‘Notable’ rise in output expected

HARMONY Gold said yesterday that it expected to see a “notable” increase in gold production for the first half of this year. The gold producer said gold production for the six months to December was about 8 percent higher than the second half of last year. Harmony noted the grade remained above 5g per ton. The company said last October that its production in the quarter to September was about 10percent higher than the April to June quarter. “Harmony continued to benefit from its currency and gold hedge, which – in addition to higher production – aided strong cash flows,” the company said. Harmony shares declined 0.35 percent yesterday to R33.75.