| Thu 25 Aug 2016, 8:43 | | HARMONY GOLD MINING COMPANY LIMITED - Taking Golpu up the value curve; application submitted for special mining lease |
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HAR 201608250014A
Taking Golpu up the value curve; application submitted for special mining lease
Harmony Gold Mining Company Limited
Registration number 1950/038232/06
Incorporated in the Republic of South Africa
ISIN: ZAE000015228
JSE share code: HAR
(“Harmony” or “the company”)
Taking Golpu up the value curve; application submitted for special
mining lease
Johannesburg, Thursday, 25 August 2016: Harmony Gold Mining
Company Limited (Harmony) is pleased to announce that an
application for a special mining lease for the Wafi-Golpu project
was submitted today to the Mineral Resources Authority in Papua
New Guinea.
Submission of this application follows reviews of the feasibility
study for the Wafi-Golpu project by the boards of directors of
both Harmony and Newcrest Mining Limited (Newcrest), Harmony’s
joint venture partner in the project.
The Golpu porphyry is considered to be a world-class deposit that
lends itself to phased development and block cave mining. Once
completed, Golpu, which is situated just 65km from Lae, the second
largest city in Papua New Guinea, will be the largest underground
mine in that country.
Golpu has a JORC-compliant mineral resource of 824Mt at 1.05%
copper, 0.70g/t gold, 1.25g/t silver and 90ppm molybdenum.
Work to optimise the outcomes of the feasibility study and to
incorporate additional data continues. Further project development
will be subject to the granting of the special mining lease, the
obtaining of all necessary permits, approvals and agreements and,
ultimately, approval by the boards of both Harmony and Newcrest.
The development of the project will contribute to the local and
the national economy by creating employment and business
For more details contact:
Marian van der Walt
Executive: Corporate and Investor Relations
+27 (0) 82 888 1242 (mobile)
25 August 2016
Sponsor:
J.P. Morgan Equities South Africa Proprietary Limited.
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