Harmony Gold’s recovery from a "near-death experience" a few years ago was further evidenced by its bold R4.1bn purchase of a suite of gold and uranium assets from AngloGold Ashanti and positioning the company to make a decision on what to do with the Golpu copper and gold project in Papua New Guinea. Harmony CEO Peter Steenkamp hailed the purchase of the profitable Moab Khotsong mine and its sister Great Noligwa mine, which was mothballed, along with 70-million tonnes of gold-carrying tailings and the entire Nufcor — SA’s only uranium calcining operation, which treats material from Moab and third parties. Nufcor is SA’s only uranium calcining operation, which treats material from Moab and third parties. "When I got the job two years ago, Harmony was in very big trouble. It had very high levels of debt of R5bn, half its market capitalisation. "It had a near-death experience, but since then we’ve stabilised our production at 1-million ounces a year, a sustainable level, we’ve done go...
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