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Power supply agreement for Hidden Valley Mine

Harmony Gold Mining Company Limited today announced that it has signed an agreement with PNG Power Limited (PPL) to supply the Hidden Valley Mine in Papua New Guinea with electricity.

“Harmony has been in discussion with PPL for some time and the signing of the agreement is a further milestone in the development of the Hidden Valley Mine. ” says Graham Briggs Managing Director of Harmony International

“This agreement is advantageous for the mine as the power costs are significantly lower than those to produce power by means of diesel gensets. The agreement is also good for PPL in that it supports their objectives and secures a long term client. The agreement pricing has been built into our financial model”, adds Briggs.

PPL has committed to construct new transmission lines and infrastructure in order to supply hydro-electricity from the Yonki Dam. Supply is expected to commence on 1 January 2009 and the Hidden Valley Mine has a life of ten years.

Harmony has bought diesel generators and will install them for the purpose of providing 100% backup power supply (if required).

For more details contact:

Bernard Swanepoel
Chief Executive
+27 83 303 9922

Amelia Soares
Investor Relations General Manager
+27(0)82 654 9241

Lizelle du Toit
Investor Relations Officer
Tel: +27(0)82 465 1244

Annual report

Integrated annual report 2016
Integrated annual report 2016

(HTML & PDFs)

Investor brief

Harmony Investor brief, Sep 2017
September 2017 -
Harmony Investor brief

(PDF - 6.5MB)

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