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Harmony expands Papua New Guinea exploration portfolio

Johannesburg. Thursday, 27 August 2009. Harmony Gold Mining Company Limited (Harmony) is pleased to advise that it has acquired two new exploration projects, the Amanab and the Mt Hagen Projects, in Papua New Guinea (PNG).

These exploration licenses (EL) complement the exploration activities undertaken by Harmony and underscore the company’s commitment and belief in the developing minerals industry in PNG.

Amanab Project EL1708

Amanab project EL1708 was granted on 6 July 2009 and comprises of about 863 square kilometres of tenure. The tenement is located approximately 160km north of the OK Tedi copper-gold mine in the Sandaun Province and was pegged to target the bedrock source of the alluvial goldfield centered on the Yup River.

Mt Hagen Project EL1611 & EL1596

The Mt Hagen project comprises two contiguous tenements encompassing approximately 1100 square kilometres of tenure. The tenements are located approximately 20km north-northeast of Mt Hagen and are readily accessible via the Highlands Highway connecting Lae and Porgera.

Harmony acquired 100% of the mineral rights for EL1596 from Frontier Resources for the cash consideration of A$300,000.

Harmony also acquired the rights to explore the adjacent tenement EL1611 over a four year period, with the condition that Harmony’s exploration program meets the minimum annual expenditure commitment. At any time during this period Harmony may exercise an option to purchase 100% of the tenement for a total cash consideration of 6 million Kina.

Below is an outline showing locations of Harmony’s mining and exploration tenure in Papua New Guinea.

Outline showing locations of Harmony’s mining and exploration tenure in Papua New Guinea

For more details contact:

Graham Briggs
Chief Executive Officer
on +27(0)83 265 0274

Marian van der Walt
Executive: Corporate and Investor Relations
+27 (0)82 888 1242

Annual report

Integrated annual report 2016
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Investor brief

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

(PDF - 6.5MB)

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