To view the PDF file, sign up for a MySharenet subscription.

ANGLOGOLD ASHANTI LIMITED - AngloGold Ashanti Provides Update on Status of South African Assets

Release Date: 24/03/2020 11:00
Code(s): ANG     PDF:  
Wrap Text
AngloGold Ashanti Provides Update on Status of South African Assets

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 “AGA” or the “Company”)


PRESS RELEASE

24 March 2020

AngloGold Ashanti Provides Update on Status of South African Assets

(Press Release) – AngloGold Ashanti notes the announcement on Monday evening by
South Africa’s State President Cyril Ramaphosa that the country would go into a nationwide
lockdown for 21 days in an effort to slow the spread of COVID-19.
The health and safety of our employees remains our first priority. AngloGold Ashanti is fully
supportive of efforts to slow the spread of COVID-19, and is working alongside the
authorities in this regard.
As a result of the President’s order, AngloGold Ashanti will temporarily suspend production
from its South African Operations for three weeks as of midnight on 26 March 2020. These
operations will be safely placed into care and maintenance over that period. Plans will be
developed to help safely regain production delayed by this shutdown, where possible.
The South African operations include the Mponeng Mine, Mine Waste Solutions and surface
rock-dump processing operations. These operations produced 419,000oz for the year ended
31 December 2019.

An agreement has been reached to sell these assets to Harmony Gold Mining Co., a
transaction which is expected to close on about June 30 of this year, subject to certain
conditions precedent. Both parties remain committed to the transaction.
AngloGold Ashanti announced on Friday, 20 March 202020, that it would suspend
production at its Cerro Vanguardia mine in Argentina until the end of the March, in line with a
suite of COVID-19-related work and travel restrictions imposed by the Argentinian
Government.

The rest of AngloGold Ashanti’s mines continue to operate normally, employing a suite of
measures to mitigate the risk of the spread of the COVID-19 virus.
AngloGold Ashanti is continually monitoring the situation related to the COVID-19 outbreak
as it unfolds and remains in close contact with authorities in each country, with our
employees and with our key suppliers and other business partners, to help ensure business
continuity and mitigate any interruptions that may occur.

For additional information on AngloGold Ashanti’s response to COVID-19, please refer to our
website.

Ends

Johannesburg
JSE Sponsor: The Standard Bank of South Africa Limited

CONTACTS
Media
Stewart Bailey +27 11 637 6031 / +27 81 032 2563 sbailey@anglogoldashanti.com

General inquiries
media@anglogoldashanti.com

Investors
Sabrina Brockman +1 646 880 4526/ +1 646 379 2555 sbrockman@anglogoldashanti.com
Yatish Chowthee +27 11 637 6273 / +27 78 364 2080 yrchowthee@anglogoldashanti.com
Fundisa Mgidi +27 11 637 6763 / +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 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 2018, which has been 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 document has not been reviewed or reported on by the Company’s external auditors.
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.
Website: www.anglogoldashanti.com

Date: 24-03-2020 11:00:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.

Share This Story