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HAR - Harmony Gold Mining Company Limited - Results for the period ended

Release Date: 31/10/2011 07:05:04      Code(s): HAR
HAR - Harmony Gold Mining Company Limited - Results for the period ended        
30 September 2011                                                               
Harmony Gold Mining Company Limited                                             
("Harmony" or "Company")                                                        
Incorporated in the Republic of South Africa                                    
Registration number 1950/038232/06                                              
JSE Share code: HAR                                                             
NYSE Share code: HMY                                                            
ISIN: ZAE000015228                                                              
RESULTS FOR THE PERIOD ENDED 30 SEPTEMBER 2011                                  
KEY FEATURES                                                                    
- Record operating profits                                                      
 * 45% increase in operating profit to R1.3 billion                             
- Highest ever revenue                                                          
- Headline earnings per share (HEPS) increased by 217% to 95 SA cents           
- Production in line with forecast despite industrial action                    
 * turnaround at Joel; shaft-equipping completed                                
 * continued build-up at Phakisa, Kusasalethu and Doornkop                      
- Bambanani restructured - crews transferred to build-up operations             
- More exciting exploration results from PNG                                    
- Wafi-Golpu pre-feasibility study on track                                     
Financial review for the period ended 30 September 2011                         
                                             Quarter     Quarter                
September        June       Q-on-Q   
                                                2011        2011     Variance   
                                                                            %   
Gold produced (1)         - kg                 10 207      10 152          0.5  
- oz                328 162     326 394          0.5   
Cash operating costs      - R/kg              265 288     242 851        (9.2)  
                         - US$/oz              1 156       1 115        (3.7)   
Gold sold                 - kg                  9 948      10 412        (4.5)  
- oz                319 836     334 752        (4.5)   
Gold price received       - R/kg              396 405     329 536         20.3  
                         - US$/oz              1 727       1 513         14.1   
Operating profit          - R million           1 306         901         45.0  
- US$ million           183         133         37.6   
Basic earnings/(loss)per                                                        
share                     - SAc/s                 111        (10)       >100.0  
                         - USc/s                  16         (1)       >100.0   
Headline profit           - Rm                    411         130       >100.0  
                         - US$m                   58          19       >100.0   
Headline earnings per                                                           
share                     - SAc/s                  95          30       >100.0  
- USc/s                  13           4       >100.0   
Exchange rate             - R/US$                7.14        6.78          5.3  
(1) Production statistics for Steyn 2 have been included. Steyn 2 is currently  
in a build-up phase and revenue and costs are capitalised for this period.      
Quarter ending September 2011: 36 kg (June 2011 - 27 kg).                       
Shareholder information                                                         
Issued ordinary                                                                 
share capital at                                                   430 272 715  
30 September 2011                                                               
Issued ordinary                                                                 
share capital at                                                   430 084 628  
30 June 2011                                                                    
Market capitalisation                                                           
At 30 September 2011                                          ZARm      41 027  
At 30 September 2011                                          US$m       5 103  
Harmony ordinary share                                                          
and ADR prices                                                                  
12 month high                                                                   
(1 October 2010 -                                                      R106.00  
30 September 2011)                                                              
for ordinary shares                                                             
12 month low                                                                    
(1 October 2010 -                                                       R74.77  
30 September 2011)                                                              
for ordinary shares                                                             
12 month high                                                                   
(1 October 2010 -                                                     US$15.57  
30 September 2011)                                                              
for ADRs                                                                        
12 month low                                                                    
(1 October 2010 -                                                     US$10.56  
30 September 2011)                                                              
for ADRs                                                                        
Free float                                                                      
Ordinary shares                                                           100%  
ADR ratio                                                                  1:1  
JSE Limited                                                                HAR  
Range for quarter                                                               
(1 July 2011 -                                                R85.80 - R106.00  
30 September 2011                                                               
closing prices)                                                                 
Average daily volume                                                            
for the quarter                                               1 744 855 shares  
(1 July 2011 -                                                                  
30 September 2011)                                                              
New York Stock Exchange,                                                        
Inc including other                                                        HMY  
US trading                                                                      
Range for quarter                                                               
(1 July 2011 -                                                      US$11.50 -  
30 September 2011                                                     US$14.87  
closing prices)                                                                 
Average daily volume                                                            
for the quarter                                               2 915 266 shares  
(1 July 2011 -                                                                  
30 September 2011)                                                              
Forward-looking statements                                                      
This quarterly report contains forward-looking statements within the meaning of 
the United States Private Securities Litigation Reform Act of 1995 with respect 
to Harmony`s financial condition, results of operations, business strategies,   
operating efficiencies, competitive positions, growth opportunities for existing
services, plans and objectives of management, markets for stock and other       
matters. Statements in this quarter that are not historical facts are "forward- 
looking statements" for the purpose of the safe harbour provided by Section 21E 
of the U.S. Securities Exchange Act of 1934, as amended, and Section 27A of the 
U.S. Securities Act of 1933, as amended. Forward-looking statements are         
statements that are not historical facts.                                       
These statements include financial projections and estimates and their          
underlying assumptions, statements regarding plans, objectives and expectations 
with respect to future operations, products and services, and statements        
regarding future performance. Forward-looking statements are generally          
identified by the words "expect", "anticipates", "believes", "intends",         
"estimates" and similar expressions. These statements are only predictions. All 
forward-looking statements involve a number of risks, uncertainties and other   
factors and we cannot assure you that such statements will prove to be correct. 
Risks, uncertainties and other factors could cause actual events or results to  
differ from those expressed or implied by the forward-looking statements.       
These forward-looking statements, including, among others, those relating to the
future business prospects, revenues and income of Harmony, wherever they may    
occur in this quarterly report and the exhibits to this quarterly report, are   
necessarily estimates reflecting the best judgment of the senior management of  
Harmony and involve a number of risks and uncertainties that could cause actual 
results to differ materially from those suggested by the forward-looking        
statements. As a consequence, these forward-looking statements should be        
considered in light of various important factors, including those set forth in  
this quarterly report.                                                          
Important factors that could cause actual results to differ materially from     
estimates or projections contained in the forward-looking statements include,   
without limitation: overall economic and business conditions in the countries in
which we operate; the ability to achieve anticipated efficiencies and other cost
savings in connection with past and future acquisitions; increases or decreases 
in the market price of gold; the occurrence of hazards associated with          
underground and surface gold mining; the occurrence of labour disruptions;      
availability, terms and deployment of capital; changes in government regulation,
particularly mining rights and environmental regulations; fluctuations in       
exchange rates; currency devaluations and other macroeconomic monetary policies;
and socio-economic instability in the countries in which we operate.            
