Harmony achieves record operating profits and revenue


 
TIDMHRM 
 
HARMONY 
 
PRESS RELEASE 
 
Harmony achieves record operating profits and revenue 
 
Johannesburg: 31 October 2011: Harmony Gold Mining Company Limited (`Harmony' 
or the `Company') is pleased to release its financial results for the period 
ended 30 September 2011. 
 
"Record operating profits and revenue were generated during this period with 
the highest operating profit recorded in the history of the company at R1.3 
billion, a 45% increase quarter-on-quarter. Harmony's headline earnings per 
share increased by 217% to 95 South African cents, when compared to the 
previous quarter. The strength of the gold price together with improved 
operational efficiency supported our results", said Graham Briggs, chief 
executive officer. 
 
Drilling at Wafi-Golpu confirms the resource outline previously published. The 
latest borehole intersection (some assays are still pending) at Golpu, WR406, 
reflected results at 861m of 1.51g/t Au, 1.48% Cu including 199m @ 2.87g/t Au 
and 2.57% Cu from 1 286m. The pre-feasibility study is on schedule to be 
delivered during the first half of the 2012 calendar year. 
 
Exploration results from Harmony's own wholly owned tenements at Mount Hagen in 
Papua New Guinea were also very encouraging with assays indicating the 
following bore hole result: PNDD001: 285m @ 0.1% Cu 83 ppm Mo from 72m. 
Exploration results in PNG have been pleasing and we look forward to more 
exciting news from the region. 
 
Production for the September 2011 quarter was only slightly higher than the 
previous quarter. Our targeted increase in production was negatively impacted 
by the wage strike in August 2011, which resulted in approximately 500kg being 
lost. As expected, higher electricity (due to winter tariffs) and labour costs 
resulted in the R/kg costs being 9.2% 
 
higher at R265 288/kg compared to R242 851/kg in the June 2011 quarter. 
 
The gold price received increased by 20.3% to R396 405/kg in the September 2011 
quarter from R329 536/kg received in the previous quarter. The increase in the 
gold price resulted in revenues increasing by 14.8% or R506.9 million. 
 
Graham Briggs concluded that "as our growth projects come on stream, and our 
existing mines operate to tailored business plans, we remain confident of 
reaching our long-term targets". 
 
ends. 
 
Issued by Harmony Gold Mining Company Limited 
 
31 October 2011 
 
For more details contact: 
 
Henrika Basterfield 
 
Investor Relations Officer 
 
+27 (0) 82 759 1775 (mobile) 
 
Marian van der Walt 
 
Executive: Corporate and Investor Relations 
 
+27 (0) 82 888 1242 (mobile) 
 
Corporate Office: 
 
Randfontein Office Park 
 
P O Box 2 
 
Randfontein 
 
South Africa 1760 
 
T +27 (11) 411 2000 
 
www.harmony.co.za 
 
JSE: HAR                               HAR 
 
NYSE: HMY 
 
ISIN No.: ZAE000015228 
 
Registration number: 1950/038232/06 
 
 
 
END

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