Harmony Gold production increases by 12%

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Harmony Gold Mining Company Limited, is pleased to advise that gold production increased by 12% for the second consecutive quarter, while cash operating costs decreased by 7% to R324 272/kg (11% to US$1 013/oz) and all-in sustaining costs decreased by 14% to R404 694/kg (19% from US$1 551/oz to US$1 264/oz) quarter on quarter.

The increase in production resulted in a significant increase in operating profit of 55% quarter on quarter, increasing from R671 million in the June 2013 quarter to R1 037 million in the September 2013 quarter.

The operating profit in US dollars increased by 46%, from US$71 million to US$104 million.

“Harmony has built new mines, enabling it to access new and higher grade mining areas. It takes time before you reap the results of a long term strategy – ours is finally paying off. We have illustrated in the past two quarters that we can deliver and have positioned ourselves to continue delivering”, said Graham Briggs, chief executive officer of Harmony.

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