Harmony Gold Mining Company Limited (HMY) Half Year 2023 Earnings Call Transcript

Company and Industry Overview * Company: Harmony Gold Mining Company Limited (NYSE:HMY) * Industry: Gold mining and production * Focus: Producing gold, silver, and uranium; expanding copper footprint * Location: South Africa, Papua New Guinea, Australia Key Points 1. Financial Performance * Revenue: Increased by 35% to ZAR 31 billion * EBITDA: Increased by 114% to ZAR 17 billion * Headline earnings per share: Increased by 226% to ZAR 956 per share * Operating free cash flow: Increased by 265% to ZAR 7.1 billion * All-in sustaining cost: Improved by 12% to $1,403 per ounce * Dividend: Record interim dividend of ZAR 1.47 per share 2. Operational Performance * Safety: Lost time injury frequency rate improved to 5.19 per million ounces worked * Production: Increased by 14% to 36 tonnes of gold or 832,000 ounces * Grade: Underground recovered grade increased by 11% to 6.29 grams per tonne * Cost: All-in sustaining cost improved by 5% to 843,000 rand per kilogram 3. Projects and Growth * Mponeng Life of Mine Extension: Approved and expected to extend mine life to 20 years * Eva Copper: Feasibility studies being updated; expected to start production in 2025 * Wafi-Golpu: Negotiations ongoing for permit approval * Other Projects: Moab Khotsong extension, Mine Waste Solution, TSF Extension, and Hidden Valley extension progressing well 4. Sustainability and ESG * Circular Economy: Largest gold tailings re-treatment business globally * Energy Efficiency: Renewable energy programs and green energy mix * Water Stewardship: Prioritizing recycling and efficient use of water * Community Engagement: Benefit sharing and social impact 5. Future Outlook * Production: Expected to reach the upper end of production guidance and the lower end of cost guidance * Cost: All-in sustaining cost expected to remain low * Dividends: Expected to continue paying dividends in line with policy * Growth: Focus on organic growth and potential acquisitions