GEOLOGICAL CONFIDENCE

1. REPORTING CODE

Harmony has adopted the South African Code for reporting of Mineral Resources and Mineral Reserves (the SAMREC Code), which sets out the internationally recognised procedures and standards for reporting mineral resources and reserves in South Africa. The code was prepared under the auspices of the South African Institute of Mining and Metallurgy (SAIMM). It is modelled on the JORC code of the Australasian Institute of Mining and Metallurgy (AusIMM).

The following tables summarise the inventory of Harmony’s mineral resources and mineral (ore) reserves. The mineral resources are quoted as in situ ounces, above a cut-off and over an estimated stoping width. The mineral reserves are quoted inclusive of diluting material as tonnes and grade delivered to the mill.

MINERAL ORE RESERVES

Metric
				Proved						Probable						Total reserve
Region		Tonnes		Grade		Gold		Tonnes		Grade		Gold		Tonnes		Grade		Gold
		(million)		(g/t)		(tonnes)		(million)		(g/t)		(tonnes)		(million)		(g/t)		(tonnes)
Freestate	29.56	4.82	142.47	14.74	4.69	69.13	44.30	4.78	211.60
Evander	11.67	6.69	78.03	32.36	5.81	188.15	44.03	6.05	266.18
Randfontein	20.61	5.56	114.54	10.08	6.14	61.85	30.69	5.75	176.39
Lindum	0.46	1.50	0.69	0.73	1.82	1.33	1.19	1.70	2.02
Elandskraal	18.81	7.88	148.21	25.69	6.53	167.74	44.50	7.10	315.95
Kalgold	5.66	1.96	11.07	1.55	1.76	2.73	7.21	1.91	13.80
New Hampton	10.41	1.65	17.20	2.99	2.87	8.59	13.40	1.92	25.79
Total	97.18	5.27	512.21	88.14	5.67	499.52	185.32	5.46	1 011.73

Imperial
				Proved						Probable						Total reserve
Region		Tons		Grade		Gold		Tons		Grade		Gold		Tons		Grade		Gold
		(million)		(oz/t)		(oz/million)		(million)		(oz/t)		(oz/million)		(million)		(oz/t)		(oz/million)
Freestate	32.59	0.141	4.58	16.25	0.137	2.22	48.83	0.139	6.80
Evander	12.86	0.195	2.51	35.67	0.170	6.05	48.54	0.176	8.56
Randfontein	22.72	0.162	3.68	11.11	0.179	1.99	33.83	0.168	5.67
Lindum	0.51	0.044	0.02	0.80	0.053	0.04	1.31	0.050	0.06
Elandskraal	20.74	0.230	4.77	28.32	0.190	5.39	49.05	0.207	10.16
Kalgold	6.24	0.057	0.36	1.71	0.051	0.09	7.95	0.056	0.44
New Hampton	11.48	0.048	0.55	3.30	0.084	0.28	14.77	0.056	0.83
Total	107.14	0.154	16.47	97.16	0.165	16.06	204.28	0.159	32.52

MINERAL RESOURCES
(Mineral resources are inclusive of mineral reserves)

Total company				Metric						Imperial
Category	Tonnes	Grade	Gold	Tons	Grade	Gold
	(million)	(g/t)	(tonnes)	(million)	(oz/t)	(oz million)
Measured	243.16	4.62	1 124.21	268.05	0.13	36.14
Indicated	187.90	4.81	904.23	207.13	0.14	29.07
Inferred	1 518.29	3.25	4 937.93	1 673.69	0.09	158.76
Total	1 949.35	3.57	6 966.37	2 148.87	0.10	223.97

