Harmony Gold Mining Company
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About Harmony Gold Mining Company
Harmony Gold Mining Company (HMY) is a gold mining company. Our project database tracks 64 projects for Harmony Gold Mining Company with technical and economic data extracted from company filings. Its flagship Target Gold Mine (Feasibility) carries an after-tax NPV of ZAR 1.52B over a 5-year mine life.
Overview
Harmony Gold Mining Company is a South African-based gold mining company with operations in South Africa and Papua New Guinea. As one of South Africa's largest gold producers, Harmony has extensive experience in both underground and surface mining operations. The company has successfully consolidated assets in South Africa while diversifying internationally through the acquisition of the Hidden Valley mine in PNG.
Operations
Harmony operates nine underground operations and one open-pit operation in South Africa across the Witwatersrand Basin and Free State goldfields, producing from some of the world's deepest gold mines. The company also operates the Hidden Valley gold-silver mine in Papua New Guinea. Harmony produces approximately 1.5 million ounces of gold annually and has significant mineral resources for long-term production.
Strategy
The company's strategy emphasizes safe mining practices in challenging deep underground environments, optimizing its South African asset base through operational improvements and cost management, extending mine life through brownfield exploration and development, growing production from Hidden Valley and pursuing additional international opportunities, and maintaining financial flexibility to navigate the gold price cycle.
Key Projects
Major projects include the Zaaiplaats project (construction underway to access high-grade ore zones at Moab Khotsong), Mine Waste Solutions treating historical tailings, Golpu copper-gold project in Papua New Guinea (JV with Newcrest, one of the world's largest undeveloped copper-gold deposits), and ongoing exploration programs targeting mine life extensions at South African operations.
Primary Commodities
GoldSilver
Project Economics
CSA Copper Mine
Copper· Australia· Production
Production
Jun 2026
Annual Production18,000 t Cu
Ownership100%
Source: Company presentation
Harmony Gold Mining Company (Group)
Gold· South Africa, Papua New Guinea, Australia· Production
Production
Jun 2026
Annual Production1,450,000 oz Au
Head Grade5.80 g/t Au
Ownership100%
Source: Company presentation
Harmony Gold (Corporate)
· Production
Production
Source: Company presentation
Unknown - This page is a CSR/social story about a science lab donation, not a mining project.
Source: Company presentation
Doornkop Mine
Gold· South Africa, Gauteng Province (south of Krugersdorp, 30km west of Johannesburg)· Production
Production
Oct 2024
Recovery96.7%
Mine TypeUnderground (Sequential Grid Mining)
Ownership100%
Contained Metal109.6 t Au (109,578 kg Au, M&I)
- Mineral Reserves
- P&P reserves not stated in provided sections
- Mineral Resources
- M&I: 31.561 Mt @ 3.47 g/t Au for 109,578 kg Au; Inferred: 12.126 Mt @ 4.15 g/t Au for 50,357 kg Au (exclusive of Mineral Reserves)
Source: Technical report
Kalgold Mine
Gold· North West Province, South Africa· Production
Feasibility
Oct 2024
Annual Production1,300 kg Au
Mine TypeOpen-pit
Ownership100%
Contained Metal29,762 kg Au
- Mineral Resources
- Measured 8.928 Mt @ 1.15 g/t Au = 10,223 kg; Indicated 14.715 Mt @ 1.33 g/t Au = 19,538 kg; M&I 23.643 Mt @ 1.26 g/t Au = 29,762 kg; Inferred 31.688 Mt @ 0.60 g/t Au = 18,855 kg
Source: Technical report
Tshepong South
Gold· Free State Province, South Africa· Production
Feasibility
Oct 2024
Mine TypeUnderground
Ownership100%
- Mineral Reserves
- P&P: 2.584 Mt @ 7.94 g/t, 20,521 kg (Proved 2.355 Mt @ 8.02 g/t; Probable 0.229 Mt @ 7.08 g/t)
- Mineral Resources
- M&I: 14.843 Mt @ 11.80 g/t, 175,202 kg; Inferred: 22.799 Mt @ 11.03 g/t, 251,447 kg
Source: Technical report
Tshepong South (Phakisa)
Gold· Free State Province, South Africa· Production
Feasibility
