Go Back Email this Link to a friend

HARMONY GOLD MINING COMPANY LIMITED - Joint release with Newcrest Mining Limited/Wafi-Golpu Project update underground exploration planned at Golpu

Release Date: 06/12/2013 07:27:00      Code(s): HAR       PDF(s):  
Joint release with Newcrest Mining Limited/Wafi-Golpu Project update – underground exploration planned at Golpu

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”)

Joint release with Newcrest Mining Limited

Wafi-Golpu Project update – underground exploration planned at

Harmony Gold Mining Company Limited (Harmony) and Newcrest Mining
Limited (Newcrest) today announced plans to complete a feasibility
study to evaluate an underground exploration programme for the
Wafi-Golpu Project.

The Wafi-Golpu exploration project is owned by the Wafi-Golpu
unincorporated joint venture between subsidiaries of Newcrest
(50%) and Harmony (50%), and is located in the Morobe Province in
Papua New Guinea.

This next phase of work requires a feasibility study on an
exploration shaft and associated underground staging platforms to
complete deep underground drilling and bulk sampling of the ore
body. Underground access to the orebody through the exploration
shaft would generate essential ore body knowledge required to
support a future development decision. Geotechnical drilling to
identify a suitable exploration shaft location has commenced.

The Johannesburg office of the engineering consulting firm
WorleyParsons TWP has been engaged to prepare the feasibility
study for the proposed exploration shaft for consideration and
approval by the joint venture.  Their engagement also includes a
review of an associated lower capital expenditure development
option for the Golpu deposit to underpin the commercial decision
to sink an exploration shaft.

The joint venture anticipates a final investment decision for the
proposed exploration shaft during the second half of calendar
2014, subject to receipt of necessary regulatory approvals.

The joint venture also aims to finalise an agreement with the PNG
Government to provide a framework for the underground exploration
phase, ongoing technical and economic studies and, ultimately, the
future development and operation of the project.

These planning and study activities are accommodated within the
2014 exploration budget for the project.     In parallel to these
planning and study activities, the joint venture will continue
with investment in the community in the Wafi-Golpu project area.
Harmony has prepared a presentation in support of this release,
which is available on www.harmony.co.za/investors.

For more details contact:

Harmony Gold Mining Company Limited

Henrika Basterfield (Investor Relations Manager)
Tel: +27 (0) 82 759 1775 (mobile)
Email: henrika@harmony.co.za

Marian van der Walt (Executive: Corporate and Investor Relations)
Tel: +27 (0) 82 888 1242 (mobile)
Email: marian@harmony.co.za

Newcrest Mining Limited

Investor Enquiries
Steve Warner
P: +61 3 9522 5493
E:   steve.warner@newcrest.com.au

Media Enquiries
Kerrina Watson
P:   +61 3 9522 5593
E:    kerrina.watson@newcrest.com.au

6 December 2013

J.P. Morgan Equities South Africa Proprietary Limited

Date: 06/12/2013 07:27:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.

Email this JSE Sens Item to a Friend.

Send e-mail to
© 2021 SHARENET (PTY) Ltd, Cape Town, South Africa
Home     Terms & conditions    Privacy Policy
    Security Notice    Contact Details
Market Statistics are calculated by Sharenet and are therefore not the official JSE Market Statistics. The calculation/derivation may include underlying JSE data.