Page 1

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 05 November 2015

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

RESULTS

FOR THE FIRST QUARTER ENDED

30 SEPTEMBER 2015

Harmony Gold Mining Company Limited

(“Harmony” or “Company”)

Incorporated in the Republic of South Africa

Registration number 1950/038232/06

JSE share code: HAR | NYSE share code: HMY | ISIN: ZAE000015228

Quarter

Q-on-Q

variance

Sep-15

Jun-15

Gold produced

– kg

8 752

7 977

– oz

281 385

256 465

Cash operating costs

– R/kg

384 810

389 671

– US$/oz

921

1 003

Gold sold

– kg

8 743

8 321

– oz

281 094

267 523

Underground grade

– g/t

4.99

4.61

Total costs and capital

– R/kg

443 730

465 923

– US$/oz

1 062

1 200

All-in sustaining costs

– R/kg

466 061

478 746

– US$/oz

1 115

1 233

Gold price received

– R/kg

473 567

463 910

– US$/oz

1 133

1 195

(5)

Production profit

– R million

701

627

– US$ million

Basic loss per share

– SAc/s

(120)

(725)

– USc/s

(9)

(60)

Headline earnings/(loss)

– Rm

(523)

191

>(100)

– US$m

(40)

>(100)

Headline earnings/(loss) per share

– SAc/s

(120)

>(100)

– USc/s

(9)

>(100)

Exchange rate

– R/US$

13.00

12.08

KEY FEATURES

17% increase in SA underground gold production
8% increase in underground recovered grade
Restructuring yielding results
SA operations are profitable
We are on track to meet our FY16 guidance
Excellent drilling results at Kili Teke
Golpu’s feasibility results to be completed December 2015

Q1 FY16

HARMONY’S ANNUAL REPORTS

Harmony’s Integrated Annual Report and the Form 20-F filed with the United States’ Securities and Exchange Commission

for the financial year ended 30 June 2015 are available on our website at

http://www.harmony.co.za/investors/reporting/annual-reports.

FORWARD-LOOKING STATEMENTS

PRIVATE SECURITIES LITIGATION REFORM ACT

Safe Harbour Statement

This report contains forward-looking statements within the meaning of the safe harbour provided by Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities

Act of 1933, as amended, with respect to our financial condition, results of operations, business strategies, operating efficiencies, competitive positions, growth opportunities for existing services, plans

and objectives of management, markets for stock and other matters. These include all statements other than statements of historical fact, including, without limitation, any statements proceeded by,

followed by, or that include the words “targets”, “believes”, “expects”, “aims”, “intends”, “will”, “may”, “anticipates”, “would”, “should”, “could”, “estimates”, “forecast”, “predict”, “continue”

or similar expressions or the negative thereof.
These forward-looking statements, including, among others, those relating to our future business prospects, revenues and income, wherever they may occur in this report and the exhibits to this

report, are essentially estimates reflecting the best judgment of our senior management and involve a number of risks and uncertainties that could cause actual results to differ materially from those

suggested by the forward-looking statements. As a consequence, these forward-looking statements should be considered in light of various important factors, including those set forth in this report.

Important factors that could cause actual results to differ materially from estimates or projections contained in the forward-looking statements include, without limitation: overall economic and business

conditions in South Africa, Papua New Guinea, Australia and elsewhere, estimates of future earnings, and the sensitivity of earnings to the gold and other metals prices, estimates of future gold and

other metals production and sales, estimates of future cash costs, estimates of future cash flows, and the sensitivity of cash flows to the gold and other metals prices, statements regarding future debt

repayments, estimates of future capital expenditures, the success of our business strategy, development activities and other initiatives, estimates of reserves statements regarding future exploration

results and the replacement of reserves, the ability to achieve anticipated efficiencies and other cost savings in connection with past and future acquisitions, fluctuations in the market price of gold, the

occurrence of hazards associated with underground and surface gold mining, the occurrence of labour disruptions, power cost increases as well as power stoppages, fluctuations and usage constraints,

supply chain shortages and increases in the prices of production imports, availability, terms and deployment of capital, changes in government regulation, particularly mining rights and environmental

regulation, fluctuations in exchange rates, the adequacy of the Group’s insurance coverage and socio-economic or political instability in South Africa and Papua New Guinea and other countries in

which we operate.
For a more detailed discussion of such risks and other factors (such as availability of credit or other sources of financing), see the Company’s latest Integrated Annual Report on Form 20-F which is on

file with the Securities and Exchange Commission, as well as the Company’s other Securities and Exchange Commission filings. The Company undertakes no obligation to update publicly or release

any revisions to these forward-looking statements to reflect events or circumstances after the date of this annual report or to reflect the occurrence of unanticipated events, except as required by law.

CONTACT DETAILS

CORPORATE OFFICE

Randfontein Office Park
PO Box 2, Randfontein, 1760, South Africa
Corner Main Reef Road/Ward Avenue
Randfontein, 1759, South Africa
Tel: +27 11 411 2000
Website: www.harmony.co.za

DIRECTORS

P T Motsepe* Chairman
M Motloba*^ Deputy chairman
G P Briggs Chief executive officer
F Abbott Financial director
H E Mashego Executive director
F F T De Buck*^ Lead independent director
J A Chissano*

^, K V Dicks*^, Dr D S S Lushaba*^,

C Markus*^, M Msimang*^, K T Nondumo*^,
V P Pillay *^, J L Wetton*^, A J Wilkens*
* Non-executive
^ Independent

Mozambican

INVESTOR RELATIONS TEAM

Email: HarmonyIR@harmony.co.za

Marian van der Walt
Executive: Corporate and Investor Relations
Tel: +27 (0)11 411 2037
Mobile: +27 (0)82 888 1242
Email: marian@harmony.co.za

Henrika Ninham
Investor Relations Manager
Tel: +27 (0)11 411 2314
Mobile: +27 (0)82 759 1775
Email: henrika@harmony.co.za

COMPANY SECRETARY

Riana Bisschoff
Tel: +27 (0)11 411 6020
Mobile: +27 (0)83 629 4706
Email: riana.bisschoff@harmony.co.za

SOUTH AFRICAN SHARE TRANSFER SECRETARIES

Link Market Services South Africa (Proprietary) Limited
(Registration number 2000/007239/07)
13th Floor, Rennie House
19 Ameshoff Street
Braamfontein, 2001
PO Box 4844, Johannesburg, 2000, South Africa
Tel: +27 86 154 6572
Fax: +27 86 674 2450
Email: meetfax@linkmarketservices.co.za

ADR

DEPOSITARY

Deutsche Bank Trust Company Americas
c/o American Stock Transfer and Trust Company
Peck Slip Station
PO Box 2050, New York, NY 10272-2050
Email queries: db@amstock.com
Toll Free: +1-800-937-5449
Intl: +1-718-921-8137
Fax: +1-718-921-8334

ADR: American Depository Receipts

SPONSOR

J.P. Morgan Equities South Africa (Pty) Ltd
1 Fricker Road, corner Hurlingham Road
Illovo
Johannesburg, 2196
Private Bag X9936, Sandton, 2146, South Africa
Tel: +27 11 507 0300
Fax: +27 11 507 0503

TRADING SYMBOLS

JSE Limited: HAR
New York Stock Exchange, Inc: HMY
Berlin Stock Exchange: HAM1

REGISTRATION NUMBER

1950/038232/06
Incorporated in the Republic of South Africa

ISIN

ZAE000015228

COMPETENT PERSON’S DECLARATION

In South Africa, Harmony employs an ore reserve manager at
each of its operations who takes responsibility for the compilation
and reporting of mineral resources and mineral reserves at
their operations. In Papua New Guinea, competent persons are
appointed for the mineral resources and mineral reserves for
specific projects and operations.
These competent persons, who are full-time employees of
Harmony, consent to the inclusion in the report of the matters
based on the information in the form and context in which it
appears.

