Harmony raises its gold output by 17%
The group, which operates mines in South Africa – including Kusasalethu – and Hidden Valley in Papua New Guinea, said last week in its annual report for the year to the end of June that the group’s gold output had increased 17percent to 1.44million ounces. It said underground grade recovery had improved for the seventh consecutive year by 2percent in 2019 to 5.59 grams per ton.
The group said Steenkamp had received total remuneration of R15.92million, including R8m in salary and benefits and R5.15m in retirement savings and contributions. His total remuneration last year was R14.9m.
Harmony’s financial director, Frank Abbott, earned a total of R10.6m in 2019, up from R10.3m in 2018.
In terms of salaries, the group said it had paid R12.5billion in wages and salaries to its 37000 employees, up from R9.5bn in 2018. In South Africa, it said it had paid R11.5bn in wages and salaries from R9.4bn in 2018. It paid R1.1bn in salaries and wages in Papua New Guinea in the year under review from R132m in 2018.
Source: iol.co.za
