South Africa’s Harmony Gold says its recently acquired CSA copper mine in New South Wales, Australia, will require a substantial operational overhaul that could take at least two years before performance is fully stabilised and improved. Chief Executive Beyers Nel said the company is still assessing the mine’s constraints and investment needs following the acquisition, speaking at the Africa Mining Indaba, as reported by Reuters.
Harmony completed the $1.03 billion acquisition of MAC Copper Ltd in October, securing full ownership of the CSA mine as part of its strategy to diversify beyond gold. While the mine is considered one of Australia’s higher-grade copper assets, Nel said Harmony does not expect quick wins and will focus on fixing operational bottlenecks before pushing production higher.
According to the company, key challenges include ventilation limitations and infrastructure constraints that restrict deeper mining and operational flexibility. Harmony is reviewing near-term projects to improve ventilation and mine access, with a clearer production and capital outlook expected when it releases its half-year results in March, as cited by MarketScreener.
The CSA mine has historically produced about 40,000 tonnes of copper a year, but Harmony said sustained investment will be needed to unlock long-term value. The company views the asset as central to its growing copper portfolio, alongside other Australian projects, even as it prioritizes stabilization over rapid expansion in the early years, Reuters reported.
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