HMY · Harmony Gold Mining Company Limited

Harmony Gold Mining Company Limited issued a pre-year-end update for the fiscal year ending June 30, 2026, highlighting another year of consistent execution and robust cash generation. Gold production is expected to be between 1.4 and 1.5 million ounces, marking the 11th consecutive year of meeting guidance. Underground recovered grades are approximately 5.80 g/t, and all-in sustaining costs remain within guidance, with capital expenditure slightly below plan. The company's CSA copper mine in Australia is also performing well, with production expected at the upper end of the 17,500–18,500 tonne guidance and cash costs below guidance, demonstrating the value of acquiring a high-grade copper asset. The Eva Copper project in Queensland continues to advance, with long-lead equipment secured and major contracts awarded, though land-clearing activities were paused after identifying a protected species. Harmony is working constructively with regulators to balance environmental stewardship with project momentum. The company returned a record R4.4 billion to shareholders through dividends over the past 12 months, supported by strong operating cash flow and a disciplined capital allocation framework. An MSCI ESG rating upgrade to 'A' underscores progress in embedding sustainable practices. Management emphasized safety improvements and a strengthened gold-copper portfolio, positioning the company for through-the-cycle durability. The full FY26 results and future strategy will be presented on August 27, 2026.