Exhibit 4.24

NOTARIAL AUTHENTICATION CERTIFICATE

TO ALL WHOM THESE PRESENTS SHALL COME

ROELOF EMILE BONNET

Notary Public, residing and practising at Johannesburg, in the Province of Gauteng,Republic of South Africa, by lawful authority duly admitted and sworn, do herebycertify and attest that I was personally present and did witness -

GERARD HENDRIK KEMP Identification Number 5409115064 08 9;

ROBERT ALEX LLEWELLYN ATKINSON Identification Number520119 5192 08 2;

both being the signatories named in the Sale of Shares and Claims Agreement annexedhereto, duly sign and execute the said Agreement at the places and on the datesrecorded therein and that the names and signatures of Gerard Hendrik Kemp and RobertAlex Llewellyn Atkinson thereto subscribed is of the proper and respective handwritingof the said Gerard Hendrik Kemp and Robert Alex Llewellyn Atkinson.

In testimony whereof, I, the Notary, have hereunto subscribed my name and set andfixed my seal of office at JOHANNESBURG aforesaid on this the 18^th day ofDecember in the year 2007 (two thousand and seven).

Quod attestorNOTARY PUBLIC

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TABLE OF CONTENTS

1 INTERPRETATION ..................................................................................... 3 ...2 INTRODUCTION ....................................................................................... 10 ..3 CONDITIONS PRECEDENT ............................................................................... 104 MERGER NOTIFICATION TO COMPETITION AUTHORITIES, .. 13 ..5 SALE.. ............................................................................................. 14 ..6 PURCHASE CONSIDERATION ............................................................................. 15 ..7 SETTLEMENT OF THE PURCHASE CONSIDERATION ........................................................... 16 ..8 REHABILITATION GUARANTEE ........................................................................... 17 ..9 CLOSING ............................................................................................ 17 ..10 PAYMENT AND INTEREST ............................................................................... 18 ..11 CESSION OF REMAINING CLAIM ......................................................................... 18 ..12 WARRANTIES BY THE SELLER ........................................................................... 19 ..13 PERIOD BETWEEN THE EFFECTIVE DATE AND THE PAYMENT DATE ............................................. 19 ..14 GENERAL WARRANTIES ................................................................................. 19 ..15 ACCESS ............................................................................................. 20 ..16 CONFIDENTIALITY .................................................................................... 21 ..17 PUBLICITY .......................................................................................... 24 ..18 SUPPORT ............................................................................................ 25 ..19 BREACH ............................................................................................. 26 ..20 DISPUTE RESOLUTION ................................................................................. 27 ..21 NOTICES AND DOMICILIA.. ............................................................................ 28 ..22 BENEFIT OF THE AGREEMENT ........................................................................... 30 ..23 APPLICABLE LAW AND JURISDICTION .................................................................... 30 ..24 GENERAL ............................................................................................ 31 ..25 COSTS .............................................................................................. 32 ..26 SIGNATURE .......................................................................................... 33 ..

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WHEREBY THE PARTIES AGREE AS FOLLOWS -

1 INTERPRETATION

1.1 In this Agreement -

1.1.1 clause headings are for convenience only and are not to be used in its interpretation;

1.1.2 an expression which denotes -

1.1.2.1 any gender includes the other genders;1.1.2.2 a natural person includes a juristic person and vice versa; and1.1.2.3 the singular includes the plural and vice versa.

1.2 In this Agreement, unless the context indicates a contrary intention, the following words andexpressions bear the meanings assigned to them and cognate expressions bear correspondingmeanings -

1.2.1 “Adjustment Amount Determination Date” means the 1^st (first) business dayafter the date on which the Effective Value Determination is made by the DME;

1.2.2 “AFSA” means the Arbitration Foundation of Southern Africa;

1.2.3 “Agreement” means this sale of shares and claim agreement;

1.2.4 “Business” shall have the meaning ascribed thereto in the Sale of Business Agreement;

1.2.5 “Business Assets” shall have the meaning ascribed thereto in the Saleof Business Agreement;

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1.2.6 “Business Liabilities” shall have the meaning ascribed thereto in the Sale ofBusiness Agreement;

1.2.7 “Companies Act” means the Companies Act, 1973;

1.2.8 “Company” means Clidet No 726 (Proprietary) Limited, registration number2007/607531/07, a limited liability private company duly incorporatedin the Republic of South Africa;

1.2.9 “Competition Act” means the Competition Act, 1998;

1.2.10 “Competition Authorities” means the commission established pursuant toChapter 4, Part A of the Competition Act or the tribunal established pursuant toChapter 4, Part B of the Competition Act or the appeal court establishedpursuant to Chapter 4, Part C of the Competition Act, as the case may be;

1.2.11 “Conditions Precedent” means the conditions set out in clause 3.1;

1.2.12 “DME” means the Department of Minerals and Energy of the Government of theRepublic of South Africa;

1.2.13 “Effective Date” shall have the meaning ascribed thereto in the Sale of BusinessAgreement;

1.2.14 “Effective Value Determination” shall have the meaning ascribed thereto in theSale of Business Agreement;

1.2.15 “Initial Purchase Consideration” means the amount payable by the Purchaser tothe Sellers for the Sale Equity in terms of clause 6.1, before any interestpayable thereon;

1.2.16 “Investco” means ARMgold/Harmony Joint Investment Company (Proprietary) Limited,registration number 2002/032163/07, a limited

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liability private company duly incorporated in the Republic of South Africa;

