OPERATING RESULTS SUMMARY
|
|
|
|
|
|
|
|
|
|
Quarter
September
2019
|
Quarter
June
2019
|
Q-on-Q
Variance
%
|
Quarter
September
2018
|
Comparative Q-on-Q*
Variance*
%
|
Gold produced
|
kg
|
11 231
|
11 061
|
2
|
11 773
|
(5)
|
|
oz
|
361 085
|
355 620
|
2
|
378 510
|
(5)
|
Underground grade
|
g/t
|
5.26
|
5.56
|
(5)
|
5.68
|
(7)
|
Gold price received
|
R/kg
|
683 572
|
607 723
|
12
|
570 545
|
20
|
|
US$/oz
|
1 449
|
1 315
|
10
|
1 263
|
15
|
Cash operating costs
|
R/kg
|
484 604
|
443 590
|
(9)
|
428 826
|
(13)
|
|
US$/oz
|
1 027
|
960
|
(7)
|
949
|
(8)
|
All-in sustaining costs
|
R/kg
|
589 597
|
570 149
|
(3)
|
526 747
|
(12)
|
|
US$/oz
|
1 250
|
1 234
|
(1)
|
1 166
|
(7)
|
Production profit
|
R million
|
2 379
|
1 775
|
34
|
1 678
|
42
|
|
US$ million
|
162
|
123
|
32
|
119
|
36
|
Exchange rate
|
R/US$
|
14.68
|
14.37
|
2
|
14.05
|
4
|
* September 2019 quarter and September 2018 quarter comparison
Quarter-on-quarter operating tables have been included on pages 3 to 4 (R/metric) and pages 5 to 6 (US$/imperial).
The operational update has not been reviewed by the company’s external auditors. Detailed financial and operational results are provided on a six monthly basis at the end of December and June.
WAFI-GOLPU
Permitting delays have necessitated the Wafi-Golpu Joint Venture (“WGJV”) revising the work programme previously planned to start this financial year. The legal proceedings giving rise to these delays remain unresolved, and an ongoing review by the PNG Government of policies governing the mining industry may further delay permitting timelines.
It is difficult to estimate the duration of the delay and the market will be advised when discussions resume. The Government continues to signal its support for the project.
Harmony continues to pursue safe profitable production and increased margins, as well as value-accretive opportunities and organic growth, to replenish mined ounces.
HEDGING UPDATE
During the quarter, the volatility and weakening of the Rand exchange rate against the US dollar, combined with the increase in the gold price, presented an opportunity to top up and maintain our hedging programme.
The table below shows the open position at 30 September 2019:
Harmony Gold Hedge position as at 30 September 2019
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FY 2020
|
FY2021
|
FY2022
|
TOTAL
|
|
|
Q2
|
Q3
|
Q4
|
Q1
|
Q2
|
Q3
|
Q4
|
Q1
|
Rand Gold
|
|
|
|
|
|
|
|
|
|
|
Forward Contracts
|
koz
|
95
|
95
|
96
|
77
|
75
|
74
|
61
|
25
|
598
|
|
R’000/kg
|
642
|
648
|
661
|
672
|
679
|
690
|
728
|
787
|
675
|
Dollar Gold
|
|
|
