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HAR - Harmony Gold Mining Company Limited - Harmony`s guidance for September

Release Date: 07/10/2010 16:15:02      Code(s): HAR
HAR - Harmony Gold Mining Company Limited - Harmony`s guidance for September    
2010                                                                            
Harmony Gold Mining Company Limited                                             
Registration number 1950/038232/06                                              
Incorporated in the Republic of South Africa                                    
ISIN: ZAE000015228                                                              
JSE share code: HAR                                                             
("Harmony" or "the company")                                                    
Harmony`s guidance for September 2010                                           
Johannesburg, 7 October 2010: Harmony Gold Mining Company Limited (Harmony)     
announces that its production and costs for the quarter ended September 2010 are
largely in line with the guidance provided to the market in August 2010 at the  
time of the release of its fourth quarter results.                              
Harmony advises that gold production for the September 2010 quarter is likely to
be in the order of 3% lower than the June 2010 quarter. This is as a result of: 
*    The planned closure of Harmony 2 shaft;                                    
*    The planned closure of Merriespruit 3 shaft;                               
*    The temporary cessation of operations at Joel North shaft to allow for the 
    completion of shaft bottom spillage infrastructure which resulted in 43     
production days lost;                                                       
*    The tragic accident at Phakisa at the end of June 2010, which resulted in  
    the closure of that shaft for 13 days.                                      
As advised in the previous quarter, electricity costs were around R140 million  
more quarter on quarter and labour increased by approximately R50 million.      
Costs at Hidden Valley have been incurred for a full quarter as opposed to two  
months in the previous quarter.                                                 
Retrenchment costs of around R60 million (R10 million at the Evander operations 
and R50 million at Virginia) have been incurred during the quarter.             
Chief Executive Officer Graham Briggs commented that "Our aim at Harmony is to  
focus on safe, profitable ounces. To do this we have taken bold decisions in    
shutting unprofitable operations, and focusing our attention on our longer-life,
lower-cost operations that will be profitable and sustainable for many years to 
come. We remain focused on increasing production to 2 million ounces of gold by 
FY13, with costs per tonne milled in the lowest quartile amongst South African  
producers."                                                                     
Harmony`s results for the quarter ended September 2010 will be released on 1    
November 2010.                                                                  
ends.                                                                           
7 October 2010                                                                  
Queries:                                                                        
South Africa                                                                    
Hannes Meyer                                                                    
Financial Director                                                              
+27 82 444 8435 (mobile)                                                        
Marian van der Walt                                                             
Executive: Corporate and Investor Relations                                     
+27 82 888 1242 (mobile)                                                        
Corporate Office:                                                               
Randfontein Office Park                                                         
P O Box 2                                                                       
Randfontein                                                                     
South Africa 1760                                                               
T +27 (11) 411 2000                                                             
www.harmony.co.za                                                               
Sponsor:                                                                        
J.P. Morgan Equities Limited                                                    
Date: 07/10/2010 16:15:02 Supplied by www.sharenet.co.za                     
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