Wrap Text
ANG - Anglogold Ashanti - Advises of temporary suspension of operations at
Iduapriem Mine
AngloGold Ashanti Limited
Incorporated in the Republic of South Africa
Registration Number: 1944/017354/06)
ISIN Number:ZAE000043485
JSE Share Code: ANG
("AngloGold Ashanti/Company")
TEMPORARY SUSPENSION OF OPERATIONS AT IDUAPRIEM MINE
Following discussions with the Environmental Protection Agency of Ghana (EPA)
in relation to potentially adverse environmental impacts arising from the
current tailings storage facility, operations at AngloGold Ashanti`s Iduapriem
mine in Ghana have been suspended until alternative arrangements for tailings
storage can be established. In conjunction with the EPA, we have identified an
interim location for tailings storage and will work with the agency over the
next month to make this operational.
In parallel, the mine is accelerating the development of a new tailings
storage facility and a water treatment plant, which it aims to commission in the
latter part of 2010 or in early 2011. Rescheduling is underway to define the
production impact but it is expected that a revised plan will enable a
significant portion of lost production to be recovered over the course of the
year. Employees and key suppliers are being engaged to assist during the
transition period.
In 2009, Iduapriem produced 190,000oz of gold, some 4% of AngloGold Ashanti`s
annual global production.
ENDS
19 February 2010
Contacts
Alan Fine (Media) Tel: +27 (0) 11 637 6383 Mobile: +27 (0) 83 250 0757
E-mail: afine@anglogoldashanti.com
Joanne Jones (Media) Tel: +27 (0) 11 637- 6813 Mobile: +27 (0) 82 896 0306
E-mail: jjones@AngloGoldAshanti.com
Sicelo Ntuli (Investor) Tel: +27 (0) 11 637 6339 Mobile: +27 (0) 71 608 991
E-mail: sntuli@AngloGoldAshanti.com
Stewart Bailey (Investor) Tel: +1 212 836 4303 Mobile: +1 646 338 4337
E-mail: sbailey@AngloGoldAshanti.com
Certain statements made in this communication, including, without limitation,
those concerning AngloGold Ashanti`s strategy to reduce its gold hedging
position including the extent and effects of the reduction, the economic outlook
for the gold mining industry, expectations regarding gold prices, production,
cash costs and other operating results, growth prospects and outlook of
AngloGold Ashanti`s operations, individually or in the aggregate, including the
completion and commencement of commercial operations of certain of AngloGold
Ashanti`s exploration and production projects and completion of acquisitions and
dispositions, AngloGold Ashanti`s liquidity and capital resources, and
expenditure and the outcome and consequences of any pending litigation
proceedings, contain certain forward-looking statements regarding AngloGold
Ashanti`s operations, economic performance and financial condition. Although
AngloGold Ashanti believes that the expectations reflected in such forward-
looking statements are reasonable, no assurance can be given that such
expectations will prove to have been correct. Accordingly, results could differ
materially from those set out in the forward-looking statements as a result of,
among other factors, changes in economic and market conditions, success of
business and operating initiatives, changes in the regulatory environment and
other government actions, fluctuations in gold prices and exchange rates, and
business and operational risk management. For a discussion of such factors,
refer to AngloGold Ashanti`s annual report for the year ended 31 December 2008,
which was distributed to shareholders on 27 March 2009 and the company`s annual
report on Form 20-F, filed with the Securities and Exchange Commission in the
United States on May 5, 2009 as amended on May 6, 2009. AngloGold Ashanti
undertakes no obligation to update publicly or release any revisions to these
forward-looking statements to reflect events or circumstances after today`s date
or to reflect the occurrence of unanticipated events. All subsequent written or
oral forward-looking statements attributable to AngloGold Ashanti or any person
acting on its behalf are qualified by the cautionary statements herein.
AngloGold Ashanti posts information that is important to investors on the main
page of its website at www.anglogoldashanti.com and under the "Investors" tab on
the main page. This information is updated regularly. Investors should visit
this website to obtain important information about AngloGold Ashanti.
Date: 19/02/2010 14:03:03 Supplied by www.sharenet.co.za
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