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Harmony Gold Mining Company
Harmony Gold Mining Company (HAR) investor relations material
Harmony Gold Mining Company Q1 2026 TU earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2026 TU earnings summary12 Nov, 2025
Executive summary
Achieved a loss-of-life free quarter, with LTIFR at 4.29, below 5.00 for the second consecutive quarter.
Group gold production decreased by 8% year-over-year to 12,128kg (389,923oz), but remains on track for full-year guidance.
Completed acquisition of MAC Copper, adding immediate copper production and enhancing portfolio resilience.
Strong operational performance at Mponeng and Hidden Valley, with the latter generating R1.7 billion in adjusted free cash flow.
Maintained a strong, flexible balance sheet with net cash increasing to R17.1 billion and liquidity at R26.6 billion.
Financial highlights
Gold revenue rose 20% year-over-year to R21.7 billion, driven by a 34% increase in average gold price received to R1,818,510/kg.
Group all-in sustaining costs (AISC) increased 15% to R1,107,486/kg, but remained below the lower end of FY26 guidance.
Adjusted free cash flows from Mponeng and Moab Khotsong increased by 3% to R2,819 million; Hidden Valley's adjusted free cash flow rose 115% to R1,661 million.
Group capital expenditure rose 31% to R2,873 million, reflecting investment in long-life projects and renewables.
Outlook and guidance
On track to meet FY26 production guidance of 1.4–1.5Moz, AISC between R1,150,000/kg and R1,220,000/kg, and underground grade above 5.80g/t.
Updated production guidance, including CSA mine contribution, to be provided with interim results in early 2026.
Copper production of ~100,000 tonnes per year expected within 3–5 years, pending Eva Copper approval.
Eva Copper FID: What's the timeline and impact?
Debt structure review: H1FY26 guidance details?
How will new copper projects mitigate Moab gap?
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Next Harmony Gold Mining Company earnings date
Q2 202611 Mar, 2026
Harmony Gold Mining Company
Next Harmony Gold Mining Company earnings date
Q2 202611 Mar, 2026
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Frequently asked questions
Harmony Gold Mining Company Limited is a South African gold mining and exploration company. It operates underground and surface mines in South Africa and Papua New Guinea. The company is involved in the full mining value chain from exploration and extraction to processing and refining. The company is headquartered in Randfontein, South Africa, and its shares are listed on the JSE.
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