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

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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.

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