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Target Mine

Our operations

Target 1

Target 1 is located in the Free State Province, some 270 kilometres southwest of Johannesburg. Mining operations at Target 1 comprise one primary underground mine, with a depth of approximately 2 945 metres. While most of the ore extracted comes from mechanised mining (massive mining techniques), conventional stoping is still employed primarily to de-stress areas ahead of mechanised mining. Ore mined is processed at the Target plant.

Performance FY16

The gold mineralisation currently exploited at Target 1 is contained within a succession of Elsburg and Dreyerskuil quartz pebble conglomerate reefs.

Target 1 manages its risks by focusing on trackless development to ensure the timeous availability of massive stopes and to prevent excessive dilution from waste and backfill in the pillar areas which could impact negatively on the delivered grade. Future success will depend on the availability of trackless mining equipment and performance regarding volumes and grade.

The Target 1 operation was adversely impacted by safety and work stoppages during the third quarter of FY16. Under performance on trackless development to access the higher grade massive stopes also impacted grade recoveries.

More detailed information on safety performance can be found in the Integrated annual report.

Key statistics

    FY16 FY15 FY14
Number of employees        
– Permanent   1 653 1 683 1 624
– Contractors   272 266 270
Total   1 925 1 949 1 894
Operational        
Volumes milled (000t) (metric) 739 749 771
  (000t) (imperial) 814 826 851
Gold produced (kg) 3 387 3 824 4 493
  (oz) 108 895 122 944 144 453
Gold sold (kg) 3 419 3 868 4 508
  (oz) 109 923 124 358 144 936
Grade (g/t) 4.58 5.11 5.83
  (oz/t) 0.134 0.149 0.170
Productivity (g/TEC) 155.77 172.25 206.06
Development results        
Total metres   3 459 4 174 4 292
Reef metres   182 290 436
Financial        
Revenue (Rm) 1 833 1 738 1 948
  (US$m) 126 152 188
Average gold price received (R/kg) 536 196 449 319 432 031
  (US$/oz) 1 150 1 221 1 298
Cash operating cost (Rm) 1 242 1 178 1 049
  (US$m) 86 103 101
Production profit/(loss) (Rm) 583 547 897
  (US$m) 40 48 87
Capital expenditure (Rm) 322 296 289
  (US$m) 22 26 28
Cash operating cost (R/kg) 366 814 308 156 233 487
  (US$/oz) 787 837 702
All-in sustaining cost (R/kg) 471 876 399 642 312 436
  (US$/oz) 1 012 1 086 939
Safety        
Number of fatalities   2 0 0
Lost-time injury frequency rate per million hours worked   4.91 4.51 1.30
Environment        
Electricity consumption (GWh) 247 242 242
Water consumption – primary activities (ML) 808 808 790
Greenhouse gas emissions (000t CO2e) 251 249 251
Intensity data per tonne treated        
– energy   0.33 0.32 0.31
– water   1.09 1.22 1.02
– greenhouse gas emissions   0.33 0.33 0.31
Number of reportable environmental incidents   0 0 0
Community        
Local economic development (Rm) 4 4 4
Training and development (Rm) 34 30 20
Other salient features  
Status of operation Single, cost efficient shaft operation.
Life of mine 10 years
Hoisting capacity (per month) 89 994 tonnes (99 200 tons)
Compliance and certification New order mining right – December 2007
ISO 14001
ISO 9001
OHSAS 18001

Mineral reserves as at 30 June 2016

  Proved reserves Probable reserves Total mineral reserves
Reserves (metric) Tonnes
(Mt)
Grade
(g/t)
Gold
(000kg)
Tonnes
(Mt)
Grade
(g/t)
Gold
(000kg)
Tonnes
(Mt)
Grade
(g/t)
Gold
(000kg)
  2.7 4.59 12 3.9 4.75 18 6.6 4.69 31
Reserves (imperial) Tons
(Mt)
Grade
(oz/t)
Gold
(000oz)
Tons
(Mt)
Grade
(oz/t)
Gold
(000oz)
Tons
(Mt)
Grade
(oz/t)
Gold
(000oz)
  3.0 0.134 401 4.3 0.139 591 7.3 0.137 992

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Recent news

Harmony is a dynamic and ever-changing company and our story is continuously evolving. Visit the news and events section of this website to get the latest instalments to the Harmony story. Read more

Annual report

Integrated annual report 2016
Integrated annual report 2016

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Investor brief

Harmony Investor brief, November 2016
Harmony Investor brief -
November 2016

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