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HARMONY GOLD MINING COMPANY LIMITED - Interim results for the six months ended 31 December 2017

Release Date: 13/02/2018 07:05:00      Code(s): HAR       PDF(s):  
Interim results for the six months ended 31 December 2017

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


FY18 INTERIM RESULTS
FOR THE SIX MONTHS ENDED 31 DECEMBER 2017


HALF YEAR ACHIEVEMENTS
-   49% increase in headline earnings per share to 224 SA cents (55% increase to 17 US cents)
-   6% increase in South African gold production
-   4% increase in underground recovered grade to 5.26g/t
-   2% decrease in all-in sustaining costs to R500 248/kg (2% increase to US$1 161/oz)
-   Hidden Valley plant upgrade completed ahead of schedule
-   Successful hedging programmes topped up



OPERATING RESULTS
                                                                 Six months      Six months
                                                                      ended           ended                     Six months
                                                                   December        December        Variance          ended      Variance*
                                                                       2017            2016               %      June 2017             %
Gold produced                                  kg                    17 418          17 227               1         16 609             5
                                               oz                   560 003         553 862               1        533 990             5
Underground grade                              g/t                     5.26            5.04               4           5.10             3
Gold price received                            R/kg                 580 672         585 908              (1)       554 515             5
                                               US$/oz                 1 348           1 303               3          1 306             3
Cash operating costs                           R/kg                 419 440         437 996               4        435 784             4
                                               US$/oz                   974             974               -          1 027             5
Total costs and capital(1)                     R/kg                 494 369         504 443               2        515 849             4
                                               US$/oz                 1 148           1 122              (2)         1 215             6
All-in sustaining costs(2)                     R/kg                 500 248         510 506               2        522 830             4
                                               US$/oz                 1 161           1 136              (2)         1 232             6
Production profit                              R million              2 712           2 474              10          1 978            37
                                               US$ million              203             177              15            150            35
Exchange rate                                  R/US$                  13.40           13.98              (4)         13.20             2

* December 2017 six months and June 2017 six month comparison
(1) Excludes investment capital for Hidden Valley
(2) Excludes share-based payment charge

FINANCIAL RESULTS
                                                                                               Six months      Six months
                                                                                                    ended           ended
                                                                                                December         December        Variance
                                                                                                     2017            2016               %
Basic earnings per share                       SAc/s                                                  203             352             (42)
                                               USc/s                                                   15              25             (40)
Headline earnings                              R million                                              990             657              51
                                               US$ million                                             74              47              57
Headline earnings per share                    SAc/s                                                  224             150              49
                                               USc/s                                                   17              11              55


HARMONY'S ANNUAL REPORTS

Harmony's Integrated Annual Report, the Sustainable Development Information which serves as supplemental information to the Integrated
Annual Report and its annual report filed on a Form 20F with the United States' Securities and Exchange Commission for the financial year
ended 30 June 2017 is available on our website (www.harmony.co.za/investors)

FORWARD-LOOKING STATEMENTS

This report contains forward-looking statements within the meaning of the safe harbor
provided by Section 21E of the Securities Exchange Act of 1934, as amended, and Section
27A of the Securities Act of 1933, as amended, with respect to our financial condition,
results of operations, business strategies, operating efficiencies, competitive positions,
growth opportunities for existing services, plans and objectives of management, markets
for stock and other matters. These include all statements other than statements of
historical fact, including, without limitation, any statements proceeded by, followed by,
or that include the words "targets", "believes", "expects", "aims" "intends" "will",
"may", "anticipates", "would", "should", "could", "estimates", "forecast", "predict",
"continue" or similar expressions or the negative thereof.

These forward-looking statements, including, among others, those relating to our future
business prospects, revenues and income, wherever they may occur in this report and the
exhibits to this report, are essentially estimates reflecting the best judgment of our senior
management and involve a number of risks and uncertainties that could cause actual
results to differ materially from those suggested by the forward-looking statements. As a
consequence, these forward-looking statements should be considered in light of various
important factors, including those set forth in this report. Important factors that could
cause actual results to differ materially from estimates or projections contained in the
forward-looking statements include, without limitation: overall economic and business
conditions in South Africa, Papua New Guinea, Australia and elsewhere, estimates of
future earnings, and the sensitivity of earnings to the gold and other metals prices,
estimates of future gold and other metals production and sales, estimates of future cash
costs, estimates of future cash flows, and the sensitivity of cash flows to the gold and
other metals prices, statements regarding future debt repayments, estimates of future
capital expenditures, the success of our business strategy, development activities and
other initiatives, estimates of reserves statements regarding future exploration results
and the replacement of reserves, the ability to achieve anticipated efficiencies and other
cost savings in connection with past and future acquisitions, fluctuations in the market
price of gold, the occurrence of hazards associated with underground and surface gold
mining, the occurrence of labour disruptions, power cost increases as well as power
stoppages, fluctuations and usage constraints, supply chain shortages and increases in
the prices of production imports, availability, terms and deployment of capital, changes
in government regulation, particularly mining rights and environmental regulation,
fluctuations in exchange rates, the adequacy of the group's insurance coverage and
socio-economic or political instability in South Africa and Papua New Guinea and other
countries in which we operate.

For a more detailed discussion of such risks and other factors (such as availability of credit
or other sources of financing), see the company's latest Integrated Annual Report on
Form 20-F which is on file with the Securities and Exchange Commission, as well as the
Company's other Securities and Exchange Commission filings. The company undertakes
no obligation to update publicly or release any revisions to these forward-looking
statements to reflect events or circumstances after the date of this annual report or to
reflect the occurrence of unanticipated events, except as required by law.


COMPETENT PERSON'S DECLARATION

In South Africa, Harmony employs an ore reserve manager at each of its
operations who takes responsibility for the compilation and reporting
of mineral resources and mineral reserves at their operations. In
Papua New Guinea, competent persons are appointed for the mineral
resources and mineral reserves for specific projects and operations.
The mineral resources and mineral reserves in this report are based on
information compiled by the following competent persons:

Resources and reserves of South Africa:

Jaco Boshoff, BSc (Hons), MSc, MBA, Pr. Sci. Nat, MSAIMM, MGSSA,
who has 22 years' relevant experience and is registered with the
South African Council for Natural Scientific Professions (SACNASP) and
a member of the Geological Society of South Africa (GSSA). Mr Boshoff
is Harmony's Lead Competent Person.

Jaco Boshoff

Physical address:                                Postal address:

Randfontein Office park                          PO Box 2
Corner of Main Reef Road and Ward Avenue         Randfontein
Randfontein                                      1760
South Africa                                     South Africa

Resources and reserves of Papua New Guinea:

Gregory Job, BSc, MSc, who has 29 years' relevant experience and is a
member of the Australian Institute of Mining and Metallurgy (AusIMM).

Greg Job

Physical address:                                Postal address:

Level 2                                          PO Box 1562
189 Coronation Drive                             Milton, Queensland
Milton, Queensland 4064                          4064
Australia                                        Australia

Both these competent persons, who are full-time employees of
Harmony Gold Mining Company Limited, consent to the inclusion in
the report of the matters based on the information in the form and
context in which it appears.


SHAREHOLDER INFORMATION

Issued ordinary share capital at 31 December 2017            444 724 878

Issued ordinary share capital at 30 June 2017                439 957 199

Issued ordinary share capital at 31 December 2016            439 787 199

MARKET CAPITALISATION

At 31 December 2017 (ZARm)                                        10 627

At 31 December 2017 (US$m)                                           858

At 30 June 2017 (ZARm)                                             9 538

At 30 June 2017 (US$m)                                               728

At 31 December 2016 (ZARm)                                        13 866

At 31 December 2016 (US$m)                                         1 014

HARMONY ORDINARY SHARES AND ADR PRICES

12-month high (1 January 2017 - 31 December 2017)                 R38.80
for ordinary shares

12-month low (1 January 2017 - 31 December 2017)                  R20.68
for ordinary shares

12-month high (1 January 2017 - 31 December 2017)                US$2.99
for ADRs

12-month low (1 January 2017 - 31 December 2017)                 US$1.68
for ADRs

FREE FLOAT                                                          100%

ADR RATIO                                                            1:1

JSE LIMITED                                                          HAR

Range for six months (1 July 2017                        R27.90 - R21.08
- 31 December 2017 closing prices)

Average daily volume for the six months (1 July 2017           2 727 918
- 31 December 2017)

Range for previous six months (1 January 2017            R20.68 - R38.80
- 30 June 2017 closing prices)

Average daily volume for the previous six months               2 158 424
(1 January 2017 - 30 June 2017)

NEW YORK STOCK EXCHANGE                                              HMY
including other US trading platforms

Range for six months (1 July 2017                         U$2.19-US$1.56
- 31 December 2017 closing prices)

Average daily volume for the six months (1 July 2017           2 845 843
- 31 December 2017)

Range for previous six months (1 January 2017          US$2.99 - US$1.58
- 30 June 2017 closing prices)

Average daily volume for the previous six months               5 502 443
(1 January 2017 - 30 June 2017)

Investors' calendar

H2 FY18 live presentation from Johannesburg               15 August 2018

Annual General Meeting                                  23 November 2018


CONTACT DETAILS

CORPORATE OFFICE

Randfontein Office Park
PO Box 2, Randfontein, 1760, South Africa
Corner Main Reef Road and Ward Avenue
Randfontein, 1759, South Africa
Telephone: +27 11 411 2000
Website: www.harmony.co.za

