Statement re Assets in Papua New Guimea


 
TIDMHRM 
 
Harmony Gold Mining Company Ltd ("Harmony") 
 
Incorporated in the Republic of South Africa 
 
Registration number: 1950/038232/06 
 
Share code: HAR 
 
ISIN: ZAE000015228 
 
PRESS RELEASE 
 
Johannesburg. 14 November 2011. Harmony Gold Mining Company Limited (Harmony) 
has received a number of enquiries and proposals from interested third parties 
regarding the direct or indirect acquisition of its assets in Papua New Guinea. 
 
Harmony's Board of Directors has given careful consideration, with the 
assistance of its advisers, to all of these enquiries and proposals and is of 
the view that the disposal of the Company's Papua New Guinea assets at this 
early stage of their development will not realise their full potential value. 
This is particularly relevant in relation to the Wafi-Golpu project, where the 
pre-feasibility study is expected to be completed by the middle of 2012 and the 
feasibility study during 2014. 
 
Drilling at the Wafi-Golpu project continues to confirm the world class nature 
of this ore body. The Board believes that the results of the ongoing drilling 
and the completion of the feasibility study should significantly increase the 
confidence in and the potential value of the Wafi-Golpu project. 
 
Harmony has sufficient operating cash flow and financing facilities to fund the 
completion of the drilling and the feasibility studies. The Board is confident 
that Harmony will be able to fund its share of the capital required to bring 
the Wafi-Golpu project to production. 
 
Exploration in respect of Harmony's assets in Papua New Guinea which fall 
within and outside the Harmony/Newcrest Morobe joint venture areas, continues 
to deliver promising results. 
 
The Board believes that the continuation of Harmony's current strategy of 
investing in the development of its assets in Papua New Guinea is in the best 
interests of Harmony and its shareholders. 
 
This press release has been issued for information purposes only and does not 
constitute a cautionary announcement. Shareholders are referred to Harmony's 
website to read more about the company and its assets in Papua New Guinea 
(www.harmony.co.za). 
 
Patrice Motsepe 
 
Chairman of the Board 
 
Forward-Looking Statement 
 
This press release contains forward-looking statements within the meaning of 
Section 27A of the US Securities Act of 1933 and Section 21E of the US 
Securities Exchange Act of 1934. Forward-looking statements are subject to 
risks, uncertainties and assumptions and are identified by words such as 
"expects," "estimates," "projects," "anticipates," "believes," "plans," 
"should" and other similar words. All statements addressing events or 
developments that Harmony expects or anticipates will occur in the future, 
statements regarding the plans and objectives for future operations and other 
proposed or contemplated transactions, statements of future performance, 
statements of the assumptions underlying or relating to any of the foregoing 
statements, and other statements that other than statements of historical fact, 
are considered to be "forward-looking statements." 
 
Because they are forward-looking, such statements should be evaluated in light 
of important risk factors and uncertainties. These risk factors and 
uncertainties are more fully described in Harmony's most recent Annual Report 
on Form 20-F under the heading entitled "Risk Factors." Should one or more of 
these risks or uncertainties materialize, or should any of Harmony's underlying 
assumptions prove incorrect, actual results could vary materially from those 
currently anticipated. In addition, undue reliance should not be placed on 
Harmony's forward-looking statements. Except as required by law, Harmony 
disclaims any obligation to update or publicly announce any revisions to any of 
the forward-looking statements contained in this press release. 
 
For more details contact: 
 
Graham Briggs 
 
Chief Executive Officer 
 
+27 011 411 2011 
 
+27 (0) 83 265 0274 (mobile) 
 
Corporate Office: 
 
Randfontein Office Park 
 
P O Box 2 
 
Randfontein 
 
South Africa 1760 
 
T +27 (11) 411 2000 
 
www.harmony.co.za 
 
Sponsor: 
 
J.P. Morgan Equities Limited 
 
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END
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