Wafi Mining Limited and Newmont Corporation, both established under the laws of Papua New Guinea are 50:50 participants in the unincorporated Wafi-Golpu Joint Venture. The ultimate parent company of Wafi Mining Limited is Harmony Gold Mining Company Limited. The ultimate parent company of Newmont Mining is Newmont Corporation.
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Harmony Gold Mining Company Limited
Harmony Gold Mining Company Limited (Harmony), a gold mining and exploration company, conducts its activities in South Africa, one of the world's best-known gold mining regions, and in Papua New Guinea, one of the world's premier new gold-copper regions. Harmony, which has more than six decades of experience, was South Africa's third largest gold producer in FY17.
Harmony’s primary listing is on the Johannesburg stock exchange (JSE) and on the New York stock exchange, on which its shares are quoted as American Depositary Receipts.
Harmony’s operations in South Africa comprise nine underground mines and several surface operations, focused on the world-renowned Witwatersrand Basin. In addition, we have an open pit mine on the Kraaipan Greenstone Belt.
In Papua New Guinea, Harmony operates the Hidden Valley open-pit gold and silver mine and has a 50:50 joint venture participating interest with Newcrest Mining Limited in the Wafi-Golpu project, both of which are located in the Morobe Province.
In addition, Harmony has a wholly-owned exploration portfolio that focuses on highly prospective areas in Papua New Guinea, including the Kili Teke gold-copper prospect in the Hela Province.
Further information on Harmony can be found on its website at www.harmony.co.za
Newmont Corporation
Newmont is the world’s leading gold company and a producer of copper, silver, zinc and lead. The Company’s world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in North America, South America, Australia and Africa. Newmont is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social and governance practices. The Company is an industry leader in value creation, supported by robust safety standards, superior execution and technical proficiency. Newmont was founded in 1921 and has been publicly traded since 1925.
Newmont shares are listed on the New York Stock Exchange (NYSE) and the Toronto Stock Exchange (TSX) and its headquarters is in Denver, Colorado, United States of America. Newmont has spent about century primarily in the natural resources industry, mining gold, copper, silver, lead, zinc, lithium, uranium, coal, nickel and aggregates, and even developing oil and gas.
Newmont’s existing interests in Papua New Guinea include the Lihir Gold Mine (Newmont, 100%); the WGJV (Newmont 50%); and the Morobe exploration unincorporated joint venture (Newmont 50%), as well as a prospective early stage exploration project at Wamum.
During the year ended 30 June 2022, Newmont produced 6.0Moz of gold (FY21: 6.0Moz). For the year ended 30 June 2022, Newmont generated total sales revenue of USD11.9 billion (FY21: 12.2 billion).
More information regarding Newmont is available on request or on Newmont’s website at www.newmont.com
Technical Capability
The Wafi-Golpu Joint Venture brings together the combined experience and technical resources of both Harmony Gold Mining Company Limited and Newmont Corporation, delivering extensive experience in exploration and capital project development activities, including underground and open pit mining methods.
The combined experience of Harmony Gold Mining Company Limited and Newmont Corporation in underground mining, with established large underground mining operations in South Africa, in the case of Harmony, and North America, South America, Australia and Africa, in the case of Newmont, is of importance to the Wafi-Golpu Joint Venture in the potential development of the Wafi-Golpu Project, particularly in the bulk underground mining technology known as block caving.