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HAR - Harmony Gold Mining Company Ltd - Upgrade of infrastructure at Doornkop`s

Release Date: 17/02/2012 09:18
Code(s): HAR
Wrap Text

HAR - Harmony Gold Mining Company Ltd - Upgrade of infrastructure at Doornkop`s South Reef to assist further production growth Harmony Gold Mining Company Ltd Incorporated in the Republic of South Africa Registration number: 1950/038232/06 JSE Share code: HAR NYSE Share code: HMY NASDAQ Share code: HMY ISIN: ZAE000015228 Upgrade of infrastructure at Doornkop`s South Reef to assist further production growth Johannesburg. Friday, 17 February 2012. Harmony Gold Mining Company Limited`s (`Harmony` or the `Company`) Doornkop mine is a single-shaft operation mining to a depth of just under 2 000 metres. Located 30km west of Johannesburg, Doornkop mines the South and Kimberley Reefs using both narrow-reef conventional and mechanised bord-and-pillar mining, with ore processed at its carbon-in-pulp plant. The majority of tonnes that are mined at Doornkop are from the South Reef and the balance is mined from the Kimberley Reef. The massive improvement in year-on-year production at Doornkop reflects the production build-up on the South Reef and introduction of new trackless machinery on the Kimberley Reef. The build-up in production on the South Reef has however reached a plateau. As a result, Harmony has considered various design changes and ways of improving production from the South Reef. It was decided that production at Doornkop`s South Reef should be stopped for 17 days to upgrade the infrastructure. Production on the South Reef will recommence during the last week of February 2012. Although production at Doornkop will be 45% to 50% less than the December quarter, the upgrade will accelerate its production growth in the long term, allowing the operation to ramp up to full production in FY15. "This temporary production interruption is typical of a newly built operation. As you mine deeper and as production builds up, commissioning challenges are experienced. We have a lot of confidence in the geology and grade of South Reef and the upgrade allows us to exploit more of the developed South Reef reserves at an improved rate in future", said Graham Briggs, chief executive officer. ends. For more details contact: Graham Briggs Chief Executive Officer On +27 (0)83 265 0274 Corporate Office: Randfontein Office Park PO Box 2 Randfontein South Africa 1760 T: +27 (0)11 411 2000 www.harmony.co.za 17 February 2012 Sponsor: J.P. Morgan Equities Limited Date: 17/02/2012 09:18:18 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.

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