Harmony Gold Mulls Repaying Debt as Output Rises, Costs Fall
- South African gold miner reports loss on currency movement
- CEO Graham Briggs says producer on track to meet 2016 targets
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Harmony Gold Mining Co. is aiming to repay its debt in the next two years after production rose and costs declined, putting the South African miner on track to meet its 2016 financial targets.
Gold production increased 10 percent to 8,752 kilograms (281,385 ounces) in the quarter ended Sept. 30, while all-in sustaining costs dropped 3 percent to 466,061 rand ($33,402) a kilogram, it said in a statement Thursday. In dollars, costs fell 10 percent to $1,115 an ounce.