Harmony Gold Mining Company Limited (HMY) Q4 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good. Can we start? Good morning. My name is Peter Steenkamp. I'm the CEO of Harmony. And it's a pleasure to be here today presenting the full year results for the financial year that ended on the 30th of June, 2024. Please note of the safe harbor statement. And allow me to start with a short update on Harmony and our strategy. Harmony is a gold mining specialist with a growing international copper footprint. We also produce small amounts of silver and uranium, and we have over 74 years of gold mining experience in South Africa, and we have been operating for over two decades in Papua New Guinea. Our mineral resources and mineral reserve declaration of close to 137 million ounces and 40 million ounces of gold and gold equivalents respectively positions Harmony as a significant global mining company. Currently, our diversified portfolio of operating assets include nine underground mines, two open pit mines, and a significant tailings retreatment business. Service retreatment is a great ESG story with the potential for another 100 years of hydro mining across South Africa. And at present, over 90% of our current production comes from South African gold. Now, based on the current planning parameters, we expect approximately 20% of future production to be copper within the next 10 years. Now, copper production will be from our Tier 1 Wafi Gold Proof Project in Papua New Guinea and the EVA Copper Project in Australia. These copper projects will be transformational, moving Harmony further down the global cost curve and diversify it into a future-facing metal. Our excellent FY24 results perfectly demonstrate the benefits and the value we have created for all our stakeholders. This is what we call mining with purpose. Australia is aimed at producing safe, profitable ounces a...