Australian-listed Newcrest Mining is selling its 50% share in the Hidden Valley Joint Venture to its South African partner, Harmony Gold, for just one US dollar. The deal was announced on 19th September 2016 and covers the struggling Hidden Valley gold mine in Papua New Guinea, plus a number of nearby exploration tenements. The agreement highlights the different priorities for the two companies, but importantly, they remain 50:50 partners on the US$2 billion capex, Golpu copper-gold project, located some 70 kilometres north of Hidden Valley.
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Insight | Sep 2016
Harmony doubles down at Hidden Valley gold in PNG
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