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HAR - Harmony Gold Mining Company Limited - Papua New Guinea Gold joint venture

Release Date: 08/08/2008 08:00:07      Code(s): HAR
HAR - Harmony Gold Mining Company Limited - Papua New Guinea Gold joint venture 
commences                                                                       
Harmony Gold Mining Company Ltd                                                 
Incorporated in the Republic of South Africa                                    
Registration number: 1950/038232/06                                             
Share code: HAR                                                                 
ISIN: ZAE000015228                                                              
("Harmony")                                                                     
PAPUA NEW GUINEA GOLD JOINT VENTURE COMMENCES                                   
Port Moresby, Papua New Guinea                                                  
7 August 2008                                                                   
Harmony Gold Mining Company Limited (Harmony) and Newcrest Mining Limited       
(Newcrest) announced today that Newcrest has now acquired its initial 30.01%    
interest in the joint venture holding exploration and mining assets in the      
Morobe province of Papua New Guinea (PNG).                                      
The announcement follows Newcrest`s payment of US$230 million* to Harmony and   
the completion of all steps required to achieve Stage 1 of the joint venture,   
including government and regulatory approvals.                                  
Newcrest will increase its interest in the joint venture to 50% by sole funding 
all project expenditure until the date of first production from the Hidden      
Valley mine, up to a maximum of US$306 million*.  Production is scheduled to    
commence at Hidden Valley in mid-2009.                                          
The completion of Stage 1 today marks the commencement of the joint venture.    
The joint venture assets, which will be operated under the name Morobe Mining   
Joint Ventures, include the Hidden Valley gold mine, as well as the highly      
prospective Wafi Golpu copper/gold deposit and extensive exploration tenements  
in the Morobe province of PNG.                                                  
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                              
Phone:  +61 3 9522 5316                 61 3 9522 5376                          
Email:   karen.mcrae@newcrest.com.au    daryl.corp@newcrest.com.au              
*  Numbers adjusted from original news release (22 April 2008), to reflect      
additional time required to complete Stage 1, including approvals etc. Total    
consideration paid by Newcrest may be lower, depending on actual project        
expenditure.                                                                    
Date: 08/08/2008 08:00:07 Supplied by www.sharenet.co.za                     
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