· Resources and reserves of South Africa:

Jaco Boshoff, BSc (Hons), MSc, MBA, Pr. Sci. Nat, MSAIMM,
MGSSA, who has 20 years’ relevant experience, is registered
with the South African Council for Natural Scientific Professions
(SACNASP) and is a member of the South African Institute of
Mining and Metallurgy (SAIMM).
Mr Boshoff is Harmony’s Lead Competent Person.

· Resources and reserves of Papua New Guinea:

Gregory Job, BSc, MSc, who has 27 years’ relevant experience and
is a member of the Australian Institute of Mining and Metallurgy
(AusIMM).

For more information on Harmony’s reserves and resources as
at 30 June 2015, please refer to https://www.harmony.co.za/
investors/reporting/annual-reports

Mineral resource and reserve information as at 30 June
2015 has not changed.

Harmony Gold Mining Company Limited

Results for the first quarter FY16 ended 30 September 2015

SHAREHOLDER INFORMATION

Issued ordinary share capital at 30 September 2015

436 187 133

Issued ordinary share capital at 30 June 2015

436 187 133

MARKET CAPITALISATION

At 30 September 2015 (ZARm)

3 764

At 30 September 2015 (US$m)

272

At 30 June 2015 (ZARm)

6 800

At 30 June 2015 (US$m)

560

HARMONY ORDINARY SHARES AND

ADR PRICES

12-month high (1 October 2014 – 30 September
2015) for ordinary shares

15.99

12-month low (1 October 2014 – 30 September 2015)
for ordinary shares

8.40

12-month high (1 October 2014 – 30 September 2015)
for ADRs

1.34

12-month low (1 October 2014 – 30 September 2015)
for ADRs

0.60

FREE FLOAT

100%

ADR RATIO

1:1

JSE LIMITED

HAR

Range for quarter (1 July 2015 – 30 September 2015
closing prices)

R15.99 – R8.40

Average daily volume for the quarter (1 July 2015 –
30 September 2015)

2,196,866 shares

Range for quarter (1 April 2015 – 30 June 2015
closing prices)

R24.34 – R15.59

Average daily volume for the quarter (1 April 2015 –
30 June 2015)

1,677,721 shares

NEW YORK STOCK EXCHANGE

including other US trading platforms

HMY

Range for quarter (1 July 2015 – 30 September 2015
closing prices)

US$1.34 – US$0.60

Average daily volume for the quarter (1 July 2015 –
30 September 2015)

3,565,559 shares

Range for quarter (1 April 2015 – 30 June 2015
closing prices)

US$2.07 – US$1.31

Average daily volume for the quarter (1 April 2015 –
30 June 2015)

2,212,229 shares

INVESTORS’ CALENDAR

Q1 FY16 presentation (webcast and conference
calls only)

5 November 2015

Annual General Meeting

23 November 2015

Q2 FY16 live presentation from Johannesburg

4 February 2016

Q3 FY16 presentation (webcast and conference
calls only)

9 May 2016

Q4 FY16 live presentation from Johannesburg

17 August 2016

CONTENTS

Contact details and competent person’s declaration

Message from the chief executive officer

Operating results – quarter on quarter (Rand/Metric)
(US$/Imperial)

Condensed consolidated income statements (Rand)

Condensed consolidated statements of
comprehensive income (Rand)

Condensed consolidated statements of changes in
equity (Rand)

Condensed consolidated balance sheets (Rand)

Condensed consolidated cash flow statements (Rand)

Notes to the condensed consolidated financial
statements

Segment report (Rand/Metric)

Condensed consolidated income statements (US$)

Condensed consolidated statements of
comprehensive income (US$)

Condensed consolidated statements of changes in
equity (US$)

Condensed consolidated balance sheets (US$)

Condensed consolidated cash flow statements (US$)

Segment report (US$/Imperial)

Development results – Metric and Imperial

MESSAGE FROM THE CHIEF EXECUTIVE OFFICER

During the first quarter of financial year 2016, we saw the benefits
of restructuring and optimising our operations. Gold produced by
our underground South African operations increased by 17%,
with an 8% increase in recovered grade. A further increase in gold
production is expected in the second quarter.

Higher production during the quarter assisted in maintaining
our solid balance sheet. The strong cash flows generated from
our operations allows us to fund our capital expenditure and the
Golpu project in Papua New Guinea.

Harmony is well-positioned to benefit from higher gold prices
at an all-in sustaining cost of R434 829/kg (US$1 040/oz) at our
South African underground operations. We believe the gold price
will remain flat in the medium term. In the long term, we may
see an increase in the gold price, as gold has a long history as
an investment tool and a store of value. It remains a fairly secure
investment and while the price may fluctuate, gold will always be
in demand in some form.

SAFETY

At Harmony, the safety and health of our employees and
contractors is not only a moral imperative but essential for creating
a sustainable, responsible business. Safety, one of our five values,
is a key priority. Without a safe and healthy workforce, we cannot
be productive and profitable. We aim to eliminate and prevent all
fatalities and work-related injuries and illnesses by promoting a
culture that gives priority to health and safety.

We aspire to zero harm. To achieve this goal, continuous
improvement in our safety performance is required. It is with great
sadness that I report the loss of the lives of four of our colleagues.
They were: Pheelo William Ramohlokoane (security officer at
Target), Ezekiel Nonkevu (tramming supervisor at Kusasalethu),
Cancel Nurse Malungane (engineering assistant at Joel) and Piwas
Kesa (truck driver, Hidden Valley).

OPERATIONAL RESULTS

Quarter on quarter total gold production increased by 10% to
8 752 kilograms (281 385oz), largely due to an 8% improvement
in underground tonnes milled and an 8% improvement in the
underground recovered grade.

Gold production increased at the following operations when
compared to the June 2015 quarter:

Bambanani (+170kg)(+5 466oz): recorded a 22% increase in
gold production, due to a 13% increase in recovered grade
and an 8% increase in tonnes milled

Masimong (+196kg)(+6 302oz): a 24% increase in tonnes
milled, combined with an 11% increase in recovered grade,
resulted in a 37% increase in gold production

Kusasalethu (+105kg)(+3 376oz): following the restructuring
of the mine, its recovered grade increased by 15%, resulting
in a 11% increase in gold produced

Phakisa (+252kg)(+8 102oz): kilograms produced increased
by 35%, due to a 16% increase in tonnes milled combined
with a 16% increase in the recovered grade

Target 1 (+61kg)(+1 962oz): the recovered grade increased by
9% and gold production by 6%

Tshepong (+198kg)(+6 366oz): an 18% increase in kilograms
produced was as a result of an 11% increase in tonnes milled
and a 6% increase in recovered grade

Unisel (+117kg)(+3 762oz): a 14% increase in recovered
grade and a 17% increase in tonnes milled, resulted in a 33%
increase in gold produced

Dumps (+51kg)(+1 640oz): gold production was 26% higher,
due to a 19% increase in recovered grade and a 4% increase
in tonnes milled.

Hidden Valley had a very disappointing production quarter.
The operation was suspended due to the fatality in July 2015
and lost 33 production days as a result. An investigation was
completed and all critical controls for high-risk tasks were
identified and reviewed. As a result of this event, production
decreased significantly in the September 2015 quarter, with lower
gold grades and recoveries reflecting the processing of stockpile
material once operations recommenced. Following the fatality, all
pre-stripping activities at Hidden Valley stage 5 have been deferred.

Overall, the increase in Harmony’s total gold production resulted
in a 12% increase in production profit and a 7% increase in
revenue quarter on quarter. Higher production was supported
by a 2% increase in the rand gold price. The rand gold price
received increased from R463 910/kg in the June 2015 quarter to
R473 567/kg, due to an 8% weakening of the rand against the
dollar. During the September 2015 quarter the US dollar gold price
received decreased by 5% to US$1 133/oz (Jun 15: US$1 195/oz).

