| Tue 29 Jan 2008, 15:15 | | ANG - Anglogold Ashanti Begins Process To Restart Production |
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ANG
ANANO
ANG - Anglogold Ashanti Begins Process To Restart Production
AngloGold Ashanti Limited
Incorporated in the Republic of South Africa
Registration Number: 1944/017354/06)
ISIN Number: ZAE000043485
JSE Share Code: ANG
ANGLOGOLD ASHANTI BEGINS PROCESS TO RESTART PRODUCTION
Following a meeting this morning between Eskom and industrial electricity
consumers, AngloGold Ashanti has commenced the process of bringing back into
production all of its underground mines and their associated gold treatment
plants. It is anticipated that all mines will be back in full production by the
end of next week.
These plans are based on an expectation that AngloGold Ashanti will be able
to draw on 90% of its demand prior to last week`s shut-down. Indications are
that it will not immediately be in a position to process surface sources in the
Vaal River area due to the reduced power supply. However, the company will
continue to consider means of increasing energy efficiency measures in
discussions with Eskom in order to bring surface sources to account so as to
return to normal production.
It is not possible at this time to estimate the operating and financial
consequences of the current events. Further details will be provided when the
company presents its results for the fourth quarter on 7 February 2008.
ENDS
AGA05.08
29 January 2008
JSE Sponsor - UB
Queries
South Africa Tel: Mobile:
Steven Lenahan +27 (0) 11 637 6248 +27 (0) 83 308 2200
E-mail: slenahan@AngloGoldAshanti.com
Alan Fine +27(0)11 637 6383 +27(0)83 350 0757
E-mail: affine@AngloGoldAshanti.com
Certain statements made during this communication, including, without
limitation, those concerning the economic outlook for the gold mining industry,
expectations regarding gold prices, production, cash costs and other operating
results, growth prospects and the outlook of AngloGold Ashanti`s operations
including the completion and commencement of commercial operations of certain of
AngloGold Ashanti`s exploration and production projects, and its liquidity and
capital resources and expenditure, contain certain forward-looking statements
regarding AngloGold Ashanti`s operations, economic performance and financial
condition. 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 and market conditions,
success of business and operating initiatives, changes in the regulatory
environment and other government actions, fluctuations in gold prices and
exchange rates, and business and operational risk management. For a discussion
of such factors, refer to AngloGold Ashanti`s annual report for the year ended
31 December 2006, which was distributed to shareholders on 29 March 2007.
AngloGold Ashanti undertakes no obligation to update publicly or release any
revisions to these forward-looking statements to reflect events or circumstances
after today`s date or to reflect the occurrence of unanticipated events.
In connection with the proposed merger transaction involving AngloGold
Ashanti and Golden Cycle Gold Corporation, AngloGold Ashanti will file with the
SEC a registration statement on Form F-4 and GCGC will mail a proxy
statement/prospectus to its stockholders, and each will be filing other
documents regarding the proposed transaction with the U.S. Securities and
Exchange Commission ("SEC") as well. BEFORE MAKING ANY VOTING OR INVESTMENT
DECISION, INVESTORS ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS REGARDING
THE PROPOSED TRANSACTION AND ANY OTHER RELEVANT DOCUMENTS CAREFULLY WHEN THEY
BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE
PROPOSED TRANSACTION. The final proxy statement/prospectus will be mailed to
GCGC`s stockholders. Stockholders will be able to obtain a free copy of the
proxy statement/prospectus, as well as other filings containing information
about AngloGold Ashanti and GCGC, without charge, at the SEC`s Internet site
(http://www.sec.gov). Copies of the proxy statement/prospectus and the filings
with the SEC that will be incorporated by reference in the proxy
statement/prospectus can also be obtained, without charge, by directing a
request to AngloGold Ashanti, 76 Jeppe Street, Newtown, Johannesburg, 2001 (PO
Box 62117, Marshalltown, 2107) South Africa, Attention: Investor Relations, +27
11 637 6385, or to Golden Cycle Gold Corporation, 1515 S. Tejon, Suite 201,
Colorado Springs, CO 80906, Attention: Chief Executive Officer, (719) 471-9013."
Date: 29/01/2008 15:15:51 Produced by the JSE SENS Department.
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