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HARMONY GOLD MINING COMPANY LIMITED - Harmony provides quarterly and year end guidance; update on Doornkops future

Release Date: 15/07/2015 11:40:00      Code(s): HAR       PDF(s):  
Harmony provides quarterly and year end guidance; update on Doornkop’s future

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

Harmony provides quarterly and year end guidance; update on Doornkop’s
•    Quarterly gold production up 4% to 5%
•    More than 3 100 jobs (employees plus contractors) saved at the
Doornkop mine, with the mine finalising its restructuring process and
positioning it to return to profitability

Harmony Gold Mining Company Limited (“Harmony” and/or “the Company”) is
pleased to advise that gold production during the June 2015 quarterly
is likely to be 4% to 5% higher quarter-on-quarter, while gold
production for FY15 ended 30 June 2015 is estimated to be at 1.08
million ounces.

On 19 May 2015, Harmony started a 60 day consultation process with
organised labour at its Doornkop mine in terms of section 189a
(“Section 189a”) of the Labour Relations Act, 66 of 1995 ("LRA") with a
view to find ways to return the mine to profitability or to place the
mine on care and maintenance.   Following several meetings with
organised labour, Harmony and the unions have agreed to a new
operational plan for Doornkop that will return the mine to
profitability, thus saving a significant number of jobs.

Doornkop mine’s newly agreed plan provides for more than 3 100
employees (including contractors), with only 526 employees (including
contractors) being affected. The majority of these employees have been
transferred to other operations.   Of the 526, about 183 people will
either be re-skilled for redeployment elsewhere in Harmony or may elect
to accept a voluntary severance package.
Harmony chief executive officer Graham Briggs, said: “The outcome of
the Doornkop discussions is testimony to what can be achieved when all
parties engage with the same aim in mind – finding a sustainable
solution to ensure the viability of the mine and at the same time
securing the majority of jobs. We would like to acknowledge the role of
union leadership and wish to thank them for assisting us in securing
Doornkop’s future.”

Harmony’s results for the quarter and year ended 30 June 2015 will be
released on Tuesday, 18 August 2015. Please refer to
http://www.harmony.co.za/investors for dial-in and webcast information.

For more details contact:

Henrika Ninham
Investor Relations Manager
Tel:   +27 (0)82 759 1775 (mobile)

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

15 July 2015

J.P. Morgan Equities South Africa Proprietary Limited

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