Harmony strikes Gold

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.

The company posted headline earnings per share of 23.37 rand ($1.33) in the year ended June 30, up from 18.52 rand the previous year.

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.

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.

The company declared a dividend of 1.55 rand per share, up from 0.94 rand apiece last year.

• Reporting by Nelson Banya