Harmony Gold said it was on track to meet full-year production, grade and cost guidance after a 5% uptick in output for the third quarter to end-March.In an operational update, the miner reported revenue of R68.38m for the first nine months of this financial year, up by more than a third from the previous comparable period.A significant tailwind in the year came from the addition of the $1bn CSA copper mine in Australia last October, which is expected to add about 40,000 tonnes of copper to the group’s annual output.Since its acquisition, CSA has produced 9,596 tonnes, including a one-month production stoppage to complete the shaft steel replacement, with the group in the process of drilling and installing ventilation.Leveraged exposure to the elevated price of gold also contributed to the rise in earnings, driving an 87% increase in free cash flow at an operational level.At end-March, Harmony had hedged 592,000oz of gold at a price range of R2m-R2.29m per kilogram, a 6% increase from the previous quarter’s average.One threat clouding the group’s outlook is energy prices in the wake of the Iran war, with labour and electricity being the largest components of the group’s costs.Electricity prices are expected to remain elevated in the coming months as Middle East tension continues to threaten the Strait of Hormuz, while the broader inflation risks are likely to see workers demanding bigger wage increases this year.Harmony CEO Beyers Nel assured investors that “costs remain under control and we are actively monitoring the impact of higher oil prices and potential supply disruptions across our global operations”.“Labour and electricity are the largest component of group costs and at this stage we do not anticipate any material cost escalation or risk to guidance,” he said.Shares in Harmony rose 3% in intraday trading after the release of its operating update. They have lost 15% in the past month as the Iran war continues to pressure commodity prices.