HAR - Harmony Gold Mining Company Limited - Harmony`s guidance for March 2011
Harmony Gold Mining Company Limited
Registration number 1950/038232/06
Incorporated in the Republic of South Africa
JSE share code: HAR
("Harmony" or "the company")
HARMONY`S GUIDANCE FOR MARCH 2011 QUARTER
Johannesburg. Wednesday, 13 April 2011. Harmony Gold Mining Company Limited
("Harmony") announces gold production for the March 2011 quarter is likely to be
2% lower than the previous quarter mainly due the impact of the Christmas break.
Cash operating costs remained steady and capital expenditure was contained
during the quarter.
In March 2011 the South African Revenue Services conceded that one of Harmony`s
subsidiaries is entitled to claim certain capital allowances in terms of the
Income Tax Act 58 of 1962. This allowance resulted in the reduction of the net
deferred tax liability and a credit of approximately R330 million on the
deferred tax line in the income statement, which will have a positive effect on
Harmony`s headline earnings per share.
Chief Executive Officer, Graham Briggs, commented that: "We remain focused on
delivering on our long term strategy of generating earnings to fund growth and
dividends. We have invested capital to build and commission some of the best
South African gold mining assets, thus significantly enhancing the production
profile. We will continue with our various initiatives to ensure we are
producing profitable ounces in the safest possible environment."
Harmony`s results for the quarter ended March 2011 will be released on Thursday,
5 May 2011. Details of the results presentation are available on the company`s
Issued by Harmony Gold Mining Company Limited
13 April 2011
For more details contact:
Investor Relations Officer
+27 11 411 2314
+27 82 759 1775 (mobile)
Randfontein Office Park
P O Box 2
South Africa 1760
T +27 (11) 411 2000
J.P. Morgan Equities Limited
Date: 13/04/2011 12:48:01 Supplied by www.sharenet.co.za
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