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
SHAFT BOTTOM REPAIR IN PROGRESS AT HARMONY`S JOEL MINE
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:
Chief Executive Officer
On +27 83 265 0274
Investor Relations Officer
On +27 82 759 1775
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
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