What is harmony current level of profitability

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Harmony is a South African mining company that exports 23 ounces of gold to the US. Gold is priced in US dollars but Harmony's workers are paid in rand (the currency of South Africa). The current price of gold is 1,732 dollars per ounce. The current exchange rate is 17 rand (R) per $1. Harmony's current mining costs are R12,000 per ounce. Expected one-year inflation rates are 2 in the U.S. and 5 in South Africa (in%). What is Harmony's current level of profitability?

Reference no: EM133674540

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