Harmony Gold Mining : delivers operational excellence – exceeds annual production guidance

23 Jul '18

Johannesburg, Monday 23 July 2018. Harmony Gold Mining Company Limited ('Harmony' or the 'Company') is pleased to announce that it has exceeded annual FY18 production guidance by 4%. Operational highlights include:

• Production guidance achieved - third consecutive year

Gold production of 1.228 million ounces achieved, exceeding annual production guidance of 1.18 million ounces. The South African operations recorded a 14% increase in gold production of which Moab Khotsong produced 105 900 ounces (contributing 10% of the increase in SA gold production) for the four months the operation has been included in Harmony's asset portfolio

• 8% increase in underground recovered grade - sixth consecutive year of increasing grade

Underground recovered grade of 5.48g/t achieved in FY18

All-in sustaining cost is expected to be below guidance of R520 000/kg

'We are extremely proud of our production performance. We recognise that safety requires increased attention and we are committed to continue driving a culture of safety. Safety, costs and production are the only variables that we can control and we will build on the momentum achieved in FY18' said Peter Steenkamp, chief executive officer of Harmony.

The US$200 million bridge facility raised for the Moab Khotsong transaction has been fully repaid utilising available cash resources and the proceeds received from the share placement.

Harmony's successful hedging strategy continues to lock in attractive margins. For details of the hedging programme in place at 30 June 2018 and a presentation supporting this release, please refer to https://www.harmony.co.za/invest/presentations/2018.

Annual operating and financial results for the year ended 30 June 2018 will be announced on Tuesday 21 August 2018.

JSE Sponsor:
J.P. Morgan Equities South Africa Propriety Limited

For more details, contact:

Lauren Fourie
Investor Relations Manager
[phone]

Marian van der Walt
Executive: Investor Relations
[phone]

Harmony Gold Mining Company Limited (Harmony), a world-class gold mining and exploration company, has operations and assets in South Africa and Papua New Guinea (PNG). Harmony has more than 60 years' experience in the industry. Company assets include one open pit mine and several exploration tenements in PNG, as well as 10 underground mines and 1 open pit operation and several surface sources in South Africa. In addition, Harmony owns 50% of the significant Wafi-Golpu copper-gold project - a tier 1 asset - in a joint venture in PNG.

The company's primary stock exchange listing is on the JSE with a secondary listing on the New York Stock Exchange. The bulk of our shareholders are in South Africa and the United States. Additional information on the company is available on the corporate website, www.harmony.co.za.