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Africa|Financial|Gold|Mining|PROJECT
Africa|Financial|Gold|Mining|PROJECT
africa|financial|gold|mining|project

Mponeng extension project, South Africa

Panoramic view of the Mponeng mine

12th April 2024

By: Sheila Barradas

Creamer Media Research Coordinator & Senior Deputy Editor

     

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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

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