Competent person`s declaration                                                  
Harmony reports in terms of the South African Code for the Reporting of         
Exploration results, Mineral Resources and Ore Reserves (SAMREC).               
Harmony employs an ore reserve manager at each of its operations who takes      
responsibility for reporting mineral resources and mineral reserves at his      
operation.                                                                      
The mineral resources and mineral reserves in this report are based on          
information compiled by the following competent persons:                        
Reserves and resources South Africa:                                            
Jaco Boshoff, Pri Sci Nat, who has 16 years` relevant experience and is         
registered with the South African Council for Natural Scientific Professions    
(SACNASP).                                                                      
Reserves and resources PNG:                                                     
Stuart Hayward for the Wafi-Golpu mineral resources, Gregory Job for the Golpu  
mineral reserve, James Francis for the Hidden Valley mineral resources and Anton
Kruger for the Hidden Valley mineral reserve. Messers Job, Francis and Kruger   
are corporate members of the Australian Institute of Mining and Metallurgy and  
Mr Hayward is a member of the Australian Institute of Geoscientists. All have   
relevant experience in the type and style of mineralisation for which they are  
reporting, and are competent persons as defined by the code.                    
These competent persons consent to the inclusion in the report of the matters   
based on the information in the form and context in which it appears. Mr Boshoff
and Mr Job are full-time employees of Harmony Gold Mining Company Limited and Mr
Hayward is a full-time employee of Wafi-Golpu Services Limited. Mr Francis and  
Mr Kruger are full-time employees of Newcrest Mining Limited (Newcrest).        
Newcrest is Harmony`s joint venture partner in the Morobe Mining Joint Venture  
on the Hidden Valley mine and Wafi-Golpu project.                               
Chief Executive`s Review                                                        
Introduction                                                                    
The increased R/kg gold price received during the September 2011 quarter        
continued to strengthen Harmony`s profit levels. A record operating profit was  
generated this quarter with production remaining steady despite industrial      
action. This is an indication of our improved operational efficiency and gives  
us confidence for the future.                                                   
As our growth projects come on stream, and our existing mines operate to        
tailored business plans, we remain confident of reaching our long-term targets. 
Safety                                                                          
It is with deep regret that I report that two of our colleagues died in work-   
related incidents during the quarter. Those who died were: Matoane Thabana, a   
locomotive guard at Unisel and Andries Bhambatha, water jet operator at         
Tshepong. I would like to extend my deepest condolences to their families,      
friends and colleagues.                                                         
Operational and financial overview                                              
The gold price received increased by 20.3% to R396 405/kg in the September 2011 
quarter from R329 536/kg received in the previous quarter. The increase in the  
gold price resulted in revenues increasing by 14.8% or R506.9 million.          
Operating profit for the September 2011 quarter increased by 45.0% (R405.7      
million) to R1 306.4 million, compared to the R900.7 million recorded in        
the June 2011 quarter.                                                          
Production for the September 2011 quarter was only slightly higher than the     
previous quarter. Our targeted increase in production was negatively impacted by
the wage strike in August 2011, which resulted in approximately 500kg being     
lost. As expected, higher electricity (due to winter tariffs) and labour costs  
resulted in the R/kg costs being 9.2% higher at R265 288/kg compared to R242    
851/kg in the June 2011 quarter.                                                
We continue to spend in a responsible manner, with total capital expenditure for
the September 2011 quarter decreasing by 16.4% (R137.5 million) to R700.1       
million, compared to the previous quarter (R837.6 million).                     
Exploration                                                                     
Wafi Transfer Exploration (Morobe Mining JV Exploration                         
(Harmony 50%)                                                                   
Prospect development work continued at Zimake, and Bavaga on the Wafi Transfer  
structure. Results received from Zimake have outlined a significant new high    
tenor Cu-Au anomaly over a 1.5 km2 area. The anomaly is associated with a bulls-
eye magnetic target, contains surface soil results up to 0.5 g/t Au and 0.2% Cu,
and is prospective for porphyry copper-gold mineralisation similar to Golpu.    
Papua New Guinea (PNG) exploration (Harmony 100%)                               
Drilling at the Mt Hagen project has intersected anomalous intervals of porphyry
copper style mineralisation and alteration. The drill core contains disseminated
chalcopyrite and molybdenum associated with biotite-magnetite (potassic) altered
metasediments and is highly encouraging. Assays received to date resulted in    
285m @ 0.1% Cu, 83 ppm Mo from 72m (PNDD001).                                   
Wafi-Golpu                                                                      
The resource drilling programme continues to target orebody extension to the    
north and infill of deeper sections (indicatively in the Lift 2 and Lift 3 cave 
zones). Geotechnical investigation drilling is continuing along the             
access/conveyor decline route. Five drill rigs are currently at work at Wafi-   
Golpu with two additional drill rigs that have arrived on site that will        
commence drilling in the forthcoming quarter. Generally the drilling results are
confirming the resource shell as outlined in the resource declaration (refer to 
the Integrated Annual Report at www.harmony.co.za).                             
The results of the significant borehole were:                                   
WR406 861m @ 1.51g/t Au, 1.48% Cu including 199m @ 2.87g/t Au and 2.57% Cu from 
1 286m (Some assays are still pending).                                         
Gold market                                                                     
We remain bullish on the gold price, despite the recent fears that there is a   
gold bubble. We believe that the gold price will continue to strengthen as the  
fundamentals that drove the gold price up are still in place. Gold remains an   
attractive investment and a currency in these times of economic uncertainty. A  
number of record high gold prices were seen throughout the first quarter, with a
record level of around $1 900/oz at the beginning of September 2011. Despite the
sharp decline in the gold price towards the end of September 2011, the          
Rand gold price performed well due to the benefit of the weakening of the R/$   
exchange rate around the same time. Harmony`s South African assets              
represent 92% of total production. The combination of a higher gold price and a 
weaker Rand, as well as steady production worked to our advantage               
during the quarter.                                                             
Conclusion                                                                      
Harmony has a solid portfolio of producing assets and a successful international
exploration programme. The rapid progress we have made in PNG, in particular, is
proof of the benefits mining can deliver in an enabling environment when all    
stakeholders work together. The Wafi-Golpu project has the potential to change  
this company materially.                                                        
In addition, the exploration results in PNG have been pleasing and we look      
forward to more exciting news from the region.                                  
