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Harmony reduces debt as cash position strengthens

Johannesburg: Wednesday, 2 December 2015. Harmony Gold Mining Company Limited (Harmony and/or Company) is pleased to advise that it has repaid R1.1 billion of its debt. These repayments comprise US$50 million on its US$250 million Revolving Credit Facility (RCF) and R 400 million on its R1.3 billion Rand facility.

The mining operations continue to perform in line with their plans post the September 2015 quarter.  An increase in the rand gold price during October and November 2015, further strengthened the Company’s cash position.

Despite the gold price trading around multi-year lows in US dollar terms, Harmony, with over 90% of its operating revenue generated in South Africa, benefits from the weak rand which more than offsets the impact of the low US dollar gold price.

“Our hard work of the last couple of years are finally paying off, enabling us to reduce our debt, strengthen our balance sheet and provide us with even more certainty that we can fund the Golpu project”, said Graham Briggs, chief executive officer of Harmony.

For more details contact:

Henrika Ninham
Investor Relations Manager
+27 (0) 82 759 1775 (mobile)

Marian van der Walt
Executive: Corporate and Investor Relations
+27 (0) 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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