Harmony Gold, South Africa’s biggest gold producer, reported a 26% jump in annual profit on Thursday, primarily boosted by record-high prices for bullion.<\/p>\n\n\n\n
The company posted headline earnings per share of R23.37 in the year ended June 30, up from R18.52 the previous year.<\/p>\n\n\n\n
Harmony Gold said a 27% increase in average gold prices, along with improved grades at its South African mines, helped offset a 5% drop in production during the period.<\/p>\n\n\n\n
Gold production declined to 1.48 million ounces in the 2025 financial year, down from 1.56 million ounces a year earlier, due to bad weather and safety-related stoppages.<\/p>\n\n\n\n
The company declared a dividend of R1.55 per share, up from 94 cents last year.<\/p>\n\n\n\n
Harmony Gold has also recently received regulatory approval to acquire Australia-focused MAC Copper for US$1.3 billion (about R18 billion) via its Australian subsidiary.\u00a0<\/p>\n\n\n\n
MAC Copper has only one asset in the CSA Copper Mine, which is 700 km from Sydney. It produced 41kt of copper in the 2024 calendar year.\u00a0<\/p>\n\n\n\n
The move is part of Harmony Gold’s attempt to diversify its portfolio.\u00a0The MAC Copper acquisition is expected to conclude in October 2025<\/p>\n\n\n\n
(Reporting by Nelson Banya; Editing by Clarence Fernandez and Sherry Jacob-Phillips)<\/p>\n\n\n\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
Harmony Gold has seen a strong rise in earnings amid record-high prices for gold. <\/p>\n","protected":false},"author":7,"featured_media":815225,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872],"tags":[21850,23402],"class_list":["post-836201","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-harmony-gold","tag-mac-cooper"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/836201","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=836201"}],"version-history":[{"count":2,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/836201\/revisions"}],"predecessor-version":[{"id":836205,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/836201\/revisions\/836205"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/815225"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=836201"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=836201"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=836201"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}