Senior Harmony Executives from the company’s South African offices visited PNG recently. Harmony has several significant interests in Papua New Guinea, and the executives toured their assets and met with Prime Minister Marape. The company stressed their continued commitment to growing and investing in PNG.

Harmony’s Boipelo Lekubo, Financial Director, and Marian van der Walt, Senior Group Executive: Enterprise Risk and Investor Relations, talked about the company’s long-term interests in the country. They first invested in PNG in 2004, pursuing multiple opportunities in Morobe, such as the Wafi-Golpu Project.

“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.

“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 said.

At the end of 2021, the Hidden Valley Mine had paid K179.4 in aggregate royalties. However, Ms Lekubo added that, like many others in the resources industry, the company now had other considerations to keep in mind.

“Our stakeholders increasingly wish to understand what Harmony is doing environmentally, socially, and in terms of governance,” Ms Lekubo explained.

“‘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,” she said.