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HAR - Harmony Gold Mining Company - Announcement

Release Date: 31/07/2007 08:07:53      Code(s): HAR
HAR - Harmony Gold Mining Company - Announcement                                
HARMONY GOLD MINING COMPANY LIMITED                                             
Incorporated in 1950                                                            
Registration number 1950/038232/06                                              
Share code: HAR                                                                 
NASDAQ, NYSE: HMY                                                               
ISIN: ZAE000015228                                                              
ANNOUNCEMENT                                                                    
Johannesburg, 31 July 2007. Harmony Gold Mining Company Limited                 
(Harmony) announces that it has signed an agreement with Dioro                  
Exploration NL (Dioro) for the sale to all rights, title and interest           
of the South Kal Mine Operations located near Kalgoorlie, Western               
Australia.                                                                      
Dioro Exploration NL (Dioro) is an ASX listed company with diversified          
mineral interests in Western Australia.                                         
The sale of the South Kal Mine to Dioro is subject to and conditional           
upon the fulfilment of the following significant conditions precedent:          
1.   Dioro obtaining from its shareholders the necessary approval to            
 conclude the transaction of this agreement.                                    
2.   Dioro raising the required capital of at least A$35 million                
(approximately R210 million) in terms of this agreement for the                 
acquisition of South Kal.                                                       
3.   The obtaining by the parties of all governmental and other                 
regulatory approvals necessary for the conclusion and implementation           
 of the agreement                                                               
The consideration payable to Harmony by Dioro for the sale of the               
assets is as follows:                                                           
- the sum of A$25 million (approximately R150 million) payable in cash          
to Harmony on   completion; and                                                 
- the issue of the Consideration Shares to the value of A$20 million            
(approximately R120 million)  to Harmony.                                       
The closing date of the transaction is expected to be during October            
2007.                                                                           
Bernard Swanepoel, Harmony`s Chief Executive says, "the proposed sale           
of South Kal is in line with our three-pronged strategy of which                
disposals is one component. The sale of these assets will bring                 
further efficiency gains and provide capital for our higher value               
projects in South Africa and Papua New Guinea."                                 
ends.                                                                           
Issued by Harmony Gold Mining Company Limited                                   
31 July 2007                                                                    
For more details contact:                                                       
Bernard Swanepoel                                                               
Chief Executive                                                                 
on +27(0)83 303 9922                                                            
or                                                                              
Amelia Soares                                                                   
Investor Relations General Manager                                              
on +27(0)82 654 9241                                                            
or                                                                              
Lizelle du Toit                                                                 
Investor Relations Officer                                                      
on +27(0)82 465 1244                                                            
Sponsor                                                                         
Merrill Lynch South Africa (Pty) Limited                                        
Date: 31/07/2007 08:07:53 Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                             .                  



                                        
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