Freestate				Metric						Imperial
Category	Tonnes	Grade	Gold	Tons	Grade	Gold
	(million)	(g/t)	(tonnes)	(million)	(oz/t)	(oz million)
Measured	96.13	4.40	423.19	105.97	0.13	13.61
Indicated	45.05	4.18	188.40	49.66	0.12	6.06
Inferred	429.10	3.29	1 413.40	473.02	0.10	45.44
Total	570.28	3.55	2 024.99	628.65	0.10	65.11
Evander		Metric			Imperial
Category	Tonnes	Grade	Gold	Tons	Grade	Gold
	(million)	(g/t)	(tonnes)	(million)	(oz/t)	(oz million)
Measured	25.68	6.43	165.16	28.31	0.19	5.31
Indicated	44.37	6.63	294.04	48.91	0.19	9.45
Inferred	147.35	6.17	909.09	162.43	0.18	29.23
Total	217.40	6.29	1 368.29	239.65	0.18	43.99
Randfontein		Metric			Imperial
Category	Tonnes	Grade	Gold	Tons	Grade	Gold
	(million)	(g/t)	(tonnes)	(million)	(oz/t)	(oz million)
Measured	55.82	4.42	246.69	61.53	0.13	7.93
Indicated	29.23	4.83	141.08	32.22	0.14	4.54
Inferred	831.28	2.65	2 199.20	916.36	0.08	70.71
Total	916.33	2.82	2 586.97	1 010.11	0.08	83.18
Lindum		Metric			Imperial
Category	Tonnes	Grade	Gold	Tons	Grade	Gold
	(million)	(g/t)	(tonnes)	(million)	(oz/t)	(oz million)
Measured	5.97	1.19	7.11	6.58	0.03	0.23
Indicated	9.32	1.43	13.32	10.27	0.04	0.43
Inferred	12.99	1.12	14.55	14.32	0.03	0.47
Total	28.28	1.24	34.98	31.17	0.04	1.13
Elandskraal		Metric			Imperial
Category	Tonnes	Grade	Gold	Tons	Grade	Gold
	(million)	(g/t)	(tonnes)	(million)	(oz/t)	(oz million)
Measured	27.38	8.28	226.80	30.18	0.24	7.29
Indicated	23.53	8.00	188.16	25.94	0.23	6.05
Inferred	70.81	4.77	337.78	78.06	0.14	10.86
Total	121.72	6.18	752.74	134.18	0.18	24.20
Kalgold		Metric			Imperial
Category	Tonnes	Grade	Gold	Tons	Grade	Gold
	(million)	(g/t)	(tonnes)	(million)	(oz/t)	(oz million)
Measured	16.21	1.30	21.10	17.87	0.04	0.68
Indicated	9.02	1.36	12.30	9.94	0.04	0.40
Inferred	12.81	1.98	25.35	14.12	0.06	0.82
Total	38.04	1.54	58.75	41.93	0.05	1.90
Bissett		Metric			Imperial
Category	Tonnes	Grade	Gold	Tons	Grade	Gold
	(million)	(g/t)	(tonnes)	(million)	(oz/t)	(oz million)
Measured	0.48	8.41	4.04	0.53	0.25	0.13
Indicated	0.68	9.14	6.22	0.75	0.27	0.20
Inferred	0.74	10.04	7.46	0.82	0.29	0.24
Total	1.90	9.31	17.72	2.10	0.27	0.57
New Hampton		Metric			Imperial
Category	Tonnes	Grade	Gold	Tons	Grade	Gold
	(million)	(g/t)	(tonnes)	(million)	(oz/t)	(oz million)
Measured	15.49	1.94	30.12	17.08	0.06	0.97
Indicated	26.70	2.27	60.71	29.43	0.07	1.95
Inferred	13.21	2.35	31.10	14.56	0.07	1.00
Total	55.40	2.20	121.93	61.07	0.06	3.92

Mineral resources are declared using a cut-off of 250cmg/t for the underground mines (approximately 2g/t), 0.8g/t for Kalgold and for Lindum, an opencast operation at Randfontein.

*Cautionary note to US Investors. The United States Securities and Exchange Commission (the "SEC") permits mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms in this annual report, such as "resources", that the SEC guidelines strictly prohibit us from including in our filings with the SEC.