|
|
|
|
|
|
|
|
Forward Contracts
|
koz
|
12
|
12
|
12
|
12
|
9
|
7
|
4
|
2
|
70
|
|
US$/oz
|
1 363
|
1 357
|
1 370
|
1 413
|
1 417
|
1 456
|
1 477
|
1 532
|
1 400
|
Total Gold
|
koz
|
107
|
107
|
108
|
89
|
84
|
81
|
65
|
27
|
668
|
Currency Hedges
|
|
|
|
|
|
|
|
|
|
|
Rand Dollar
|
|
|
|
|
|
|
|
|
|
|
Zero Cost Collars
|
$m
|
79
|
76
|
74
|
64
|
59
|
52
|
29
|
5
|
438
|
|
Floor R/$
|
14.63
|
14.82
|
14.99
|
15.30
|
15.32
|
15.46
|
15.62
|
15.91
|
15.09
|
|
Cap R/$
|
15.44
|
15.66
|
15.85
|
16.22
|
16.38
|
16.54
|
16.76
|
17.31
|
16.03
|
Forward Contracts
|
$m
|
45
|
64
|
60
|
61
|
35
|
24
|
6
|
0
|
295
|
|
R/$
|
15.13
|
15.28
|
15.44
|
15.89
|
15.82
|
15.96
|
16.23
|
0
|
15.49
|
Total Rand Dollar
|
$m
|
124
|
140
|
134
|
125
|
94
|
76
|
35
|
5
|
733
|
Dollar Silver
|
|
|
|
|
|
|
|
|
|
|
Zero Cost Collars
|
koz
|
300
|
300
|
300
|
240
|
220
|
210
|
180
|
140
|
1 890
|
|
Floor $/oz
|
17.06
|
17.06
|
17.06
|
17.38
|
17.93
|
18.07
|
18.32
|
18.43
|
17.54
|
|
Cap $/oz
|
18.43
|
18.43
|
18.43
|
18.79
|
19.38
|
19.53
|
19.82
|
19.95
|
18.95
|
Approved hedging limits: 25% currency (R/US$) over a 24-month period;23% gold over a 24-month period; 50% silver over a 24-month period.
FY20 GUIDANCE UPDATE
Harmony’s plans to produce approximately 1.46Moz in FY2020 remain unchanged.
Cost guidance remains at an all-in sustaining unit cost of R579 000/kg.
Operating results - Quarter on Quarter (Rand/metric)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SOUTH AFRICAN OPERATIONS
|
Papua New Guinea Hidden
Valley
|
Total
Harmony
|
|
|
|
Underground production
|
Surface production
|
Total
South
Africa
|
|
|
Three
months ended
|
Tshepong
operations
|
Moab Khotsong
|
Bambanani
|
Joel
|
Doornkop
|
Target 1
|
Kusasalethu
|
Masimong
|
Unisel
|
Total Under-ground
|
Phoenix
|
Central plant reclamation
|
Dumps
|
Kalgold
|
Total
Surface
|
Ore milled
|
- t’000
|
Sep-19
|
469
|
249
|
64
|
129
|
192
|
150
|
171
|
167
|
69
|
1 660
|
1 637
|
1 008
|
978
|
414
|
4 037
|
5 697
|
974
|
6 671
|
Jun-19
|
401
|
207
|
54
|
110
|
152
|
142
|
196
|
144
|
67
|
1 473
|
1 521
|
988
|
1 058
|
399
|
3 966
|
5 439
|
1 038
|
6 477
|
Yield
|
- g/tonne
|
Sep-19
|
4.97
|
9.28
|
9.86
|
3.23
|
4.06
|
3.56
|
4.98
|
3.77
|
3.62
|
5.26
|
0.134
|
0.151
|
0.338
|
0.71
|
0.25
|
1.71
|
1.54
|
1.68
|
Jun-19
|
4.94
|
8.56
|
11.37
|
4.11
|
3.95
|
3.59
|
6.94
|
4.27
|
4.27
|
5.56
|
0.131
|
0.152
|
0.358
|
0.86
|
0.27
|
1.70
|
1.73
|
1.71
|
Gold produced
|
- kg
|
Sep-19
|
2 333
|
2 311
|
631
|
417
|
779
|
534
|
851
|
630
|
250
|
8 736
|
219
|
152
|
331
|
296
|
998
|
9 734
|
1 497
|
11 231
|
Jun-19
|
