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HAR - Harmony - Investigation Into The Feasibility Of Re-Mining Certain

Release Date: 28/01/2008 17:29:01      Code(s): HAR
HAR - Harmony - Investigation Into The Feasibility Of Re-Mining Certain         
                   Tailings Dams In The Welkom Area                             
Harmony Gold Mining Company Ltd                                                 
Incorporated in the Republic of South Africa                                    
Registration number: 1950/038232/06                                             
JSE share code: HAR                                                             
NYSE:       HMY                                                                 
NASDAQ: HMY                                                                     
ISIN: ZAE000015228                                                              
("Harmony")                                                                     
INVESTIGATION INTO THE FEASIBILITY OF RE-MINING CERTAIN TAILINGS DAMS IN THE    
WELKOM AREA                                                                     
Harmony Gold Mining Company Limited (Harmony) is investigating the feasibility  
of re-mining some of its old tailings dams at its operations in the Welkom area.
The objectives of the project are to re-mine old tailings dams, re-process the  
tailings to extract gold and consolidate the residue tailings from the          
processing plant onto three tailings facilities.                                
Nine historic tailings dams in the Welkom area are being considered as part of  
this project. The proposed operations in Welkom will process about 240Mt of     
tailings from these existing tailings dams. The project consists broadly of the 
following components:                                                           
*    Re-mining the nine existing tailings facilities                            
*    Pipelines to supply water to the re-mining areas, and to transport the     
slurry to the processing plant                                              
*    Gold to be removed from the slurry at the existing St Helena processing    
    plant.                                                                      
*    Pipelines to supply water to the processing plant and to transport tailings
residue from the processing plant to three tailings deposition facilities.  
Graham Briggs, Chief Executive Officer says, "The re-mining of tailings presents
an ideal opportunity to consolidate tailings facilities spread across the region
into three tailings facilities. This will allow for better management of the    
facilities and the implementation of stricter control on environmental          
management, which earlier facilities may not have taken into account during     
design."                                                                        
The reprocessing of tailings is focused on gold extraction. The potential       
extraction of uranium is still being assessed.                                  
Gold may be reclaimed from the slurry at the existing St Helena processing      
plant, situated south-west of Welkom. The plant was mothballed almost three     
years ago and could be brought into production again. It may be expanded to     
allow for the treatment of the required volumes of slurry.                      
Several regulatory processes are being conducted, including an Environmental    
Impact assessment. The purpose of the EIA is to evaluate potential negative and 
positive environmental and social impacts.                                      
Should the Harmony re-mining project be approved by the authorities, it is      
expected that construction at these operations will commence towards the end of 
2008. It is anticipated that about 130 temporary job opportunities will be      
created during the construction phase. Furthermore, about 150 permanent jobs are
expected to be created by the project over a 20- year period. This is subject to
the outcome of the engineering studies.                                         
    Three significant benefits that will flow from the proposed project include 
    addressing environmental concerns related to the existing nine tailings     
dams; consolidating tailings using current best practice and significantly  
    reducing current environmental impacts; and the economic benefit of gold    
    recovery.                                                                   
    Harmony`s successful and profitable tailings project near Virginia, the R41 
million Phoenix project, was upgraded to process 500 000 tonnes per month.  
    It is anticipated that the St Helena plant would be a profitable business;  
    capital and working cost estimates are yet to be finalised.                 
    Harmony welcomes stakeholders` participation in the EIA process to identify 
issues of concern and suggestions for enhanced benefits.                    
Issued by Harmony Gold Mining Company Limited                                   
28 January 2008                                                                 
For more details contact:                                                       
Graham Briggs                                                                   
Chief Executive Officer                                                         
on +27(0)11 411 2012                                                            
+27 (0)83 265 0274                                                              
or                                                                              
Amelia Soares                                                                   
General Manager, Investor Relations                                             
on +27 11 411 2314 or                                                           
+27 (0)82 654 9241                                                              
Sponsor                                                                         
Merrill Lynch South Africa (Proprietary) Limited                                
Date: 28/01/2008 17:29:01 Supplied by www.sharenet.co.za                     
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