Quarter on quarter, the cash operating costs for the September
2015 quarter increased by 8% or R260 million (1% or US$2 million),
due to an increase in labour and electricity costs (winter tariffs).
Operational capital expenditure for the September 2015 quarter
decreased by 15% to R516 million (21% to US$40 million).

All-in sustaining costs for all operations decreased by 3%
to R466 061/kg in the September 2015 quarter, compared
to R478 746/kg in the June 2015 quarter (decreased 10%
from US$1 233/oz to US$1 115/oz), while our total South
African operations’ all-in sustaining costs decreased by 7% to
R436 751/kg (14% to US$1 045/oz).

FINANCIAL RESULTS

Revenue
Revenue increased by 7% as a result of the 5% increase in gold sold
to 8 743kg and a 2% increase in the average gold price received at
R473 567/kg (decrease of 5% to US$1 133/oz) in the September
2015 quarter. At the South African operations, revenue increased
by 13% to R4 billion (increase by 5% to US$306 million).

Production costs
Production costs increased by 6% to R3.4 billion (decrease by 1%
to US$265 million) in the September 2015 quarter. The increase is
mainly due to the increase in electricity costs (due to two months
of higher winter tariffs) and an increase in labour costs from
1 July 2015.

Other expenses – net
The increase to R443 million (US$34 million) in the September
2015 quarter is mainly due to the foreign exchange translation loss
of R426 million (US$33 million) recorded on the US$ borrowings.
The rand weakened from US$/R12.16 at 30 June 2015 to

US$/R13.87 at 30 September 2015.

Harmony Gold Mining Company Limited

Results for the first quarter FY16 ended 30 September 2015

Loss per share
The loss per share of 120 SA cents (9 US cents) for the September
2015 quarter reduced from the loss per share of 725 SA cents
(60 US cents) for the June 2015 quarter. If it was not for the
translation loss, Harmony would have recorded a smaller loss of
22 SA cents (2 US cents) per share.

Cash and cash equivalents
Cash balances increased by R420 million to R1.5 billion
(US$19 million to US$107 million). During the September 2015
quarter, positive cash was generated by operating activities net of
investing activities of R122 million (US$10 million).

Borrowings
R300 million (US$23 million) was drawn down on the R1.3 billion
(US$93.7 million) Nedbank facility during the September 2015
quarter. The drawn down amount on the US$ revolving credit
facility remained unchanged at US$250 million. The increase in
the balance in rand terms was due to the weakening of the rand
exchange rate against the dollar.

WAGE NEGOTIATIONS

Harmony reached a three-year wage agreement with the National
Union of Mineworkers, United Association of South Africa and
Solidarity, effective from 1 July 2015. Increases range from 6% for
miners, artisans and officials to 10.4% for category 4 employees.
The average wage increase on the total South African wage bill for
FY16 is approximately 6.5%.

We believe that we have achieved what we set out to do – reaching an
agreement which ensures that we remain sustainable as a company
and at the same time limiting job losses.

GOLPU

Sustaining and growing quality, profitable assets is key to our
long-term strategy. In contrast to South Africa where our mines
are all mature operations, we are in the process of developing a
greenfields project in Papua New Guinea (Golpu). The feasibility
study on stage 1 and the prefeasibility on stage 2 are due to be
completed in December 2015. This, together with the completion
of a pre-development agreement with the Papua New Guinean
government, will add more certainty to the development of a mine
at Golpu.

EXPLORATION

Our exploration programme has enjoyed, and continues to enjoy,
considerable success in locating copper-gold mineralisation.
A demonstration of this is that between the years 2005 and
2014, the Golpu resource grew from 100 million tonnes to
1 billion tonnes (a ten fold increase). In an environment where
very little is being spent on exploration and with the scarcity of
new major copper and gold discoveries, the results from the
Kili Teke grassroots prospect are very encouraging. As the extent
of the surface copper-gold geochemical footprint is yet to be
tested, there is potential to develop this find into a major copper-
gold deposit similar to Golpu, Ok Tedi or Frieda River which have
resource cut-off grades of around 0.2% copper. New discoveries
are one of the best avenues to create shareholder value.

Drill results received for the quarter were highly encouraging and
continued to expand the mineralised zone at Kili Teke:

KTDD013: 542m @ 0.58% Cu, 0.41 g/t Au from 90m

KTDD014:

509m @ 0.38% Cu, 0.2 g/t Au from 358m including
144m @ 0.53% Cu, 0.23 g/t Au from 610m

KTDD015:

466m @ 0.34% Cu, 0.25 g/t Au from 128m including
290m @ 0.44% Cu, 0.34 g/t Au from 129m.

GLOBAL RECOGNITION FOR BEING

ENVIRONMENTALLY RESPONSIBLE

Post quarter end, Harmony was advised that it is one of only eight
companies globally that was awarded an A grade for its water
security and water management efforts by the CDP, formerly the
Carbon Disclosure Project. Information provided by 405 listed
companies was independently assessed against the CDP’s scoring
methodology, developed in collaboration with leading peers and
experts in corporate water stewardship and ranked accordingly.

We recognise that our business and business processes have, and
can have, a negative effect on surrounding communities and the
natural environment, and that it is our responsibility to avoid,
mitigate, manage and limit these impacts. It is very rewarding to
be acknowledged for our efforts to secure and manage water.

INTEGRATED ANNUAL REPORT AND FORM 20F

Harmony posted its suite of reports for the financial year ended
30 June 2015 (FY15) on 23 October 2015. Our reports tell the
story of Harmony. We aim to show readers what Harmony has
done and achieved, what we plan to do and achieve in the future
and how we intend to get there. The report reflects on our journey
in FY15 – we explain our external and internal environments, our
strategy and business model, together with our objectives and
how we performed against these.

Harmony’s Report to Shareholders, which includes the
company’s notice of its annual general meeting and summarised
consolidated annual financial statements, is available at

http://www.harmony.co.za/investors/reporting/annual-reports.

The annual general meeting of the company will be held at
the Hilton Hotel, 138 Rivonia Road, Sandton, Johannesburg,
South Africa, on Monday, 23 November 2015, at 11:00 (SA time)
to transact the business as stated in the notice of the annual
general meeting.

HARMONY’S FUTURE

Unlocking the value in each of our assets – which is crucial to our
strategy – involves positioning each operation to be profitable by
driving production and limiting cost increases to create free cash
flow. We believe our plans are realistic and achievable and we are
on track to achieve our annual guidance.

We are one of the few companies that continue to spend on
exploration and to find excellent deposits. Our company has an
exciting future and is worth investing in.

Harmony is led by a competent and well-experienced executive
team, supported by first-rate operational teams. The process to
find a suitable candidate to fill my position as chief executive
officer is ongoing.

