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Rand Refinery and Corporate update
AngloGold Ashanti Limited
(Incorporated in the Republic of South Africa
Reg. No. 1944/017354/06)
ISIN No. ZAE000043485 – JSE share code: ANG
CUSIP: 035128206 – NYSE share code: AU
25 July 2014
NEWS RELEASE
ANGLOGOLD ASHANTI – RAND REFINERY AND CORPORATE UPDATE
(JOHANNESBURG – PRESS RELEASE) – Shareholders are referred to today’s announcement by Rand Refinery
regarding a loan facility extended to it by certain of its shareholders, as a precautionary measure. This follows
challenges encountered in the implementation of a new Enterprise Resource Planning system at the refinery.
AngloGold Ashanti confirms its participation in the loan facility.
AngloGold Ashanti owns a 42.41% stake in the Rand Refinery and accounts for it using the equity accounting
method as an associate. AngloGold Ashanti expects to make a provision in its accounts for $51m, which will
impact second quarter earnings scheduled for release on August 11.
In addition, AngloGold Ashanti notes that costs incurred in the previously announced closure of the Yatela
mine in Mali, and ongoing restructuring at its Obuasi mine in Ghana, will also impact earnings for the second
quarter.
Over the past 18 months, AngloGold Ashanti has taken decisive steps to adapt to the sharp decline in the gold
price by reducing costs and improving the overall quality of its portfolio to improve cash flow and returns. Part
of that strategy is the closure of its Yatela mine in Mali and implementation of a range of interventions to
address historic underperformance of the Obuasi mine in Ghana.
Sponsor to AngloGold Ashanti
UBS South Africa (Pty) Limited
ENDS
Contacts
Media
Chris Nthite +27 (0) 11 637 6388/+27 (0) 83 301 2481 cnthite@anglogoldashanti.com
Stewart Bailey +27 81 032 2563 / +27 11 637 6031 sbailey@anglogoldashanti.com
Investors
Stewart Bailey +27 81 032 2563 / +27 11 637 6031 sbailey@anglogoldashanti.com
Sabrina Brockman (US & Canada) +1 (212) 858 7702 / +1 646 379 2555 sbrockman@anglogoldashanti.com
Fundisa Mgidi (South Africa) +27 11 6376763 / +27 82 821 5322 fmgidi@anglogoldashanti.com
Certain statements contained in this document, other than statements of historical fact, including, without limitation, those concerning the economic outlook for the gold
mining industry, expectations regarding gold prices, production, cash costs, all-in sustaining costs, cost savings and other operating results, return on equity, productivity
improvements, growth prospects and outlook of AngloGold Ashanti’s operations, individually or in the aggregate, including the achievement of project milestones,
commencement and completion of commercial operations of certain of AngloGold Ashanti’s exploration and production projects and the completion of acquisitions and
dispositions, AngloGold Ashanti’s liquidity and capital resources and capital expenditures and the outcome and consequences of any potential or pending litigation or
regulatory proceedings or environmental, health, and safety issues, are forward-looking statements regarding AngloGold Ashanti’s operations, economic performance and
financial condition. These forward-looking statements or forecasts involve known and unknown risks, uncertainties and other factors that may cause AngloGold Ashanti’s
actual results, performance or achievements to differ materially from the anticipated results, performance or achievements expressed or implied in these forward-looking
statements. Although AngloGold Ashanti believes that the expectations reflected in such forward-looking statements and forecasts 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, social and political and market conditions, the success of business and operating initiatives, changes in the regulatory environment and
other government actions, including environmental approvals, fluctuations in gold prices and exchange rates, the outcome of pending or future litigation proceedings, and
business and operational risk management. For a discussion of such risk factors, refer to AngloGold Ashanti’s annual report on Form 20-F for the year ended 31 December
2013 which was filed with the United States Securities and Exchange Commission (“SEC”) on 14 April 2014. These factors are not necessarily all of the important factors that
could cause AngloGold Ashanti’s actual results to differ materially from those expressed in any forward-looking statements. Other unknown or unpredictable factors could
also have material adverse effects on future results. Consequently, readers are cautioned not to place undue reliance on forward-looking statements. AngloGold Ashanti
undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect
the occurrence of unanticipated events, except to the extent required by applicable law. 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.
This communication may contain certain “Non-GAAP” financial measures. AngloGold Ashanti utilises certain Non-GAAP performance measures and ratios in managing its
business. Non-GAAP financial measures should be viewed in addition to, and not as an alternative for, the reported operating results or cash flow from operations or any other
measures of performance prepared in accordance with IFRS. In addition, the presentation of these measures may not be comparable to similarly titled measures other
companies may use. 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: 25/07/2014 12:01:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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