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HAR - Harmony Proceeds With Pamodzi Free State Acquisition

Release Date: 09/09/2009 08:00:12      Code(s): HAR
HAR - Harmony Proceeds With Pamodzi Free State Acquisition                      
Harmony Gold Mining Company Limited                                             
Registration number 1950/038232/06                                              
Incorporated in the Republic of South Africa                                    
ISIN: ZAE000015228                                                              
JSE share code: HAR                                                             
("Harmony" or "the company")                                                    
HARMONY PROCEEDS WITH PAMODZI FREE STATE ACQUISITION                            
Liquidators, National Union of Mineworkers, Solidarity and The Industrial       
Development Corporation in support                                              
Johannesburg. Wednesday, 9 September 2009. On 28 August 2009, Harmony Gold      
Mining Company Limited (Harmony) suspended its negotiations with the provisional
liquidators of Pamodzi Gold Free State (Proprietary) Limited (in provisional    
liquidation) (Pamodzi Gold Free State) in respect of its acquisition of the     
assets of Pamodzi Gold Free State in order to allow all stakeholders an         
opportunity to assess the proposed recapitalisation of the Pamodzi Gold group of
companies and the likelihood of it succeeding.                                  
Harmony announced today that it had recommenced discussions with the provisional
liquidators of Pamodzi Gold Free State and that all of the acquisition          
agreements have now been signed.                                                
This follows further consideration by Harmony, the provisional liquidators of   
Pamodzi Gold Free State, The Industrial Development Corporation, as a major     
secured creditor, the National Union of Mineworkers and Solidarity of the       
proposed recapitalisation of the Pamodzi Gold group of companies. These parties 
have confirmed that they support Harmony`s acquisition and are of the view that 
it is the most suitable option available to stakeholders generally.             
Harmony CEO Graham Briggs said: "We are of the view that Harmony has offered a  
fair price and that, when implemented, Harmony`s acquisition of the assets of   
Pamodzi Gold Free State will provide a sustainable, long-term future for the    
relevant stakeholders in the Free State. We have acted in good faith throughout 
the negotiation process."                                                       
Ends.                                                                           
For more details contact:                                                       
Frank Abbott                                                                    
Interim Financial Director                                                      
on +27(0)82 800 4290                                                            
or                                                                              
Bob Atkinson                                                                    
Projects Director                                                               
on +27 (0)83 303 9815                                                           
or                                                                              
Esha Brijmohan                                                                  
Investor Relations Officer                                                      
on +27 (0)82 759 1775                                                           
Corporate Office:                                                               
Randfontein Office Park                                                         
P O Box 2                                                                       
Randfontein                                                                     
South Africa 1760                                                               
T +27 (11) 411 2000                                                             
www.harmony.co.za                                                               
Randfontein                                                                     
09 September 2009                                                               
Sponsor:                                                                        
J.P. Morgan Equities Limited                                                    
Date: 09/09/2009 08:00:12 Supplied by www.sharenet.co.za                     
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