HARMONY - ANNOUNCEMENTRelease Date: 06/02/2001 15:41:27 Code(s): HAR HARO
Harmony Gold Mining Company Limited
(Registration number 1950/038232/06)
("Harmony" or "the Company")
Harmony secures financing for the acquisition of the Elandsrand and Deelkraal
mines as well as New Hampton Goldfields Limited ("New Hampton")
Harmony is pleased to announce that it has secured commitments from a group of
banks to provide the necessary financing for the acquisition of the Elandsrand
and Deelkraal mines, the announced bid for Australian based New Hampton and to
refinance existing indebtedness. The financing is subject inter alia to South
African Reserve Bank approval.
The Arrangers are Absa Bank Limited, ANZ Investment Bank, BoE Bank Limited,
Citibank, N.A. and JP Morgan plc.
As part of the process of securing these commitments, Harmony has completed
price protection arrangements for an initial period of 12 months through the
purchase of 1 million ounces of put options at a strike price of approximately
R64 000 per kilogram. This arrangement will protect Harmony from potential
adverse movements in the gold price, whilst ensuring that the Company is able
to fully participate in any increase in the gold price.
6 February 2001
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