HARMONY GOLD MINING COMPANY LIMITED - Reduces debt as cash position strengthensRelease Date: 02/12/2015 12:30:00 Code(s): HAR PDF(s):
Reduces debt as cash position strengthens
Harmony Gold Mining Company Limited
Registration number 1950/038232/06
Incorporated in the Republic of South Africa
JSE share code: HAR
(“Harmony” and/or “the Company”)
Harmony reduces debt as cash position strengthens
Harmony Gold Mining Company Limited (Harmony and/or Company)
is pleased to advise that it has repaid R1.1 billion of its
debt. These repayments comprise US$50 million on its US$250
million Revolving Credit Facility (RCF) and R 400 million on
its R1.3 billion Rand facility.
The mining operations continue to perform in line with their
plans post the September 2015 quarter. An increase in the
rand gold price during October and November 2015, further
strengthened the Company’s cash position.
Despite the gold price trading around multi-year lows in US
dollar terms, Harmony, with over 90% of its operating revenue
generated in South Africa, benefits from the weak rand which
more than offsets the impact of the low US dollar gold price.
“Our hard work of the last couple of years are finally paying
off, enabling us to reduce our debt, strengthen our balance
sheet and provide us with even more certainty that we can
fund the Golpu project”, said Graham Briggs, chief executive
officer of Harmony.
For more details contact:
Investor Relations Manager
On +27 (0)82 759 1775
Marian van der Walt
Executive: Corporate and Investor Relations
+27(0) 82 888 1242
Johannesburg, South Africa
2 December 2015
J.P. Morgan Equities South Africa Proprietary Limited
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