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HARMONY GOLD MINING COMPANY LIMITED - Harmony driven by excellence

Release Date: 17/08/2016 07:06:00      Code(s): HAR       PDF(s):  
Harmony driven by excellence

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

Harmony driven by excellence

•   6% increase in underground recovered grade
•   54% reduction in net debt to R1.08 billion (61% to
    US$74 million)
•   Net profit of R949 million (US$15 million)
•   Dividend of 50 SA cents (approximately 4 US cents)
•   Headline earnings per share (HEPS) of 221 SA cents
    (US$ 15 cents)
•   Further enhancing portfolio of copper-gold assets

Johannesburg: Wednesday, 17 August 2015. Harmony Gold Mining
Company Limited (“Harmony” and/or “the Company”) today
announced its results for the six months and year ended
30 June 2016.

“Harmony is driven by excellence. We have a proactive approach
to safety and health, with excellent operational and
management teams, a world-class exploration team, we lead
environmental rehabilitation in South Africa and we continued
to differentiate ourselves through quality grade management,
increasing underground grade for the fourth consecutive
year – this year by 6% to 5.02g/t”, said Peter Steenkamp,
chief executive officer of Harmony.

Harmony’s revenue increased by 19% and the Company recorded a
net profit of R949 million (US$15 million) on the back of a
21% increase in the R/kg gold price, combined with achieving
its production guidance of approximately 1.1 million ounces.
Net debt was reduced by 54% to R1.08 billion (61% to
US$74 million).

Production profit increased to R5.084 billion (US$350
million), up 81% from R2.802 billion (US$245 million) in FY15
after accounting for a 7% increase in cash operating costs
(R821 million or US$171 million). Overall, cost increases were
lower than inflation, with all-in sustaining cost (AISC) for
all operations increasing by only 3% to R467 526/kg (decrease
of 19% to $1 003/oz), compared to R453 044/kg($1 231/oz) in

“Having turned around the previous year’s headline loss to
headline earnings of 221 SA cents (15 US$ cents), we felt it
prudent to declare a dividend of 50 SA cents (about
4 US cents). It was indeed a good year for Harmony”, Peter
Steenkamp added.

For more details contact:

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

Johannesburg, South Africa

17 August 2016


J.P. Morgan Equities South Africa Proprietary Limited

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