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Corporate profile

In FY09, Harmony produced 1.46 million ounces of gold, making it one of the world’s largest gold mining companies. The group’s operations are located primarily on the Witwatersrand Basin in South Africa, encompassing ten underground operations, an open-pit mine and surface operations that encompass four provinces, Gauteng, North West Province, Mpumalanga and the Free State. The Company also operates an open-pit mine in Papua New Guinea.

The group holds a 40% interest in Rand Uranium (Pty) Ltd (Rand Uranium), a focused uranium company that will turn to account the substantial uranium-rich material formerly wholly-held by the group within the Randfontein (Cooke) operations. Rand Uranium was formed in FY08.

Harmony’s PNG joint venture – the Morobe Mining Joint Venture – was entered into with Newcrest in FY08. While Harmony undertook all of the development of these PNG operations, this partnership was entered into in FY08 to minimise risk, raise capital and provide Australian-based resources. Newcrest will earn-in up to 50% of Harmony’s projects in PNG by contributing a maximum of $525 million in two phases. At the end of March 2009, Harmony held 50% in the Morobe Mining Joint Venture and Newcrest held 50%.

Harmony’s exploration portfolio is largely focused on highly prospective areas in PNG, including the Wafi-Golpu project, although renewed exploration activity has begun in South Africa.

As at the end of June 2009, the company employed 45 685 people, largely in South Africa, comprising 38 295 full-time employees and 7 390 contractors.

The group’s primary listing is on the JSE Limited (share code: HAR) in South Africa. Harmony’s ordinary shares are also listed on stock exchanges in London (HRM), Paris (HG) and Berlin (HAM1), and are quoted in the form of American Depositary Receipts on the New York and Nasdaq exchanges (HMY), and as International Depositary Receipts on the Brussels exchange (HMY). Harmony's’ shareholders are located around the world, with the largest bases being in South Africa (42%), North America (32%) and the United Kingdom (14%).