Jared Hoover's questions to HARMONY GOLD MINING CO (HMY) leadership • H1 2023
Question
Jared Hoover of RMB Morgan Stanley asked about the implications of the recent organizational restructure, the M&A push into Australia, and whether rising electricity costs could shorten South African mine lives. He also questioned the production guidance for H2 and inquired about any foreign exchange challenges in Papua New Guinea.
Answer
CEO Peter Steenkamp confirmed the restructure supports global operations and an M&A focus from Australia, and acknowledged that high energy costs could impact mine lives. He also affirmed the company would stick to its annual guidance despite a strong H1. Group COO Beyers Nel provided a positive outlook for the Target 1 and Hidden Valley assets in H2. Financial Director Boipelo Lekubo stated there have been no issues extracting cash from Papua New Guinea.