Mponeng

  • JSE: R185.25 0.52%
  • NYSE:$9.77 +3.28%
  • GOLD:$2 710/oz +0.16%
  • GOLD:R1 626 627/kg +1.03%
  • USD:ZARR18.67 +0.87%
  • At 03:14am, 21 Jan 2025

Overview

Mponeng is the deepest level shaft in the world, with a depth of 3 891 metres below datum and 2 062 metres below sea level. The mine, which began producing in 1986, is near the town of Carletonville, some 90km south-west of Johannesburg. The mine exploits the Ventersdorp Contact Reef, its primary orebody, employing mostly breast-mining methods. The economic reef horizons are mined at depths of between 3 160m and 3 740m below surface. Ore mined is processed at the Mponeng gold plant using conventional gold leaching methods carbon-in-pulp gold recovery technology.

As at 30 June 2024

  • Gold Resource: 24.6Moz
  • Gold Reserve: 4.5Moz
  • LoM: 20 years

Operating statistics FY24

Production

8 751kg / 281 350oz

Grade

9.94g/t

Workforce

5 490

All-in sustaining cost

US$1 306/oz

Operating performance FY24

Mponeng was the group’s largest gold producer, contributing 18% of total production. The operation has been mining through high-grade areas on both the eastern and western blocks on 123 and 126 levels and as a result saw an 18% increase in the recovered grade to 9.94g/t for FY24 (FY23: 8.43g/t). Gold production increased to 8 751kg (281 350oz) in FY24, 17% higher than the 7 449kg (239 490oz) recorded in FY23. Volumes of ore milled remained flat year on year.

Revenue increased 35% to R10 577 million (FY23: R7 845 million), mainly due to the increase in gold production supported by a higher gold price. The average gold price received increased 17% to R1 223 096/kg (FY23: R1 048 824⁄kg). Cash operating costs increased by 17% to R5 870 million (FY23: R5 002 million) on the back of annual wage and electricity tariff increases as well as significantly higher MPRDA royalties. Royalties increased by 152% to R386 million (FY23: R153 million) as revenue and profits rose significantly. Capital expenditure increased by 26% to R890 million (FY23: R704 million), mainly on major and shaft capital. A total of R464 million was spent in respect of ongoing development.

Mponeng was the largest contributor to operating free cash flow at R3 817 million in FY24, significantly higher than the R2 139 million in FY23.

Our focus area in FY25

Safety remains a top priority for the operation. Focus will be on achieving the planned build-up in the development metre profile of the life-of-mine extension project to ensure it remains on track.

ESG statistics

Lost-time injury frequency rate

8.37 per million hours worked (FY23: 8.57)

Water intensity (/tonne treated)

6.79Ml FY23: 3.23Ml

Energy intensity (/tonne treated)

1.06GWh (FY23: 1.06GWh)

GHG intensity
(/tonne treated)

1.06t CO2e (FY23: 1.10t CO2e)

Local economic development

R24m (FY23: R39m)

SLP

Mponeng SLP 2020 – 2024 (English)

Mponeng

018 700 1890
018 700 1749

Solution Centre

018 700 1710

955 Park Ave, West Wits,
Carletonville, 2499,
Gauteng, South Africa