Contents
- Corporate profile
- Key statistics 2009
- Key features 2009
- Operations at a glance
- FY09 – milestones
- Harmony strategy
- Chairman’s letter
- Chief executive officer’s review
- Review of operations
- Exploration overview
- Mineral resources and ore reserves
- South Africa
- Papua New Guinea
- Board of directors
- Executive management
- Corporate governance
- Directors’ report
- Report of the independent auditors (PDF - 37KB)
- Group annual financial statements (PDF - 312KB)
- Company annual financial statements (PDF - 123KB)
- Statement of subsidiary companies (PDF - 48KB)
- Investor relations
- Glossary of terms
- Administrative information
Papua New Guinea
Geology: Papua New Guinea (PNG) lies at the northern end of the Australian Plate and has three major components: a continental cratonic platform, an arc of volcanic islands and a central collisional fold belt, consisting of Mesozoic sediments, ophiolite sequences, tertiary sediments and diorite intrusions. During collision, the Wau Graben, the host of major gold and silver deposits, was formed in the fold belt. It coincided with a phase of volcanic activity, resulting in precious and base metals deposits being formed. These include epithermal gold deposits at Hidden Valley, Hamata, Kerimenge and Wafi and porphyry-style copper deposits such as Golpu. Numerous other gold and copper-gold prospects, which are at various stages of exploration and evaluation, occur on Harmony’s lease areas.
Note: The mineral resources and ore reserves detailed in the following tables represent Harmony’s 50% equity portion of the Morobe Mining Joint Ventures.
![Papua New Guinea ops [map]](i/png_ops.gif)
![Hamata open pit Hidden Valley [graph]](i/hamata_open_pit_hv.gif)
![Wafi-Golpu project Golpu block cave, Wafi Project [graph]](i/wafi_golpu_project.gif)
Gold – Mineral resources
| Measured | Indicated | Inferred | Total | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operations | Tonnes (Mt) | g/t |
Gold (000kg) | Gold (000oz) |
Tonnes (Mt) | g/t |
Gold (000kg) | Gold (000oz) |
Tonnes (Mt) | g/t |
Gold (000kg) | Gold (000oz) |
Tonnes (Mt) | g/t |
Gold (000kg) | Gold (000oz) |
| Hidden Valley & Kaveroi | 2.8 | 2.16 | 6 | 195 | 23.1 | 1.89 | 44 | 1 409 | 14.8 | 1.53 | 23 | 730 | 40.7 | 1.78 | 73 | 2 334 |
| Hamata | 0.2 | 2.20 | - | 12 | 3.9 | 2.34 | 9 | 291 | 0.6 | 2.58 | 2 | 50 | 4.7 | 2.37 | 11 | 353 |
| Wafi | - | - | - | - | 31.9 | 1.97 | 63 | 2 017 | 19.8 | 1.73 | 34 | 1 099 | 51.7 | 1.88 | 97 | 3 116 |
| Golpu | - | - | - | - | 43.8 | 0.63 | 28 | 887 | 37.7 | 0.49 | 18 | 595 | 81.5 | 0.57 | 46 | 1 482 |
| Nambonga | - | - | - | - | - | - | - | - | 19.9 | 0.79 | 16 | 505 | 19.9 | 0.79 | 16 | 505 |
| GRAND TOTAL | 3.0 | 2.16 | 6 | 207 | 102.7 | 1.40 | 144 | 4 604 | 92.8 | 1.00 | 93 | 2 979 | 198.5 | 1.22 | 243 | 7 790 |
Modifying factors
| Operations | MCF (%) | PRF (%) |
| Hidden Valley & Kaveroi | 95 | 93 |
| Hamata | 95 | 93 |
| Golpu | 100 | 56 |
- MCF = Mine call factor
- PRF = Plant recovery factor
Gold – Ore reserves
| Proven | Probable | Total | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operations | Tonnes (Mt) |
g/t |
Gold (000kg) | Gold (000oz) | Tonnes (Mt) |
g/t | Gold (000kg) |
Gold (000oz) | Tonnes (Mt) |
g/t | Gold (000kg) |
Gold (000oz) |
| Hidden Valley & Kaveroi | 1.4 | 2.34 | 3 | 105 | 17.6 | 1.99 | 35 | 1 126 | 19.0 | 2.02 | 38 | 1 231 |
| Hamata | 0.1 | 2.05 | 0 | 7 | 1.9 | 2.69 | 5 | 164 | 2.0 | 2.66 | 5 | 171 |
| Golpu | - | - | - | - | 35.4 | 0.61 | 22 | 694 | 35.4 | 0.61 | 22 | 694 |
| GRAND TOTAL | 1.5 | 2.32 | 3 | 112 | 54.9 | 1.12 | 62 | 1 984 | 56.4 | 1.16 | 65 | 2 096 |
Silver – Mineral resources
