Harmony Gold seeks end to 18-year PNG deadlock
HARMONY Gold is hoping that mediation will bring what it has sought for nearly 18 years: the development of Wafi-Golpu, a gold and copper deposit in Papua New Guinea (PNG) that…
Harmony Gold declares record interim payout after upgrade
HARMONY Gold today unveiled a major upgrade in its dividend policy in which it will pay up to 50% of net free cash provided debt is at manageable levels. The miner kicked off a…
Costs to temper Harmony’s all-action interim earnings
A FLEET of market and finance related costs took the edge off Harmony Gold’s interim performance for the six months ended December. The gold miner said in a trading statement on…
Harmony to hit full year guidance despite hiccoughs in Q2
HARMONY Gold said on Tuesday it would meet full-year production guidance of between 1.4 to 1.5 million ounces for the 12-months ended June. Targeted all-in-sustaining costs for…
Barrick names new CFO as leadership shake up continues
BARRICK Mining has appointed board member Helen Cai as CFO, replacing Graham Shuttleworth in the latest senior departure at the Canadian miner amid speculation over its future,…
Barrick surges on game-changer gold discovery
BARRICK Mining Corporation has witnessed its most dramatic share price surge in five years following revelations about a potentially transformative gold discovery in Nevada. The…
Harmony Gold’s incredible ascent to JSE rock-star
OF all the recent developments in the South African mining industry, the transformation of Harmony Gold from JSE ‘dog’ to ‘rock star’ in 18 months has to be the most dramatic.…
Harmony gets its financial ducks in a row
HARMONY pushed its net cash position up 285% to R11.1bn in the year to end-June giving it a total available liquidity of nearly R21bn which positions the group well for the…
Soaring tax takes edge off Harmony earnings
HARMONY Gold expects that its earnings for the year to end-June will be between 57% and 77% higher at between R21,80 and R24,5 a share compared with the R13,86 a share reported…
Harmony Gold never better placed to build Wafi-Golpu
HARMONY Gold had never been in a better position to finance and build the massive Wafi-Golpu copper/gold project in Papua New Guinea (PNG) in which it was a 50/50 partner with US…
Harmony hoping to export its operational nous to Australia
NOW we know what Harmony Gold intends doing with all that cash it’s built up since the gold price went into overdrive early in 2024. On May 27 it unveiled an agreement to buy New…
Time for Harmony Gold to loosen the purse strings?
HARMONY Gold’s former CEO Peter Steenkamp will go down in the company’s history as one of its most important change agents. It was under his watch the company bought the…
Harmony’s Nel says gold miner can’t hoard cash forever
HARMONY Gold CEO Beyers Nel acknowledged the company “cannot forever hoard cash”, but a dividend policy adjustment or special payout was not yet in the miner’s sights. “I don’t…
Harmony declares record dividend as net cash mounts
PROPELLED by record-breaking gold prices Harmony Gold on Tuesday declared a record-breaking interim dividend. Coming in at R1.4bn, the payout was as Harmony’s net cash leapt…
Harmony Gold on track to beat production forecast for 2025
HARMONY Gold said on Monday it was on course to produce more gold than forecast for its 2025 financial year ended June 30. For the six months to December production would come in…
Mali charges four Barrick Gold employees as talks stall
BARRICK Gold confirmed four employees at its 510,000 to 560,000 ounce a year Loulo-Gounkoto mine in Mali had been charged and detained pending trial. The Canadian gold producer…
Harmony Gold anoints Beyers Nel as CEO, with a twist
HARMONY Gold on Thursday said Beyers Nel would take over as CEO from 2025 continuing the group’s tradition of promoting its chief operating officers to the top job. Nel takes…
Barrick open to “slight skewing” of benefits to end Mali dispute
BARRICK Gold will agree to a “slight skewing” of economic benefits from mining in Mali’s favour as it sought to resolve a tax dispute with the West African nation’s interim…
Cash flush Harmony never better placed to grow offshore
EXECUTIVES at Harmony Gold struggled to recall the last time the company had net cash. “Not in my lifetime,” CEO Peter Steenkamp said in an interview earlier this month.…
ARM chases down chrome revenue as PGMs fade
AFRICAN Rainbow Minerals (ARM) is accelerating plans to move into copper and chrome production after a major correction in platinum group metals (PGM) and lower coal prices drove…