Mponeng life-of-mine extension project, South Africa – update
Photo by Harmong Gold Mining Company
Name of the Project
Mponeng life-of-mine (LoM) extension project.
Location
West Wits region, South Africa.
Project Owner/s
Harmony Gold Mining Company.
Project Description
Mponeng is a world-class mine with two excellent, well-defined orebodies – the Carbon Leader reef (CLR) and Ventersdorp Contact reef (VCR) – with average face grades of more than 14 g/t and recovered grades of more than 9 g/t gold.
The project will access the VCR and CLR orebodies below existing infrastructure. This will be achieved through the selective extraction of the high-grade VCR areas to the east and west, through independent accesses, while eliminating the requirement to mine the lower-grade fretted terrace in the geographical centre of the orebody.
The CLR at the TauTona shaft pillar will also be mined, accessing this through the 75 Level at Mponeng.
At steady state, the project will produce 250 000 oz of gold over a 20-year mine life.
Potential Job Creation
Not stated.
Net Present Value/Internal Rate of Return
Not stated.
Capital Expenditure
This project, which requires R7.9-billion, will be funded in house through Mponeng's excess operating free cash flows.
As result, Harmony estimates that an additional R1-billion in capital expenditure will be required from the 2025 financial year once the project starts.
Planned Start/End Date
Not confirmed.
Latest Developments
The project is progressing as planned.
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.
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