1.2.17 “Merger Notification” means the merger notice to be submitted to the CompetitionAuthorities as contemplated in clause 4.2;

1.2.18 “Mining Assets” means all of the Business Assets other than the New Order Rights;

1.2.19 “Mining Assets Valuation” means that portion of the Sale of Business PurchaseConsideration allocated by the DME to the Mining Assets in making the Effective ValueDetermination;

1.2.20 “Minister” means the Minister of Minerals and Energy;

1.2.21 “MPRDA” means the Mineral and Petroleum Resources Development Act, 2002;

1.2.22 “New Order Mining Right” shall bear the meaning ascribed thereto in the Sale ofBusiness Agreement;

1.2.23 “New Order Prospecting Right” shall bear the meaning ascribed thereto in the Sale ofBusiness Agreement;

1.2.24 “New Order Rights” means the New Order Mining Right and the New Order ProspectingRight;

1.2.25 “Parties” means the parties to this Agreement;

1.2.26 “Payment Date” means the later of the -

1.2.26.1 Effective Date; and

1.2.26.2 15^th (fifteenth) business day after the date on which the last of theConditions Precedent is fulfilled or waived, or such earlier date as

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may be notified by the Purchaser to the Sellers in writing;

1.2.27 “Prime Rate” means the publicly quoted basic rate of interest, compounded monthly inarrears and calculated on a 365 (three hundred and sixty five) day year irrespective ofwhether or not the year is a leap year, from time to time published by Absa Bank Limitedas being its prime overdraft rate, as certified by any representative of that bank whoseappointment and designation it shall not be necessary to prove;

1.2.28 “Purchase Consideration” means the Initial Purchase Consideration as adjusted inaccordance with the provisions of clause 6.3;

1.2.29 “Purchaser” means Clidet No 770 (Proprietary) Limited, registration number2007/012390/07, a limited liability private company duly incorporated in theRepublic of South Africa;

1.2.30 “Rand Equivalent” shall have the meaning ascribed thereto in the Sale of BusinessAgreement;

1.2.31 “Randfontein” means Randfontein Estates Limited, registration number 1889/000251/06, alimited liability public company duly incorporated in the Republic of South Africa;

1.2.32 “Remaining Claim” means Randfontein’s remaining claim against the Company on loanaccount, after the sale of the Sale Claim to the Purchaser, being 40% (forty percent) ofthe Sale of Business Purchase Consideration;

1.2.33 “Sale” means the sale of the Sale Equity by the Sellers to the Purchaser in terms ofthis Agreement;

1.2.34 “Sale Claim” means 60% (sixty percent) of Randfontein’s claim againstthe Company on loan account, which claim constitutes 60% (sixty)

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percent) of the Sale of Business Purchase Consideration;

1.2.35 “Sale Equity” means the Sale Claim and the Sale Shares;

1.2.36 “Sale of Business Agreement” means the agreement headed “Sale of Business Agreement"entered or to be entered into between Randfontein, the Company and the Purchaser,in terms of which Randfontein will sell the Business as a going concern to the Company witheffect from the Effective Date;

1.2.37 “Sale of Business Purchase Consideration” means the aggregate cash amount payable by theCompany to Randfontein for the Business in terms of the Sale of Business Agreement, whichamount excludes the assumption of the Business Liabilities;

1.2.38 “Sale Shares” means 600 (six hundred) ordinary shares in the issued ordinary share capitalof the Company having a par value of R1.00 (one rand) each, constituting, as at the EffectiveDate, 60% (sixty percent) of the entire issued share capital of the Company;

1.2.39 “Sellers” means Investco and Randfontein;

1.2.40 “Sellers’ Attorneys” means Cliffe Dekker Incorporated;

1.2.41 “Sellers’ Designated Account” means the bank account nominated by the Sellers, the detailsof which are set out below, or such other account as the Sellers may designate in writing on 5(five) business days notice to the Purchaser -

Name of Account Harmony Gold Mining Company Treasury Account

Bank: ......... Absa Bank Limited

Branch: ....... Virginia

Branch Code: .. 632005

Account Number: 4048737227

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1.2.42 “Shareholders Agreement” means the agreement headed “Shareholders Agreement”entered into or to be entered into between Investco, the Purchaser and the Company, governingthe relationships between the shareholders of the Company inter se and between the Company andits shareholders; and

1.2.43 “Signature Date” means the date of signature of this Agreement by the Party last signing.

1.3 Any substantive provision, conferring rights or imposing obligations on a Party and appearingin any of the definitions in this clause 1 or elsewhere in this Agreement, shall be giveneffect to as if it were a substantive provision in the body of the Agreement.

1.4 Words and expressions defined in any clause shall, unless the application of any such word orexpression is specifically limited to that clause, bear the meaning assigned to such word orexpression throughout this Agreement.

1.5 Subject to clauses 1.6, 1.8 and 1.16, defined terms appearing in this Agreement in title caseshall be given their meaning as defined, while the same terms appearing in lower case shall beinterpreted in accordance with their plain English meaning.

1.6 The terms “holding company” and “subsidiary” shall bear the meanings assigned thereto in theCompanies Act.

1.7 A reference to any statutory enactment shall be construed as a reference to that enactment asat the Signature Date and as amended or substituted from time to time.

