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HARMONY GOLD MINING COMPANY LIMITED - Harmony delivers operational excellence - exceeds annual production guidance

Release Date: 23/07/2018 07:05
Code(s): HAR
 
Wrap Text
Harmony delivers operational excellence - exceeds annual production guidance

Harmony Gold Mining Company Limited
Registration number 1950/038232/06
Incorporated in the Republic of South Africa
ISIN: ZAE000015228
JSE share code: HAR
(“Harmony” and/or “the Company”)

HARMONY DELIVERS OPERATIONAL EXCELLENCE – EXCEEDS ANNUAL PRODUCTION GUIDANCE

Johannesburg. Monday, 23 July 2018. Harmony Gold Mining Company Limited (“Harmony” or
the “Company”) is pleased to announce that it has exceeded annual FY18 production
guidance by 4%. Operational highlights include:

-   Production guidance achieved – third consecutive year

    Gold production of 1.228 million ounces achieved, exceeding annual production
    guidance of 1.18 million ounces. The South African operations recorded a 14%
    increase in gold production of which Moab Khotsong produced 105 900 ounces
    (contributing 10% of the increase in SA gold production) for the four months the
    operation has been included in Harmony’s asset portfolio

-   8% increase in underground recovered grade – sixth consecutive year of increasing
    grade

    Underground recovered grade of 5.48g/t achieved in FY18

-   Costs well contained

    All-in sustaining cost is expected to be below guidance of R520 000/kg

“We are extremely proud of our production performance. We recognise that safety
requires increased attention and we are committed to continue driving a culture of
safety. Safety, costs and production are the only variables that we can control and we
will build on the momentum achieved in FY18” said Peter Steenkamp, chief executive
officer of Harmony.

The US$200 million bridge facility raised for the Moab Khotsong transaction has been
fully repaid utilising available cash resources and the proceeds received from the
share placement.

Harmony’s successful hedging strategy continues to lock in attractive margins. For
details of the hedging programme in place at 30 June 2018 and a presentation
supporting this release, please refer to
https://www.harmony.co.za/invest/presentations/2018.

Annual operating and financial results for the year ended 30 June 2018 will be
announced on Tuesday 21 August 2018.

ends.

For more details contact:

Lauren Fourie
Investor Relations Manager
+27(0)71 607 1498

Marian van der Walt
Executive: Investor Relations
+27(0)82 888 1242 (mobile)

Johannesburg, South Africa
23 July 2018

Sponsor:
J.P. Morgan Equities South Africa Proprietary Limited

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