1 982
|
1 772
|
614
|
452
|
600
|
510
|
1 361
|
615
|
286
|
8 192
|
199
|
150
|
379
|
345
|
1 073
|
9 265
|
1 796
|
11 061
|
Gold sold
|
- kg
|
Sep-19
|
2 398
|
2 435
|
649
|
429
|
823
|
560
|
933
|
648
|
257
|
9 132
|
227
|
154
|
349
|
296
|
1 026
|
10 158
|
1 528
|
11 686
|
Jun-19
|
2 012
|
1 673
|
623
|
469
|
591
|
514
|
1 341
|
624
|
290
|
8 137
|
198
|
150
|
370
|
348
|
1 066
|
9 203
|
1 762
|
10 965
|
Gold price received
|
- R/kg
|
Sep-19
|
685 373
|
691 927
|
686 963
|
683 343
|
693 610
|
647 448
|
682 840
|
659 838
|
656 339
|
682 667
|
665 291
|
691 455
|
686 599
|
689 524
|
683 457
|
682 747
|
689 058
|
683 572
|
Jun-19
|
607 648
|
604 077
|
607 610
|
608 258
|
610 597
|
604 368
|
606 926
|
609 325
|
606 662
|
606 927
|
602 955
|
606 427
|
607 495
|
609 371
|
607 114
|
606 949
|
611 764
|
607 723
|
Gold revenue
|
(R’000)
|
Sep-19
|
1 643 524
|
1 684 842
|
445 839
|
293 154
|
570 841
|
362 571
|
637 090
|
427 575
|
168 679
|
6 234 115
|
151 021
|
106 484
|
239 623
|
204 099
|
701 227
|
6 935 342
|
1 052 880
|
7 988 222
|
Jun-19
|
1 222 587
|
1 010 621
|
378 541
|
285 273
|
360 863
|
310 645
|
813 888
|
380 219
|
175 932
|
4 938 569
|
119 385
|
90 964
|
224 773
|
212 061
|
647 183
|
5 585 752
|
1 077 928
|
6 663 680
|
Cash operating cost
(net of by-product credits)
|
(R’000)
|
Sep-19
|
1 152 940
|
906 800
|
281 024
|
278 038
|
431 551
|
386 523
|
687 942
|
342 972
|
161 941
|
4 629 731
|
96 329
|
57 793
|
176 602
|
177 036
|
507 760
|
5 137 491
|
305 102
|
5 442 593
|
Jun-19
|
1 016 090
|
797 715
|
250 599
|
252 017
|
388 784
|
356 421
|
612 656
|
298 950
|
140 679
|
4 113 911
|
90 190
|
48 708
|
173 901
|
185 855
|
498 654
|
4 612 565
|
293 983
|
4 906 548
|
Inventory movement
|
(R’000)
|
Sep-19
|
27 617
|
55 231
|
10 517
|
4 733
|
26 897
|
15 126
|
35 676
|
10 573
|
5 816
|
192 186
|
4 051
|
11
|
5 538
|
(2 225)
|
7 375
|
199 561
|
(33 232)
|
166 329
|
Jun-19
|
13 944
|
(39 264)
|
29 669
|
(10 685)
|
(19 220)
|
222
|
(7 104)
|
8 887
|
4 678
|
(18 873)
|
189
|
141
|
(2 108)
|
2 605
|
827
|
(18 046)
|
356
|
(17 690)
|
Operating costs
|
(R’000)
|
Sep-19
|
1 180 557
|
962 031
|
291 541
|
282 771
|
458 448
|
401 649
|
723 618
|
353 545
|
167 757
|
4 821 917
|
100 380
|
57 804
|
182 140
|
174 811
|
515 135
|
5 337 052
|
271 870
|
5 608 922
|
Jun-19
|
1 030 034
|
758 451
|
280 268
|
241 332
|
369 564
|
356 643
|
605 552
|
307 837
|
145 357
|
4 095 038
|
90 379
|
48 849
|
171 793
|
188 460
|
499 481
|
4 594 519
|
294 339
|
4 888 858
|
Production profit
|
(R’000)
|
Sep-19
|
462 967
|
722 811
|
154 298
|
10 383
|
112 393
|
(39 078)
|
(86 528)
