Sustainable Development Report 2010 Sustainable Development Report 2010

Product responsibility

Gold is unusual in that it is both a commodity and a monetary asset, Almost all gold that has ever been mined is, theoretically, available for use or recycling. Annual demand for gold comes from:

  • the jewellery market;
  • the industrial sector (electronics, dentistry and other industrial and decorative applications); and
  • investment.

Harmony’s gold is marketed and sold on its behalf by Rand Refinery to customers around the world, mainly in India, China, the Middle East and the USA.

Harmony is not involved with product labelling, providing service information or dealing directly with customers, and does not undertake customer satisfaction surveys. No incidents of non-compliance with regulations, voluntary codes or related to health and safety impacts concerning the provision and use of gold were identified at Harmony in FY10.

Gold is a benign product with no significant health or safety impacts. Mining activities, however, have the potential to negatively affect the health and safety of employees, communities and the environment. Harmony is involved in various initiatives to promote the health, safety and livelihoods of its employees and communities, and safeguard the environment in which the company operates.

As Harmony does not directly market its product, marketing communications, customer privacy and compliance issues are not applicable to the company. Harmony does, however, engage in investor relation activities including the marketing of the company to current and potential investors. The company undertakes these activities according to the required legislation, regulation and listing requirements. No complaints were received in this regard in FY10.

As gold lends itself to recycling due to its precious and enduring qualities, it is rarely wasted. Approximately 15% of annual gold consumed is recycled.