Harmony Gold, which is edging closer to a decision on its Wafi gold and copper project in Papua New Guinea, secured full investor support for its $300m purchase of gold assets from AngloGold Ashanti in SA. Harmony, which is bringing the suspended and now wholly owned Hidden Valley mine into full production by the middle of 2018 at a budgeted cost of $180m after buying out Australian partner Newcrest Mining, saw the addition of the Moab Khotsong mine in SA as a critical development for the company, CEO Peter Steenkamp said. The two mines would add 500,000oz of relatively low-cost gold to Harmony’s output, ahead of a forecast fall in South African production in the next four or five years as old mines reached the end of their lives and closed, he said. The Moab mine came with the mothballed Great Noligwa mine, where Harmony saw potential to extract the shaft pillar and other blocks of ground isolated during AngloGold’s ownership of the mine, he said. Harmony specialises in mining pill...
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