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    HAR   ZAE000015228

HARMONY GOLD MINING COMPANY LIMITED

(HAR)
  Report
End-of-day quote. End-of-day quote Johannesburg Stock Exchange - 10/25
58.37 ZAR   -2.01%
10/25HARMONY GOLD MINING : Fatalities at kusasalethu
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10/22HARMONY GOLD MINING : FATALITY AT KUSASALETHU - Form 6-K
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10/13HARMONY GOLD MINING COMPANY LIMITED : Ex-dividend day for final dividend
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Harmony Gold Mining : (Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20 F or Form 40F.) (Form 6-K)

09/16/2021 | 10:42am EDT
(Indicate by check mark whether the registrant files or will file annual reports under cover of
Form 20 F or Form 40F.)

Form 20F ☒ Form 40F ☐

(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 12g32(b) under the Securities Exchange Act of 1934.)

Yes ☐ No ☒




Harmony Gold Mining Company Limited
Registration number 1950/038232/06
Incorporated in the Republic of South Africa
ISIN: ZAE000015228
JSE share code: HAR
('Harmony' or 'the company')

HARMONY CONCLUDES THREE-YEAR WAGE AGREEMENT

Agreement balances the best interest of employees and the long-term sustainability of Harmony

Johannesburg, Thursday, 16 September 2021. Harmony Gold Mining Company Limited ('Harmony' and/or 'the Company') has concluded a three-year wage agreement ('wage agreement') in respect of wages and conditions of service for the period 1 July 2021 to 30 June 2024. The wage agreement was agreed with the following labour unions: The Association of Mineworkers and Construction Union (AMCU), the Coalition (comprising The National Union of Mineworkers (NUM), United Association of South Africa (UASA) and Solidarity) and The National Union of Metalworkers of South Africa (NUMSA).

Harmony CEO, Peter Steenkamp said: 'This wage agreement reflects the strong partnership between Harmony and organised labour, demonstrating our commitment towards our long-term sustainability and our people. We would like to thank everyone involved for engaging constructively and keeping everyone's best interests at heart.'

The agreement allows for the following wage increases:

a.Category 4 to 8 employees will receive a wage increase of R1,000 for each year of the wage agreement. This translates to an average increase of 8.4% for employees across these categories.
b.Miners, Artisans and Officials will receive a wage increase of 6% of their basic wage for each year of the agreement.
c.The total average wage increase negotiated is 7.8% in year 1, 7.4% in year 2 and 7.0% in year 3.
d.98% of Harmony employees are part of the bargaining unit covered by this wage agreement.



In addition to the basic wage increases mentioned above, the parties have agreed to the following benefits:

1.As part of Harmony's drive to promote home ownership, a housing allowance will be introduced for the benefit of employees who choose to purchase a residence or who have already entered into bond agreements. The housing allowance will be R2,750 in year 1 and increase incrementally each year up to a maximum value of R3,240 in year 3.
2.Employees not eligible for the housing allowance will receive a living-out allowance of R2,500 in year 1, which will increase by R100 in year 2 and in year 3 respectively. All employees will be eligible for either a housing allowance or a living-out allowance, but not both.
3.A number of non-wage related and process issues have been agreed to, including: maternity and paternal leave; medical incapacity and medical aid benefits.

This is the first wage agreement reached outside the auspices of the Mineral Council's central bargaining forum and will be marked by way of an in-person signing ceremony to allow all parties to participate in and witness the signing of the agreement. This ceremony will take place at the Birchwood Conference Centre in Boksburg. All the necessary Covid-19 health and safety protocols will be followed.

Ends.

For more details, contact:

Sihle Maake
Head of Communications
+27 (0) 83 722 5467
Sihle.Maake@Harmony.co.za

Jared Coetzer
Head of Investor Relations
+27 (0) 82 746 4120
Jared.Coetzer@Harmony.co.za

Mashego Mashego
Executive Director: Corporate Affairs
+27 (0) 82 767 1072
Mashego.Mashego@Harmony.co.za



Memory Johnstone
+27 (0) 82 719 3081
memory@rasc.co.za

16 September 2021

Sponsor:
J.P. Morgan Equities South Africa Proprietary Limited.


Disclaimer

Harmony Gold Mining Company Ltd. published this content on 16 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 September 2021 14:41:11 UTC.


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Sales 2021 41 909 M 2 851 M 2 851 M
Net income 2021 7 523 M 512 M 512 M
Net Debt 2021 663 M 45,1 M 45,1 M
P/E ratio 2021 4,64x
Yield 2021 2,96%
Capitalization 35 985 M 2 446 M 2 448 M
EV / Sales 2021 0,87x
EV / Sales 2022 0,74x
Nbr of Employees -
Free-Float 87,7%
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Mean consensus UNDERPERFORM
Number of Analysts 7
Last Close Price 58,37 ZAR
Average target price 57,57 ZAR
Spread / Average Target -1,37%
EPS Revisions
Managers and Directors
Peter Steenkamp Chief Executive Officer & Executive Director
Boipelo Lekubo Co-Chief Financial Officer & Director
Danie Muller Co-Chief Financial Officer
Patrice Tlhopane Motsepe Non-Independent Non-Executive Chairman
Robert Hart Head-Technical Services & Engineering
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