Harmony finds copper-gold deposits in PNG project

Johannesburg - Harmony Gold [JSE:HAR] said it has discovered gold and copper deposits at its Kili Teke exploration site in Papua New Guinea, which could be similar to its other resources in the Pacific Island nation.

Harmony, Africa's fourth-largest bullion producer, said in a statement on Wednesday there was potential to develop its latest find into a major copper-gold deposit similar to its flagship Wafi-Golpu project and the OK Tedi or Frieda River facilities.

The Wafi-Golpu project, a joint venture with Newcrest Mining, holds 20 million ounces of gold and 9 million tons of copper.