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ANGLOGOLD ASHANTI LIMITED - AngloGold Ashanti Announces Potential Disposal of Kopanang Mine

Release Date: 15/09/2017 13:45
Code(s): ANG     PDF:  
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AngloGold Ashanti Announces Potential Disposal of Kopanang Mine

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
(“AngloGold Ashanti” or the “Company”)


15 September 2017

NEWS RELEASE

AngloGold Ashanti Announces Potential Disposal of Kopanang Mine

(JOHANNESBURG – PRESS RELEASE) -- AngloGold Ashanti informed shareholders in a
press release on 28 June 2017 that it had started a consultation process to restructure its
South African operations, with the aim of ensuring that this business could be safely returned
to profitability, whilst mitigating job losses. (“Restructuring of AngloGold Ashanti’s South
African Operations to Ensure Their Viability”).

This restructuring process includes the Kopanang Mine ceasing operations and transitioning
to care and maintenance. Subsequent to this announcement and based on unsolicited
expressions of interest received from a number of parties, AngloGold Ashanti initiated a
process to assess the sale of the Kopanang Mine (the “Potential Sale”).

In this regard, a memorandum of understanding (MOU) has now been signed with a selected
party. This MOU could result in a sale agreement being concluded with the selected party.
Organised labour will be consulted as part of the Potential Sale.

Should the Potential Sale be successfully concluded, this will have a positive impact on the
restructuring referred to above. The Kopanang Mine would no longer be placed on care and
maintenance but would continue to operate under the ownership of the selected party. In
terms of the memorandum of understanding, it has been agreed that the severance benefits
due to all Kopanang employees will be paid out by AngloGold Ashanti on the closing of the
Potential Sale. Should the Potential Sale not proceed, the severance benefits will be paid to
employees on conclusion of the restructuring process announced on 28 June 2017 and the
Kopanang Mine will move to care and maintenance.

The Potential Sale, if concluded, would not be a categorised transaction in terms of the JSE
Limited Listings Requirements. Whether an agreement to sell the Kopanang Mine is
concluded remains uncertain at this time and any such agreement will be conditional upon
securing a number of regulatory approvals. A further announcement will be made once the
disposal process is concluded.

Ends

Johannesburg
JSE Sponsor: Deutsche Securities (SA) Proprietary Limited
CONTACTS

Media
Chris Nthite                                   +27 11 637 6388/+27 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                               +1 646 880 4526/ +1 646 379 2555
                                               sbrockman@anglogoldashanti.com
Fundisa Mgidi                                  +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, 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 2016, which
was filed with the United States Securities and Exchange Commission (“SEC”). 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.

The financial information contained in this news release has not been reviewed or reported on by the Company's external auditors.

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.



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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