R1.5 Billion Harmony Gold Investment in Stilfontein Boosts Jobs and Local Growth

In a bold step toward revitalizing the economy and curbing high unemployment in South Africa’s North West province, Premier Lazarus Kagiso Mokgosi has lauded Harmony Gold for a transformative R1.5 billion investment in its Stilfontein operations, situated within the City of Matlosana. The Premier hailed this milestone as a clear sign of deepening public-private partnerships and a vote of confidence in the province’s long-term economic potential.

Attracting Investment Through Strategic Engagement

This latest capital injection comes as a result of deliberate, strategic efforts by Premier Mokgosi to position the province as a viable investment destination. Earlier this year, Mokgosi met with Harmony Gold’s Executive Management on the sidelines of the prestigious Africa Mining Indaba. Discussions during the meeting centered around critical themes such as economic diversification, localisation of supply chains, and Small, Medium, and Micro Enterprises (SMME) development.

“The discussions with Harmony Gold were focused on ensuring that our province becomes a fertile ground for inclusive economic growth. Today’s announcement is a direct outcome of those talks and showcases the value of high-level government engagement with industry leaders,” Mokgosi said.

A Continuum of Economic Expansion

The R1.5 billion investment follows Harmony Gold’s prior R7 billion expenditure in 2022 to extend its Moab-Khotsong operations in Stilfontein. That expansion not only lengthened the life of the mine by two decades but also secured 6,000 jobs—most of them held by local residents. In addition, the company’s 2020 acquisition of Mine Waste Solutions resulted in another R2 billion investment, generating approximately 2,500 jobs, with 70% of those positions filled by North West locals.

The cumulative effect of these investments has been both immediate and forward-looking: creating jobs, preserving livelihoods, and injecting vitality into the local economy.

Renewable Energy and Sustainable Diversification

Harmony Gold’s newly appointed Chief Executive Officer, Beyers Nel, emphasized that the investment forms part of the company’s broader diversification and sustainability strategy. The Stilfontein project includes a significant renewable energy component that aligns with South Africa’s green economy ambitions.

“Our investments reflect not only our commitment to operational excellence but also our desire to leave a lasting positive legacy. Through strategic initiatives such as renewable energy deployment and mining waste solutions, we are diversifying while contributing meaningfully to economic sustainability,” Nel stated.

Infrastructure and Community Development Call

Premier Mokgosi urged Harmony Gold to also channel resources toward the North West Province’s Development Fund, a government-led initiative designed to address critical infrastructure backlogs—particularly in underdeveloped rural and peri-urban communities.

“While we applaud this investment, we encourage our partners in the private sector to look beyond profits and help us tackle some of the province’s most pressing challenges. The Development Fund is a powerful mechanism to address infrastructure deficits, and we welcome all contributors who share our vision for equitable development,” Mokgosi added.

Looking Ahead: A Province on the Rise

As the North West Province works toward rebuilding its economic base, the role of responsible mining and targeted investment is becoming increasingly central. With the backing of key players like Harmony Gold and a provincial government willing to engage proactively with business leaders, a new wave of opportunity is beginning to take shape.

Premier Mokgosi expressed optimism that this momentum will lead to a broader influx of investment, business activity, and ultimately, a significant reduction in unemployment rates that have long plagued the province.

“This is just the beginning. With continued collaboration and determination, we can reimagine the economic destiny of the North West and build a future that offers dignity, opportunity, and prosperity for all our people,” said Mokgosi.