In the next few months we will be focussing on improving our grades, as well as 
improving costs per tonnes milled - all in line with our strategy, as well as   
progressing the pre-feasibility study at Wafi-Golpu.                            
Graham Briggs                                                                   
Chief Executive Officer                                                         
Note:                                                                           
Harmony updated the market on its strategy, operations and exploration on       
24 August 2011. You are encouraged to view the presentations and information    
shared at www.harmony.co.za to allow you to make an informed decision on your   
investment or possible investment in Harmony.                                   
Results for the period                                                          
ended 30 September 2011                                                         
Safety and health                                                               
Safety                                                                          
Safety remains Harmony`s number one priority. To accelerate the execution of    
Harmony`s safety and health strategy and to further improve its safety          
performance, Harmony appointed Alwyn Pretorius as the Executive for safety and  
health in August 2011, a newly created executive position. Alwyn has more than  
18 years` experience in the mining industry and has a good understanding of     
underground conditions and the working environment our underground workers are  
exposed to.                                                                     
Our safety strategy includes behavioural aspects, competency training and       
development, as well as research and new technologies. We believe safety in the 
workplace can be addressed only through a cooperative approach that ensures the 
right infrastructure is in place - from systems and planning, to communication  
and training. We also believe management and employees must accept joint        
responsibility for their actions. It is therefore imperative that the working   
environment empowers people - management, supervisors, workers and union        
representatives - to stop work and withdraw from the mining area when they feel 
it is unsafe, or prevent others from acting in an unsafe way.                   
Equally, safety is about attitudes and mindsets. We have renewed our focus on   
implementing, communicating and reinforcing safety in the workplace, and created
a centralised safety function to coordinate initiatives between regions and     
mines.                                                                          
Given the high-risk nature of many of our deep-level operations, the safety,    
health and well-being of our people are our foremost priority: Safety is a key  
performance indicator for management and a key component of performance reward  
for our people.                                                                 
Tragically, two fatalities occurred at the South African operations during the  
September 2011 quarter, which indicates that even more needs to be done to      
ensure a safe working environment day after day.                                
We have made progress in terms of safety, with Harmony`s Lost Time Injury       
Frequency Rate (LTIFR) (per million hours worked) remaining a single digit, for 
the twelfth consecutive quarter. In South Africa, our LTIFR improved by 6%      
quarter on quarter, from 9.64 to 9.06. The Reportable Injury Frequency Rate     
(RIFR) (per million hours worked) improved by 18% quarter on quarter (from 5.39 
to 4.44). The Fatal Injury Frequency Rate (FIFR) improved by 31% (0.17 to 0.09) 
quarter on quarter.                                                             
Safety achievements for the quarter included:                                   
South African (SA) underground                                                  
operations:                                1 000 000 fatality free shifts       
Harmony SA surface operations:             3 000 000 fatality free shifts       
Kusasalethu:                                 500 000 fatality free shifts       
Evander total operations:                  1 000 000 fatality free shifts       
Kalgold plant:                             1 000 000 fatality free shifts       
Target 1:                                    750 000 fatality free shifts       
Phakisa:                                     500 000 fatality free shifts       
Bambanani:                                   500 000 fatality free shifts       
The following operations completed the quarter without an injury:               
- Target plant                                                                  
- Harmony One plant                                                             
- Free State commercial services and transport                                  
- Evander workshops.                                                            
Health                                                                          
The health and well-being of our workforce is essential to us, as they are the  
cornerstone of our ongoing business success. We continually invest in the       
wellness of our employees, through various health programmes and initiatives to 
ensure the well-being of each employee. Our focus is on preventative rather than
curative health care and we encourage employees to live a healthy lifestyle,    
through health education and raising awareness. During the quarter our pro-     
active approach to health and wellness of our employees continued. Our objective
remains to improve health management programmes and effectively utilise clinical
information. This includes the review of policies, procedures and processes as  
well as training. These efforts have resulted in improved health and a better   
quality of life for our employees.                                              
See our Sustainable Development Report FY11 for more details on our website     
www.harmony.co.za.                                                              
Financial overview                                                              
Operating profit increased by 45% to R1 306 million in the September 2011       
quarter, with an increase in revenue being the main contributor.                
Revenue                                                                         
The increase in revenue from R3 422 million to R3 929 million is due to an 14.3%
higher US dollar gold price received and a weaker Rand, with the average R/kg   
gold price received increasing over 20% to R396 405/kg.                         
Cost of sales                                                                   
Production cost is slightly higher at R2 623 million, mainly due to increased   
winter electricity rates that resulted in a R133 million increase in electricity
cost for the quarter.                                                           
Employment termination and restructuring costs for the September quarter        
amounted to R34 million. The cost is as a result of the restructuring process at
Bambanani shaft.                                                                
Reversal of impairment of investment in associate                               
The reversal of impairment of R48 million for the September 2011 quarter relates
to foreign exchange movements relating to the agreed sale of 40% of Rand Uranium
(Pty) Ltd to Gold One International Limited.                                    
Net loss on financial instruments                                               
The loss for the September 2011 quarter is due to the changes in fair value of  
the Nedbank Equity Linked Deposits held by the Environmental Trusts.            
Earnings per share                                                              
Basic earnings per share increased from a loss of 10 SA cents to earnings of 111
SA cents per share. Headline earnings per share increased from 30 SA cents per  
share to 95 SA cents per share, an increase of 217%.                            