DIRECTORS

PT Motsepe* (chairman)
FFT De Buck*^ (lead independent director)
JM Motloba*^ (deputy chairman)
PW Steenkamp (chief executive officer)
F Abbott (financial director)
JA Chissano*1^, KV Dicks*^, Dr DSS Lushaba*^
HE Mashego**, M Msimang*^, KT Nondumo*^
VP Pillay*^, MV Sisulu*^, JL Wetton*^, AJ Wilkens*
* Non-executive
** Executive
^ Independent
1 Mozambican

INVESTOR RELATIONS

E-mail: HarmonyIR@harmony.co.za
Telephone: +27 11 411 2314
Website: www.harmony.co.za

COMPANY SECRETARY

Telephone: +27 11 411 2094
E-mail: companysecretariat@harmony.co.za

TRANSFER SECRETARIES

Link Market Services South Africa (Proprietary) Limited
(Registration number 2000/007239/07)
13th Floor, Rennie House, Ameshoff Street, Braamfontein
PO Box 4844, Johannesburg, 2000, South Africa
Telephone: +27 11 713 0800
E-mail: info@linkmarketservices.co.za
Fax: +27 86 674 2450

ADR* DEPOSITARY

Deutsche Bank Trust Company Americas
c/o American Stock Transfer and Trust Company
Peck Slip Station
PO Box 2050, New York, NY 10272-2050
E-mail queries: db@amstock.com
Toll free: +1-800-937-5449
Int: +1-718-921-8137
Fax: +1-718-765-8782
*ADR: American Depositary Receipt

SPONSOR

JP Morgan Equities South Africa (Pty) Ltd
1 Fricker Road, corner Hurlingham Road
Illovo, Johannesburg, 2196
Private Bag X9936, Sandton, 2146
Telephone: +27 11 507 0300
Fax: +27 11 507 0503

TRADING SYMBOLS

JSE Limited: HAR
New York Stock Exchange, Inc.: HMY

REGISTRATION NUMBER:

1950/038232/06
Incorporated in the Republic of South Africa

ISIN:

ZAE 000015228


MESSAGE FROM THE CHIEF EXECUTIVE OFFICER

We continue to deliver on our strategy to produce safe, profitable
ounces and increasing our margins.

Operational excellence, which encompasses safety, good mining
discipline and focused grade management has resulted in a solid
production performance in the six months ended 31 December 2017.
The production from our South African operations has become far
more consistent.

On 1 February 2018 shareholders approved the acquisition of the
Moab Khotsong assets, advancing our growth aspiration of becoming
a 1.5 Moz producer and a leading South African gold mining company.

SAFETY

It is with great regret that we report eight fatalities in four separate
incidents in the six months ended 31 December 2017, which serves
as a constant reminder that we have to do even more in securing a
safe working place. The increase of fall-of-ground related accidents
across the mining industry has led to the investigation into new leading
practices related to ledging and drilling and blasting by an industry
safety task team.

The safety and health of all our employees is our primary concern. Risk
management, employee training, control implementation and control
assessments remain critical in our approach to managing safety. A key
pillar of Harmony's Live Longer safety campaign is the promotion of a
culture of continuous care and learning at all our operations.

OPERATIONAL RESULTS - H1FY17 TO H1FY18

Gold production for the group for the six months ended 31 December
2017 increased by 191kg (1%) to 17 418kg (560 003 oz), compared
to 17 227kg (553 862oz) for the six months ended 31 December 2016.
Gold production from the South African operations increased by
6% for the six months ended 31 December 2017 to 16 756kg
(538 719 oz), compared to 15 812kg (508 369 oz) for the six months
ended 31 December 2016.

The performance from our operations is summarised below:

-  Tshepong operations: gold production increased by 10%, due to a
   6% increase in recovered grade to 5.68g/t and a 4% increase in
   tonnes milled;

-  Target 1: gold production increased by 36%, with a 41% increase
   in  recovered grade to 4.22g/t. The December 2016 six months
   production was hampered by unfavourable mining conditions in the
   higher grade areas;

-  Doornkop: gold production increased by 25%, as a result of a 14%
   increase in recovered grade to 4.74g/t and a 10% increase in tonnes
   milled;

-  Central plant reclamation: The inaugural six months' performance
   from the operation was successful. The operation produced 243kg
   (7 812oz), 1 900 000 tonnes processed at an all-in sustaining cost of
   R405 814/kg (US$942/oz);

-  Masimong: gold production increased by 22%, due to an increase in
   recovered grade of 23% to 4.56g/t;

-  Kusasalethu: gold production increased by 3%, as a result of a 2%
   increase in recovered grade to 6.91g/t. The operation has achieved
   operational free cash flow for the third consecutive six month period;

-  At Joel gold production decreased by 30%, as a result of a 25%
   decrease in recovered grade to 3.62g/t, and a 6% decrease in tonnes
   milled. Higher grades will be achieved once the decline project is
   completed at the end of the financial year; and

-  production at Unisel continues to be hampered by lower grades.
   Development of the pillar has been accelerated in order to access
   higher grade areas earlier than initially planned and mining of the
   Leader Reef stopped.

The Hidden Valley processing infrastructure upgrade was completed
safely, ahead of schedule, and within budget. Annualised mining
rate targets have been achieved. The planned plant shutdown, which
commenced in August 2017 resulted in a decrease in production in the
December 2017 six months. The plant was commissioned two weeks
ahead of schedule in November 2017 and mining at stage 5 is a month
ahead of schedule. Commercial levels of production is expected to be
achieved in the June 2018 quarter.

Cash operating costs were well contained during the period.
The December six month period is generally impacted by two months
of higher winter electricity tariffs and annual bargaining unit wage
increases. Higher production at our South African operations resulted
in a 4% decrease in cash operating unit costs to R419 440/kg in the
six months ended 31 December 2017 (R437 996/kg for the six months
ended 31 December 2016). In US dollar terms, cash operating unit
costs remained flat at US$974/oz.

All-in sustaining costs for all operations decreased by 2% to
R500 248/kg in the six months ended 31 December 2017 when
compared to the previous comparable period of 31 December 2016. In
US dollar terms all-in sustaining costs increased by 2% to US$1 161/oz
mainly due to the strengthening of the Rand against the US dollar in
the six months ended 31 December 2017.

In line with our plans, total capital expenditure was 64%
(or  R930  million) higher at R2.38 billion (72% to US$177 million)
of which R764  million (US$58 million) related to the Hidden Valley
re-investment. 91% of the US$180 million net-investment expenditure
has been incurred up to 31 December 2017.


FINANCIAL RESULTS - H1FY17 TO H1FY18

Revenue

Revenue for the six months ended 31 December 2017 remained
relatively flat in comparison to the December 2016 period. The average
gold price received decreased by 1% to R580 672/kg (US$1 348/oz),
whilst total gold sales increased 2%.

Forward gold sale contracts of 3 359kg or 108 000oz, with an average
price of R692 836/kg (US$1 609/oz), matured during the December
2017 period. This contributed R503 million (US$38 million) to revenue.

Production costs

Production costs decreased by R264 million or 4% (an increase of
US$3  million or 1%) in the December 2017 period. The decrease in
Rand terms was mainly due to the capitalisation of production costs as
a result of the re-investment into Hidden Valley.

Impairments

An impairment calculation was performed for all operations and an
impairment of R116 million (US$9 million) was recognised on Unisel,
mainly due to a reduction in the expected production performance
going forward.

Net profit

The net profit for the six months ended 31 December 2017
was R897  million (US$65 million), compared to R1 539 million
(US$111 million) for the comparative period which included a gain on
bargain purchase of R848 million (US$61 million). Headline earnings
increased by 49% to 224 SA cents per share (55% to 17 US cents per
share) compared with 150 SA cents per share (11 US cents) for the
December 2016 period.

Borrowings

Borrowings as at 31 December 2017 consist of US$175 million utilised
on the term facility and US$40 million on the revolving credit facility.
Net debt increased to R1 511 million (US$122 million) at the end of
December 2017 from R887 million (US$68 million) at the end of June
2017. The increase is largely as a result of funding Hidden Valley's
US$180 million stage 5 and 6 development.

Hedging activity

The hedging programmes realised gains of R771 million (US$58 million)
for the December 2017 period. Management continues to top-up
these programmes when the market presents attractive opportunities
to do so.

Refer to note 7 and 11 on pages 17 and 20 for further detail.
The gold hedging programme currently provides cover for
approximately 19% of the expected gold production over the next two
years. A summary of all the open hedging contracts as at 31 December
2017 is as follows:



                                           FY18                                     FY19                   FY 2020

2018                                  Q3            Q4           Q1            Q2         Q3      Q4     Q1         Q2    TOTAL
US$ZAR           US$m                120           111           94            38                                           363
                 Floor             14.02         14.01        14.09         14.57                                         14.10
                 Cap               15.03         15.02        15.09         15.62                                         15.10
R/gold           '000 oz              54            54           54            51         51      24     24         17      329
                 R'000/kg            713           728          697           621        633     631    642        674      672
US$/gold         '000 oz              17            24           24            24         12      12                        113
                 US$/oz            1 279         1 284        1 288         1 291      1 312   1 315                      1 292
Total gold       '000 oz              71            78           78            75         63      36     24         17      442
US$/silver       '000 oz             180           210          240           240                                           870
                 Floor             17.10         17.10        17.10         17.10                                         17.10
                 Cap               18.10         18.10        18.10         18.10                                         18.10


ACQUISITION OF MOAB KHOTSONG OPERATIONS:

UPDATE

Since the announcement on 19 October 2017 of Harmony's proposed
acquisition of the Moab Khotsong operations - which includes the
Great Noligwa underground mine and related infrastructure from
AngloGold Ashanti Limited for a consideration of US$300 million in
cash - significant progress with regards to the closing of the transaction
and management of the integration of the operations has been made.
We will continue to update the market as and when conditions
precedent are met in support of the transaction. The Moab Khotsong
acquisition is expected to significantly increase Harmony's cash flow
from year one and further value will be unlocked by expanding the
reserves and extending life of mine.


GOLPU

The Wafi-Golpu Joint Venture parties continues to engage with the
PNG Government on the application for a Special Mining Lease (SML)
for the Wafi-Golpu project.

The joint venture parties are targeting completion of an updated
feasibility study during the March 2018 quarter. The focus of which
is to further optimise the Golpu business case and confirm any
amendments necessary in respect of the supporting documents for the
SML application.

CONCLUSION

We are on track to achieve our group production guidance of
1.1Moz, after producing 560 000 ounces in the six months ended
31  December  2017. The increase in production expected at Hidden
Valley will further boost our annual production.

A weaker R/kg gold price simply serves as a reminder to reassess excess
costs - if any - and to cut back on expenses that do not support the
core business. We have started with our planning process for the next
financial year. Shareholder returns inform every decision we make.
We will therefore relentlessly pursue the production of safe, profitable
ounces. We are confident that our teams realise the importance of
safety and our reinforced focus on various initiatives should ensure a
safer second half of the financial year.


OPERATING RESULTS - SIX MONTHLY (RAND/METRIC)


                                                                                                                                                     South Africa
                                    Six                                                                        Underground production                                                                                  Surface production                               Total
                                    months            Tshepong                                                                                                                         Total              Central plant                                    Total        South        Hidden         Total
                                    ended            operations  Bambanani                 Joel       Doornkop         Target 1   Kusasalethu         Masimong       Unisel      Underground     Phoenix    reclamation          Dumps       Kalgold     Surface       Africa      Valley(1)      Harmony
Ore milled                - t'000   Dec-17                  897        122                  251            347              371           325              330          225            2 868       3 073          1 900          1 030           770       6 773        9 641           723        10 364
                                    Jun-17                  833        108                  246            324              361           284              309          177            2 642       3 337              -          1 337           753       5 427        8 069         1 656         9 725
                                    Dec-16                  862        123                  268            317              384           323              331          217            2 825       3 392              -          1 473           753       5 618        8 443         1 233         9 676
Yield                     - g/tonne Dec-17                 5.68      11.56                 3.62           4.74             4.22          6.91             4.56         3.18             5.26       0.125          0.128          0.423          0.79        0.25         1.74          1.12          1.72
                                    Jun-17                 5.05      11.76                 3.85           4.18             4.20          7.79             4.23         3.66             5.10       0.135              -          0.408          0.79        0.29         1.87          0.99          1.75
                                    Dec-16                 5.36      12.03                 4.84           4.16             3.00          6.75             3.72         4.37             5.04       0.138              -          0.346          0.81        0.28         1.87          1.15          1.78
Gold produced             - kg      Dec-17                5 093      1 410                  908          1 646            1 564         2 245            1 504          715           15 085         384            243            436           608       1 671       16 756           662        17 418
                                    Jun-17                4 210      1 270                  948          1 355            1 518         2 213            1 307          647           13 468         451              -            545           595       1 591       15 059         1 550        16 609
                                    Dec-16                4 618      1 480                1 298          1 318            1 151         2 181            1 231          948           14 225         467              -            510           610       1 587       15 812         1 415        17 227
Gold sold                 - kg      Dec-17                5 087      1 412                  936          1 570            1 580         2 200            1 502          715           15 002         388            247            437           572       1 644       16 646           551        17 197
                                    Jun-17                4 284      1 293                  967          1 388            1 518         2 367            1 332          660           13 809         471              -            573           632       1 676       15 485         1 742        17 227
                                    Dec-16                4 532      1 452                1 313          1 324            1 124         2 131            1 207          930           14 013         461              -            491           581       1 533       15 546         1 377        16 923
Gold price                - R/kg    Dec-17              581 912    582 493              580 839        585 845          580 493       581 545          580 936      580 827          581 958     550 634        583 619        579 410       586 521     575 725      581 343       543 805       580 672
received                            Jun-17              560 352    559 817              554 533        557 334          559 443       553 921          558 601      558 620          558 137     524 735              -        557 707       556 910     548 140      557 055       527 552       554 515
                                    Dec-16              587 221    587 059              588 313        588 388          584 472       592 875          586 513      587 737          588 029     575 362              -        589 053       590 523     585 493      587 779       563 456       585 908
Revenue                   (R'000)   Dec-17            2 960 184    822 480              543 665        919 777          917 179     1 279 398          872 566      415 291        8 730 540     213 646        144 154        253 202       335 490     946 492    9 677 032       164 773     9 841 805
                                    Jun-17            2 400 550    723 843              536 233        773 579          849 234     1 311 132          744 057      368 689        7 707 317     247 150              -        319 566       351 967     918 683    8 626 000       769 699     9 395 699
                                    Dec-16            2 661 287    852 409              772 455        779 026          656 946     1 263 416          707 921      546 595        8 240 055     265 242              -        289 225       343 094     897 561    9 137 616       730 239     9 867 855
Cash operating            (R'000)   Dec-17            1 970 594    452 451              464 715        687 247          674 980     1 049 926          591 135      437 507        6 328 555     163 428         93 354        174 170       275 605     706 557    7 035 112       104 184     7 139 296
cost                                Jun-17            1 796 867    424 456              443 772        625 800          686 961       981 641          551 023      413 248        5 923 768     176 988              -        229 629       233 040     639 657    6 563 425       551 190     7 114 615
                                    Dec-16            1 879 936    449 586              484 024        597 771          669 110     1 037 058          564 319      425 295        6 107 099     186 986              -        228 995       323 714     739 695    6 846 794       663 080     7 509 874
Inventory                 (R'000)   Dec-17                 (348)    (1 038)              15 302        (33 780)           8 792       (21 736)             234         (272)         (32 846)      1 171          3 024            122       (18 195)    (13 878)     (46 724)       37 694        (9 030)
movement                            Jun-17               31 806     11 118                2 012         15 600             (700)       77 760            8 439        7 751          153 786       8 812              -         13 718        22 207      44 737      198 523       104 336       302 859
                                    Dec-16              (36 833)   (14 363)               5 706          1 479          (10 405)      (15 981)         (10 793)      (8 491)         (89 681)       (745)             -         (5 127)      (14 799)    (20 671)    (110 352)       (5 140)     (115 492)
Operating costs           (R'000)   Dec-17            1 970 246    451 413              480 017        653 467          683 772     1 028 190          591 369      437 235        6 295 709     164 599         96 378        174 292       257 410     692 679    6 988 388       141 878     7 130 266
                                    Jun-17            1 828 673    435 574              445 784        641 400          686 261     1 059 401          559 462      420 999        6 077 554     185 800              -        243 347       255 247     684 394    6 761 948       655 526     7 417 474
                                    Dec-16            1 843 103    435 223              489 730        599 250          658 705     1 021 077          553 526      416 804        6 017 418     186 241              -        223 868       308 915     719 024    6 736 442       657 940     7 394 382
Production profit         (R'000)   Dec-17              989 938    371 067               63 648        266 310          233 407       251 208          281 197      (21 944)       2 434 831      49 047         47 776         78 910        78 080     253 813    2 688 644        22 895     2 711 539
                                    Jun-17              571 877    288 269               90 449        132 179          162 973       251 731          184 595      (52 310)       1 629 763      61 350              -         76 219        96 720     234 289    1 864 052       114 173     1 978 225
                                    Dec-16              818 184    417 186              282 725        179 776           (1 759)      242 339          154 395      129 791        2 222 637      79 001              -         65 357        34 179     178 537    2 401 174        72 299     2 473 473
Capital                   (R'000)   Dec-17              476 946     33 326              128 194        126 919          166 571       150 025           62 563       56 984        1 201 528       1 000          7 672              -        57 040      65 712    1 267 240     1 107 987     2 375 227
expenditure                         Jun-17              364 512     34 809              122 462        131 391          183 712       149 950           64 241       42 456        1 093 533       1 281         63 523          5 141        87 293     157 238    1 250 771       990 064     2 240 835
                                    Dec-16              351 627     41 950              120 041        111 258          139 987       138 900           54 919       35 408          994 090       3 848         92 581          1 604         8 280     106 313    1 100 403       344 470     1 444 873
Cash operating            - R/kg    Dec-17              386 922    320 887              511 801        417 526          431 573       467 673          393 042      611 898          419 526     425 594        384 173        399 472       453 298     422 835      419 856       393 147       419 440
costs                               Jun-17              426 809    334 217              468 114        461 845          452 543       443 579          421 594      638 714          439 840     392 435              -        421 338       391 664     402 047      435 847       435 036       435 784
                                    Dec-16              407 089    303 774              372 900        453 544          581 329       475 497          458 423      448 623          429 322     400 398              -        449 010       530 679     466 096      433 013       497 061       437 996
Cash operating            - R/tonne Dec-17                2 197      3 709                1 851          1 981            1 819         3 231            1 791        1 944            2 207          53             49            169           358         104          730           440           723
costs                               Jun-17                2 157      3 930                1 804          1 931            1 903         3 456            1 783        2 335            2 242          53              -            172           309         118          813           429           761
                                    Dec-16                2 181      3 655                1 806          1 886            1 742         3 211            1 705        1 960            2 162          55              -            155           430         132          811           580           783
Cash operating            - R/kg    Dec-17              480 569    344 523              652 983        494 633          538 076       534 499          434 640      691 596          499 177     428 198        415 745        399 472       547 113     462 160      495 485       423 804       494 369
cost and Capital(2)                 Jun-17              513 392    361 626              597 293        558 813          573 566       511 338          470 745      704 334          521 035     395 275              -        430 771       538 375     500 877      518 905       479 524       515 849
                                    Dec-16              483 231    332 119              465 381        537 958          702 951       539 183          503 037      485 974          499 205     408 638              -        452 155       544 252     533 086      502 605       526 223       504 443
All-in sustaining         - R/kg    Dec-17              483 982    359 282              590 571        510 253          539 615       550 625          450 373      691 636          503 809     426 802        405 814        398 838       565 847     464 593      499 900       519 338       500 248
cost                                Jun-17              523 898    384 254              545 866        560 074          592 687       526 666          486 166      721 579          529 842     397 200              -        433 661       556 134     469 598      522 905       522 030       522 830
                                    Dec-16              491 743    332 778              427 123        565 877          731 710       557 443          517 240      499 891          508 197     412 332              -        459 209       561 556     483 901      505 795       567 012       510 506
Operating free            %         Dec-17                   17         41                   (9)            11                8             6               25          (19)              14          23             30             31             -          18           14          (757)            1
cash flow margin(3)                 Jun-17                   10         37                   (6)             2               (3)           14               17          (24)               9          28           (100)            27            10          13            9           (91)            1
                                    Dec-16                   16         42                   22              9              (23)            7               13           16               14          28           (100)            20             3           5           13           (19)           11

(1) Ore milled for Hidden Valley includes 486 000 tonnes (Jun-17: 371 000t. Dec-16: 90 000t) that has been capitalised as part of pre-stripping of stages 5 & 6.
    Production for Hidden Valley includes gold produced (397kgs. Jun-17: 283kgs. Dec-16: 81kgs) and sold (248kgs. Jun-17: 283kgs. Dec-16: 81kgs)
    that has been capitalised.
(2) Excludes investment capital for Hidden Valley.
(3) Excludes run of mine costs for Kalgold (Dec-17:-R4.333m. Jun-17:R2.034m. Dec-16:-R2.288m) and Hidden Valley (Dec-17:R10.016m. Jun-17:R71.625m.
    Dec-16:R140.794m).


CONDENSED CONSOLIDATED INCOME STATEMENTS (RAND)

                                                                                             Six months ended            Year ended
                                                                                       31 December      31 December         30 June
                                                                                              2017             2016            2017
Figures in million                                                           Notes       (Reviewed)       (Reviewed)       (Audited)


Revenue                                                                                      9 842            9 868          19 264
Cost of sales                                                                    2          (8 805)          (9 066)        (19 639)
  Production costs                                                                          (7 130)          (7 394)        (14 812)
  Impairment of assets                                                                        (116)               -          (1 718)
  Amortisation and depreciation                                                             (1 253)          (1 274)         (2 519)
  Other expenses - net                                                                        (306)            (398)           (590)

Gross profit/(loss)                                                                          1 037              802            (375)
Corporate, administration and other expenditure                                               (303)            (226)           (517)
Exploration expenditure                                                                        (81)            (144)           (241)
Gains on derivatives                                                                           337              594           1 025
Other operating income/(expenses)                                                3             208              140            (886)

Operating profit/(loss)                                                                      1 198            1 166            (994)
Gain on bargain purchase                                                                         -              848             848
Acquisition related costs                                                        6             (44)               -               -
Loss on liquidation of subsidiaries                                                              -                -             (14)
Profit/(loss) from associates                                                                   33              (13)            (22)
Investment income                                                                              226              140             268
Finance costs                                                                                 (157)            (128)           (234)

Profit/(loss) before taxation                                                                1 256            2 013            (148)
Taxation                                                                         4            (359)            (474)            510
  Current taxation                                                                            (335)            (363)           (488)
  Deferred taxation                                                                            (24)            (111)            998
 
Net profit for the period                                                                      897            1 539             362

Attributable to:
Owners of the parent                                                                           897            1 539             362

Earnings per ordinary share (cents)                                              5
Basic earnings                                                                                 203              352              82
Diluted earnings                                                                               197              333              79

The accompanying notes are an integral part of these condensed consolidated financial statements.


The condensed consolidated financial statements for the six months ended 31 December 2017 have been prepared by Harmony Gold
Mining Company Limited's corporate reporting team headed by Boipelo Lekubo CA(SA). This process was supervised by the financial
director, Frank Abbott CA(SA) and approved by the board of Harmony Gold Mining Company Limited on 13 February 2018. These
condensed consolidated financials have been reviewed by the group's external auditors, PricewaterhouseCoopers Incorporated (see
note 18).


CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (RAND)

                                                                                     Six months ended       Year ended
                                                                                 31 December  31 December      30 June
                                                                                        2017         2016         2017
Figures in million                                                                 (Reviewed)   (Reviewed)    (Audited)

Net profit for the period                                                                897        1 539          362
Other comprehensive income/(loss) for the period, net of                                (475)       1 076          818
Items that may be reclassified subsequently to profit or loss:                          (475)       1 076          821
     Foreign exchange translation loss                                                  (400)        (190)        (322)
     Remeasurement of rand gold hedging contracts
       Deferred gain/(loss) on gold hedging contracts                                    (96)       1 591        1 428
       Deferred taxation thereon                                                          21         (325)        (285)
Items that will not be reclassified to profit or loss:                                     -            -          (3)
   Remeasurement of retirement benefit obligation
    Actuarial loss recognised during the period                                            -            -          (1)
    Deferred taxation thereon                                                              -            -          (2)

Total comprehensive income for the period                                                422        2 615        1 180

Attributable to:
Owners of the parent                                                                     422        2 615        1 180

The accompanying notes are an integral part of these condensed consolidated financial statements.


CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (RAND)
for the six months ended 31 December 2017 (Reviewed)



                                                                                       Other   Accumulated
Figures in million                                             Share capital        reserves          loss         Total

Balance - 30 June 2017                                                28 336           5 441        (4 486)       29 291
Share-based payments                                                       1             190             -           191
Net profit for the year                                                    -               -           897           897
Other comprehensive loss for the year                                      -            (475)            -          (475)
Dividends paid(1)                                                          -               -          (154)         (154)
Balance - 31 December 2017                                            28 337           5 156        (3 743)       29 750

Balance - 30 June 2016                                                28 336           4 252        (4 409)       28 179
Share-based payments                                                       -             182             -           182
Net profit for the period                                                  -               -         1 539         1 539
Other comprehensive income for the period                                  -           1 076             -         1 076
Dividends paid(2)                                                          -               -          (218)         (218)
Balance - 31 December 2016                                            28 336           5 510        (3 088)       30 758

(1) Dividend of 35 SA cents declared on 15 August 2017.
(2) Dividend of 50 SA cents declared on 15 August 2016.


The accompanying notes are an integral part of these condensed consolidated financial statements.


CONDENSED CONSOLIDATED BALANCE SHEETS (RAND)

                                                                                          At             At              At
                                                                                 31 December        30 June     31 December
                                                                                        2017           2017            2016
Figures in million                                                     Notes       (Reviewed)      (Audited)      (Reviewed)

ASSETS
Non-current assets

Property, plant and equipment                                                         30 954         30 044          30 639
Intangible assets                                                                        600            603             863
Restricted cash                                                                           70             64              58
Restricted investments                                                                 2 822          2 658           2 584
Investments in associates                                                                 79             46               -
Investments in financial assets                                                            5              4               5
Inventories                                                                               38             38              37
Trade and other receivables                                                              240            185             185
Derivative financial assets                                                 7            258            306             645
Total non-current assets                                                              35 066         33 948          35 016

Current assets

Inventories                                                                 8          1 370          1 127           1 616
Restricted cash                                                                           36             18              17
Trade and other receivables                                                              993          1 003             820
Derivative financial assets                                                 7          1 595          1 541           1 514
Cash and cash equivalents                                                              1 055          1 246           1 215
Total current assets                                                                   5 049          4 935           5 182
Total assets                                                                          40 115         38 883          40 198

EQUITY AND LIABILITIES
Share capital and reserves

Share capital                                                                         28 337         28 336          28 336
Other reserves                                                                         5 156          5 441           5 510
Accumulated loss                                                                      (3 743)        (4 486)         (3 088)
Total equity                                                                          29 750         29 291          30 758

Non-current liabilities

Deferred tax liabilities                                                    4          1 704          1 702           2 849
Provision for environmental rehabilitation                                             2 661          2 638           2 721
Provision for silicosis settlement                                          9            953            917               -
Retirement benefit obligation                                                            183            179             173
Borrowings                                                                 10          2 566            299           1 504
Derivative financial liabilities                                            7              5              -               -
Trade and other payables                                                                   9             13              17
Total non-current liabilities                                                          8 081          5 748           7 264


Current liabilities

Borrowings                                                                 10              -          1 834               -
Derivative financial liabilites                                             7             26              -               -
Trade and other payables                                                               2 258          2 010           2 176
Total current liabilities                                                              2 284          3 844           2 176
Total equity and liabilities                                                          40 115         38 883          40 198


The accompanying notes are an integral part of these condensed consolidated financial statements.


