OPERATING RESULTS - QUARTER ON QUARTER (US$/IMPERIAL)
|
|
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Three months ended
|
SOUTH AFRICA
|
Hidden Valley
|
TOTAL HARMONY
|
UNDERGROUND PRODUCTION
|
SURFACE PRODUCTION
|
TOTAL SOUTH AFRICA
|
Tshepong Operations
|
Moab Khotsong
|
Bambanani
|
Joel
|
Doornkop
|
Target 1
|
Kusasalethu
|
Masimong
|
Unisel
|
TOTAL UNDER- GROUND
|
Phoenix
|
Central plant reclamation
|
Dumps
|
Kalgold
|
TOTAL SURFACE
|
Ore milled
|
- t'000
|
Sep-20
|
379
|
235
|
64
|
93
|
247
|
153
|
215
|
126
|
51
|
1 563
|
1 706
|
1 112
|
1 319
|
420
|
4 557
|
6 120
|
930
|
7 050
|
Jun-20
|
227
|
112
|
32
|
47
|
132
|
108
|
130
|
64
|
30
|
882
|
1 672
|
1 119
|
1 687
|
404
|
4 882
|
5 764
|
1 070
|
6 834
|
Yield
|
- oz/ton
|
Sep-20
|
0.135
|
0.242
|
0.261
|
0.112
|
0.128
|
0.123
|
0.165
|
0.114
|
0.130
|
0.155
|
0.004
|
0.004
|
0.014
|
0.025
|
0.009
|
0.046
|
0.034
|
0.045
|
Jun-20
|
0.158
|
0.272
|
0.306
|
0.141
|
0.136
|
0.135
|
0.152
|
0.125
|
0.140
|
0.167
|
0.004
|
0.004
|
0.013
|
0.018
|
0.008
|
0.033
|
0.036
|
0.033
|
Gold produced
|
- oz
|
Sep-20
|
51 280
|
56 778
|
16 686
|
10 417
|
31 636
|
18 872
|
35 398
|
14 339
|
6 623
|
242 029
|
6 559
|
4 533
|
18 326
|
10 674
|
40 092
|
282 121
|
31 604
|
313 725
|
Jun-20
|
35 784
|
30 415
|
9 806
|
6 623
|
17 972
|
14 629
|
19 773
|
7 973
|
4 212
|
147 187
|
6 430
|
4 662
|
22 023
|
7 363
|
40 478
|
187 665
|
38 967
|
226 632
|
Gold sold
|
- oz
|
Sep-20
|
49 898
|
54 785
|
16 236
|
10 127
|
29 932
|
19 130
|
33 790
|
13 953
|
6 430
|
234 281
|
6 527
|
4 533
|
17 586
|
10 449
|
39 095
|
273 376
|
34 015
|
307 391
|
Jun-20
|
36 362
|
29 707
|
9 967
|
6 752
|
17 554
|
13 632
|
18 776
|
8 102
|
4 276
|
145 128
|
6 269
|
4 565
|
22 152
|
7 105
|
40 091
|
185 219
|
37 005
|
222 224
|
Gold price received
|
- $/oz
|
Sep-20
|
1 707
|
1 710
|
1 710
|
1 709
|
1 701
|
1 711
|
1 690
|
1 495
|
1 707
|
1 693
|
1 560
|
1 707
|
1 702
|
1 712
|
1 681
|
1 691
|
1 753
|
1 698
|
Jun-20
|
1 553
|
1 552
|
1 549
|
1 545
|
1 552
|
1 249
|
1 529
|
1 384
|
1 280
|
1 503
|
1 410
|
1 526
|
1 528
|
1 526
|
1 509
|
1 504
|
1 586
|
1 518
|
Gold revenue
|
($'000)
|
Sep-20
|
85 172
|
93 694
|
27 761
|
17 308
|
50 927
|
32 734
|
57 108
|
20 858
|
10 973
|
396 535
|
10 184
|
7 737
|
29 930
|
17 885
|
65 736
|
462 271
|
59 622
|
521 893
|
Jun-20
|
56 458
|
46 101
|
15 438
|
10 434
|
27 243
|
17 020
|
28 700
|
11 210
|
5 473
|
218 077
|
8 841
|
6 967
|
33 839
|
10 844
|
60 491
|
278 568
|
58 705
|
337 273
|
Cash operating cost (net of by- product credits)
|
($'000)
|
Sep-20
|
75 825
|
57 913
|
17 944
|
16 811
|
31 527
|
25 331
|
46 934
|
20 379
|
8 367
|
301 031
|
5 988
|
4 323
|
15 264
|
12 472
|
38 047
|
339 078
|
23 468
|
362 546
|
Jun-20
|
52 231
|
41 974
|
11 996
|
12 282
|
21 209
|
19 497
|
30 860
|
14 283
|
6 136
|
210 468
|
4 947
