This is part of the company’s expansion plans
The investment shows the confidence the company has in the gold price and its capacity to expand in PNG.
In an interview with Business Advantage PNG, Chief Executive Officer, Jahannes Van Heerden, says “With so much global economic uncertainty, gold will retain its appeal as a store of value. We will take a measured view on any investment’s decent returns.”
Harmony aims to produce 1.5 million ounces of gold within the next there years at a cost of $950 per ounce.