UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO
RULE 13a-16 OR 15d-16 UNDER THE SECURITIES
EXCHANGE ACT OF 1934
For 31 March 2010
Harmony Gold Mining Company
Limited
Randfontein Office Park
Corner Main Reef Road and Ward Avenue
Randfontein, 1759
South Africa
(Address of principal executive offices)
(Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-
F or Form 40-F.)
Form 20-F X
Form 40-F
(Indicate by check mark whether the registrant by
furnishing the information contained in this form
is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the
Securities Exchange Act of 1934.)
Yes
No X
Issued by Harmony Gold
Mining Company Limited
Mining Company Limited
31 March 2010
For more details contact:
Hannes Meyer
Financial Director
on +27 (0)82 444 7435
or
Esha Brijmohan
Investor Relations Officer
on +27 (0)82 759 1775
Financial Director
on +27 (0)82 444 7435
or
Esha Brijmohan
Investor Relations Officer
on +27 (0)82 759 1775
Corporate Office:
Randfontein Office Park
P O Box 2
Randfontein
South Africa 1760
T +27 (11) 411 2000
Randfontein Office Park
P O Box 2
Randfontein
South Africa 1760
T +27 (11) 411 2000
www.harmony.co.za
JSE: HAR
NYSE: HMY
NASDAQ: HMY
ISIN No.: ZAE000015228
NYSE: HMY
NASDAQ: HMY
ISIN No.: ZAE000015228
Production update for third quarter FY2010
Continued focus on improvement, despite challenges
Johannesburg. Wednesday 31 March 2010.
Harmony Gold Mining Company
Limited (Harmony) announces that the past quarter saw continued focus on safety
and disciplined mining, but was not without its challenges.
Based on preliminary estimates, gold production for the quarter decreased between
1,000kg and 1,300kg compared with the previous quarter.
Loss-making shafts that were closed during the quarter resulted in a reduction of
approximately 620kg of gold, as compared with the previous quarter. Restructuring
costs in respect of these closures amount to approximately R120 million. Going
forward, only care and maintenance costs for the closed shafts will be incurred.
“Longer term the effect of this decision will be shown to have been the correct one,
lowering the cash costs and eliminating losses, however, the first 3 to 6 months of
these decisions are always painful”, said Harmony’s Chief Executive Officer, Graham
Briggs.
The remaining loss in kilograms was from South African operations, of which the
main contributing operations to this decrease include Tshepong, Masimong, Joel and
Kusasalethu (previously known as Elandsrand). Tshepong and Masimong had a slow
start-up after the Christmas break. Joel saw lower grades, mainly as a result of the
commissioning of the plant and Kusasalethu faced ore-pass problems during the
quarter, which are being investigated.
Hidden Valley continued its commissioning process, with the silver flotation circuit
being commissioned in the March quarter. As mentioned in the previous quarter, we
expect the Hidden Valley mine and processing plant to reach its original design
capacity and throughput in the June 2010 quarter. The mine’s March quarter results
will be capitalised.
“This has been a difficult quarter. Shortly after having recorded 99 days fatality-free,
a fatal accident occurred at Evander. Slow start ups following the Christmas break
and the closure of shafts resulted in a decrease in forecasted production and
Kusasalethu, in particular, had a disappointing quarter. Our management team is
Limited (Harmony) announces that the past quarter saw continued focus on safety
and disciplined mining, but was not without its challenges.
Based on preliminary estimates, gold production for the quarter decreased between
1,000kg and 1,300kg compared with the previous quarter.
Loss-making shafts that were closed during the quarter resulted in a reduction of
approximately 620kg of gold, as compared with the previous quarter. Restructuring
costs in respect of these closures amount to approximately R120 million. Going
forward, only care and maintenance costs for the closed shafts will be incurred.
“Longer term the effect of this decision will be shown to have been the correct one,
lowering the cash costs and eliminating losses, however, the first 3 to 6 months of
these decisions are always painful”, said Harmony’s Chief Executive Officer, Graham
Briggs.
The remaining loss in kilograms was from South African operations, of which the
main contributing operations to this decrease include Tshepong, Masimong, Joel and
Kusasalethu (previously known as Elandsrand). Tshepong and Masimong had a slow
start-up after the Christmas break. Joel saw lower grades, mainly as a result of the
commissioning of the plant and Kusasalethu faced ore-pass problems during the
quarter, which are being investigated.
Hidden Valley continued its commissioning process, with the silver flotation circuit
being commissioned in the March quarter. As mentioned in the previous quarter, we
expect the Hidden Valley mine and processing plant to reach its original design
capacity and throughput in the June 2010 quarter. The mine’s March quarter results
will be capitalised.
“This has been a difficult quarter. Shortly after having recorded 99 days fatality-free,
a fatal accident occurred at Evander. Slow start ups following the Christmas break
and the closure of shafts resulted in a decrease in forecasted production and
Kusasalethu, in particular, had a disappointing quarter. Our management team is
working hard to try and understand the ore pass situation better and aims to find a solution as soon as possible.
Having just visited Hidden Valley, good progress is being made in dealing with the commissioning phase. In general,
we expect to see improved results during the June 2010 quarter, with all of our management teams dedicated to
meeting production targets,” Briggs said.
Harmony’s results for the third quarter of FY2010 ending 31 March 2010 will be announced on Monday, 10 May 2010
at 09h00 and 15h00 SA time. For more information, visit www.harmony.co.za
Having just visited Hidden Valley, good progress is being made in dealing with the commissioning phase. In general,
we expect to see improved results during the June 2010 quarter, with all of our management teams dedicated to
meeting production targets,” Briggs said.
Harmony’s results for the third quarter of FY2010 ending 31 March 2010 will be announced on Monday, 10 May 2010
at 09h00 and 15h00 SA time. For more information, visit www.harmony.co.za
ends.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Dated: March 31, 2010
Harmony Gold Mining Company Limited
By:
/s/
Hannes Meyer
Name:
Hannes Meyer
Title: Financial Director