Harmony Gold Mining said yesterday despite the ongoing electricity shortages and supply chain disruptions, total gold production increased quarter-on-quarter.
In its production update released on Wednesday, the gold miner said the total gold production for the six-month ended December 31, 2022, of the 2023 financial year was between 720 000 ounces, or 22 394kg, and 745 000 ounces, or 23 171kg.
"This production increase was mainly as a result of improved underground recovered grades in the second quarter of the 2023 financial year, which were higher than the 5.45 to 5.60 grams per tonne guided earlier this year," it said.
The group said it was on track to achieve its full-year production target, which is between 1.4 million and 1.5 million ounces of gold in the year to end of June at an all-in sustaining cost of less than R900 000 per kg.
The gold miner is now looking to diversify into commodities such as copper as the local gold sector matures.
Harmony said it also received all necessary permits and approvals for the Kareerand tailings storage facility expansion at Mine Waste Solutions towards the end of the second quarter of the 2023 financial year.
"Following the conclusion of the Eva Copper transaction in December 2022, feasibility studies are currently under way. This low-cost near-term copper-gold project in Northern Queensland, Australia is fully permitted, and the results of the studies are expected within 12 months," it said.
BUSINESS REPORT