Annual Report 2010 Annual Report 2010

Scope of report

This Annual Report covers the financial year from 1 July 2009 to 30 June 2010 (FY10). Harmony Gold Mining Company Limited (Harmony) is committed to the principle of integrated reporting and has, for the first time, incorporated an account of broader social, environmental and economic performance throughout this report. Together with this annual report, the company has also produced:

  • An online Sustainable Development Report 2010, which provides a more detailed account of the environmental, social and governance (ESG) aspects of Harmony’s business. The Sustainable Development Report 2010 has been compiled in accordance with the G3 guidelines of the Global Reporting Initiative (GRI) and in alignment with the principles of integrated reporting as recommended by the King Report on Governance for South Africa and the King Code of Governance Principles (collectively King II). This report on sustainable development may be found at
  • An annual report prepared on a Form 20-F, which has been filed with the US Securities and Exchange Commission (SEC), in compliance with the listings regulations of the NYSE.

The joint aim of these reports is that in combination they seek to provide to all Harmony’s stakeholders – shareholders, investors, employees, suppliers, regulatory authorities and governments around the world – an informative description of Harmony’s business and its operations, and their impacts.

Operational and financial information in this report covers the period FY10 with comparative annual data provided for information purposes. The annual financial statements included in this report have been prepared in accordance with the International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board, the South African Companies Act 1973, the Company Laws Amendment Act (No 24 of 2006), the listings requirements of the JSE Limited and the guidelines of King II.

The mineral resource and mineral reserve information provided in this annual report has been compiled in accordance with the South African Code for Reporting of Exploration Results, Mineral Reserves and Mineral Resources (SAMREC), the Australian Code for Reporting Mineral Resources and Mineral Reserves (JORC) and Industry Guide 7 of the United States’ SEC. This information has been gathered, reviewed and confirmed by the relevant Competent Persons as defined by SAMREC.

These reports, as well as additional detailed information on Harmony, including its regulatory filings, press releases, stock exchange announcements and quarterly reports, are available on the company’s website at

All use of $ or dollar refers to US dollars, unless otherwise stated. In addition, all production volumes are reported in metric tonnes (t) unless specifically referred to as being imperial tons.

Forward-looking statement

Statements in this report include “forward-looking statements” that express or imply expectations of future events or results. Forward-looking statements are statements that are not historical facts. These statements include financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to future operations, products and services, and statements regarding future performance.

Forward-looking statements are generally identified by the words “expect,” “anticipates,” “believes,” “intends,” “estimates” and other similar expressions. All forward-looking statements involve a number of risks, uncertainties and other factors, and Harmony cannot give assurances that such statements will prove to be correct. Risks, uncertainties and other factors could cause actual events or results to differ from those expressed or implied by the forward-looking statements.

Although Harmony’s management believes that the expectations reflected in such forward-looking statements are reasonable, investors are cautioned that forward-looking information and statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of Harmony, that could cause actual results and developments to differ materially from those expressed in, implied or projected by, the forward-looking information and statements. Certain of these risks and uncertainties are discussed in this report in the Risk management section and in the Form 20-F that Harmony has filed with the SEC. The Form 20-F may be downloaded from the company’s website at