Graham Briggs
Chief Executive Officer

Harmony Gold Mining Company Limited

Results for the first quarter FY16 ended 30 September 2015

Three
months
ended

South Africa

Hidden

Valley

Total

Harmony

Underground production

Surface production

Total

South

Africa

Kusasalethu

Doornkop

Phakisa

Tshepong

Masimong

Target 1

Bambanani

Joel

Unisel

Total

Underground

Phoenix

Dumps

Kalgold

Total

Surface

Ore milled

– t'000

Sep-15

227

164

178

281

189

183

139

112

1 537

1 644

676

360

2 680

4 217

316

4 533

Jun-15

235

149

153

253

153

188

139

1 425

1 581

648

367

2 596

4 021

451

4 472

Gold produced

– kg

Sep-15

1 020

665

982

1 319

728

1 006

939

540

477

7 676

210

251

269

730

8 406

346

8 752

Jun-15

915

667

730

1 121

532

945

769

533

360

6 572

207

200

259

666

7 238

739

7 977

– oz

Sep-15

32 794

21 380

31 572

42 407

23 406

32 344

30 190

17 361

15 336

246 790

6 752

8 070

8 649

23 471

270 261

11 124

281 385

Jun-15

29 418

21 445

23 470

36 041

17 104

30 382

24 724

17 136

11 574

211 294

6 655

6 430

8 327

21 412

232 706

23 759

256 465

Yield

– g/tonne

Sep-15

4.49

4.05

5.52

4.69

3.85

5.50

14.67

3.88

4.26

4.99

0.13

0.37

0.75

0.27

1.99

1.09

1.93

Jun-15

3.89

4.48

4.77

4.43

3.48

5.03

13.03

3.83

3.75

4.61

0.13

0.31

0.71

0.26

1.80

1.64

1.78

Cash
operating
costs

– R/kg

Sep-15

479 826

409 116

348 017

347 719

365 380

314 830

222 508

389 857

388 352

358 168

393 214

385 948

515 428

435 751

364 906

868 384

384 810

Jun-15

475 130

405 966

406 418

367 940

458 677

334 152

237 464

369 006

459 372

383 311

376 024

375 125

392 251

382 065

383 197

453 077

389 671

– $/oz

Sep-15

1 148

979

833

832

874

753

532

933

929

857

941

923

1 233

1 043

873

2 078

921

Jun-15

1 223

1 045

1 047

947

1 181

860

611

950

1 183

987

968

966

1 010

984

987

1 167

1 003

– R/tonne

Sep-15

2 156

1 659

1 920

1 632

1 407

1 731

3 265

1 515

1 654

1 789

143

385

119

727

951

743

Jun-15

1 850

1 817

1 939

1 630

1 595

1 680

3 095

1 415

1 723

1 768

116

277

690

742

695

Gold sold

– kg

Sep-15

1 072

680

966

1 297

716

970

924

555

470

7 650

212

263

266

741

8 391

352

8 743

Jun-15

1 044

673

759

1 166

553

952

800

578

374

6 899

208

194

274

676

7 575

746

8 321

– oz

Sep-15

34 466

21 862

31 058

41 699

23 020

31 186

29 707

17 844

15 111

245 953

6 816

8 456

8 552

23 824

269 777

11 317

281 094

Jun-15

33 565

21 637

24 402

37 488

17 779

30 607

25 721

18 583

12 024

221 806

6 687

6 237

8 809

21 733

243 539

23 984

267 523

Revenue

(R'000)

Sep-15

508 322

322 224

457 404

613 671

339 013

462 161

435 752

262 500

222 241

3 623 288

100 421

124 576

125 932

350 929

3 974 217

166 176

4 140 393

Jun-15

484 792

312 460

351 852

540 523

256 344

442 291

370 676

267 615

173 455

3 200 008

96 678

89 965

126 733

313 376

3 513 384

346 809

3 860 193

Cash operating
costs

(R'000)

Sep-15

489 423

272 062

341 753

458 642

265 997

316 719

208 935

210 523

185 244

2 749 298

82 575

96 873

138 650

318 098

3 067 396

300 461

3 367 857

Jun-15

434 744

270 779

296 685

412 461

244 016

315 774

182 610

196 680

165 374

2 519 123

77 837

75 025

101 593

254 455

2 773 578

334 824

3 108 402

Inventory
movement

(R'000)

Sep-15

25 452

5 400

(5 714)

(6 134)

(4 334)

(10 296)

(4 696)

5 656

(2 725)

2 609

589

5 155

(2 201)

3 543

6 152

65 767

71 919

Jun-15

52 944

3 851

13 463

12 268

9 071

2 758

12 702

11 327

6 981

125 365

(160)

(2 417)

5 463

2 886

128 251

(3 657)

124 594

Operating costs

(R'000)

Sep-15

514 875

277 462

336 039

452 508

261 663

306 423

204 239

216 179

182 519

2 751 907

83 164

102 028

136 449

321 641

3 073 548

366 228

3 439 776

Jun-15

487 688

274 630

310 148

424 729

253 087

318 532

195 312

208 007

172 355

2 644 488

77 677

72 608

107 056

257 341

2 901 829

331 167

3 232 996

Production
profit

(R'000)

Sep-15

(6 553)

44 762

121 365

161 163

77 350

155 738

231 513

46 321

39 722

871 381

17 257

22 548

(10 517)

29 288

900 669

(200 052)

700 617

Jun-15

(2 896)

37 830

41 704

115 794

3 257

123 759

175 364

59 608

1 100

555 520

19 001

17 357

19 677

56 035

611 555

15 642

627 197

($'000)

Sep-15

(504)

3 444

9 337

12 399

5 951

11 982

17 811

3 563

3 056

67 039

1 328

1 735

(810)

2 253

69 292

(15 392)

53 900

Jun-15

(239)

3 132

3 453

9 586

270

10 246

14 518

4 934

45 991

1 573

1 437

1 629

4 639

50 630

1 295

51 925

Capital
expenditure

(R'000)

Sep-15

89 877

46 623

84 984

65 588

27 599

79 317

23 780

53 186

15 590

486 544

107

1 511

11 021

12 639

499 183

16 481

515 664

Jun-15

113 597

57 673

96 529

72 792

34 140

79 055

22 172

49 878

20 228

546 064

1 143

1 397

12 189

14 729

560 793

47 469

608 262

($'000)

Sep-15

6 914

3 587

6 538

5 046

2 123

6 102

1 829

4 092

1 199

37 430

116

848

972

38 402

1 268

39 670

Jun-15

9 405

4 775

7 992

6 026

2 826

6 545

1 836

4 129

1 675

45 209

116

1 009

1 220

46 429

3 930

50 359

Cash Operating
Cost and Capital

– R/kg

Sep-15

567 941

479 226

434 559

397 445

403 291

393 674

247 833

488 350

421 036

421 553

393 724

391 968

556 398

453 064

424 290

916 017

443 730

Jun-15

599 280

492 432

538 649

432 875

522 850

417 808

266 296

462 585

515 561

466 401

381 546

382 110

439 313

404 180

460 676

517 311

465 923

– $/oz

Sep-15

1 359

1 147

1 040

951

965

942

593

1 169

1 007

1 009

942

938

1 331

1 084

1 015

2 192

1 062

Jun-15

1 543

1 268

1 387

1 115

1 346

1 076

686

1 191

1 328

1 201

983

984

1 131

1 041

1 186

1 332

1 200

All-in
sustaining
costs

– R/kg

Sep-15

581 984

490 361

450 652

413 998

428 847

412 106

250 346

451 236

443 126

434 829

393 684

404 837

574 506

462 553

436 751 1 163 868

466 061

Jun-15

593 635

516 120

550 617

441 458

543 746

435 177

278 032

413 206

538 079

475 031

379 144

408 253

451 333

416 758

469 467

573 007

478 746

– $/oz

Sep-15

1 393

1 173

1 078

991

1 026

986

599

1 080

1 060

1 040

942

969

1 375

1 107

1 045

2 836

1 115

Jun-15

1 529

1 329

1 418

1 137

1 400

1 121

716

1 064

1 386

1 223

976

1 051

1 162

1 073

1 209

1 467

1 233

OPERATING RESULTS – QUARTER ON QUARTER (RAND/METRIC) (US$/IMPERIAL)

Quarter ended

Year ended

30 September

30 June

30 September

30 June

2015

2015

2014

2015

Figures in million

Note

(Unaudited)

(Unaudited)

(Audited)

Revenue

4 140

3 860

4 431

15 435

Cost of sales

(4 088)

(7 316)

(4 319)

(19 053)

Production costs

(3 439)

(3 233)

(3 518)

(12 632)

Amortisation and depreciation

(555)

(624)

(650)

(2 472)

Impairment of assets

–

(3 471)

–

(3 471)

Other items

(94)

(151)

(478)

Gross profit/(loss)

(3 456)

112

(3 618)

Corporate, administration and other expenditure

(89)

(95)

(111)

(378)

Social investment expenditure

(11)

(12)

(24)

(71)

Exploration expenditure

(43)

(44)

(85)

(263)

Profit on sale of property, plant and equipment

–

Loss on scrapping of property, plant and equipment

–

(61)

–

(491)

Other expenses (net)

(443)

(12)

(187)

(378)

Operating loss

(532)

(3 674)

(295)

(5 193)

Loss from associates

–

(25)

–

(25)

Profit on disposal of investments

–

Net gain/(loss) on financial instruments

(8)

(15)

Investment income

229

Finance cost

(71)

(61)

(65)

(264)

Loss before taxation

(554)

(3 714)

(302)

(5 240)

Taxation

562

704

Normal taxation

(1)

Deferred taxation

558

699

Net loss for the period

(521)

(3 152)

(266)

(4 536)

Attributable to:

Owners of the parent

(521)

(3 152)

(266)

(4 536)

Loss per ordinary share (cents)

Basic loss

(120)

(725)

(61)

(1 044)

Diluted loss

(120)

(725)

(61)

(1 044)

The accompanying notes are an integral part of these condensed consolidated financial statements.

