Harmony FS Op1 210109 by monkey6


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									Review of operations
JSE Limited: HAR | New York Stock Exchange and Nasdaq: HMY London Stock Exchange: HRM | Euronext Brussels: HMY Euronext Paris: HG | Berlin Stock Exchange: HAM1 www.harmony.co.za

In Harmony with the evolving gold mining business in South Africa and beyond...
In FY08, Harmony produced 1.55 million ounces of gold, making it one of the world’s largest gold producers. The group’s operations are located primarily on the Witwatersrand Basin in South Africa, encompassing 10 underground operations, an open-pit mine and surface operations in four provinces – Gauteng, North West, Mpumalanga and the Free State. In FY08, Harmony announced the formation of Rand Uranium (Pty) Ltd (Rand Uranium), a focused uranium company that will turn to account the substantial uranium-rich material held by the group at its Randfontein operations.

Also in FY08, the group announced the Morobe Mining Joint Venture with Newcrest Mining Limited (Newcrest) of Australia, in which Newcrest will earn up to 50% of Harmony’s projects in Papua New Guinea (PNG). Harmony’s exploration portfolio is largely focused on highly prospective areas in PNG, including the Wafi-Golpu project, although renewed exploration activity has begun in South Africa. The group’s primary listing is on the JSE Limited (share code: HAR) in South Africa. Its ordinary shares are also listed on stock exchanges in London (HRM), Paris (HG) and Berlin (HAM1), and are quoted in the form of American Depositary Receipts on the New York and Nasdaq exchanges (HMY), as well as International Depositary Receipts on the Brussels exchange (HMY). Harmony's shareholders are located around the world, with the largest bases being in South Africa, North America and the United Kingdom.

Corporate Office
Randfontein Office Park Corner Main Reef Road & Ward Avenue Randfontein South Africa Tel: +27 11 411 2000 E-mail: corporate@harmony.co.za

Marian van der Walt
Executive: Corporate and Investor Relations Telephone: +27 11 411 2037 Fax: +27 86 614 0999 Mobile: +27 82 888 1242 E-mail: marian@harmony.co.za

Esha Brijmohan
Investor Relations Officer Telephone: +27 11 411 2314 Fax: +27 11 692 3879 Mobile: +27 82 922 4584 Email: esha@harmony.co.za

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Harmony Fact sheet – January 2009

Harmony Fact sheet – January 2009

South Africa – Operations


Mpumalanga North West Province Gauteng Free State

Kalgold Elandsrand Doornkop Evander


Corporate office

Northern Cape

South Africa
Eastern Cape Western Cape
Cape Town


Bambanani Tshepong Masimong Joel Phakisa Target Virginia operations Phoenix

Free State
Production: 4 945kg Cash cost per kg: R149 792 Ore reserves at year-end: 37t Cash operating profit: R191 million Capital expenditure: R107 million

Production: 8 495kg Cash cost per kg: R106 658 Ore reserves at year-end: 142t Cash operating profit: R715 million Capital expenditure: R195 million

Production: 7 466kg Cash cost per kg: R122 598 Ore reserves at year-end: 440t Cash operating profit: R486 million Capital expenditure: R242 million
** Evander includes Evander 2, 5, 7 and 8 shafts

Production: 1 904kg Cash cost per kg: 149 305 Ore reserves at year-end: 13t Cash operating profit: R91 million Capital expenditure: R39 million

Virginia operations*
Production: 7 786kg Cash cost per kg: R174 091 Ore reserves at year-end: 35t Cash operating profit: R180 million Capital expenditure: R152 million
* Virginia includes Harmony 2, Merriespruit 1 and 3, Brand and Unisel

Kalgold (open cast)
Production: 2 898kg Cash cost per kg: R95 939 Ore reserves at year-end: 12t Cash operating profit: R279 million Capital expenditure: R10 million

Production: 3 657kg Cash cost per kg: R174 080 Ore reserves at year-end: 23t Cash operating profit: R61 million Capital expenditure:R114 million

Phoenix Project (Surface)
Production: 1 002kg Cash cost per kg: R75 184 Cash operating profit: R102 million Capital expenditure: R4 million

Production: 1 373kg Cash cost per kg: R164 099 Ore reserves at year-end: 6t Cash operating profit: R33 million Capital expenditure: R349 million

Production: 131kg Cash cost per kg: R130 221 Ore reserves at year-end: 166t Cash operating profit: R11 million Capital expenditure: R293 million

Other (Surface)
Production: 732kg Cash cost per kg: R98 100 Cash operating profit: R97 million Capital expenditure: R136 million

Production: 4 934kg Cash cost per kg: R152 171 Ore reserves at year-end: 268t Cash operating profit: R213 million Capital expenditure: R318 million

Production: 2 644kg Cash cost per kg: R141 027 Ore reserves at year-end: 132t Cash operating profit: R129 million Capital expenditure: R256 million

Note: FY08 figures

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South Africa – Projects

Doornkop South Reef Project
Key statistics
First production Full production Expected annual gold production Capital expenditure Life of mine Grade Life of mine ounces Future milestones July 2007 July 2012 10 796kg; 347 000oz R1 634 million; $225 million R956 million spent to date 11 years 6.60g/t 3.06 million Rock winder commissioned Pump station on 207 level commissioned

November 2008 November 2008

Elandsrand New Mine Project
Key statistics
First production Full production Expected annual gold production Capital expenditure Life of mine Grade (average reserve head grade) Life of mine ounces Future milestones October 2003 June 2012 11 502kg; 370 000 oz R1 040 million; $139 million R812 million spent to date 23 years 6.46 g/t 7.95 million 115 level pump station to be commissioned Access development on 113 level complete

December 2008 January 2009

Phakisa Project
Key statistics
First production Full production Expected annual gold production Capital expenditure Life of mine Grade (average reserve head grade) Life of mine ounces Future milestones September 2008 June 2011 253 360oz R1 348 million; $185.5 million R866 million spent to date 22 years 8.31 g/t 5.32 million First revenue from 69 level Start decline project

September 2008 November 2008

Tshepong - Sub 71 Decline Project
Good progress was also made with the Sub 71 Decline Project, with a total of 1 089m having being developed by year-end. The escalation of input costs, combined with skills shortages (design and engineering draughting personnel) had a negative impact on the project. First production from the project is expected in August 2012, with full production anticipated in July 2017. Total capex for the project is estimated at R132.4 million.

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Harmony Fact sheet – January 2009

Harmony Fact sheet – January 2009

Papua New Guinea – Operations


Papua New Guinea

Hidden Valley

Dari Port Moresby

Morobe Province
Morobe Mining Joint Venture Hidden Valley (open cast)
A gold-silver project Production to begin: mid-2009 Forecast annual full production: 250 000oz of gold 4 million ounces of silver Expected life-of-mine: 14 years

A gold-copper deposit Pre-feasibility study began: FY08

3 276km2 of exploration tenements

Harmony Gold Mining Company Limited
Directors: PT Motsepe* (Chairman), GP Briggs (Chief Executive), F Abbott (Interim Financial Director), JA Chissano*#, FFT De Buck*, Dr CM Diarra*##, KV Dicks*, Dr DS Lushaba*, C Markus*, M Motloba*, CML Savage*, AJ Wilkens* * Non-Executive; # Mozambican; *## US/Mali Citizen Secretary: NY Maluleke Registration Number: 1950/038232/06

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