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.