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HAR - Harmony Gold Mining Company Ltd - Press Release: Harmony`s acquisition of

Release Date: 22/02/2010 09:15:02      Code(s): HAR
HAR - Harmony Gold Mining Company Ltd - Press Release: Harmony`s acquisition of 
Pamodzi Gold`s Free State assets completed                                      
Harmony Gold Mining Company Ltd                                                 
Incorporated in the Republic of South Africa                                    
Registration number: 1950/038232/06                                             
Share code: HAR                                                                 
ISIN: ZAE000015228                                                              
PRESS RELEASE                                                                   
Johannesburg. Monday, 22 February 2010. Harmony Gold Mining Company Limited     
(Harmony) is pleased to announce that all conditions precedent relating to its  
acquisition of the Pamodzi Gold Free State (Proprietary) Limited`s assets       
(Pamodzi Gold`s Free State assets), have been fulfilled and that the deal has   
now become unconditional.                                                       
During the past few months, Harmony conducted pre-production work at the shafts,
to make these operations safe and return them to production. Production at Steyn
2 and Loraine 3 shafts will now commence and more work is being done to         
underground workings at Steyn 1 shaft. Production at these 3 shafts for the     
first 12 months is estimated at 100 000 oz at an average recovered grade of     
5.5g/t and at a cash cost in the order of R218 000/kg. Production will then     
increase to 150 000 oz for the second 12 months at a cash cost of about R160    
The plant clean-up began in December 2009, and 800kg of gold is expected to be  
recovered over the next 18 months.  Milling of rock from the Freddies 9 waste   
dump at a throughput of 35 000tpm and a recovered grade of 0.55g/t has          
commenced. This rock is processed at Harmony`s Target plant. Harmony has re-    
employed 1000 employees and we expect the total number of employees to increase 
to approximately 2,500 over the next two years.                                 
Harmony CEO Graham Briggs said: "We are pleased that the deal has been          
successfully concluded. Our teams are now working hard to ensure that these     
shafts remain safe and are productive. Our planning indicates promising results 
from these operations. "                                                        
For more details contact:                                                       
Esha Brijmohan                                                                  
Investor Relations Officer                                                      
On +27 (0)82 759 1775                                                           
Marian van der Walt                                                             
Executive: Corporate and Investor Relations                                     
On +27 (0)82 888 1242                                                           
Corporate Office:                                                               
Randfontein Office Park                                                         
PO Box 2                                                                        
South Africa 1760                                                               
T: +27 (0)11 411 2000                                                           
J.P. Morgan Equities Limited                                                    
Date: 22/02/2010 09:15:02 Supplied by www.sharenet.co.za                     
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