By Adam Whittaker
Harmony Gold Mining said it would proceed with its Eva Copper mine in Australia after an updated feasibility study showed the project would deliver a robust cash flow with strong margins.
The South African gold miner has taken its final investment decision and said it expects the mine in Queensland to deliver an average of 60,000 metric tons of copper and 19,000 troy ounces of gold a year over its 15-year mine life.
Harmony Gold expects production to start in the second half of 2028, and anticipates benefiting from elevated copper prices.
It expects an all-in sustaining cost of approximately $2.50 a pound. Harmony Gold said it expects the project to cost $1.55 billion to $1.75 billion over a three-year construction period. It will fund the project via cash and debt.
Write to Adam Whittaker at adam.whittaker@wsj.com
(END) Dow Jones Newswires
11-24-25 0345ET
