Harmony Gold Mining Company Limited (Harmony), one of the world’s largest gold mining companies, operates in South Africa and in Papua New Guinea (PNG). Safety remains Harmony’s number one priority as its aim is to mine safe, profitable ounces. In South Africa, the company has 10 underground and several surface operations. In PNG, Harmony has a 50 percent interest in Morobe Mining Joint Ventures (MMJV), which includes Hidden Valley, an open-cast gold and silver mine which began production in FY10, the Wafi-Golpu project, and extensive exploration tenements.
Harmony’s partner in MMJV is Newcrest Mining Limited (Newcrest), which acquired its interest in this venture from Harmony, the original developer, in FY09.
Harmony’s exploration portfolio focuses principally on highly prospective areas in PNG (through MMJV) and more than 7 700km² of exploration tenements which are 100 percent owned by Harmony. Harmony’s corporate headquarters are located in Randfontein, Gauteng, South Africa. Significant capital expenditure in recent years is aimed at accessing the group’s extensive resources and extending the lives of its mines. As at 30 June 2011, Harmony reported mineral reserves of 41.6 million ounces and mineral resources of 163.9 million ounces. Harmony is a publicly listed company. The group’s primary listing is on the JSE Limited (share code: HAR) in South Africa. Harmony’s ordinary shares are also listed in the form of American Depositary Receipts on the New York Stock Exchange (HMY), and as International Depositary Receipts on the Brussels exchange (HMY) and Berlin (HAM1). At the end of June 2011, the group had in issue 430 million ordinary shares and a market capitalisation of R38.69-billion (U$5.7-billion).
|Randfonteinemail@example.com||+27 (0)11 411 2000||https://www.harmony.co.za|
|STATISTICS / DEMOGRAPHICS / HISTORY|
Year founded: 25 August 1950
|BUSINESS & FINANCE|
Activity: Gold mining and exploration
|TRAINING & CSI|
CSI initiatives: Various, such as skills development (graduate development programme), Bridging School, Leadership Development Programme, Supervisory Development Programme, Portable Skills Training
BEE contribution level: B-BBEE procurement expenditure totalled R2 036-million (38% of total expenditure) for FY10:
1. Founded in 1950