|
74 030
|
922
|
1 412 198
|
50 641
|
48 680
|
57 483
|
29 288
|
186 092
|
1 598 290
|
781 010
|
2 379 300
|
Jun-19
|
192 553
|
252 170
|
98 273
|
43 941
|
(8 701)
|
(45 998)
|
208 336
|
72 382
|
30 575
|
843 531
|
29 006
|
42 115
|
52 980
|
23 601
|
147 702
|
991 233
|
783 589
|
1 774 822
|
Capital expenditure
|
(R’000)
|
Sep-19
|
267 564
|
152 598
|
17 455
|
43 865
|
87 091
|
78 477
|
52 542
|
7 593
|
1 884
|
709 069
|
0
|
1 647
|
0
|
23 007
|
24 654
|
733 723
|
498 293
|
1 232 016
|
Jun-19
|
299 969
|
140 258
|
14 176
|
52 867
|
91 964
|
69 738
|
77 161
|
29 300
|
15 200
|
790 633
|
2 262
|
2 420
|
1 247
|
19 788
|
25 717
|
816 350
|
478 292
|
1 294 642
|
Cash operating costs
|
- R/kg
|
Sep-19
|
494 188
|
392 384
|
445 363
|
666 758
|
553 981
|
723 826
|
808 392
|
544 400
|
647 764
|
529 960
|
439 858
|
380 217
|
533 541
|
598 095
|
508 778
|
527 788
|
203 809
|
484 604
|
Jun-19
|
512 659
|
450 178
|
408 142
|
557 560
|
647 973
|
698 865
|
450 151
|
486 098
|
491 885
|
502 186
|
453 216
|
324 720
|
458 842
|
538 710
|
464 729
|
497 848
|
163 688
|
443 590
|
Cash operating costs
|
- R/tonne
|
Sep-19
|
2 458
|
3 642
|
4 391
|
2 155
|
2 248
|
2 577
|
4 023
|
2 054
|
2 347
|
2 789
|
59
|
57
|
181
|
428
|
126
|
902
|
313
|
816
|
Jun-19
|
2 534
|
3 854
|
4 641
|
2 291
|
2 558
|
2 510
|
3 126
|
2 076
|
2 100
|
2 793
|
59
|
49
|
164
|
466
|
126
|
848
|
283
|
758
|
Cash operating cost and Capital
|
- R/kg
|
Sep-19
|
608 874
|
458 415
|
473 025
|
771 950
|
665 779
|
870 787
|
870 134
|
556 452
|
655 300
|
611 126
|
439 858
|
391 053
|
533 541
|
675 821
|
533 481
|
603 166
|
536 670
|
594 302
|
Jun-19
|
664 006
|
529 330
|
431 230
|
674 522
|
801 247
|
835 606
|
506 846
|
533 740
|
545 031
|
598 699
|
464 583
|
340 853
|
462 132
|
596 067
|
488 696
|
585 960
|
429 997
|
560 636
|
All-in sustaining cost
|
- R/kg
|
Sep-19
|
605 270
|
455 307
|
489 465
|
754 319
|
649 472
|
841 867
|
851 301
|
572 216
|
674 455
|
607 285
|
442 203
|
375 351
|
521 891
|
682 721
|
528 664
|
599 109
|
526 372
|
589 597
|
Jun-19
|
657 036
|
548 778
|
490 313
|
607 879
|
757 322
|
828 122
|
526 006
|
564 142
|
577 496
|
605 718
|
467 884
|
341 793
|
467 676
|
628 002
|
502 340
|
591 778
|
457 207
|
570 149
|
Operating free cash flow margin¹
|
%
|
Sep-19
|
14
|
37
|
33
|
(10)
|
9
|
(28)
|
(16)
|
18
|
3
|
14
|
36
|
44
|
26
|
2
|
24
|
15
|
19
|
16
|
Jun-19
|
(8)
|
7
|
30
|
(7)
|
(33)
|
(37)
|
15
|
14
|
11
|
1
|
23
|
44
|
22
|
4
|
19
|
3
|
30
|
7
|
¹ Excludes run of mine costs for Kalgold (Sep-19:R0.492m, Jun-19:R2.726m) and Hidden Valley (Sep-19:-R49.671m, Jun-19:R14.709m).
