v3.25.3
Leases (Tables)
12 Months Ended
Jun. 30, 2025
Disclosure of leases [Abstract]  
Disclosure of quantitative information about right-of-use assets The movement in the right-of-use assets is as follows:
SA Rand
Figures in million
2025
2024
Balance at beginning of year
569
553
Additions
290
270
Modifications
11
15
Depreciation
(258)
(248)
Terminations
(77)
(5)
Translation
(30)
(16)
Balance at end of year
505
569
Disclosure of quantitative information about leases for lessee The movement in the lease liabilities is as follows:
SA Rand
Figures in million
2025
2024
Balance at beginning of year
506
526
Additions
250
249
Modifications
11
15
Interest expense on lease liabilities
28
32
Lease payments made
(319)
(278)
Terminations
(10)
(6)
Translation
(30)
(32)
Balance at end of year
436
506
Current portion of lease liabilities
206
260
Non-current portion of lease liabilities
230
246
Disclosure Of Maturity Analysis of Capitalised Leases The maturity of the group's undiscounted lease payments is as follows:
SA Rand
Figures in million
2025
2024
Less than and including one year
208
270
Between one and five years
168
182
Five years and more
146
131
Total
522
583
Disclosure of qualitative information about leases for lessee Income Statement The amounts included in the income statement relating to leases:
SA Rand
Figures in million
2025
2024
Depreciation of right-of-use assets (a)
258
248
Interest expense on lease liabilities (b)
28
32
Short-term leases expensed (c)
310
348
Leases of low value assets expensed (c)
49
17
Variable lease payments expensed (c) & (d)
2 632
2 030
(a)Included in depreciation and amortisation.
(b)Included in finance costs.
(c)Included in production costs and corporate, administration and other expenditure.
(d)These payments relate mostly to mining and drilling contracts as well as contracts for transportation of marginal gold ore.
Variable lease payments comprise 80% of the total lease payments made during the period. The majority of the variable
lease payments made relate to the contracting of specialists for mining operations at Harmony's open-pit mines and are
determined on a per tonne or square metre basis.
Disclosure of lease payments The total cash outflows for leases are:
SA Rand
Figures in million
2025
2024
Principal and interest payments made for lease liabilities
319
278
Short-term lease payments
310
348
Lease payments of low value assets leased
49
17
Variable lease payments
2 632
2 030
Total cash outflows for leases
3 310
2 673
During 2022, Harmony reached financial close on three 15-year term power purchase agreements for the procurement of
electricity from 30 MW photovoltaic generation facilities. These agreements constitute variable lease contracts that Harmony is
committed to. The variable lease payments from these contracts are determined with reference to the quantity of megawatt
hours (MWh) generated by the facilities. The commercial operating date for the three plants was achieved during August 2023.
The variable lease payments incurred as it relates to these power purchase agreements amounted to R78 million (2024: R54
million).