Company announcements Home » Investors » News » Company announcements » Power supply agreement for Hidden Valley Mine 2007 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 Power supply agreement for Hidden Valley MineMay 14, 2007Harmony Gold Mining Company Limited today announced that it has signed an agreement with PNG Power Limited (PPL) to supply the Hidden Valley Mine in Papua New Guinea with electricity. “Harmony has been in discussion with PPL for some time and the signing of the agreement is a further milestone in the development of the Hidden Valley Mine. ” says Graham Briggs Managing Director of Harmony International “This agreement is advantageous for the mine as the power costs are significantly lower than those to produce power by means of diesel gensets. The agreement is also good for PPL in that it supports their objectives and secures a long term client. The agreement pricing has been built into our financial model”, adds Briggs. PPL has committed to construct new transmission lines and infrastructure in order to supply hydro-electricity from the Yonki Dam. Supply is expected to commence on 1 January 2009 and the Hidden Valley Mine has a life of ten years. Harmony has bought diesel generators and will install them for the purpose of providing 100% backup power supply (if required). For more details contact: Bernard SwanepoelChief Executive+27 83 303 9922 Amelia SoaresInvestor Relations General Manager+27(0)82 654 9241 Lizelle du ToitInvestor Relations OfficerTel: +27(0)82 465 1244