Johannesburg, South Africa — MININGREVIEW.COM — 16 August 2011 – Nedbank Capital today announced that it acted as joint lead arranger of a US$300 million facility that will afford Harmony Gold Mining Company Limited (Harmony) access to the funding required to progress its activities in Papua New Guinea, including its Wafi-Golpu resource.
A statement released here said the facility saw Nedbank Capital making the significant finance facility available to Harmony to enable the mining giant to further develop its massive Wafi-Golpu resource on the back of its hugely successful exploration activities in Papua New Guinea over the past four years.
“Since undertaking its pre-feasibility studies in 2007, the significant exploration success achieved by Harmony has seen Wafi-Golpu evolve into one of the most significant world-class projects in recent times. It has some of the highest gold and copper grade porphyry deposits in the world leading some commentators to dub it the ‘find of the century’,” the statement added.
According to Peter van Kerckhoven, co-head of Mining & Resources at Nedbank Capital, the finance agreement not only enables Harmony to extend its impressive global track record, but also serves to further cement the well established relationship that exists between Nedbank Capital and the mining company.
“Nedbank Capital and Harmony have a long history of partnership and cooperation,” he says, “and our involvement in raising the finance for further development in Papua New Guinea effectively takes this relationship to the next level.”