{"id":93419,"date":"2025-11-24T19:10:58","date_gmt":"2025-11-24T19:10:58","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africas-biggest-gold-miner-gets-green-light"},"modified":"2025-11-24T19:18:19","modified_gmt":"2025-11-24T19:18:19","slug":"south-africas-biggest-gold-miner-gets-green-light","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africas-biggest-gold-miner-gets-green-light","title":{"rendered":"South Africa\u2019s Biggest Gold Miner Gets Green Light"},"content":{"rendered":"

Africa-Press – South-Africa. <\/strong><\/span>Harmony Gold\u2019s board has approved investment of between $1.55 billion (R26.81 billion) and $1.75 billion (R30.27 billion) to develop its Australian copper project after completion of an updated feasibility study, the South African miner said on Monday.<\/p>\n

South Africa\u2019s top gold producer by volume is diversifying into copper as gold mining in its home country becomes more costly and geologically challenging while copper\u2019s allure is bolstered by its uses in electric vehicles and power grid infrastructure.<\/p>\n

Harmony acquired the Eva Copper project in Queensland in 2022. The mine is expected to produce about 65,000 metric tons of copper concentrate a year for its first five years, with life-of-mine output averaging 60,000 tons of copper and 19,000 ounces of gold over an estimated 15-year lifespan, Harmony\u2019s statement said.<\/p>\n

The approved investment will be phased in over three years, funded through internal cashflow and what it described as capital-efficient debt instruments.<\/p>\n

Production is expected to begin in the second half of 2028, aligning with a structural copper supply gap that would support higher prices, the company said.<\/p>\n

Harmony\u2019s recent MAC Copper acquisition and Eva Copper are expected to deliver a combined total of about 100,000 tons of copper a year when fully up and running, said Chief Executive Beyers Nel.<\/p>\n

\u201cThe project provides compelling exposure to robust copper fundamentals and, when combined with the current strength in gold prices, offers significant upside potential,\u201d Nel said.<\/p>\n

\u201cWe have confidence in the long-term outlook for copper and gold, and Eva Copper is poised to deliver strong free cashflows and attractive margins while reducing our overall risk profile.\u201d<\/p>\n

For More News And Analysis About South-Africa<\/span> Follow Africa-Press<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Africa. Harmony Gold\u2019s board has approved investment of between $1.55 billion (R26.81 billion) and $1.75 billion (R30.27 billion) to develop its Australian copper project after completion of an updated feasibility study, the South African miner said on Monday. South Africa\u2019s top gold producer by volume is diversifying into copper as gold mining in […]<\/p>\n","protected":false},"author":84,"featured_media":93418,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[275],"class_list":["post-93419","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-south-africa-2"],"yoast_head":"\nSouth Africa\u2019s Biggest Gold Miner Gets Green Light - South Africa<\/title>\n<meta name=\"description\" content=\"Harmony Gold\u2019s board has approved investment of between $1.55 billion (R26.81 billion) and $1.75 billion (R30.27 billion ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africas-biggest-gold-miner-gets-green-light\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"South Africa\u2019s Biggest Gold Miner Gets Green Light\" \/>\n<meta property=\"og:description\" content=\"Harmony Gold\u2019s board has approved investment of between $1.55 billion (R26.81 billion) and $1.75 billion (R30.27 billion ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africas-biggest-gold-miner-gets-green-light\" \/>\n<meta property=\"og:site_name\" content=\"South Africa\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2025-11-24T19:10:58+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-11-24T19:18:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2025\/11\/sm_1763999221.829371.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"675\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africas-biggest-gold-miner-gets-green-light#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africas-biggest-gold-miner-gets-green-light\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"South Africa\u2019s Biggest Gold Miner Gets Green Light\",\"datePublished\":\"2025-11-24T19:10:58+00:00\",\"dateModified\":\"2025-11-24T19:18:19+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africas-biggest-gold-miner-gets-green-light\"},\"wordCount\":281,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africas-biggest-gold-miner-gets-green-light#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2025\/11\/sm_1763999221.829371.jpg\",\"keywords\":[\"South-Africa\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africas-biggest-gold-miner-gets-green-light#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africas-biggest-gold-miner-gets-green-light\",\"url\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africas-biggest-gold-miner-gets-green-light\",\"name\":\"South Africa\u2019s Biggest Gold Miner Gets Green Light - 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