ANGLOGOLD ASHANTI ANNOUNCES $121M EXPANSION PROJECT IN BRAZIL

ANGLOGOLD ASHANTI ANNOUNCES $121M EXPANSION PROJECT IN BRAZIL                   
ANGLOGOLD ASHANTI LIMITED                                                       
(formerly AngloGold Limited                                                     
(Registration number 1944/017354/06)                                            
(Incorporated in the Republic of South Africa)                                  
("AngloGold" or "the Company")                                                  
ISIN: ZAE000043485    JSE Share code: ANG                                       
ANGLOGOLD ASHANTI ANNOUNCES $121M EXPANSION PROJECT IN BRAZIL                   
  AngloGold Ashanti announced today that its Board had approved a $121m         
expansion project at the company"s Cuiaba mine in south-eastern Brazil.  The go-
ahead was given at the Board meeting held in Johannesburg yesterday.            
The project will focus on the deepening of the mine to access the Serrotinho 
and Fonte Grande orebodies, located below the existing mine, which account for  
60% of the total mineral resource at Cuiaba.  Production will increase from the 
current level of 190,000oz per year to 250,000oz at a cost of $169/oz over the  
life of the project and will extend the life of mine profile by six years to    
2019.                                                                           
   Accessing these additional ounces will require a deepening of the existing   
mine by extending the ramp from level 11 to level 21, the deepest point at which
surface drilling has intersected the main orebodies.  To accommodate the        
resulting increase in mining volume, the project will include upgrading shaft   
hoisting capacity and constructing new milling and flotation facilities at the  
Cuiaba shaft area.  Flotation concentrate will be transported via the existing  
aerial ropeway to the treatment plant at Queiroz, located 16km from the mine,   
where another roaster and acid plant will be built and the current leaching     
facilities upgraded. The existing milling and flotation facilities at Queiroz   
will be decommissioned.                                                         
Implementation of the deepening will commence immediately in order to        
commission the expansion in December 2006, ramping up to full production by the 
end of the second quarter of 2007.                                              
   In addition to significantly increasing production at Cuiaba, the completed  
deepening project may also provide a new opportunity to exploit the narrow vein 
orebodies below level 11 at Cuiaba mine as well as the Lamego deposit in the    
area.  Conceptual studies have highlighted the potential to extract significant 
value from these areas, which would otherwise be sterilised, using the          
infrastructure that the Cuiaba expansion will provide.                          
   Commenting on the expansion, AngloGold Ashanti CEO Bobby Godsell said: "This 
decision confirms the view that Cuiaba is a world-class, long-life mine and is  
consistent with our value-adding strategy of growing the company through        
discovering or acquiring new assets or expanding existing operations."          
   ends                                                                         
   Johannesburg                                                                 
   27 January 2005                                                              
JSE Sponsor  : UBS                                                           
Date: 27/01/2005 09:28:11 AM Supplied by www.sharenet.co.za                     
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