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Harmony Gold increases half-year gold production, reaffirms annual guidance

Kitco Media
By Vladimir Basov
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(Kitco News) - Harmony Gold (NYSE: HMY), a senior global gold producer, announced today that its total gold production for the six-month period ended 31 December 2022 of financial year 2023 was between 720,000 ounces and 745,000 ounces.

During six-month period ended 31 December 2021 (comparable period), the company produced 718,726 ounces of gold.

Harmony said that despite the ongoing electricity shortages and supply chain disruptions, total gold production increased quarter-on-quarter, adding that this production increase was mainly as a result of improved underground recovered grades.

Importantly, the company noted that its production guidance for the financial year 2023 remains unchanged at 1,400,000 to 1,500,000 ounces of gold and gold equivalents.

Harmony Gold has operations and assets in South Africa and Papua New Guinea (PNG). The company's assets include one open pit mine and several exploration tenements in PNG, as well as 10 underground mines and 1 open pit operation and several surface sources in South Africa.

In addition, Harmony owns 50% of the significant Wafi-Golpu copper-gold project – a tier 1 asset in a joint venture in PNG.

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Vladimir Basov

Vladimir (PhD, MEng in Mining) is a professional mining engineer, scientist and analyst that has more than 20 years of practical in-field and research experience. He is particularly interested in collecting, processing baseline data and writing insightful data-driven mining industry analytics, articles, statistical and research reports.

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