Company announcements

Harmony welcomes conditional grant funding for the Eva Copper Mine Project

July 30, 2024

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Johannesburg. Tuesday, 30 July 2024. Harmony Gold Mining Company Limited (“Harmony” or the “Company”) warmly welcomes the Queensland Government’s decision to provide conditional grant funding of A$20.7 million to the Eva Copper Mine Project (the Project) under the Mount Isa Mining Acceleration Programme. The Mount Isa Mining Acceleration Programme was announced by the Queensland Government in October 2023 to accelerate the development of resource projects such as the Eva Copper Mine Project in the North West Minerals Province in the next five years.

The grant is subject to a number of conditions, including that the Company reaches a positive Final Investment Decision (FID) by January 2026. The grant of A$20.7 million is earmarked for preparatory works at the Project site, located 75 kilometres north of Cloncurry and 95 kilometres north-east of Mount Isa, on the traditional lands of the Kalkadoon People.

The preparatory works to which grant funding will be applied to, include site access roads, an upgrade of the Burke Developmental Road intersection, construction accommodation facilities, fencing, and associated services and infrastructure.

These activities, which form part of a larger early works programme funded by Harmony that are designed to facilitate earliest copper production (subject to a positive FID), are underway and will continue over the next several months.

The decision to provide grant funding follows the declaration by the Queensland Government in March this year of the Project as a ‘Prescribed Project’, in recognition of its social and economic significance to the state’s North West region.

Harmony’s Chief Executive Officer, Peter Steenkamp, said the grant was an important contribution to the Project’s progress and an important demonstration of the Queensland Government’s support for Harmony and the Project.

“We are thankful to the people and the Government of Queensland for this grant, and we reaffirm our commitment to developing the Eva Copper Mine Project in a way that is sustainable and maximises local economic benefits and jobs,” Steenkamp said.

Since acquisition, Harmony has been conducting a robust, risk-based feasibility study assessment of Eva Copper. These ongoing studies and exploration drilling programmes are targeted to deliver a quality, de-risked and sustainable mining operation. The feasibility study update will require amendments to the current Environmental Authority in place for the Project. A FID on the project will therefore only be considered once all approvals have been obtained.

For more details, contact:

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