CONDENSED CONSOLIDATED CASH FLOW STATEMENTS
(RAND)
                                                                                                                                  Six months ended                      Year ended
                                                                                                                          31 December           31 December                30 June
                                                                                                                                 2017                  2016                   2017
                                                                                                                            (Reviewed)            (Reviewed)              (Audited)
Figures in million                                                                                      Notes                                     (Restated)*


Cash flow from operating activities
Cash generated by operations                                                                                                    2 044                 2 241                  4 346
Interest received                                                                                                                  44                    40                     75
Interest paid                                                                                                                     (60)                  (35)                   (79)
Income and mining taxes paid                                                                                                     (196)                 (332)                  (538)
Cash generated by operating activities                                                                                          1 832                 1 914                  3 804

Cash flow from investing activities
(Increase)/Decrease in restricted cash                                                                                            (22)                    4                     (1)
Decrease in amounts invested in restricted investments                                                                              2                     3                      7
Cash on acquisition of Hidden Valley                                                                                                -                   459                    459
Proceeds from disposal of property, plant and equipment                                                                             1                    39                     42
Additions to property, plant and equipment                                                                    12               (2 565)               (1 473)                (3 890)
Cash utilised by investing activities                                                                                          (2 584)                 (968)                (3 383)

Cash flow from financing activities
Borrowings raised                                                                                             10                2 856                     -                    699
Borrowings repaid                                                                                             10               (2 147)                 (710)                  (710)
Dividends paid                                                                                                                   (154)                 (218)                  (439)
Cash generated/(utilised) by financing activities                                                                                 555                  (928)                  (450)
Foreign currency translation adjustments                                                                                            6                   (59)                    19
Net decrease in cash and cash equivalents                                                                                        (191)                  (41)                   (10)
Cash and cash equivalents - beginning of year                                                                                   1 246                 1 256                  1 256
Cash and cash equivalents - end of year                                                                                         1 055                 1 215                  1 246

* Cash generated by operations has been decreased by R39 million and interest paid decreased by R39 million from the original amounts published on 2 February 2017 of
R2 280 million and R74 million respectively. This restatement Is due to the incorrect accrual amount being reversed at the beginning of the year as a non-cash adjustment against
interest paid, overstating the interest paid and cash generated by operations for the six months ended 31 December 2016. The net effect on cash generated by operating activities is
zero and there was no other impact on the cash flow statement.


The accompanying notes are an integral part of these condensed consolidated financial statements.


NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL
STATEMENTS
for the six months ended 31 December 2017 (Rand)

1 Accounting policies

  Basis of accounting

  The condensed consolidated interim financial statements are prepared in accordance with International Financial Reporting
  Standards, IAS 34 Interim Financial Reporting , the SAICA Financial Reporting Guides as issued by the Accounting Practices
  Committee and Financial Pronouncements as issued by the Financial Reporting Standards Council and the requirements of the
  Companies Act of South Africa. The accounting policies applied in the preparation of these interim financial statements are in terms
  of International Financial Reporting Standards (IFRS) and are consistent with those applied in the previous consolidated annual
  financial statements.

  The amendment to IAS 7, Statement of Cash Flows has been adopted with effect 1 July 2017 and had no impact on the results of
  the group (other than disclosure within the full financial statements) in the current period.

  As of 1 July 2018, IFRS 9 Financial Instruments and IFRS 15 Revenue from Contracts with Customers will become effective for the
  group. The impact of these two standards are discussed below.

  Impact of the adoption of IFRS 9 - Financial Instruments

  The group has performed a preliminary assessment of the potential impact of the adoption of IFRS 9 based on its position at
  31 December 2017, which is subject to changes arising from further detailed analyses or additional reasonable and supportable
  information being made available to the group in the future.

  Recognition and measurement

  Overall, the group does not expect that the new guidance, if applied at 31 December 2017, would have had a significant impact on
  its balance sheet.

  The group expects to continue measuring environmental rehabilitation obligation funds at fair value. Financial assets and trade and
  other receivables are held to collect contractual cash flows and have contractual cash flows that are solely payments of principal and
  interest. The group therefore expects that these will continue to be measured at amortised cost under IFRS 9. The group however
  will analyse the contractual cash flow characteristics of those instruments in more detail before concluding whether all those
  instruments meet the criteria for amortised cost measurement under IFRS 9. Investments in financial assets that are classified as
  held-to-maturity investments are expected to be classified under fair value through other comprehensive income and derivative
  financial assets will continue to be measured at fair value through profit and loss.

  Financial liabilities

  There will be no impact on the group's accounting for financial liabilities as the new requirements only affect those that are
  designated at fair value through profit or loss and the group's financial liabilities are all measured at amortised cost.

  Impairment

  IFRS 9 requires the group to record expected credit losses on all of its loans and trade receivables, either on a 12-month or lifetime
  basis. The group expects to apply the simplified approach and record lifetime expected losses on all trade receivables. The group is
  assessing the extent of this impact, but, in general, expects that the application of the expected credit loss model will result in earlier
  recognition of credit losses.

  Hedge accounting

  Hedge accounting in terms of IAS 39 is applied to Rand gold forward contracts entered into by the group as these contracts have
  been designated as cash flow hedging instruments. The effective portion of the unrealised gains and losses is recognised in other
  comprehensive income (other reserves). The gain or loss relating to the ineffective portion is recognised immediately in profit or loss
  within gains/losses on derivatives. The group intends to adopt IFRS 9 which is not expected to have a material impact on the hedge
  accounting for the group.

  Disclosure

  The new standard also introduces expanded disclosure requirements and changes in presentation. These are expected to change
  the nature and extent of the group's disclosures about its financial instruments particularly in the year of the adoption of the new
  standard. More granular credit risk and impairment disclosures will be required.

  Impact of the adoption of IFRS 15 - Revenue from Contracts with Customers

  Management has assessed the potential impact of IFRS 15 on the financial statements of the group and concluded that the group
  does not sell product based on multiple-element arrangements and it does not sell product on a provisional or variable pricing basis
  and as such the new standard is not expected to have a significant impact on the timing or amount of the group's revenue
  recognition.

  The adoption of IFRS 15 will result in the recognition of by-product revenue in "revenue from product sales". Revenue from product
  sales includes gold income and by-product revenue. This change in classification results in a consequential increase in costs of
  sales, and therefore will not have an impact on previously reported gross profit or loss.

  Harmony intends to apply IFRS 15 retrospectively to each prior reporting period presented in accordance with IAS 8 Accounting
  Policies, Changes in Accounting Estimates and Errors.


  If IFRS 15 was retrospectively applied from 1 July 2017 to the earliest comparative period, it would have the following impact on
  revenue and cost of sales:

                                                                                                    Six months ended          Year ended
                                                                                               31 December    31 December        30 June
   Figures in million                                                                                 2017           2016           2017
   Revenue                                                                                           9 842          9 868         19 264
   By-product revenue                                                                                   33            133            230
   Revenue (restated)                                                                                9 875         10 001         19 494
   % Change                                                                                           0.3%             1%             1%

   Cost of sales                                                                                     8 805          9 066         19 639
   By-product revenue                                                                                   33            133            230
   Cost of sales (restated)                                                                          8 838          9 199         19 869
   % Change                                                                                           0.4%             1%             1%


2 Cost of sales

                                                                                                    Six months ended          Year ended
                                                                                               31 December    31 December        30 June
                                                                                                      2017           2016           2017
   Figures in million                                                                            (Reviewed)     (Reviewed)      (Audited)
   Production costs - excluding royalty (a)                                                          7 039          7 246         14 597
   Royalty expense                                                                                      91            148            215
   Amortisation and depreciation                                                                     1 253          1 274          2 519
   Impairment of assets (b)                                                                            116              -          1 718
   Rehabilitation expenditure                                                                           47             82             23
   Care and maintenance cost of restructured shafts                                                     60             57            109
   Employment termination and restructuring costs (c)                                                   92             61             74
   Share-based payments                                                                                123            201            391
   Other                                                                                               (16)            (3)            (7)
   Total cost of sales                                                                               8 805          9 066         19 639

   (a) Production costs for the six months ended 31 December 2017 were lower than the comparative period as Hidden Valley was
       developing stage 5 and 6 with the resultant costs capitalised.

   (b) At 31 December 2017, management assessed the potential triggers for impairment. All key assumptions disclosed remained the
       same as at 30 June 2017, with the exception of the discount rates on the South African operations. Post-tax discount rates for
       the South African operations ranged between 9.29% and 12.13% (2017: 8.98% and 11.81%). The impairment for the six months
       ended 31 December 2017 is related to Unisel, where production performance negatively impacted on the recoverable amount.
       Also contributing to the impairment is the increase in the carrying value, as a result of the decrease in the deferred tax balance
       set off against the asset value. The recoverable amount of R399 million was determined on a fair value less cost to sell basis.
       This is a fair value measurement classified as level 3. The impairment test on the other South African operations did not result in
       any impairments or reversals.

      Sensitivity Analysis

      One of the most significant assumptions that influence the life-of-mine plan and therefore the impairments is the expected
      commodity prices. A 10% decrease in the commodity price used in the cash flow models and the resource values used (with all
      other variables held constant) would have resulted in additional impairments as follows:

      Figures in million
      Unisel                                                                                                                           187
      Bambanani                                                                                                                        211
      Kusasalethu                                                                                                                    1 722
      Tshepong Operations                                                                                                            4 405

       The sensitivities of the other operations to this change has not changed significantly from the disclosure at 30 June 2017.

