Mine Waste Solutions

  • JSE: R152.37 -2.57%
  • NYSE:$8.16 -0.97%
  • GOLD:$2 603/oz -0.69%
  • GOLD:R1 575 189/kg -0.42%
  • USD:ZARR18.82 +0.25%
  • At 19:14pm, 30 Dec 2024

Overview

Mine Waste Solutions is a tailings retreatment operation near Klerksdorp in North West province. It reprocesses low-grade material from tailing storage facilities scattered across the Vaal River and Stilfontein area to reduce the tailings footprint.

The operation was acquired from AngloGold Ashanti Limited in October 2020. Harmony subsidiary, Chemwes, the owner of Mine Waste Solutions, has a contract with Franco-Nevada Barbados in terms of which Franco-Nevada is entitled to receive 25% of all the gold produced through Mine Waste Solutions.

As at 30 June 2023, 22 269oz was delivered to Franco-Nevada, bringing the remaining balance of gold ounces to be delivered as at year end to 38 888oz.

As at 30 June 2023

  • Gold Resource: 2.5Moz
  • Gold Reserve: 2.1Moz
  • LoM: 16 years

Operating statistics FY23

Production

2 804kg / 90 150oz

Grade

0.122g/t

Workforce

2 185

All-in sustaining cost

US$1 262/oz

Operating performance FY23

Production at Mine Waste Solutions was marginally lower at 23.1 million tonnes processed in FY23 compared with 23.4 million tonnes in FY22. The average recovered grade for FY23 was 2% lower at 0.122g/t (FY22: 0.124g/t), resulting in gold production decreasing 3% to 2 804kg (90 150oz) from 2 899kg (93 205oz) in the previous year.

Despite the marginal decrease in production, revenue rose 2% to R2 689 million (FY22: R2 642 million) due to a higher gold price. Cash operating cost increased 14% to R1 821 million (FY22: R1 593 million) mainly due to the higher cost of chemicals, most notably cyanide.

Capital expenditure of R932 million was incurred in FY23. This was significantly higher than the R264 million spent in FY22 and was mainly for the Kareerand expansion project as well as the West Complex pump station.

OUTLOOK FOR FY24

The successful execution of all major projects that are earmarked to extend the life-of-mine of the operation as well as the successful commissioning of the West Complex pump station to replenish depleted sources. Production guidance for FY24 is in the range of 99 100oz to 104 400oz.

ESG statistics

Lost time injury frequency rate

4.55 per million hours worked (FY22: 3.21)

Water intensity (/tonne treated)

0.25Ml (FY22: 0.29Ml)

Energy intensity (/tonne treated)

0.01GWh (FY22: 0.01GWh)

GHG intensity
(/tonne treated)

0.01t CO2e (FY22: 0.01t CO2e)

MINE WASTE SOLUTIONS

Tel: 018 478 4214

3 Stilfontein Rd,
Stilfontein, 2551,
North West, South Africa