Phoenix

  • JSE: R322.20 -2.48%
  • NYSE:$19.14 +0.47%
  • GOLD:$4 208/oz -0.01%
  • GOLD:R2 297 139/kg -0.07%
  • USD:ZARR16.98 -0.09%
  • At 05:04am, 05 Dec 2025

Overview

Phoenix, a tailings retreatment operation in Virginia, Free State, retreats tailings from Harmony’s tailings storage facilities in the Free State region to extract any residual gold, using the Saaiplaats plant. It is 100% owned by the black economic empowerment company, Tswelopele Beneficiation Operation Proprietary Limited, of which Harmony is a 76% shareholder.

As at 30 June 2024

  • Gold Resource: 0.4Moz
  • Gold Reserve: 0.2Moz
  • LoM: 4 years

Operating statistics FY24

Production

923kg / 29 674oz

Grade

0.15g/t

Workforce

347

All-in sustaining cost

US$1 026/oz

Operating performance FY24

Gold production increased 11% to 923kg (29 674oz) from 833kg (26 782oz) in FY23. This was due to a 13% increase in the recovered grade to 0.152g/t (FY23: 0.134g/t) partially offset by lower volumes of ore processed, 2% lower at 6.07 million tonnes (FY23: 6.22 million tonnes). The higher gold production combined with a 19% rise in the average gold price received to R1 259 294/kg (FY23: R1 054 262/kg) led to a 28% increase in revenue to R1 140 million (FY23: R889 million).

All-in sustaining cost decreased by 6% to R617 051/kg (FY23: R653 241/kg), mainly as a result of the increase in production. Cash operating costs increased by 8% from R504 million in FY23 to R546 million mainly due to an increase in the cost of chemicals as well as annual labour and electricity tariff increases. Capital expenditure for FY24 decreased to R14 million (FY23: R37 million), mainly spent on the St Helena tailings storage facility (TSF) remediation and carbon regeneration kiln.

Our focus area in FY25

Continue safe operations and deliver operational excellence through a combination of a good health and safety environment, cost competitiveness and improving process efficiencies.

ESG statistics

Lost time injury frequency rate

0.00 per million hours worked (FY23: 0.00)

Water intensity (/tonne treated)

0.02Ml (FY23: 0.01Ml)

Energy intensity (/tonne treated)

0.01GWh (FY23: 0.01GWh)

GHG intensity
(/tonne treated)

0.01t CO2e (FY23: 0.01t CO2e)

Contact Phoenix

XV88+5X Virginia