Harmony Gold Mining Company Limited filed its annual report on Form 20-F with the SEC on 30 October 2026, covering the fiscal year ended 30 June 2026, and including a restatement of consolidated financial statements for the fiscal years ended 30 June 2025 and 30 June 2024.

Key Highlights

  • Restatement scope: Consolidated financial statements for fiscal years ended 30 June 2025 and 30 June 2024 have been restated to correct errors identified by management.
  • First error: Misstated alignment in algorithm parameters in the mine planning and scheduling programme used at the Tshepong North, Tshepong South and Doornkop operations, affecting unit-of-production depreciation and related deferred taxation calculations.
  • Second error: Incorrect timing of recognition of payroll provisions and accruals.
  • Material weaknesses: Management identified four material weaknesses in internal control over financial reporting, concluding that such controls were not effective as of 30 June 2026.
  • Disclosure controls: The company disclosed that its disclosure controls and procedures were likewise not effective as of 30 June 2026.
  • Shares outstanding: 636,798,966 ordinary shares, with no par value per share, were outstanding at the close of the period covered by the annual report.
  • Accounting standard: Financial statements were prepared under International Financial Reporting Standards as issued by the International Accounting Standards Board.

Harmony Gold Restates Two Prior Years, Discloses Four Internal Control Failures

According to the filing, Harmony Gold Mining Company Limited (NYSE:HMY), incorporated in the Republic of South Africa and headquartered at Randfontein Office Park, filed its Form 20-F annual report on 30 October 2026 for the fiscal year ended 30 June 2026. The report contains an explanatory note disclosing that consolidated financial statements for the fiscal years ended 30 June 2025 and 30 June 2024, previously filed with the SEC on 31 October 2025 and 31 October 2024 respectively, have been restated to correct two identified errors.

The first error, as described in the filing, involved "misstated alignment in algorithm parameters in the mine planning and scheduling programme used at the Tshepong North, Tshepong South and Doornkop operations," which affected information used in calculating unit-of-production depreciation and related deferred taxation. The second error concerned "the timing of recognition of payroll provisions and accruals." The filing states that the restatement affected the group balance sheet, group income statement, group statement of comprehensive income, and group statement of changes in shareholders' equity for both restated periods, while the group cash flow statement was not impacted, though the note reconciling cash generated by operations was updated to reflect restated amounts.

The company disclosed that, as a result of the errors and related restatement, management identified a material weakness in internal control over financial reporting. In addition, management identified three other material weaknesses, bringing the total to four. The filing states that "management has concluded that the Company's internal control over financial reporting was not effective as of 30 June 2026 and that its disclosure controls and procedures were likewise not effective as of 30 June 2026." The filing further notes that management has developed remediation plans to address each of the identified material weaknesses. Readers are directed to Note 38 and Item 15 of the annual report for further detail on the errors, the restatement, and the remediation measures implemented or being implemented.

What Was Disclosed

Harmony Gold filed a Form 20-F annual report for the fiscal year ended 30 June 2026, restating financial statements for fiscal years 2025 and 2024 due to two identified errors, and disclosing four material weaknesses in internal control over financial reporting as of 30 June 2026.