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HAR - Harmony Gold Mining - Press release - Restructuring for quality ounces

Release Date: 16/04/2010 08:36:01      Code(s): HAR
HAR - Harmony Gold Mining - Press release - Restructuring for quality ounces    
Harmony Gold Mining Company Ltd                                                 
Incorporated in the Republic of South Africa                                    
Registration number: 1950/038232/06                                             
Share code: HAR                                                                 
ISIN: ZAE000015228                                                              
PRESS RELEASE                                                                   
Restructuring for quality ounces continues                                      
Closure of Virginia operations` Harmony 2, Merriespruit 1 and Merriespruit 3    
Harmony Gold Mining Company Limited announced that following careful review of  
the performance of its Harmony 2, Merriespruit 1 and Merriespruit 3 shafts (all 
part of the Virginia operations), these assets have no remaining payable        
reserves and their closure has begun.                                           
This action is in line with Harmony`s stated strategy to restructure for quality
ounces, thereby improving its asset mix.                                        
Employee representatives, through their trade unions, have been informed of the 
closures and management will embark on a formal consultation process with them, 
facilitated by a senior commissioner from the Commission for Conciliation,      
Mediation and Arbitration (CCMA) in terms of Section 189A of the Labour         
Relations Act, to consider alternatives to retrenchments. The number of         
employees affected by the closure is approximately 3 700.                       
Every effort will be made to mitigate the effects of closure.  Steps to be      
considered may include transfers to other operations in the group, portable     
skills training and early retirement.                                           
"While these operations have been in existence for almost 60 years and are very 
much a part of Harmony`s history, we have taken a thorough, informed decision   
that they have reached the end of their lives. We have indicated for some time  
that marginal, loss-making operations would have to close for the company`s     
greater good," said Harmony CEO Graham Briggs.                                  
16 April 2010.                                                                  
For more details contact:                                                       
Graham Briggs                                                                   
Chief Executive Officer                                                         
On +27(0)83 265 0274                                                            
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: 16/04/2010 08:36:01 Supplied by www.sharenet.co.za                     
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