Randfontein - Harmony Gold Mining Company [JSE:HAR], South
Africa’s third-largest bullion miner, said on Tuesday it would consider a Hong
Kong listing once its massive Wafi-Golpu project in Papua New Guinea is up and
running in about five years' time.
“We would certainly look at a Hong Kong listing,” said
Mashego Mashego, an executive director at Harmony.
Speaking to Reuters during an underground visit at Harmony’s
Doornkop mine west of Johannesburg, Mashego said the Wafi-Golpu copper-gold
project should cost between $3bn and $5bn to develop.
The company has previously said it could cost up to $4bn. It
will be responsible for half the total amount as the project is a 50-50 joint
venture between Harmony and Australia's Newcrest Mining.
“We will have a far better idea of the potential and costs
of Wafi-Golpu in June when the prefeasibility study is completed,” Mashego
said.
Wafi-Golpu will be Harmony’s second operation in Papua New
Guinea. Its Hidden Valley mine already contributes 8% to the
company’s production.
Wafi-Golpu is seen producing between 400 000 ounces to 700 000 oz of gold and 100 000 tonnes to 200 000 tonnes of copper per year. It is key to Harmony’s strategy of diversifying away from its South African base.