Masimong

  • JSE: R152.37 -2.57%
  • NYSE:$8.11 -1.64%
  • GOLD:$2 599/oz -0.84%
  • GOLD:R1 570 334/kg -0.73%
  • USD:ZARR18.79 +0.09%
  • At 18:49pm, 30 Dec 2024

Overview

Masimong is a deep-level mine in the Free State, near Welkom, around 260km from Johannesburg. The operation is close to the end of its mine life, with some 18 months of mining remaining. Masimong is an example of the effectiveness of Harmony’s business model.

The Masimong complex comprises two shafts – one for operational use and the other for services such as ventilation, pumping and an escape route. Masimong exploits the Basal and B Reefs, using a conventional tabular narrow-reef stoping method. Mining depths are between of 1 650m to 2 010m. Ore mined is processed at the nearby Harmony One plant.

As at 30 June 2023

  • Gold Resource: 0.9Moz
  • Gold Reserve: 0.2Moz
  • LoM: 2 years

Operating statistics FY23

Production

1 961kg / 63 047oz

Grade

4.17g/t

Workforce

2 064

All-in sustaining cost

US$1 621/oz

Operating performance FY23

Gold production increased by 3% to 1 961kg (63 047oz) (FY22: 1 910kg), mainly due to a 6% improvement in the recovered grade to 4.17g/t (FY22: 3.93g/t). Tonnes milled was 3% lower at 470 000 tonnes (FY22: 486 000 tonnes).

A 14% increase in gold price received contributed to the 18% rise in revenue to R2 053 million (FY22: R1 733 million).

Cash operating costs rose 13% to R1 709 million (FY22: R1 509 million), mainly due to annual wage increases and electricity tariff increases as well as significant increases in consumables. Capital expenditure remained flat at R47 million (FY22: R49 million).

OUTLOOK FOR FY24

The management team will continue to focus on maintaining the safety and production performance as planned. Production guidance for FY243 is 62 900oz to 66 200oz.

ESG statistics

Lost-time injury frequency rate

3.89 per million hours worked (FY22: 4.18)

Water intensity (/tonne treated)

2.59Ml (FY22: 1.66Ml)

Energy intensity (/tonne treated)

0.28GWh (FY22: 0.27GWh)

GHG intensity
(/tonne treated)

0.30t CO2e (FY22: 0.29t CO2e)

Local economic development

R9m (FY22: R8m)

SLP

Masimong/Unisel SLP 2018 -2022 (English)
Masimong/Unisel SLP 2018 – 2022 seSotho)

Masimong

Tel: 057 910 5650

2VHF+3M Welkom,
Free State, South Africa