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HAR
HAPS
Harmony Gold Mining - Consolidated mineral resources and reserves statement
Harmony Gold Mining Company Limited
Registration number 1950/038232/06
Incorporated in the Republic of South Africa
ISIN: ZAE000015228
Consolidated mineral resources and reserves statement
Johannesburg, Monday, 28 August 2006. The Harmony Gold Mining Company
Limited (NASDAQ, NYSE: HMY; JSE: HAR) today announced that their SAMREC
compliant consolidated ore reserves statement shows an increase of 3.4%
from 54.1 million ounces to 56.0 million ounces for the year ending 30 June
2006.
Ore reserve reconciliation: FY2005 to FY2006
Gold Gold
(tonnes) (million ounces)
Balance at June 2005 1,684 54.1
Mined during FY2005 (76) (2.4)
Added equity ounces from Western 131 4.2
Areas
Other adjustments 3 0.1
Balance at June 2006 1,742 56.0
% Difference from June 2005 to 3.44%
June 2006
As reflected in the table above, Harmony"s Ore Reserves show an overall
depletion of approximately 2.4 million ounces for the financial year. The
29.2% equity ounces from Western Areas added 4.2 million ounces to the ore
reserves, resulting in most of the positive increase as indicated.
The mineral resources have increased from 528,6 million ounces to 537,6
million ounces mainly as a result of an additional 9,8 million ounces,
which came from Harmony"s 29,2% stake in Western Areas.
A gold price of US$500/oz was used for the conversion of Mineral Resources
to Ore Reserves at our South African and Australian operations. An exchange
rate of USD/ZAR6.53 for South Africa and AUD/USD 0.74 for Australia has
been used, resulting in a gold price of R105 000/kg or A$680/oz
respectively. These gold prices were also used in the calculations of mine
planning.
The Hidden Valley feasibility study at Papua New Guinea was completed using
a gold price of US$445/oz and a silver price of US$6.50/oz. These prices
were also used in the declaration of Ore Reserves.
Independent consultant SRK has audited the Harmony South African and
Australia June 2006 Mineral Resources and Ore Reserves. The Papua New
Guinea Mineral Resources and Ore Reserves were independently audited by RSG
Global. The 29,2% Western Areas equity ounces were extracted from their
audited reserve statement in their Annual Report of December 2005 and
adjusted for depletion for the period from January 2006 to June 2006.
Mineral Resources as at 30 June 2006
UNDERGROUND, OPEN PITS, PROJECTS* AND WESTERN AREAS EQUITY OUNCES**
Tons (Mt) g/t Gold Gold
(`000 kg) (`000
oz)
Measured Resources 387.9 5.85 2,268 72,907
Indicated Resources 916.3 5.09 4,664 149,936
Inferred Resources 2,485.2 3.82 9,495 305,258
Total Mineral 3,789.4 4.33 16,427 528,101
Resources
* Resource ounces below infrastructure at Poplar and Rolspruit (21.7
million ounces)
** Western Areas 29.2% equity of some 9.8 million resource ounces
SURFACE STOCKPILES
Tons (Mt) g/t Gold Gold
(`000 kg) (`000
oz)
Measured Resources 67.6 0.38 26 823
Indicated Resources 362.2 0.35 125 4,028
Inferred Resources 514.6 0.28 145 4,672
Total Mineral 944.4 0.31 296 9,523
Resources
Ore Reserves as at 30 June 2006
UNDERGROUND, OPEN PITS, PROJECTS* AND WESTERN AREAS EQUITY OUNCES**
Tons (Mt) g/t Gold Gold
(`000 kg) (`000
oz)
Proven Reserves 65.6 6.07 398 12,790
Probable Reserves 220.9 5.94 1,312 42,176
Total 286.5 5.97 1,710 54,966
* Ounces below infrastructure at Poplar and Rolspruit (9.8 million
ounces)
** Western Areas 29.2% equity reserve of some 4.2 million ounces
SURFACE STOCKPILES
Tons (Mt) g/t Gold Gold
(`000 kg) (`000
oz)
Proven Reserves 68 0.37 25 815
Probable Reserves 12 0.40 7 237
Total 80 1.00 32 1,052
Full details will be published in the Harmony Gold Mining Co Ltd annual
report due for release at the end of September 2006.
Issued by Harmony Gold Mining Company Limited
28 August 2006
For more details contact:
Philip Kotze
Executive, Investor Relations
on +27(0)83 453 0544
or
Lizelle du Toit
Investor Relations Officer
on +27(0)82 465 1244
Date: 28/08/2006 11:00:06 AM Produced by the JSE SENS Department
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