HARMONY - PROTECTED STRIKE AT HARMONY"S JOEL MINE Release Date: 26/08/2004 13:18:01 Code(s): HAR
HARMONY - PROTECTED STRIKE AT HARMONY"S JOEL MINE
HARMONY GOLD MINING COMPANY LIMITED
ISIN No.: ZAE000015228
PROTECTED STRIKE AT HARMONY"S JOEL MINE
Johannesburg, Thursday 26 August 2004 - Harmony Gold Mining Company Limited
(NYSE: HMY JSE: HAR) announced today that members of the National Union of
Mineworkers (NUM) embarked on a protected strike at the company"s Joel Mine as
of the night shift on Tuesday 24 August 2004.
The Union declared a dispute following the parties" inability to reach an
agreement on the replacement of employees that have been declared medically
unfit to continue with their work due to poor health. The Union is demanding
that these employees be replaced with members of their families.
Currently four employees are due for medical separation at Joel Mine.
"Joel Mine, one of our more leveraged operations in the Free State, produced
approximately 62 000 ounces at a cash cost of US$420 per ounce during the past
financial year. Joel, an operation in need of restructuring to ensure its
profitability, requires operational stability. This strike puts the future of
these operations at risk," commented Bernard Swanepoel, Chief Executive.
Harmony has received various reports of intimidation and alleged assaults on
employees choosing to return to their place of work and the company have
subsequently requested that the South African Police investigate the reports.
"Protracted negotiations to end the strike have continued over the last two
days. Harmony remains committed to these negotiations, which will hopefully see
employees return to their place of work, as well as dealing with the challenges
to ensure the survival of these operations," concluded Bernard.
26 August 2004
Date: 26/08/2004 01:18:04 PM Supplied by www.sharenet.co.za
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