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Harmony hits 1.1Moz target; hedges 20% of production

JSE-listed Harmony Gold met its yearly production guidance of 1.1-million ounces in the financial year ended June 30 and has entered into short-term gold forward sale contracts for about 20% of its production. The gold miner on Monday said it had continued to differentiate itself through quality grade management in the financial year under review and increased underground grade by 6% to 5.02 g/t – the fourth consecutive year of higher recovered underground grades.