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Harmony’s Hidden Valley processing infrastructure upgrade completed ahead of schedule, processing of ore has recommenced

Johannesburg, Thursday 30 November 2017. Harmony Gold Mining Company Limited (“Harmony” and/or “the Company”) is pleased to announce that the planned shutdown at its Hidden Valley mine in Papua New Guinea (PNG) was completed two weeks ahead of schedule and processing of ore recommenced on the 15th of November 2017. More than 65% of the planned initial capital investment in the stage 5 and 6 cutback has been incurred to date and the project is progressing ahead of schedule and on budget, all whilst maintaining the highest safety standards.

At the 2017 Mining and Petroleum Conference and Trade Fair in Papua New Guinea, the General Manager at Hidden Valley, Gary Davies, highlighted the following:

  • Safety at the mine is industry leading, with a lost-time injury rate during the past twelve months of 0.2 per million hours worked and the last lost-time injury recorded in April 2017
  • Processing operations at the mine started two weeks ahead of schedule on 15 November 2017, following the planned four-month plant shutdown
  • Mining at the Stage 5 cutback is a month ahead of schedule and on budget, with an annualised mining rate of 28 million tonnes per annum achieved in October 2017
  • It is expected that commercial levels of production will be achieved in the June quarter 2018, as per plan

“The Hidden Valley team showcases responsible mining - communities benefit, employees benefit and the mine is well on track to deliver annual steady state gold production of 180,000oz at an all-in sustaining cost of less than US$950/oz during FY19”, said Peter Steenkamp, chief executive officer of Harmony.

For more details contact:

Lauren Fourie
Investor Relations Manager
+27 (0) 71 607 1498 (mobile)

Sponsor:
J.P. Morgan Equities South Africa Proprietary Limited.

Harmony Gold Mining Company Limited (Harmony), a world-class gold mining and exploration company, has operations and assets in South Africa and Papua New Guinea (PNG). Harmony, which has more than 60 years’ experience in the industry, is the third largest gold producer in South Africa. Our assets include one open pit mine and several exploration tenements in PNG, as well as 9 underground mines and 1 open pit operation and several surface sources in South Africa. In addition, we own 50% of the significant Golpu project in a joint venture in PNG.

The company’s primary stock exchange listing is on the JSE with a secondary listing on the New York Stock Exchange. The bulk of our shareholders are in South Africa and the United States. Additional information on the company is available on the corporate website, www.harmony.co.za.

Annual report

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Integrated annual report 2017

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Investor brief

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

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