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HAR - Harmony Gold Mining Company Ltd - Harmony`s production guidance for the

Release Date: 13/04/2012 13:00:51      Code(s): HAR
HAR - Harmony Gold Mining Company Ltd - Harmony`s production guidance for the   
March 2012 quarter                                                              
Harmony Gold Mining Company Ltd                                                 
Incorporated in the Republic of South Africa                                    
Registration number: 1950/038232/06                                             
Share code: HAR                                                                 
ISIN: ZAE000015228                                                              
Johannesburg. Friday, 13 April 2012. Harmony Gold Mining Company Limited        
("Harmony" or the "Company") announces that gold production for the quarter     
ended March 2012 will be approximately 18% lower than the previous quarter.     
A number of factors contributed to a weaker than expected quarter:              
-    The festive season and public holiday disruptions associated with the      
    March quarter, being less shifts worked than in the December quarter, as    
    well as slow start-ups post the holidays;                                   
-    Safety stoppages;                                                          
-    Shifts lost due to the one day protected strike of the Congress of South   
    African Trade Unions (COSATU);                                              
-    Heavy rains in Papua New Guinea impacted gold production at Hidden         
Valley negatively                                                           
-    The upgrade of the infrastructure at Doornkop resulted in gold             
    production at this shaft being 44% lower quarter on quarter (as guided      
    in February 2012);                                                          
-    Lower than expected grades at Tshepong, Masimong, Unisel and Joel          
    contributed to a 12% decline in underground grade.                          
"The March quarter is not in line with our expectations.  Safety stoppages      
indicate that we need to do even more to ensure a safer working environment     
for our employees at all times.  Harmony has made significant strides in        
improving its safety. However, the attention that safety receives reminds all   
involved - management, employees, unions and government - that safety remains   
a joint responsibility and we need to find solutions in a co-operative and      
constructive manner.  We have conducted a gap analysis to establish where we    
need to do more and have already put actions in place to address these. The     
grade performance was not in line with our plans and we simply have to work     
harder at meeting our targets", said Graham Briggs, chief executive officer     
of Harmony.                                                                     
Harmony`s results for the quarter ended 31 March 2012 will be released on       
Wednesday, 9 May 2012.  Please refer to our website www.harmony.co.za for       
Issued by Harmony Gold Mining Company Limited                                   
13 March 2012                                                                   
For more details contact:                                                       
Marian van der Walt                                                             
Executive: Corporate and Investor Relations                                     
+27 (0) 82 888 1242 (mobile)                                                    
Graham Briggs                                                                   
Chief Executive Officer                                                         
+27 (0) 83 265 0274 (mobile)                                                    
Corporate Office:                                                               
Randfontein Office Park                                                         
P O Box 2                                                                       
South Africa 1760                                                               
T +27 (11) 411 2000                                                             
J.P. Morgan Equities Limited                                                    
Date: 13/04/2012 13:00:51 Supplied by www.sharenet.co.za                     
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