Company announcements

Harmony’s Chairman and CEO meet with PNG Prime Minister to continue discussions on Wafi-Golpu permitting

July 27, 2023

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Harmony Gold Mining Company Limited’s (“Harmony” and/or “the Company”) Chairman, Dr Patrice Motsepe and its CEO, Peter Steenkamp met with Prime Minister James Marape on 26 July, to continue discussions on permitting the tier 1 copper-gold Wafi-Gold project in Papua New Guinea (“PNG”).

Dr. Motsepe thanked the PNG Government for their ongoing support, in particular signing the Wafi-Golpu Framework Memorandum of Understanding (“MOU”) in April earlier this year, which affirms the parties’ intent to proceed with the Tier 1 Wafi-Golpu Project, subject to the finalisation of the permitting process and approvals by both the Harmony and Newcrest boards.

Harmony was acknowledged for its significant investment in PNG from 2004 to date through the Hidden Valley open cast mine, its extension, various exploration initiatives and the Project. They were updated on the progress of discussions with the PNG Government and the relevant stakeholders to develop the detailed agreements further in support of a Special Mining Lease grant.

Harmony’s Chairman, Dr. Patrice Motsepe, highlighted the long-standing relationship between Harmony and the PNG Government, the Company’s investment in PNG since 2004 and the company’s pursuit of multiple opportunities in the Morobe Province, of which the Wafi-Golpu Project is one.

“Harmony, through its subsidiary companies, owns the Hidden Valley Mine and will be a significant partner with the state and Newcrest in the Wafi-Golpu Project development” Dr. Motsepe said. “Harmony is proud of the contribution it has made to Morobe Province through the creation of jobs, business development opportunities as well as regional infrastructure”

Harmony’s CEO, Peter Steenkamp added that: “We look forward to the finalisation of the various agreements that will underpin the Project’s Special Mining Lease grant and participating in the subsequent project development. We look forward to concluding the permitting of the Wafi-Golpu project, enabling us to continue creating shared value for all our stakeholders in PNG”.

Harmony’s contribution in PNG

‘Responsible Stewardship’ is a key pillar underpinning Harmony’s operating philosophy, which is mining with purpose. The principles of sustainable development are embedded in our business. We recognise, both in South Africa and PNG, that preferential procurement is a national imperative, and we are proud to be supporting PNG businesses, including landowner businesses. As of 30 June 2023, the Hidden Valley Mine had paid an aggregate PGK 208.8 million in royalties. During the previous financial year, Harmony’s total procurement spend in PNG was PGK 620 million, including PGK 140 million spend with landowner companies.

Investment in a country’s people is also key. More than 96% of the Hidden Valley Mine’s 1,600-person permanent workforce are Papua New Guineans, including 29% of senior management and 76% of superintendents. This is continuing to increase through our Superintendent and Leadership development programs. We also recently announced our 2023 scholarship recipients, awarding full scholarships to six Morobeans’ to pursue university studies in mining related fields.”