Property, plant and equipment                                                   
The increase in property, plant and equipment is largely due to currency        
movements of R836 million as a result of the strengthening of the Kina against  
the South African Rand. The corresponding entry was recorded in other reserves  
through other comprehensive income.                                             
Borrowings                                                                      
Borrowings increased as a result of a net draw down of R100 million on the      
Nedbank facility and a US$50 million draw down on the US dollar Revolving Credit
Facility.                                                                       
CONDENSED CONSOLIDATED INCOME STATEMENTS (Rand)                                 
                                                           Three months ended   
                                          30 September                30 June   
2011                   2011   
Figures in million                    Note  (Unaudited)            (Unaudited)  
Continuing operations                                                           
Revenue                                           3 929                  3 422  
Cost of sales                            2      (3 192)                (3 491)  
Production costs                               (2 623)                (2 521)   
Amortisation and depreciation                    (475)                  (477)   
Impairment of assets                                 -                  (264)   
Employment termination and                                                      
restructuring costs                               (34)                      -   
Other items                                       (60)                  (229)   
Gross profit/(loss)                                 737                   (69)  
Corporate, administration and                                                   
other expenditure                                  (84)                   (71)  
Social investment expenditure                      (15)                   (18)  
Exploration expenditure                  3         (97)                  (102)  
Profit on sale of property, plant                                               
and equipment                                        26                      5  
Other income/(expenses) - net                        18                     33  
Operating profit/(loss)                             585                  (222)  
Loss from associates                                  -                      -  
Reversal of                                                                     
impairment/(impairment) of                                                      
investment in associate                  5           48                     18  
Net (loss)/gain on financial                                                    
instruments                                        (26)                     22  
Gain on farm-in option                                -                      -  
Investment income                                    16                     24  
Finance cost                                       (73)                   (89)  
Profit/(loss) before taxation                       550                  (247)  
Taxation                                           (72)                    205  
Normal taxation                                   (40)                     10   
Deferred taxation                                 (32)                    195   
Net profit/(loss) from continuing                                               
operations                                          478                   (42)  
Discontinued operations                                                         
(Loss)/profit from discontinued                                                 
operations                                            -                      -  
Net profit/(loss) for the period                    478                   (42)  
Attributable to:                                                                
Owners of the parent                                478                   (42)  
Non-controlling interest                              -                      -  
Earnings/(loss) per ordinary                                                    
share (cents)                            6                                      
Earnings/(loss) from continuing                                                 
operations                                          111                   (10)  
(Loss)/earnings from discontinued                                               
operations                                            -                      -  
Total earnings/(loss) per                                                       
ordinary share (cents)                              111                   (10)  
Diluted earnings/(loss) per                                                     
ordinary share (cents)                   6                                      
Earnings/(loss) from continuing                                                 
operations                                          111                   (10)  
(Loss)/earnings from discontinued                                               
operations                                            -                      -  
Total diluted earnings/(loss) per                                               
ordinary share (cents)                              111                   (10)  
                                                                   Year ended   
                                                  30 September        30 June   
2010           2011   
Figures in million                                  (Unaudited)      (Audited)  
Continuing operations                                                           
Revenue                                                   3 083         12 445  
Cost of sales                                           (2 995)       (11 615)  
Production costs                                       (2 431)        (9 170)   
Amortisation and depreciation                            (426)        (1 776)   
Impairment of assets                                         -          (264)   
Employment termination and restructuring costs            (78)          (158)   
Other items                                               (60)          (247)   
Gross profit/(loss)                                          88            830  
Corporate, administration and other expenditure            (94)          (354)  
Social investment expenditure                              (16)           (84)  
Exploration expenditure                                    (99)          (353)  
Profit on sale of property, plant and equipment              16             29  
Other income/(expenses) - net                              (54)           (24)  
Operating profit/(loss)                                   (159)             44  
Loss from associates                                        (8)           (51)  
Reversal of impairment/(impairment) of investment                               
in associate                                                  -          (142)  
Net (loss)/gain on financial instruments                     38            141  
Gain on farm-in option                                      273            273  
Investment income                                            14            140  
Finance cost                                               (59)          (288)  
Profit/(loss) before taxation                                99            117  
Taxation                                                      6            480  
Normal taxation                                            (9)           (12)   
Deferred taxation                                           15            492   
Net profit/(loss) from continuing operations                105            597  
Discontinued operations                                                         
(Loss)/profit from discontinued operations                  (3)             20  
Net profit/(loss) for the period                            102            617  
Attributable to:                                                                
Owners of the parent                                        102            617  
Non-controlling interest                                      -              -  
Earnings/(loss) per ordinary share (cents)                                      
Earnings/(loss) from continuing operations                   24            139  
(Loss)/earnings from discontinued operations                (1)              5  
Total earnings/(loss) per ordinary share (cents)             23            144  
Diluted earnings/(loss) per ordinary share (cents)                              
Earnings/(loss) from continuing operations                   24            139  
(Loss)/earnings from discontinued operations                (1)              5  
Total diluted earnings/(loss) per ordinary share (cents)     23            144  
The accompanying notes are an integral part of these condensed consolidated     
financial statements.                                                           
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Rand)                
                                                           Three months ended   
                                          30 September             30 June 30   
2011                   2011   
Figures in million                          (Unaudited)            (Unaudited)  
Net profit/(loss) for the period                    478                   (42)  
Other comprehensive income for the period,                                      
net of income tax                                   955                    418  
Foreign exchange translation                        924                    473  
Fair value movement of available-for-sale                                       
investments                                          31                   (55)  
Total comprehensive income for the period         1 433                    376  
Attributable to:                                                                
Owners of the parent                              1 433                    376  
Non-controlling interest                              -                      -  
Year ended   
                                             September                30 June   
                                                  2010                   2011   
Figures in million                          (Unaudited)              (Audited)  
Net profit/(loss) for the period                    102                    617  
Other comprehensive income for the period,                                      
net of income tax                                   106                    368  
Foreign exchange translation                        106                    470  
Fair value movement of available-for-sale                                       
investments                                           -                  (102)  
Total comprehensive income for the period           208                    985  
Attributable to:                                                                
Owners of the parent                                208                    985  
Non-controlling interest                              -                      -  
The accompanying notes are an integral part of these condensed consolidated     
financial statements.                                                           
CONDENSED CONSOLIDATED BALANCE SHEETS (Rand)                                    
                                            At            At               At   
                                  30 September       30 June     30 September   
                                          2011          2011             2010   
Figures in million        Note      (Unaudited)     (Audited)      (Unaudited)  
ASSETS                                                                          
Non-current assets                                                              
Property, plant and                                                             
equipment                    4           32 278        31 221           29 873  
Intangible assets                         2 171         2 170            2 199  
Restricted cash                              31            31              116  
Restricted investments                    1 860         1 883            1 787  
Investments in associates                     -             -              377  
Deferred tax assets                       1 287         1 149              734  
Investments in financial assets             215           185              296  
Inventories                                 168           172              237  
Trade and other receivables                  24            23               67  
Total non-current assets                 38 034        36 834           35 686  
Current assets                                                                  
Inventories                               1 006           837              902  
Trade and other receivables                 876         1 073              649  
Income and mining taxes                     100           139               73  
Cash and cash equivalents                 1 325           693              772  
                                         3 307         2 742            2 396   
Assets of disposal groups                                                       
classified as                                                                   
held-for-sale                5              314           268                -  
Total current assets                      3 621         3 010            2 396  
