Harmony - News release from Harmony Release Date: 24/03/2005 16:12:01 Code(s): HAR Harmony - News release from Harmony
Harmony Gold Mining Company Limited
(Incorporated in the Republic of South Africa)
(Registration number 1950/038232/06)
Share code: HAR ISIN: ZAE000015228
("Harmony")
NEWS RELEASE FROM HARMONY
24 March 2005
Further updates
Strike action in Free State
Harmony confirmed that approximately 21 000 people employed in the original
Harmony and Freegold operations in the Free State went out on strike last night.
The company estimates that production loss per working day will be 5000 oz,
which will impact the operating profit by approximately R1 million per day based
on the December quarter"s results.
The National Union of Mineworkers (NUM) have informed Harmony they will be
taking the four-day Easter weekend off, so negotiations to resolve the issues in
dispute will only resume on Tuesday.
Harmony Director Ferdi Dippenaar also confirmed that "employees and members of
NUM at our Target operations did not go out on strike following the successful
interdict Harmony was granted last night."
Dippenaar reiterated that unresolved issues include a demand that Harmony
implement the Mining Charter with immediate effect, which he says is something
impossible to do over night, but that significant progress had been made by
Harmony. "We"re the only mining house in South Africa which has converted from
`old order" to `new order" mining rights according to the Charter requirements."
Addendum to mid-quarter update
With regard to information released at the mid-quarter update on 10 March 2005,
to ensure that Harmony remains compliant with the guidelines attached to the
South African Code for Reporting of Mineral Resources (The SAMREC code), the
paragraph reading
The CPR, now in the process of being filed with the JSE, shows that Harmony"s
audited proven and probable reserves total 52,1 million ounces. Another 8,3
million ounces of inferred reserves bring Harmony"s total to 60,4 million
ounces, in line with the guidance given at the December quarterly results
presentation and representing only a 3% difference between Harmony"s and SRK"s
reserve estimates.
Should read
The CPR, now in the process of being filed with the JSE, shows that SRK"s
audited estimate of Harmony"s proven and probable reserves total 52,1 million
ounces. Another 8,3 million ounces which are currently classified by SRK as
inferred resources are included in Harmony"s life of mine plans.
ENDS
Issued by (direct line, mobile, email):
Harmony Gold
Ferdi Dippenaar +27 11 684 0140 +27 82 807 3684
Vusi Magadana +27 11 684 0140 +27 72 157 5986
South Africa - Beachhead Media & Investor Relations
Jennifer Cohen +27 11 214 2401 +27 82 468 6469 jennifer@bmsa.co.za
Patrick Lawlor +27 11 214 2410 +27 82 459 6709 patrick@bmsa.co.za
United States - Financial Dynamics Business Communications
Hollis Rafkin-Sax +1 212 850 5789 +1 917 509 0255 hrafkin-sax@fd-us.com
Torie Pennington +1 212 850 5629 +1 917 838 1369 tpennington@fd-us.com
United Kingdom - Financial Dynamics Business Communications
Nic Bennett +44 207 269 7115 +44 7979 536 619 nic.bennett@fd.com
Charles Watenphul +44 207 269 7216 +44 7866 438 013charles.watenphul@fd.com
US Information Agent - MacKenzie Partners, Inc
Daniel Burch +212 929 5500 proxy@mackenziepartners.com
Steve Balet +800 322 2885
Unless the context otherwise requires, the definitions contained in the offer
document or the registration statement sent to Gold Fields shareholders have the
same meaning in this announcement.
The directors of Harmony accept responsibility for the information contained in
this announcement. To the best of the knowledge and belief of the directors of
Harmony (who have taken all reasonable care to ensure that such is the case),
the information contained in this announcement is in accordance with the facts
and does not omit anything likely to affect the import of such information.
In connection with the proposed acquisition of Gold Fields, Harmony has filed a
registration statement (File no: 333-120975) on Form F-4 (which was declared
effective by the Securities and Exchange Commission ("SEC") on February 28,
2005) and filed a final prospectus, dated February 25, 2005, with the SEC
pursuant to Rule 424(b)(3) of the Securities Act of 1933, to register the
Harmony ordinary shares (including Harmony ordinary shares represented by
Harmony American Depositary Shares ("ADSs")) to be issued in exchange for Gold
Fields ordinary shares held by Gold Fields shareholders located in the United
States and for Gold Fields ADSs held by Gold Fields shareholders wherever
located, as well as a Statement on Schedule TO. Investors and holders of Gold
Fields securities are strongly advised to read the registration statement, the
related exchange offer materials and the final prospectus, the Statement on
Schedule TO and any other relevant documents filed with the SEC, as well as any
amendments and supplements to those documents, because they contain important
information. Investors and holders of Gold Fields securities may obtain free
copies of the registration statement, related exchange offer materials, the
final prospectus and the Statement on Schedule TO, as well as other relevant
documents filed or to be filed with the SEC, at the SEC"s web site at
www.sec.gov. Investors and holders of Gold Fields securities will receive
information at an appropriate time on how to obtain transaction-related
documents for free from Harmony or its duly designated agent. The final
prospectus and other transaction-related documents may be obtained for free from
MacKenzie Partners, Inc., the information agent for the U.S. offer, at the
following address: 105 Madison Avenue, New York, New York 10016; telephone 1
(212) 929 5500 (call collect) or 1 (800) 322 2885 (toll-free call); e-mail
proxy@mackenziepartners.com.
This communication is for information purposes only. It shall not constitute an
offer to purchase or exchange or the solicitation of an offer to sell or
exchange any securities of Gold Fields or an offer to sell or exchange or the
solicitation of an offer to buy or exchange any securities of Harmony, nor shall
there be any sale or exchange of securities in any jurisdiction in which such
offer, solicitation or sale or exchange would be unlawful prior to the
registration or qualification under the laws of such jurisdiction. The
distribution of this communication may, in some countries, be restricted by law
or regulation. Accordingly, persons who come into possession of this
communication should inform themselves of and observe these restrictions. The
solicitation of offers to buy Gold Fields ordinary shares (including Gold Fields
ordinary shares represented by Gold Fields ADSs) in the United States will only
be made pursuant to a prospectus and related offer materials that Harmony has
sent to holders of Gold Fields securities. The Harmony ordinary shares
(including Harmony ordinary shares represented by Harmony ADSs) may not be sold,
nor may offers to buy be accepted, in the United States prior to the time the
registration statement becomes effective. No offering of securities shall be
made in the United States except by means of a prospectus meeting the
requirements of Section 10 of the United States Securities Act of 1933, as
amended.
Date: 24/03/2005 04:12:07 PM Supplied by www.sharenet.co.za
Produced by the JSE SENS Department
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