South Africa's Harmony Gold plans to begin copper production by 2028
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Update time : 2024-09-10 16:10:05
South Africa's Harmony Gold announced that it expects to begin copper production from its Australian Eva Copper project by 2028. The project, acquired in 2022, marks the company's diversification from gold into copper, a key metal for decarbonization.
Harmony CEO Peter Steenkamp stated that the company aims to make a final investment decision by the end of the financial year, with copper production projected to reach up to 60,000 metric tons annually. Early work, such as access road construction, has already commenced.
In the year ending June 30, Harmony reported a 132% increase in headline earnings, reaching 11.474 billion rand, fueled by higher gold production and record prices.