Total assets                             41 655        39 844           38 082  
EQUITY AND LIABILITIES                                                          
Share capital and reserves                                                      
Share capital                            28 314        28 305           28 269  
Other reserves                            1 741           762              395  
Retained earnings                         1 313         1 093              578  
Total equity                             31 368        30 160           29 242  
Non-current liabilities                                                         
Deferred tax liabilities                  4 300         4 216            4 306  
Provision for environmental                                                     
rehabilitation                            2 046         1 971            1 723  
Retirement benefit                                                              
obligation and other                                                            
provisions                                  174           174              169  
Borrowings                   7            1 684         1 229              970  
Total non-current                                                               
liabilities                               8 204         7 590            7 168  
Current liabilities                                                             
Borrowings                   7              331           330              207  
Income and mining taxes                       3             2               13  
Trade and other payables                  1 733         1 746            1 452  
                                         2 067         2 078            1 672   
Liabilities of disposal                                                         
groups classified as held-for-sale           16            16                -  
Total current liabilities                 2 083         2 094            1 672  
Total equity and                                                                
liabilities                              41 655        39 844           38 082  
The accompanying notes are an integral part of these condensed consolidated     
financial statements.                                                           
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Rand) (Unaudited)       
for the three months ended 30 September 2011                                    
                                                           Share        Other   
Figures in million                               Note     capital     reserves  
Balance - 30 June 2011                                     28 305          762  
Issue of shares                                                 9            -  
Share-based payments                                            -           24  
Net profit for the period                                       -            -  
Other comprehensive income for the period                       -          955  
Dividends paid                                      9           -            -  
Balance - 30 September 2011                                28 314        1 741  
Balance - 30 June 2010                                     28 261          258  
Issue of shares                                                 8            -  
Share-based payments                                            -           31  
Net profit for the period                                       -            -  
Other comprehensive income for the period                       -          106  
Dividends paid                                                  -            -  
Balance - 30 September 2010                                28 269          395  
                                                          Retained              
Figures in million                                         earnings      Total  
Balance - 30 June 2011                                        1 093     30 160  
Issue of shares                                                   -          9  
Share-based payments                                              -         24  
Net profit for the period                                       478        478  
Other comprehensive income for the period                         -        955  
Dividends paid                                                (258)      (258)  
Balance - 30 September 2011                                   1 313     31 368  
Balance - 30 June 2010                                          690     29 209  
Issue of shares                                                   -          8  
Share-based payments                                              -         31  
Net profit for the period                                       102        102  
Other comprehensive income for the period                         -        106  
Dividends paid                                                (214)      (214)  
Balance - 30 September 2010                                     578     29 242  
The accompanying notes are an integral part of these condensed consolidated     
financial statements.                                                           
CONDENSED CONSOLIDATED CASH FLOW STATEMENTS (Rand)                              
                                                           Three months ended   
                                          30 September             30 June 30   
2011                   2011   
Figures in million                          (Unaudited)            (Unaudited)  
Cash flow from operating activities                                             
Cash generated by operations                      1 092                  1 052  
Interest and dividends received                      16                     24  
Interest paid                                      (41)                   (35)  
Income and mining taxes paid                          -                   (19)  
Cash generated by operating activities            1 067                  1 022  
Cash flow from investing activities                                             
(Increase)/decrease in restricted cash                -                    (4)  
Proceeds on disposal of investment in subsidiary      -                      -  
Proceeds on disposal of available-for-sale                                      
financial assets                                      -                      -  
Prepayment for Evander 6 and Twistdraai transaction   -                    100  
Other investing activities                            -                   (10)  
Net additions to property, plant and equipment    (668)                  (829)  
Cash utilised by investing activities             (668)                  (743)  
Cash flow from financing activities                                             
Borrowings raised                                   799                    150  
Borrowings repaid                                 (352)                  (415)  
Ordinary shares issued - net of expenses              9                     15  
Dividends paid                                    (258)                      -  
Cash generated/(utilised) by financing                                          
activities                                          198                  (250)  
Foreign currency translation adjustments             35                      8  
Net increase/(decrease) in cash and cash                                        
equivalents                                         632                     37  
Cash and cash equivalents - beginning of period     693                    656  
Cash and cash equivalents - end of period         1 325                    693  
                                                                   Year ended   
                                             September                30 June   
                                                  2010                   2011   
Figures in million                          (Unaudited)              (Audited)  
Cash flow from operating activities                                             
Cash generated by operations                        703                  2 418  
Interest and dividends received                      14                    140  
Interest paid                                      (30)                  (134)  
Income and mining taxes paid                        (4)                   (45)  
Cash generated by operating activities              683                  2 379  
Cash flow from investing activities                                             
(Increase)/decrease in restricted cash               30                    116  
Proceeds on disposal of investment in                                           
subsidiary                                          229                    229  
Proceeds on disposal of available-for-sale                                      
financial assets                                      -                     16  
Prepayment for Evander 6 and Twistdraai transaction   -                    100  
Other investing activities                           10                    (5)  
Net additions to property, plant and                                            
equipment                                         (748)                (3 110)  
Cash utilised by investing activities             (479)                (2 654)  
Cash flow from financing activities                                             
Borrowings raised                                     -                    925  
Borrowings repaid                                   (7)                  (546)  
Ordinary shares issued - net of expenses              8                     44  
Dividends paid                                    (214)                  (214)  
Cash generated/(utilised) by financing activities (213)                    209  
Foreign currency translation adjustments             11                   (11)  
Net increase/(decrease) in cash and cash                                        
equivalents                                           2                   (77)  
Cash and cash equivalents - beginning of period     770                    770  
Cash and cash equivalents - end of period           772                    693  
The accompanying notes are an integral part of these condensed consolidated     
financial statements.                                                           
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS                        
FOR THE THREE MONTHS ENDED 30 SEPTEMBER 2011 (Rand)                             
1. Accounting policies                                                          
Basis of accounting                                                             
The condensed consolidated financial statements for the three months ended 30   
September 2011 have been prepared in accordance with IAS 34, Interim Financial  
Reporting, JSE Listings Requirements and in the manner required by the Companies
Act of South Africa. They should be read in conjunction with the annual         
financial statements for the year ended 30 June 2011, which have been prepared  
in accordance with International Financial Reporting Standards as issued by the 
International Accounting Standards Board (IFRS). The accounting policies are    
consistent with those described in the annual financial statements, except for  
the adoption of applicable revised and/or new standards issued by the           
International Accounting Standards Board.                                       
2. Cost of sales                                                                
                                                           Three months ended   
                                          30 September                30 June   
2011                   2011   
Figures in million                          (Unaudited)            (Unaudited)  
Production costs                                  2 591                  2 508  
Royalty expense                                      32                     13  
Amortisation and depreciation                       475                    477  
Impairment of assets(1)                               -                    264  
Rehabilitation expenditure                            5                     61  
Care and maintenance cost of restructured shafts     31                     37  
Employment termination and restructuring costs(2)    34                      -  
Share-based payments                                 24                     45  
Other(3)                                              -                     86  
Total cost of sales                               3 192                  3 491  
Year ended   
                                          30 September                30 June   
                                                  2010                   2011   
Figures in million                          (Unaudited)              (Audited)  
Production costs                                  2 408                  9 074  
Royalty expense                                      23                     96  
Amortisation and depreciation                       426                  1 776  
Impairment of assets(1)                               -                    264  
Rehabilitation expenditure                            4                     74  
Care and maintenance cost of restructured shafts     25                    124  
Employment termination and restructuring costs(2)    78                    158  
Share-based payments                                 31                    136  
Other(3)                                              -                   (87)  
Total cost of sales                               2 995                 11 615  
(1) During the June 2011 quarter, an impairment of R264 million relating to     
President Steyn 1 and 2 shafts and St Helena was recorded.                      