CONDENSED CONSOLIDATED INCOME STATEMENTS (RAND)

The condensed consolidated financial statements for the three months ended 30 September 2015 have been prepared by Harmony
Gold Mining Company Limited’s corporate reporting team headed by Herman Perry. This process was supervised by the financial
director, Frank Abbott and approved by the board of Harmony Gold Mining Company Limited. These financials have not been audited
or independently reviewed.

Harmony Gold Mining Company Limited

Results for the first quarter FY16 ended 30 September 2015

Figures in million

Share

capital

Other

reserves

Accumulated

loss

Total

Balance – 30 June 2015

28 324

3 787

(5 358)

26 753

Share-based payments

–

Net loss for the period

–

(521)

Other comprehensive income for the period

–

216

–

216

Balance – 30 September 2015

28 324

4 045

(5 879)

26 490

Balance – 30 June 2014

28 325

3 539

(822)

31 042

Share-based payments

–

Net loss for the period

–

(266)

Other comprehensive income for the period

–

179

–

179

Balance – 30 September 2014

28 325

3 787

(1 088)

31 024

The accompanying notes are an integral part of these condensed consolidated financial statements.

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (RAND)

Quarter ended

Year ended

30 September

30 June

30 September

30 June

2015

2015

2014

2015

Figures in million

(Unaudited)

(Unaudited)

(Audited)

Net loss for the period

(521)

(3 152)

(266)

(4 536)

Other comprehensive income/(loss) for the period,
net of income tax

216

(79)

179

Items that may be reclassified subsequently to profit or loss:

216

(84)

179

Foreign exchange translation

216

(84)

179

Items that will not be reclassified to profit or loss:

–

Remeasurement of retirement benefit obligation

Actuarial gain recognised during the year

–

Deferred taxation thereon

–

(3)

–

(3)

Total comprehensive loss for the period

(305)

(3 231)

(87)

(4 477)

Attributable to:
Owners of the parent

(305)

(3 231)

(87)

(4 477)

The accompanying notes are an integral part of these condensed consolidated financial statements.

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (RAND)

for the three months ended 30 September 2015 (Unaudited)

30 September

30 June

30 September

2015

2015

2014

Figures in million

Note

(Unaudited)

(Audited)

(Unaudited)

ASSETS

Non-current assets
Property, plant and equipment

29 808

29 548

33 232

Intangible assets

882

885

Restricted cash

Restricted investments

2 408

2 384

2 329

Deferred tax assets

–

Investments in financial assets

Inventories

Trade and other receivables

–

Total non-current assets

33 271

32 986

36 614

Current assets
Inventories

1 263

1 292

1 390

Trade and other receivables

754

746

693

Income and mining taxes

Restricted cash

Cash and cash equivalents

1 487

1 067

2 281

Total current assets

3 548

3 151

4 473

Total assets

36 819

36 137

41 087

EQUITY AND LIABILITIES

Share capital and reserves
Share capital

28 324

28 324

28 325

Other reserves

4 045

3 787

Accumulated loss

(5 879)

(5 358)

(1 088)

Total equity

26 490

26 753

31 024

Non-current liabilities
Deferred tax liabilities

1 871

1 906

2 640

Provision for environmental rehabilitation

2 292

2 218

2 148

Retirement benefit obligation

167

163

251

Other non-current liabilities

Borrowings

4 129

3 399

–

Total non-current liabilities

8 498

7 723

5 079

Current liabilities
Borrowings

–

3 052

Income and mining taxes

Trade and other payables

1 830

1 660

1 923

Total current liabilities

1 831

1 661

4 984

Total equity and liabilities

36 819

36 137

41 087

The accompanying notes are an integral part of these condensed consolidated financial statements.

CONDENSED CONSOLIDATED BALANCE SHEETS (RAND)

Harmony Gold Mining Company Limited

Results for the first quarter FY16 ended 30 September 2015

CONDENSED CONSOLIDATED CASH FLOW STATEMENTS (RAND)

Quarter ended

Year ended

30 September

30 June

30 September

30 June

2015

2015

2014

2015

Figures in million

Note

(Unaudited)

(Unaudited)

(Audited)

Cash flow from operating activities
Cash generated by operations

696

568

1 071

1 928

Interest and dividends received

101

Interest paid

–

(48)

(23)

(108)

Income and mining taxes (paid)/refunded

–

( 5)

Cash generated by operating activities

719

540

1 098

2 006

Cash flow from investing activities
(Increase)/decrease in restricted cash

(3)

( 4)

Decrease in restricted investments

Loan to associate

–

(120)

Net additions to property, plant and equipment

(595)

(718)

(651)

(2 827)

Cash utilised by investing activities

(597)

(711)

(646)

(2 908)

Cash flow from financing activities
Borrowings raised

300

541

–

941

Borrowings repaid

–

(11)

–

(793)

Cash generated by financing activities

300

530

–

148

Foreign currency translation adjustments

( 2)

–

(8)

Net increase/(decrease) in cash and cash equivalents

420

366

452

(762)

Cash and cash equivalents – beginning of period

1 067

701

1 829

Cash and cash equivalents – end of period

1 487

1 067

2 281

1 067

The accompanying notes are an integral part of these condensed consolidated financial statements.

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

for the three months ended 30 September 2015 (Rand)

Accounting policies

Basis of accounting
The condensed consolidated financial statements for the three months ended 30 September 2015 have been prepared in accordance
with IAS 34, Interim Financial Reporting, JSE Listings Requirements, SAICA Financial Reporting Guides as issued by the Accounting
Practices Committee and Financial Pronouncements as issued by the Financial Reporting Standards Council, and in the manner
required by the Companies Act of South Africa. They should be read in conjunction with the annual financial statements for the
year ended 30 June 2015, which have been prepared in accordance with International Financial Reporting Standards as issued by
the International Accounting Standards Board (IFRS). The accounting policies are consistent with those described in the annual
financial statements, except for the adoption of applicable revised and/or new standards issued by the International Accounting
Standards Board.

Cost of sales

Quarter ended

Year ended

30 September

30 June

30 September

30 June

2015

2015

2014

2015

Figures in million

(Unaudited)

(Unaudited)

(Audited)

Production costs – excluding royalty

3 414

3 217

3 486

12 537

Royalty expense

Amortisation and depreciation

555

624

650

2 472

Impairment of assets¹

–

3 471

–

3 471

Rehabilitation expenditure/(credit)²

(41)

(6)

Care and maintenance cost of restructured shafts³

106

Employment termination and restructuring costs

251

Share-based payments

208

Other

(1)

(80)

(1)

(81)

Total cost of sales

4 088

7 316

4 319

19 053

The impairment in the June 2015 quarter consists of an impairment of R2.11 billion on Hidden Valley, R1.04 billion on Doornkop, R278 million on Phakisa and
R43 million on Freddies 9.

Included in the total for the June 2015 quarter is a credit of R61 million relating to the change in estimate following the annual reassessment.

