South Africa's Harmony Gold said on Thursday it swung into quarterly profit as production inched up and a weaker rand currency offset declines in the dollar price of bullion.
Harmony Gold swings into quarterly profit
Production in the period rose for a third consecutive quarter by 2 percent to 287,074 ounces, the company said in a statement.
Headline earnings per share - which strips off certain one-off items - reached 17 cents in the three months to December from a loss of 1.20 rand in the previous quarter.
South African mining companies benefit from mostly cheaper costs because they are paid in the rand and earn higher income from sales of their commodities in dollars.
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
Recommended articles
Yahaya Bello: Pressure mounts on EFCC as ex-AGF faults ₦80bn fraud case
PHOTOS: Police arrest, parade masterminds of Abuja-Kaduna train attack
CSOs demand freedom in operation for anti-graft agencies
Anti-graft agency arrests 3 Kano govt officials aiding foreigners secure citizenship
ONSA directs security agencies to enforce Nigeria’s cybercrime law fully
ASUU faction dissociates self from UniAbuja strike, says cabal behind action
Nigeria’s economy to experience significant growth soon – Shettima
Businesses grounded in Maiduguri fish market as traders revolt against leaders
Slain NYSC member's brother petitions House of Reps, insists deceased not cultist
ADVERTISEMENT