HARMONY GOLD MINING COMPANY LIMITED - Harmonys Hidden Valley processing infrastructure upgrade completed ahead of scheduleRelease Date: 30/11/2017 09:24:00 Code(s): HAR PDF(s):
Harmony’s Hidden Valley processing infrastructure upgrade completed ahead of schedule
Harmony Gold Mining Company Limited
Registration number 1950/038232/06
Incorporated in the Republic of South Africa
JSE share code: HAR
(“Harmony” or “the company”)
Harmony’s Hidden Valley processing infrastructure upgrade completed ahead of
schedule, processing of ore has recommenced
Thursday, 30 November 2017: Johannesburg. Harmony Gold Mining Company Limited
(“Harmony” and/or “the Company”) is pleased to announce that the planned
shutdown at its Hidden Valley mine in Papua New Guinea (PNG) was completed two
weeks ahead of schedule and processing of ore recommenced on the 15th of November
2017. More than 65% of the planned initial capital investment in the stage 5
and 6 cutback has been incurred to date and the project is progressing ahead of
schedule and on budget, all whilst maintaining the highest safety standards.
At the 2017 Mining and Petroleum Conference and Trade Fair in Papua New Guinea,
the General Manager at Hidden Valley, Gary Davies, highlighted the following:
- Safety at the mine is industry leading, with a lost-time injury rate
during the past twelve months of 0.2 per million hours worked and the last
lost-time injury recorded in April 2017
- Processing operations at the mine started two weeks ahead of schedule on 15
November 2017, following the planned four-month plant shutdown
- Mining at the Stage 5 cutback is a month ahead of schedule and on budget,
with an annualised mining rate of 28 million tonnes per annum achieved in
- It is expected that commercial levels of production will be achieved in the
June quarter 2018, as per plan
“The Hidden Valley team showcases responsible mining - communities benefit,
employees benefit and the mine is well on track to deliver annual steady state
gold production of 180,000oz at an all-in sustaining cost of less than US$950/oz
during FY19”, said Peter Steenkamp, chief executive officer of Harmony.
For more details contact:
Investor Relations Manager
+27 (0) 71 607 1498 (mobile)
30 November 2017
J.P. Morgan Equities South Africa Proprietary Limited.
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