Mponeng extension project, South Africa

12th April 2024

By: Sheila Barradas

Creamer Media Research Coordinator & Senior Deputy Editor

     

Font size: - +

Name of the Project
Mponeng extension project.

Location
West Wits region, South Africa.

Project Owner/s
Harmony Gold.

Project Description
Mponeng is a world-class mine with two excellent, well-defined orebodies – the Carbon Leader reef and Ventersdorp Contact reef – with average face grades of more than 14g/t and recovered grades of more than 9g/t.

The project will extend the mine’s life until 2044, and will add 3.05-million ounces of mineral reserves, over the life of the mine, delivering average expected steady-state production of about 264 000 oz/y.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
Not stated.

Capital Expenditure
This project, which requires R7.9-billion over the life of the project, will be internally funded through Mponeng's excess operating free cash flows.

As result, Harmony estimates an additional R1-billion in capital expenditure from the 2025 financial year once the project starts.

Planned Start/End Date
First gold is expected after four years.

Latest Developments
None stated.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Harmony Gold Mining Company, tel +27 11 411 2000 or email corporate@harmony.co.za.
 

Edited by Martin Zhuwakinyu
Creamer Media Senior Deputy Editor

Comments

The content you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION