{"id":14024,"date":"2012-08-29T15:24:10","date_gmt":"2012-08-29T13:24:10","guid":{"rendered":"http:\/\/www.myza.co.za\/08\/update-2-harmony-gold-says-png-must-pay-for-stake-in-mine\/"},"modified":"2012-08-29T15:24:10","modified_gmt":"2012-08-29T13:24:10","slug":"update-2-harmony-gold-says-png-must-pay-for-stake-in-mine","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-2-harmony-gold-says-png-must-pay-for-stake-in-mine\/","title":{"rendered":"UPDATE 2-Harmony Gold says PNG must pay for stake in mine"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Golpu project to cost $4.8 billion<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Harmony sees Golpu production in 2019<\/p>\n<p><span><\/span><\/p>\n<p>* Doesn&#8217;t see need for additional funding until 2017<\/p>\n<p> (Recasts with additional detail, quotes)<\/p>\n<p><span><\/span><\/p>\n<p>By Sherilee Lakmidas<\/p>\n<p><span><\/span><\/p>\n<p>JOHANNESBURG, Aug 29 (Reuters) &#8211; Harmony Gold Mining<br \/>\n, South Africa&#8217;s third-largest gold producer, said Papua<br \/>\nNew Guinea would have to pay if it wanted a stake in the<br \/>\ncompany&#8217;s promising Golpu project in the Asian country.<\/p>\n<p><span><\/span><\/p>\n<p>Harmony is staking its future on the $4.8 billion project it<br \/>\nis developing with Australian group Newcrest Mining.<\/p>\n<p><span><\/span><\/p>\n<p>Papua New Guinea has the right to a 30 percent stake in<br \/>\nmining operations. Harmony chief executive Graham Briggs said on<br \/>\nWednesday if the government exercised this option it would<br \/>\ninclude development costs already forked out.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;This is not a free carry, it will be full participation if<br \/>\nthe government gets involved. Assuming they would take 30<br \/>\npercent, they would have to pay 30 percent of the historical<br \/>\ncosts,&#8221; Briggs told analysts on a conference call.<\/p>\n<p><span><\/span><\/p>\n<p>The gold and copper project&#8217;s prefeasibility study estimates<br \/>\nan initial mine life of 26 years with annual production of<br \/>\n490,000 ounces of gold and 290,000 tonnes of copper.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Golpu project to cost $4.8 billion * Harmony sees Golpu production in 2019 * Doesn&#8217;t see need for additional funding until 2017 (Recasts with additional detail, quotes) By Sherilee Lakmidas JOHANNESBURG, Aug 29 (Reuters) &#8211; Harmony Gold Mining , South Africa&#8217;s third-largest gold producer, said Papua New Guinea would have to pay if it [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-14024","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/14024","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=14024"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/14024\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=14024"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=14024"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=14024"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}