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AngloGold Ashanti Says Sheppard to Replace Retiring COO: South Africa
AngloGold Ashanti Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1944/017354/06)
ISIN: ZAE000043485 – JSE share code: ANG
CUSIP: 035128206 – NYSE share code: AU
(‘AngloGold Ashanti’ or the ‘Company’)
10 March, 2015
NEWS RELEASE
AngloGold Ashanti Says Sheppard to Replace Retiring COO: South Africa
(JOHANNESBURG -- PRESS RELEASE) – AngloGold Ashanti is pleased to announce the appointment of Chris Sheppard,
a thirty-year veteran of South Africa’s ultra-deep underground mining sector as incoming Chief Operating Officer: South
Africa. He will replace the incumbent Mike O’Hare who plans to take early retirement during the course of 2015 after a
distinguished career of almost forty years with the Company.
Chris’ appointment as Chief Operating Officer: South Africa will be effective 1 June 2015 at which point he will also join the
Company’s executive committee. Mike will support Chris during the course of the year to ensure an orderly handover.
“We are extremely pleased to have someone of Chris’ calibre, and with his deep experience of underground mining in South
Africa, to take the helm,” Chief Executive Officer Srinivasan Venkatakrishnan said. “Chris has a unique set of skills that will
help us to continue enhancing safety, driving business improvement, tighter cost control and the technological development
that Mike has championed.”
Chris, a mining engineer by profession, was most recently Managing Director of Murray & Roberts Cementation, one of
Africa’s largest mining contractors and a division of South Africa’s largest publicly traded engineering & construction group.
Over more than four years Chris had oversight across several countries and mineral types of activities including mining, shaft
sinking, tunnelling, raise drilling, mine development and exploration drilling. He also led the drive to adapt the business to
the challenging market conditions that have affected the global mining sector.
Prior to that, Chris held positions as head of both mining and technical services at Lonmin Plc for four years, following six
years at Anglo American Platinum Ltd., where he most recently held the post of Head Mining Technical Services. Chris is
also an alumnus of Anglo American Plc’s Gold & Uranium Division and AngloGold Ltd., where he served latterly as general
manager of deep gold mining operations in the Free State between 1997 and 2001. Chris holds a Bsc in Mining Engineering
from the University of the Witwatersrand, and also completed an Advanced Management Programme at Harvard Business
School and a Management Development Programme at the University of South Africa.
Mike O’Hare has had an exemplary career at AngloGold Ashanti, holding a range of high-level technical and operating roles
during his career which started in 1977. Mike oversaw the successful completion of the ultra-deep mine-life extension at
Mponeng Phase 1, championed the development of raise boring technology as a credible way to safely extract high-grade
gold pillars that would otherwise be sterilised, and led the successful integration of the large Mine Waste Solutions surface
reclamation operation into AngloGold Ashanti’s portfolio. Crucially, while navigating the most challenging market conditions
in recent memory, Mike has also led AngloGold Ashanti’s South African operations to a record safety performance in which it
achieved more seven months of full operation without a fatality in 2014, unprecedented for a deep South African gold mining
business.
“Mike’s choice of early retirement is richly deserved after an immense contribution to this Company and to the industry as a
whole,” Chief Executive Officer Srinivasan Venkatakrishnan said. “I thank him for all of his support over the years and we
wish both him and his family well in the coming years.”
About AngloGold Ashanti’s South African Operations
AngloGold Ashanti, based in Johannesburg, is the world’s largest emerging markets gold company and the lowest-cost gold
producer in South Africa. In 2014, the company’s five underground- and two surface-mining operations in South Africa
produced about 1.2Moz of gold, or 28% of AngloGold Ashanti’s total output of 4.44Moz. The remainder of AngloGold
Ashanti’s gold production comes from mines in countries in Africa including Guinea, Democratic Republic of Congo, Ghana,
Tanzania and Mali, as well as those in Australia, Brazil, Argentina and the US.
AngloGold Ashanti is currently in the process of combining neighbouring mines in the Vaal River Region in South Africa in
order to realise infrastructural and management synergies, while reaping operating savings from sharing common services.
ENDS
10 March 2015
Johannesburg
JSE Sponsor: Deutsche Securities (SA) Proprietary Ltd
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
General inquiries media@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, all-in 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, dispositions or joint venture transactions, AngloGold Ashanti’s liquidity and
capital resources and capital expenditures and the outcome and consequence 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.
AngloGold Ashanti Limited
Incorporated in the Republic of South Africa Reg No: 1944/017354/06
ISIN. ZAE000043485 – JSE share code: ANG CUSIP: 035128206 – NYSE share code: AU
Website: www.anglogoldashanti.com
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