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No external funding needed for new $2.6bn Harmony mine

Gold mining company Harmony said on Monday that its current expectation was that it would not require any external funding to build the Golpu copper/gold mine, in Papua New Guinea (PNG), with its 50% joint venture partner Newcrest.

The JSE-listed company estimated the first-stage project capital on a 100% basis at $2.6-billion, with an internal rate of return (IRR) of 16%.