Harmony Gold Mining Exceeds Expectations in FY2026 with Record Results
Harmony Gold Mining reported record results for FY2026, meeting its gold production guidance for the 11th consecutive year. The company produced 1.43 million ounces of gold and 18,200 tonnes of copper, with both figures at the upper end of their guidance ranges.
The firm's average realized gold price increased by 46% to $3,800 per ounce, while U.S.-dollar-denominated all-in sustaining costs rose by 22% to approximately $2,200 per ounce. Despite this higher cost base, Harmony said its all-in sustaining cost margin expanded to 42% from 31% in the prior year.
The company plans to allocate about 20% of capital spending toward sustaining operations and protecting its production base, 40% toward brownfield projects intended to improve portfolio quality and extend mine lives, and the remaining 40% toward the greenfield Eva Copper project. Harmony expects Australasia to account for about 30% of group production over the next decade.