Oct 2024
Head Grade7.94 g/t Au (Proved + Probable reserve grade)
Mine TypeUnderground
Ownership100%
Contained Metal426,649 kg Au (M&I + Inferred)
- Mineral Reserves
- Proved + Probable: 2.584 Mt @ 7.94 g/t Au for 20,521 kg Au (7.94 g/t, 20,521 kg)
- Mineral Resources
- Measured + Indicated: 14.843 Mt @ 11.80 g/t Au for 175,202 kg Au; Inferred: 22.799 Mt @ 11.03 g/t Au for 251,447 kg Au (exclusive of Mineral Reserves)
Source: Technical report
Target Gold Mine
Gold· Free State Province, South Africa· Production
Feasibility
Oct 2024
NPV (After-Tax) @ 9%ZAR 1.52B
Mine Life5 yrs
Head Grade4.46 g/t
Ownership100%
- Mineral Reserves
- Target has a five-year Mineral Reserve; schedule expected to produce 3.61Mt at a grade of 4.46g/t
- Mineral Resources
- Measured 4.814 Mt @ 8.41 g/t = 40,488 kg; Indicated 3.890 Mt @ 6.82 g/t = 26,538 kg; Measured+Indicated 8.704 Mt @ 7.70 g/t = 67,025 kg; Inferred 3.868 Mt @ 5.75 g/t = 22,237 kg
Source: Technical report
Mponeng Mine
Gold· Carletonville, Gauteng, South Africa· Production
Resource Estimate
Aug 2024
Source: Technical report
Mine Waste Solutions (MWS) Operation
Gold· Free State - North West Provincial border, South Africa· Production
Production
Jun 2024
Annual Production95,000 oz Au
Mine TypeSurface (tailings reclamation)
Ownership100%
Source: Technical report
Tshepong South Mine (Phakisa)
Gold· Free State Province, South Africa (between Welkom and Odendaalsrus)· Production
Production
Jun 2024
Mine TypeUnderground
Ownership100%
Contained Metal175,202 kg Au
- Mineral Reserves
- Proved: 2.355 Mt @ 8.02 g/t Au for 18,900 kg Au; Probable: 0.229 Mt @ 7.08 g/t Au for 1,621 kg Au; Total P&P: 2.584 Mt @ 7.94 g/t Au for 20,521 kg Au
- Mineral Resources
- Measured: 6.155 Mt @ 12.80 g/t Au for 78,768 kg Au; Indicated: 8.687 Mt @ 11.10 g/t Au for 96,434 kg Au; M&I: 14.843 Mt @ 11.80 g/t Au for 175,202 kg Au; Inferred: 22.799 Mt @ 11.03 g/t Au for 251,447 kg Au
Source: Technical report
Wafi-Golpu (Golpu)
Copper, Gold· Morobe Province, Papua New Guinea
Mine TypeUnderground (block cave)
Source: Technical report
Wafi-Golpu
Copper-Gold· Morobe Province, Papua New Guinea· Development
Feasibility
Jun 2024
Mine TypeUnderground (block cave)
Source: Technical report
Target Gold Mine (Target 1 deposit)
Gold· Free State Province, South Africa· Production
Feasibility
Jun 2024
NPV (After-Tax) @ 9%ZAR 1.52B
Mine Life5 yrs
Head Grade4.46 g/t
Ownership100%
- Mineral Resources
- M&I: 8.704 Mt at 7.70 g/t for 67,025 kg Au; Inferred: 3.868 Mt at 5.75 g/t for 22,237 kg Au
Source: Technical report
Moab Khotsong Operations
Gold· Free State Province, South Africa· Production
Feasibility
Jun 2024
Mine TypeUnderground
Ownership100%
Contained Metal95,312 kg Au
- Mineral Resources
- Measured: 2.938 Mt @ 17.32 g/t Au (50,895 kg Au); Indicated: 2.888 Mt @ 15.38 g/t Au (44,417 kg Au), 5.826 Mt @ 1.17 kg/t U (6,817,224 kg U); Measured + Indicated: 5.826 Mt @ 16.36 g/t Au (95,312 kg Au); Inferred: 2.703 Mt @ 18.16 g/t Au (49,098 kg Au), 2.703 Mt @ 0.71 kg/t U (1,925,445 kg U)
Source: Technical report
West Wits Operation
Gold· West Rand region, Gauteng Province, South Africa· Production
Production
Jun 2024
Mine TypeSurface (tailings and waste rock reclamation)
Ownership100%
- Royalties / Streams
- Gold-streaming arrangement: Franco-Nevada Corporation (section 16.4.4)
Source: Technical report
Mine Waste Solutions (MWS) and West Wits Operations
Gold· North West and Gauteng Provinces, South Africa· Production
Resource Estimate
Jun 2024
Annual Production95,000 oz Au
Source: Technical report
Tshepong North
Gold· Free State Province, South Africa· Production
Feasibility
Jun 2024
Recovery95.3%
Mine TypeUnderground
Ownership100%
- Mineral Reserves
- Proved + Probable: 4.999 Mt @ 5.09 g/t Au for 25,430 kg Au (Imperial: 5.510 Mt @ 0.148 oz/t for 0.818 Moz Au)
- Mineral Resources
- Measured + Indicated: 16.609 Mt @ 12.01 g/t Au for 199,460 kg Au; Inferred: 7.926 Mt @ 10.16 g/t Au for 80,495 kg Au (exclusive of Mineral Reserves)
Source: Technical report
Kalgold - Mineral Reserve economic analysis
