Report of Foreign Issuer (6-k)
February 02 2017 - 6:15AM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES AND
EXCHANGE COMMISSION
Washington, D.C.
20549
Form 6-K
REPORT OF FOREIGN PRIVATE
ISSUER PURSUANT TO
RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES
EXCHANGE ACT OF
1934
For February 2,
2017
Harmony Gold Mining Company
Limited
Randfontein Office
Park
Corner Main Reef Road and
Ward Avenue
Randfontein,
1759
South Africa
(Address of principal executive
offices)
*-
(Indicate by check mark
whether the registrant files or will file annual reports under
cover of Form 20- F or Form 40-F.)
(Indicate by check mark
whether the registrant by furnishing the information contained in
this form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange
Act of 1934.)
Harmony Gold
Mining Company Limited
Registration
number 1950/038232/06
Incorporated in
the Republic of South Africa
ISIN:
ZAE000015228
JSE share code:
HAR
(“Harmony”
or “the company”)
HARMONY DELIVERS – RETURNS CASH TO SHAREHOLDERS
●
Declares interim dividend of
50 SA cents (approximately 4 US cents)
●
Headline earnings of 150 SA
cents (11 US cents)
●
8% increase in gold
production
●
3% increase in grade –
upward trend continues
●
R627 million (US$45 million)
cash inflows from hedging activity
●
Repaid most of its
debt
●
Only a 4% increase in all-in
sustaining costs at R510 506/kg (14% to
US$1 136/oz due
to exchange rate)
Johannesburg: Thursday, 2 February 2017.
Harmony Gold Mining Company Limited (“Harmony” and/or
“the Company”) today announced its results for the six
months ended 31 December 2016.
“We
achieved all we set out to in the six months from 1 July 2016 to 31
December 2016. We delivered on our strategy to mine safe,
profitable ounces and increase our margins. Our cash flow continues
to be strong, which allowed us to declare an interim dividend
– the second dividend in 12 months. Harmony has a sustainable
investment case based on prudent financial planning and on capital
allocation that is aimed at enhancing the value of our
portfolio”, Peter Steenkamp, chief executive officer of
Harmony said.
Revenue,
including the gold hedge, increased by 3% to R9.868 billion (13% to
US$706 million) in the six months ended 31 December 2016. Total
production profit decreased to R2.474 billion (US$177 million),
from R3.092 billion (US$201 million) in H2FY16 after accounting for
an increase in cash operating costs.
Positive cash
flow generation from our operations in the past 12 months enabled
the Company to pay a final dividend of R218 million (US$16 million)
in September 2016 for FY16, and reduce net debt from R1.1 billion
(US$74 million) at the end of 30 June 2016 to R289 million (US$21
million) at the end of
31 December
2016.
All-in sustaining
costs for all operations increased by only 4% to R510 506/kg in
H1FY17, compared to R492 898/kg in H2FY16 (increased by 14% to US$1
136/oz compared to US$996/oz in H2FY16, largely due to the
strengthening in the Rand).
Headline
earnings amounted to 150 SA cents per share (11 US cents per share)
compared to headline earnings of 324 SA cents per share (21 US
cents per share) for the six months ended 30 June 2016. This is
more than a 100% higher than the headline loss of 103 cents (8 US
cents) reported in the previous comparable period in
2015.
Peter
concluded that “our operations – both in South Africa
and Papua New Guinea – are maintaining their momentum and we
believe that our annual guidance of approximately 1 050 000oz of
gold at a cash cost of about $1 100/oz (~R495 000/kg at an exchange
rate of R14.00) is achievable. We will continue our strong
operational performance and create further value
uplift.”
For more details
contact:
Marian van der
Walt
Executive:
Corporate and Investor Relations
+27 (0) 82 888
1242 (mobile)
2 February
2017
Sponsor:
J.P. Morgan
Equities South Africa Proprietary Limited.
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly
caused
this report to be signed on
its behalf by the undersigned, thereunto duly
authorized.
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Harmony Gold Mining Company
Limited
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Date:
February 2, 2017
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By:
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/s/
Frank Abbott
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Name
Frank
Abbott
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Title
Financial
Director
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