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Tuesday, 8th March 2005 (4175 views)

Harmony has secured a license to develop a mine at the Papua New Guinea Hidden Valley project.<br/><br/>According to the South African gold mining group, the license was issued after a detailed licensing process, including reviews of all plans, according to the Mail and Guardian Online.<br/><br/>The mining firm has revealed that feasibility studies indicate the project could produce on average over 300,000 ounces of gold per year.<br/><br/>Harmony produces approximately 300,000 ounces of gold a year from its Australian operations at present.<br/><br/>"The mine life will be extended by extensive inferred resources in the immediate area of the mine," said CEO Bernard Swanepoel. <br/><br/>"We also control many exciting prospects in this well-mineralised belt, which will be processed through the Hidden Valley plant," he added.<br/><br/>It is hoped an open pit mine will be constructed in mid 2005 and the first gold will be poured in early 2007.<img alt="track" src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=7976997"/>

 

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