Included in the September 2015 quarter is a credit of R15 million relating to an insurance claim approved on the Brand 1A vent shaft explosion. Included in the

total for the June 2015 quarter is R20 million reparation costs relating to the Brand 1A vent shaft explosion.

Included in the total for the June 2015 quarter is a credit of R87 million relating to the reduction in employees qualifying for post-retirement benefits.

Taxation

The deferred tax credit for the June 2015 quarter includes a credit of R558 million following the net decrease in the deferred tax rates
year on year for the South African companies and impairments recognised on property, plant and equipment. Included in the total
is also a debit of R64 million relating to the derecognition of the Australian deferred tax asset.

Harmony Gold Mining Company Limited

Results for the first quarter FY16 ended 30 September 2015

Earnings/(loss) per share

Quarter ended

Year ended

30 September

30 June

30 September

30 June

2015

2015

2014

2015

(Unaudited)

(Unaudited)

(Audited)

Weighted average number of shares (million)

435.1

435.0

434.1

434.4

Weighted average number of diluted shares (million)

435.7

438.2

435.4

438.1

Total earnings/(loss) per share (cents):
Basic loss

(120)

(725)

(61)

(1 044)

Diluted loss

(120)

(725)

(61)

(1 044)

Headline earnings/(loss)

(120)

(61)

(189)

Diluted headline earnings/(loss)

(120)

(61)

(189)

Figures in million
Reconciliation of headline earnings/(loss):
Net loss

(521)

(3 152)

(266)

(4 536)

Adjusted for:
Profit on disposal of investments¹

–

(4)

–

(4)

Impairment of assets

–

3 471

–

3 471

Taxation effect on impairment of assets

–

(169)

–

(169)

Profit on sale of property, plant and equipment

(2)

(6)

–

(6)

Taxation effect of (loss)/profit on sale of property,
plant and equipment

–

(1)

–

(1)

Loss on scrapping of property, plant and equipment

–

491

Taxation effect on loss of scrapping of property,
plant and equipment

–

(9)

–

(67)

Headline earnings/(loss)

(523)

191

(266)

(821)

There is no taxation effect on this item.

Borrowings

During the September 2015 quarter, R300 million was drawn down on the R1.3 billion Nedbank revolving credit facility. During the
June 2015 quarter, US$45 million (R541 million) was drawn down on the US$ revolving credit facility. The weakening of the Rand
against the US$ resulted in a foreign exchange translation loss of R426 million being recorded in the September 2015 quarter (June
2015 quarter: R4 million), increasing the Borrowings balance and Other expenses (net) total.

US$ facility

Rand facility

Figures in million

US dollar

SA rand

Borrowings summary
Facility

250

1 300

Drawn down

250

700

Undrawn committed borrowing facilities

–

600

Maturity

February 2018 December 2016

Interest rate

LIBOR + 3%

JIBAR + 3.5%

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

CONTINUED

for the three months ended 30 September 2015 (Rand)

Financial risk management activities

Fair value determination

The fair value levels of hierarchy are as follows:

Level 1: Quoted prices (unadjusted) in active markets for identical assets;

Level 2: Inputs other than quoted prices included within level 1 that are observable for the asset, either directly or indirectly (that is,

as prices) or indirectly (that is derived from prices);

Level 3: Inputs for the asset that are not based on observable market data (that is unobservable inputs).

The following table presents the group’s assets and liabilities that are measured at fair value by level:

30 September

30 June

30 September

2015

2015

2014

Figures in million

(Unaudited)

(Audited)

(Unaudited)

Available-for-sale financial assets¹

Level 1

–

Level 2

–

Level 3

Fair value through profit or loss²

Level 1

–

Level 2

532

538

632

Level 3

–

Level 3 fair values have been valued by the directors by performing independent valuations on an annual basis.

The majority of the level 2 fair values are directly derived from the Top 40 index on the JSE, and are discounted at market interest rate. This relates to equity-

linked deposits in the group’s environmental rehabilitation trust funds (included in restricted investments).

Net additions to property, plant and equipment

Quarter ended

Year ended

30 September

30 June

30 September

30 June

2015

2015

2014

2015

Figures in million

(Unaudited)

(Unaudited)

(Audited)

Capital expenditure – operations

516

608

598

2 470

Capital and capitalised exploration and evaluation
expenditure for Wafi-Golpu

119

Additions resulting from stripping activities at Hidden Valley

236

Other

(1)

(8)

Net additions

595

718

651

2 827

Commitments and contingencies

30 September

30 June

30 September

2015

2015

2014

Figures in million

(Unaudited)

(Audited)

(Unaudited)

Capital expenditure commitments:
Contracts for capital expenditure

126

158

206

Authorised by the directors but not contracted for

1 980

257

2 359

2 106

415

2 565

This expenditure will be financed from existing resources and, where appropriate, borrowings.

Contingent liabilities

For a detailed disclosure on contingent liabilities refer to Harmony’s annual financial statements for the financial year ended 30 June
2015. There were no significant changes in contingencies since 30 June 2015.

Harmony Gold Mining Company Limited

Results for the first quarter FY16 ended 30 September 2015

Related parties

Key management personnel are those persons having authority and responsibility for planning, directing and controlling the activities
of the group, directly or indirectly, including any director (whether executive or otherwise) of the group.

On 27 September 2015, 2 259 performance shares (ordinary shares) vested in the name of the chief executive officer, Graham Briggs.

Harmony has signed a R150 million guarantee for the ARM Broad Based Economic Empowerment (BBEE) Trust, a member of the
African Rainbow Minerals (ARM) group. The guarantee is for additional security for the ARM BEE Trust loan due to Nedbank Limited.
The fair value of the guarantee was R15 million at 30 September 2015, and has been recorded in Other expenses (net) and Trade
and other payables.

10. Subsequent events

There were no subsequent events to be disclosed.

11. Segment report

The segment report follows on page 15.

12. Reconciliation of segment information to condensed consolidated income statements and balance sheets

Three months ended

30 September

30 September

2015

2014

Figures in million

(Unaudited)

(Unaudited)

The “Reconciliation of segment information to condensed consolidated financial statements”
line item in the segment report is broken down in the following elements, to give a better
understanding of the differences between the financial statements and segment report:
Reconciliation of production profit to gross profit
Total segment revenue

4 140

4 431

Total segment production costs

(3 439)

(3 518)

Production profit per segment report

701

913

Depreciation

(555)

(650)

Other cost of sales items

(94)

(151)

Gross profit as per income statements¹

112

The reconciliation was done up to the first recognisable line item on the income statement. The reconciliation will follow the income statement after that.

30 September

30 September

2015

2014

Figures in million

(Unaudited)

(Unaudited)

Reconciliation of total segment mining assets to
consolidated property, plant and equipment
Property, plant and equipment not allocated to a segment
Mining assets

752

779

Undeveloped property

5 139

5 139

Other non-mining assets

192

143

Wafi-Golpu assets

1 621

1 140

7 704

7 201

Revenue

30 September

Production cost

30 September

Production

profit/(loss)

30 September

Mining assets
30 September

Capital

expenditure^#

30 September

Kilograms

produced

30 September

Tonnes milled
30 September

2015

2014

2015

2014

2015

2014

2015

2014

2015

2014

2015

2014

2015

2014

R million

t’000

South Africa
Underground
Kusasalethu

508

636

515

582

(7)

3 648

3 666

124

1 020

1 334

227

290

Doornkop

322

309

277

309

–

2 236

3 343

665

619

164

136

Phakisa

457

385

336

298

121

4 290

4 611

982

855

178

158

Tshepong

614

486

452

407

162

4 051

3 959

1 319

1 078

281

259

Masimong

339

315

262

258

841

1 068

728

698

189

185

Target 1

462

484

306

312

156

172

2 818

2 785

1 006

1 042

183

183

Bambanani

436

328

204

174

232

154

814

834

939

727

Joel

263

279

216

223

624

468

540

533

139

146

Unisel

222

215

183

177

580

635

477

477

112

114

Target 3^(a)

–

205

–

162

–

531

551

–

442

–

Surface
All other surface operations

351

381

322

310

484

475

730

781

2 680

2 638

Total South Africa

3 974

4 023

3 073

3 212

901

811

20 917

22 395

499

575

8 406

8 586

4 217

4 249

International
Hidden Valley

166

408

366

306

(200)

102

1 187

3 636

346

849

316

521

Total international

166

408

366

306

(200)

102

1 187

3 636

346

849

316

521

Total operations

4 140

4 431

3 439

3 518

701

913

22 104

26 031

516

596

8 752

9 435

4 533

4 770

Reconciliation of the segment
information to the condensed
consolidated financial statements
(refer to note 12)

–

7 704

7 201

4 140

4 431

3 439

3 518

29 808

33 232

#

Capital expenditure for international operations excludes expenditure spend on Wafi-Golpu of R61 million (2014: R15 million).

