HARMONY GOLD MINING CO. LTD
Joint News Release by Harmony Gold Mining Co. Ltd. and African Rainbow
Minerals (Pty) Ltd. (ARM)
ARM/HARMONY JV GETS COMPETITION TRIBUNAL APPROVAL
Johannesburg, 21 February 2002 - Harmony Gold Mining Company Limited
("Harmony") and African Rainbow Minerals (Pty) Ltd. ("ARM") today announced
that the Competition Authorities approved the proposed acquisition of
AngloGold's Free State assets ("Freegold") on 20 February 2002.
There are no conditions attached to the approval. The two conditions
precedent that remain to be fulfilled are the granting of the necessary
mining authorities to the Joint Venture by the Department of Minerals and
Energy, and the approval of the cession of the mining leases in respect by
the Minister of Minerals and Energy.
"We are pleased with the approval by the regulatory authorities, as this
progresses the logical consolidation of the Free State goldfields. From both
a strategic and operational perspective, the process is well on its way in
creating value for our shareholders," commented Bernard Swanepoel, chief
executive of Harmony.
Patrice Motsepe, executive chairman of ARM said, "The ARM/Harmony JV
continues to make significant progress in the removal of farm fences in this
important gold producing region. The benefits from consolidating the region
will significantly contribute to the upliftment of the area."
21 February 2002
For further details contact:
Issued by Harmony Gold Mining Company Limited
Tel +27 11 411 2036