A proactive safety strategy and a flexible balance sheet led the way for some strong results out of the 2023–24 financial year (FY24) for Harmony Gold.
Copper now represents 21 per cent of Harmony’s total declared mineral resources of 136.5 million ounces (Moz), with the company’s declared mineral reserves increasing two per cent to 40.2Moz.
In gold production, Harmony experienced a six per cent increase to 48,578kg from the previous 45,651kg, and a six per cent increase in underground recovered grades to 6.11 grams per tonne.
On the safety side, the group lost time injury frequency rate was 5.53 from 5.49 per million hours worked, hitting below six for the third consecutive financial year.
“Harmony delivered an exceptional combined performance across our operations in FY24,” Harmony chief executive officer Peter Steenkamp said.
“This achievement was a result of clear strategic intent and successful execution, enabling us to deliver above plan and capitalise on higher gold prices. Our aim is to excel at what we do and I believe we achieved this goal.
“We continue to allocate most of our project capital to our higher-grade, higher-quality, and lower-risk assets. This aligns with our strategy of producing safe, profitable ounces and improving margins through operational excellence and value-accretive acquisitions.”
Steenkamp said the company would continue to invest in high-quality projects.
“By investing in our higher-grade gold mines, expanding our surface re-treatment business, and growing our international gold and copper assets, we will continue to transform and de-risk Harmony as we go from strength to strength,” he said.
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