(Kitco News) - Harmony Gold Mining (NYSE: HMY), a senior diversified gold producer, announced today that key regulatory approvals were obtained to allow the company to proceed with its Kareerand expansion project to ensure the continued retreatment of surface depositions at Mine Waste Solutions.
Mine Waste Solutions was acquired by Harmony in October 2020. It is a reclamation operation in the Stilfontein/Orkney area in the North West province in South Africa, which treats 2.2 million tonnes per month from historical tailings facilities through the Mine Waste Solution plant.
The company explained that residue is then deposited on the existing Kareerand tailings storage facility, which is running out of tailings deposition capacity, thus necessitating building an extended tailings dam ("the Kareerand Expansion Project").
According to the company's statement, the Kareerand Expansion Project is expected to produce approximately 100,000 ounces of gold per annum and add 16 years' life of mine.
"The Kareerand Expansion Project is yet another example of "Mining with Purpose." This low risk, low cost operation will ensure healthy returns for investors, the creation of jobs for another 16 years and the rehabilitation and restoration of land in the area," said CEO Peter Steenkamp.
Harmony Gold has operations and assets in South Africa and Papua New Guinea (PNG). The company's assets include one open pit mine and several exploration tenements in PNG, as well as 10 underground mines and 1 open pit operation and several surface sources in South Africa. In addition, Harmony owns 50% of the significant Wafi-Golpu copper-gold project – a tier 1 asset in a joint venture in PNG.
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