Photo credit: Hidden Valley Mine Facebook page
Following the overland belt failure earlier this year, the Hidden Valley mine has resumed full operation, according to CEO Peter Steenkamp.
Following the event, full production of the Morobe project, operated by Harmony Gold Mining Company Ltd., has resumed.
This was emphasised by Steenkamp in the company's financial year report that ended on June 30.
The business has activities in PNG and South Africa.
“In Papua New Guinea, our Hidden Valley mine resumed full production after the overland belt failure in January 2022,” Steenkamp said.
“This strategically important asset performed well in the fourth quarter, with good prospects for the new financial year.”
Additionally, the business is a partner in Morobe's Wafi-Golpu mineral project.
“We continue to progress the special mining lease for the Tier One copper-gold Wafi-Golpu project,” Steenkamp said.
“The negotiating team for the Wafi-Golpu joint venture continues to engage with the PNG State negotiating team and we hope to reach an agreement soon.” Meanwhile, commenting on the overall company performance throughout the year, Steenkamp said Harmony did well.
“Throughout FY22, we faced multiple hurdles,” he said.
“It was through our phenomenal display of grit and perseverance that we delivered on our strategic pillar of operational excellence and achieved our annual total production guidance of between 1,480,000 and 1,560,000 ounces.
“The solid platform we have built throughout FY22 has placed Harmony in a strong position to deliver operationally, creating further value for all our stakeholders.
“Not only did we meet our annual production guidance, but we also took a bold step forward on our de-carbonisation journey.
“We finished this financial year on the front foot, confident and with good momentum.
“Our brownfield and greenfield pipeline, alongside the renewable energy projects will ensure continued value creation for our shareholders and stakeholders.”
Reference: The National (20 July 2022). “Hidden Valley mine resumes full operation after setback”.
