HARMONY GOLD MINING COMPANY LIMITED - Harmony's conclusion of the acquisition of Eva Copper

Harmony's conclusion of the acquisition of Eva Copper

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


HARMONY’S CONCLUSION OF THE ACQUISITION OF EVA COPPER MARKS THE
BEGINNING OF ITS STRATEGIC DIVERSIFICATION INTO A FUTURE-FACING METAL


Johannesburg, Thursday, 15 December 2022. Further to the Company’s
announcement on the Stock Exchange News Services (“SENS”) on 6 October
2022, Harmony is pleased to announce that its acquisition of the Eva
Copper project (“acquisition”) is complete and payment will be
concluded towards the end of this week.


“The conclusion of this acquisition marks the beginning of our
strategic diversification into copper, a future-facing metal. Eva
Copper will further de-risk the business as it provides entry into a
Tier 1 jurisdiction, counter-cyclical diversification of revenue and
meets Harmony’s investment criteria. In addition, Eva Copper is a
fully permitted project and meets all environmental, social and
governance (ESG) requirements, demonstrating responsible
stewardship,” said Peter Steenkamp, Harmony’s Chief Executive Officer.


The Foreign Investment Review Board in Australia notified Harmony on
13 December 2022 that it has no objections to the acquisition, while
Copper Mountain Mining Corporation received bondholder approval under
its senior secured bonds on 28 November 2022. These were the only
conditions precedent required for completion of this acquisition.

Payment of the upfront US$170 million (circa R3 billion) using cash
and available revolving credit facilities is being processed. Harmony
remains comfortably within its debt covenants following the conclusion
of this acquisition. For additional details regarding this
acquisition, shareholders of Harmony are referred to the
aforementioned SENS release dated 6 October 2022.

Harmony’s Brisbane-based project team is currently undertaking a
detailed review of the existing feasibility study. Contractors have
been mobilised in support of this work. As part of the project review
and optimisation process, which is expected to take up to 12 months,
Harmony will determine the most effective way of executing the project
and financing the capital requirements to bring the mine into
production.


Eva Copper will be integrated as a subsidiary of the Harmony group of
companies and as such, will adhere to the provisions of paragraph
10.21 of Schedule 10 of the JSE Listings Requirements.


About Harmony
Harmony is South Africa’s largest gold miner by volume, producing
between 1.4 million and 1.5 million ounces in gold and gold equivalents
per annum. Harmony has operations and several projects in South Africa,
Papua New Guinea and Australia. As at 30 June 2022, Harmony has 39.8Moz
in gold and gold equivalent Mineral Reserves and 132.6Moz in gold and
gold equivalent Mineral Resources. Harmony trades on the JSE under the
“HAR” ticker and on the NYSE under the ticker “HMY”.


Additional information is available on the Company’s web page at
www.harmony.co.za.


For more details contact:


Jared Coetzer
Head of Investor Relations
+27 (0)82 746 4120


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

Date: 15-12-2022 10:15:00
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