Gold· North West Province, South Africa· Production
Pre-Feasibility
Jun 2023
Mine TypeOpen-pit
Source: Technical report
Eva Copper Project
Copper· North West Queensland, Australia· Development
Feasibility
Jun 2023
Head Grade0.43% Cu (M&I), 0.07 g/t Au (M&I); 0.40% Cu (Inferred), 0.07 g/t Au (Inferred)
Mine TypeOpen-pit
Ownership100%
Contained Metal3,290 Mlb Cu (M&I + Inferred)
- Mineral Reserves
- No Mineral Reserves declared (— Proven and Probable)
- Mineral Resources
- Measured & Indicated: 275.3 Mt @ 0.43% Cu, 0.07 g/t Au containing 2,588 Mlb Cu and 355 koz Au; Inferred: 79.5 Mt @ 0.40% Cu, 0.07 g/t Au containing 702 Mlb Cu and 80 koz Au
- Royalties / Streams
- 1.5% NSR applicable to Little Eva, Blackard, Scanlan, Turkey Creek, Bedford, and Lady Clayre deposits; 2% NSR applicable to Ivy Ann deposit; Queensland State Government ad valorem royalty 2.5% to 5.0% on copper and gold
Source: Technical report
Joel Mine
Gold· Free State Province, South Africa· Production
Production
Jul 2022
Initial CapexZAR 726M
Mine Life8 yrs
Mine TypeUnderground
Ownership100%
Contained Metal34,474 kg Au
- Mineral Reserves
- Proved 2.781 Mt @ 5.01 g/t Au (13,941 kg Au); Probable 0.954 Mt @ 4.85 g/t Au (4,631 kg Au); Total P&P 3.735 Mt @ 4.97 g/t Au (18,572 kg Au)
- Mineral Resources
- Measured 1.650 Mt @ 9.17 g/t Au (15,138 kg Au); Indicated 2.794 Mt @ 6.92 g/t Au (19,336 kg Au); Total M&I 4.444 Mt @ 7.76 g/t Au (34,474 kg Au); Inferred 7.043 Mt @ 5.11 g/t Au (35,954 kg Au)
Source: Technical report
Wafi-Golpu Project (Golpu)
Gold· Morobe Province, Papua New Guinea· Development
Feasibility
Jul 2022
Source: Technical report
Hidden Valley Mine
Gold· Morobe Province, Papua New Guinea· Production
Feasibility
Jul 2022
Mine TypeOpen-pit
Ownership100%
Source: Technical report
Phakisa Mine (Tshepong Operations)
Gold· Free State Province, South Africa (Free State Goldfield, between Welkom and Odendaalsrus)· Production
Mine TypeUnderground
Ownership100%
- Mineral Resources
- Measured 4.741 Mt @ 13.25 g/t Au (62,797 kg Au); Indicated 7.264 Mt @ 11.27 g/t Au (81,831 kg Au); Total M+I 12.005 Mt @ 12.05 g/t Au (144,627 kg Au); Inferred 27.491 Mt @ 10.77 g/t Au (295,943 kg Au)
Source: Technical report
Phoenix Project
Gold· Free State Province, South Africa· Production
Production
Jun 2022
Mine TypeSurface tailings reclamation
Ownership76%
Contained Metal5,855 kg Au
- Mineral Resources
- Measured: 21.852 Mt @ 0.27 g/t Au for 5,855 kg Au (Phoenix Project)
Source: Technical report
Tshepong Operations
Gold· Free State Province, South Africa· Production
Resource Estimate
Jun 2022
Mine TypeUnderground
Ownership100%
Contained Metal288,049 kg Au
- Mineral Resources
- Phakisa (exclusive of reserves): Measured 4.741 Mt @ 13.25 g/t Au (62,797 kg Au); Indicated 7.264 Mt @ 11.27 g/t (81,831 kg); M&I 12.005 Mt @ 12.05 g/t (144,627 kg); Inferred 27.491 Mt @ 10.77 g/t (295,943 kg). Tshepong (exclusive of reserves): Measured 12.484 Mt @ 12.13 g/t (151,437 kg); Indicated 3.977 Mt @ 10.20 g/t (40,575 kg); M&I 16.462 Mt @ 11.66 g/t (192,012 kg); Inferred 9.43 Mt @ 10.18 g/t (96,037 kg).
Source: Technical report
Phoenix Project (Free State Surface Operations)
Gold· Free State Province, South Africa (near Welkom and Virginia)· Production
Production
Jun 2022
Mine TypeSurface (TSF reclamation)
Ownership76%
- Mineral Resources
- TSF Mineral Resources (exclusive of Mineral Reserves): Measured 21.852 Mt @ 0.27 g/t Au for 5,855 kg Au; Total Measured + Indicated 104.640 Mt @ 0.27 g/t Au for 28,342 kg Au; Inferred 15.459 Mt @ 0.19 g/t Au for 2,937 kg Au
Source: Technical report
Tshepong Operations (Phakisa Mine)
Gold· Free State Province, South Africa· Production
Production
Jun 2022
Mine TypeUnderground
Ownership100%
Contained Metal144,627 kg Au (M&I)
- Mineral Resources
- Phakisa (exclusive of Mineral Reserves): Measured 4.741 Mt @ 13.25 g/t Au (62,797 kg Au); Indicated 7.264 Mt @ 11.27 g/t Au (81,831 kg Au); M&I 12.005 Mt @ 12.05 g/t Au (144,627 kg Au); Inferred 27.491 Mt @ 10.77 g/t Au (295,943 kg Au). Cut-off 780 cmg/t at 90% profit guidance, gold price USD1,723/oz.
