Two of Harmony Gold Mining Company’s growth projects, Doornkop and Phakisa, recently reached milestones in their development. The Doornkop South Reef project is a R1 billion (US$0.15 billion) project involving the deepening of the existing Doornkop Mine to access the South Reef. The project is due to commence production in October 2006 and will achieve peak production of over 300,000 ounces in 2009.
The shaft sinking operation has been uniquely configured to sink at two elevations in the same shaft. With the raise bore holes completed in both the upper and lower sections of the shaft, sinking has commenced at the bottom level from 197 level, and sinking preparations in the upper section of the main shaft are now complete.
At Phakisa, a shaft acquired with Harmony’s Freegold acquisition, shaft sinking operations have been completed and shaft equipping recently commenced. This milestone is a big step toward commencement of production of this R613 million (US$95 million) project in June 2007. Full production of 250,000 ounces per year is scheduled in 2008.