Latest news with #BeyersNel
IOL News
23-06-2025
- Business
- IOL News
Harmony Gold poised to meet production and cost guidance for 10th year
A Harmony Gold local mine. The group has met all its operational and production guidance metrics for the 2025 financial year and continued to benefit from a relatively high rand per kilogram gold price. Image: Supplied Harmony Gold is set to meet its production, grade, and cost guidance for its financial year to June 30, 2025, the 10th consecutive year of meeting its targets, the company said in an update to its shareholders via the JSE on Monday. It had been 'another landmark year underpinned by exceptional operating free cash flows, improved recovered grades whilst advancing our copper-gold growth strategy,' CEO Beyers Nel said in the update. As the financial year drew to a close, total production was expected to be in line with guidance of between 1.4 million to 1.5 million ounces, while all-in-sustaining costs would be between the guided range of R1 020 000/kg to R1 100 000/kg. Underground recovered grades would be higher than the guided 6g/t, while capital expenditure would be slightly below the guided R10.8 billion. The group said the positive performance was made possible through an embedded approach to sustainability, disciplined capital allocation, and consistent, predictable production underpinned by "operational excellence". This had enabled Harmony to improve the quality of its portfolio, extend the life of its mines, and deliver stellar cash flow generation, said Nel. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ Over the past three years, Harmony has transformed into a geographically diversified specialist mining company with a compelling gold and copper story. Nel said they had a firm grip on costs, which were predominantly rand-based and comprised mainly labor, consumables, and electricity. He said they continue to benefit from the high rand per kilogram gold price. Highlights during the year included meeting or beating all guidance metrics. The JSE share price reached a record high in April 2025. A record interim dividend payout of R1.4 billion was paid. In addition, the potential R18.4bn acquisition of MAC Copper in New South Wales, Australia, was announced, which, pending conclusion in the second half, was expected to bring over 40 000 tons of annual copper production and contribute immediately towards free cash flow generation. Phase 1 of the Mine Waste Solutions extension project was delivered on time and on budget. Looking ahead, Nel said they would continue to allocate most of their project capital to higher-grade, higher-quality, and lower-risk assets. This included the extensions at Hidden Valley, Moab Khotsong, and Mponeng. The Eva Copper project's feasibility study was being finalised. Harmony's share price had nudged up 1.33% to R257.25 by Monday midday. BUSINESS REPORT
The Herald
23-06-2025
- Business
- The Herald
Harmony on track to meet production guidance
Harmony Gold, SA's biggest gold producer by volume, said it remains on track to deliver its production and cost guidance as the gold price continues to add shine to its performance. Harmony, which paid a record R1.4bn dividend in the six months ended December 2024, said it expects to meet the 2025 financial year guidance of between 1.4m ounces and 1.5m ounces 'comfortably' between the guided range of R1.02m/kg to R1.1m/kg. CEO Beyers Nel said underground recovered grades will be higher than the guided 6g/t while total capital expenditure for the year will be slightly below the guided R10.8bn. 'We have a firm grip on our costs, which are predominantly rand based and comprise mainly labour, consumables and electricity. We continue to benefit from the high rand per kilogram gold price and maintain a high level of certainty and predictability as it relates to our planning parameters,' Nel said. Harmony, which operates some of SA's deep level gold mines, also has operations in Papua New Guinea and Australia. The company has been on an acquisition path and last month announced the potential $1.03bn (R18.6bn) acquisition of MAC Copper in New South Wales, Australia, which is expected to produce more than 40 000 tonnes of copper annually and contribute immediately towards increasing free cash flow generation. 'Over the past three years, Harmony has transformed into a geographically diversified specialist mining company with a compelling gold and copper story. We continue creating meaningful value for our stakeholders through safe, profitable ounces and improving margins by delivering on our strategic objectives,' Nel said. He said Harmony will continue to allocate most of its project capital to its higher-grade, higher-quality, and lower-risk assets. 'This includes the extension projects at Hidden Valley, Moab Khotsong and Mponeng. We are also finalising the Eva Copper project's feasibility study and will provide an update on the outcome thereof when we release our year-end results in August 2025,' he said. The company is scheduled to release its 2025 financial results on August 28. TimesLIVE
TimesLIVE
23-06-2025
