99
Mokgosi
North West Premier Lazarus Kagiso Mokgosi has praised Harmony Gold for its R1.5 billion investment in its Stilfontein operations in the City of Matlosana, a move set to create numerous job opportunities and bolster economic growth in the province.
The investment, part of ongoing efforts to combat unemployment and foster partnerships with the private sector, builds on Harmony’s previous commitments, including a R7 billion investment in 2022 and the acquisition of Mine Waste Solutions in 2020.
A Strategic Investment for Job Creation
The R1.5 billion injection into Harmony Gold’s Stilfontein operations, located in the Matlosana Local Municipality, is a significant milestone in the North West’s economic recovery plan. Premier Mokgosi highlighted the investment as a testament to the provincial government’s efforts to attract investors and address the region’s high unemployment rate, which stood at 52.2% according to the expanded definition in the 2023/24 financial year.
The provincial government issued a statement outlining the context of the investment:
“Earlier this year Premier Mokgosi met with the company’s Executive Management on the side-lines of the Africa Mining Indaba to discuss a number of issues relating to diversification, localisation and SMME development. The initiative – which will create several job opportunities for the people of the province – adds to R7 billion worth of investment by the mine in 2022, which includes an extension of Moab-Khotsong operations at Stilfontein.”
Mokgosi emphasized the broader impact of such investments:
“This forms part of a broader strategy by government to encourage investments in the province. I have no doubt that as more investments trickle in, several more job and business opportunities will be created and this will help reduce the high unemployment figures afflicting the province.”
Harmony Gold’s Commitment to Diversification
The R1.5 billion investment is primarily directed toward renewable energy projects, specifically three solar PV plants at Harmony’s Moab Khotsong gold mine near Orkney. Secured through a green loan facility in 2022, these plants are expected to supply 20% of the mine’s peak daytime energy demand by financial year 2026, with a combined capacity of 100 MW.
Harmony Gold’s newly appointed CEO, Beyers Nel, elaborated on the company’s long-term vision:
“Through our R7 billion investment in 2022, we managed to preserve 6000 jobs for locals, extending the mine’s lifespan by 20 years. In 2020, we acquired Mine Waste Solutions leading to an investment of over R2 billion and we have created close to 2500 jobs, 70% of which are locals.”
Nel added that the renewable energy investment aligns with Harmony’s diversification strategy:
“The renewable energy investment forms part of its long-term investment and diversification strategy.”
The engineering, procurement, and construction contract for the solar plants has been awarded to a joint venture between OptiPower and the Cox Group, prioritizing local procurement and job creation. The project will create employment opportunities in Matlosana and Moqhaka municipalities, with a focus on black-owned, black-women-owned, and black-youth-owned businesses. Skills development programs and on-site enterprise development initiatives will further support local communities.
Building on Past Investments
Harmony Gold’s contributions to the North West economy extend beyond the current investment. In 2022, the company invested R7 billion in its Moab Khotsong operations, preserving 6,000 jobs and extending the mine’s lifespan by over 15 years. The 2020 acquisition of Mine Waste Solutions for over R2 billion created 2,500 jobs, with 70% of these roles filled by local residents. These efforts have been critical in sustaining economic activity in Matlosana, a region plagued by illegal mining and economic challenges.
Posts on X reflect local enthusiasm for Harmony’s investments, with users noting the potential for job creation and economic upliftment in Stilfontein and surrounding areas.
Addressing Unemployment and Infrastructure Challenges
The North West Province faces significant socio-economic challenges, including high unemployment and poverty levels, which Mokgosi has described as contributing to issues like crime, substance abuse, and gender-based violence. The Premier’s Economic and Investment Advisory Council, established in 2024, has been instrumental in driving industrialization and attracting investments, with the Harmony Gold project being a key outcome.
Mokgosi also urged Harmony Gold to support the Province’s Development Fund, which focuses on addressing infrastructure backlogs:
“Mokgosi lauded the mine and further urged them to support the Province’s Development Fund, which is primarily aimed at addressing infrastructure backlogs in the province.”
The provincial government allocated R24 million in 2025 to establish this fund, aiming to stimulate economic growth and create sustainable job opportunities. Infrastructure challenges, such as deteriorating roads and water supply issues, remain a priority, with R1.4 billion allocated for school infrastructure and R13 billion set aside by Infrastructure South Africa for road maintenance in the 2023/24 financial year.
Broader Economic Context
The North West’s mineral wealth, particularly in gold and platinum, has not always translated into widespread prosperity, a phenomenon experts call the “paradox of plenty.” Recent investments, however, signal a shift. For example, the R200 million refurbishment of a gold processing plant in Orkney by China African Precious Metals is expected to create 4,000 jobs, while Sedibelo’s R9.4 billion investment has generated 3,000 jobs.
Mokgosi’s engagement with international partners, such as a planned mission to China’s Henan Province in September 2025 to sign a Memorandum of Understanding, underscores the province’s push to position itself as an investment destination. The North West BRICS Investment Conference and the Premier’s Dinner with Investors in 2023 yielded R104.1 billion in pledges, reflecting growing investor confidence.
Community and Environmental Impact
Harmony Gold’s renewable energy project not only creates jobs but also supports South Africa’s transition to sustainable energy. By reducing reliance on fossil fuels, the solar plants will lower Harmony’s carbon footprint and mitigate the impact of above-inflation electricity tariff increases. Local communities will benefit from skills training and permanent maintenance jobs, ensuring long-term economic gains.
However, the region faces challenges with illegal mining, particularly in Stilfontein, which Minister Gwede Mantashe has described as an “attack on the economy.” Mokgosi’s administration is working with neighboring countries like Botswana and Zambia to address issues like zama zamas in the Dr Kenneth Kaunda District, further strengthening regional economic ties.
🔴 Central News Special Edition | Issue 104 🔴 Download the Latest Print and E-Edition | Headline: DA’s Helen Zille Accuses ANC of Using Employment Equity Law to “Shrink Jobs and Punish Business”
Download Here:
Direct PDF Link:
https://centralnews.co.za/wp-content/uploads/2025/05/Central-News-Issue-104.pdf
Read all our publications on magzter:
https://www.magzter.com/ZA/Central-News-Pty-Ltd/Central-News/Newspaper/All-Issues
Central News also offers Sponsored Editorial Content, Podcasts , Radio / Social Media Simulcast, Video Production , Live Streaming Services, Press Conferences, and Paid Interviews (Video/Audio) etc.
We guarantee exceptional exposure, reach, and engagement, with an excellent return on investment.
Advertisement:
To place your advert on our platforms (Print Newspaper or Digital Platforms) : Please email : sales@centralnews.co.za
For Business Related:
business@centralnews.co.za
Newsroom:
Send your Stories / Media Statements To: newsroom@centralnews.co.za
General Info:
info@centralnews.co.za
Office Administrator:
admin@centralnews.co.za
Whatsapp / Call: 081 495 5487
Website: https://www.centralnews.co.za
Social Media Platforms (@centralnewsza) : Linkedin, Facebook, Tiktok, Twitter, Instagram, Youtube
Central News Online
centralnews.co.za
