Harmony Gold net profit plunges, operational cash soars

The net profit of Harmony Gold plunged in the six months to December 31, dropping from R897-million for the corresponding period of last year to R75-million. However, production soared by 34% and operations generated R1.1-billion in free cash flow on the inclusion of the acquired Moab Khotsong gold mine in South Africa and the return to full production of the Hidden Valley gold mine in Papua New Guinea (PNG).