Harmony Gold's Earnings Rise on Higher Gold Prices
By Adam Whittaker
Harmony Gold Mining posted a rise in fiscal 2026 earnings as higher gold prices offset a decline in production.
The South African gold miner said Thursday that headline earnings per share for the year ended June 30 rose 87% to 258 cents. Pretax profit jumped to $2.27 billion from $1.17 billion a year earlier.
Gold prices have remained high, fueled by central-bank buying and safe-haven demand. Traders are balancing a war in Iran which could cause the U.S. Federal Reserve to raise interest rates in an effort to keep a lid on inflation as oil prices surge, with concerns over the sustainability of U.S. debt, which is driving a flight to safer assets. Higher interest rates weigh on non-yielding assets like gold.
Harmony's average gold price in fiscal 2026 rose 35% to $3,811 a ounce, which more than offset a 3% fall in group gold production of 44,464 kilograms.
For the year ahead, Harmony maintained its full-year group production guidance of 1.4 million to 1.5 million ounces of gold and gold equivalents.
Harmony declared a final dividend of 47 cents a share.
Write to Adam Whittaker at adam.whittaker@wsj.com
(END) Dow Jones Newswires
August 27, 2026 01:51 ET (05:51 GMT)
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