Harmony gold’s gold production for the 30 June 2017 financial year is estimated to be 1.088 million oz, which exceeds production guidance of 1.05 million oz. Underground recovered grade increased for a fifth consecutive year to 5.07 g/t.
“We will continue to focus on increasing cash margins through safe, predictable and profitable production” says Peter Steenkamp, CEO of Harmony.
Harmony will announce its operating and financial results for the year ended 30 June, 2017 on Thursday 17 August 2017, during a live presentation at the Hilton Hotel, Sandton, at 09h00 South African time.
In October last year Harmony Gold completed the acquisition of Hidden Valley mine in Papua New Guinea.
The mine is situated in the highly prospective area of the Morobe province in Papua New Guinea, some 210 km northwest of Port Moresby.
The major gold and silver deposits of the Morobe goldfield and Hidden Valley are hosted in the Wau Graben.
The Hidden Valley-Kaveroi and Hamata pits, located approximately 6 km apart, are in operation.
Ore mined is also treated at the Hidden Valley processing plant.
Feature image credit: Harmony Gold