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1.8 Reference to “days” shall be construed as calendar days unless qualified by the word“business”, in which instance a “business day” will be any day other than a Saturday,Sunday or public holiday as gazetted by the government of the Republic of South Africafrom time to time. Any reference to “business hours” shall be construed as being thehours between 08h30 and 17h00 on any business day. Any reference to time shall be basedupon South African Standard Time.

1.9 Unless specifically otherwise provided, any number of days prescribed shall bedetermined by excluding the first and including the last day or, where the last dayfalls on a day that is not a business day, the next succeeding business day.

1.10 Where figures are referred to in numerals and in words, and there is any conflictbetween the two, the words shall prevail, unless the context indicates a contraryintention.

1.11 No provision herein shall be construed against or interpreted to the disadvantage of aParty by reason of such Party having or being deemed to have structured, drafted orintroduced such provision.

1.12 The expiration or termination of this Agreement shall not affect such of the provisionsof this Agreement as expressly provide that they will operate after any such expirationor termination or which of necessity must continue to have effect after such expirationor termination, notwithstanding that the clauses themselves do not expressly provide forthis.

1.13 The use of any expression in this Agreement covering a process available under SouthAfrican law, such as winding-up, shall, if any of the Parties to this Agreement issubject to the law of any other jurisdiction, be construedas including any equivalent or analogous proceedings under the law of such otherjurisdiction.

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1.14 The words “include” and “including” mean “include without limitation” and“including without limitation”. The use of the words “include” and “including”followed by a specific example or examples shall not be construed as limiting themeaning of the general wording preceding it.

1.15 Any reference in this Agreement to “this Agreement” or any other agreement ordocument shall be construed as a reference to this Agreement or, as the case maybe, such other agreement or document, as amended, varied, novated or supplementedfrom time to time.

1.16 In this Agreement the words “clause” or “clauses” refer to clauses of thisAgreement.

2 INTRODUCTION

2.1 The Sale Shares are beneficially owned by and registered in the name of Investco.

2.2 The Sale Claim will, as at the Effective Date, be held by Randfontein.

2.3 The Purchaser wishes to acquire, and the Sellers wish to sell, the Sale Equity.

2.4 The Parties wish to record in writing their agreement in respect of the above andmatters ancillary thereto.

3 CONDITIONS PRECEDENT

3.1 Save for clauses 1 to 3 and clauses 14 to 25 (both inclusive) all of which willbecome effective immediately, this Agreement is subject to the fulfilment of theconditions precedent that -

3.1.1 by not later than the Signature Date, the Purchaser has furnished theSellers, at the Purchaser’s cost, with an irrevocable guarantee in respect

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of the payment of the Purchase Consideration, on terms and conditions and in formand substance reasonably acceptable to the Sellers;

3.1.2 by not later than 17h00 on 31 January 2008, the Sellers have provided the Purchaserwith certified copies of resolutions of directors of the Company -

3.1.2.1 approving the transfer of the Sale Shares from Investco to the Purchaser;

3.1.2.2 noting the cession of the Sale Claim by Randfontein to the Purchaser; and

3.1.2.3 noting the cession of the Remaining Claim by Randfontein to Investco;

3.1.3 by not later than 17h00 on 30 April 2008, the Sale and all agreements andtransactions contemplated in this Agreement (to the extent necessary) have beenunconditionally approved by the Competition Authorities in terms of the Competition Act,or conditionally approved on terms and conditions acceptable to the Parties;

3.1.4 by not later than 17h00 on 30 June 2008, the Minister has granted approval for thetransfer of the Sale Shares from Investco to the Purchaser in terms of section 11 of theMPRDA;

3.1.5 by not later than 17h00 on 30 June 2008, the Sale of Business Agreement has beenentered into by the parties thereto and such agreement has become unconditional inaccordance with its terms, save for any condition requiring that this Agreement becomesunconditional; and

3.1.6 by not later than 17h00 on 30 June 2008, the Shareholders Agreement

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has been entered into and has become unconditional in accordance with itsterms, save for any condition which requires that this Agreement becomesunconditional.

3.2 Each of the Parties, insofar as it is within its control, shall use its commerciallyreasonable endeavours to procure the fulfilment of the Conditions Precedent contained inclauses 3.1.3 to 3.1.6 (both inclusive) as soon as reasonably possible after theSignature Date.

3.3 Each of the Sellers shall use its commercially reasonable endeavours to procure thefulfilment of the Condition Precedent contained in clause 3.1.2 as soon as reasonablypossible after the Signature Date.

3.4 The Purchaser shall use its commercially reasonable endeavours to procure thefulfilment of the Condition Precedent contained in clause 3.1.1 on the Signature Date.

3.5 The Conditions Precedent set out in -

3.5.1 clause 3.1.1 has been inserted for the benefit of the Sellers which will be entitledto waive fulfilment of the said Condition Precedent, in whole or in part, on writtennotice to the Purchaser prior to the expiry of the relevant time period set out in thatclause;

3.5.2 clauses 3.1.2 and 3.1.6 have been inserted for the benefit of all the Parties whichwill be entitled to waive fulfilment of the said Conditions Precedent, in whole or inpart, by written agreement prior to the expiry of the relevant time periods set out inthose clauses; and

3.5.3 clauses 3.1.3 and 3.1.4 are a requirement of law and cannot be waived.

3.6 Each of the Seller and the Purchaser shall be entitled from time to time to extend the duedate for fulfilment of any or all of the Conditions Precedent

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by written notice to that effect to the other of them, provided however that theaggregate of such extensions in respect of any of the Conditions Precedent shall notbe more than 20 (twenty) business days.

