White Rivers, Harmony Gold enter exploration JV
JOHANNESBURG (miningweekly.com) – Mineral explorer and developer White Rivers Exploration (WRE) and gold miner Harmony Gold have entered into a joint venture (JV) to explore and develop potential gold resources at WRE’s Beisa project and abutting exploration areas within Harmony’s adjacent operations in the Free State.
Under the terms of the agreement, WRE and Harmony would have an initial and fixed 65% and 35% interest respectively in the JV.
WRE would fund and manage the exploration activities to prefeasibility study level, after which both parties would contribute to the completion of any bankable feasibility study (BFS) in line with their percentage interests.
Once a positive BFS was completed, the exploration JV would be transferred into a mining JV in which Harmony and WRE would hold 51% and 49% respectively.
“The partnership with Harmony, one of the world’s biggest gold miners, is a significant step forward on our path to production on our large South African prospective gold projects,” WRE executive chairperson Neil Warburton said.
He added that, if the future exploration programme proved up significant gold resources, as was expected, access to Harmony’s neighbouring infrastructure would enable the mining and production of the exploration JV resources to be fast-tracked, which meant that limited capital funding would be required by the exploration JV partners.
“This exploration JV has the potential to position WRE as a substantial mining operation. We will be looking at a number of funding options as the venture progresses, including potential listings on the Johannesburg and London stock exchanges,” Warburton said.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Rentech provides renewable energy products and services to the local and selected African markets. Supplying inverters, lithium and lead-acid...
VISIT SHOWROOM
Our Easy Access Chute concept was developed to reduce the risks related to liner maintenance. Currently, replacing wear liners require that...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