|
3 385
|
17 139
|
7 204
|
32 675
|
243 143
|
31 849
|
274 992
|
Inventory movement
|
($'000)
|
Sep-20
|
(1 860)
|
(765)
|
(700)
|
(411)
|
(1 734)
|
(41)
|
(1 973)
|
(625)
|
(261)
|
(8 370)
|
(98)
|
(39)
|
(563)
|
(384)
|
(1 084)
|
(9 454)
|
4 190
|
(5 264)
|
Jun-20
|
384
|
(1 883)
|
185
|
89
|
(451)
|
(1 160)
|
(1 617)
|
290
|
126
|
(4 037)
|
(121)
|
(52)
|
124
|
(199)
|
(248)
|
(4 285)
|
(3 147)
|
(7 432)
|
Operating costs
|
($'000)
|
Sep-20
|
73 965
|
57 148
|
17 244
|
16 400
|
29 793
|
25 290
|
44 961
|
19 754
|
8 106
|
292 661
|
5 890
|
4 284
|
14 701
|
12 088
|
36 963
|
329 624
|
27 658
|
357 282
|
Jun-20
|
52 615
|
40 091
|
12 181
|
12 371
|
20 758
|
18 337
|
29 243
|
14 573
|
6 262
|
206 431
|
4 826
|
3 333
|
17 263
|
7 005
|
32 427
|
238 858
|
28 702
|
267 560
|
Production profit
|
($'000)
|
Sep-20
|
11 207
|
36 546
|
10 517
|
908
|
21 134
|
7 444
|
12 147
|
1 104
|
2 867
|
103 874
|
4 294
|
3 453
|
15 229
|
5 797
|
28 773
|
132 647
|
31 964
|
164 611
|
Jun-20
|
3 843
|
6 010
|
3 257
|
(1 937)
|
6 485
|
(1 317)
|
(543)
|
(3 363)
|
(789)
|
11 646
|
4 015
|
3 634
|
16 576
|
3 839
|
28 064
|
39 710
|
30 003
|
69 713
|
Capital expenditure
|
($'000)
|
Sep-20
|
9 913
|
6 685
|
788
|
2 030
|
4 982
|
4 948
|
1 706
|
164
|
0
|
31 216
|
0
|
176
|
306
|
1 734
|
2 216
|
33 432
|
13 503
|
46 935
|
Jun-20
|
4 861
|
2 299
|
439
|
902
|
2 444
|
3 580
|
975
|
190
|
79
|
15 769
|
205
|
368
|
22
|
2 930
|
3 525
|
19 294
|
6 363
|
25 657
|
Cash operating cost
|
- $/oz
|
Sep-20
|
1 479
|
1 020
|
1 075
|
1 614
|
997
|
1 342
|
1 326
|
1 421
|
1 263
|
1 244
|
913
|
954
|
833
|
1 168
|
949
|
1 202
|
743
|
1 156
|
Jun-20
|
1 460
|
1 380
|
1 223
|
1 854
|
1 180
|
1 333
|
1 561
|
1 791
|
1 457
|
1 430
|
769
|
726
|
778
|
978
|
807
|
1 296
|
817
|
1 213
|
Cash operating costs
|
- $/t
|
Sep-20
|
200
|
246
|
280
|
181
|
128
|
166
|
218
|
162
|
164
|
193
|
4
|
4
|
12
|
30
|
8
|
55
|
25
|
51
|
Jun-20
|
230
|
375
|
375
|
261
|
161
|
181
|
237
|
223
|
205
|
239
|
3
|
3
|
10
|
18
|
7
|
42
|
30
|
40
|
Cash operating cost
and Capital
|
- $/oz
|
Sep-20
|
1 672
|
1 138
|
1 123
|
1 809
|
1 154
|
1 604
|
1 374
|
1 433
|
1 263
|
1 373
|
913
|
992
|
850
|
1 331
|
1 004
|
1 320
|
1 170
|
1 305
|
Jun-20
|
1 595
|
1 456
|
1 268
|
1 991
|
1 316
|
1 577
|
1 610
|
1 815
|
1 476
|
1 537
|
801
|
805
|
779
|
1 376
|
894
|
1 398
|
981
|
1 327
|
All-in sustaining cost
|
- $/oz
|
Sep-20
|
1 710
|
1 177
|
1 156
|
1 866
|
1 110
|
1 551
|
1 421
|
1 495
|
1 324
|
1 399
|
902
|
984
|
853
|
1 366
|
1 014
|
1 343
|
1 321
|
1 341
|
Jun-20
|
1 607
|
1 462
|
1 308
|
2 025
|
1 263
|
1 645
|
1 663
|
1 908
|
1 558
|
1 561
|
810
|
797
|
780
|
1 470
|
909
|
1 420
|
1 046
|
1 358
|
Operating free cash flow margin¹
|
%
|
Sep-20
|
(1%)
|
31%
|
33%
|
(9%)
|
28%
|
8%
|
15%
|
2%
|
24%
|
16%
|
41%
|
42%
|
48%
|
21%
|
39%
|
19%
|
