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Harmony’s guidance for March 2011 quarter

Johannesburg. Wednesday, 13 April 2011. Harmony Gold Mining Company Limited (“Harmony”) announces gold production for the March 2011 quarter is likely to be 2% lower than the previous quarter mainly due the impact of the Christmas break.

Cash operating costs remained steady and capital expenditure was contained during the quarter.

In March 2011 the South African Revenue Services conceded that one of Harmony’s subsidiaries is entitled to claim certain capital allowances in terms of the Income Tax Act 58 of 1962. This allowance resulted in the reduction of the net deferred tax liability and a credit of approximately R330 million on the deferred tax line in the income statement, which will have a positive effect on Harmony’s headline earnings per share.

Chief Executive Officer, Graham Briggs, commented that: “We remain focused on delivering on our long term strategy of generating earnings to fund growth and dividends. We have invested capital to build and commission some of the best South African gold mining assets, thus significantly enhancing the production profile. We will continue with our various initiatives to ensure we are producing profitable ounces in the safest possible environment.”

Harmony’s results for the quarter ended March 2011 will be released on Thursday, 5 May 2011. Details of the results presentation are available on the company’s website,

For more details contact:

Henrika Basterfield
Investor Relations Officer
+27 (0) 11 411 2314
+27 (0) 82 759 1775 (mobile)

Corporate Office:
Randfontein Office Park
P O Box 2
South Africa 1760
T +27 (11) 411 2000

Annual report

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Investor brief

Harmony Investor brief, Sep 2017
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Harmony Investor brief

(PDF - 6.5MB)

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