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ANGLOGOLD ASHANTI LIMITED - AngloGold Ashanti Sees Significant Step Change Improvement at Sunrise Dam

Release Date: 05/07/2018 12:30
Code(s): ANG ANG013
Wrap Text
AngloGold Ashanti Sees Significant Step Change Improvement at Sunrise Dam

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
JSE Bond Company Code - BIANG
(“AngloGold Ashanti” or the “Company”)


5 July 2018

AngloGold Ashanti Sees Significant Step Change Improvement at Sunrise Dam

(JOHANNESBURG – PRESS RELEASE) --- AngloGold Ashanti is pleased to report that the commissioning
of the Recovery Enhancement Project at its Sunrise Dam Gold Mine in Western Australia was
successfully completed on time at the end of June 2018, cementing the next step in the mine’s
renaissance.

Development of the large, high-grade Vogue orebody at Sunrise Dam Gold Mine is now underway,
which along with improved recoveries, increased mining volumes and a range of productivity
enhancements, is expected to result in an increase in production of around 25%, to about 300,000
ounces in 2018. AngloGold Ashanti will today map out the plan to sustain long-term production from
the mine at 300,000 – 350,000 ounces a year, with all-in sustaining cost trending toward $900/oz in
coming years, making this one of Australia’s most important gold mines and a cornerstone asset for
the group.

“With a combination of innovation, strict capital discipline and incremental investment, we will see a
significant step up in production and a reduction in our all-in-sustaining costs over time,” said Mike
Erickson, AngloGold Ashanti’s Senior Vice President for Australia, said. “We are on an exciting
improvement pathway at Sunrise Dam Gold Mine which will enable us to optimise the development
world-class orebody and achieve sustainable cash margins over the life of mine.”

AngloGold Ashanti continues to prize strict capital discipline and high-return projects with relatively
low capital expenditure, as it executes on its strategy to improve free cash flow generation and returns
over time.

A presentation about the impact of the new flotation/fine grind circuit along with the evolution of the
mining and exploration strategy at the operation will be delivered in a webcast by AngloGold Ashanti
SVP Australia, Michael Erickson at 1pm, Johannesburg time, today, 5 July 2018.

A copy of the presentation, and details of the Webcast can be found at: www.anglogoldashanti.com

Johannesburg
JSE Sponsor: Deutsche Securities (SA) Proprietary Limited

Any forward looking information contained in this announcement has not been reviewed by our
external auditors.
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, total 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 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 reports on Form 20-F filed with the United States Securities and Exchange Commission. 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.

Non-GAAP financial measures
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.

Website: www.anglogoldashanti.com

Date: 05/07/2018 12:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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