HARMONY GOLD MINING COMPANY LIMITED - Press release - Harmony delivers excellent first quarter resultsRelease Date: 07/11/2012 07:06:00 Code(s): HAR PDF(s):
Press release - Harmony delivers excellent first quarter results
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
Harmony delivers excellent first quarter results
Johannesburg, Wednesday, 7 November 2012: Harmony Gold Mining Company
Limited ('Harmony' or 'the Company') today announced that the September 2012 quarter
was a solid start to financial year 2013. Gold production at continuing operations
increased by 8% to 10 013kg (321 924oz), while operating profit is 9% higher at R1.4bn
Gold production from underground operations was 9% higher than the prior quarter,
mainly driven by improved grade. Cash operating costs increased quarter on quarter,
mainly due to two months of winter electricity tariffs and labour increases implemented on
1 July 2012. This resulted in the rand per kilogram unit cost increasing by 6% from R278
091/kg in the June 2012 quarter to R294 404/kg in this quarter. The rand gold price
received during the quarter increased by 5% from R421 565/kg in the June 2012 quarter
to R440 868/kg in the September 2012 quarter.
Headline earnings per share increased quarter on quarter to 123 SA cents (15 US cents).
Graham Briggs, chief executive officer of Harmony commented, "The Company continues
to generate strong cash flows, with low debt and undrawn lending facilities. Our first
quarter results reaffirm that Harmony is guided by a clear strategy and expert
management teams delivering sustainable and competitive results."
Issued by Harmony Gold
Mining Company Limited
7 November 2012
For more details contact:
Investor Relations Manager
+27 (0) 82 759 1775 (mobile)
Marian van der Walt
Executive: Corporate and
+27 (0) 82 888 1242 (mobile)
Randfontein Office Park
P O Box 2
South Africa 1760
T +27 (11) 411 2000
ISIN No.: ZAE000015228
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