JOHANNESBURG (miningweekly.com) - South Africa's third-largest bullion producer Harmony Gold on Friday reported that its production for the June quarter was likely to be between 13% and 14% higher than the previous quarter.
The company said the increase would be driven by higher tonnage and improved grade that would balance out the impact of higher total operating costs brought on mainly by an increase in electricity tariffs and consumables.
However, cash operating cost a unit for the period was about 5% lower quarter-on-quarter at R280 000/kg.
“June was a pleasing quarter, with operations performing more in line with our plans,” CEO Graham Briggs commented.
Harmony’s results for the quarter and year ended June 30 will be released on August 16.