Harmony Gold says higher grades boost Q2 production

Harmony Gold said on Wednesday improved metal grades at its underground mines during the second quarter helped it meet production targets and offset the impact of ongoing power cuts in South Africa and global supply chain disruptions.

The South African miner, which also has operations in Papua New Guinea, expects to report gold production between 720,000 ounces and 745,000 ounces for the six months to December 2022. Harmony said it was on track to meet its annual production guidance between 1.4 and 1.5 million ounces in the full year to June 2023.

The company will release its financial results for the half year on March 1.

(By Nelson Banya; Editing by Muralikumar Anantharaman)