       The impairment of the long-lived assets for the year ended 30 June 2017 consist of: Kusasalethu (R678 million), Tshepong
       operations (R255 million) and Target 1 (R785 million). There were no reversals recognised in 2017.

   (c) The costs for the six months ended 31 December 2017 relate to a retrenchment programme that started in July 2017. The
       R61 million recorded for the six months ended 31 December 2016 relates to consulting and contractor fees resulting from the
       acquisition of Newcrest's 50% interest in the Hidden Valley operation.


3 Other operating income/(expenses)

                                                                                                                 Six months ended            Year ended
                                                                                                          31 December      31 December          30 June
                                                                                                                 2017             2016             2017
   Figures in million                                                                                       (Reviewed)       (Reviewed)        (Audited)
   Social investment expenditure                                                                                  (26)             (27)             (74)
   Profit on sale of property, plant and equipment                                                                  -               42               42
   Loss on scrapping of property, plant and equipment                                                               -                -             (140)
   Foreign exchange translation (refer to note 10)                                                                177              119              194
   Silicosis settlement provision                                                                                   -                -             (917)
   Reversal of provision/(provision) for ARM BEE loan(1)                                                           40                -              (13)
   Other                                                                                                           17                6               22
   Total other operating income/(expenses)                                                                        208              140             (886)

   (1)  The provision was reversed following an increase in African Rainbow Minerals Limited's share price and dividends paid in the period between July 2017
        and December 2017, which form part of the recoverability test at 31 December 2017.


4 Taxation

   The lower deferred tax expense in the December 2017 six months relates primarily to decreased tax rates compared to the
   December 2016 six months. Deferred tax rates decreased for Freegold from 20% to 12.5% and Randfontein (comprising Doornkop
   and Kusasalethu) from 10.1% to 3.8% following the annual reassessment of the rates. The decrease was due to a reduction in the
   profitability of the operations per their life-of-mine plans used as a base for the rate calculation at 30 June 2017.


5 Earnings per ordinary share

                                                                                                       Six months ended            Year ended
                                                                                                31 December     31 December           30 June
                                                                                                       2017            2016              2017
   Figures in million                                                                             (Reviewed)      (Reviewed)         (Audited)
   Weighted average number of shares (million)                                                          441             437               438
   Weighted average number of diluted shares (million)                                                  454             462               459

   Total earnings per share (cents):

   Basic earnings                                                                                       203             352                82
   Diluted earnings                                                                                     197             333                79
   Headline earnings                                                                                    224             150               298
   Diluted headline earnings                                                                            218             142               284

   Reconciliation of headline earnings:

   Net profit                                                                                           897           1 539               362
   Adjusted for:
   Gain on bargain purchase(1)                                                                            -            (848)             (848)
   Loss on liquidation of subsidiary(1)                                                                   -               -                14
   Impairment of assets                                                                                 116               -             1 718
   Taxation effect on impairment of assets                                                              (22)              -               (26)
   Profit on sale of property, plant and equipment                                                       (1)            (43)              (42)
   Taxation effect on profit on sale of property, plant and equipment                                     -               9                 7
   Loss on scrapping of property, plant and equipment                                                     -               -               140
   Taxation effect on loss on scrapping of property, plant and equipment                                  -               -               (19)
   Headline earnings                                                                                    990             657             1 306
  
   (1) There is no taxation effect on this item.


6 Acquisition of Moab Khotsong

   On 19 October 2017, Harmony announced that it would acquire AngloGold Ashanti Limited's Moab Khotsong and Great Noligwa
   mines together with other assets and related infrastructure for a cash consideration of the Rand equivalent of US$300 million. The
   transaction is subject to approval from Harmony's shareholders and other conditions precedent, including regulatory approvals. The
   Board of Harmony has unanimously approved the transaction and has resolved to recommend the transaction to its shareholders.
   The transaction was approved by shareholders on 1 February 2018.

   US$100 million of the consideration will be settled from Harmony's existing US$350 million syndicated loan facility. The remaining
   US$200 million will be funded through a fully underwritten US$200 million bridge facility, which has a 12-month term with similar
   terms and covenants as the existing loan facilities. The mandated bridge providers are UBS Limited, Nedbank Limited, Absa Bank
   Limited and JP Morgan Securities plc. Up to US$100 million of the bridge facility is expected to be financed from internal cash
   resources and debt facilities and approximately $100 million is expected to be refinanced through a private share placement or a
   rights issue.

   The assets and liabilities will be acquired by a wholly-owned subsidiary of Harmony. When all conditions precedent have been met,
   Harmony will apply the principles of IFRS 3, Business Combinations, and the process of a purchase price allocation of the assets
   acquired and liabilities assumed will commence.

   The acquisition-related costs relate to advisory services provided as part of the acquisition.


7 Derivative financial assets/liabilities

                                                                                                         At         At           At
                                                                                                31 December    30 June  31 December
                                                                                                       2017       2017         2016
   Figures in million                                                                             (Reviewed)  (Audited)   (Reviewed)
   Non-current                                                                                          253        306          645
   Rand gold forward sale contracts (a)                                                                 258        298          645
   US$ commodity contracts (b)                                                                           (5)         8            -
   Current                                                                                            1 569      1 541        1 514
   Rand gold forward sale contracts (a)                                                               1 032      1 080          946
   US$ commodity contracts - net (b)                                                                    (21)        12            -
   Foreign exchange hedging contracts (c)                                                               558        449          568
   Total derivative financial assets                                                                  1 822      1 847        2 159

   (a) Harmony has entered into rand gold forward sale derivative contracts to hedge the risk of lower rand/gold prices. Cash flow
       hedge accounting is applied to these contracts, resulting in the effective portion of the unrealised gains and losses being
       recorded in other comprehensive income (other reserves). During the six months ended 31 December 2017, the contracts that
       matured realised a gain of R503 million (June 2017: R744 million; December 2016: R233 million), of which R503 million
       (June 2017: R728 million; December 2016: R233 million) has been included in revenue and the ineffective portion of Rnil
       (June 2017: R16 million) in gains on derivatives. The unamortised portion of the day one gain or loss amounted to R24 million on
       31 December 2017.

   (b) During May 2017, Harmony began a hedging programme for Hidden Valley by entering into commodity hedging contracts. The
       contracts comprise US$ gold forward sale derivative contracts as well as silver zero cost collars which establish a minimum
       (floor) and maximum (cap) silver sales price. Hedge accounting is not applied and the resulting gains and losses are recorded in
       gains on derivatives in the income statement. The loss amounted to R43 million (June 2017: R20 million gain).

   (c) Harmony has entered into foreign exchange hedging contracts (forex hedging contracts) in the form of zero cost collars, which
       establish a floor and cap US$/Rand exchange rate at which to convert US dollars to Rands. As hedge accounting is not applied,
       the resulting gains and losses have been recorded in gains on derivatives in the income statement. These gains amounted to
       R403 million (June 2017: R1 082 million) (December 2016: R594 million).

      The following table shows the open position at the reporting date:

                                   FY18                               FY19                                  FY20                   TOTAL
                              Q3          Q4          Q1          Q2           Q3       Q4             Q1             Q2

      US$ZAR
      US$m                   120         111          94          38                                                                 363
      Floor                14.02       14.01       14.09       14.57                                                               14.10
      Cap                  15.03       15.02       15.09       15.62                                                               15.10

      R/gold
      '000 oz                 54          54          54          51           51       24             24              17            329
      R'000/kg               713         728         697         621          633      631            642             674            672
 
      US$/gold
      '000 oz                 17          24          24          24           12       12                                           113
      US$/oz               1 279       1 284       1 288       1 291        1 312    1 315                                         1 292

      Total gold
      '000 oz                 71          78          78          75           63       36             24              17            442

      US$/silver
      '000 oz                180         210         240         240                                                                 870
      Floor                17.10       17.10       17.10       17.10                                                               17.10
      Cap                  18.10       18.10       18.10       18.10                                                               18.10

      Refer to note 11 for details on the fair value measurements.


8 Inventories

   Hidden Valley's run-of-mine stockpile increased from R41 million in June 2017 to R162 million in December 2017. This is due to the
   increase in development stripping and the temporary planned shutdown during the December 2017 period.


9 Provision for silicosis settlement

   Harmony and certain of its subsidiaries (Harmony group), together with other mining companies, are named in a class action for
   silicosis and tuberculosis which was certified by the Johannesburg High Court in May 2016. The companies requested leave to
   appeal to the Supreme Court of Appeal (SCA), which was granted on 13 September 2016 and was scheduled to be heard from
   19 - 23 March 2018.

   A gold mining industry working group consisting of African Rainbow Minerals Limited, Anglo American South Africa Limited,
   AngloGold Ashanti Limited, Gold Fields Limited, Sibanye-Stillwater and Harmony (collectively the working group) was formed in
   November 2014 to address issues relating to the compensation and medical care for occupational lung diseases in the gold mining
   industry in South Africa. Essentially, the companies are seeking a comprehensive and sustainable solution which deals with both the
   legacy compensation issues and future legal frameworks which, while being fair to employees, also ensures the future sustainability
   of companies in the industry. The working group has engaged all stakeholders on these matters, including government, organised
   labour, other mining companies and legal representatives of claimants who have filed legal suits against the companies. The
   working group believes that achieving a comprehensive settlement which is fair to past, present and future employees and
   sustainable for the sector is preferable to protracted litigation.

