Issued by Harmony Gold
Mining Company Limited
13 April 2011
For more details contact:
Henrika Basterfield
Investor Relations Officer
+27 (0) 11 411 2314
+27 (0) 82 759 1775 (mobile)
Corporate Office:
Randfontein Office Park
P O Box 2
Randfontein
South Africa 1760
T +27 (11) 411 2000
www.harmony.co.za
JSE:
HAR
NYSE:
HMY
ISIN No.: ZAE000015228
Registration number:
1950/038232/06
Harmony’s guidance for March 2011 quarter
Johannesburg. Wednesday, 13 April 2011. Harmony Gold Mining
Company Limited (“Harmony”) announces gold production for the March 2011
quarter is likely to be 2% lower than the previous quarter mainly due the
impact of the Christmas break.
Cash operating costs remained steady and capital expenditure was contained
during the quarter.
In March 2011 the South African Revenue Services conceded that one of
Harmony’s subsidiaries is entitled to claim certain capital allowances in terms
of the Income Tax Act 58 of 1962. This allowance resulted in the reduction of
the net deferred tax liability and a credit of approximately R330 million on the
deferred tax line in the income statement, which will have a positive effect on
Harmony’s headline earnings per share.
Chief Executive Officer, Graham Briggs, commented that: “We remain
focused on delivering on our long term strategy of generating earnings to fund
growth and dividends. We have invested capital to build and commission
some of the best South African gold mining assets, thus significantly
enhancing the production profile. We will continue with our various initiatives
to ensure we are producing profitable ounces in the safest possible
environment.”
Harmony’s results for the quarter ended March 2011 will be released on
Thursday, 5 May 2011. Details of the results presentation are available on the
company’s website, www.harmony.co.za.