HARMONY GOLD MINING COMPANY LIMITED - Excellent recovered grades at Harmony's South African underground mines boost second-quarter production

Excellent recovered grades at Harmony's South African underground mines boost second-quarter production

Harmony Gold Mining Company Limited
Registration number 1950/038232/06
Incorporated in the Republic of South Africa
ISIN: ZAE000015228
JSE share code: HAR
NYSE share code: HMY
(“Harmony” and/or “the Company”)


EXCELLENT RECOVERED GRADES AT HARMONY’S SOUTH AFRICAN UNDERGROUND MINES BOOST
SECOND-QUARTER PRODUCTION


Harmony remains on track to meet full-year production guidance.


Johannesburg, 1 February 2023. Harmony is pleased to announce that total gold
production for the six-month period ended 31 December 2022 of financial year
2023 (“H1FY23”) was between 720 000 ounces (22 394kg) and 745 000 ounces
(23 171kg).


In line with guidance, all-in-sustaining costs (“AISC”) for H1FY23 was below
R900 000/kg.


Despite the ongoing electricity shortages and supply chain disruptions, total
gold production increased quarter-on-quarter. This production increase was
mainly as a result of improved underground recovered grades in quarter 2 of
financial year 2023 (“Q2FY23”), which were higher than the 5.45 to 5.60g/t
guided earlier this year.


Harmony also received all necessary permits and approvals for the Kareerand
tailings storage facility expansion at Mine Waste Solutions towards the end of
Q2FY23.


Following the conclusion of the Eva Copper transaction in December 2022,
feasibility studies are currently underway. This low-cost near-term copper-gold
project in Northern Queensland, Australia is fully permitted and the results of
the studies are expected within 12 months.


Guidance for the financial year 2023 remains unchanged at 1 400 000 to 1 500 000
ounces of gold and gold equivalents, at an AISC of below R900 000/kg.
Underground recovered grade guidance also remains unchanged between 5.45 to
5.60g/t.
Harmony will be presenting at the Investing in African Mining Indaba conference
in Cape Town, which takes place from 6 to 9 February 2023. This presentation
will be available on the Harmony website on Monday, 6 February 2023.


The Company will publish its interim operating and financial results for the
2023 financial year on Wednesday, 1 March 2023 at 10am, South African time.
Please refer to the Harmony website for more details: www.harmony.co.za.


The information contained in this guidance release has not been reviewed or
reported on by the Company’s external auditors.



For more details contact:


Jared Coetzer
Head of Investor Relations
+27 (0) 82 746 4120 (mobile)



1 February 2023


Sponsor:

J.P. Morgan Equities South Africa Proprietary Limited.

Date: 01-02-2023 07:05:00
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