Harmony Gold’s Meteoric Rise Faces Cost Pressure Test

The surging price of gold has created a powerful tailwind for Harmony Gold Mining, positioning the South African producer among this year’s standout market performers. The company’s shares have delivered staggering returns, appreciating nearly 90% since the beginning of the year. However, this glittering performance masks underlying challenges as operational expenses escalate at an alarming rate. The critical question for investors is whether Harmony can sustain its upward trajectory while navigating these mounting cost pressures.

While gold remains Harmony’s core business, the company is strategically expanding into other metals. The pending acquisition of MAC Copper represents a significant strategic pivot, with the Eva Copper project expected to yield annual production between 55,000 and 60,000 tons of copper starting in 2028. This move into... Read more...