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Issued by Harmony Gold
Mining Company Limited
For more details contact:
Henrika Ninham
Investor Relations Manager
+27(0) 82 759 1775
Marian van der Walt
Executive: Corporate and Investor
Relations
+27(0) 82 888 1242
Corporate office:
Randfontein Office Park
P O Box 2
Randfontein
South Africa 1760
T +27 (11) 411 2000
Listing codes:
JSE: HAR
NYSE: HMY
ISIN no:
ZAE000015228
Registration no: 1950/038232/06
Harmony Gold Mining Company Limited
(Harmony), a world-class gold mining
and exploration company, has
operations and assets in South Africa
and Papua New Guinea. Harmony,
which has more than 60 years’
experience in the industry, is the third
largest gold producer in South Africa.
Our assets include 9 underground
mines and 1 open pit operation and
several surface sources in South Africa.
Our assets in PNG – an open pit mine
(Hidden Valley), as well as the
significant Golpu project – are held in a
joint venture. We also own several
exploration tenements, in Papua New
Guinea.
The company’s primary stock exchange
listing is on the JSE with a secondary
listing on the New York Stock
Exchange. The bulk of our shareholders
are in South Africa and the United
States. Additional information on the
company is available on the corporate
website, www.harmony.co.za.
Harmony provides production overview
Johannesburg: Thursday, 14 April 2016
. Harmony Gold Mining Company Limited
(“Harmony” and/or “the Company”) advises that its production guidance for the
financial year of about 1.1 million ounces is maintained. The March 2016 quarter was
6% higher than the comparative quarter in the previous financial year, but 9% lower
than the December 2015 quarter. Total production was impacted by the late start-ups
following the December holiday, combined with the impact of the earlier than usual
Easter holidays, a maintenance upgrade at Kusasalethu and a safety stoppage at
Target.
Supported by stronger cash flows and mining above its guided grade of 5g/t, the
Company is well positioned to further benefit from the higher gold price. Cash
operating costs including capital for the March 2016 quarter is approximately
R455 000/kg or US$900/oz (an exchange rate of R15.80/US$), well below the
average gold price for the quarter.
The Company’s net debt position by quarter end reduced by 35% to approximately
R1.7 billion (from R2.5 billion at the end of the previous quarter). The strong R/kg
price received during the quarter of about R600 000/kg strengthened Harmony’s cash
flow. Cash certainty was further created by the foreign exchange hedging contracts
that were announced in February 2016. Harmony remains on track to repay all of its
debt by the end of calendar year 2016.
“Our focus is firmly set on further improving our safety, achieving close to our
guided production of about 1.1 million ounces for the financial year 2016 and
repaying all of our debt”, Peter Steenkamp, chief executive officer of Harmony, said.
Harmony has changed to semi-annual reporting (reported early March 2016) and its
financial results for the 6 months and year ended 30 June 2016 will be published on
17 August 2016.
Ends.