Daily Metal Market News & Metal Prices
 
Daily Metal Prices & Market News
Sunday 07th of September 2008
Thursday, July 26, 2007

Papua New Guinea provides new prospects for Harmony

Papua New Guinea provides new prospects for Harmony

Harmony Gold Mining, the world’s fifth largest gold producer, has reported that its pre-feasibility studies at the Golpu copper/gold deposit in Papua New Guinea show a mine with a production life of about 13 years.

The company expects to recover 64,000 tons of copper and 73,000 ounces of gold to concentrate per year from the deposit.

The deposits form part of the Wafi Golpu project, which comprises two separate ore systems, gold and copper-gold, located in close proximity to each other.

A further pre-feasibility study is being conducted at the Wafi site and publication is expected in October 2007.

The Golpu pre-feasibility study indicates a probable ore reserve of 70.8 million tons grading 1.13% copper, 0.61g/t gold, and 121ppm molybdenum.

Inclusion of inferred material in the mining plan may see the mining inventory increase to 100.7 million tons grading 0.95% copper, 0.54g/t gold, and 129g/t molybdenum.

As a result, for the first time in its 57-year history, Harmony will be including copper, molybdenum and uranium reserves and resources in its Mineral Reserves and Mineral Resources declaration.

In addition to its Papua New Guinea operations, Harmony has projects in South Africa and Australasia.

 

Add to Bookmarks:

ADD TO NETSCAPE     ADD TO DEL.ICIO.US     ADD TO DIGG     ADD TO FURL

ADD TO STUMBLEUPON     ADD TO YAHOO MYWEB     ADD TO GOOGLE     ADD TO SPURL


Related posts to: Papua New Guinea provides new prospects for Harmony

Allied Gold reports strong strike at Papua New Guinea project ...

Harmony plans disposals as losses decrease ...

Harmony finances in disarray ...

Harmony issues profit warning ...

Harmony miners in large scale rescue ...

Latest Metals News:

Latest News  Copper losses pull other metals prices lower

Latest News  Xstrata increases stake in Indophil

Latest News  BHP fatality closes Australian iron ore mines

Latest News  Palladium gains as other precious metals see declines

Latest News  EU halts investigations into BHP’s bid for Rio

Latest News  Aluminium falls amid gains for other base metals

Latest News  Lomin rejects Xstrata bid but leaves door ajar

Latest News  Metals drop with crude oil prices

Latest News  Antofagasta forges ahead despite rising costs

Latest News  Copper prices lower on jump in inventories


Previous: « Copper drops on US home sales figures
Next: Gold down again on economy worries »

Visited 1407 times, 1 so far today

Gold ($/troy ounce):

Silver ($/troy ounce):

Platinum ($/troy ounce):