(a)

Target 3 was placed on care and maintenance in October 2014.

SEGMENT REPORT (RAND/METRIC)

for the three months ended 30 September 2015 (Unaudited)

Harmony Gold Mining Company Limited

Results for the first quarter FY16 ended 30 September 2015

16

US$ RESULTS

FOR THE FIRST QUARTER ENDED

30 SEPTEMBER 2015

Harmony Gold Mining Company Limited

(“Harmony” or “Company”)

Incorporated in the Republic of South Africa

Registration number 1950/038232/06

JSE share code: HAR | NYSE share code: HMY | ISIN: ZAE000015228

Q1 FY16

17

CONDENSED CONSOLIDATED INCOME STATEMENTS (US$)

(Convenience translation)

Figures in million

Quarter ended

Year ended

30 September

2015

(Unaudited)

30 June

2015

(Unaudited)

30 September

2014

(Unaudited)

30 June

2015

(Audited)

Revenue

319

320

412

1 348

Cost of sales

(315)

(606)

(401)

(1 645)

Production costs

(265)

(268)

(327)

(1 103)

Amortisation and depreciation

(43)

(52)

(60)

(216)

Impairment of assets

–

(287)

–

(285)

Other items

(7)

1

(14)

(41)

Gross profit/(loss)

4

(286)

11

(297)

Corporate, administration and other expenditure

(7)

(8)

(10)

(33)

Social investment expenditure

(1)

(1)

(2)

(6)

Exploration expenditure

(3)

(4)

(8)

(23)

Profit on sale of property, plant and equipment

–

–

–

1

Loss on scrapping of property, plant and equipment

–

(5)

–

(42)

Other expenses (net)

(34)

(1)

(18)

(33)

Operating loss

(41)

(305)

(27)

(433)

Loss from associates

–

(2)

–

(2)

Net gain/(loss) on financial instruments

(1)

(1)

1

1

Investment income

4

5

4

20

Finance cost

(5)

(5)

(6)

(22)

Loss before taxation

(43)

(308)

(28)

(436)

Taxation

3

47

3

62

Normal taxation

–

–

–

–

Deferred taxation

3

47

3

62

Net loss for the period

(40)

(261)

(25)

(374)

Attributable to:

Owners of the parent

(40)

(261)

(25)

(374)

Loss per ordinary share (cents)
Basic loss

(9)

(60)

(6)

(86)

Diluted loss

(9)

(60)

(6)

(86)

The currency conversion average rates for the quarter ended: September 2015: US$1 = R13.00 (June 2015: US$1 = R12.08, September
2014: US$1 = R10.77). For year ended: June 2015: US$1 = R11.45.

The income statement for the year ended 30 June 2015 has been extracted from the 2015 annual financial statements.

Note on convenience translations

Except where specific statements have been extracted from 2015 annual financial statements, the requirements of IAS 21, The Effects of
the Changes in Foreign Exchange Rates, have not necessarily been applied in the translation of the US Dollar financial statements presented
on pages 17 to 21.

Harmony Gold Mining Company Limited

Results for the first quarter FY16 ended 30 September 2015

18

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (US$)

(Convenience translation)

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (US$)

for the three months ended 30 September 2015 (Convenience translation) (Unaudited)

Figures in million

Quarter ended

Year ended

30 September

2015

(Unaudited)

30 June

2015

(Unaudited)

30 September

2014

(Unaudited)

30 June

2015

(Audited)

Net loss for the period

(40)

(261)

(25)

(374)

Other comprehensive income/(loss) for the period, net of income tax

17

(7)

17

(367)

Items that may be reclassified subsequently to profit or loss:

17

(7)

17

(368)

Foreign exchange translation

17

(7)

17

(368)

Items that will not be reclassified to profit or loss:

–

–

–

1

Remeasurement of retirement benefit obligation

Actuarial gain recognised during the year

–

–

–

1

Deferred taxation thereon

–

–

–

–

Total comprehensive loss for the period

(23)

(268)

(8)

(741)

Attributable to:
Owners of the parent

(23)

(268)

(8)

(741)

The currency conversion average rates for the quarter ended: September 2015: US$1 = R13.00 (June 2015: US$1 = R12.08, September
2014: US$1 = R10.77). For year ended: June 2015: US$1 = R11.45.

The statement of comprehensive income for the year ended 30 June 2015 has been extracted from the 2015 annual financial statements.

Figures in million

Share

capital

Other

reserves

Accumulated

loss

Total

Balance – 30 June 2015

2 043

273

(385)

1 931

Share-based payments

–

2

–

2

Net loss for the period

–

–

(38)

(38)

Other comprehensive income for the period

–

16

–

16

Balance – 30 September 2015

2 043

291

(423)

1 911

Balance – 30 June 2014

2 503

313

(73)

2 743

Share-based payments

–

6

–

6

Net loss for the period

–

–

(23)

(23)

Other comprehensive income for the period

–

16

–

16

Balance – 30 September 2014

2 503

335

(96)

2 742

The currency conversion closing rates for the three months ended 30 September 2015: US$1 = R13.87 (September 2014: US$1 = R11.32).

The statement of changes in equity for the year ended 30 June 2015 has been extracted from the 2015 annual financial statements.

19

CONDENSED CONSOLIDATED BALANCE SHEETS (US$)

(Convenience translation)

Figures in million

At

30 September

2015

(Unaudited)

At

30 June

2015

(Unaudited)

At

30 September

2014

(Unaudited)

ASSETS

Non-current assets
Property, plant and equipment

2 150

2 430

2 937

Intangible assets

64

73

78

Restricted cash

4

4

3

Restricted investments

174

196

206

Deferred tax assets

–

–

7

Inventories

3

3

4

Trade and other receivables

6

7

–

Total non-current assets

2 401

2 713

3 235

Current assets
Inventories

91

106

123

Trade and other receivables

54

62

61

Income and mining taxes

2

2

8

Restricted cash

1

1

1

Cash and cash equivalents

107

88

202

Total current assets

255

259

395

Total assets

2 656

2 972

3 630

EQUITY AND LIABILITIES

Share capital and reserves
Share capital

2 043

2 329

2 503

Other reserves

291

311

335

Accumulated loss

(423)

(440)

(96)

Total equity

1 911

2 200

2 742

Non-current liabilities
Deferred tax liabilities

135

157

233

Provision for environmental rehabilitation

165

182

190

Retirement benefit obligation

12

13

22

Other non-current liabilities

3

3

4

Borrowings

298

280

–

Total non-current liabilities

613

635

449

Current liabilities
Borrowings

–

–

270

Income and mining taxes

–

–

1

Trade and other payables

132

137

168

Total current liabilities

132

137

439

Total equity and liabilities

2 656

2 972

3 630

The balance sheet for September 2015 converted at a conversion rate of US$1 = R13.87 (June 2015: US$1 = R12.16, September 2014:
US$1 = R11.32).

