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Integrated report 2014

How we create value

Our business model and value chain

Harmony creates value through more channels than just monetary spend. We continue to help improve education, build infrastructure, provide healthcare, stimulate local economies and rehabilitate the environment. Examples of this work can be found throughout this report.

HARMONY’S PROCESS

  • LOCATE AND IDENTIFY EXPLORATION TARGETS

    Obtain geological information

  • VALUATION STUDIES

    Feasibility studies to determine economic viability of ore bodies

  • ESTABLISH INFRASTRUCTURE AND BUILD MINES

    Obtain financing and create infrastructure to access mineral resources

  • MINING OPERATIONS

    Extraction of mineral reserves

  • MARKETING AND BENEFICIATION

    Extracting the gold from the ore and refining

  • DIVESTMENT AND CLOSURE

    Mine closure and land rehabilitation

WE INVESTED

  • 1.17Moz RESERVES
  • 34 746 PEOPLE
  • 2 798GWh POWER
  • R2 986m CAPITAL EXPENDITURE (INCLUDING EXPLORATION)
  • R11 888m PRODUCTION COSTS

VALUE CREATED

GENERATED:

  • R15 682m
    Revenue
  • R3 794m
    Production profit

PRODUCED:

  • 1.17Moz Gold

  • 974 846oz Silver

DISTRIBUTED

  • WAGES AND SALARIES PAID
    R5 785 million (South Africa)
    R497 million (Papua New Guinea)
  • COMMUNITY AND LOCAL ECONOMIC DEVELOPMENT
    R189 million (South Africa)1
    R5 million (Papua New Guinea)
  • TAX AND ROYALTIES
    R281 million (South Africa)
    R32 million (Papua New Guinea)
  • CAPITAL EXPENDITURE AND EXPLORATION
    R2 293 million (South Africa)1
    R587 million (Papua New Guinea)
  • ELECTRICITY SPEND
    R1 753 million (South Africa)
    R40 million (Papua New Guinea)
  • CONSUMABLES
    R3 464 million (South Africa)
    R606 million (Papua New Guinea)
  • REHABILITATION
    R53 million (South Africa)
    R0 million (Papua New Guinea)

  1. 1 Capital of R106 million was spent in South Africa on upgrading hostel accommodation. In this table we included the figure in communities and local economic development and excluded same from capital

HARMONY’S VALUES

Our values are at the core of all we do – they are part of our everyday actions and are built into the design of our business.

  • SAFETY

    No matter the circumstances, safety is our main priority

  • ACCOUNTABLE

    We are all accountable for delivering on our commitments

  • ACHIEVEMENT

    Achievement is core to our success

  • CONNECTED

    We are all connected as one team

  • HONESTY

    We uphold honesty in all our business dealings and communicate openly with stakeholders

 

Important note

For printing purposes only, Harmony’s annual financial statements are presented in a seperate document, the Financial Report 2014. This document is also available in the download manager.