President Steyn Gold Mine

 mine, gold mine

A mine formerly operated by President Stein Mining Company and Thistle Mining but with Harmony Gold's acquisition of Pamodzi Gold’s Free State assets, the Steyn 2 shaft has been included in the operational management of Bambanani. During fiscal 2010, the Company acquired the President Steyn 1 and 2 shafts, Loraine 3 and the Freddies 7 and 9 shafts, along with the President Steyn gold plant, collectively known as the Pamodzi Free State assets. The assets were acquired from Pamodzi FS, a subsidiary of Pamodzi Gold Limited (Pamodzi), which is an associate of Harmony.

This was the southern section of the former President Steyn which comprised the President Steyn 1 and 2 shafts together with the 1A vent shaft. In addition, the treatment plant and head office are based at this location.

The producing shafts, which are developed to a depth of 7,300 feet, operate at 7,100 feet with a hoisting capability of 140,000 tonnes per month. At present, the President Steyn operation is hoisting around 50,000 tonnes per month leaving significant scope for increased production.

The production facility based at the President Steyn operation is capable of processing 250,000 tonnes of ore per month but the current milling circuit is only capable of treating 105,000 tonnes of ore per month. Since completing the acquisition Thistle has authorised the capital expenditure required to expand the milling capacity of the plant by approximately one third.


Reference for information:
www.harmony.co.za/b/ops_sa_bambanani.asp
www.har.co.za/bambanani.htm
www.harmony.co.za/im/files/presentations/04_Bambanani_a...
in.reuters.com/finance/stocks/companyProfile?symbol=HMY...

pamodzigold-online.co.za/operations_free_state.php

Article about acquistion:
www.miningweekly.com/print-version/harmony-preferred-bi...