Harmony Gold Reduces Debt as Weak Rand Boosts Cash

  • Gold down 9.9% in dollar terms; up 12% in rand this year
  • Company pays costs in rand, receives revenue in dollars

Harmony Gold Mining Co., which gets about 95 percent of its production from South Africa, repaid 1.1 billion rand ($77 million) of debt, or 27 percent of its total, as a plunging local currency relative to the dollar boosted cash flow.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.