   At 30 June 2017, management had estimated Harmony's share of a possible settlement of the class action claims and related costs
   as R917 million (pre-tax) which was recognised in the 2017 year. The time value of money recognised for the six months ended
   31 December 2017 was R36 million. There were no changes to the assumptions applied on the initial recognition of the provision.

   The working group, as well as the claimants' attorneys, have subsequently requested the SCA to postpone the hearing of
   19 - 23 March 2018, given the advanced stage at which negotiations for a settlement are at, which was granted.

   The ultimate outcome of these matters remains uncertain, with a possible failure to reach a settlement or to obtain the requisite court
   approval of the settlement. The provision recorded in the financial statements is consequently subject to adjustment or reversal in
   the future, depending on the progress of the working group discussions and stakeholder consultations, and the ongoing legal
   proceedings.


10 Borrowings

   During the six months ended 31 December 2017:

    - R300 million was repaid on the R1.0 billion Nedbank revolving credit facility (RCF) in September 2017.

    - US$140 million (R1 847 million) was repaid on the existing US$ RCF in August 2017. On 28 July 2017, Harmony concluded an
      agreement for a new three-year syndicated facility of US$350 million (US$175 million term loan plus US$175 million RCF). The
      facility was negotiated on similar terms to the previous facility. US$175 million (R2 309 million) was drawn down on the term loan
      in August 2017. US$40 million (R547 million) was drawn down on the RCF during November 2017.

                                                                                                 US$ term         US$ RCF  Rand facility
   Figures in million                                                                           US dollar       US dollar        SA rand
   Borrowings summary at 31 December 2017
   Facility                                                                                           175             175          1 000
   Drawn down                                                                                         175              40              -
   Undrawn committed borrowing facilities                                                               -             135          1 000
   Maturity                                                                                          July            July       February
                                                                                                     2020            2020           2020
   Interest rate                                                                                  LIBOR +         LIBOR +        JIBAR +
                                                                                                    3.15%           3.00%          3.15%

   The foreign exchange translation movements on the US$ loan are as follows:

                                                                                                    Six months ended          Year ended
                                                                                               31 December    31 December        30 June
                                                                                                      2017           2016           2017
   Figures in million                                                                            (Reviewed)     (Reviewed)      (Audited)
   Translation gain on US$ revolving credit facility                                                   196            134            215

   Rand/US$ exchange rate:
   Closing/spot                                                                                      12.32          13.79          13.11
   Average                                                                                           13.40          13.37          13.60


11 Financial risk management activities

   Foreign exchange risk

   Harmony's revenues are sensitive to the R/US$ exchange rate as all revenues are generated by gold sales denominated in US$.
   During 2016 Harmony started a foreign currency hedging programme in order to manage the foreign exchange risk. The limit
   currently set by the Board is $500 million, which amounts to approximately 35% of the group's foreign exchange risk exposure. Refer
   to note 7 for the details of the contracts. The audit and risk committee reviews the details of the programme quarterly.

   Commodity price sensitivity

   The profitability of the group's operations, and the cash flows generated by those operations, are affected by changes in the market
   price of gold, and in the case of Hidden Valley, silver as well. Harmony entered into derivative contracts to manage the variability in
   cash flows from the group's production, in order to create cash certainty and protect the group against lower commodity prices. The
   limits currently set by the Board are for 20% of the production from gold and 25% from silver over a 24-month period. Management
   continues to top-up these programmes as and when opportunities arise to lock in attractive margins for the business, but are not
   required to maintain hedging at these levels. The audit and risk committee reviews the details of the programme quarterly.
   Refer to note 7 and the fair value determination section below for further detail on these contracts.

   Credit risk

   In April 2017, two of the three international rating agencies, Standard and Poor's and Fitch, downgraded South Africa's long-term
   sovereign credit rating due to increased perception of political risk and the risk of policy shifts that could undermine fiscal and
   economic growth in South Africa. Fitch downgraded the national and foreign currency rating to sub-investment grade whereas
   Standard and Poor's only downgraded the foreign currency rating to sub-investment grade and downgraded the national currency
   rating by one notch which is still investment grade. Moody's has kept the sovereign credit risk of South Africa as investment grade.
   This has led to the downgrade of various financial and parastatal institutions and companies in South Africa. This was largely limited
   to international scale ratings, not the national scale ratings. The group has identified the following risks as a result of this downgrade,
   which are:

   (i) Increased credit risk;
   (ii) Increased cost of capital; and
   (iii) Difficulty in obtaining funding.

   In assessing the credit worthiness of local institutions, management uses the national scale long-term ratings which are unchanged.
   Management will continue monitoring these ratings.

   Fair value determination

   The fair value levels of hierarchy are as follows:

   Level 1:     Quoted prices (unadjusted) in active markets for identical assets;
   Level 2:     Inputs other than quoted prices included within level 1 that are observable for the asset, either directly or indirectly (that
                is, as prices) or indirectly (that is derived from prices);
   Level 3:     Inputs for the asset that are not based on observable market data (that is unobservable inputs).

   The following table presents the group's assets and liabilities that are measured at fair value at reporting date:

                                                                                                      Fair               At                At                At
                                                                                                     value      31 December           30 June       31 December
                                                                                                 hierarchy             2017              2017              2016
                                                                                                     level        (Reviewed)         (Audited)        (Reviewed)
   Available-for-sale financial assets
   Investment in financial assets(1)                                                               Level 3                5                 4                 5
   Fair value through profit or loss financial assets
   Restricted investments(2)                                                                       Level 2              893               839               643
   Derivative financial instruments - net(3)                                                       Level 2            1 822             1 847             2 159
   
   (1) Level 3 fair values have been valued by the directors by performing independent valuations on an annual basis.
   (2) The majority of the level 2 fair values are directly derived from the Top 40 index on the JSE, and are discounted at market interest rate. This relates to
       equity-linked deposits in the group's environmental rehabilitation trust funds. The balance of the environmental trust funds are held to maturity and
       therefore not disclosed here.
   (3) The mark-to market remeasurement of the following contracts is derived from:
       - Forex hedging contracts (zero cost collars): a Black-Scholes valuation technique, derived from spot rand/US$ exchange rate inputs, implied
         volatilities on the rand/US$ exchange rate, rand/US$ inter-bank interest rates and discounted at market interest rate (zero-coupon interest rate curve).
       - Rand gold hedging contracts (forward sale contracts): spot Rand/US$ exchange rate, Rand and dollar interest rates (forward points), spot US$
         gold price, differential between the US interest rate and gold lease interest rate which is discounted at market interest rate.
       - US$ gold hedging contracts (forward sale contracts): spot US$ gold price, differential between the US interest rate and gold lease interest rate and
         discounted at market interest rate.
       - Silver hedging contracts (zero cost collars): a Black-Scholes valuation technique, derived from spot US$ silver price, strike price, implied volatilities,
         time to maturity and interest rates and discounted at market interest rate.

   For all other financial instruments, fair value approximates carrying value.


12 Net additions to property, plant and equipment

                                                                                                                      Six months ended              Year ended
                                                                                                               31 December       31 December           30 June
                                                                                                                      2017              2016              2017
   Figures in million                                                                                            (Reviewed)        (Reviewed)         (Audited)
   Capital expenditure - operations                                                                                  1 214             1 136             2 354
   Additions resulting from development at Hidden Valley(1)                                                          1 108               226             1 335
   Capital and capitalised exploration and evaluation expenditure for Golpu                                            187               116               197
   Additions resulting from stripping activities                                                                        53                 -                77
   Other(2)                                                                                                              3               (44)              (39)
   Net additions                                                                                                     2 565             1 434             3 924

   (1) December 2017 includes capitalised revenue of R159 million.
   (2) Includes sale of Ernest Oppenheimer Hospital in the six months ended 31 December 2016.


13 Commitments and contingencies
`
                                                                                                                        At                At                At
                                                                                                               31 December           30 June       31 December
                                                                                                                      2017              2017              2016
   Figures in million                                                                                            (Reviewed)         (Audited)        (Reviewed)
   Capital expenditure commitments:
   Contracts for capital expenditure                                                                                   459               369               311
   Authorised by the directors but not contracted for                                                                1 880               789             1 298
                                                                                                                     2 339             1 158             1 609
   This expenditure will be financed from existing resources and, where appropriate, borrowings.

   Contingent liabilities

   For a detailed disclosure on contingent liabilities refer to Harmony's annual financial statements for the financial year ended
   30 June 2017.


14 Related parties

   Key management personnel are those persons having authority and responsibility for planning, directing and controlling the activities
   of the group, directly or indirectly, including any director (whether executive or otherwise) of the group.

   Movement in shares owned by directors/prescribed officers for six months ended 31 December 2017:

                                                                                                                            Shares        Shares sold  Performance
                                                                                                                      purchased in            in open       shares
                                                                                                                       open market             market   vested and
                                                                                                                                                          retained
   Name of director/prescribed officer
   Frank Abbott (Financial director)(1)                                                                                         -                  -       141 075
   Beyers Nel (Chief Operating Officer: SA)(1)                                                                                  -                  -        24 933
   Phillip Tobias (Chief Operating Officer: new business)(1)                                                                    -                  -        31 166
   Johannes van Heerden (Chief Executive Officer: South-east Asia)                                                              -                  -        50 000

   (1) These shares have been voluntarily locked-up in terms of the minimum shareholding requirement of the 2006 Share Plan but remains beneficially
       owned.


