Key Points
- Harmony Gold records R6bn in taxes and royalties.
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The company invests in renewable energy and job creation.
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Motsepe pledges to maintain transparency and sustainability.
Harmony Gold chairperson Dr Patrice Motsepe says the company remains focused on creating lasting socioeconomic impact through jobs, taxes, and sustainable operations across South Africa.
In its financial results for the year ending June 2025, Harmony reported contributing about R6 billion in taxes and royalties while paying R20.2 billion in salaries and employee benefits.
The company employs more than 34 000 people and works with about 12 700 contractors, bringing its total workforce to over 47 000.
Motsepe said the company’s success depends on good governance, transparency, and accountability.
“We are deeply committed to maintaining the highest standards in every area of our business,” he said.
Strong operational performance
The 2025 financial year marked Harmony’s seventy-fifth anniversary and its tenth consecutive year of meeting production targets. The company’s market value rose to R155 billion from R106 billion the previous year.
Gold production reached 1.48 million ounces, with an underground grade of 6.27 grams per ton and all-in sustaining costs of 1 806 dollars per ounce.
Harmony said strong gold prices helped it generate record free cash flow of R11.1 billion, while headline earnings grew by more than 26 percent.
Harmony paid a total dividend of R2.4 billion for the year and closed with liquidity of R20.9 billion, providing room for investment and stable payouts to shareholders.
Motsepe said the company’s major assets, including Mponeng and Moab Khotsong, continued to deliver strong returns. Harmony’s surface operations such as Mine Waste Solutions and Kalgold also contributed to cash generation.
Investment in people and sustainability
Harmony invested R271 million in social and community development during the year, focusing on local suppliers and small businesses. About 82 percent of its R39 billion procurement spending went to empowered entities.
The company also spent R859 million on training and skills development. Employees participating in the share option scheme received dividend payments of R42 million.
Harmony is moving forward with plans to cut its carbon footprint. Nearly 600 megawatts of renewable energy projects are expected to come online by 2028, including a 100 megawatt solar plant now being built at Moab Khotsong.
Motsepe said sustainability remains central to Harmony’s strategy. “It underpins our long-term competitiveness and strengthens our role in South Africa’s energy transition,” he said.
Future projects and outlook
Harmony is investing in projects that extend mine life and increase reserves. The Moab Khotsong extension will add about 2.7 million ounces to its reserves and extend its life by 20 years, with completion expected in 2033.
The Mponeng extension adds another 2.3 million ounces and will maintain steady annual output of 250 000 ounces.
The expansion of Mine Waste Solutions has pushed its operational life to more than 14 years, with annual production expected to remain around 110 000 ounces.
Harmony said it continues to prepare land affected by mining for new economic use after closure. The company is also monitoring proposed changes to South Africa’s mining laws under the new Mineral Resources Development Amendment Bill to align with future regulations.
Global analysts expect gold prices to climb further in 2026, possibly surpassing 5 000 dollars per ounce.
Rising trade tensions, lower interest rates, and renewed investor demand for gold as a safe asset are seen as key drivers.
Motsepe said Harmony will continue building resilience through innovation, local investment, and responsible mining.
