Harmony Gold reports 6% increase in South African gold production

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Harmony Gold Mining Company Limited 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,” says Peter Steenkamp, Harmony Chief Executive Officer.

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 ZAR500 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 ($65 million), compared to ZAR1 539 million ($111 million) for the comparative period which included a gain on bargain purchase of ZAR848 million (US$61 million).

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Bontle Moeng is the Founder and Managing Director of BizNis Africa. Moeng has spent 15 years working in the digital and online media industry across Africa. She applied her trade at True Love magazine prior to discovering her passion for Investment news in key sectors across Africa. Moeng previously worked for ITWeb, Starfish Mobile Technologies, ITNewsAfrica, AVATAR Agency, eNitiate, Global Interface Consulting and Havas Johannesburg. Her primary focus is to provide solid and valuable content on investment opportunities for the ICT, Energy and Mining sectors across Africa. In addition, the online news publication assists global companies to expand their presence in Africa. Email: news@biznisafrica.co.za

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