Company announcements

Harmony secures regulatory approvals for the expansion of its Kareerand tailings storage facility project

June 14, 2022

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Capital allocated to reduce environmental footprint, lowering risk and improving margins

Johannesburg, Tuesday, 14 June 2022. Harmony Gold Mining Company Limited (“Harmony” and/or “the Company”) is pleased to announce that key regulatory approvals were obtained to allow the Company to proceed with its Kareerand expansion project to ensure the continued retreatment of surface depositions at Mine Waste Solutions.

Mine Waste Solutions was acquired by Harmony in October 2020. It is a reclamation operation in the Stilfontein/Orkney area in the North West province in South Africa, which treats 2.2 million tonnes per month from historical tailings facilities through the Mine Waste Solution plant. Residue is then deposited on the existing Kareerand tailings storage facility, which is running out of tailings deposition capacity, thus necessitating building an extended tailings dam (“the Kareerand Expansion Project”).

The Kareerand Expansion Project is expected to produce approximately 100 000 ounces of gold per annum and add 16 years’ life of mine at an estimated all-in sustaining cost of about R572 000/kg over the life of the mine – lowering the risk profile of Harmony’s asset portfolio and improving its margin as a result.

“The Kareerand Expansion Project is yet another example of “Mining with Purpose.”  This low risk, low cost operation will ensure healthy returns for investors, the creation of jobs for another 16 years and the rehabilitation and restoration of land in the area,” said Peter Steenkamp, Harmony’s chief executive officer.

For more details, contact:

Jared Coetzer
Head of Investor Relations
+27 (0)82 746 4120

JSE Sponsor: J.P. Morgan Equities South Africa Propriety Limited

Harmony Gold Mining Company Limited (Harmony), a world-class gold mining and exploration company, has operations and assets in South Africa and Papua New Guinea (PNG). Harmony has more than 70 years’ experience in the industry. Company assets include one open pit mine and several exploration tenements in PNG, as well as 9 underground mines and 1 open pit operation and several surface sources in South Africa. In addition, Harmony owns 50% of the significant Wafi-Golpu copper-gold project – a tier 1 asset – in a joint venture in PNG.

The company’s primary stock exchange listing is on the JSE with a secondary listing on the New York Stock Exchange. The bulk of our shareholders are in South Africa and the United States. Additional information on the company is available on the corporate website, www.harmony.co.za.