ANGLO AMERICAN PLC - Anglo American update on Minas-Rio iron ore project

Anglo American update on Minas-Rio iron ore project

Anglo American plc (“the Company”)
Incorporated in the United Kingdom
(Registration number: 3564138)
Short name: Anglo
Share code: AGL
ISIN number: GB00B1XZS820


13 November 2012

Anglo American update on Minas-Rio iron ore project

Anglo American plc (“Anglo American”) announces an update in relation to its 26.5 mtpa Minas-
Rio iron ore project in Brazil.

In its Half-Year Financial Report in July 2012, Anglo American reported that, subject to
resolving the existing licensing challenges facing the Minas-Rio project by the end of 2012 and
not encountering additional unexpected interventions, first ore on ship was anticipated to be
delayed to the second half of 2014.

Since July, work has continued to resolve the licensing challenges. These included three
injunctions affecting construction activities at the beneficiation plant, as well as land access
issues affecting the 525 km pipeline route.

Two of the three injunctions were satisfactorily removed during September 2012, enabling
construction of the primary crusher and conveyor system at the mine site and pre-stripping
work to resume. The third injunction, which affects the construction of the electricity
transmission line, remains, despite the licence having been awarded in March 2012, and efforts
to resolve the issue continue with the regulatory and governmental authorities. Work also
continues to complete the land access programme for the pipeline.

Construction progress is on schedule in relation to the elements of the project programme that
are unaffected by legal or land access constraints.

Anglo American is carrying out a detailed cost review to assess the impact of the already
announced delay and the other disruptive challenges faced by the project which include high
cost inflation across the construction industry in Brazil. The review includes an independent
external assessment commissioned by the Board.

Anglo American will provide further detailed information in relation to Minas-Rio when the cost
review has been completed and the remaining challenges affecting the project timetable have
been resolved. However, the current indications are that capital expenditure for the project is
unlikely to be less than the $8.0 billion upper end of the current range of analysts’ expectations.

Sponsor: UBS South Africa (Pty) Ltd




Anglo American plc
20 Carlton House Terrace London SW1Y 5AN United Kingdom
Tel: +44 (0)20 7968 8888 Fax: +44 (0)20 7968 8500
Registered office as above. Incorporated in England and Wales under the Companies Act 1985. Registered Number 3564138
For further information, please contact:

Media                                                   Investors
UK                                                      UK
James Wyatt-Tilby                                       Leng Lau
Tel: +44 (0)20 7968 8759                                Tel: +44 (0)20 7968 8540

Emily Blyth                                             Caroline Crampton
Tel: +44 (0)20 7968 8481                                Tel: +44 (0)20 7968 2192

South Africa                                            Sarah McNally
Pranill Ramchander                                      Tel: +44 (0)20 7968 8747
Tel: +27 (0)11 638 2592


Notes to editors:
Anglo American is one of the world’s largest mining companies, is headquartered in the UK and
listed on the London and Johannesburg stock exchanges. Anglo American’s portfolio of mining
businesses spans bulk commodities – iron ore and manganese, metallurgical coal and thermal
coal; base metals – copper and nickel; and precious metals and minerals – in which it is a
global leader in both platinum and diamonds. Anglo American is committed to the highest
standards of safety and responsibility across all its businesses and geographies and to making
a sustainable difference in the development of the communities around its operations. The
company’s mining operations, extensive pipeline of growth projects and exploration activities
span southern Africa, South America, Australia, North America, Asia and Europe.
www.angloamerican.com

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