| Measured | Indicated | Inferred | Total | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Tonnes | Silver | Silver | Tonnes | Silver | Silver | Tonnes | Silver | Silver | Tonnes | Silver | Silver | |||||
| Operations | (Mt) | g/t | (000kg) | (000oz) | (Mt) | g/t | (000kg) | (000oz) | (Mt) | g/t | (000kg) | (000oz) | (Mt) | g/t | (000kg) | (000oz) |
| Hidden Valley & Kaveroi | 2.8 | 40.52 | 114 | 3 668 | 23.1 | 33.95 | 785 | 25 246 | 14.8 | 27.38 | 406 | 13 054 | 40.7 | 32.01 | 1 305 | 41 968 |
| GRAND TOTAL | 2.8 | 40.52 | 114 | 3 668 | 23.1 | 33.95 | 785 | 25 246 | 14.8 | 27.38 | 406 | 13 054 | 40.7 | 32.01 | 1 305 | 41 968 |
Modifying factors
| Operations | MCF (%) | PRF (%) |
| Hidden Valley & Kaveroi | 95 | 81 |
- MCF = Mine call factor
- PRF = Plant recovery factor
Silver – Ore reserves
| Proven | Probable | Total | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Tonnes | Silver | Silver | Tonnes | Silver | Gold | Tonnes | Silver | Silver | ||||
| Operations | (Mt) | g/t | (000kg) | (000oz) | (Mt) | g/t | (000kg) | (000oz) | (Mt) | g/t | (000kg) | (000oz) |
| Hidden Valley & Kaveroi | 1.4 | 39.00 | 55 | 1 755 | 17.6 | 36.70 | 646 | 20 767 | 19.0 | 36.87 | 701 | 22 522 |
| GRAND TOTAL | 1.4 | 39.00 | 55 | 1 755 | 17.6 | 36.70 | 646 | 20 767 | 19.0 | 36.87 | 701 | 22 522 |
Copper – Mineral resources
| Measured | Indicated | Inferred | Total | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Tonnes | Cu | Cu | Tonnes | Cu | Cu | Tonnes | Cu | Cu | Tonnes | Cu | Cu | |||||
| Operations | (Mt) | % | (M kg) | (M Ibs) | (Mt) | % | (M kg) | (M Ibs) | (Mt) | % | (M kg) | (M Ibs) | (Mt) | % | (M kg) | (M Ibs) |
| Golpu | - | - | - | - | 43.8 | 1.39 | 609 | 1 343 | 37.7 | 0.72 | 272 | 599 | 81.5 | 1.08 | 881 | 1 942 |
| Nambonga | - | - | - | - | - | - | - | - | 19.9 | 0.21 | 42 | 92 | 19.9 | 0.21 | 42 | 92 |
| GRAND TOTAL | - | - | - | - | 43.8 | 1.39 | 609 | 1 343 | 57.6 | 0.54 | 314 | 691 | 101.4 | 0.91 | 923 | 2 034 |
Modifying factors
| Operations | MCF (%) | PRF (%) |
| Golpu | 100 | 88 |
- MCF = Mine call factor
- PRF = Plant recovery factor
Copper – Ore reserves
| Proven | Probable | Total | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Tonnes | Cu | Cu | Tonnes | Cu | Cu | Tonnes | Cu | Cu | ||||
| Operations | (Mt) | % | (M kg) | (M Ibs) | (Mt) | % | (M kg) | (M Ibs) | (Mt) | % | (M kg) | (M Ibs) |
| Golpu | - | - | - | - | 35.4 | 1.13 | 400 | 882 | 35.4 | 1.13 | 400 | 882 |
| GRAND TOTAL | - | - | - | - | 35.4 | 1.13 | 400 | 882 | 35.4 | 1.13 | 400 | 882 |
Molybdenum – Mineral resources
| Measured | Indicated | Inferred | Total | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Tonnes | Mo | Mo | Tonnes | Mo | Mo | Tonnes | Mo | Mo | Tonnes | Mo | Mo | |||||
| Operations | (Mt) | ppm | (M kg) | (M Ibs) | (Mt) | ppm | (M kg) | (M Ibs) | (Mt) | ppm | (M kg) | (M Ibs) | (Mt) | ppm | (M kg) | (M Ibs) |
| Golpu | - | - | - | - | 43.8 | 110.00 | 5 | 11 | 37.7 | 157.00 | 6 | 13 | 81.5 | 131.75 | 11 | 24 |
| GRAND TOTAL | - | - | - | - | 43.8 | 110.00 | 5 | 11 | 37.7 | 157.00 | 6 | 13 | 81.5 | 131.75 | 11 | 24 |
Modifying factors
| Operations | MCF (%) | PRF (%) |
| Golpu | 100 | 36 |
- MCF = Mine call factor
- PRF = Plant recovery factor
Molybdenum – Ore reserves
| Proven | Probable | Total | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Tonnes | Mo | Mo | Tonnes | Mo | Mo | Tonnes | Mo | Mo | ||||
| Operations | (Mt) | ppm | (M kg) | (M Ibs) | (Mt) | ppm | (M kg) | (M Ibs) | (Mt) | ppm | (M kg) | (M Ibs) |
| Golpu | - | - | - | - | 35.4 | 121.00 | 4 | 9 | 35.4 | 121.00 | 4 | 9 |
| GRAND TOTAL | - | - | - | - | 35.4 | 121.00 | 4 | 9 | 35.4 | 121.00 | 4 | 9 |
Harmony Annual Report 2009