Harmony Gold Mining Eyes Copper Growth After Record FY2026 Results - TradingView

AI desk brief

Harmony Gold posted record FY2026 results, with gold production of 1.43Moz and copper output of 18,200t both at the top end of guidance. Average realized gold price jumped 46% to $3,800/oz, helping AISC margin expand to 42% even as dollar AISC rose to about $2,200/oz; management also raised copper reserve/resource metrics and outlined a stronger growth pipeline at CSA and Eva Copper.

For FY2027, Harmony guided gold production to 1.3Moz-1.4Moz and gold AISC to about $2,300-$2,465/oz, while CSA copper production is seen at 28,000t-30,000t with C1 costs of $2.55-$2.65/lb. Capital spending is set to step up materially, including $650m-$780m for Eva Copper, which is targeting first production by end-2028 and could add about 60,000t of copper and 19,000oz of gold annually.