3.7 Unless all the Conditions Precedent have been fulfilled or waived by not later than therelevant dates for fulfilment thereof set out in clause 3.1 (or such later date or datesas may be determined in terms of clause 3.6 and/or as may be agreed in writing betweenthe Parties before the aforesaid date or dates) the provisions of this Agreement, savefor clauses 1 to 3 and clauses 14 to 25 (both inclusive) which will remain of full forceand effect, will never become of any force or effect and the status quo ante will berestored as near as may be possible and none of the Parties will have any claim againstthe others in terms hereof or arising from the failure of the Conditions Precedent, savefor any claims arising from a breach of clauses 3.2 to 3.4 (both inclusive).

4 MERGER NOTIFICATION TO COMPETITION AUTHORITIES

4.1 It is recorded that the Sale and, to the extent applicable, the other transactionscontemplated in this Agreement will result in a change in control, as contemplated by Chapter3 of the Competition Act, which will require the approval of the Competition Authorities priorto this Agreement being implemented.

4.2 The Parties shall as soon as reasonably possible after the Signature Date, jointly instructthe Seller’s Attorneys to prepare and submit a merger notice in respect of the Sale and, tothe extent necessary, the other transactions contemplated in this Agreement to the CompetitionAuthorities in terms of the Competition Act, for approval.

4.3 The Parties shall procure that the Merger Notification is submitted to theCompetition Authorities as soon as practicable after the Signature Date

Page 144.4 Each of the Parties shall -

4.4.1 sign all documents and expeditiously provide all necessary information upon beingrequired to do so;

4.4.2 use its commercially reasonable endeavours and shall take all such steps and renderail such assistance as may be reasonably necessary to procure that the MergerNotification is properly prepared and duly submitted as soon as practicable after theSignature Date; and

4.4.3 do everything required by the Competition Authorities in order to enable the MergerNotification to be dealt with, to the extent that it is within its power to do so, providedthat the aforegoing undertaking shall not place any obligation on any Party to assume anyobligations or liabilities that are commercially onerous or unreasonable in the context ofthis Agreement or agreeing to commercially onerous or unreasonable conditions.

4.5 The Purchaser and Randfontein shall pay the costs of and associated with the filing of theMerger Notification in equal measure. These costs shall include the filing fee payable inconnection with the filing of the Merger Notification and the legal fees of the Seller’sAttorneys for the preparation and submission of the Merger Notification, but shall excludeeach Party’s other legal costs associated with the preparation of such MergerNotification (if any), which costs will be for each Party’s own account.

5 SALE

5.1 The Sellers hereby sell to the Purchaser, which hereby purchases, the Sale Equity as oneindivisible transaction.

5.2 The Sale will be deemed to have taken place on the Effective Date and ownership of, and riskin, and benefit attaching to, the Sale Equity will,

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against compliance by the Purchaser with the provisions of clause 7, pass to thePurchaser on the Payment Date, with effect from the Effective Date.

5.3 Possession and effective control of the Sale Equity will be given to the Purchaser onthe Payment Date.

6 PURCHASE CONSIDERATION

6.1 The initial purchase consideration is 60% (sixty percent) of the Sale of Business PurchaseConsideration, plus interest thereon at the Prime Rate from and including the Effective Dateto but excluding the Payment Date.

6.2 The Company is responsible for procuring the Mining Assets Valuation as soon as possibleafter the Signature Date. The Parties undertake to use commercially reasonable endeavours inassisting the Company to procure the Mining Assets Valuation.

6.3 If the Mining Assets Valuation is more or less than 60% (sixty percent) of the Sale ofBusiness Purchase Consideration, then the Initial Purchase Consideration shall be adjusted asfollows -

6.3.1 if it is more, then the Initial Purchase Consideration shall be increased by an amountdetermined in accordance with the following formula -

A = [B x (C — D)] x 60%

6.3.2 if it is less, then the Initial Purchase Consideration shall be reduced by an amountdetermined in accordance with the following formula -

A = [B x (D — C)] x 60%6.4 For the purposes of the formulae in clause 6.3 -

6.4.1 A = the amount of the increase or reduction, as the case may be;

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6.4.2 B = 36.25% (thirty six point two five percent);

6.4.3 C = the Mining Assets Valuation; and

6.4.4 D = 60% (sixty percent) of the Sale of Business Purchase Consideration. 6.5 The PurchaseConsideration will be allocated as follows -

6.5.1 in respect of the Sale Claim, the face value thereof; and

6.5.2 in respect of the Sale Shares, the balance of the Purchase Consideration.

7 SETTLEMENT OF THE PURCHASE CONSIDERATION

7.1 The Initial Purchase Consideration, plus any interest payable thereon, will be settled on thePayment Date, against compliance by the Sellers with the provisions of clause 9.1, by thePurchaser paying such amount to the Sellers in cash.

7.2 Any increase in the Initial Purchase Consideration in terms of clause 6.3 will be settled, onthe 15^th (fifteenth) business day after the Adjustment Amount Determination Date,or such earlier date as may be notified by the Purchaser to Investco in writing, by thePurchaser paying an amount equal to the increase to Investco in cash.

7.3 Any reduction in the Initial Purchase Consideration in terms of clause 6.3 will be settled,on the 15^th (fifteenth) business day after the Adjustment Amount DeterminationDate, or such earlier date as may be notified by Investco to the Purchaser in writing, by theSellers paying an amount equal to the reduction to the Purchaser in cash.

