Tshepong restructure

goLD miner Harmony gold has decided to restructure its tshepong operations, in the Free state, which will be reported on separately as tshepong North and tshepong south in future, chief executive Peter steenkamp said in a trading statement on august 24. “The tshepong North sub-75 project has been suspended and the life-of-mine reduced from 19 years to seven years. This restructure will create a smaller but immediately profitable operation going forward,” he said. The capital that was earmarked for tshepong North will be reallocated to projects delivering higher returns, such as the Zaaiplaats project and the Kareerand tailings expansion in the Vaal river region. “This was not an easy decision but it was necessary to ensure we continue to mine sustainably and profitably,” steenkamp said. — Mining Weekly