Operating results - Quarter on Quarter (US$/imperial)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SOUTH AFRICAN OPERATIONS
|
Papua New Guinea Hidden
Valley
|
Total
Harmony
|
|
|
|
Underground production
|
Surface production
|
|
|
|
Three
months ended
|
Tshepong
operations
|
Moab Khotsong
|
Bambanani
|
Joel
|
Doornkop
|
Target 1
|
Kusasalethu
|
Masimong
|
Unisel
|
Total Under-ground
|
Phoenix
|
Central plant reclamation
|
Dumps
|
Kalgold
|
Total
Surface
|
Total
South
Africa
|
|
|
Ore milled
|
- t’000
|
Sep-19
|
517
|
275
|
71
|
142
|
212
|
165
|
189
|
184
|
76
|
1 831
|
1 805
|
1 112
|
1 078
|
457
|
4 452
|
6 283
|
1 074
|
7 357
|
Jun-19
|
442
|
228
|
60
|
121
|
168
|
157
|
216
|
159
|
74
|
1 625
|
1 677
|
1 089
|
1 167
|
440
|
4 373
|
5 998
|
1 145
|
7 143
|
Yield
|
- oz/ton
|
Sep-19
|
0.145
|
0.270
|
0.286
|
0.094
|
0.118
|
0.104
|
0.145
|
0.110
|
0.106
|
0.153
|
0.004
|
0.004
|
0.010
|
0.021
|
0.007
|
0.050
|
0.045
|
0.049
|
Jun-19
|
0.144
|
0.250
|
0.329
|
0.120
|
0.115
|
0.104
|
0.203
|
0.124
|
0.124
|
0.162
|
0.004
|
0.004
|
0.010
|
0.025
|
0.008
|
0.050
|
0.050
|
0.050
|
Gold produced
|
- oz
|
Sep-19
|
75 008
|
74 300
|
20 287
|
13 407
|
25 045
|
17 168
|
27 360
|
20 255
|
8 038
|
280 868
|
7 041
|
4 887
|
10 642
|
9 517
|
32 087
|
312 955
|
48 130
|
361 085
|
Jun-19
|
63 723
|
56 971
|
19 741
|
14 532
|
19 290
|
16 397
|
43 757
|
19 773
|
9 195
|
263 379
|
6 398
|
4 823
|
12 185
|
11 092
|
34 498
|
297 877
|
57 743
|
355 620
|
Gold sold
|
- oz
|
Sep-19
|
77 097
|
78 287
|
20 866
|
13 793
|
26 460
|
18 004
|
29 997
|
20 834
|
8 263
|
293 601
|
7 298
|
4 951
|
11 221
|
9 517
|
32 987
|
326 588
|
49 126
|
375 714
|
Jun-19
|
64 687
|
53 788
|
20 030
|
15 079
|
19 001
|
16 525
|
43 114
|
20 062
|
9 324
|
261 610
|
6 366
|
4 823
|
11 896
|
11 188
|
34 273
|
295 883
|
56 650
|
352 533
|
Gold price received
|
- $/oz
|
Sep-19
|
1 453
|
1 466
|
1 456
|
1 448
|
1 470
|
1 372
|
1 447
|
1 398
|
1 391
|
1 447
|
1 410
|
1 466
|
1 455
|
1 461
|
1 449
|
1 447
|
1 460
|
1 449
|
Jun-19
|
1 315
|
1 307
|
1 315
|
1 316
|
1 321
|
1 308
|
1 313
|
1 319
|
1 313
|
1 313
|
1 305
|
1 312
|
1 315
|
1 319
|
1 314
|
1 313
|
1 324
|
1 315
|
Gold revenue
|
($’000)
|
Sep-19
|
111 989
|
114 805
|
30 379
|
19 975
|
38 897
|
24 706
|
43 411
|
29 135
|
11 494
|
424 791
|
10 291
|
7 256
|
16 328
|
13 907
|
47 782
|
472 573
|
71 743
|
544 316
|
Jun-19
|
85 063
|
70 315
|
26 338
|
19 848
|
25 108
|
21 614
|
56 627
|
26 454
|
12 241
|
343 608
|
8 306
|
6 329
|
15 639
|
14 754
|
45 028
|
388 636
|
74 998
|
463 634
|
Cash operating cost
(net of by-product credits)
|
($’000)
|
Sep-19
|
78 561
|
61 790
|
19 149
|
18 945
|
29 406
|
26 338
|
46 876
|
23 370
|
11 035
|
315 470
|
6 564
|
3 938
|
12 034
|
12 064
|
34 600
|
350 070
|
20 790
|
370 860
|
Jun-19
|
70 695
|
55 503
|
17 435
|
17 535
|
27 050
|
24 798
|
42 627
|
20 799
|
9 788
|
286 230
|
6 275
|
3 389
|
12 100
|
12 931
|
34 695
|
320 925
|
20 454
|
341 379
|
Inventory movement
|
($’000)
|
Sep-19
|
1 882
|
3 763
|
717
|
323
|
1 833
|
1 031
|
2 431
|
720
|
396
|
13 096
|
276
|
1
|
377
|
(152)
|
502
|