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8 REHABILITATION GUARANTEE

8.1 The Purchaser acknowledges that it is likely that, in order toobtain the Ministerial consents referred to in clause 3.1 of the Sale of BusinessAgreement, Randfontein and/or Investco will be obliged to provide or procure theprovision of a guarantee in respect of rehabilitation obligations.

8.2 The Parties agree that any guarantee provided or procured byRandfontein and/or Investco, as contemplated in clause 8.1, will be replaced by aguarantee provided or procured by the Company with effect from the EffectiveDate, and each of the Parties undertakes to take all such steps and do all suchthings as may be necessary to procure the replacement of such guarantee.

9 CLOSING

9.1 On the Payment Date representatives of the Parties shall meet at10h00 at the offices of Randfontein, or such other place as the Parties mayagree, at which meeting the Sellers will deliver to the Sellers’ Attorneys -

9.1.1 an original share certificate in respect of the Sale Shares; and

9.1.2 a share transfer form in respect of the Sale Shares duly completedby Investco and dated not more than 3 (three) days earlier than the Payment Date.

9.2 Upon receipt of confirmation from the Sellers’ Attorneys that ithas received the documents referred to in clause 9.1, the Purchaser will, on thePayment Date pay the Initial Purchase Consideration, plus any interest payablethereon, to the Sellers.

9.3 The Sellers’ Attorneys will hold the documents delivered to it interms of clause 9.1 in escrow and shall release them to the Purchaser when the

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Sellers’ Attorneys receive written confirmation from Randfontein that theInitial Purchase Consideration, plus any interest payable thereon, has beenpaid to the Sellers.

9.4 Against payment of the Initial Purchase Consideration, plus anyinterest payable thereon, Randfontein hereby cedes, assigns and transfers to andin favour of the Purchaser all of its right, title and interest in and to theSale Claim with effect from the Payment Date.

10 PAYMENT AND INTEREST

10.1 All cash payments to be made by the Purchaser in terms of this Agreement

will be made by electronic transfer of immediately available and freelytransferable funds to the Sellers’ Designated Account, free of any deductionsor set-off whatsoever, in the currency of the Republic of South Africa.

10.2 Should any payment under or arising from this Agreement fail to bemade on the due date thereof then, without prejudice to such other rights as mayaccrue to the payee consequent upon such failure, such overdue amounts will bearinterest at the Prime Rate, from and including the due date for payment to butexcluding the date of actual payment.

11 CESSION OF REMAINING CLAIM

11.1 Randfontein hereby cedes the Remaining Claim to Investco, witheffect from the Payment Date, in consideration for which Investco will credit aloan account in its books in favour of Randfontein in an amount equal to the facevalue of the Remaining Claim, which loan account shall, at all times, have thesame terms as the Remaining Claim.

11.2 The Purchaser andthe Company hereby consent to the cession of theRemaining Claim by Randfontein to Investco and Investco hereby accepts

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cession of the Remaining Claim from Randfontein.

12 WARRANTIES BY THE SELLER

Save as to warrant that, as at the Effective Date -

12.1 Investco will own the Sale Shares and have the right to giveunencumbered ownership in and to the Sale Shares to the Purchaser; and

12.2 Randfontein will hold the Sale Claim and have the right togive unencumbered title in and to the Sale Claim to the Purchaser,

the Sellers give no warranties whatsoever to the Purchaser in respect of the SaleEquity.

13 PERIOD BETWEEN THE EFFECTIVE DATE AND THE PAYMENT DATE

The Sellers and the Company hereby undertake and warrant, to in and favour of thePurchaser, that-

13.1 the Company will not make any distribution of any nature whatsoeveror repay all or any part of the Remaining Claim and/or the Sale Claim prior tothe Payment Date; and

13.2 between the Effective Date and the Payment Date, the Business willbe conducted mutatis mutandis in accordance with the provisions of clause 20,1 ofthe Sale of Business Agreement.

14 GENERAL WARRANTIES

14.1 Each of the Parties hereby warrants to and in favour of the others that -

14.1.1 it has the legal capacity and has taken all necessary corporate actionrequired to empower and authorize it to enter into this Agreement;

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14.1.2 this Agreement constitutes an agreement valid and binding on it and enforceable against itin accordance with its terms;

14.1.3 the execution of this Agreement and the performance of its obligations hereunder does notand shall not -

14.1.3.1 contravene any law or regulation to which that Party is subject;

14.1.3.2 contravene any provision of that Party’s constitutional documents; or

14.1.3.3 conflict with, or constitute a breach of any of the provisions of any other agreement,obligation, restriction or undertaking which is binding on it.

14.2 Each of the representations and warranties given by the Parties in terms of clause 14.1,shall —

14.2.1 be a separate warranty and will in no way be limited or restricted by inference from theterms of any other warranty or by any other words in this Agreement;

14.2.2 continue and remain in force notwithstanding the completion of any or all the transactionscontemplated in this Agreement; and

14.2.3 prime facie be deemed to be material and to be a material representation inducingthe other Parties to enter into this Agreement.

