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Harmony forecasts output increase

Harmony Gold (HAR) on Friday said it expected gold production for the three months ended in June to have increased by between 13% and 14%‚ compared with the previous quarter.

Releasing its latest production guidance‚ the company said the rise in output was driven by higher tonnage mined along with an improvement in the grade.

Chief executive of Harmony Gold Graham Briggs. Credit: INDEPENDENT MEDIA

Total operating costs are expected to come in higher‚ due to the increase in electricity tariffs.

“June was a pleasing quarter‚ with operations performing more in line with their plans‚” said Graham Briggs‚ Harmony’s CEO. - I-Net Bridge

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