{"id":794,"date":"2025-11-25T16:49:42","date_gmt":"2025-11-25T16:49:42","guid":{"rendered":"https:\/\/incomeresearchers.com\/index.php\/2025\/11\/25\/harmony-greenlights-us1-75-billion-eva-copper-mine-buildout\/"},"modified":"2025-11-25T16:49:42","modified_gmt":"2025-11-25T16:49:42","slug":"harmony-greenlights-us1-75-billion-eva-copper-mine-buildout","status":"publish","type":"post","link":"https:\/\/incomeresearchers.com\/index.php\/2025\/11\/25\/harmony-greenlights-us1-75-billion-eva-copper-mine-buildout\/","title":{"rendered":"Harmony Greenlights US$1.75 Billion Eva Copper Mine Buildout"},"content":{"rendered":"<\/p>\n

Harmony Gold Mining (NYSE:HMY,JSE:HAR)<\/a> announced that it has approved development of its Eva Copper project in Queensland after completing an updated feasibility study, with an estimated capital of US$1.75 billion across a three-year window.<\/strong><\/p>\n

The South African miner said Monday (November24) that its board signed off on the Final Investment Decision for the Eva copper project, a 100-percent-owned project in northwest Queensland expected to deliver high margins and a long operating life.<\/p>\n

Harmony plans to build a low strip-ratio open-pit mine capable of producing about 65,000 metric tons of copper concentrate annually during its first five years, with an average life-of-mine profile of roughly 60,000 metric tons of copper and 19,000 ounces of gold per year over an estimated 15-year span. <\/p>\n<\/p>\n

The mine will process about 18 million metric tons of ore per year and carry an all-in sustaining cost of approximately US$2.50 per pound.<\/p>\n

CEO Beyers Nel said the feasibility results confirm the company\u2019s shift toward a balanced gold-and-copper portfolio. <\/p>\n

\u201cThe Eva Copper Feasibility Study delivers a strong, high-confidence outcome that positions Harmony for the next phase of growth as we continue building a high-quality, low-cost portfolio,\u201d he said.<\/p>\n

Nel also tied Eva Copper to Harmony\u2019s expanding strategy, pointing to the company\u2019s recently completed MAC Copper acquisition.<\/p>\n

\u201cEva Copper, together with our recent MAC Copper acquisition, creates a compelling platform that brings together the enduring value of gold with the future-facing strength of copper, enhancing cash flow resilience across commodity cycles,\u201d he said. <\/p>\n

Last month, Harmony completed its US$1.01 billion acquisition of MAC Copper, giving the company full ownership of the high-grade CSA copper mine in New South Wales. <\/p>\n

The company said the purchase builds on its strategic push to strengthen its copper position in Tier-1 jurisdictions. It also expects its two major Australian copper assets to deliver a combined 100,000 metric tons of copper annually once fully commissioned.<\/p>\n

Meanwhile, the Eva Copper project was acquired by the company in October 2022 and has since completed 166,000 metres of drilling. The current two-million-metric-ton copper resource underpins the potential for future extensions to the mine\u2019s life.<\/p>\n

Harmony anticipates first production in the second half of 2028, a timeline it says aligns with a structural deficit in copper supply that could support stronger prices. <\/p>\n

Board approval moves the project into the execution phase. Mobilization to site is expected in the third quarter of fiscal 2026, subject to amendments to the project\u2019s Environmental Authority.<\/p>\n

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.<\/strong><\/p>\n<\/p>\n

This post appeared first on investingnews.com<\/div>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Harmony Gold Mining (NYSE:HMY,JSE:HAR) announced that it has approved development of its Eva Copper project in Queensland after completing an updated feasibility study, with an estimated capital of US$1.75 billion across a three-year window. The South African miner said Monday (November24) that its board signed off on the Final Investment Decision for the Eva copper…<\/p>\n","protected":false},"author":1,"featured_media":795,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-794","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing"],"_links":{"self":[{"href":"https:\/\/incomeresearchers.com\/index.php\/wp-json\/wp\/v2\/posts\/794","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/incomeresearchers.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/incomeresearchers.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/incomeresearchers.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/incomeresearchers.com\/index.php\/wp-json\/wp\/v2\/comments?post=794"}],"version-history":[{"count":0,"href":"https:\/\/incomeresearchers.com\/index.php\/wp-json\/wp\/v2\/posts\/794\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/incomeresearchers.com\/index.php\/wp-json\/wp\/v2\/media\/795"}],"wp:attachment":[{"href":"https:\/\/incomeresearchers.com\/index.php\/wp-json\/wp\/v2\/media?parent=794"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/incomeresearchers.com\/index.php\/wp-json\/wp\/v2\/categories?post=794"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/incomeresearchers.com\/index.php\/wp-json\/wp\/v2\/tags?post=794"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}