15 ACCESS

15.1 From the Signature Date until the earlier of the Effective Date and, if applicable, the dateon which this Agreement fails to become unconditional in accordance with the provisions ofclause 3.7, Randfontein shall —

15.1.1 give the Purchaser and its officers, directors, employees, accountants,

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consultants, legal counsel, agents and other representatives (“Representatives”)reasonable access (during regular business hours upon reasonable notice) to selectemployees, agents, plants, offices, properties and other facilities and to all books,contracts, commitments and records relating to the Business and cause Randfontein’sRepresentatives to provide reasonable access to their work papers and such otherinformation as the Purchaser may reasonably request,

15.1.2 permit the Purchaser and its Representatives to make such inspections (during regularbusiness hours upon reasonable notice) as it may reasonably request; and

15.1.3 cause its Representatives to promptly furnish the Purchaser with such financial andoperating data and other information with respect to the Business, properties and personnel ofthe Business as the Purchaser may from time to time reasonably request.

15.2 It is agreed that all of the information provided in terms of this clause 15 shallconstitute information of a confidential nature given by Randfontein to the Purchaser and itsRepresentatives and shall be subject to the provisions of clause 16, and in particular clause16.7, in all respects.

16 CONFIDENTIALITY

16.1 The Parties undertake that during the operation of, and after the expiration, termination orcancellation of, this Agreement for any reason, they will keep confidential

16.1.1 any information which a Party (“Disclosing Party”) communicates to another Party(“Recipient”) and which is stated to be or by its nature is intended to be confidential;

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16.1.2 all other information of the same confidential nature concerning the Business or the business of aDisclosing Party which comes to the knowledge of the Recipient whilst it is engaged in negotiating theterms of this Agreement or after its conclusion, including -

16.1.2.1 details of the Disclosing Party’s financial structures and operating results; and

16.1.2.2 details of the Disclosing Party’s strategic objectives and planning.

16.2 If a Recipient is uncertain about whether any information is to be treated asconfidential in terms of this clause 16, it shall be obliged to treat it as such untilwritten clearance is obtained from the Disclosing Party.

16.3 Each Party undertakes, subject to clauses 16.4 and 16.7, not to disclose any informationwhich is to be kept confidential in terms of this clause 16, nor to use such informationfor its own or anyone else’s benefit.

16.4 Notwithstanding the provisions of clause 16.3, a Recipient shall be entitled to discloseany information to be kept confidential if and to the extent only that the disclosure isbona fide and necessary for the purposes of carrying out its duties in terms of thisAgreement.

16.5 The obligation of confidentiality placed on the Parties in terms of this clause 16 shallcease to apply to a Recipient in respect of any information which -

16.5.1 is or becomes generally available to the public other than by the negligence or defaultof the Recipient or by the breach of this Agreement by the Recipient;

16.5.2 the Disclosing Party confirms in writing is disclosed on a non- confidential basis;

NOTARY

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16.5.3 has lawfully become known by or come into the possession of the Recipient on anon-confidential basis from a source other than the Disclosing Party having the legal right todisclose same, provided that such knowledge or possession is evidenced by the written recordsof the Recipient existing at the Signature Date; or

16.5.4 is disclosed pursuant to a requirement or request by operation of law, regulation or courtorder, to the extent of compliance with such requirement or request only and not for any otherpurpose,

provided that -

16.5.5 the onus shall at all times rest on the Recipient to establish that information falls withinthe exclusions set out in clauses 16.5.1 to 16.5.4;

16.5.6 information will not be deemed to be within the foregoing exclusions merely because suchinformation is embraced by more general information in the public domain or in theRecipient’s possession; and

16.5.7 any combination of features will not be deemed to be within the foregoing exclusions merelybecause individual features are in the public domain or in the Recipient’s possession, butonly if the combination itself and its principle of operation are in the public domain or inthe Recipient’s possession.

16.6 In the event that the Recipient is required to disclose confidential information of theDisclosing Party as contemplated in clause 16.5.4, the Recipient will -

16.6.1 advise the Disclosing Party thereof in writing prior to disclosure, if possible;

16.6.2 take such steps to limit the disclosure to the minimum extent recorded to

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satisfy such requirement and to the extent that it lawfully and reasonably can;

16.6.3 afford the Disclosing Party a reasonable opportunity, if possible, to intervene in theproceedings;

16.6.4 comply with the Disclosing Party’s reasonable requests as to the manner and terms of anysuch disclosure; and

16.6.5 notify the Disclosing Party of the recipient of, and the form and extent of, any suchdisclosure or announcement immediately after it is made.

16.7 This clause 16 shall not apply to any disclosure made by a Party to -

16.7.1 its professional advisors, bankers, funders or potential funders, or consultants, providedthat they have agreed to the same confidentiality undertakings, and provided further that eachParty shall be obliged to procure compliance by its professional advisors, bankers, funders orpotential funders, or consultants, with such confidentiality undertakings; or

16.7.2 any judicial or arbitral tribunal or officer.

17 PUBLICITY

17.1 Subject to clause 17.3 each Party undertakes to keep confidential and not to disclose to anythird party, save as may be required in law (including by the rules of any securities exchangeon which the shares of any of the Parties may be listed, where applicable) or permitted interms of this Agreement, the nature, content or existence of this Agreement.

17.2 No announcements of any nature whatsoever will be made by or on behalf of a Party relating tothis Agreement without the prior written conset of the

other Parties, save for any announcement or other statement recquired to

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be made in terms of the provisions of any law (or by the rules of any securitiesexchange on which the shares of any of the Parties may be listed, where applicable), inwhich event the Party obliged to make such statement will first consult with the otherParties in order to enable them in good faith to attempt to agree the content of suchannouncement, which (unless agreed) must go no further than is required in terms of suchlaw or rules. This will not apply to a Party wishing to respond to one of the other Partieswhich has made an announcement of some nature in breach of this clause 17.2.

