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Harmony Gold Mining Co. Ltd. - NEWS RELEASE

Release Date: 31/07/2002 14:33:18      Code(s): HAR
Harmony Gold Mining Co. Ltd. - NEWS RELEASE                                     
HARMONY GOLD MINING COMPANY LIMITED                                             
ISIN No.: ZAE000015228                                                          
JSE: HAR                                                                        
NASDAQ: HGMCY                                                                   
HARMONY CONCLUDES BEE/SUPPLY INITIATIVE WITH IZINGODO HOLDINGS                  
Johannesburg, 31 July 2002 - Harmony today announced that Izingodo Holdings, a  
black controlled consortium that have acquired a significant stake in Timrite   
(Pty) Ltd, will in future supply 90% of the company`s timber requirements. The  
initial stake taken by Izingodo is the first tranche in an acquisition programme
that will result in the company acquiring the majority stake in Timrite over the
next few years.                                                                 
Timrite was the largest contract supplier to Harmony, supplying the bulk of the 
company`s mining timber requirements to the value of R102 million per annum and 
managing its timber yards.                                                      
The acquisition by Izingodo of Timrite is in line with Harmony`s Black Economic 
Empowerment-Suppliers Policy. In terms of this policy Harmony is committed to   
transforming its purchasing policy and power towards black owned suppliers      
without compromising on price, quality and service. The Izingodo /Timrite       
transaction is an important part of this programme.                             
Izingodo Timrite (Pty) Ltd, as the new company will be known, will be the first 
major Black Empowered timber company servicing the mining industry.             
The Izingodo Holdings consortium comprises Nthato and Karabo Motlana, sons of   
well-known Dr. Nthato Motlana, as well as Eric Mabuza, a businessman and        
advocate based in Mpumalanga. Mr Mabuza will be the chairman of the company.    
Nthato Motlana, who is to become an executive director of the company, is well  
known in the Timber industry. Mr. Motlana founded Madiba sawmills, the first    
black owned sawmill in South Africa. Since 1999, he has been chairman of the    
South African Lumber Millers` Association and serves on the National Forestry   
Advisory Council, a statutory body that advises the Minister of Water Affairs   
and Forestry.                                                                   
Ends                                                                            
IZINGODO TIMRITE (PTY) LTD                                                      
Contact:  Nthato Motlana                                                        
Phone:    +27 11 465 1600                                                       
For further details contact:                                                    
Bernard Swanepoel                                                               
on +27(0)83 303 9922                                                            
or                                                                              
Ferdi Dippenaar                                                                 
on +27(0)82 807 3684                                                            
Issued by Harmony Gold Mining Company Limited                                   
Contact:                                                                        
Corne Bobbert                                                                   
Tel +27 11 684 0146                                                             
Fax +27 11 684 0188 Mobile +27(0)83 380 6614                                    
E-mail: cbobbert@harmony.co.za                                                  
Web site:                                                                       
www.harmony.co.za                                                               
Date: 31/07/2002 02:32:42 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                                             



                                        
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