Tag: Peter Steenkamp
Harmony Gold reported a full year loss of R828 million despite soaring gold prices boosting revenue and a weaker exchange rate. The group reported headline earnings per share decrease of 175 per cent and increased its production profit by 9 per cent. Harmony Gold CEO, Peter Steenkamp joins CNBC Africa for more.
Is mining too deep in the COVID-19 crisis? How can it once again become the sunrise industry it wants to be?
Harmony gold has adjusted its full year production down to 1.4 million ounces due to a dismal performance at its Kusasalethu mine which saw a 32 per cent decrease in production. The company has also been named to receive AngloGold’s remaining South African assets. Joining CNBC Africa for more is Peter Steenkamp, CEO of Harmony Gold.
Harmony Gold saw a 17 per cent increase in its gold production which resulted in an R 6.5 billion production profit. The purchase of Moab Khotsong from AngloGold Ashanti and the reopening of Hidden Valley mine in New Guinea generated R1.35 billion of Harmony’s operating cash flow .Although the company sees golden results they have not declared a dividend for two years running. Joining CNBC Africa for more on these results is the CEO of Harmony Peter Steenkamp.
Harmony CEO Peter Steenkamp talks earnings, acquisitions, mining outlook