Harmony Gold Mining (NYSE:HMY)
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6 Months : From Jun 2019 to Dec 2019
By Oliver Griffin
Harmony Gold Mining Co. (HAR.JO) on Thursday said gold production rose 17% in fiscal 2019, boosted by the full inclusion of output from the Moab Khotsong and Hidden Valley projects.
The South African gold miner said it produced 1.44 million ounces of gold in the year ended June 30, in line with its guidance of 1.45 million ounces.
Production was helped by higher grades at underground operations, which also marks the seventh consecutive year of underground recovered grades increasing.
On a U.S. dollar basis, all-in sustaining costs for the year are expected to be 2% lower at between $1,210 to $1,220 an ounce.
The company also said recent developments in Papua New Guinea have resulted in a delay to permitting of the Wafi-Golpu project.
Harmony Gold said it is difficult to estimate the duration of this delay but further updates will be made when possible.
Write to Oliver Griffin at firstname.lastname@example.org; @OliGGriffin
(END) Dow Jones Newswires
July 25, 2019 03:05 ET (07:05 GMT)
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