28%
|
20%
|
Jun-20
|
(1%)
|
4%
|
19%
|
(26%)
|
13%
|
(36%)
|
(11%)
|
(29%)
|
(14%)
|
(4%)
|
42%
|
46%
|
49%
|
7%
|
40%
|
6%
|
30%
|
10%
|
¹Excludes run of mine costs for Kalgold (Sep-20:US$0.038m, Jun-20:US$0.012m) and Hidden Valley (Sep-20:-US$5.665m, Jun-20:-US$3.035m).
DIRECTORATE AND ADMINISTRATION
HARMONY GOLD MINING COMPANY LIMITED
Harmony Gold Mining Company Limited
was incorporated and registered as a public
company in South Africa on 25 August 1950
Registration number: 1950/038232/06
CORPORATE OFFICE
Randfontein Office Park
PO Box 2
Randfontein, 1760
South Africa
Corner Main Reef Road and Ward Avenue
Randfontein, 1759
South Africa
Telephone: +27 11 411 2000
Website: www.harmony.co.za
DIRECTORS
Dr PT Motsepe* (chairman)
JM Motloba* (deputy chairperson)
M Msimang*^ (lead independent director)
PW Steenkamp** (chief executive officer)
BP Lekubo** (financial director)
HE Mashego** (executive director)
JA Chissano*#^
FFT De Buck*^
Dr DS Lushaba*^
HG Motau*^
KT Nondumo*^
VP Pillay*^
GR Sibiya*^
JL Wetton*^
AJ Wilkens*
* Non-executive
** Executive
^ Independent
# Mozambican
INVESTOR RELATIONS
E-mail: HarmonyIR@harmony.co.za
Telephone:
+27 11 411 2314 or
+27 82 759 1775
Website: www.harmony.co.za
GROUP COMPANY SECRETARY
Shela Mohatla
Randfontein Office Park
Corner Main Reef Road and Ward Avenue
Randfontein, 1759
South Africa
(PO Box 2, Randfontein, 1760, South Africa)
E-mail: companysecretariat@harmony.co.za
TRANSFER SECRETARIES
JSE Investor Services (Pty) Limited
(Registration number 2000/007239/07)
13th Floor, Rennie House,
Ameshoff Street, Braamfontein
PO Box 4844
Johannesburg, 2000
South Africa
Telephone: +27 861 546 572
E-mail: info@linkmarketservices.co.za
Fax: +27 86 674 4381
ADR* DEPOSITARY
Deutsche Bank Trust Company Americas
c/o American Stock Transfer and Trust Company
Operations Centre, 6201 15th Avenue, Brooklyn,
NY 11219, United States
E-mail queries: db@astfinancial.com
Toll free (within the US): +1-886-249-2593
Int: +1 718 921 8137
Fax: +1 718 921 8334
*ADR: American Depositary Receipts
SPONSOR
JP Morgan Equities South Africa (Pty) Limited
1 Fricker Road, corner Hurlingham Road,
Illovo, Johannesburg, 2196
Private Bag X9936, Sandton, 2146
Telephone: +27 11 507 0300
Fax: +27 11 507 0503
TRADING SYMBOLS
JSE Limited: HAR
New York Stock Exchange, Inc.: HMY
ISIN: ZAE 000015228
FORWARD LOOKING STATEMENTS
This report contains forward-looking statements within the meaning of the safe harbour provided by
Section 21E of the Exchange Act and Section 27A of the Securities Act of 1933, as amended (the "Securities
Act"), with respect to our financial condition, results of operations, business strategies, operating efficiencies,
competitive positions, growth opportunities for existing services, plans and objectives of management, markets
for stock and other matters.
