Mponeng is the deepest level shaft in the world, with a depth of 3 891 metres below datum and 2 062 metres below sea level. The mine, which began producing in 1986, is near the town of Carletonville, some 90km south-west of Johannesburg. The mine exploits the Ventersdorp Contact Reef, its primary orebody, employing mostly breast-mining methods. The economic reef horizons are mined at depths of between 3 160m and 3 740m below surface. Ore mined is processed at the Mponeng gold plant using conventional gold leaching methods carbon-in-pulp gold recovery technology.
Mponeng was the group’s largest gold producer, contributing 16% of total production. In FY23, Mponeng produced 7 449kg (239 490oz) of gold, a significant 22% improvement over the 6 086kg (195 669oz) produced in FY22. This was mainly due to higher than anticipated average mining grades as well as good clean mining practices that resulted in a 16% improvement in the recovery grade to 8.43g/t for FY23 (FY22: 7.25g/t). Volumes of ore milled was 5% higher in FY23 at 884 000 tonnes (FY22: 840 000t).
Revenue increased 40% to R7 845 million (FY22: R5 620 million), mainly due to the increase in gold production supported by a higher average gold price received. Cash operating cost increased by 11% to R5 002 million (FY22: R4 498 million) and was mainly due to annual wage and electricity tariff increases as well as significantly higher MPRDA royalties. Capital expenditure rose 16% to R704 million (FY22: R605 million). A total of R454 million was spent in respect of ongoing development.
Mponeng was largest contributor to operating free cash flow at R2 139 million in FY23, considerably higher than the R517 million in FY22.
Reference
https://www.harmony.co.za/operations/south-africa/underground/mponeng/
