Harmony Gold Mining Company Limited (NYSE:HMY) H1 2023 Earnings Conference Call March 1, 2023 3:00 AM ET

Company Participants

Beyers Nel – Group Chief Operating Officer

Boipelo Lekubo – Financial Director

Jared Coetzer – Head-Investor Relations

Peter Steenkamp – Chief Executive Officer and Executive Director

Conference Call Participants

Arnold Van Graan – Nedbank

Leroy Mnguni – HSBC

Mark du Toit – Oystercatcher Investments

Adrian Hammond – SBG Securities

Jared Hoover – RMB Morgan Stanley

Peter Steenkamp

Good morning. My name is Peter Steenkamp, I am the CEO of Harmony. And it's a pleasure to be here today presenting the Half Year Results for the Six Months ended the 31st of December 2022. Okay. I'll just – please take note of our safe harbor statement. I would like to start with a brief introduction about Harmony and where we operate. Harmony is a 1.4 million ounce to 1.5 million ounce specialist gold producer with a growing copper footprint. We are South Africa's largest gold producer by volume with a diversified portfolio of operating assets and projects around South Africa, Papua New Guinea and Australia. These include 9 underground mines, 2 open pit mines and various tailings retreatment operations. Our projects present a substantial opportunity as we continue on our growth journey.

Various early-stage exploration advanced stage projects of a near term conversion potential, as seen with a tier 1 Wafi-Golpu project and our recent Eva Copper project acquisition in Australia. Harmony has been operating as an emerging market gold mining specialist for over 72 years. We therefore understand the importance of sustainable mining. With close to 14 million ounces in reserves, Harmony's operating model ensures the minerals we extract are converted into shared value for all our stakeholders. To ensure continued positive returns, we directed capital, major capital towards lower risk and higher-margins assets and projects. We have grouped our operations into four business areas, which are our optimized South African underground portfolio. These mines are optimized for cash generation, which will allow Harmony to pursue and fund key projects.

Our high-grade South African underground assets, Moab Khotsong and Mponeng, and our high-margin South African surface and surface retreatment operations and the growing international portfolio, which includes Hidden Valley, and various other copper gold projects in Papua New Guinea, and the recently Eva Copper in Australia. There are four strategic pillars of responsible stewardship, operational excellence, cash certainty and effective capital allocation, Harmony will continue to creating shared value for all for years to come. Harmony has its roots in deep-level South African gold mining. However, our acquisition of Wafi-Golpu project in 2004 introduced copper to the Harmony story. The value of gold is well documented, dating back over 5,000 years as a store of value and form of currency.