Harmony Gold, which has mines in SA and Papua New Guinea, said its gold output in the first six months of its financial year was 8% higher than the six months to end-June last year. Harmony, which has mines in Gauteng and the Free State, attributed the increased production to its grades remaining above 5g a tonne. It will release its interim results on February 2. Harmony is on the hunt for additional mines to add to its portfolio, aiming to lift output to 1.5-million ounces in three years as it shuts old, mined-out operations over the next five years. Harmony CEO Peter Steenkamp has said the company is searching in Africa and Papua New Guinea for opportunities. Harmony’s share price rose 3% to R34.90 on Tuesday morning following the announcement. © Business Day
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