Annual Report 2010 Annual Report 2010

Statement of subsidiary companies

Annexure A
Effective group
Cost of investment
by holding company
Loans from/(to)
holding company
    capital 2010 2009 2010 2009 2010 2009
Company and description R’000 %%RmRmRmRm

Direct subsidiaries

Harmony Gold (Management Services)        
(Proprietary) Limited(a)1100100
Harmony Gold Limited(f)#100100
Unisel Gold Mines Limited(a)23 1361001008989(89)(89)
Virginia Salvage (Proprietary) Limited(a)29090
Harmony Gold Peru SA*(b)*100
Lydenburg Exploration Limited(a)42 792100100204204113
Gold mining        
African Rainbow Minerals Gold Limited(a)961001007 0817 081196172
ARMGold/Harmony Freegold Joint Venture Company (Proprietary) Limited(a)2010010017171 1661 395
Avgold Limited(a)6 8271001006 9356 935645526
Evander Gold Mines Limited(a)39 272100100545545(179)(383)
Randfontein Estates Limited(a)19 8821001001 3111 3111 127548
Investment holding        
ARMGold/Harmony Joint Investment Company (Proprietary) Limited(a)#10010011 2001 688
Harmony Gold (Isle of Man) Limited*(f)*100
Harmony Gold Australia (Proprietary) Limited(c)6 018 2391001006 0185 257
West Rand Consolidated Mines Limited(a)17 967100100321321(25)(25)
Harmony Gold Netherlands B.V.*(i)*100
Authentic Beverage (Proprietary) Limited(a)#100100
Harmony Gold (Marketing) (Proprietary) Limited(a)#100100
Harmony Precious Metal Services SAS*(d)*100
Mining related services        
Harmony Engineering (Proprietary) Limited(a)#10010033(3)(3)
Harmony HIV-Aids Company (Proprietary) Limited(a)#100100
Harmony Pharmacies (Proprietary) Limited(a)#999910220
Musuku Benefication Systems (Proprietary) Limited(a)#100100
Property holding and development        
Coreland Property Development Company (Proprietary) Limited(a)#100100
Coreland Property Management (Proprietary) Limited(a)#100100
Coreland Property Investment (Proprietary) Limited(a)#100100
La Riviera (Proprietary) Limited(a)#100100

