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Wafi-Golpu project grows to a billion tonne Resource – adds to growth in quality ounces; Golpu’s grade at plus 1% copper

Johannesburg. Wednesday, 20 July 2011. Harmony Gold Mining Company Limited (‘Harmony’ or ‘the Company’) is pleased to publish its Statement of Mineral Resources and Mineral Reserves as at 30 June 2011, produced in accordance with the South African Code for the Reporting of Mineral Resources and Mineral Reserves (SAMREC Code) and the Australian Code (JORC Code). The Measured and Indicated Mineral Resources are inclusive of those Mineral Resources modified to produce the Mineral Reserves.

Graham Briggs, chief executive officer commented, “The Company’s Resource and Reserve base support our strategy of producing high quality ounces at lower costs. Harmony has invested a great deal in the expansion of its production base in South Africa and Papua New Guinea (PNG). Our investment in exploration continues to pay dividends, with the Wafi-Golpu Resource showing a phenomenal 57% increase to over 1 billion tonnes - confirming it is one of the highest grade copper gold porphyry systems in South East Asia. These excellent results validate our long held belief that PNG is a game changing asset for Harmony.”

Briggs added, “We continue to improve our business planning process, using benchmarks and targets we believe to be realistic. Cut off grades have been revised, areas which require more geological work and minor reefs have been excluded from Resources. Results from extensive underground development and borehole drilling during the year have been used to improve the confidence in the geological models of our operations. Our ‘life of mine’ plans support our commitment to improving the grades from our underground operations, lowering our cost base and benchmarking our costing parameters - both internally across our operations and externally against other gold producers.”

As at 30 June 2011, Harmony’s Mineral Reserves amounted to 41.6 million ounces (Moz) of gold, spread across Harmony’s assets in South Africa and PNG. The Reserves of Kusasalethu, Doornkop, Tshepong and Phakisa in South Africa and Hidden Valley in PNG now constitute 45% of Harmony’s total Mineral Reserves. Once the pre-feasibility study of Wafi-Golpu has been completed, more ounces from PNG may be added to Harmony’s Reserves.

Read the full announcement: Wafi-Golpu project grows to a billion tonne Resource – adds to growth in quality ounces; Golpu’s grade at plus 1% copper (PDF - 1.1MB)

For more details contact:

Graham Briggs
Chief Executive Officer
+27 (0) 83 265 0274 (mobile)

Jaco Boshoff
Executive: Reserves, New Business and Projects
+27 (0) 83 395 3810 (mobile)

Greg Job
Harmony Gold (PNG Services) Pty Ltd:Executive - Growth & Resource Development
+61 417 172 387 (mobile)

Marian van der Walt
Executive: Corporate and Investor Relations
+27 82 888 1242(mobile)

Annual report

Integrated annual report 2016
Integrated annual report 2017


Investor brief

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

(PDF - 6.5MB)

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