Arnold Van Graan's questions to HARMONY GOLD MINING CO (HMY) leadership • H1 2023
Question
Arnold Van Graan of Nedbank inquired about the drivers of grade variability at the Moab and Mponeng mines and asked for an outlook on a final dividend, assuming stable gold prices.
Answer
Group COO Beyers Nel explained that grade variability is special in nature, driven by specific high-grade areas and managed through mining practices and seismic response control, expressing confidence in maintaining grades. Financial Director Boipelo Lekubo stated that while the dividend policy is clear, the board's discretion and the need to maintain a strong balance sheet after the Eva Copper acquisition led to no interim dividend, and she could not guide on a final dividend.