15 Segment report

   As of 1 July 2017, Tshepong and Phakisa, previously two separate segments have been integrated. As a result, they now form one
   segment, Tshepong operations, and the results for the 2017 year have been re-presented for this change. The shafts have been
   integrated to take advantage of their close proximity, which allows for existing infrastructure to be optimised. From this date, the chief
   operating decision-maker has reviewed the single segment information.

   The segment report follows below.


16 Reconciliation of segment information to condensed consolidated income statements and balance sheets

   The "Reconciliation of segment information to condensed consolidated financial statements" line item in the segment report is
   broken down in the following elements, to give a better understanding of the differences between the financial statements and
   segment report.

                                                                                                                                           Six months ended
                                                                                                                                     31 December      31 December
   Figures in million                                                                                                                       2017             2016
                                                                                                                                      (Reviewed)        (Reviewed)

   Reconciliation of production profit to gross profit

   Total segment revenue                                                                                                                  9 842             9 868
   Total segment production costs                                                                                                        (7 130)           (7 394)
   Production profit per segment report                                                                                                   2 712             2 474
   Impairment of assets                                                                                                                    (116)                -
   Amortisation and depreciation                                                                                                         (1 253)           (1 274)
   Other expenses - net                                                                                                                    (306)             (398)
   Gross profit as per income statements(1)                                                                                               1 037               802
   
   (1) The reconciliation was done up to the first recognisable line item on the income statement. The reconciliation will follow the income statement after that.

                                                                                                                                             At                At
                                                                                                                                    31 December       31 December
                                                                                                                                           2017              2016
   Figures in million                                                                                                                 (Reviewed)        (Reviewed)
   Reconciliation of total segment mining assets to consolidated property, plant and equipment
   Property, plant and equipment not allocated to a segment
   Mining assets                                                                                                                          1 217             1 280
   Undeveloped property                                                                                                                   5 139             5 139
   Other non-mining assets                                                                                                                  184               160
   Wafi-Golpu assets                                                                                                                      1 842             1 769
                                                                                                                                          8 382             8 348

17 Subsequent events

   See note 6 for changes related to the Moab Khotsong transaction since the reporting date.


18 Review conclusion

   These condensed consolidated interim financial statements for the six months ended 31 December 2017 and 31 December 2016
   have been reviewed by PricewaterhouseCoopers Inc., who expressed an unmodified conclusion thereon. A copy of the auditor's
   report on the condensed consolidated interim financial statements is available for inspection at the company's registered office,
   together with the financial statements identified in the auditor's report.


SEGMENT REPORT (Rand/Metric)
For the six months ended 31 December 2017 (Reviewed)
                                                               Revenue                      Production cost               Production profit          Mining assets          Capital expenditure#         Kilograms produced*                Tonnes milled*
                                                              31 December                     31 December                    31 December              31 December               31 December                  31 December                     31 December
                                                          2017           2016             2017           2016            2017           2016        2017       2016          2017          2016           2017           2016           2017              2016
                                                               R million                       R million                      R million                R million                  R million                       kg                            t'000

South Africa
Underground
Tshepong operations(a)                                   2 960           2 661          1 970           1 843            990             818      8 575       8 439          477            352          5 093          4 618            897               862
Bambanani                                                  822             852            451             435            371             417        706         777           33             42          1 410          1 480            122               123
Joel                                                       544             772            480             490             64             282        998         821          128            120            908          1 298            251               268
Doornkop                                                   920             779            653             599            267             180      3 007       2 986          127            111          1 646          1 318            347               317
Target 1                                                   917             657            684             659            233              (2)     1 975       2 795          167            140          1 564          1 151            371               384
Kusasalethu                                              1 279           1 263          1 028           1 021            251             242      2 790       3 636          150            139          2 245          2 181            325               323
Masimong                                                   873             708            591             554            282             154        393         453           63             55          1 504          1 231            330               331
Unisel                                                     415             547            437             417            (22)            130        411         527           57             35            715            948            225               217

Surface
All other surface operations                               947             899            694             718            253             181        524         434           65            107          1 671          1 587          6 773             5 618
Total South Africa                                       9 677           9 138          6 988           6 736          2 689           2 402     19 379      20 868        1 267          1 101         16 756         15 812          9 641             8 443

International
Hidden Valley(b)                                           165             730            142             658             23              72      3 193       1 423        1 108            344            662          1 415            723             1 233
Total international                                        165             730            142             658             23              72      3 193       1 423        1 108            344            662          1 415            723             1 233
Total operations                                         9 842           9 868          7 130           7 394          2 712           2 474     22 572      22 291        2 375          1 445         17 418         17 227         10 364             9 676
Reconciliation of the segment
information to the consolidated income
statement and balance sheet (refer to
note 15)                                                                                                                                          8 382       8 348
                                                         9 842           9 868          7 130           7 394          2 712           2 474     30 954      30 639        2 375          1 445         17 418         17 227         10 364             9 676

#   Capital expenditure for international operations excludes expenditure spend on Wafi-Golpu of R187 million (2016: R112 million).
(a) Tshepong and Phakisa were two separate segments for the 2017 financial year. As of 1 July 2017, they have been integrated into Tshepong operations and have been treated as one segment for the 2018 financial year. December 2016 amounts have been
    re-presented as a result of the integration.
(b) Capital expenditure comprises of expenditure of R1 267 million net of capitalised revenue of R159 million.
*   Production statistics are unaudited and not reviewed.


DEVELOPMENT RESULTS

6 Month average
July 2017 - December 2017

METRIC                                                          IMPERIAL
                                            Channel                                                         Channel
                  Reef   Sampled     Width    Value     Gold                      Reef  Sampled    Width      Value     Gold
                Meters    Meters     (Cm's)    (g/t)  (Cmg/t)                     Feet     Feet    (Inch)     (oz/t)(In.oz/t)
Tshepong                                                        Tshepong
Basal              441       404      9,03   127,50    1 152    Basal            1 447    1 325     4,00       3,31       13
B Reef             230       240    145,23    10,21    1 483    B Reef             755      787    57,00       0,30       17
All Reefs          671       644     59,79    21,33    1 275    All Reefs        2 201    2 113    24,00       0,61       15
Phakisa                                                         Phakisa
Basal            1 058     1 060     43,64    28,36    1 238    Basal            3 471    3 478    17,00       0,84       14
All Reefs        1 058     1 060     43,64    28,36    1 238    All Reefs        3 471    3 478    17,00       0,84       14
Bambanani                                                       Bambanani
Basal                -         -         -        -        -    Basal                -        -        -          -        -
All Reefs            -         -         -        -        -    All Reefs            -        -        -          -        -
Doornkop                                                        Doornkop
Main Reef            -       171    209,79     0,89      187    Main Reef            -      561    83,00       0,03        2
South Reef         800       786     64,07    17,18    1 100    South Reef       2 624    2 579    25,00       0,51       13
All Reefs          800       957     90,11    10,40      937    All Reefs        2 624    3 140    35,00       0,31       11
Kusasalethu                                                     Kusasalethu
VCR Reef           582       454     62,62    24,75    1 550    VCR Reef         1 910    1 490    25,00       0,71       18
All Reefs          582       454     62,62    24,75    1 550    All Reefs        1 910    1 490    25,00       0,71       18
Target 1                                                        Target 1
Elsburg            256        40    260,00     2,94      765    Elsburg            841      131   102,00       0,09        9
All Reefs          256        40    260,00     2,94      765    All Reefs          841      131   102,00       0,09        9
Masimong 5                                                      Masimong 5
Basal              605       466     64,95    13,00      845    Basal            1 984    1 529    26,00       0,37       10
B Reef             442       504     99,21    35,79    3 551    B Reef           1 450    1 654    39,00       1,05       41
All Reefs        1 047       970     82,75    27,20    2 251    All Reefs        3 434    3 182    33,00       0,78       26
Unisel                                                          Unisel
Basal              437       390    186,17     7,08    1 317    Basal            1 434    1 280    73,00       0,21       15
Leader             123       100    209,20     6,18    1 293    Leader             402      328    82,00       0,18       15
All Reefs          560       490    190,87     6,88    1 312    All Reefs        1 836    1 608    75,00       0,20       15
Joel                                                            Joel
Beatrix            857       852    118,60     7,43     881     Beatrix          2 810    2 795    47,00       0,22       10
All Reefs          857       852    118,60     7,43     881     All Reefs        2 810    2 795    47,00       0,22       10
Total Harmony                                                   Total Harmony
Basal            2 541     2 320     65,85    17,57    1 157    Basal            8 335    7 612    26,00       0,51       13
Beatrix            857       852    118,60     7,43      881    Beatrix          2 810    2 795    47,00       0,22       10
Leader             123       100    209,20     6,18    1 293    Leader             402      328    82,00       0,18       15
B Reef             672       744    114,06    25,28    2 884    B Reef           2 205    2 441    45,00       0,74       33
Elsburg            256        40    260,00     2,94      765    Elsburg            841      131   102,00       0,09        9
South Reef         800       786     64,07    17,18    1 100    South Reef       2 624    2 579    25,00       0,51       13
VCR                582       454     62,62    24,75    1 550    VCR              1 910    1 490    25,00       0,71       18
Main Reef            -       171    209,79     0,89      187    Main Reef            -      561    83,00       0,03        2
All Reefs        5 830     5 467     88,65    15,15    1 343    All Reefs       19 127   17 936    35,00       0,44       15


13 February 2018

Date: 13/02/2018 07:05:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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