Harmony Gold

Investment case

  • JSE: R162.37 -3.24%
  • NYSE:$8.95 -2.08%
  • GOLD:$2 657/oz +0.34%
  • GOLD:R1 526 505/kg +0.34%
  • USD:ZARR17.87 -0.02%
  • At 11:29am, 16 Dec 2024

With operations and several projects in South Africa, Papua New Guinea and Australia, Harmony is a profitable, sustainable gold producer with a copper footprint, creating shared value for all stakeholders and leaving a lasting positive legacy.

FY22 performance

Gold produced

1.49Moz (FY21: 1.54Moz) -3%

Revenue generated

R42.6bn (FY21: R41.7bn) +2%

Production profit

R9.5bn (FY21: R12.0bn) -20%

Net debt to EBITDA
ratio stable at

0.1 times

Our strategy

A Re-engineered Harmony

Responsible stewardship

To be mindful of and to manage and limit the impacts of our activities on our employees, host communities and the environment. This encompasses our ESG performance

Operational excellence

To prioritise safety, strict cost control and management of grades mined, together with disciplined mining, to improve productivity and efficiencies

Cash certainty

To achieve operational plans, supported by current hedging strategy, contributes to cash flow certainty

Effective capital allocation

To evaluate and prioritise organic growth opportunities and safe, value-accretive acquisitions to ensure positive stakeholder returns and increase margins

Doing what we Know best

We have supplemented seven decades of experience with value-accretive acquisitions, revitalising our company as the largest gold producer by volume in South Africa. With a significant portion of the group’s Mineral Resources and Reserves in Papua New Guinea, one of the world’s premier new gold-copper regions, Harmony is also an acknowledged emerging market specialist.

Our embedded ESG practices will create lasting legacies and ensure a sustainable future for all stakeholders

We are geared to the rand gold price, with rand costs and US dollar revenue

As a 1.5Moz gold producer, we are expanding our margins through organic growth and new projects as we transition into a low-cost copper-gold producer

We have re-engineered our portfolio and deleveraged our balance sheet to create optionality and pay a dividend while growing the company