Harmony Gold is the largest gold producer by volume in South Africa and is a significant operator of gold tailings retreatment facilities. The allocation of capital towards such sustainable projects further demonstrates our commitment to the environment and decarbonization as we continue “Mining with Purpose”, said CEO Peter Steenkamp. This comprehensive programme will improve our energy mix, ensuring we achieve our goal of becoming net carbon zero by 2045. “The renewable energy programme is critical to Harmony as we continue to decarbonize whilst lowering our energy supply risk and alleviating pressure on the national grid. The company anticipates an estimated saving of R425 million (~$22 million) a year in electricity costs once Phase 1 and 2 are complete. Harmony Gold noted that the first 100MW of Phase 2 will be largely funded using the R1.5 billion (~$78 million) green loan that was secured in June 2022, adding that the remaining 37MW will be delivered through a power purchase agreement. Once complete, this will add a further 137MW in renewable energy,” the company said in a press release. “Construction of Phase 2 of our renewable energy programme is expected to commence in December 2023 (FY24) and be completed in FY25. Phase 1 will reduce carbon dioxide emissions by approximately 65 000 tonnes in the first 12 months of operation, it added. The company said these plants are currently “delivering green electrons to our shafts” and expected to deliver approximately 70 gigawatt hours of renewable energy to Harmony’s Free State operations per annum. ( Kitco News) - Harmony Gold Mining (NYSE: HMY), a senior global gold producer, announced today that the 30 megawatt (MW) solar photovoltaic plants in the Free State (South Africa) have been commissioned. Receive a comprehensive recap of the day's top stories directly to your inbox. Get all the essential market news and expert opinions in one place with our daily newsletter.
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