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HARMONY GOLD MINING COMPANY LIMITED - Press Release - Resilient financial delivery; interim dividend declared

Release Date: 04/02/2013 07:06:00      Code(s): HAR       PDF(s):  
Press Release - Resilient financial delivery; interim dividend declared

Harmony Gold Mining Company Limited
Registration number 1950/038232/06
Incorporated in the Republic of South Africa
ISIN: ZAE000015228
JSE share code: HAR
(“Harmony” or “the company”)

Press Release   -   Resilient   financial   delivery;   interim   dividend

  •   28% increase in headline earnings per share* to 158 SA cents
      (18 US cents)
  •   Doornkop’s build-up takes its production to over a tonne of
      gold for the quarter
  •   6% increase in underground grade – third consecutive quarter
      of grade improvements
  •   Gold production decreased by 9% to 9 074kg (291 734oz)
  •   South African operations (excluding Kusasalethu) increased
      gold production by 3%
  •   Operating profit¹ 16% higher at R1.6 billion (US$188 million)
  •   Cash operating costs improved by 4% to R2.8 billion (US$323
  •   Committed to more housing projects
  •   Interim dividend of 50 SA cents declared

Johannesburg, Monday, 4 February 2013.       Harmony Gold Mining
Company Limited (Harmony) reported a 16% increase in operating
profit¹ to R1.6 billion (US$188 million) and a 28% rise in
headline earnings per share to 158 SA cents (18 US cents) for the
quarter ended 31 December 2012.

An interim dividend of 50 SA cents per share has been declared.

The increase in operating profit¹ was due to higher grade, an
increase in the gold price received and a decrease in cash
operating costs. Cash operating costs in the December 2012 quarter
decreased by R127 million (US$32 million), mainly as a result of
lower electricity costs.

Underground recovered grade increased for the third consecutive
quarter, from 4,52g/t to 4.77g/t – a 6% increase quarter on

Gold production decreased by 9% (939kg/30 190oz) in the December
2012 quarter to               9 074kg (291 734oz) from 10 013kg
(321 924oz) in the September 2012 quarter. This was as a result of
the unprotected strike and labour disruptions at Kusasalethu.

The rand per kilogram unit cost for the December 2012 quarter
increased by 6% from R294 404/kg (US$1 110/oz) in the September
2012 quarter to R310 858/kg (US$1 115/oz)      in the December
quarter, due to the decrease in gold production.    However, the
rand per kilogram cost of all operations, excluding Kusasalethu,
decreased by 4% to R285 498/kg (US$1 024/oz) from R296 650/kg
(US$1 119/oz) in the previous quarter.

Commenting on results for the quarter and six months released
today, chief executive officer, Graham Briggs, says: “A 6%
increase in underground grade quarter on quarter to 4.77g/t and a
9% increase in the Rand gold price received to R479 801/kg,
contributed to a 16% increase in the operating profit to R1.6
billion,   notwithstanding  the   negative impact   on  operating
performance due to labour disruptions at Kusasalethu. Overall a
strong financial quarter for Harmony.”

Note: All figures represent continuing operations unless stated
* Includes discontinued operations
¹ Operating profit is comparable to the term production profit in
the segment report in the financial statements and not to the
operating profit line in the income statement


For more details contact:

Henrika Basterfield
Investor Relations Officer
+27 (0) 82 759 1775 (mobile)

Marian van der Walt
Executive: Corporate and Investor Relations
+27 (0) 82 888 1242 (mobile)

Corporate Office:
Randfontein Office Park
P O Box 2
South Africa 1760
T +27 (11) 411 2000

4 February 2013

J.P. Morgan Equities South Africa Proprietary Limited

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