Harmony Gold Mining Co. Ltd. - Harmony closes acquisition of stake in High RiverRelease Date: 22/11/2002 15:20:02 Code(s): HAR
Harmony Gold Mining Co. Ltd. - Harmony closes acquisition of stake in High River
Gold Mines Ltd.
ISIN No.: ZAE000015228
HARMONY CLOSES ACQUISITION OF STAKE IN HIGH RIVER
GOLD MINES LTD.
Johannesburg - 21 November 2002 - Harmony Gold Mining
Company Limited ("Harmony") (NASDAQ: HGMCY) today
announced that it has completed the acquisition of 17 074 861
common shares of High River Gold Mines Limited ("High River")
representing an approximate 21% interest in the issued share
capital of High River. Details of the acquisition were previously
announced in a press release issued by Harmony on November
About High River Gold
High River Gold (TSE:HRG) is a Toronto based company with
gold interests in Russia, Canada and West Africa.
The principle assets of High River Gold are:
* a 53% fully diluted equity interest in OJSC Buryatzoloto -
the 5th largest gold producer in Russia, with two operating
mines producing a total of approximately 150 000 oz per year.
As at the end of 2001 Buryatzoloto reported reserves and
resources of 1.4 million ounces and 5.3 million ounces
* an agreement to acquire a 100% interest in the Berezitovoye
Project situated in Siberia, Russia. The Berezitovoye deposit
is amenable to open-pit mining and under the Russian classification system
contains reserves of 1.38 million ounces gold and 6.49 million ounces silver.
* a 50% interest and joint operatorship of the New Britannia gold mine situated
in Manitoba, Canada - producing approximately 110 000 oz per year. As at the end
of 2001 New Britannia reported reserves and resources of 0.360 million ounces
and 0.760 million ounces respectively.
* an 80% interest in the Taparko gold project in Burkina Faso which has a gold
resource of approximately 1.0 million ounces.
Issued by Harmony Gold Mining Company Limited
For more details contact:
on +27(0)83 303 9922
on +27(0)82 807 3684
Tel +27 11 684 0146
Fax +27 11 684 0188 Mobile +27(0)83 380 6614
Date: 22/11/2002 03:19:58 PM Supplied by www.sharenet.co.za
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