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Construction at Hidden Valley almost two-thirds complete.


Publication: Mining Weekly
Journalist: Chanel Pringle

Construction at the Hidden Valley project in Papua New Guinea (PNG), was now about 64% completed, South African gold miner Harmony Gold reported on Monday.

In a presentation delivered at the PNG Mining and Petroleum Investment Conference in Australia, Hidden Valley project GM Adam Wright stated that 62% of the capital also had been committed.

Wright was speaking on behalf of the Morobe Mining joint venture (JV), which is a 50:50 partnership between Harmony Gold and Australia's Newcrest Mining.

Wright said that the commissioning of the processing plant would start in the second quarter of next year, in line with the JV partners' plans to start production by the middle of 2009.

The mine was expected to produce about 270 000 oz of gold in the 2010 financial year.

Structural, mechanical and piping work at the plant has started, while the electrical and instrumentation contract had been awarded. The first phase of a tailings storage facility was also near completion.

Meanwhile, Wright noted that the companies would establish a beachhead project at the Wafi-Golpu property to further exploration, while generating cash.

The JV would reduce the upfront capital required for the project, while initially concentrating on "gold only" operations.

The JV also saw further regional potential with exploration under way for porphyry and epithermal systems with multi-ounces potential at Biamena, Kauri, Morobe Coast and Bawaga.

Annual report

Integrated annual report 2016
Integrated annual report 2016

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

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