13 598
|
(2 264)
|
11 334
|
Jun-19
|
970
|
(2 732)
|
2 064
|
(743)
|
(1 337)
|
15
|
(494)
|
618
|
325
|
(1 314)
|
13
|
10
|
(147)
|
181
|
57
|
(1 257)
|
25
|
(1 232)
|
Operating costs
|
($’000)
|
Sep-19
|
80 443
|
65 553
|
19 866
|
19 268
|
31 239
|
27 369
|
49 307
|
24 090
|
11 431
|
328 566
|
6 840
|
3 939
|
12 411
|
11 912
|
35 102
|
363 668
|
18 526
|
382 194
|
Jun-19
|
71 665
|
52 771
|
19 499
|
16 792
|
25 713
|
24 813
|
42 133
|
21 417
|
10 113
|
284 916
|
6 288
|
3 399
|
11 953
|
13 112
|
34 752
|
319 668
|
20 479
|
340 147
|
Production profit
|
($’000)
|
Sep-19
|
31 546
|
49 252
|
10 513
|
707
|
7 658
|
(2 663)
|
(5 896)
|
5 045
|
63
|
96 225
|
3 451
|
3 317
|
3 917
|
1 995
|
12 680
|
108 905
|
53 217
|
162 122
|
Jun-19
|
13 398
|
17 544
|
6 839
|
3 056
|
(605)
|
(3 199)
|
14 494
|
5 037
|
2 128
|
58 692
|
2 018
|
2 930
|
3 686
|
1 642
|
10 276
|
68 968
|
54 519
|
123 487
|
Capital expenditure
|
($’000)
|
Sep-19
|
18 231
|
10 396
|
1 189
|
2 988
|
5 934
|
5 347
|
3 580
|
517
|
128
|
48 310
|
0
|
112
|
0
|
1 568
|
1 680
|
49 990
|
33 954
|
83 944
|
Jun-19
|
20 870
|
9 758
|
986
|
3 678
|
6 399
|
4 852
|
5 369
|
2 039
|
1 058
|
55 009
|
157
|
168
|
87
|
1 377
|
1 789
|
56 798
|
33 278
|
90 076
|
Cash operating costs
|
- $/oz
|
Sep-19
|
1 047
|
832
|
944
|
1 413
|
1 174
|
1 534
|
1 713
|
1 154
|
1 373
|
1 123
|
932
|
806
|
1 131
|
1 268
|
1 078
|
1 119
|
432
|
1 027
|
Jun-19
|
1 109
|
974
|
883
|
1 207
|
1 402
|
1 512
|
974
|
1 052
|
1 064
|
1 087
|
981
|
703
|
993
|
1 166
|
1 006
|
1 077
|
354
|
960
|
Cash operating costs
|
- $/t
|
Sep-19
|
152
|
225
|
270
|
133
|
139
|
160
|
248
|
127
|
145
|
172
|
4
|
4
|
11
|
26
|
8
|
56
|
19
|
50
|
Jun-19
|
160
|
243
|
291
|
145
|
161
|
158
|
197
|
131
|
132
|
176
|
4
|
3
|
10
|
29
|
8
|
54
|
18
|
48
|
Cash operating cost and Capital
|
- $/oz
|
Sep-19
|
1 290
|
972
|
1 003
|
1 636
|
1 411
|
1 846
|
1 844
|
1 179
|
1 389
|
1 295
|
932
|
829
|
1 131
|
1 432
|
1 131
|
1 278
|
1 137
|
1 260
|
Jun-19
|
1 437
|
1 146
|
933
|
1 460
|
1 734
|
1 808
|
1 097
|
1 155
|
1 180
|
1 296
|
1 005
|
738
|
1 000
|
1 290
|
1 058
|
1 268
|
931
|
1 213
|
All-in sustaining cost
|
- $/oz
|
Sep-19
|
1 283
|
965
|
1 037
|
1 599
|
1 376
|
1 784
|
1 804
|
1 213
|
1 429
|
1 287
|
937
|
796
|
1 106
|
1 447
|
1 120
|
1 270
|
1 110
|
1 250
|
Jun-19
|
1 422
|
1 188
|
1 061
|
1 315
|
1 639
|
1 792
|
1 138
|
1 221
|
1 250
|
1 311
|
1 013
|
740
|
1 012
|
1 359
|
1 087
|
1 281
|
988
|
1 234
|
Operating free cash flow margin¹
|
%
|
Sep-19
|
14
|
37
|
33
|
(10)
|
9
|
(28)
|
(16)
|
18
|
3
|
14
|
36
|
44
|
26
|
2
|
24
|
15
|
19
|
16
|
Jun-19
|
(8)
|
7
|
30
|
(7)
|
(33)
|
(37)
|
15
|
14
|
11
|
1
|
23
|
44
|
22
|
4
|
19
|
3
|
30
|
7
|
¹ Excludes run of mine costs for Kalgold (Sep-19:US$0.034m, Jun-19:US$0.190m) and Hidden Valley (Sep-19:-US$3 385m, Jun-19:US$1.023m).
HARMONY GOLD MINING COMPANY LIMITED
Harmony Gold Mining Company Limited was incorporated and registered as a public company in South Africa on 25 August 1950
Registration number: 1950/038232/06
Corporate office
Randfontein Office Park
PO Box 2
Randfontein, 1760
