Rapid Moab integration boosts Harmony Gold’s cash flow

The rapid integration of the Moab Khotsong gold mine into the Harmony Gold group has boosted the company’s overall underground gold grade, lifted production, driven down all-in sustaining unit costs and doubled free cash flow. Harmony acquired the deep-level Moab Khotsong mine from AngloGold Ashanti for $300-million on March 1, with the acquisition including the Great Noligwa mine, which presents a opportunity for Harmony to mine shaft pillars, and the Zaaiplaats resource.