Masimong

  • JSE: R208.40 +0.73%
  • NYSE:$11.32 +3.81%
  • GOLD:$2 793/oz +1.24%
  • GOLD:R1 659 738/kg +1.19%
  • USD:ZARR18.48 -0.05%
  • At 18:44pm, 30 Jan 2025

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 2024

  • Gold Resource: 0.9Moz
  • Gold Reserve: 0.1Moz
  • LoM: 2 years

Operating statistics FY24

Production

1 780kg/ 57 229oz

Grade

3.76g/t

Workforce

2 093

All-in sustaining cost

US$1 866/oz

Operating performance FY24

Throughout FY24 Masimong recorded a low shaft call factor and this is reflected in the recovered grade of 3.76g/t, 10% lower than the 4.17g/t recorded in FY23. The low shaft call factor is actively being addressed through various clean mining initiatives and expected to improve for the coming financial year. Gold production decreased by 9% to 1 780kg (57 229oz) (FY23: 1 961kg, 63 047oz) due to the lower recovered grade. Volumes of ore milled was in line with the previous year at 473 000 tonnes (FY23: 470 000 tonnes).

Gold revenue increased 4% to R2 137 million (FY23: R2 053 million) with the lower production offset by a rise in the gold price to R1 216 723/kg, 17% higher than the R1 036 670/kg recorded in FY23.

Cash operating costs increased by 10% to R1 882 million (FY23: R1 709 million), mainly due to annual wage and electricity tariff increases. Capital expenditure decreased 6% to R44 million (FY23: R47 million).

Our focus area in FY25

The Masimong management team will continue to focus on maintaining the safety and production performance as planned.

ESG statistics

Lost-time injury frequency rate

3.20 per million hours worked (FY23: 3.89)

Water intensity (/tonne treated)

1.37Ml (FY23: 2.59Ml)

Energy intensity (/tonne treated)

0.30GWh (FY23: 0.28GWh)

GHG intensity
(/tonne treated)

0.30t CO2e (FY23: 0.30t CO2e)

Local economic development

R11m (FY23: R9m)

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