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HAR - Harmony Gold Mining Company - Harmony, unions agree ground-breaking

Release Date: 18/05/2010 09:15:01      Code(s): HAR
HAR - Harmony Gold Mining Company - Harmony, unions agree ground-breaking       
profitability plan to save jobs                                                 
Harmony Gold Mining Company Ltd                                                 
Incorporated in the Republic of South Africa                                    
Registration number: 1950/038232/06                                             
JSE Share code:    HAR                                                          
NYSE Share code:   HMY                                                          
NASDAQ Share code: HMY                                                          
ISIN: ZAE000015228                                                              
PRESS RELEASE                                                                   
Johannesburg. Tuesday, 18 May 2010. Harmony Gold Mining Company Limited         
(Harmony) today announced a ground-breaking job preservation and profitability  
agreement with the National Union of Mineworkers (NUM), UASA and Solidarity in  
respect of restructuring at the company`s Virginia operations in the Free       
In terms of the agreement, certain sections of the Virginia operations`         
Merriespruit 1 shaft will continue to operate, provided:                        
these sections do not make a loss (on a total cost basis, including any         
capital expenditure) for two consecutive months; and                            
total costs remained under R250 000/kg.                                         
Last month, Harmony announced - after an extensive review - its intention to    
close three loss-making shafts at the Virginia operations - Merriespruit 1 and  
3, and Harmony 2. The company has since engaged with trade unions under the     
auspices of the Commission for Conciliation, Mediation and Arbitration (CCMA),  
in a bid to mitigate the effect of the closures on jobs.                        
Harmony CEO Graham Briggs said: "The innovative agreement announced today       
resulted from the process of engagement, and points to the excellent            
relationship between management and trade unions in the Free State."            
"All parties recognise that, to achieve the desired result - keeping one of     
the shafts operational and containing job losses to fewer than 1 000 - the      
agreed cost and profitability targets must be achieved through improved         
productivity. I believe there is a firm commitment to achieve success by        
everyone involved."                                                             
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                                                           
Graham Briggs                                                                   
Chief Executive Officer                                                         
On +27 (0)83 265 0274                                                           
Corporate Office:                                                               
Randfontein Office Park                                                         
PO Box 2                                                                        
South Africa 1760                                                               
T: +27 (0)11 411 2000                                                           
J.P. Morgan Equities Limited                                                    
Date: 18/05/2010 09:15:01 Supplied by www.sharenet.co.za                     
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