Harmony Gold delivered record financial results for the full year 2026, driven by a 35% surge in realized gold prices to $3,811/oz. Despite a slight 3% decline in gold production to 1.43 million ounces, the company's diversification into copper gained momentum with the successful integration of the CSA mine. The board declared a record final dividend of 750 SA cents, bringing the total FY 2026 dividend to $503 million, supported by robust adjusted free cash flow expansion.
Key Highlights
- Adjusted free cash flow surged 54% to $1.02 billion, with margins expanding from 16% to 18%.
- Copper production from the CSA mine reached 18,207 tonnes for the eight-month post-acquisition period, hitting the upper end of guidance with a high recovered grade of 3.75%.
- Attributable gold Mineral Reserves increased to 27.4Moz while copper reserves grew 70.7% to 4.0Mt, driven by life-of-mine extensions at Mponeng and Tshepong North.