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ANGLO AMERICAN PLC - Anglo American statement re. Pebble project

Release Date: 16/09/2013 11:00
Code(s): AGL     PDF:  
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Anglo American statement re. Pebble project

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

16 September 2013

Anglo American statement re. Pebble project

Anglo American plc (“Anglo American”) announces that its wholly owned US subsidiary Anglo
American (US) Pebble LLC (“AA Pebble”) has given notice under the Pebble limited partnership
agreement that it is withdrawing from the Pebble copper project in Alaska. The Pebble Limited
Partnership (PLP) was created in 2007 between AA Pebble and an affiliate of Northern Dynasty
Minerals Ltd. (“Northern Dynasty”), who are equal partners in PLP. Following the withdrawal,
PLP will proceed under the sole ownership of Northern Dynasty.

In light of the parties’ shared desire to ensure an orderly exit, the detailed aspects of AA
Pebble’s withdrawal from the Pebble project are being developed and implemented.

Anglo American expects to record an impairment charge of $0.3bn at 31 December 2013 on a
post-tax basis.

Mark Cutifani, Chief Executive of Anglo American, said: “Despite our belief that Pebble is a
deposit of rare magnitude and quality, we have taken the decision to withdraw following a
thorough assessment of Anglo American’s extensive pipeline of long-dated project options. Our
focus has been to prioritise capital to projects with the highest value and lowest risks within our
portfolio, and reduce the capital required to sustain such projects during the pre-approval
phases of development as part of a more effective, value-driven capital allocation model. We
wish the project well through its forthcoming permitting process and express our thanks to all
those who have supported Pebble and who recognise the opportunities and benefits that such
an investment may bring to Alaska.”

Anglo American will provide further updates as appropriate.

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


Sponsor: UBS South Africa (Pty) Ltd

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. Our portfolio of mining
businesses meets our customers’ changing needs and spans bulk commodities – iron ore and
manganese, metallurgical coal and thermal coal; base metals and minerals – copper, nickel,
niobium and phosphates; and precious metals and minerals – in which we are a global leader
in both platinum and diamonds. At Anglo American, we are committed to working together with
our stakeholders – our investors, our partners and our employees – to create sustainable value
that makes a real difference, while upholding the highest standards of safety and responsibility
across all our businesses and geographies. The company’s mining operations, 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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