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Harmony Gold Mining Co Ltd consolidated mineral resources and reserves statement

The Harmony Gold Mining Company Limited today announced that their SAMREC compliant consolidated ore reserves statement shows an increase of 3.4% from 54.1 million ounces to 56.0 million ounces for the year ending 30 June 2006.

Ore reserve reconciliation: FY2005 to FY2006
Gold (tonnes)Gold (million ounces)
Balance at June 20051,68454.1
Mined during FY2005­76(2.4)
Added equity ounces from Western Areas1314.2
Other adjustments30.1
Balance at June 20061,74256.0
% Difference from June 2005 to June 20063.44%

As reflected in the table above, Harmony’s Ore Reserves show an overall depletion of approximately 2.4 million ounces for the financial year. The 29.2% equity ounces from

Western Areas added 4.2 million ounces to the ore reserves, resulting in most of the positive increase as indicated.

The mineral resources have increased from 528,6 million ounces to 537,6 million ounces mainly as a result of an additional 9,8 million ounces, which came from Harmony’s 29,2% stake in Western Areas.

A gold price of US$500/oz was used for the conversion of Mineral Resources to Ore Reserves at our South African and Australian operations. An exchange rate of USD/ZAR6.53 for South Africa and AUD/USD 0.74 for Australia has been used, resulting in a gold price of R105 000/kg or A$680/oz respectively. These gold prices were also used in the calculations of mine planning.

The Hidden Valley feasibility study at Papua New Guinea was completed using a gold price of US$445/oz and a silver price of US$6.50/oz. These prices were also used in the declaration of Ore Reserves.

Independent consultant SRK has audited the Harmony South African and Australia June 2006 Mineral Resources and Ore Reserves. The Papua New Guinea Mineral Resources and Ore Reserves were independently audited by RSG Global. The 29,2% Western Areas equity ounces were extracted from their audited reserve statement in their Annual Report of December 2005 and adjusted for depletion for the period from January 2006 to June 2006.

Mineral Resources as at 30 June 2006
Underground, open pits, projects*, and western areas equity ounces**
  Tons (Mt)g/tGold ('000 kg) Gold ('000 oz)
Measured Resources387.95.852,26872,907
Indicated Resources916.35.094,664149,936
Inferred Resources2,485.23.829,495305,258
Total Mineral Resources3,789.44.3316,427528,101

* Resource ounces below infrastructure at Poplar and Rolspruit (21.7 million ounces)

** Western Areas 29.2% equity of some 9.8 million resource ounces

Surface stockpiles
  Tons (Mt)g/tGold ('000 kg) Gold ('000 oz)
Measured Resources67.60.3826823
Indicated Resources362.20.351254,028
Inferred Resources514.60.281454,672
Total Mineral Resources944.40.312969,523
Ore Reserves as at 30 June 2006
Underground, open pits, projects*, and western areas equity ounces**
  Tons (Mt)g/tGold ('000 kg) Gold ('000 oz)
Proven Reserves65.66.0739812,790
Probable Reserves220.95.941,31242,176
Total286.55.971,71054,966

* Ounces below infrastructure at Poplar and Rolspruit (9,8 million ounces)

** Western Areas 29.2% equity reserve of some 4.2 million ounces

Surface stockpiles
  Tons (Mt)g/tGold ('000 kg) Gold ('000 oz)
Proven Reserves68.00.3725815
Probable Reserves12.00.637237
Total80.00.40321,052

Full details will be published in the Harmony Gold Mining Co Ltd annual report due for release at the end of September 2006.

For more details contact:

Philip Kotze
Executive, Investor Relations
+27(0)83 453 0544

Lizelle du Toit
Investor Relations Officer
+27(0)82 465 1244

Annual report

Integrated annual report 2016
Integrated annual report 2017

(HTML & PDFs)

Investor brief

Harmony Investor brief, Sep 2017
September 2017 -
Harmony Investor brief

(PDF - 6.5MB)

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