JSE-listed gold major Harmony Gold Mining Company has revealed that its total gold production for its upcoming quarter in September will be 8% to 10% higher than the previous quarter.
This can be attributed largely to Harmony’s gold production from its South African operations, which increased by an “admirable” 16%, due to an increase in both tonnes and grade.
Unfortunately, overall production was impacted due to a fatality in August 2015 at the Hidden Valley operation in Papua New Guinea.
Harmony’s CEO, Graham Briggs, comments: “The September quarter demonstrates that if we focus on what we can control, we are able to benefit from the current higher R/kg gold price.”
Harmony’s results for the first quarter FY16 ended 30 September 2015 will be released by webcast and conference call on Thursday, 5 November 2015.
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