Harmony Gold Mining CEO Peter Steenkamp
JOHANNESBURG (miningweekly.com) – Harmony Gold Mining is on track to meet its production guidance of 1.18-million ounces for the 2018 financial year.
CEO Peter Steenkamp on Wednesday said Harmony’s performance in the fourth quarter of the 2018 financial year, to end June 30, will be boosted by the inclusion of Moab Khotsong and higher production at Hidden Valley, where production is ramping up.
Moab Khotsong became part of the Harmony asset portfolio last month. The integration of Harmony’s information technology systems, management and operating processes at the operation is progressing well, reported Steenkamp.
Following the inclusion of Moab Khotsong, Harmony increased its gold production guidance from 1.1-million to 1.18-million ounces.
Production and grade guidance for Moab Khotsong for the four months ending June 30 is 80 000 oz and 8 g/t, respectively.
The all-in sustaining cost guidance for the full-year remains at R520 000/kg.
Meanwhile, Harmony’s production, excluding Moab Khotsong, was steady at 816 663 oz for the nine months ended March 31 – up by 1% compared with the nine months ended March 31, 2017.
The company’s underground grade was 3% higher at 5.19 g/t and cash operating costs were contained at R433 502/kg.