(2) The amount of R34 million in September 2011 quarter relates to restructuring
at the Bambanani shaft.                                                         
(3) Included in Other for the June 2011 quarter is R41 million for the write    
down of the Steyn plant demolishment project.                                   
3. Exploration expenditure                                                      
                                                           Three months ended   
                                          30 September                30 June   
                                                  2011                   2011   
Figures in million                          (Unaudited)            (Unaudited)  
Total exploration expenditure                       105                    111  
Less: Expenditure capitalised(1)                    (8)                    (9)  
Exploration expenditure per income statement         97                    102  
Year ended   
                                          30 September                30 June   
                                                  2010                   2011   
Figures in million                          (Unaudited)              (Audited)  
Total exploration expenditure                       106                    398  
Less: Expenditure capitalised(1)                    (7)                   (45)  
Exploration expenditure per income statement         99                    353  
(1) Relates to brownfields exploration at Hidden Valley.                        
4. Property, plant and equipment                                                
During the September quarter the Rand had weakened over 20% against the Kina and
resulted in an increase of R836 million in the carrying amount. The             
corresponding entry was recorded in other reserves through other comprehensive  
income.                                                                         
5. Disposal groups classified as held for sale and discontinued operations      
Investment in associate                                                         
The investment in Rand Uranium has been classified as held for sale following a 
decision by the shareholders of the company to commence with a process to sell  
the company. In terms of the binding offer accepted by the shareholders on 21   
April 2011, the capital portion of the subordinated shareholder`s loan of R61   
million due to the group will be repaid out of the sale proceeds. The group`s   
attributable portion of the sale proceeds amounts to US$37.25 million. The      
investment is carried at the lower of carrying value and fair value less cost to
sell. At each reporting date, the carrying value is remeasured for possible     
impairment or reversal of impairment. An impairment of R142 million has been    
recognised for the 2011 year. During September 2011 quarter, a reversal of      
impairment of R48 million was recognised resulting from changes in the US$/R    
exchange rate.                                                                  
6. Earnings/(loss) and net asset value per share                                
Earnings/(loss) per share is calculated on the weighted average number of shares
in issue for the three months ended 30 September 2011: 430.1 million (30 June   
2011: 430.0 million, 30 September 2010: 428.7 million), and the year ended 30   
June 2011: 429.3 million.                                                       
The diluted earnings/(loss) per share is calculated on weighted average number  
of diluted shares in issue for the three months ended 30 September 2011: 431.6  
million (30 June 2011: 431.4 million, 30 September 2010: 429.9 million), and the
year ended 30 June 2011: 430.4 million.                                         
Three months ended   
                                                 30 September         30 June   
                                                         2011            2011   
                                                  (Unaudited)     (Unaudited)   
Total earnings/(loss) per share (cents):                                        
Basic earnings/(loss)                                      111            (10)  
Diluted earnings/(loss)                                    111            (10)  
Headline earnings                                           95              30  
- from continuing operations                                95              30  
- from discontinued operations                               -               -  
Diluted headline earnings                                   95              30  
- from continuing operations                                95              30  
- from discontinued operations                               -               -  
Figures in million                                                              
Reconciliation of headline earnings:                                            
Continuing operations                                                           
Net profit/(loss)                                          478            (42)  
Adjusted for:                                                                   
Profit on sale of property, plant and equipment           (26)             (5)  
Taxation effect of profit on sale of                                            
property, plant and equipment                                7               1  
Net gain on financial instruments                            -             (6)  
Taxation effect of net gain on financial instruments         -               2  
(Reversal of impairment)/impairment of                                          
investment in associate*                                  (48)            (18)  
Foreign exchange loss reclassified from                                         
other comprehensive income*                                  -               -  
Impairment of assets                                         -             264  
Taxation effect of impairment of assets                      -            (66)  
Headline earnings                                          411             130  
Discontinued operations                                                         
Net (loss)/profit                                            -               -  
Adjusted for:                                                                   
Profit on sale of investment in subsidiary                   -               -  
Taxation effect of profit on sale of                                            
investment in subsidiary                                     -               -  
Foreign exchange loss reclassified from                                         
other comprehensive income                                   -               -  
Headline earnings                                            -               -  
Total headline earnings                                    411             130  
Year ended   
                                                   30 September       30 June   
                                                           2010          2011   
                                                    (Unaudited)     (Audited)   
Total earnings/(loss) per share (cents):                                        
Basic earnings/(loss)                                         23           144  
Diluted earnings/(loss)                                       23           144  
Headline earnings                                             33           223  
- from continuing operations                                  33           223  
- from discontinued operations                                 -             -  
Diluted headline earnings                                     33           222  
- from continuing operations                                  33           222  
- from discontinued operations                                 -             -  
Figures in million                                                              
Reconciliation of headline earnings:                                            
Continuing operations                                                           
Net profit/(loss)                                            105           597  
Adjusted for:                                                                   
Profit on sale of property, plant and equipment             (16)          (29)  
Taxation effect of profit on sale of property,                                  
plant and equipment                                            5             7  
Net gain on financial instruments                              -           (7)  
Taxation effect of net gain on financial instruments           -             2  
(Reversal of impairment)/impairment of investment                               
in associate*                                                  -           142  
Foreign exchange loss reclassified from other                                   
comprehensive income*                                         47            47  
Impairment of assets                                           -           264  
Taxation effect of impairment of assets                        -          (66)  
Headline earnings                                            141           957  
Discontinued operations                                                         
Net (loss)/profit                                            (3)            20  
Adjusted for:                                                                   
Profit on sale of investment in subsidiary                 (138)         (138)  
Taxation effect of profit on sale of investment in                              
subsidiary                                                    34            34  
Foreign exchange loss reclassified from other                                   
comprehensive income                                         107            84  
Headline earnings                                              -             -  
Total headline earnings                                      141           957  
* There is no taxation effect on these items.                                   