Source: Technical report
Tshepong Mine (Tshepong Operations)
Gold· Free State Province, South Africa (Free State Goldfield, between Welkom and Odendaalsrus)· Production
Mine TypeUnderground
Ownership100%
- Mineral Resources
- Measured 12.484 Mt @ 12.13 g/t Au (151,437 kg Au); Indicated 3.977 Mt @ 10.20 g/t Au (40,575 kg Au); Total M+I 16.462 Mt @ 11.66 g/t Au (192,012 kg Au); Inferred 9.43 Mt @ 10.18 g/t Au (96,037 kg Au)
Source: Technical report
Tshepong Operations (combined Tshepong Mine and Phakisa Mine)
Gold· Free State Province, South Africa· Production
Production
Jun 2022
Ownership100%
- Mineral Resources
- Phakisa: Measured 4.741 Mt @ 13.25 g/t Au (62,797 kg Au); Indicated 7.264 Mt @ 11.27 g/t Au (81,831 kg Au); M&I 12.005 Mt @ 12.05 g/t Au (144,627 kg Au); Inferred 27.491 Mt @ 10.77 g/t Au (295,943 kg Au). Tshepong: Measured 12.484 Mt @ 12.13 g/t Au (151,437 kg Au); Indicated 3.977 Mt @ 10.20 g/t Au (40,575 kg Au); M&I 16.462 Mt @ 11.66 g/t Au (192,012 kg Au); Inferred 9.43 Mt @ 10.18 g/t Au (96,037 kg Au).
Source: Technical report
WRDs (Waste Rock Dumps)
Gold· Free State Province, South Africa (Welkom and Virginia area)· Production
Production
Jun 2022
Mine TypeSurface (waste rock dump reclamation)
Ownership100%
Source: Technical report
Tshepong Operations (Phakisa Mine and Tshepong Mine)
Gold· Free State Province, South Africa (between Welkom and Odendaalsrus)· Production
Ownership100%
Source: Technical report
Tshepong Operations - Phakisa (Mineral Resources)
Gold· Free State Province, South Africa· Production
Resource Estimate
Jun 2022
Ownership100%
Contained Metal144,627 kg Au
- Mineral Resources
- Phakisa: Measured 4.741 Mt @ 13.25 g/t Au (62,797 kg); Indicated 7.264 Mt @ 11.27 g/t Au (81,831 kg); Measured+Indicated 12.005 Mt @ 12.05 g/t Au (144,627 kg); Inferred 27.491 Mt @ 10.77 g/t Au (295,943 kg)
Source: Technical report
Tshepong Operations (Phakisa & Tshepong Mines)
Gold· Free State Province, South Africa· Production
Resource Estimate
Jun 2022
Mine TypeUnderground
Ownership100%
- Royalties / Streams
- Held in joint venture between African Rainbow Minerals Limited (ARM) Gold Division (ARMGold) and Harmony; wholly owned by Harmony.
Source: Technical report
Tshepong Operations (Tshepong Mine)
Gold· Free State Province, South Africa· Production
Resource Estimate
Jun 2022
Mine TypeUnderground
Ownership100%
Contained Metal192,012 kg Au (M&I)
- Mineral Resources
- Phakisa: Measured 4.741 Mt @ 13.25 g/t Au (62,797 kg); Indicated 7.264 Mt @ 11.27 g/t Au (81,831 kg); M&I 12.005 Mt @ 12.05 g/t Au (144,627 kg); Inferred 27.491 Mt @ 10.77 g/t Au (295,943 kg)
Source: Technical report
Tshepong Operations - Tshepong (Mineral Resources)
Gold· Free State Province, South Africa· Production
Resource Estimate
Jun 2022
Ownership100%
Contained Metal192,012 kg Au
- Mineral Resources
- Tshepong: Measured 12.484 Mt @ 12.13 g/t Au (151,437 kg); Indicated 3.977 Mt @ 10.20 g/t Au (40,575 kg); Measured+Indicated 16.462 Mt @ 11.66 g/t Au (192,012 kg); Inferred 9.43 Mt @ 10.18 g/t Au (96,037 kg)
Source: Technical report
Waste Rock Dumps (WRDs) - Free State Surface Operations
Gold· Free State Province, South Africa (Welkom and Virginia area)· Production
Production
Jun 2022
Mine TypeSurface (WRD mining)
Ownership100%
Source: Technical report
Central Plant Reclamation
Gold· Free State Province, South Africa· Production
Production
Jun 2022
Mine TypeSurface tailings reclamation
Ownership100%
Source: Technical report
Free State Surface Operations - WRD
Gold· Free State Province, South Africa
Pre-Feasibility
Jun 2022
Mine TypeWaste rock dump reclamation
Source: Technical report
Central Plant Reclamation (Free State Surface Operations)
Gold· Free State Province, South Africa (near Welkom and Virginia)· Production
Production
Jun 2022
Mine TypeSurface (TSF reclamation)
Ownership100%
- Mineral Resources
- TSF Mineral Resources: Measured -, Indicated -, Inferred - (none stated)
Source: Technical report
Free State Surface Operations
Gold· Near Welkom and Virginia, Free State Province, South Africa· Production
