Phoenix

  • JSE: R157.72 +1.19%
  • NYSE:$8.43 +1.08%
  • GOLD:$2 622/oz -0.05%
  • GOLD:R1 543 594/kg -0.1%
  • USD:ZARR18.31 -0.05%
  • At 17:54pm, 21 Dec 2024

Overview

Phoenix, a tailings retreatment operation in Virginia, Free State, retreats tailings from Harmony’s tailings storage facilities in the Free State region to extract any residual gold, using the Saaiplaats plant. It is 100% owned by the black economic empowerment company, Tswelopele Beneficiation Operation Proprietary Limited, of which Harmony is a 76% shareholder.

As at 30 June 2023

  • Gold Resource: 0.40Moz
  • Gold Reserve: 0.30Moz
  • LoM: 5 years

Operating statistics FY23

Production

833kg / 26 782oz

Grade

0.134g/t

Workforce

350

All-in sustaining cost

US$1 144/oz

Operating performance FY23

Gold production increased 9% to 833kg (26 782oz) from 767kg (24 659oz) in FY22. This was due to a 9% increase in the recovered grade to 0.134g/t (FY22: 0.123g/t). Volumes of ore processed remained constant at 6.2 million tonnes (FY22: 6.2 million tonnes). The higher gold production combined with a 17% rise in average gold price received led to a 29% increase in revenue to R889 million (FY22:R689 million).

All-in sustaining cost rose 7% to R653 241/kg, mainly due to a 14% increase in cash operating cost. Cash cost increased mainly due to a significant increase in the cost of chemicals as well as annual labour and electricity increases. Capital expenditure for FY23 increased to R37 million (FY22: R28 million), mainly on the back of the St Helena tailings storage facility remediation and carbon regeneration kiln costs.

OUTLOOK FOR FY24

Continue safe operations and deliver operational excellence through a combination of a good health and safety environment, cost competitiveness and improving process efficiencies. Production guidance for FY24 is approximately 25 000oz.

ESG statistics

Lost time injury frequency rate

0.00 per million hours worked (FY22: 1.64)

Water intensity (/tonne treated)

0.01Ml (FY22: 0.02Ml)

Energy intensity (/tonne treated)

0.01GWh (FY22: 0.01GWh)

GHG intensity
(/tonne treated)

0.01t CO2e (FY22: 0.01t CO2e)

Contact Phoenix

XV88+5X Virginia