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ANG - AngloGold Ashanti Limited - Update on Anglogold Ashanti`s Savuka 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")
UPDATE ON ANGLOGOLD ASHANTI`S SAVUKA MINE
As previously announced, a series of seismic events occurred close to the shaft
infrastructure at Savuka mine on 22 May. Of Savuka`s three-shaft system, the
primary and tertiary shafts have not been damaged. However, the sub-shaft barrel
below 100 level has been damaged, together with shaft installations on 101 and
102 levels - which is the main infrastructure supporting Savuka`s Carbon Leader
Reef production.
Operational staff are assessing the best way to rehabilitate the sub-shaft
infrastructure and the degree to which select mining on the Ventersdorp Contact
Reef at Savuka can continue while this work is undertaken. There will only be a
low volume of production from the main shaft area for the remainder of the
second quarter.
The company will clarify the impact of production losses at Savuka, together
with additional losses due to other safety related stoppages experienced during
the quarter, once the production quarter is closed.
Savuka produced 14,000 ounces in the first quarter of 2009 and 66,000 ounces of
gold in 2008, just over 1% of AngloGold Ashanti`s production. The company will
also update annual guidance with the release of the second quarter`s results on
31 July 2009.
End
Johannesburg
10 June 2009
JSE Sponsor : UBS
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
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.
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.anglgoldashanti.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: 10/06/2009 09:00:01 Supplied by www.sharenet.co.za
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