Company announcements Home » Investors » News » Company announcements » Harmony’s production guidance for quarter 2, financial year 2015 2015 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 Harmony’s production guidance for quarter 2, financial year 2015January 29, 2015Johannesburg. Thursday, 29 January 2015. Harmony Gold Mining Company Limited (“Harmony” and/or “the Company”) announces that its South African operations reported its first ever fatal free quarter, with a majority of its operations performing in line with their production plans. Underground grade remained consistent quarter on quarter. Target 3 was placed on care and maintenance as planned, with Kusasalethu’s underperformance trailing down the overall production performance. On 2 December 2014 Harmony announced that a new plan was being implemented to return Kusasalethu to profitability. The Section 189 consultation process in terms of the Labour Relations Act is in progress. The new plan for Kusasalethu should return the mine to profitability at the end of the fourth quarter of financial year 2015, mining lower volumes at higher grades and at a reduced cost. Our focus at each of our mines remains safe, profitable ounces. Hidden Valley also contributed to the quarter’s lower production, due to a fatality and a belt tear on the overland conveyor (OLC). Both resulted in production stoppages at the mine. There was no structural damage to the OLC, but belt replacement work was not completed until January 2015. Maintenance scheduled for the OLC and the metallurgical plant in the first half of 2015 was brought forward and conducted while the belt was being replaced. Ore was hauled to the mill by truck during this period, adversely impacting costs. As a result of the above, gold production for the December 2014 quarter decreased by approximately 10% quarter on quarter, entirely due to production stoppages at Kusasalethu and Hidden Valley. Harmony’s results for the second quarter of financial year 2015 ended 31 December 2014 will be released in Cape Town during a presentation, webcast and conference call on Monday, 9 February 2015. Please refer to our website for details. 29 January 2015 For more details contact: Marian van der WaltExecutive: Corporate and Investor Relations+27 (0) 82 888 1242 (mobile)
