meet production guidance

Fri Feb 26 2021


Harmony Gold Mining Company announced last month that it is on target to meet yearly gold production guidance of between 1.26-million ounces and 1.3-million ounces after producing 23 183 kg in the six months ended December 31,2020.


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


For the six months to December 31, 2020, total production increased by 8% to 23 183 kg compared with the 21 411 kg, in the six months ended December 31, 2019.


Higher gold production was owing to the integration of the Mponeng gold mine and its 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 former AngloGold Ashanti assets, the Mponeng mine, and Mine Waste Solutions and related assets on October 1, 2020, these acquired assets have contributed 3 220 kg.


Excluding these acquired assets, Harmony has met its half-year production guidance. Harmony was expected to provide an update on its yearly guidance –including the projections for these assets – at its results presentation held earlier this week.


“In navigating the return-to-work challenges, top of mind was the health, safety and overall wellbeing of our employees,” says Harmony CEO Peter Steenkamp.


“I wish to commend our health and operational teams for the remarkable job done in ensuring a safe return to work.”


He adds that 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.


The all-in-sustaining costs, together with Harmony’s financial results, were being finalised ahead of the company’s results, held on February 23 on a virtual platform.