South Africa
Corner Main Reef Road and Ward Avenue Randfontein, 1759, South Africa
Telephone: +27 11 411 2000
Website: www.harmony.co.za
DIRECTORS
Dr PT Motsepe* (chairman)
JM Motloba* (deputy chairman)
M Msimang*^ (lead independent director)
PW Steenkamp ** (chief executive officer)
F Abbott ** (financial director)
HE Mashego** (executive director)
JA Chissano*1^
FFT De Buck*^
KV Dicks*^
Dr DSS Lushaba*^
HG Motau*^
KT Nondumo*^
VP Pillay*^
GR Sibiya*^
MV Sisulu*^
JL Wetton*^
AJ Wilkens*
* Non-executive
** Executive
^ Independent
1 Mozambican
TRADING SYMBOLS
JSE Limited: HAR
New York Stock Exchange: HMY
ISIN: ZAE 000015228
INVESTOR RELATIONS
E-mail: HarmonyIR@harmony.co.za
Telephone: +27 11 411 2314
Website: www.harmony.co.za
Marian van der Walt
Executive: Corporate and Investor relations
+27 (0)82 888 1242
Marian.vanderWalt@Harmony.co.za
Max Manoeli
Senior Investor Relations Coordinator
+27(0)82 759 1775
Max.Manoeli@Harmony.co.za
James Duncan
R&A Strategic Communications
+27 (0)79 336 4010
james@rasc.co.za
COMPANY SECRETARY
Telephone: +27 11 411 2094
E-mail: companysecretariat@harmony.co.za
SPONSOR
JP Morgan Equities South Africa (Pty) Ltd
1 Fricker Road, corner Hurlingham Road,
Illovo, Johannesburg, 2196
Private Bag X9936 Sandton, 2146
Telephone: +27 11 507 0300
Fax: +27 11 507 0503
TRANSFER SECRETARIES
Link Market Services South Africa (Proprietary) Limited
(Registration number 2000/007239/07)
13th Floor, Rennie House,
Ameshoff Street, Braamfontein
PO Box 4844
Johannesburg, 2000
South Africa
Telephone: 0861 546 572
E-mail: info@linkmarketservices.co.za
Fax: +27 86 674 4381
ADR* DEPOSITARY
Deutsche Bank Trust Company Americas c/o American Stock Transfer and Trust Company
Deutsche Bank Trust Company Americas
c/o AST
Operations Centre
6201 15th Avenue
Brooklyn
NY11219
E-mail queries: db@astfinancial.com
Website: www.astfinancial.com
Toll free (within US): +1-886-249-2593
Int: +1-718-921-8124
Fax: +1-718-921-8334
*ADR: American Depositary Receipts
HARMONY’S ANNUAL REPORTS
Harmony’s Integrated Annual Report, and its annual report filed on a Form 20F with the United States’ Securities and Exchange Commission for the financial year ended 30 June 2019, are available on our website (www.harmony.co.za/invest)
FORWARD-LOOKING STATEMENTS
This report contains forward-looking statements within the meaning of the safe harbor provided by Section 21E of the Exchange Act and Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), with respect to our financial condition, results of operations, business strategies, operating efficiencies, competitive positions, growth opportunities for existing services, plans and objectives of management, markets for stock and other matters.
