Harmony Gold Mining Company Limited (NYSE:HMY, JSE:HAR) filed a Form 6-K on November 9, 2026, reporting its operational update for the three months ended 30 September 2026 (Q1 FY27).

Key Highlights

  • Gold production: Group gold output was 10,661 kg (342,758 oz), down 12% year-on-year, described as in line with guidance and mainly due to an ore gap at Moab Khotsong and a regulatory stoppage at Hidden Valley.
  • Gold revenue: Gold revenue increased 3% to R22.3 billion (US$1.4 billion) from R21.7 billion (US$1.2 billion) in Q1 FY26.
  • All-in sustaining cost: Gold AISC rose 17% to R1,300,073/kg (US$2,484/oz), reported as at the lower end of full-year guidance of R1,300,000/kg to R1,395,000/kg.
  • Copper revenue: CSA mine contributed copper revenue of R1,280 million (US$79 million), with production of 7,077 tonnes at a recovered grade of 3.15% and a C1 cash cost of US$2.72/lb.
  • Balance sheet: Net cash position of R4.2 billion (US$243 million), with total liquidity of R30.2 billion (US$1.8 billion) in cash and undrawn facilities.
  • Convertible bond: The company successfully executed a US$500 million convertible bond offering during the quarter.
  • Eva Copper construction: Overall construction is 15% complete; original project capital guidance range is described as unchanged, with first production targeted toward end of calendar year 2028, pending Referral 2 outcome.

Harmony Gold Q1 FY27 Operational Performance: Gold, Copper, and Capital Update

According to the filing, Harmony Gold Mining Company Limited (NYSE:HMY) reported steady first-quarter results for FY27, with its gold operations and the CSA copper mine both described as on track to meet full-year production, cost, and grade guidance. Gold revenue grew 3% to R22.3 billion (US$1.4 billion), driven primarily by a 17% increase in the average gold price received, which rose to R2,123,588/kg (US$4,057/oz) from R1,818,510/kg (US$3,209/oz) in the comparable period. The company used an average exchange rate of R16.28/US$1 for the quarter, compared with R17.63/US$1 in Q1 FY26.

The filing disclosed that group gold production fell 12% year-on-year to 10,661 kg (342,758 oz), which the company attributed to a planned ore gap at Moab Khotsong and a regulatory stoppage at Hidden Valley that has since been resolved. Underground recovered grade declined 6% to 5.53g/t from 5.91g/t, with Moab Khotsong recording 5.77g/t, while Mponeng delivered 11.55g/t, a 10% increase year-on-year. Production at Tshepong North increased 23% to 1,020 kg (32,794 oz). The company noted that gold AISC of R1,300,073/kg (US$2,484/oz) represented a 17% year-on-year increase and sat at the lower end of its stated guidance range.

On the copper side, the filing reported CSA mine produced 7,077 tonnes at a C1 cash cost of US$2.72/lb and an average copper price received of US$6.44/lb. The company noted the C1 cash cost is above full-year guidance but "aligned to plan," expressing confidence in meeting full-year guidance as mining grades improve. Regarding safety, the filing disclosed a lost-time injury frequency rate (LTIFR) of 5.04, and noted the loss of three employees during the quarter. The company also reported a water recycling rate of 79% against its FY27 target of 50%. The filing stated that the financial information presented has not been reviewed or audited by the company's external auditors.

What Was Disclosed

Harmony Gold filed a quarterly operational update for Q1 FY27 covering gold and copper production, costs, revenue, balance sheet position, safety metrics, and progress on strategic growth projects including Eva Copper and the CSA ventilation project.