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Harmony Gold Mining Company Limited

Release Date: 23/10/2001 08:05:47      Code(s): HAR
Reported offer for Harmony Free State assets
"Harmony has no intention to dispose of its Free State assets," says chief
executive Bernard Swanepoel." Since these are the assets which will form the
platform for the Free State consolidation, if the Harmony/ARM Joint Venture
is successful in its bid for the AngloGold Free State assets."
The company said that although they cannot stop parties from making offers
for their assets, they find the current offer from the Khumo consortium
opportunistic as they are currently in competition for the AngloGold Free
State assets.
Whether successful or not as part of the joint venture, Harmony intends to
continue to operate in the Free State where it has over the last six years
turned around numerous mines and established a track record as a good
corporate citizen.  In the process approximately 18 000 jobs have been saved
which otherwise would have been lost in a region which requires
consolidation to ensure its future as a significant gold producer and
The Free State is also home to Harmony's refinery around which numerous
beneficiation and value adding projects are currently under way.
"We  regret  if  the continued rumours cause confusion for our shareholders,
employees and the other stakeholders, and Harmony wants to put on record its
intention to continue to remain in the Free State. The Khumo consortium  and
its  agents have been informed in writing of our stated position," concludes
Bernard Swanepoel.

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