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HARMONY GOLD MINING COMPANY LIMITED - Higher production, lower costs = profit for Harmony

Release Date: 08/11/2013 07:06:00      Code(s): HAR       PDF(s):  
Higher production, lower costs = profit for Harmony

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”)

Higher production, lower costs = profit for Harmony

 - 12% increase in gold production for second consecutive quarter
 - 55% increase in operating profit quarter on quarter
 - Significant cost reductions during the quarter
   - cash operating costs decreased by 7% to R324 272/kg (11% to
     US$1 013/oz)
   - 14% decrease in all-in sustaining costs from R471 146/kg to
     R404 694/kg (19% from US$1 551/oz to US$1 264/oz)

Harmony Gold Mining Company Limited (‘Harmony’) is pleased to advise
that gold production increased by 12% for the second consecutive
quarter, while cash operating costs decreased by 7% to R324 272/kg
(11% to US$1 013/oz) and all-in sustaining costs decreased by 14% to
R404 694/kg (19% from US$1 551/oz to US$1 264/oz) quarter on quarter.

The increase in production resulted in a significant increase in
operating profit of 55% quarter on quarter, increasing from R671
million in the June 2013 quarter to R1 037 million in the September
2013 quarter. The operating profit in US dollars increased by 46%,
from US$71 million to US$104 million.

“Harmony has built new mines, enabling it to access new and higher
grade mining areas. It takes time before you reap the results of a
long term strategy – ours is finally paying off. We have illustrated
in the past two quarters that we can deliver and have positioned
ourselves to continue delivering”, said Graham Briggs, chief
executive officer of Harmony.

Please refer to http://www.harmony.co.za/investors for details of our
dial-in and webcast information for today’s results’ calls and to
download the quarterly booklet and presentation in support of our
webcast and calls.

For more details contact:

Henrika Basterfield
Investor Relations Manager

+27 (0) 82 759 1775 (mobile)

Marian van der Walt
Executive: Corporate and Investor Relations
+27 (0) 82 888 1242 (mobile)
8 November 2013

J.P. Morgan Equities South Africa (Pty) Limited.

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