Harmony lowers 2022 full-year guidance amid challenges at Hidden Valley
JSE-listed Harmony Gold says its South Africa gold production for the six months ended December 31, remained steady at 718 726 oz, compared with the 708 310 oz produced in the preceding six months ended June 30, 2021.
The Hidden Vallley mine, in Papua New Guinea, however, reported a 26% decrease in production, at 60 153 oz.
This was a result of geotechnical issues that prevented the effective mining of Stage 6 of the openpit, resulting in lower-grade stockpiles being processed. The company says Covid-19 restrictions and rostering in the country also impacted on production.
Additionally, more than 6 km of overland conveyor belt was damaged early in January this year, which will have a significant impact on Hidden Valley’s production for the remainder of the financial year.
The mine’s production guidance for the 2022 financial year has, therefore, been revised down from between 153 000 oz and 161 000 oz to between 115 000 oz and 117 000 oz.
The group's production has also been lowered from an initially guided 1.5-million to 1.6-million ounces to between 1.48-million and 1.56-million ounces.
Harmony will release its interim results on or about February 28.
Comments
The
functionality
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation