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HAR - Harmony - Ministerial approval for Papua New Guinea Gold joint venture

Release Date: 16/07/2008 15:23:02      Code(s): HAR
HAR - Harmony - Ministerial approval for Papua New Guinea Gold joint venture    
Harmony Gold Mining Company Ltd                                                 
Incorporated in the Republic of South Africa                                    
Registration number: 1950/038232/06                                             
Share code: HAR                                                                 
ISIN: ZAE000015228                                                              
Newcrest Mining Limited                                                         
Port Moresby, Papua New Guinea - Wednesday, 16 July 2008                        
The Acting Prime Minister of Papua New Guinea and Minister for Mines, Hon Dr    
Puka Temu on Friday approved the Joint Venture arrangements between Harmony Gold
Mining Company Limited (Harmony) and Newcrest Mining Limited (Newcrest).        
The ministerial approval paves the way for the conclusion of formalities between
the two companies and the development of the joint venture interests in Papua   
New Guinea.  These include the Hidden Valley gold mine which is expected to     
commence production mid-2009 and the highly prospective Wafi Golpu copper/gold  
Shareholders are advised that all conditions precedent to the joint venture     
agreement, which included regulatory and statutory approvals by the PNG         
Government, have now been met. Stage 1 Completion (Newcrest acquiring a 30.01%  
interest) is now expected to occur in early August, 2008.                       
Newcrest brings significant technical skills to the joint venture, including    
areas of exploration, project delivery and large scale mining and adds          
substantially to the development potential of the joint venture`s PNG assets.   
Chief executive officer of Harmony, Graham Briggs says, "We are pleased with the
ministerial approval which will pave the way for the conclusion of all          
conditions precedent. Not only does the joint venture augur well for both       
companies, but it will also provide broader employment opportunities and        
corporate social investment for Papua New Guinea.                               
For further information, please contact:                                        
Harmony Gold Company Limited                                                    
Graham Briggs                 Amelia Soares                                     
Chief Executive Officer       General Manager, Investor Relations               
+27 (0) 11 411 2023           +27 (0) 11 411 2314                               
+27 (0) 83 265 0274           +27 (0) 82 654 9241                               
Newcrest Mining Limited                                                         
Investor Enquiries                      Media Enquiries                         
Karen McRae                             Daryl Corp                              
Telephone: +61 3 9522 5316              +61 3 9522 5376                         
Email: karen.mcrae@newcrest.com.au      daryl.corp@newcrest.com.au              
Sponsor to Harmony                                                              
Merrill Lynch South Africa (Pty) Limited                                        
Date: 16/07/2008 15:23:01 Supplied by www.sharenet.co.za                     
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