Resource Estimate
Jun 2022
Ownership100%
Contained Metal28,342 kg Au (Measured & Indicated)
- Mineral Resources
- TSF Mineral Resources as at 30 June 2022 (exclusive of Mineral Reserves): Measured 104.640 Mt at 0.27 g/t Au for 28,342 kg Au; Inferred 15.459 Mt at 0.19 g/t Au for 2,937 kg Au
Source: Technical report
Free State Surface Operations – Central Plant Reclamation
Gold· Near Welkom and Virginia, Free State Province, South Africa· Production
Production
Jun 2022
Mine TypeSurface tailings reclamation (TSF)
Ownership100%
Source: Technical report
Free State Surface Operations – Free State Tailings
Gold· Near Welkom and Virginia, Free State Province, South Africa· Development
Pre-Feasibility
Jun 2022
Mine TypeSurface tailings reclamation (TSF)
Ownership100%
Contained Metal22,487 kg Au
- Mineral Resources
- Measured: 82.788 Mt @ 0.27 g/t Au for 22,487 kg Au (Free State Tailings); Total M&I: 104.640 Mt @ 0.27 g/t Au for 28,342 kg Au; Inferred: 15.459 Mt @ 0.19 g/t Au for 2,937 kg Au
Source: Technical report
Free State Surface Operations – Phoenix Project
Gold· Near Welkom and Virginia, Free State Province, South Africa· Production
Production
Jun 2022
Mine TypeSurface tailings reclamation (TSF)
Ownership76%
Source: Technical report
Free State Surface Operations (Phoenix Project, Central Plant Reclamation, Free State Tailings, WRDs)
Gold· Near Welkom and Virginia, Free State Province, South Africa· Production (Phoenix & Central Plant Reclamation); PFS (Free State Tailings)
Mine TypeSurface (tailings storage facility and waste rock dump reclamation)
Ownership100%
Contained Metal2,937 kg Au (Inferred TSFs; M&I 28,342 kg Au)
- Mineral Resources
- TSF Mineral Resources (exclusive of Mineral Reserves) as at 30 June 2022: Measured 104.640 Mt @ 0.27 g/t Au for 28,342 kg Au; Indicated 0.000 Mt; Measured + Indicated 104.640 Mt @ 0.27 g/t Au for 28,342 kg Au; Inferred 15.459 Mt @ 0.19 g/t Au for 2,937 kg Au. (WRD resources summarized separately in Table 1-2, values not captured in provided text.)
Source: Technical report
Free State Surface Operations (TSF)
Gold· Free State Province, South Africa (near Welkom and Virginia)· Production
Resource Estimate
Jun 2022
Mine TypeSurface reclamation (TSF)
- Mineral Resources
- Measured: 104.640 Mt @ 0.27 g/t Au for 28,342 kg Au; Inferred: 15.459 Mt @ 0.19 g/t Au for 2,937 kg Au (TSFs, exclusive of Mineral Reserves, as at 30 June 2022)
Source: Technical report
Free State Surface Operations - TSF Mineral Resources
Gold· Welkom and Virginia, Free State Province, South Africa· Production
Resource Estimate
Jun 2022
Mine TypeSurface (Tailings reclamation)
Contained Metal31,279 kg Au
- Mineral Resources
- Measured: 104.640 Mt @ 0.27 g/t Au for 28,342 kg Au; Inferred: 15.459 Mt @ 0.19 g/t Au for 2,937 kg Au
Source: Technical report
Free State Surface Operations (TSF & WRD)
Gold· Free State Province, South Africa (near Welkom and Virginia)· Production
Resource Estimate
Jun 2022
Mine TypeSurface (tailings reclamation and waste rock dump)
Ownership100%
Contained Metal31,279 kg Au
- Mineral Resources
- TSF: Total M&I 104.640 Mt @ 0.27 g/t Au for 28,342 kg Au; Inferred 15.459 Mt @ 0.19 g/t Au for 2,937 kg Au (exclusive of Mineral Reserves)
Source: Technical report
Phakisa Mine
Gold· Free State Province, South Africa· Production
Production
Jun 2022
Mine TypeUnderground
Ownership100%
Contained Metal441,570 kg Au
- Mineral Resources
- M&I: 12.005 Mt @ 12.05 g/t Au (144,627 kg Au); Inferred: 27.491 Mt @ 10.77 g/t Au (295,943 kg Au) — exclusive of Mineral Reserves
Source: Technical report
Free State Surface Operations WRDs
Gold· Free State Province, South Africa· Production
Production
Jun 2022
Mine TypeSurface waste rock dump processing
Ownership100%
Source: Technical report
Free State Tailings
Gold· Free State Province, South Africa· Development
Pre-Feasibility
Jun 2022
Mine TypeSurface tailings reclamation
Ownership100%
Contained Metal25,424 kg Au
- Mineral Resources