Harmony Gold Mining Company Limited

Results for the first quarter FY16 ended 30 September 2015

20

CONDENSED CONSOLIDATED CASH FLOW STATEMENTS (US$)

(Convenience translation)

Quarter ended

Year ended

30 September

30 June 30 September

30 June

2015

2015

2014

2015

Figures in million

(Unaudited)

(Unaudited)

(Unaudited)

(Audited)

Cash flow from operating activities
Cash generated by operations

54

47

99

168

Interest and dividends received

2

2

2

9

Interest paid

–

(4)

(2)

(9)

Income and mining taxes refunded

–

–

2

8

Cash generated by operating activities

56

45

101

176

Cash flow from investing activities
Decrease in restricted cash

–

–

–

1

Decrease in restricted investments

–

1

–

2

Loan to associate

–

–

–

(10)

Net additions to property, plant and equipment

(46)

(59)

(60)

(246)

Cash utilised by investing activities

(46)

(58)

(60)

(253)

Cash flow from financing activities
Borrowings raised

23

45

–

80

Borrowings repaid

–

(1)

–

(65)

Cash generated by financing activities

23

44

–

15

Foreign currency translation adjustments

(14)

(1)

(11)

(22)

Net increase/(decrease) in cash and cash equivalents

19

30

30

(84)

Cash and cash equivalents – beginning of period

88

58

172

172

Cash and cash equivalents – end of period

107

88

202

88

The currency conversion average rates for the quarter ended: September 2015: US$1 = R13.00 (June 2015: US$1 = R12.08, September 2014:
US$1 = R10.77). For year ended: June 2015: US$1 = R11.45.

Closing balance translated at closing rates of: September 2015: US$1 = R13.87 (June 2015: US$1 = R12.16, September 2014:
US$1 = R11.32).

The cash flow statement for the year ended 30 June 2015 has been extracted from the 2015 annual financial statements.

Revenue

30 September

Production cost

30 September

Production

profit/(loss)

30 September

Mining assets
30 September

Capital

expenditure^#

30 September

Ounces

produced

30 September

Tons milled

30 September

2015

2014

2015

2014

2015

2014

2015

2014

2015

2014

2015

2014

2015

2014

US$ million

US$ million

US$ million

US$ million

US$ million

oz

t'000

South Africa
Underground
Kusasalethu

39

59

40

54

(1)

5

263

324

7

11

32 794

42 889

250

320

Doornkop

25

29

21

29

4

–

161

295

4

5

21 380

19 901

181

149

Phakisa

35

36

26

28

9

8

309

408

7

8

31 572

27 489

196

174

Tshepong

47

45

35

38

12

7

292

350

5

7

42 407

34 658

310

286

Masimong

26

29

20

24

6

5

61

94

2

4

23 406

22 441

208

204

Target 1

36

45

24

29

12

16

203

246

6

7

32 344

33 501

202

203

Bambanani

34

30

16

16

18

14

59

74

2

2

30 190

23 374

71

65

Joel

20

26

17

21

3

5

45

41

4

3

17 361

17 136

153

161

Unisel

17

20

14

16

3

4

42

56

1

3

15 336

15 336

124

126

Target 3^(a)

–

19

–

15

–

4

38

49

–

2

–

14 211

–

88

Surface
All other surface operations

27

36

24

29

3

7

35

42

1

1

23 471

25 109

2 955

2 909

Total South Africa

306

374

237

299

69

75

1 508

1 979

39

53

270 261

276 045

4 650

4 685

International
Hidden Valley

13

38

28

28

(15)

10

86

321

1

2

11 124

27 296

348

575

Total international

13

38

28

28

(15)

10

86

321

1

2

11 124

27 296

348

575

Total operations

319

412

265

327

54

85

1 594

2 300

40

55

281 385

303 341

4 998

5 260

#

Capital expenditure for international operations excludes expenditure spend on Wafi-Golpu of US$5 million (2014: US$1 million).

(a)

Target 3 was placed on care and maintenance in October 2014.

SEGMENT REPORT (US$/IMPERIAL)

for the three months ended 30 September 2015 (Unaudited)

Harmony Gold Mining Company Limited

Results for the first quarter FY16 ended 30 September 2015

22

DEVELOPMENT RESULTS (IMPERIAL)

Quarter ending September 2015

Channel

Reef Sampled

Width

Value

Gold

Meters

Meters

(Cm's)

(g/t) (Cmg/t)

Tshepong

Basal

196

160

9.44

120.23

1 135

B Reef

249

224

167.19

13.70

2 290

All Reefs

445

384

101.46

17.83

1 809

Phakisa

Basal

515

516

56.72

24.52

1 391

All Reefs

515

516

56.72

24.52

1 391

Doornkop

South Reef

551

588

64.00

12.79

817

All Reefs

551

588

64.00

12.76

817

Kusasalethu

VCR Reef

465

374

89.00

10.91

971

All Reefs

465

374

89.00

10.91

971

Target 1

Elsburg

44

44

291.00

7.33

2 134

All Reefs

44

44

291.00

7.33

2 134

Masimong 5

Basal

196

162

69.22

18.93

1 311

B Reef

165

171

45.75

13.33

610

All Reefs

360

333

57.17

16.63

951

Unisel

Basal

261

174

171.26

6.80

1 164

Leader

306

346

198.98

7.50

1 493

All Reefs

568

520

189.70

7.29

1 383

Joel

Beatrix

402

439

124.00

8.61

1 067

All Reefs

402

439

124.00

8.61

1 067

Total Harmony

Basal

1 168

1 012

70.94

18.30

1 298

Beatrix

402

439

124.00

8.61

1 067

Leader

306

346

198.98

7.50

1 493

B Reef

414

395

114.62

13.63

1 563

Elsburg

44

44

291.00

7.33

2 134

South Reef

551

588

64.00

12.76

817

VCR

465

374

89.00

10.91

971

All Reefs

3 350

3 198

101.34

11.89

1 205

DEVELOPMENT RESULTS (METRIC)

Quarter ending September 2015

Channel

Reef Sampled

Width

Value

Gold

Feet

Feet

(Inch)

(oz/t) (In.oz/t)

Tshepong

Basal

644

525

4.00

3.26

13

B Reef

818

735

66.00

0.40

26

All Reefs

1 461

1 260

40.00

0.52

21

Phakisa

Basal

1 690

1 693

22.00

0.73

16

All Reefs

1 690

1 693

22.00

0.73

16

Doornkop

South Reef

1 808

1 929

25.00

0.38

9

All Reefs

1 808

1 929

25.00

0.38

9

Kusasalethu

VCR Reef

1 525

1 227

35.00

0.32

11

All Reefs

1 525

1 227

35.00

0.32

11

Target 1

Elsburg

144

144 115.00

0.21

25

All Reefs

144

144 115.00

0.21

25

Masimong 5

Basal

642

531

27.00

0.56

15

B Reef

540

561

18.00

0.39

7

All Reefs

1 182

1 093

23.00

0.47

11

Unisel

Basal

857

571

67.00

0.20

13

Leader

1 005

1 135

78.00

0.22

17

All Reefs

1 862

1 706

75.00

0.21

16

Joel

Beatrix

1 317

1 440

49.00

0.25

12

All Reefs

1 317

1 440

49.00

0.25

12

Total Harmony

Basal

3 833

3 320

28.00

0.53

15

Beatrix

1 317

1 440

49.00

0.25

12

Leader

1 005

1 135

78.00

0.22

17

B Reef

1 358

1 296

45.00

0.40

18

Elsburg

144

144 115.00

0.21

25

South Reef

1 808

1 929

25.00

0.38

9

VCR

1 525

1 227

35.00

0.32

11

All Reefs

10 990

10 492

40.00

0.35

14

www.harmony.co.za

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: November 05, 2015

Harmony Gold Mining Company Limited

By: /s/ Frank Abbott

Name: Frank Abbott
Title: Financial Director