Harmony reports soaring cash flow and higher output in Q1

  • Reuters
  • Stock Market News
Harmony reports soaring cash flow and higher output in Q1

JOHANNESBURG, Nov 9 (Reuters) - South Africa's Harmony Gold Mining HARJ.J on Monday said free cash flow nearly tripled in the first quarter of 2021 compared with the previous quarter, boosted but increased production and a higher gold price.

Harmony said operating free cash rose to 1.8 billion rand ($118.15 million) during the three months ended September compared to 603 million rand in the previous quarter, driven by a 5.4% increase in the rand/kg price.

Gold output rose 38% to 313,725 ounces compared with 226,632 ounces quarter-on-quarter. ($1 = 15.2344 rand)

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