Gold grade from world’s deepest mine up 10% to 11.55g/t

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Mponeng Gold Mine – the world's deepest mine at a depth of 4 km with extension towards 4.22 km planned – has delivered another strong quarter, Harmony reported in its operational update for the three months ended September 30.
In the first quarter of Harmony's financial year 2027 (FY27), the recovered grade at Mponeng, near Carletonville in South Africa's Gauteng province, increased by 10% to 11.55 grams of gold per ton (g/t) and production was steady at 2 725 kg (87 611 oz).
The overall average gold price received in the quarter was a 17%-higher R2 123 588/kg ($4 057/oz).
Gold all-in sustaining costs were at the lower end of guidance, the business continued to generate strong cash flows and the Johannesburg Stock Exchange-listed gold and copper mining company remained confident of meeting FY27 guidance for production, cost and grade.
Gold revenue increased by 3% to R22.3-billion and copper revenue hit the R1 280-million mark on an average received copper price of $6.44/lb.
In line with guidance, overall group gold production was a 12%-lower 10 661 kg (342 758 oz) and 7 077 t of copper were produced. Comparable reporting period did not include Harmony's CSA copper mine.
"Five years ago, Harmony was predominantly a South African gold producer. Today, we are a higher-quality gold and copper producer operating in South Africa, Papua New Guinea and Australia, with a clear growth trajectory," Harmony CEO Beyers Nel pointed out in a release to Mining Weekly.
"Margins at our gold operations remain robust. CSA is now an established part of the group, contributing copper revenue alongside our gold," added Beyers, while pointing out that the Moab Khotsong gold mine, near the Orkney and Klerksdorp and straddling the North West and Free State provinces, is moving through its planned gold ore gap while the Eva copper project in Australia remains has passed another approval milestone on its path to production.
Production at Tshepong North gold mine increased by 23% to 1 020 kg (32 794oz) driven by higher tonnes milled and higher grades.
Harmony has attributable gold mineral reserves of 27.4-million ounces and copper mineral reserves of four-million tons.
Having completed the first quarter of FY27, group full-year gold production of 1 400 000 oz to 1 500 000 oz and 28 000 t to 30 000 t of copper are being guided.
Mponeng's life-extension programme continues to advance access to the Ventersdorp contact reef and carbon leader reef below existing infrastructure alongside the Tau Tona pillar extraction project. Together, these will access about 3.6-million ounces in reserves.
The Moab Khotsong's Zaaiplaats extension provides access to about 3.8-milloion ounces in high-grade gold resource below existing infrastructure.
Tshepong's life-extension project had a positive first quarter, with development ahead of plan, costs aligned with the overall estimate and initial construction milestones on track. The project accesses 1.1-million ounces in reserves and extends the life of the mine to 15 years while leveraging existing infrastructure.
Quarterly development of Doornkop gold mine's 207/212 life-was ahead of plan and ventilation and electrical infrastructure milestones completed. The 207/212 project is designed to replace production tonnes from existing levels and accesses 1.3-million ounces in mineral reserves. This project includes additional exploration drilling to increase the resources available for mining.
At Mine Waste Solutions surface mining operation, the Mispah 1 pump station was commissioned enablingreclamation of the 71-million tonne Mispah 1 tailings facility.
On the renewable energy front, Harmony's Sungazer 2 is progressing through phased energisation and further solar and battery-storage projects are...