Go Back Email this Link to a friend


HARMONY GOLD MINING COMPANY LIMITED - Harmony solid results support margin and production growth

Release Date: 13/02/2018 07:06:00      Code(s): HAR       PDF(s):  
Harmony – solid results support margin and production growth

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


Harmony – solid results support margin and production growth


Half year achievements:

-       49% increase in headline earnings per share to 224 SA cents
        (55% increase to 17 US cents)
-       6% increase in South African gold production
-       4% increase in underground recovered grade to 5.26g/t
-       2% decrease in all-in sustaining costs to R500 248/kg
        (2% increase to US$1 161/oz)


Johannesburg. Tuesday, 13 February 2018. Harmony Gold Mining Company Limited (“Harmony” and/or
“the Company”) is pleased to announce that operational excellence has resulted in a solid production
performance in the six months ended 31 December 2017, with a 49% increase in headline earnings to
224 SA cents per share (17 US cents per share) compared to 150 SA cents per share (11 US cents per
share) for the December 2016 period.


“We are on track to achieve our group production guidance of 1.1Moz, after producing 560 000 ounces in
the six months ended 31 December 2017. Shareholder returns inform every decision we make. We will
therefore relentlessly pursue the production of safe, profitable ounces”, said Peter Steenkamp, chief
executive officer of Harmony.


Gold production for the group for the six months ended 31 December 2017 increased by 191kg (1%) to
17 418kg (560 003 oz), compared to 17 227kg (553 862oz) for the six months ended 31 December 2016.
Gold production from the South African operations increased by 6% for the six months ended 31 December
2017 to 16 756kg (538 719 oz), compared to 15 812kg (508 369 oz) for the six months ended 31 December
2016.
All-in sustaining costs for all operations decreased by 2% to R500 248/kg in the six months ended 31
December 2017 when compared to the previous comparable period of 31 December 2016. In US dollar
terms all-in sustaining costs increased by 2% to US$1 161/oz mainly due to the strengthening of the Rand
against the US dollar in the six months ended 31 December 2017.


The net profit for the six months ended 31 December 2017 was R897 million (US$65 million), compared to
R1 539 million (US$111 million) for the comparative period which included a gain on bargain purchase of
R848 million (US$61 million).


Ends.


For more details contact:


Lauren Fourie
Investor Relations Manager
+27 (0)71 607 1498 (mobile)


or


Marian van der Walt

Executive: Corporate and Investor Relations

+27 (0) 82 888 1242 (mobile)


13 February 2018


Sponsor:
J.P. Morgan Equities South Africa Proprietary Limited.

Date: 13/02/2018 07:06:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.

                                        
Email this JSE Sens Item to a Friend.

Send e-mail to
© 2019 SHARENET (PTY) Ltd, Cape Town, South Africa
Home     Terms & conditions    Privacy Policy
    Security Notice    Contact Details
Market Statistics are calculated by Sharenet and are therefore not the official JSE Market Statistics. The calculation/derivation may include underlying JSE data.