Go Back Email this Link to a friend

HAR - Harmony Gold Mining Company Ltd - Shaft Bottom Repair In Progress At

Release Date: 08/07/2010 14:50:01      Code(s): HAR
HAR - Harmony Gold Mining Company Ltd - Shaft Bottom Repair In Progress At      
Harmony`s Joel Mine                                                             
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. Thursday 8 July 2010. Harmony Gold Mining Company Limited         
(Harmony) announces that it has commenced extensive changes and repairs to the  
shaft bottom at its Joel North Shaft in the Free State.                         
Harmony`s CEO, Graham Briggs says, "The production focus at Joel has over time  
been shifting to the deeper portions of the mine, at approximately 1,400 meters 
below surface. The North Shaft was never fully equipped for production and we   
have therefore made extensive changes to the bottom of the shaft arrangements." 
Modifications to the shaft have among others, included:                         
-    Changing of the winder from sinking to production mode;                
    -    Attaching bigger skips;                                                
    -    Ensuring that emergency egress is available;                           
    -    And raise boring the lift shaft from 121 to 129 level.                 
Operations at the shaft however, had to be halted at the end of June 2010 to    
complete the bottom of the shaft spillage arrangements. A mutual decision was   
taken by the Department of Mineral Resources and management to stop operations  
at the shaft until the shaft bottom is cleared from the spillage and more       
permanent arrangements are put into place.                                      
Briggs added, "We anticipate that the shaft will be operating again during      
August 2010, once repairs to the shaft bottom have been completed. The employees
at Joel have been sent on leave and will return to work as of 10 August 2010. In
the interim, the Joel plant will be processing waste to maximize gold           
production. Joel`s gold production for the June 2010 quarter will be marginally 
affected by this decision but we anticipate that gold production for the        
September 2010 quarter at Joel will possibly be halved. However, we have teams  
working around the clock to resolve this situation as soon as possible.         
For more details contact:                                                       
Graham Briggs                                                                   
Chief Executive Officer                                                         
On +27 83 265 0274                                                              
Esha Brijmohan                                                                  
Investor Relations Officer                                                      
On +27 82 759 1775                                                              
Corporate office:                                                               
Randfontein Office Park                                                         
PO Box 2                                                                        
South Africa 1760                                                               
T: +27 11 411 2000                                                              
J.P. Morgan Equities Limited                                                    
Date: 08/07/2010 14:50:01 Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                             .                  
The SENS service is an information dissemination service administered by the    
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or            
implicitly, represent, warrant or in any way guarantee the truth, accuracy or   
completeness of the information published on SENS. The JSE, their officers,     
employees and agents accept no liability for (or in respect of) any direct,     
indirect, incidental or consequential loss or damage of any kind or nature,     
howsoever arising, from the use of SENS or the use of, or reliance on,          
information disseminated through SENS.                                          

Email this JSE Sens Item to a Friend.

Send e-mail to
© 2021 SHARENET (PTY) Ltd, Cape Town, South Africa
Home     Terms & conditions    Privacy Policy
    Security Notice    Contact Details
Market Statistics are calculated by Sharenet and are therefore not the official JSE Market Statistics. The calculation/derivation may include underlying JSE data.