These forward-looking statements, including, among others, those relating to our future business prospects, revenues, and the potential benefit of acquisitions (including statements regarding growth and cost savings) wherever they may occur in this report and the exhibits, are necessarily estimates reflecting the best judgment of our senior management and involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. As a consequence, these forward looking statements should be considered in light of various important factors, including those set forth in this report. Important factors that could cause actual results to differ materially from estimates or projections contained in the forward-looking statements include, without limitation: overall economic and business conditions in South Africa, Papua New Guinea, Australia and elsewhere; estimates of future earnings, and the sensitivity of earnings to gold and other metals prices; estimates of future gold and other metals production and sales; estimates of future cash costs; estimates of future cash flows, and the sensitivity of cash flows to the gold and other metals prices; estimates of provision for silicosis settlement; statements regarding future debt repayments; estimates of future capital expenditures; the success of our business strategy, development activities and other initiatives; future financial position, plans, strategies, objectives, capital expenditures, projected costs and anticipated cost savings and financing plans; estimates of reserves statements regarding future exploration results and the replacement of reserves; the ability to achieve anticipated efficiencies and other cost savings in connection with past and future acquisitions, as well as at existing operations; fluctuations in the market price of gold; the occurrence of hazards associated with underground and surface gold mining; the occurrence of labor disruptions; power cost increases as well as power stoppages, fluctuations and usage constraints; supply chain shortages and increases in the prices of production imports and the availability, terms and deployment of capital; changes in government regulation and the political environment, particularly tax, mining rights, environmental regulation and business ownership including any interpretation thereof; fluctuations in exchange rates and currency devaluations and other macroeconomic monetary policies; the adequacy of the Group’s insurance coverage; and socio-economic or political instability in South Africa, Papua New Guinea, Australia and other countries in which we operate.
For a more detailed discussion of such risks and other factors (such as availability of credit or other sources of financing), see the Company’s latest Integrated Annual Report and Form 20-F which is on file with the Securities and Exchange Commission, as well as the Company’s other Securities and Exchange Commission filings. The Company undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this report or to reflect the occurrence of unanticipated events, except as required by law. The foregoing factors and others described under “Risk Factors” should not be construed as exhaustive.
SIGNATURES
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.
|
|
|
|
|
|
|
|
Harmony Gold Mining Company Limited
|
|
|
Date: November 13, 2019
|
By: /s/ Frank Abbott
|
|
Name: Frank Abbott
|
|
Title: Financial Director
|
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