{"id":1165224,"date":"2020-02-12T11:03:48","date_gmt":"2020-02-12T17:03:48","guid":{"rendered":"https:\/\/www.mining.com\/?p=1013732"},"modified":"2020-02-12T11:03:48","modified_gmt":"2020-02-12T17:03:48","slug":"harmony-takes-south-africas-top-gold-miner-crown-from-anglogold","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1165224","title":{"rendered":"Harmony takes South Africa\u2019s top gold miner crown from AngloGold"},"content":{"rendered":"<p>Harmony Gold\u00a0(JSE: HAR) (NYSE: HMY) has emerged as the new top producer of the yellow metal in South Africa, as rival AngloGold Ashanti (NYSE: AU) (JSE: ANG) <a href=\"https:\/\/www.harmony.co.za\/invest\/company-announcements\/2020\/item\/1089-harmonys-acquisition-of-mponeng-and-mine-waste-solutions-from-anglogold-ashanti\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">sells it the last remaining assets<\/a> in the country.\u00a0<\/p>\n<div class='d-flex justify-content-center d-xs-block d-sm-block d-md-none'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>The $300 million deal, agreed on<br \/>\nWednesday, marks AngloGold exit from its home country to focuses on more<br \/>\nprofitable mines in Ghana, Australia and the Americas<\/p>\n<p>For Harmony, the acquisition of<br \/>\nAngloGold\u2019s Mponeng mine and surface assets&nbsp;will allow it to sustain<br \/>\ngrowth and replace capacity currently coming from its Masimong and Unisel<br \/>\nmines, which are running out of ore.<\/p>\n<p>It will also boost gold production<br \/>\nby about 350,000 ounces a year to more than 1.8 million ounces.<\/p>\n<p>The company\u2019s chief executive<br \/>\nofficer, Peter Steenkamp, <a href=\"https:\/\/www.mining.com\/harmony-gold-mulls-anglogold-assets-acquisition-as-reserves-dwindle\/\">has<br \/>\nrepeatedly stated<\/a> that South Africa is its main investment target, even as the<br \/>\ncountry\u2019s gold industry faces mounting challenges, including geological and<br \/>\nsafety aspects of extracting ore from the world\u2019s deepest mines.<\/p>\n<p>Steenkamp is betting on recreating<br \/>\nthe successful strategy applied after it bought Anglo\u2019s Moab Khotsong mine in<br \/>\n2017. Half of that money has already been paid back, he said.<\/p>\n<p>Mponeng, the world\u2019s deepest mine,<br \/>\ngenerated 265,000 gold ounces in 2018. Output from the surface operations,<br \/>\nwhich extract the precious metal from ore dumps, totalled 171,000 ounces. Those<br \/>\nSouth African assets accounted for about 13% of AngloGold\u2019s production that<br \/>\nyear.<\/p>\n<p><em>More to come\u2026<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Harmony is buying AngloGold&#8217;s Mponeng mine and surface assets in a $300 million deal.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[949,369,4],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1165224"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1165224"}],"version-history":[{"count":6,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1165224\/revisions"}],"predecessor-version":[{"id":1165252,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1165224\/revisions\/1165252"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1165224"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1165224"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1165224"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}