Name of the Project
Eva copper mine project.

Location
Queensland, Australia.

Project Owner/s
Harmony Gold Mining Company acquired 100% of the project and 16 exploration tenements from Copper Mountain Mining Corporation in December 2022.

Project Description
The Eva mine has been declared a ‘prescribed project’, given its importance to the region.

The mine is an iron-oxide/copper/gold resource poised to become the biggest copper mine in north-west Queensland. 

The project has a current declared mineral resource of 366-million tonnes at 0.40% copper for 1.47-million tonnes of copper and 196-million tonnes at 0.07g/t gold for 440 000 oz 
of gold.

The project has the potential to be a long-life conventional openpit mine, with a copper concentrator producing a highly saleable copper concentrate.

Harmony expects average copper production of between 50 000 t/y and 60 000 t/y, and gold production of about 14 000 oz/y, subject to the finalisation of the feasibility study.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
No details available yet.

Capital Expenditure
The project has received conditional grant funding of A$20.7-million from the Queensland government.

Planned Start/End Date
First copper is targeted in the 2028 financial year.

Latest Developments
Harmony, in its interim results for the six months ended December 31, 2024, has reported that work on the feasibility study update is progressing well.

The company has defined the preferred development option, which will use conventional mining and processing techniques. Geotechnical and environmental, as well as other construction and operational conditions, have been validated, and site layout plans have been finalised.

Additional metallurgical tests have been completed, and the mine sequencing and process flowsheet have been simplified for sulphide ores and native copper. The process plant flowsheet has also been finalised.

A front-end engineering design contract for the process plant and nonprocess infrastructure has been awarded. The conclusion of the contract will lead to the awarding of an engineering, procurement, and construction contract.

A larger copper concentrator has been proposed, with milling throughput expected to reach up to 18-million tonnes a year. Once in operation, Harmony expects to produce up to 60 000 t/y of copper for a minimum of 15 years.

Since acquiring the project, Harmony has undertaken an extensive drilling programme of more than 120 000 m, significantly increasing the mineral resources and reinforcing the company’s confidence in Eva as a long-term, sustainable source of copper. During the half-year, the company completed 38 355 m of drilling.

In the six months to December 2024, early site works focused on improving access roads, installing fencing and establishing an 80-person construction camp. As part of these activities, Harmony entered into an alliance agreement for bulk earthworks, construction and contract mining. These activities fulfilled several obligations pertaining to the Queensland government’s A$20.7-million conditional grant funding, announced in July 2024.

Advancing to the second stage of preliminary works will further derisk the project’s construction and first-production critical path. Harmony also continues to proactively engage with the Queensland government on progressing amendments to the project's granted environmental authority to align with the revised project design. The company expects the final proposed amendment to be submitted in the fourth quarter, once the feasibility study is completed.

A key element of the project design is finalising the selection of the preferred long-term power solution. Grid power supplied by the proposed CopperString 2032 transmission line project –connecting the North West Minerals Province, in Queensland, to the national electricity market –remains the preferred option. Harmony is in discussions with the Queensland government regarding the timing and cost of power delivery through the CopperString 2032 project.

Key Contracts, Suppliers and Consultants
Not disclosed.

Contact Details for Project Information
Harmony Gold Mining Company, tel  +27 11 411 6073 or email harmonyir@harmony.co.za.