Loading prices...

Register/Sign in
ScrapMonster
Are ads getting in your way? Register for Ad-free pages and live data.
Get an instant offer on your damaged car
Mining News May 12, 2021 09:30:43 PM

Harmony Gold Benefited Substantially From Mponeng Mine Integration

Paul Ploumis
ScrapMonster Author
Meantime, the net debts increased by R373 million to R953 million at the end of March this year.
Harmony Gold Benefited Substantially From Mponeng Mine Integration

SEATTLE (Scrap Monster): Harmony Gold announced operational update for the nine months ended 31st March, 2021. The company delivered another strong set of operational results year-on-year, primarily on the back of successful integration of Mponeng and related assets in South Africa into its portfolio.

The company’s adjusted earnings surged 360% over the previous year to R9.4 billion, while the operating free cash flow was up significantly by 78% to R5.3 billion. The gold production totalled 34,969 kg in the first nine-month period in FY21, higher by 13.5% from 30,814 kg produced during the same period last fiscal. Meantime, the production from South African operations recorded an increase by 15.9% to 31,470 kg. The all-in sustaining costs were $1,416 per Oz. Meantime, the net debts increased by R373 million to R953 million at the end of March this year.

ALSO READ: Harmony Gold Raises $200M to Fund Anglogold Acquisition

The sequential year-on-year jump in production as well as free cash flow was due to successful integration of Mponeng as well as higher rand-per-kilogram gold price, the company press release said.

The company is well positioned for the next phase of its growth strategy, supported by healthy balance sheet. It expects boosted cash flow margins and sustained production for many more years to come, aided by a pipeline of cash-enhancing projects.

 

Are ads getting in your way? Register for Ad-free pages and live data.

How to Recycle

Proper Disposal of Alkaline Batteries

Proper Disposal of Alkaline Batteries

Improper disposal of alkaline batteries can result in various negative consequences. Explore our blog post to discover safe disposal methods.
Christmas Tree Recycling - Responsible Ways

Christmas Tree Recycling - Responsible Ways

Proper preparation and using a reliable Christmas tree recycling directory ensures responsible disposal and maximizes the benefits.
Stop Throwing Away LED Light Bulbs -- Do This Instead

Stop Throwing Away LED Light Bulbs -- Do This Instead

Stop throwing away LED light bulbs and dispose of them responsibly. Proper disposal ensures environmental safety and sustainability.
powered by RecyclingMonster
Are ads getting in your way? Register for Ad-free pages and live data.
×

Quick Search

Advanced Search