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Harmony ups output, cuts costs, improves margins

By:  
Creamer Media Editor
 
GOLD
Gold-mining company Harmony produced 14% more gold in the three months to September 30, when it cut unit costs by 8% and improved the margins of profit at its South African operations. Excellent operational performance was responsible for the margin improvement and last month’s acquisition of the Moab Khotsong gold mine from AngloGold Ashanti for $300-million is poised to boost the free cash flows of the company headed by CEO Peter Steenkamp.
 
 
 
 
 

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