Indirect subsidiaries

Arai Liki Offshore (Proprietary) Limited (c)293100100
Aurora Custodians (Proprietary) Limited (c)#100100
Aurora Gold Finance (Proprietary) Limited (c)#100100
Aurora Gold Services (Proprietary) Limited (c)#100100
Big Bell Gold Operations  (Proprietary) Limited (c)w100
Bracken Mines Limited (a)#100100
Evander Stone Holdings  (Proprietary) Limited (a)#100100
Garden Gully (Proprietary) Limited (c)#100100
Garnkirk (Proprietary) Limited (c)#100100
Harmony Gold FIS (Isle of Man) Limited* (f)*100
Harmony Victoria (Proprietary) Limited (c)#100100
Jubilee Minerals (Proprietary) Limited (c)2100100
Leslie Gold Mines Limited (a)#100100
Loraine Gold Mines Limited (a)#100100
NHG Investments (Proprietary) Limited (c)#100100
Selcast Nickel (Proprietary) Limited (c)#100100
South Kal Mines (Proprietary) Limited (c)6100100
Swaziland Gold (Proprietary) Limited (e)#100100
Winkelhaak Mines Limited (a)#100100
Harmony Gold (Exploration)  (Proprietary) Limited (a)10100100(3)(3)
Harmony Gold PNG (Exploration)  Limited (h)#100100
Morobe Exploration Limited (h)1 104100100
Gold mining         
Kalahari Goldridge Mining  Company Limited (a)1 275100100(438)(423)
Mt Magnet Gold NL (c)79 710100100
Abelle Limited (c)488 062100100
Aurora Gold (WA) (Proprietary) Limited (c)163 115100100
Aurora Gold (Wafi) (Proprietary) Limited (c)#100100
Aurora Gold Administration  (Proprietary) Limited (c)293100100
Aurora Gold Australia  (Proprietary) Limited (c)58100100
Aurora Gold Limited (c)685 006100100
Clidet No. 804 (Proprietary) Limited (a)#100100
Clidet No. 790 (Proprietary) Limited (a)#100100
Clidet No. 791 (Proprietary) Limited (a)#100100
Harmony Gold (PNG Services)  (Proprietary) Limited (c)#100100
Harmony Gold Investments  (Proprietary) Limited (c)#100100
Harmony Gold Operations Limited (c)405 054100100
Harmony Gold Securities (Proprietary) Limited (c)#100100
Harmony Gold WA (Proprietary) Limited (c)#100100
New Hampton Goldfields Limited (c)196 248100100
Potchefstroom Gold Areas Limited (a)8 407100100
Vadessa (Proprietary) Limited (c)#100100
Harmony Precision Casting         
Company (Proprietary) Limited (a)357100100(1)(1)
Mining related services         
Harmony Gold (PNG Services)  (Proprietary) Limited (c)#100100
Mineral right investment         
Australian Ores & Minerals (Proprietary) Limited (c)8 766100100
Carr Boyd Minerals (Proprietary)  Limited (c)402 414100100
Cogent (Proprietary) Limited (a)#100100
Kwazulu Gold Mining Company  (Proprietary) Limited (a)#100100
Morobe Consolidated Goldfields Limited (h)#100100
Portions 1 and 3 Wildebeestfontein  (Proprietary) Limited (a)2100100
Potchefstroom Gold Holdings  (Proprietary) Limited (a)2100100
Remaining Extent and Portion 15         
Wildebeestfontein (Proprietary) Limited (a)19090
The Kunana Mining Company  (Proprietary) Limited (a)#100100
Trodex Platinum (Proprietary) Limited (a)4100100
Venda Gold Mining Company  (Proprietary) Limited (a)#100100
Wafi Mining Limited (h)#100100
Property and development         
Evander Township Development  Limited (a)3100100
Evander Township Limited (a)1 340100100(2)(1)
Middelvlei Development Company (Proprietary) Limited (a)#100100
Quarrytown Limited (a)#100100
Salt Holdings Limited (a)60100100
Total     22 52421 7643 6973 434
Total investments       26 22125 198

Joint venture operations – indirect

Morobe Exploration Services Limited(h)$5050
Hidden Valley Services Limited(h)$5050
Wafi Golpu Services Limited(h)$5050
The Group’s interest in jointly controlled operations is accounted for by proportionate consolidation. Under this method the Group includes its share of the joint venture's individual income and expenses, assets and liabilities in the relevant components of the financial statements on a line by line basis.        

Associate company – direct

Pamodzi Gold Limited(a)303232

Associate company – indirect

Rand Uranium(a)#40401 4741 4742558
Investments in associates are accounted for by using the equity method of accounting. Equity accounting involves recognising in the income statement the Group’s share of the associates’ profit or loss for the period. The Group’s interest in the associate is carried on the balance sheet at an amount that reflects the cost of the investment, the share of post acquisition earnings and other movement in the reserves.
#Indicates issued share capital of less than R1 000
*Company has been liquidated during the 2010 year
w  The company was sold during the 2010 year.
$Indicates a share in the joint venture's capital assets
(a)Incorporated in the Republic of South Africa
(b)Incorporated in the Republic of Peru
(c)Incorporated in Australia
(d)Incorporated in France
(e)Incorporated in Swaziland
(f)Incorporated in the Isle of Man
(g)Incorporated in the United Kingdom
(h)Incorporated in the Papua New Guinea
(i)Incorporated in Netherlands
The above investments are valued by the directors at book value.