Net asset value per share (cents)                                               
                                          At              At               At   
                                30 September         30 June     30 September   
2011            2011             2010   
                                 (Unaudited)       (Audited)      (Unaudited)   
Number of shares in issue         430 272 715     430 084 628      428 850 584  
Net asset value per share (cents)       7 290           7 013            6 819  
7. Borrowings                                                                   
                                            At            At               At   
                                  30 September       30 June     30 September   
                                          2011          2011             2010   
Figures in million                  (Unaudited)     (Audited)      (Unaudited)  
Total long-term borrowings                1 684         1 229              970  
Total current portion of borrowings         331           330              207  
Total borrowings (1) (2)                  2 015         1 559            1 177  
(1) At 30 September 2011, R300 million (30 June 2011: R400 million, 30 September
2010: R300 million) of the Nedbank facilities had not been drawn down.          
On 11 August 2011, the group entered into a US$300 million syndicated revolving 
credit facility, which was jointly arranged by Nedbank Limited and Firstrand    
Bank Limited (acting through its Rand Merchant Bank division). The facility is  
repayable after four years and attracts interest at LIBOR plus 260 basis points,
which is payable quarterly.                                                     
At 30 September 2011, US$250 million of this facility had not been drawn down.  
(2) Included in the borrowings is R52 million (30 June 2011: R51 million;       
September 2010: R74 million) owed to Westpac Bank Limited in terms of a finance 
lease agreement.                                                                
The future minimum lease payments are as follows:                               
At            At               At   
                                  30 September       30 June     30 September   
                                          2011          2011             2010   
Figures in million                  (Unaudited)     (Audited)      (Unaudited)  
Due within one year                          31            29               30  
Due between one and five years               22            23               46  
                                            53            52               76   
Future finance charges                      (1)           (1)              (2)  
Total future minimum lease payments          52            51               74  
8. Commitments and contingencies                                                
                                            At            At               At   
                                  30 September       30 June     30 September   
2011          2011             2010   
Figures in million                  (Unaudited)     (Audited)      (Unaudited)  
Capital expenditure commitments:                                                
Contracts for capital expenditure           290           194              369  
Authorised by the directors but                                                 
not contracted for                        3 570         1 504            2 070  
                                         3 860         1 698            2 439   
This expenditure will be financed from existing resources and borrowings where  
necessary.                                                                      
Contingent liability                                                            
For a detailed disclosure on contingent liabilities refer to Harmony`s          
integrated annual report for the year ended 30 June 2011, available on the      
group`s website at www.harmony.co.za. There were no significant changes in      
contingencies since 30 June 2011.                                               
9. Dividends paid                                                               
On 12 August 2011, the board approved a payment of dividend of 60 SA cents per  
share for the year ended 30 June 2011. The total dividend amounting to R258     
million was paid on 19 September 2011.                                          
10. Subsequent events                                                           
There are no subsequent events to report.                                       
11. Segment reports                                                             
The segment reports follows after note 12.                                      
12. Reconciliation of segment information to consolidated income statements     
                                                30 September     30 September   
2011             2010   
Figures in million                                (Unaudited)      (Unaudited)  
The "Reconciliation of segment information to                                   
consolidated income statement" line item in the                                 
segment report is broken down in the following                                  
elements, to give a better understanding of                                     
the differences between the income statement                                    
and segment report:                                                             
Reconciliation of production profit to gross profit:                            
Total segment revenue                                   3 929            3 083  
Total segment production costs and royalty expense    (2 623)          (2 431)  
Production profit per segment report                    1 306              652  
Cost of sales items other than production costs                                 
and royalty expense                                     (569)            (564)  
Amortisation and depreciation                           (475)            (426)  
Employment termination and restructuring costs           (34)             (78)  
Share-based payments                                     (24)             (31)  
Rehabilitation costs                                      (5)              (4)  
Care and maintenance costs of restructured shafts        (31)             (25)  
Gross profit as per income statements *                   737               88  
* The reconciliation was done up to the first recognisable line item on the     
income statement. The reconciliation will follow the income statement after     
that.                                                                           
SEGMENT REPORT (Rand/Metric) (Unaudited)                                        
for the three months ended 30 September 2011                                    
                                               Revenue        Production cost   
                                              September           September     
                                           2011      2010      2011      2010   
R million           R million     
South Africa                                                                    
Underground                                                                     
Bambanani (1)                                175       270       201       223  
Doornkop                                     348       168       230       148  
Evander                                      330       174       175       176  
Joel                                         283        44       149        75  
Kusasalethu                                  575       475       335       387  
Masimong                                     314       374       215       202  
Phakisa                                      206       112       188       111  
Target (2)                                   459       244       311       189  
Tshepong                                     466       500       305       294  
Virginia                                     136       223       121       225  
Surface                                                                         
All other surface operations (3)             378       317       250       238  
Total South Africa                         3 670     2 901     2 480     2 268  
International                                                                   
Hidden Valley                                259       182       143       163  
Other                                          -         -         -         -  
Total international                          259       182       143       163  
Total operations                           3 929     3 083     2 623     2 431  
Reconciliation of the segment information                                       
to the consolidated income statement                                            
(refer to note 12)                             -         -         -         -  
3 929     3 083     2 623     2 431   
                                     Production profit    Capital expenditure   
                                         September              September       
                                      2011     2010           2011    2010      
R million               R million       
South Africa                                                                    
Underground                                                                     
Bambanani (1)                          (26)       47             77      83     
Doornkop                                118       20             65      70     
Evander                                 155      (2)             38      59     
Joel                                    134     (31)             13      18     
Kusasalethu                             240       88             98     104     
Masimong                                 99      172             50      41     
Phakisa                                  18        1             74      92     
Target (2)                              148       55             75     118     
Tshepong                                161      206             59      61     
Virginia                                 15      (2)             16      30     
Surface                                                                         
All other surface operations (3)        128       79             26      12     
Total South Africa                    1 190      633            591     688     
International                                                                   
Hidden Valley                           116       19             40      61     
Other                                     -        -             69       -     
Total international                     116       19            109      61     
Total operations                      1 306      652            700     749     
Reconciliation of the segment                                                   
information to the consolidated                                                 
income statement (refer to note 12)                                             
Kilograms produced      Tonnes milled   
                                             September            September     
                                          2011       2010      2011      2010   
                                                kg                  t`000       
South Africa                                                                    
Underground                                                                     
Bambanani (1)                               498        942        92       129  
Doornkop                                    866        541       277       140  
Evander                                     854        552       123       140  
Joel                                        691        148       147        40  
Kusasalethu                               1 554      1 513       331       269  
Masimong                                    796      1 263       232       243  
Phakisa                                     526        377       113        86  
Target (2)                                1 180        947       288       205  
Tshepong                                  1 183      1 688       287       338  
Virginia                                    340        760        92       244  
Surface                                                                         
All other surface operations (3)            927      1 069     2 473     2 837  
Total South Africa                        9 415      9 800     4 455     4 671  
International                                                                   
Hidden Valley                               792        671       415       427  
Other                                         -          -         -         -  
Total international                         792        671       415       427  
Total operations                         10 207     10 471     4 870     5 098  
Reconciliation of the segment                                                   
information to the                                                              
consolidated income statement and                                               
balance sheet                                                                   
(refer to note 12)                                                              
(1) Production statistics for Steyn 2 have been included. This mine is in a     
build-up phase and revenue and costs are currently capitalised, until commercial
production levels are reached.                                                  
(2) The September 2010 production statistics includes Target 3 for information  
purpose. Target 3 was still in build-up phase with revenue and costs being      
capitalised.                                                                    
(3) Includes Kalgold, Phoenix, Dumps and President Steyn plant clean-up.        
