HARMONY GOLD MINING COMPANY LIMITED - HARMONY AND UNIONS REACH LANDMARK Release Date: 21/05/2004 17:51:52 Code(s): HAR
HARMONY GOLD MINING COMPANY LIMITED - HARMONY AND UNIONS REACH LANDMARK
Harmony Gold Mining Company Limited
ISIN No.: ZAE000015228
HARMONY AND UNIONS REACH LANDMARK AGREEMENT
Johannesburg, Friday 21 May 2004 - Harmony Gold Mining Company Limited
(NYSE: HMY JSE: HAR) today announced that significant progress had been made in
follow up negotiations with the respective unions following a discussion to
restructure some of its loss-making operations.
At a meeting held today between the company, NUM, UASA and Solidarity, the
parties agreed on the following principles:
i) to strongly focus on the re-skilling and redeployment of employees affected
by the restructuring initiatives;
ii) to identify both areas of growth and possible downscaling within the
iii) Continous Operations ("CONOPS") in the context of creating opportunities
for both growth and marginal operations;
iv) to accelerate discussions on the actual implementation of CONOPS at the
individual operations, and
v)voluntary retrenchments at all operations.
With the abovementioned principles being agreed to on National level,
negotiations will now be moved to the individual operations.
"We are extremely pleased with the outcome of the negotiations which have taken
place over the past few weeks. All parties should be congratulated for their
positive approach to dealing with operations within Harmony which have come to
the end of their economical life," commented Bernard Swanepoel, Chief Executive.
"With the introduction of CONOPS throughout the company, we anticipate that the
loss of employment opportunities will be minimised. All stakeholders in Harmony
stand to benefit from this important agreement," he concluded.
Issued by Harmony Gold Mining Company Limited
21 May 2004
For more details contact:
on +27(0)83 303 9922
on +27(0)82 807 3684
Investor Relations Officer
Tel +27 11 684 0146
Mobile +27(0)83 380 6614
ISIN No.: ZAE000015228
Date: 21/05/2004 05:51:57 PM Supplied by www.sharenet.co.za
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