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")
HARMONY SECURES REGULATORY APPROVALS FOR THE EXPANSION OF ITS KAREERAND TAILINGS
STORAGE FACILITY PROJECT
Capital allocated to reduce environmental footprint, lowering risk and improving margins
Johannesburg, Tuesday, 14 June 2022. Harmony Gold Mining Company Limited ("Harmony" and/or "the Company") is pleased to announce that key regulatory approvals were obtained to allow the Company to proceed with its Kareerand expansion project to ensure the continued retreatment of surface depositions at Mine Waste Solutions.
Mine Waste Solutions was acquired by Harmony in October 2020. It is a reclamation operation in the Stilfontein/Orkney area in the North West province in South Africa, which treats 2.2 million tonnes per month from historical tailings facilities through the Mine Waste Solution plant. Residue is then deposited on the existing Kareerand tailings storage facility, which is running out of tailings deposition capacity, thus necessitating building an extended tailings dam ("the Kareerand Expansion Project").
The | Kareerand Expansion Project | is expected | to produce approximately |
100 | 000 ounces of gold per annum and add 16 years' life of mine at an estimated | ||
all-in sustaining cost of about | R572 000/kg over the life of the mine - lowering | ||
the risk profile of Harmony's | asset | portfolio and | improving its margin as a |
result. |
"The Kareerand Expansion Project is yet another example of "Mining with Purpose." This low risk, low cost operation will ensure healthy returns for investors, the creation of jobs for another 16 years and the rehabilitation and restoration of land in the area," said Peter Steenkamp, Harmony's chief executive officer.
Ends.
For more details contact:
Jared Coetzer
Head of Investor Relations +27 (0)82 746 4120
14 June 2022
Sponsor:
J.P. Morgan Equities South Africa Proprietary Limited.
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Harmony Gold Mining Company Ltd. published this content on 14 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 June 2022 14:12:09 UTC.