Harmony Gold Gets Revenue Boost From Higher Gold Prices

By Adam Whittaker

Harmony Gold said it was on track to meet its full-year production and cost guidance as higher gold prices caused revenue to jump.

The mining company said Monday that revenue grew 34% to $4.02 billion in the nine months to March 31. Its average gold price increased nearly 40% on the year prior to $3,691 a troy ounce.

The higher prices mean its balance sheet has flipped to a net cash position of $78 million from a net debt of $335 million at the end of last year, it said.

Harmony said cost inflation remains under control and said the impact of higher oil and diesel prices has been minimal. Fuel costs globally have surged as the conflict in the Middle East triggered an energy shock.

The miner said that it was on track to meet its full-year guidance.

Write to Adam Whittaker at [e-mail]

(END) Dow Jones Newswires

05-18-26 0927ET