Harmony Gold Mining Crushes Earnings Expectations with Record Revenue and Dividend

Harmony Gold Mining, a South African precious metals producer, reported record financial results for the year ended June 30, 2026. The company's revenue increased by 34% to ZAR99.2 billion, driven by higher gold prices and operating performance. Harmony produced 1.43 million ounces of gold and 18,200 tonnes of copper, meeting its guidance range for both metals.

The company's average gold price rose 35% to ZAR2.1 million per kilogram, while its all-in sustaining costs increased by 13% to approximately ZAR1.2 million per kilogram. This resulted in an all-in sustaining cost margin of 42%, compared to 31% in the previous year.

Harmony's financial director, Boipelo Lekubo, stated that operating costs remained controlled, with only a 7% increase excluding CSA and royalties. The company also reported a record dividend of ZAR12.80 per share, lifting its full-year dividend to ZAR8.6 billion.