HARMONY GOLD MINING COMPANY LIMITED - HARMONY"S EVANDER AND RANDFONTEIN Release Date: 26/10/2004 07:43:03 Code(s): HAR
HARMONY GOLD MINING COMPANY LIMITED - HARMONY"S EVANDER AND RANDFONTEIN
OPERATIONS GRANTED FIRST `NEW" ORDER" MINING RIGHTS
Harmony Gold Mining Company Limited
(Incorporated in the Republic of South Africa)
(Registration number 1950/038232/06)
Share code: HAR ISIN: ZAE000015228
HARMONY"S EVANDER AND RANDFONTEIN OPERATIONS GRANTED FIRST `NEW" ORDER" MINING
Johannesburg, Monday 25 October 2004 - Harmony Gold Mining Company Limited
(NYSE: HMY JSE: HAR) today announced that it received the first approvals for
the conversion from `old order" to `new order" mining rights for its Evander and
The Evander application was lodged with the Mpumalanga Department of Minerals
and Energy on 21 May 2004 and covers all the Evander operating shafts as well as
the Poplar and Rolspruit Projects. The Evander mining license was the first
conversion application in the region and the first license in the gold mining
industry to be granted in South Africa. The second application was for
Randfontein (including the Doornkop Joint Venture and Elandskraal) and was the
first application approved by the Gauteng Department of Minerals and Energy.
"It has been a long and rigorous process leading to the granting of Harmony"s
first licences. It has required a lot of hard work and months of consulting with
the Department of Minerals and Energy and other stakeholders at a regional and
national level. The process also required a high level of detail and accuracy
the social aspects of which are to be taken very seriously but we are extremely
pleased with the outcome," commented Bernard Swanepoel, Chief Executive.
"Harmony has been working on its programme of licensing for the past 18 months.
This process involved the compilation of a mineral assets register and the
identification of all its economical mineral and mining rights. The company
first secured all `old order" mining rights and validated existing mining
authorizations during 2003. Our strategy has been one of securing all strategic
mining rights on a region-by region basis," said Bernard.
The mining license conversion process was facilitated by Khusela Women
Investment. Khusela is a BEE company, the members of which were all formerly
employed by Harmony.
"The granting of the licences will go a long way in dealing with unfounded
concerns of local and international investors on the security of mining rights
held by our company. South Africa, still the largest gold producer in the world,
provides excellent investment opportunities and we are happy to operate mines in
the country to the benefit of all our stakeholders," concluded Bernard.
More information on mineral rights ownership
On 1 May 2004, the South African Parliament promulgated the Mineral and
Petroleum Resources Development Act. Under the Act, tenure licenses over
established operations will be secure for 30 years (and renewable for 30 years
thereafter), provided that mining companies obtain new licenses over existing
operations within five years of date of enactment of the Act and fulfill
requirements specified in the Broad-Based Socio-Economic Empowerment Charter for
the South African mining industry, or the Mining Charter.
Issued by Harmony Gold Mining Company Limited
25 October 2004
For more details contact:
Bernard Swanepoel or Ferdi Dippenaar
Chief Executive Marketing Director
on +27(0)83 303 9922 on +27(0)82 807 3684
on +27(0)381 9468
Investor Relations Officer
Tel +27 11 684 0146
Mobile +27(0)83 380 6614
ISIN No.: ZAE000015228
Date: 26/10/2004 07:43:06 AM Supplied by www.sharenet.co.za
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