Harmony has announced the US$170 million acquisition of a package of regional exploration tenements from Copper Mountain Mining Corporation and the entity which owns 100% of the Eva Copper project in South Africa with the strategic objective of the latter transitioning into a low-cost gold and copper mining company.

The acquisition of Eva Copper will expand the company's diversification into copper, adding 1.718 billion pounds of copper and 260,000 ounces of gold to Harmony's mineral reserves. The acquisition will mitigate the risk of the entire asset portfolio and achieve all of Harmony's strategic objectives, open up new opportunities in Australia's mining region and complement Harmony's 50 percent stake in the Wafi-Golpu Tier 1 copper-gold project. 

The acquisition of a package of regional exploration tenements from Copper Mountain and the Eva Copper project represents 2,295 square km of property in the North West World Class Minerals Province of Queensland, Australia.