HAR - Harmony Gold Mining Company Ltd - Upgrade of infrastructure at Doornkop`s Release Date: 17/02/2012 09:18:19 Code(s): HAR
HAR - Harmony Gold Mining Company Ltd - Upgrade of infrastructure at Doornkop`s
South Reef to assist further production growth
Harmony Gold Mining Company Ltd
Incorporated in the Republic of South Africa
Registration number: 1950/038232/06
JSE Share code: HAR
NYSE Share code: HMY
NASDAQ Share code: HMY
Upgrade of infrastructure at Doornkop`s South Reef to assist further production
Johannesburg. Friday, 17 February 2012. Harmony Gold Mining Company Limited`s
(`Harmony` or the `Company`) Doornkop mine is a single-shaft operation mining to
a depth of just under 2 000 metres. Located 30km west of Johannesburg, Doornkop
mines the South and Kimberley Reefs using both narrow-reef conventional and
mechanised bord-and-pillar mining, with ore processed at its carbon-in-pulp
plant. The majority of tonnes that are mined at Doornkop are from the South Reef
and the balance is mined from the Kimberley Reef.
The massive improvement in year-on-year production at Doornkop reflects the
production build-up on the South Reef and introduction of new trackless
machinery on the Kimberley Reef. The build-up in production on the South Reef
has however reached a plateau. As a result, Harmony has considered various
design changes and ways of improving production from the South Reef. It was
decided that production at Doornkop`s South Reef should be stopped for 17 days
to upgrade the infrastructure. Production on the South Reef will recommence
during the last week of February 2012.
Although production at Doornkop will be 45% to 50% less than the December
quarter, the upgrade will accelerate its production growth in the long term,
allowing the operation to ramp up to full production in FY15.
"This temporary production interruption is typical of a newly built operation.
As you mine deeper and as production builds up, commissioning challenges are
experienced. We have a lot of confidence in the geology and grade of South Reef
and the upgrade allows us to exploit more of the developed South Reef reserves
at an improved rate in future", said Graham Briggs, chief executive officer.
For more details contact:
Chief Executive Officer
On +27 (0)83 265 0274
Randfontein Office Park
PO Box 2
South Africa 1760
T: +27 (0)11 411 2000
17 February 2012
J.P. Morgan Equities Limited
Date: 17/02/2012 09:18:18 Supplied by www.sharenet.co.za
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