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HAR - Harmony Gold Mining Company - Sale Agreement Between Harmony And Monarch

Release Date: 01/08/2008 10:08:02      Code(s): HAR
HAR - Harmony Gold Mining Company - Sale Agreement Between Harmony And Monarch  
                                  Gold Terminated                               
Harmony Gold Mining Company Ltd                                                 
Incorporated in the Republic of South Africa                                    
Registration number: 1950/038232/06                                             
Share code: HAR                                                                 
ISIN: ZAE000015228                                                              
Sale Agreement Between Harmony And Monarch Gold Terminated                      
Johannesburg. Friday, 1 August 2008. Harmony Gold Mining Company Limited        
(Harmony) refers to its shareholder update of 8 July 2008, whereby it was       
advised that the terms of the sale contract of Harmony`s Mt Magnet operations in
Western Australia with Australian based junior miner Monarch Gold Mining Company
(Monarch) had been reconstituted.                                               
Subsequent to that, Monarch placed itself in voluntary administration. The      
Administrator has indicated that Monarch will not proceed with the proposed     
purchase and consequently the purchase agreement has been terminated.           
Harmony received from Monarch a deposit of A$5 million of which A$2.5 million is
The Mt Magnet asset package includes Hill 50, Great Fingall, St George, Star and
Big Bell mines, which comprises a resource inventory of 2.7Moz of gold,         
tenements covering about 62,000 hectares and 166 exploration licence blocks,    
along with a 2.7Mt a year capacity plant.                                       
Mt Magnet operations are currently on care and maintenance. Annual minimum      
tenement expenditure including rents and rates is A$5 million. Harmony has      
resumed management of the operation and has re-commenced the sale process.      
Issued by Harmony Gold Mining Company Limited                                   
For more details contact:                                                       
Graham Briggs                                                                   
Chief Executive Officer                                                         
on +27(0)83 265 0274                                                            
Amelia Soares                                                                   
General Manager, Investor Relations                                             
on +27(0)82 654 9241                                                            
Merrill Lynch South Africa (Pty) Limited                                        
1 August 2008                                                                   
Date: 01/08/2008 10:08:01 Supplied by www.sharenet.co.za                     
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