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HARMONY GOLD MINING COMPANY LIMITED - Acquisition of Mponeng, Mine Waste Solutions Concluded

Release Date: 14/09/2020 10:00:00      Code(s): HAR       PDF(s):  
Acquisition of Mponeng, Mine Waste Solutions Concluded

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


ACQUISITION OF MPONENG, MINE WASTE SOLUTIONS CONCLUDED


Johannesburg, Monday, 14 September 2020. Harmony Gold Mining Company
Limited (“Harmony” or “the Company”) is pleased to announce that all
conditions precedent relating to its acquisition of the Mponeng mine
(Mponeng) and Mine Waste Solutions (MWS) from AngloGold Ashanti Limited
(AngloGold Ashanti) (“the transaction”) have been met and accordingly
the two parties have now concluded the transaction.



Consequently, the transaction is scheduled to close in accordance with
the transaction agreement on 30 September 2020, upon which Harmony will
assume full ownership and operation of Mponeng, MWS and all other assets
and liabilities that form part of the transaction. Harmony will take
effective control of the assets as from the 1st of October 2020.



Aside from improving Harmony’s portfolio mix between surface and
underground operations, the transaction has the potential to improve the
group’s overall recovered grade and increase cash flow margins. Harmony
will only be in a position to estimate the full benefit of the integration
once its planning parameters have been applied and the Company has taken
ownership of the assets.



Harmony CEO Peter Steenkamp said: “This is a proud moment for Harmony,
further demonstrating our well-established belief in and commitment to
the sustainability of gold, our confidence in South Africa and our
determination to grow value for all of our stakeholders.”



Harmony will publish its financial results for the year ended 30 June
2020 on Tuesday, 15 September 2020. Please see Harmony’s website for
more details: www.harmony.co.za.

Ends.


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For more details, contact:

Marian van der Walt
Senior Group Executive: Enterprise Risk and Investor Relations
+27(0)82 888 1242 (mobile)

Max Manoeli
Senior Investor Relations Coordinator
+27(0) 82 759 1775 (mobile)

Johannesburg, South Africa

14 September 2020



Sponsor:

J.P. Morgan Equities South Africa Proprietary Limited




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Date: 14-09-2020 10:00:00
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