- Business
- TimesLIVE
Harmony on track to meet production guidance
Harmony Gold, SA's biggest gold producer by volume, said it remains on track to deliver its production and cost guidance as the gold price continues to add shine to its performance. Harmony, which paid a record R1.4bn dividend in the six months ended December 2024, said it expects to meet the 2025 financial year guidance of between 1.4m ounces and 1.5m ounces 'comfortably' between the guided range of R1.02m/kg to R1.1m/kg. CEO Beyers Nel said underground recovered grades will be higher than the guided 6g/t while total capital expenditure for the year will be slightly below the guided R10.8bn. 'We have a firm grip on our costs, which are predominantly rand based and comprise mainly labour, consumables and electricity. We continue to benefit from the high rand per kilogram gold price and maintain a high level of certainty and predictability as it relates to our planning parameters,' Nel said. Harmony, which operates some of SA's deep level gold mines, also has operations in Papua New Guinea and Australia. The company has been on an acquisition path and last month announced the potential $1.03bn (R18.6bn) acquisition of MAC Copper in New South Wales, Australia, which is expected to produce more than 40 000 tonnes of copper annually and contribute immediately towards increasing free cash flow generation. 'Over the past three years, Harmony has transformed into a geographically diversified specialist mining company with a compelling gold and copper story. We continue creating meaningful value for our stakeholders through safe, profitable ounces and improving margins by delivering on our strategic objectives,' Nel said. He said Harmony will continue to allocate most of its project capital to its higher-grade, higher-quality, and lower-risk assets. 'This includes the extension projects at Hidden Valley, Moab Khotsong and Mponeng. We are also finalising the Eva Copper project's feasibility study and will provide an update on the outcome thereof when we release our year-end results in August 2025,' he said. The company is scheduled to release its 2025 financial results on August 28.
The Herald
05-06-2025
- Business
- The Herald
Worker killed at Harmony's Joel mine in the Free State
A worker was killed in a fall of ground accident at Harmony Gold's Joel mine in Free State on Wednesday. The company said all relevant authorities, family members and colleagues had been informed. It said it was devastated by another loss of life. 'Our safety strategy and culture include both systemic and humanistic factors and controls. These controls are designed to avoid incidents, protect our employees and have to be adhered to at all times. No working area will be accessed unless it has been declared safe,' said Beyers Nel, Harmony CEO. The Association of Mineworkers and Construction Union (Amcu) said this was the 11th fatality at Harmony this year, bringing the total fatalities in the South African mining industry to 25. 'Eleven fatalities point directly to the company's failure to provide conditions that are safe for the operation to take place,' Amcu said. The union added that if Harmony dodges analysing organisational failures and blames the deaths on the behaviour of employees, it is likely they will experience more injuries and disasters. Harmony said Thursday has been declared a day of safety across all Harmony's South African operations to engage with the company's employees and stakeholders and to reflect on the company's safety practices at each of its mines. 'Our day of safety is not simply a pause, it is a call to action,' said Nel. TimesLIVE
TimesLIVE
04-06-2025
- Business
- TimesLIVE
Worker killed at Harmony's Joel mine in the Free State
A worker was killed in a fall of ground accident at Harmony Gold's Joel mine in Free State on Wednesday. The company said all relevant authorities, family members and colleagues had been informed. It said it was devastated by another loss of life. 'Our safety strategy and culture include both systemic and humanistic factors and controls. These controls are designed to avoid incidents, protect our employees and have to be adhered to at all times. No working area will be accessed unless it has been declared safe,' said Beyers Nel, Harmony CEO. The Association of Mineworkers and Construction Union (Amcu) said this was the 11th fatality at Harmony this year, bringing the total fatalities in the South African mining industry to 25. 'Eleven fatalities point directly to the company's failure to provide conditions that are safe for the operation to take place,' Amcu said. The union added that if Harmony dodges analysing organisational failures and blames the deaths on the behaviour of employees, it is likely they will experience more injuries and disasters. Harmony said Thursday has been declared a day of safety across all Harmony's South African operations to engage with the company's employees and stakeholders and to reflect on the company's safety practices at each of its mines. 'Our day of safety is not simply a pause, it is a call to action,' said Nel.
