Gold 'still has a future': Harmony hopes to deepen the world's deepest mine

accreditation
Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!
0:00
play article
Subscribers can listen to this article
Kusasalethu Harmony Gold
Kusasalethu Harmony Gold

Harmony Gold, the country's biggest producer by volume, says it will investigate a further deepening of the world's deepest mine, Mponeng, which it recently acquired from AngloGold Ashanti in a R4.4 billion transaction.

According to CEO Peter Steenkamp, taking control of the mine would allow the company to boost its gold output, as the firm believed there was still value in the sector which had been bogged down by years of decline and rising costs. 

Harmony takes control of the renowned mine and its associated assets southwest of Johannesburg on 1 October.

Support independent journalism
Subscribe to News24 for just R75 per month to read all our investigative and in-depth journalism. You can cancel any time.
Subscribe
Already a subscriber? Sign in
Rand - Dollar
14.75
-1.0%
Rand - Pound
20.26
+0.1%
Rand - Euro
17.29
+0.2%
Rand - Aus dollar
10.72
+0.1%
Rand - Yen
0.13
+0.1%
Gold
1,754.62
0.0%
Silver
22.41
0.0%
Palladium
2,019.00
0.0%
Platinum
944.00
0.0%
Brent Crude
75.34
-0.4%
Top 40
56,605
-0.9%
All Share
62,864
-0.7%
Resource 10
56,497
-3.9%
Industrial 25
81,170
+1.0%
Financial 15
14,018
+0.5%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Voting Booth
What potential restrictions on unvaccinated South Africans may make the biggest difference to public health, the economy?
Please select an option Oops! Something went wrong, please try again later.
Results
Limited access to restaurants and bars
9% - 43 votes
Limited access to shopping centres
17% - 84 votes
Limited access to live events, including sport matches and festivals
28% - 136 votes
Workplace vaccine mandates
45% - 218 votes
Vote