- Measured: 82.788 Mt @ 0.27 g/t Au for 22,487 kg Au; Inferred: 15.459 Mt @ 0.19 g/t Au for 2,937 kg Au
Source: Technical report
Free State Tailings (Free State Surface Operations)
Gold· Free State Province, South Africa (near Welkom and Virginia)· Development
Pre-Feasibility
Jun 2022
Mine TypeSurface (TSF reclamation)
Ownership100%
- Mineral Resources
- TSF Mineral Resources (exclusive of Mineral Reserves): Measured 82.788 Mt @ 0.27 g/t Au for 22,487 kg Au; Inferred 15.459 Mt @ 0.19 g/t Au for 2,937 kg Au
Source: Technical report
Hidden Valley Mine (HVK and Hamata)
Gold· Morobe Province, Papua New Guinea· Production
Production
Jun 2022
Mine TypeOpen-pit
Ownership100%
Source: Technical report
Hidden Valley Mine (HVK & Hamata)
Gold· Morobe Province, Papua New Guinea· Production
Production
Jun 2022
Mine TypeOpen-pit
Ownership100%
Source: Technical report
Kusasalethu Mine
Gold· South Africa, Gauteng Province (West Wits mining district, southwest of Johannesburg)· Production
Production
Jun 2022
Head Grade9.67 g/t Au (M&I resource); 6.97 g/t Au (P&P reserve)
Mine TypeUnderground (deep underground; Sequential Grid Mining)
Ownership100%
Contained Metal92,239 kg Au (Measured & Indicated)
- Mineral Reserves
- Total (Proved + Probable): 1.343 Mt at 6.97 g/t Au for 9,363 kg Au (1.481 Mt at 0.203 oz/t for 0.301 Moz)
- Mineral Resources
- Measured + Indicated: 9.535 Mt at 9.67 g/t Au for 92,239 kg Au; Inferred: 2.025 Mt at 8.85 g/t Au for 17,927 kg Au
Source: Technical report
Mine Waste Solutions (MWS) - MWS Operation
Gold· Free State / North West Province border, South Africa· Production
Production
Jun 2022
Source: Technical report
Moab Khotsong Operations (Moab Khotsong Mine & Great Noligwa Mine)
Gold· Free State Province, South Africa· Production
Feasibility
Jun 2022
Mine TypeUnderground (deep-level gold mine, 2–3 km depth)
Ownership100%
Contained Metal100,072 kg Au (M&I)
- Mineral Reserves
- Proved 2.690 Mt @ 7.48 g/t Au for 20,117 kg Au; Probable 11.984 Mt @ 8.78 g/t Au for 105,250 kg Au; Total P&P 14.675 Mt @ 8.54 g/t Au for 125,367 kg Au (as at 30 June 2022)
- Mineral Resources
- Measured 2.331 Mt @ 17.64 g/t Au for 41,110 kg Au; Indicated 3.476 Mt @ 16.96 g/t Au for 58,962 kg Au; Total M&I 5.807 Mt @ 17.23 g/t Au for 100,072 kg Au; Inferred 2.555 Mt @ 19.09 g/t Au for 48,762 kg Au (exclusive of Mineral Reserves)
Source: Technical report
Moab Khotsong Operations (Moab Khotsong Mine, Great Noligwa Mine, Zaaiplaats)
Gold· Free State Province, South Africa· Production
Feasibility
Jun 2022
Mine TypeUnderground
Ownership100%
Contained Metal125,367 kg Au
- Mineral Reserves
- Proved 2.690 Mt @ 7.48 g/t Au for 20,117 kg Au (0.647 Moz); Probable 11.984 Mt @ 8.78 g/t Au for 105,250 kg Au (3.384 Moz); Total P+P 14.675 Mt @ 8.54 g/t Au for 125,367 kg Au (4.031 Moz)
- Mineral Resources
- Measured 2.331 Mt @ 17.64 g/t Au for 41,110 kg Au; Indicated 3.476 Mt @ 16.96 g/t Au for 58,962 kg Au; Total M+I 5.807 Mt @ 17.23 g/t Au for 100,072 kg Au; Inferred 2.555 Mt @ 19.09 g/t Au for 48,762 kg Au
Source: Technical report
MWS Operation
Gold· Free State - North West Province border, South Africa· Production
Resource Estimate
Jun 2022
Source: Technical report
Free State Surface Operations - TSFs
Gold· Free State Province, South Africa· Production
Production
Jun 2022
Source: Technical report
Free State Surface Operations - TSF Total
Gold· Free State Province, South Africa (near Welkom/Virginia)· Production
Production
Jun 2022
- Mineral Resources
- Measured + Indicated: 104.640 Mt at 0.27 g/t Au for 28,342 kg Au; Inferred: 15.459 Mt at 0.19 g/t Au for 2,937 kg Au (TSF Mineral Resources as at 30 June 2022, exclusive of Mineral Reserves)
Source: Technical report
Moab Khotsong Operations (Moab Khotsong Mine and Great Noligwa Mine)
Gold· Free State Province, South Africa· Production
Feasibility
Jun 2022
Mine TypeUnderground
Ownership100%
Contained Metal100,072 kg Au
- Mineral Reserves
- Proved + Probable: 14.675 Mt at 8.54 g/t Au for 125,367 kg Au (net delivered to mills, recovered gold content after taking...)
