South Africa’s Harmony Gold’s third quarter output steady


    South Africa’s Harmony Gold Mining Company said on Wednesday bullion production was flat for the third quarter but was expected to rise with the addition of its newly acquired Moab Khotsong mine.

    Gold production ticked up one percent to 816,663 ounces for the nine months ended March 2018, compared with the same period a year ago.

    The mining company said it still expects to meet its annual output expectations of 1.8 million ounces.

    “Harmony’s performance in the fourth quarter of FY18 will be boosted with the inclusion of Moab Khotsong and higher production at Hidden Valley where production is ramping up,” said chief executive officer, Peter Steenkamp.

    Harmony added Moab Khotsong to its portfolio in March to boost its operational cash flow and provide “substantial cost savings”.

    – Reuters


    Please enter your comment!
    Please enter your name here