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ANG - Anglogold Ashanti: Mankayi Case - Constitutional Court Ruling

Release Date: 03/03/2011 13:50
Code(s): ANG
Wrap Text

ANG - Anglogold Ashanti: Mankayi Case - Constitutional Court Ruling 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") ANGLOGOLD ASHANTI: MANKAYI CASE - CONSTITUTIONAL COURT RULING AngloGold Ashanti learned today of the death of Mr Thembekile Mankayi. We wish to offer our condolences to his family and friends. The company has noted the decision of the Constitutional Court to grant Mr Mankayi leave to appeal against the decision of the Supreme Court of Appeal which itself upheld the June 2008 Johannesburg High Court decision that employees who qualify for benefits in respect of the Occupational Diseases in Mines and Works Act (ODMWA) may not, in addition, lodge civil claims against their employers in respect of their relevant conditions. We are still studying the details of the judgment. Our initial impression is that should the Executor of Mr Mankayi`s estate wish to pursue his claim, he or she will now need to return to the High Court to continue with the litigation action. AngloGold Ashanti will defend the case on its merits. Should other individuals lodge similar claims, these too would ultimately be defended by the Company and judged on their merits. We acknowledge that this case highlights a number of occupational health challenges faced by the mining industry including AngloGold Ashanti. These are challenges we have been working to address for some time. They include: - Working to improve the management of dust underground so as to eliminate future incidences of occupational lung disease. - Working through the Chamber of Mines and with the Department of Health and the NUM, on a project to improve the access of former mineworkers suffering from occupational lung disease to health care and to the benefits provided for by the Occupational Diseases in Mines and Works Act (ODMWA) and to improve the operation of the statutory compensation fund. This project also involves community economic development programmes in areas where former mineworkers reside. - Working actively in tripartite forums on the rationalisation and reform of the statutory framework for compensation in respect of occupational lung disease, seeking to achieve this in a manner that eliminates anomalies in the application of the legislation, but does not threaten the viability of the industry and the jobs of the people employed in it. ENDS 3 March 2011 JSE Sponsor - UBS Contacts Tel: E-mail: Alan Fine (Media) +27 11 637 6383 afine@AngloGoldAshanti.com Mike Bedford (Investor) +27 11 637 6273 mbedford@anglogoldashanti.com Stewart Bailey(Investor) +1 2128364303 sbailey@anglogoldashanti.com or +27 82 330 9628 Certain statements made in this communication, including, without limitation, those concerning 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, the completion of announced mergers and acquisitions transactions, AngloGold Ashanti`s liquidity and capital resources, and expenditure and the outcome and consequences of any litigation proceedings or environmental issues, 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 including environmental approvals and actions, fluctuations in gold prices and exchange rates, and business and operational risk management. For a discussion of certain of these factors, refer to AngloGold Ashanti`s annual report for the year ended 31 December 2009, which was distributed to shareholders on 30 March 2010. The company`s annual report on Form 20-F, was filed with the Securities and Exchange Commission in the United States on April 19, 2010 and as amended on May 18, 2010. 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: 03/03/2011 13:50:00 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.

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