‘No­table’ rise in out­put ex­pected

The Star Early Edition - - COMPANIES - – Busi­ness re­porter, go to www.bus­rep.co.za

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.

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