MELBOURNE, Australia, Dec. 6, 2013 /CNW/ - Newcrest Mining Limited (ASX:
NCM) and Harmony Gold Mining Company Limited (Harmony) today announced
plans to complete a feasibility study to evaluate an underground
exploration programme for the Wafi-Golpu Project.
The Wafi-Golpu exploration project is owned by the Wafi-Golpu
unincorporated joint venture between subsidiaries of Newcrest (50%) and
Harmony (50%), and is located in the Morobe Province in Papua New
This next phase of work requires a feasibility study on an exploration
shaft and associated underground staging platforms to complete deep
underground drilling and bulk sampling of the ore body. Underground
access to the orebody through the exploration shaft would generate
essential ore body knowledge required to support a future development
decision. Geotechnical drilling to identify a suitable exploration
shaft location has commenced.
The Johannesburg office of the engineering consulting firm WorleyParsons
TWP has been engaged to prepare the feasibility study for the proposed
exploration shaft for consideration and approval by the joint venture.
Their engagement also includes a review of an associated lower capital
expenditure development option for the Golpu deposit to underpin the
commercial decision to sink an exploration shaft.
The joint venture anticipates a final investment decision for the
proposed exploration shaft during the second half of calendar 2014,
subject to receipt of necessary regulatory approvals.
The joint venture also aims to finalise an agreement with the State to
provide a framework for the underground exploration phase, ongoing
technical and economic studies and, ultimately, the future development
and operation of the project.
These planning and study activities are accommodated within the 2014
exploration budget for the project. In parallel to these planning and
study activities, the joint venture will continue with investment in
the community in the Wafi-Golpu project area.
Further information may be found at www.newcrest.com.au, www.harmony.co.za and on www.sedar.com
SOURCE: Newcrest Mining Limited
For further information:
Harmony Gold Mining Company Limited
Investor Relations Manager
P: +27(0)11 411 2314 P:
M: +27 82 759 1775 M:
Marian van der Walt
Executive: Corporate and Investor Relations
+27 (0)11 411 2397
+27 82 888 1242
Newcrest Mining Limited
T: + 61 3 9522 5493
T: + 61 3 9522 5593