These forward-looking statements, including, among others, those relating to our future business prospects,
revenues, and the potential benefit of acquisitions (including statements regarding growth and cost savings)
wherever they may occur in this report and the exhibits to this report, are necessarily estimates reflecting the
best judgement of our senior management and involve a number of risks and uncertainties that could cause
actual results to differ materially from those suggested by the forward-looking statements. As a consequence,
these forward-looking statements should be considered in light of various important factors, including those
set forth in this report. Important factors that could cause actual results to differ materially from estimates or
projections contained in the forward-looking statements include, without limitation:
- Overall economic and business conditions in South Africa, Papua New Guinea, Australia and elsewhere
(including as a result of the coronavirus disease ("Covid-19") pandemic)
- Estimates of future earnings, and the sensitivity of earnings to gold and other metals prices
- Estimates of future gold and other metals production and sales
- Estimates of future cash costs
- Estimates of future cash flows, and the sensitivity of cash flows to gold and other metals prices
- Estimates of provision for silicosis settlement and the spread of other contagious diseases, such as Covid-19
- Estimates of future tax liabilities under the Carbon Tax Act (South Africa)
- Statements regarding future debt repayments
- Estimates of future capital expenditures
- The success of our business strategy, exploration and development activities and other initiatives
- Future financial position, plans, strategies, objectives, capital expenditures, projected costs and anticipated
cost savings and financing plans
- Estimates of reserves statements regarding future exploration results and the replacement of reserves
- The ability to achieve anticipated efficiencies and other cost savings in connection with past and future
acquisitions, as well as at existing operations
- Fluctuations in the market price of gold
- The occurrence of hazards associated with underground and surface gold mining
- The occurrence of labour disruptions related to industrial action or health and safety incidents
- Power cost increases as well as power stoppages, fluctuations and usage constraints
- Supply chain shortages and increases in the prices of production imports and the availability, terms and
deployment of capital
- Our ability to hire and retain senior management, sufficiently technically-skilled employees, as well as our
ability to achieve sufficient representation of historically disadvantaged persons in management positions
- Our ability to comply with requirements that we operate in a sustainable manner and provide benefits to
affected communities
- Potential liabilities related to occupational health diseases
- Changes in government regulation and the political environment, particularly tax and royalties, mining
rights, health, safety, environmental regulation and business ownership including any interpretation thereof;
court decisions affecting the mining industry, including, without limitation, regarding the interpretation of
mining rights
- Our ability to protect our information technology and communication systems and the personal data
we retain
- Risks related to the failure of internal controls
- The outcome of pending or future litigation or regulatory proceedings
- Fluctuations in exchange rates and currency devaluations and other macroeconomic monetary policies
- The adequacy of the Group's insurance coverage
- Any further downgrade of South Africa's credit rating
- Socio-economic or political instability in South Africa, Papua New Guinea and other countries in which
we operate
For a more detailed discussion of such risks and other factors (such as availability of credit or other sources
of financing), see the Company's latest Integrated Report and Form 20-F which is on file with the Securities
and Exchange Commission, as well as the Company's other Securities and Exchange Commission filings.
The Company undertakes no obligation to update publicly or release any revisions to these forward-looking
statements to reflect events or circumstances after the date of this report or to reflect the occurrence of
unanticipated events, except as required by law. The foregoing factors and others described under "Risk
Factors" should not be construed as exhaustive. The forward-looking financial information has not been
reviewed and reported on by the Company's auditors.
Johannesburg
9 November 2020
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly authorized.
|
|
|
|
|
|
|
|
Harmony Gold Mining Company Limited
|
|
|
Date: November 9, 2020
|
By: /s/ Boipelo Lekubo
|
|
Name: Boipelo Lekubo
|
|
Title: Financial Director
|