The miner keeps its full-year production target intact but warns of rising costs on higher electricity tariffs
Harmony Gold showed a nearly one-third jump in gold output in the first nine months of its 2019 financial year as the full impact of its new Hidden Valley and Moab Khotsong mines was realised.
Moab contributed 6,156kg in the nine months compared to 764kg in the same period a year earlier. Hidden Valley shot up to 4,426kg from 1,519kg . The increase in costs was because of electricity price increases implemented by Eskom from the start of April. Production profit from the underground SA mines fell to R3.05bn for the nine months compared to R3.08bn before. Production profit from the four surface operations fell to R319m from R367m.
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