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harmony gold Higher tonnage could lift output

July 30 2012 at 05:00am
By Bloomberg

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Harmony Gold’s production, including discontinued operations, for the June quarter was likely to be 13 percent to 14 percent higher than the previous quarter, driven by higher tonnage and improved grade, the company said on Friday. Total operating costs were higher, mainly due to an increase in electricity tariffs and consumables, it said. Cash operating cost per unit was approximately 5 percent lower quarter-on-quarter at R280 000 a kilogram. Chief executive Graham Briggs said: “June was a pleasing quarter, with operations performing more in line with their plans.” Harmony’s results for the quarter and year to June will be released on August 16. Its stock advanced 3.12 percent to R82.24 on Friday. – Staff reporter


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