17.3 This clause 16 shall not apply to any disclosure made by a Party to -

17.3.1 its professional advisors or consultants, provided that they have agreed to the sameconfidentiality undertakings, and provided further that each Party shall be obliged toprocure compliance by its professional advisors, bankers, funders or potential funders, orconsultants, with such confidentiality undertakings; or

17.3.2 any judicial or arbitral tribunal or officer.

18 SUPPORT

The Parties undertake at all times to do all such things, perform all such actions and take allsuch steps and to procure the doing of all such things, the performance of all such actions andthe taking of all such steps as may be open to them and necessary for or incidental to theputting into effect or maintenance of the terms, conditions and/or import of this Agreement,provided that the a foregoing undertaking shall not place any obligation on any Party to assumeany obligations or liabilities that are commercially onerous or unreasonable in the context ofthis Agreement or agreeing to commercially onerous or unreasonable conditions.

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19 BREACH

19.1 If a Party (“Defaulting Party”) commitsany breach of this Agreement and fails to remedy such breachwithin 10 (ten) business days (“Notice Period”) of writtennotice requiring the breach to be remedied, then the Partygiving the notice (“Aggrieved Party”) will be entitled, at itsoption -

19.1.1 to claim immediate specific performance of all or any of theDefaulting Party’s obligations under this Agreement, with orwithout claiming damages, whether or not suchobligation has fallen due for performance; or

19.1.2 to cancel this Agreement, with or without claiming damages,in which case written notice of the cancellation shall be givento the Defaulting Party, and the cancellation shall take effecton the giving of the notice.

19.2 No Party shall be entitled to cancel thisAgreement unless the breach is a material breach, A breach willbe deemed to be a material breach if -

19.2.1 it is capable of being remedied, but is not soremedied within the Notice Period; or

19.2.2 it is incapable of being remedied and payment in money will compensate for such breachbut such payment is not made within the Notice Period.

19.3 An Aggrieved Party’s remedies in terms of this clause 19 are without prejudice to any otherremedies to which the Aggrieved Party may be entitled in law.

19.4 Notwithstanding the aforegoing, after the closing in full of the Sale in accordance withclause 9, none of the Parties will have the right to cancle

this Agreement as a result of a breach thereof, and the Parties only

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remedies thereafter will be to claim specific performance of all theDefaulting Party’s obligations, together with damages, if any.

20 DISPUTE RESOLUTION

20.1 In the event of there being any dispute or differencebetween the Parties arising out of this Agreement, the said dispute ordifference shall first be submitted to the Chief Executive Officers of theParties for resolution. Should the Chief Executive Officers be unable toresolve the dispute or difference within 10 (ten) business days after thedispute or difference has been referred to them, such dispute ordifference may, on written demand by either Party be submitted toarbitration in Johannesburg in accordance with the AFSA rules, whicharbitration shall be administered by AFSA.

20.2 Should AFSA, as an institution, not be operating atthat time or not be accepting requests for arbitration for any reason,then the arbitration shall be conducted in accordance with the AFSA rulesfor commercial arbitration (as last applied by AFSA) (“Latest AFSA Rules”)before an arbitrator appointed by agreement between the parties to thedispute or failing agreement within 10 (ten) business days of the demandfor arbitration, then any party to the dispute shall be entitled toforthwith call upon the chairperson of the Johannesburg Bar Council tonominate the arbitrator, provided that the person so nominated shall be anadvocate of not less than 10 (ten) years standing as such. The person sonominated shall be the duly appointed arbitrator in respect of thedispute. In the event of the attorneys of the parties to the disputefailing to agree on any matter relating to the administration of thearbitration, such matter shall be referred to and decided by thearbitrator whose decision shall be final and binding on the parties to thedispute,

20.3 Any party to the arbitration may appeal the decision of the arbitrator to

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arbitrators in terms of the AFSA rules for commercial arbitration. ShouldAFSA, as an institution, not be operating at that time or not be acceptingrequests for appeals for any reason, then the appeal shall be conducted inaccordance with the Latest AFSA Rules.

20.4 Nothing herein contained shall be deemed to prevent or prohibit aparty to the arbitration from applying to the appropriate court for urgent reliefor for judgment in relation to a liquidated claim.

20.5 Any arbitration in terms of this clause 20 (including anyappeal proceedings) shall be conducted in camera and the Parties shall treat asconfidential details of the dispute submitted to arbitration, the conduct of thearbitration proceedings and the outcome of the arbitration.

20.6 This clause 20 will continue to be binding on the Partiesnotwithstanding any termination or cancellation of the Agreement.

20.7 The Parties agree that the written demand by a party to the disputein terms of clause 20.1 that the dispute or difference be submitted toarbitration, is to be deemed to be a legal process for the purpose of interruptingextinctive prescription in terms of the Prescription Act, 1969.

