| Thu 11 Feb 2010, 9:48 | | AGL - Anglo American Plc supports De Beers` $1 billion rights issue |
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AGL
ANAAL
AGL - Anglo American Plc supports De Beers` $1 billion rights issue
Anglo American plc
Incorporated in the United Kingdom
(Registration number: 3564138)
Short name: Anglo
Share code: AGL
ISIN number: GB00B1XZS820
("Anglo American plc" or "the company")
Anglo American supports De Beers` $1 billion rights issue
Anglo American plc announces that it has undertaken to subscribe in full to its
entitlement to the $1 billion rights issue announced today by its 45% owned
associate company, De Beers. Anglo American will invest $450 million in equity
as part of a commitment by each of the three shareholders in De Beers to pro
rata equity contributions.
During 2009, De Beers implemented a successful restructuring of its business and
achieved significant efficiency improvements and cost reductions, with
production and operating costs reduced by 45% and a 23% reduction in its global
workforce as production was brought in line with demand.
The rights issue forms part of a wider refinancing package for De Beers designed
to provide the company with a more appropriate capital structure and to secure
ongoing banking facilities, at a time when the demand outlook for diamonds is
improved, and to enable De Beers to invest in its future growth as the world`s
leading diamond business.
For further information, please contact:
United Kingdom
James Wyatt-Tilby, Media Relations
Tel: +44 (0)20 7968 8759
Caroline Metcalfe, Investor Relations
Tel: +44 (0)20 7968 2192
Leisha Wemyss, Investor Relations
Tel : +44 (0)20 7968 8607
South Africa
Pranill Ramchander, Media Relations
Tel: +27 (0)11 638 2592
Anna Poulter, Investor Relations
Tel: +27 (0)11 638 2079
Notes to Editors:
Anglo American plc is one of the world`s largest mining groups. With its
subsidiaries, joint ventures and associates, it is a global leader in platinum
group metals and diamonds, with significant interests in copper, iron ore,
metallurgical coal, nickel and thermal coal, as well as a divestment portfolio
of other mining and industrial businesses. The Group is geographically diverse,
with operations in Africa, Europe, South and North America, Australia and Asia.
www.angloamerican.co.uk
11 February 2010
Sponsor: UBS South Africa (Pty) Ltd
Date: 11/02/2010 09:48:02 Produced by the JSE SENS Department.
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