Harmony Gold to return to profitability
Company has benefited from higher gold price and acquired assets from AngloGold
Harmony Gold Mining, the gold mining and exploration company that produces gold from its operations in SA and Papua New Guinea, on Thursday said it would bounce back to profitability in the year to June, with acquisition of the Mponeng operations from AngloGold Ashanti last October boosting its bottom line, in addition to higher average gold prices.
Like its bigger peers, Harmony has benefited from the rise in the prices of precious metals, which act as a store of value during bouts of uncertainty. The gold price peaked at $2,063.54/oz about a year ago when uncertainty about the direction of the Covid-19 pandemic fuelled demand...
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