Return-to-work process at Harmony is progressing well
Harmony Gold Mining Company has reported “The market will be accessed at the discretion of the Company.”
The company successfully increased the value of our asset portfolio over the past 4 years by acquiring 100% of Hidden Valley (approximately 190 000 ounces of gold) in Papua New Guinea and then adding a further 250 000 quality ounces of gold through the acquisition of Moab Khotsong in South Africa.
“The planned acquisition of Mponeng and Mine Waste Solutions will further enhance Harmony’s near-term production by adding annual gold production of approximately 350 000 ounces of gold.
Section 11 approval (in terms of the Minerals and Petroleum Resources Development Act) of the transaction is now the only condition precedent outstanding. Once approved, the integration of these assets will allow Harmony to further unlock value for its shareholders through increased grades and stronger margins”, Harmony’s chief executive officer, Peter Steenkamp, said.
“The return-to-work process at Harmony is progressing well, with all of our COVID-19 processes and procedures being strictly adhered to. We anticipate being back in full production towards the middle of July 2020”, Peter Steenkamp added.