Company announcements Home » Investors » News » Company announcements » Harmony completes Hidden Valley acquisition 2016 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 Harmony completes Hidden Valley acquisitionOctober 25, 2016Johannesburg, Tuesday, 25 October 2016: Harmony Gold Mining Company Limited (“Harmony” and/or “the company”) today announced that South African regulatory approval has been obtained in support of its acquisition of the Hidden Valley mine in Papua New Guinea. The transaction is now complete. Harmony’s acquisition of its joint venture partner’s 50% share in Hidden Valley and the surrounding tenement package in Papua New Guinea, is in line with the company’s overall aspiration to increase its annual production profile to 1.5Moz within three years. Harmony plans to invest and develop stages 5 and 6 of the mine initially, mining approximately 1.4Moz ounces of gold and 27Moz of silver over a period of seven years. The company believes that Hidden Valley has the potential to contribute approximately 180,000oz gold per annum to Harmony’s production profile, at an all-in sustaining cost of less than US$950/oz. “Harmony has the skills and technology to successfully recommission one of PNG’s most recent mine developments”, said chief executive officer Peter Steenkamp. An update on the mine’s life of mine plan will be included in Harmony’s production update, which will be released on the 10th of November 2016. For more details contact: Marian van der Walt Executive: Corporate and Investor Relations +27 (0) 82 888 1242 (mobile) 25 October 2016 Sponsor: J.P. Morgan Equities South Africa Proprietary Limited.
