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HARMONY GOLD MINING COMPANY LIMITED - Harmony completes Hidden Valley acquisition

Release Date: 25/10/2016 15:16:00      Code(s): HAR       PDF(s):  
Harmony completes Hidden Valley acquisition

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”)

Harmony completes Hidden Valley acquisition

Johannesburg, Tuesday, 25 October 2016: Harmony Gold Mining Company
Limited (“Harmony” and/or “the company”) today announced that South
African regulatory approval has been obtained in support of its
acquisition of the Hidden Valley mine in Papua New Guinea. The
transaction is now complete.

Harmony’s acquisition of its joint venture partner’s 50% share in
Hidden Valley and the surrounding tenement package in Papua New
Guinea, is in line with the company’s overall aspiration to increase
its annual production profile to 1.5Moz within three years.

Harmony plans to invest and develop stages 5 and 6 of the mine
initially, mining approximately 1.4Moz ounces of gold and 27Moz of
silver over a period of seven years. The company believes that Hidden
Valley has the potential to contribute approximately 180,000oz gold
per annum to Harmony’s production profile, at an all-in sustaining
cost of less than US$950/oz.

“Harmony has the skills and technology to successfully recommission
one of PNG’s most recent mine developments”, said chief executive
Peter Steenkamp.

An update on the mine’s life of mine plan will be included in
Harmony’s production update, which will be released on the 10 th of
November 2016.


For more details contact:

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

25 October 2016

J.P. Morgan Equities South Africa Proprietary Limited.

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