Harmony Gold is in advanced talks with global miner Rio Tinto on the Hidden Valley project in Papua New Guinea that will help improve its cash costs by $10 per ounce of gold, it said on Friday.
Harmony's Chief Executive Bernard Swanepoel told a presentation about the talks after the company reported second quarter results.
South Africa's Harmony, the world's fifth biggest gold producer, has previously said that the Hidden Valley project could produce 280,000 ounces of gold and 3.9 million ounces of silver per year during a mine life estimated at around 10 years.
Read more at Reuters South Africa
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