- Mineral Resources
- Measured + Indicated: 5.807 Mt at 17.23 g/t Au for 100,072 kg Au; Inferred: 2.555 Mt at 19.09 g/t Au for 48,762 kg Au (exclusive of Mineral Reserves)
Source: Technical report
Free State Surface Operations – Free State Tailings (TSF)
Gold· Free State Province, South Africa· Development
Pre-Feasibility
Jun 2022
Ownership100%
Contained Metal31,379 kg Au
- Mineral Resources
- TSF Measured: 104.640 Mt @ 0.27 g/t Au for 28,342 kg Au (includes Free State Tailings 82.788 Mt @ 0.27 g/t for 22,487 kg; Phoenix 21.852 Mt @ 0.27 g/t for 5,855 kg); Inferred: 15.459 Mt @ 0.19 g/t Au for 2,937 kg Au
Source: Technical report
Source: Technical report
Project figures are automatically extracted from company filings and presentations and reflect the most recent disclosure found. They may contain errors — always verify against the linked source document.
How the Economics Evolved
Joel Mine
4 studies on recordProduction
Jun 2022
Capex $50M
Resource Estimate
Jun 2022
Capex $47M
Production
Jun 2022
Capex $50M
Production
Jun 2022
Capex $47M
Target Gold Mine
24 studies on recordProduction
Jun 2022
Capex $82M
Production
Jun 2022
Capex $82M
Feasibility
Jun 2024
$81M
Feasibility
Jun 2024
$81M
Feasibility
Jun 2024
$81M
Feasibility
Jun 2024
$81M
Feasibility
Jun 2024
$81M
Feasibility
Jun 2024
$81M
Feasibility
Jun 2024
$81M
Feasibility
Jun 2024
$81M
Feasibility
Jun 2024
$81M
Feasibility
Jun 2024
$81M
Feasibility
Jun 2024
$81M
Feasibility
Jun 2024
$81M
Feasibility
Jun 2024
$81M
Feasibility
Jun 2024
$81M
Feasibility
Jun 2024
$81M
Feasibility
Jun 2024
$81M
Feasibility
Jun 2024
$81M
Feasibility
Jun 2024
$81M
Feasibility
Jun 2024
$81M
Feasibility
Jun 2024
$81M
Feasibility
Jun 2024
$81M
Feasibility
Oct 2024
$88M(+8%)
Target Gold Mine (Target 1 deposit)
3 studies on recordProduction
Jun 2022
Capex $82M
Feasibility
Jun 2024
$81M
Feasibility
Jun 2024
$81M
Economics as disclosed in each successive study. NPV shown in US$ where a currency conversion is available (at each study's own period rate), else in the study's stated currency. Verify against the source filings.
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Financial Metrics
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Frequently Asked Questions
- What does Harmony Gold Mining Company mine?
- Harmony Gold Mining Company is focused on Gold, Silver.
- What is the economic value of Harmony Gold Mining Company's Target Gold Mine?
- According to its Feasibility, Target Gold Mine has an after-tax NPV of ZAR 1.52B.
- How many projects does Harmony Gold Mining Company have?
- We track 64 projects with extracted technical and economic data for Harmony Gold Mining Company.
Project Analysis
ANALYSISGOLDFEASIBILITY STUDY
Target Gold Mine (Target 1 deposit) Feasibility Study: ZAR 1.52B NPV Over a 5-Year Mine Life
Harmony Gold Mining Company's Target Gold Mine (Target 1 deposit) in Free State Province, South Africa has a Feasibility Study outlining an after-tax NPV of ZAR 1.52B. The proposed mine plan runs 5 years.
Harmony Gold Mining CompanyOct 2, 2026
ANALYSISGOLDRESOURCE ESTIMATE
Joel Mine Resource Estimate: ZAR 726M Capex Over a 8-Year Mine Life
Harmony Gold Mining Company's Joel Mine in Free State Province, South Africa has a Mineral Resource Estimate outlining initial capital of ZAR 726M. The proposed mine plan runs 8 years.
Harmony Gold Mining CompanyJul 31, 2026
ANALYSISGOLDFEASIBILITY STUDY
Target Gold Mine Feasibility Study: ZAR 1.52B NPV Over a 5-Year Mine Life
Harmony Gold Mining Company's Target Gold Mine in Free State Province, South Africa has a Feasibility Study outlining an after-tax NPV of ZAR 1.52B. The proposed mine plan runs 5 years.
