Harmony Gold withdraws annual production guidance

From May 1, mines have been allowed to start operations with 50% of their workforce.
Image: Supplied

Harmony Gold Mining Company Ltd said on Wednesday it has withdrawn its annual production guidance for the financial year as it does not have clarity on the ramp-up of production from its mines.

Mining operations were halted as South Africa went into a five-week lockdown to curb the spread of the coronavirus.

From May 1, mines have been allowed to start operations with 50% of their workforce.

“Due to the impact of COVID-19 and the continued uncertainty as to when our mines will be allowed to return to full production, we have decided to withdraw our annual production guidance,” Harmony Gold said in a statement.

It had earlier forecast production of 1.4 million ounces of gold for the fiscal year ending June 30.

It had produced 990,681 ounces in the nine months that ended March 31, the company said.

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