21 NOTICES AND DOMICILIA

21.1 The Parties select as their respective domicilia citandi etexecutandi the following physical addresses, and for the purposes of giving orsending any notice provided for or required under this Agreement, the saidphysical addresses as well as the following telefax numbers and email addresses -

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Name Physical Address Telefax &Email
Sellers Block 27+2711684 0188

Randfontein Office Park marian.vanderwalt@

Cnr Main Reef Rd & Ward Ave harmony.co.za
Randfontein Republic of South Africa

Marked for the attention of: The Company Secretary

Name Physical Address Telefax &Email

Purchaser Pamodzi House+2711252 86161st Floor gerard@prf1 .com5 Willowbrook CloseMelrose NorthAthol

Republic of South Africa

Marked for the attention of: Gerard Kemp

With a copy to —

First Reserve Corporation +1 203 625 2505

One Lafayette Place akrueger@

Greenwich firstreserve.com

CT 06830

United States of America

provided that a Party may change its domicilium or its address for the purposes ofnotices to any other physical address, telefax number or email address in the Republic ofSouth Africa by written notice to the other Parties to that effect. Such change of addresswill be effective 5 (five) business days after receipt of the notice of the change.

21.2 All notices to be given in terms of this Agreement will be given in writing, in English,and will -

21.2.1 be delivered by hand or sent by telefax or email;

21.2.2 if delivered by hand during business hours, be presumed to have been received on the date ofdelivery. Any notice delivered after business hours or on a day which is not a business daywill be presumed to have been received on the following business day;

21.2.3 if sent by telefax during business hours, be presumed to have been

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received on the date of successful transmission of the telefax. Anytelefax sent after business hours or on a day which is not a business daywill be presumed to have been received on the following business day; and

21.2.4 if sent by email during business hours, be presumed to have been received on the date ofsuccessful transmission of the email as evidenced by a return receipt notification or otherevidence of transmission. Any email sent after business hours or on a day which is not a businessday will be presumed to have been received on the : following business day.

21.3 Notwithstanding the above, any notice given in writing in English,and actually received by the Party to whom the notice is addressed, will bedeemed to have been properly given and received, notwithstanding that suchnotice has not been given in accordance with this clause.

22 BENEFIT OF THE AGREEMENT

This Agreement will also be for the benefit of and be binding upon the successorsin title and permitted assigns of the Parties or any of them.

23 APPLICABLE LAW AND JURISDICTION

23.1 This Agreement will in all respects be governed by and construedunder the laws of the Republic of South Africa.

23.2 For the purposes of clause 20.4 or for the purposes of making thearbitration award an order of court, the Parties hereby consent and submit to thenon-exclusive jurisdiction of the Witwatersrand Local Division of the High Courtof the Republic of South Africa in any dispute arising from or in connection withthis Agreement. The Parties agree that any costs awarded

will be recoverable onan atomic-and-own client scale unless the Court

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specifically determines that such scale shall not apply, in which event, subject to anyspecific determination by the Court, the costs will be recoverable in accordance with theHigh Court tariff, determined on an attorney-and-client scale.

24 GENERAL

24.1 This Agreement constitutes the whole of the agreement between the Parties relating to thematters dealt with herein and, save to the extent otherwise provided herein, noundertaking, representation, term or condition relating to the subject matter of thisAgreement not incorporated in this Agreement shall be binding on any of the Parties.

24.2 No addition to or variation, deletion, or agreed cancellation of all or any clauses orprovisions of this Agreement will be of any force or effect unless in writing and signed bythe Parties.

24.3 No waiver of any of the terms and conditions of this Agreement will be binding or effectualfor any purpose unless in writing and signed by the Party giving the same. Any such waiverwill be effective only in the specific instance and for the purpose given. Failure or delayon the part of any Party in exercising any right, power or privilege hereunder will notconstitute or be deemed to be a waiver thereof, nor will any single or partial exercise of anyright, power or privilege preclude any other or further exercise thereof or the exercise ofany other right, power or privilege.

24.4 All provisions and the various clauses of this Agreement are,notwithstanding the manner in which they have been grouped together or linked grammatically,severable from each other. Any provision or clause of this Agreement which is or becomesunenforceable in any jurisdiction, whether due to voidness, invalidity, illegality,unlawfulness or for any other reason whatever, shall, in such jurisdictiononly and only to that

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it is so unenforceable, be treated as pro non scripto and the remainingprovisions and clauses of this Agreement shall remain of full force andeffect. The Parties declare that it is their intention that this Agreementwould be executed without such unenforceable provision if they were aware ofsuch unenforceability at the time of execution hereof.

24.5 Neither this Agreement nor any part, share or interest herein norany rights or obligations hereunder may be ceded, delegated or assigned by anyParty without the prior written consent of the other Parties.

24.6 This Agreement may be executed in counterparts, each of which shallbe deemed an original, and ail of which together shall constitute one and thesame Agreement as at the date of signature of the Party last signing one of thecounterparts.

25 COSTS

Each Party will bear and pay its own legal costs and expenses of and incidentalto the negotiation, drafting, preparation and implementation of this Agreement,provided that the Purchaser will pay any stamp duty payable in respect of thetransfer of the Sale Shares hereunder.

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26 SIGNATURE

Signed on behalf of the Parties, each signatory hereto warranting thathe/she has due authority to do so.

SIGNED at SANDTON on18/12/2007.

For and on behalf of

RANDFONTEIN ESTATES LIMITED

/s/ R.A.L. ATKINSON
Signature

R.A.L. ATKINSON

Name of Signatory

EXECUTIVE

Designation of Signatory

SIGNED at SANDTON on 18/12/2007.

For and on behalf of

ARMGOLD/HARMONY JOINT

INVESTMENT COMPANY

(PROPRIETARY) LIMITED

/s/ R.A.L. ATKINSON
Signature

R.A.L. ATKINSON

Name of Signatory

EXECUTIVE

Designation of Signatory

CLIFFE DEKKER