Harmony Gold Mining CompanyJul 31, 2026
Press Releases
PRESS RELEASE
Hall Chadwick Acquisition Corp Announces Definitive Business Combination with REEcycle Holdings, Inc.
Transaction Creates the First Publicly Listed U.S. Rare Earth Recycling Company — Onshoring Critical Mineral Supply Chains and Eliminating America's Dependence on ChinaNEW YORK, June 01, 2026 (GLOBE NEWSWIRE) -- Hall Chadwick Acquisition Corp. (“HCAC”), a Nasdaq-listed special purpose acquisition company, today announced that it has entered into a definitive business combination agreement (the “BCA”) with REEcycle Holdings, Inc. (“REEcycle”), a pioneering U.S.-based rare earth element recycling
Yahoo Finance2 days ago
PRESS RELEASE
Here's How Much You'd Have If You Invested $1000 in Harmony Gold a Decade Ago
Why investing for the long run, especially if you buy certain popular stocks, could reap huge rewards.
Yahoo Finance6 days ago
PRESS RELEASE
If You Invested $1000 in Harmony Gold 10 Years Ago, This Is How Much You'd Have Now
Investing in certain stocks can pay off in the long run, especially if you hold on for a decade or more.
Yahoo Finance5/12/2026
PRESS RELEASE
MSCI Upgrades Harmony Gold Mining Company’s (HMY) ESG Rating From ‘BB’ to ‘A’
Harmony Gold Mining Company Limited (NYSE:HMY) is one of the top cheap stocks to buy with the biggest upside potential. Harmony Gold Mining Company Limited (NYSE:HMY) announced on April 29 that the MSCI upgraded the company’s environmental, social, and governance (ESG) rating from ‘BB’ to ‘A’ after its most recent assessment in March 2026. Management […]
Yahoo Finance5/7/2026
PRESS RELEASE
Morgan Stanley Upgrades Harmony Gold (HMY) to Overweight
Harmony Gold Mining Company Limited (NYSE:HMY) is one of the 10 Best Gold Stocks to Buy for the Long Term. On April 15, 2026, Morgan Stanley analyst Christopher Nicholson upgraded Harmony Gold Mining Company Limited (NYSE:HMY) to Overweight from Equal Weight and raised the price target to ZAR 34,000 from ZAR 30,000 previously. Christopher Nicholson […]
Yahoo Finance4/24/2026
PRESS RELEASE
If EPS Growth Is Important To You, Harmony Gold Mining (JSE:HAR) Presents An Opportunity
It's common for many investors, especially those who are inexperienced, to buy shares in companies with a good story...
Yahoo Finance4/16/2026
PRESS RELEASE
Harmony Gold Mining (HMY) Releases Interim Six Months Results
Harmony Gold Mining Company Limited (NYSE:HMY) is one of the Best Mid Cap Value Stocks to Buy in 2026. On March 11, Harmony Gold Mining Company Limited (NYSE:HMY) released its interim results for the six-month period that ended December 31, 2025. During the first half of fiscal 2026, the company grew its group revenue by […]
Yahoo Finance3/27/2026
PRESS RELEASE
Harmony Gold Mining Co Ltd (HMY) (Half Year 2026) Earnings Call Highlights: Strong Financial ...
Harmony Gold Mining Co Ltd (HMY) reports significant profit growth and a revised dividend policy, despite facing production hurdles.
Yahoo Finance1 hour ago
PRESS RELEASE
Midday Fly By: IEA to release 400M oil barrels, Oracle reports Q3 beat
The major averages were lower near noon, with the Dow dropping over 400 points as traders weigh shifting oil prices and a key inflation report. Markets are trading cautiously amid volatile energy prices and ongoing geopolitical tensions in the Middle East. Claim 70% Off TipRanks PremiumUnlock hedge fund-level data and powerful investing tools for smarter, sharper decisions Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential Oil prices, which spiked
Yahoo Finance1 day ago
PRESS RELEASE
Harmony Gold Mining H1 Earnings Call Highlights
Harmony Gold Mining (NYSE:HMY) executives used the company’s media call on results for the six months ended Dec. 31, 2025 to emphasize progress toward what CEO Beyers Nel described as a “higher quality, lower risk global producer of copper and gold,” while highlighting stronger cash generation and a
Yahoo Finance10 hours ago
Quick Facts
- Ticker Symbol
- HMY
- Market Cap
- Mid Cap
- Category
- Gold
- Commodities
- Gold, Silver
- Headquarters
- Randfontein, South Africa
- Founded
- 1950
- Employees
- ~42,000
Operating Countries
South AfricaPapua New Guinea
Producing Assets
- •Moab Khotsong (South Africa)
- •Mponeng (South Africa)
- •Hidden Valley (Papua New Guinea)
- •Nine underground SA operations
Development Assets
- •Zaaiplaats (South Africa)
- •Golpu (Papua New Guinea)
This information is for educational purposes only and does not constitute investment advice. Always conduct your own research before making investment decisions.
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