Harmony Gold and its partner signed an agreement with the Papua New Guinea government to clear the way to secure a mining permit by the middle of 2019 to start the Wafi-Golpu copper and gold mine.
Harmony and its partner, Australia’s Newcrest Mining, released an updated feasibility study in March 2018 showing the cost to bring the mine into commercial production would be about $2.8bn. The mine would produce an average 202,000oz of gold and 130,000 tons of copper a year.
Securing the memorandum of understanding (MOU) between the companies and the Papua New Guinea government gives a solid timeframe for the work that needs to happen to complete the permitting process and result in the issuance of a special mining lease by the end of June 2019.
“This MOU is an important step in progressing the permitting of the Wafi-Golpu project,” said Harmony CEO Peter Steenkamp
“It provides a framework of key terms to be included in the mining development contract and other related agreements with the state, including provision for stability to underpin the significant long-term investment required to develop and operate the project,” he said in a statement.
For the rest of this article: https://www.businesslive.co.za/bd/companies/mining/2018-12-11-harmony-to-secure-wafi-golpu-mining-permit-by-mid-2019/