Senior executives from Harmony’s offices in South Africa visited PNG last month to tour company assets and meet with Prime Minister James Marape to emphasise the company’s continued commitment to invest and grow in the country.
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| Director, Boipelo Lekubo |
Harmony’s Financial Director, Boipelo Lekubo, and Senior Group Executive: Enterprise Risk and Investor Relations, Marian van der Walt, spoke of Harmony’s investment in PNG since 2004 and the company’s pursuit of multiple opportunities in the Morobe Province, of which the Wafi-Golpu Project is one.
“Harmony, through its subsidiary companies, owns the Hidden Valley Mine and 50% of the Wafi-Golpu Project, as well as extensive exploration interests in and around the Morobe Province,” Ms. Lekubo said.
“Significant capital works associated with the Hidden Valley Mine life extension are presently underway, and Harmony continues to assess further investment opportunities in PNG”, Ms. Lekubo added.
As of 31 December 2021, the Hidden Valley Mine had paid an aggregate PGK 179.4 million in royalties. However, as many industries are experiencing, “Our stakeholders increasingly wish to understand what Harmony is doing environmentally, socially and in terms of governance,” Ms. Lekubo said.
“‘Responsible Stewardship’ is a key pillar underpinning Harmony’s operating philosophy, which is mining with purpose. The principles of sustainable development are embedded in our business.
For example, we recognise, both in South Africa and PNG, that preferential procurement is a national imperative, and we are proud to be supporting PNG businesses, including landowner businesses. During the previous financial year, Harmony’s total procurement spend in PNG was PGK 517 million, including PGK 152 million spend with landowner companies.”