JOHANNESBURG, Feb 28 (Reuters) - Harmony Gold (HARJ.J) , opens new tab, South Africa's biggest gold miner by volume, says it will pay a record interim dividend after a jump in output of the precious metal and profits in the six months through December.

The Johannesburg-based gold miner on Wednesday declared an interim payout of 147 rand cents per share, increasing returns to investors as higher gold price, improved mine grades and higher output helped to lower costs and boosted revenues by 35%. Harmony said its net profit in the first-half surged 220% to almost 6 billion rand.

Harmony is among South Africa's few remaining gold miners squeezing profits from some of the world's most costly, ageing and deepest gold mines.

Gold output jumped 14% to about 832,000 ounces and production for the year is forecast at about 1.48 million ounces. Output was buoyed by a 30% increase in production from its Mponeng mine. Harmony said it also approved a plan to extend the life of Mponeng, the world's deepest gold mine, by 20 years from seven currently.

Like most of its South African peers, Harmony is shifting focus away from home country to gold and copper projects in Papua New Guinea, where it already owns a producing operation, and Australia.

https://www.reuters.com/markets/commodities/south-africas-top-gold-miner-boosts-dividend-after-profit-jumps-2024-02-28/