https://www.engineeringnews.co.za

Harmony lowers 2022 full-year guidance amid challenges at Hidden Valley

26th January 2022

By: Marleny Arnoldi

Online News Editor

     

Font size: - +

JSE-listed Harmony Gold says its South Africa gold production for the six months ended December 31, remained steady at 718 726 oz, compared with the 708 310 oz produced in the preceding six months ended June 30, 2021.

The Hidden Vallley mine, in Papua New Guinea, however, reported a 26% decrease in production, at 60 153 oz.

This was a result of geotechnical issues that prevented the effective mining of Stage 6 of the openpit, resulting in lower-grade stockpiles being processed. The company says Covid-19 restrictions and rostering in the country also impacted on production.

Additionally, more than 6 km of overland conveyor belt was damaged early in January this year, which will have a significant impact on Hidden Valley’s production for the remainder of the financial year.

The mine’s production guidance for the 2022 financial year has, therefore, been revised down from between 153 000 oz and 161 000 oz to between 115 000 oz and 117 000 oz.

The group's production has also been lowered from an initially guided 1.5-million to 1.6-million ounces to between 1.48-million and 1.56-million ounces.

Harmony will release its interim results on or about February 28.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Airshrink - CiP
Airshrink - CiP

At Airshrink - CiP, we surpass customer expectations with innovative MV and LV cable accessories, including heat shrink joints, terminations,...

VISIT SHOWROOM 
Bell Equipment
Bell Equipment

As one of South Africa's leading manufacturers, Bell Equipment distributes and exports its wide range of heavy equipment globally to mining,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.07 0.951s - 140pq - 2rq
Subscribe Now