Harmony`s strategy                                                              
Harmony`s strategy is to produce 1.8 - 2 million* safe and profitable ounces of 
gold by 2015. Following a review of assets during 2011, action was taken and    
capital committed to increase production at existing operations, further the    
development of current projects and advance scoping studies so as to ensure the 
future production pipeline of tomorrow`s gold by growing reserves and resources 
and strengthening the quality of our asset base.                                
Our challenge going forward is to meet our targets and objectives and, more     
specifically, to deliver consistent production results, improve productivity,   
curb costs and to create and deliver value to shareholders.                     
* Excludes future acquisitions or disposals.                                    
CONTACT DETAILS                                                                 
Corporate Office                                                                
Randfontein Office Park                                                         
PO Box 2, Randfontein, 1760, South Africa                                       
Corner Main Reef Road/Ward Avenue, Randfontein, 1759, South Africa              
Telephone: +27 11 411 2000                                                      
Website: www.harmony.co.za                                                      
Directors                                                                       
P T Motsepe Chairman*                                                           
G P Briggs Chief Executive Officer                                              
H O Meyer Financial Director                                                    
H E Mashego Executive Director                                                  
F F T De Buck* Lead independent director                                        
F Abbott*, J A Chissano*1, K V Dicks*, Dr D S Lushaba*, C Markus*,              
M Motloba*, M Msimang*, D Noko*, C M L Savage*, J Wetton*,                      
A J Wilkens*                                                                    
* Non-executive                                                                 
Independent                                                                     
1 Mozambican                                                                    
Investor relations team                                                         
Henrika Basterfield                                                             
Investor Relations Officer                                                      
Telephone: +27 11 411 2314                                                      
Fax: +27 11 692 3879                                                            
Mobile: +27 82 759 1775                                                         
E-mail: henrika@harmony.co.za                                                   
Marian van der Walt                                                             
Executive: Corporate and Investor Relations                                     
Telephone: +27 11 411 2037                                                      
Fax: +27 86 614 0999                                                            
Mobile: +27 82 888 1242                                                         
E-mail: marian@harmony.co.za                                                    
Company Secretary                                                               
iThemba Governance and Statutory Solutions (Pty) Ltd                            
Riana Bisschoff                                                                 
Telephone : 011 411 2127                                                        
Mobile: +2783 629 4706                                                          
E-mail: riana@ithembaonline.co.za                                               
South African Share Transfer Secretaries                                        
Link Market Services South Africa (Proprietary) Limited                         
(Registration number 2000/007239/07)                                            
13th Floor, Rennie House, 19 Ameshoff Street, Braamfontein, 2001                
PO Box 4844, Johannesburg, 2000, South Africa                                   
Telephone: +27 86 154 6572                                                      
Fax: +27 86 674 4381                                                            
United Kingdom Registrars                                                       
Capita Registrars                                                               
The Registry, 34 Beckenham Road, Bechenham                                      
Kent BR3 4TU, United Kingdom                                                    
Telephone: 0871 664 0300 (UK) (calls cost 10p a minute plus network             
extras, lines are open 8:30am - 5:30pm, Monday to Friday)                       
or +44 (0) 20 8639 3399 (calls from overseas)                                   
Fax: +44 (0) 20 8639 2220                                                       
ADR Depository                                                                  
Deutsche Bank Trust Company Americas                                            
c/o American Stock Transfer and Trust Company, Peck Slip Station                
PO Box 2050, New York, NY 10272-2050                                            
E-mail queries: db@amstock.com                                                  
Toll free: +1-886-249-2593                                                      
Int: +1-718-921-8137                                                            
Fax: +1-718-921-8334                                                            
Sponsor                                                                         
J.P. Morgan Equities Limited                                                    
1 Fricker Road, corner Hurlingham Road, Illovo, Johannesburg, 2196              
Private Bag X9936, Sandton, 2146                                                
Telephone: +27 11 507 0300                                                      
Fax: +27 11 507 0503                                                            
Trading Symbols                                                                 
JSE Limited: HAR                                                                
New York Stock Exchange, Inc: HMY                                               
London Stock Exchange Plc: HRM                                                  
Euronext, Brussels: HMY                                                         
Berlin Stock Exchange: HAM1                                                     
Registration number                                                             
1950/038232/06                                                                  
Incorporated in the Republic of South Africa                                    
ISIN                                                                            
ZAE 000015228                                                                   
Harmony`s Annual Report, Notice of Annual General Meeting, its Sustainable      
Development Report and its Annual Report filed on a form 20F with the United    
States` Securities and Exchange Commission for the year ended 30 June 2011 are  
available on our website: www.harmony.co.za                                     
Date: 31/10/2011 07:05:01 Supplied by www.sharenet.co.za                     
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information disseminated through SENS.                                          



                                        
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