South African gold miner Harmony Gold plans to invest 7.9bn rand to extend Mponeng mine's life from 7 to 20 years.

South African gold mining company Harmony Gold plans to invest 7.9 billion rand ($410m) to extend the life of the world's deepest mine, Mponeng, from 7 to 20 years. This comes as South Africa's gold industry has shrunk to less than a fifth of its peak due to higher costs and geological challenges associated with mining deeper deposits. Harmony's investment will help Mponeng become the star performer in its portfolio.

February 28, 2024
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