Harmony Gold

Investment case

  • JSE: R182.68 +4.72%
  • NYSE:$9.59 +1.54%
  • GOLD:$2 683/oz +0.23%
  • GOLD:R1 618 238/kg -0.62%
  • USD:ZARR18.76 -0.85%
  • At 16:44pm, 15 Jan 2025

With operations and projects in South Africa, Papua New Guinea and Australia, Harmony is a gold mining specialist with a growing international copper footprint.

FY24 performance

Gold produced

1.56Moz (FY23: 1.47Moz)

Revenue generated

R61.38bn (FY23: R49.28bn)

Production profit

R22.46bn (FY23: R14.41bn)

All-in sustaining cost

R901 550/kg
(US$1 500/oz) (FY23: R889 766/kg; US$1558/oz)

Our strategy

To produce safe profitable ounces and improve margins through operational excellence and value-accretive acquisitions.

Responsible stewardship

Embedding ESG in our business to deliver sustainable business practices – protecting and preserving the environment and creating shared value for our stakeholders.

Operational excellence

Improving the safety, productivity and efficiency of our operations while ensuring we meet annual production guidance and achieve operational plans.

Cash certainty

Maintaining a strong and flexible balance sheet and a net cash position with excellent liquidity.

Effective capital allocation

Evaluating and prioritising safe, organic growth opportunities and value-accretive acquisitions to deliver positive stakeholder returns and increase margins.

WHAT DIFFERENTIATES US

A solid investment case, a compelling gold-copper story

Lower risk
profile
  • Prioritising safety
  • Embedding ESG
    through clear,
    sustainable
    development strategy
  • Continuous skills
    development
  • Experienced
    management
  • Strong succession
    pipeline
Strong operational metrics
  • Operational excellence and good momentum at each mine
  • Better efficiencies
    through various
    business improvement
    initiatives
  • Project execution
    discipline
  • Geared exposure to
    Rand/kg gold price
Long, diversified production profile
  • Significant gold-copper Resource base
  • Excellent Resource to
    Reserve conversion
    potential
  • Identifying growth
    opportunities that lower
    risk and increase
    margins
  • Near-term copper
    production
  • Tier 1 copper-gold
    porphyry
Robust and flexible
balance sheet
  • Net cash position with excellent liquidity
  • Ability to fund capital
    and approved projects
    internally at current
    gold prices
  • Clear hedging strategy
Clear capital allocation framework
  • Balancing growth aspirations with shareholder returns
  • Consistent dividends in line with policy