Mponeng, the world’s deepest gold mine, is located in the West Wits mining district south-west of Johannesburg, on the border between Gauteng and Northwest Province.
Mponeng currently exploits the Ventersdorp Contact Reef (VRC) via a twin-shaft system at depths of between 2,800m and 3,400m below surface. Ore is treated and smelted at the mine’s gold plant.
Mponeng’s life extension plan, which is based on the resources below infrastructure, targets the extraction of the Carbon Leader Reef. Studies have been ongoing to test the economic viability of the project. Currently, Mponeng is one of two operating entities in AngloGold Ashanti’s South Africa region. AngloGold Ashanti reached agreement with Harmony Gold Limited on the sale of its South African assets in February 2020.
According to NS ENEGRGY, Harmony Gold announced a ZAR7.9bn ($409m) investment to extend the life of the Mponeng gold mine in the West Wits region, east of Johannesburg, South Africa. The South African gold mining company announced the decision as part of its half-year financial results, with a record interim dividend underpinned by 226% higher headline earnings.
This extension project will convert more than three million ounces of gold onto mineral reserves, delivering an average steady-state production of 260,000oz, or 8t, of gold per annum. Once the extension project is complete, Harmony is anticipated to contribute about R2.5bn per annum in cash, at a real gold price of R1.1m per kg (NS ENERGY).
