v3.26.3
Leases (Tables)
12 Months Ended
Jun. 30, 2026
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
2026
2025
Balance at beginning of year
505
569
Additions
393
290
Acquired through MAC Copper acquisition (refer to note 13)
277
—
Modifications
—
11
Depreciation
(312)
(258)
Terminations
(177)
(77)
Translation
(40)
(30)
Balance at end of year
646
505
Disclosure of quantitative information about leases for lessee The movement in the lease liabilities is as follows:
SA Rand
Figures in million
2026
2025
Balance at beginning of year
436
506
Additions
392
250
Modifications
—
11
Acquired through MAC Copper acquisition (refer to note 13)
277
—
Interest expense on lease liabilities
51
28
Lease payments made
(465)
(319)
Terminations
—
(10)
Translation
(25)
(30)
Balance at end of year
666
436
Current portion of lease liabilities
319
206
Non-current portion of lease liabilities
347
230
Disclosure Of Maturity Analysis of Capitalised Leases The maturity of the group's undiscounted lease payments is as follows:
SA Rand
Figures in million
2026
2025
Less than and including one year
334
208
Between one and five years
311
168
Five years and more
115
146
Total
760
522
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
2026
2025
Depreciation of right-of-use assets (a)
312
258
Interest expense on lease liabilities (b)
51
28
Short-term leases expensed (c)
406
310
Leases of low value assets expensed (c)
181
49
Variable lease payments expensed (c),(d)
3 564
2 632
(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 77% 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 relating to leases are:
SA Rand
Figures in million
2026
2025
Principal and interest payments made for lease liabilities
465
319
Short-term lease payments
406
310
Lease payments of low value assets
181
49
Variable lease payments
3 564
2 632
Total cash outflows for leases
4 616
3 310
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 R77 million (2025: R78 million).