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WORSLEY REPLACED AS MANAGER OF BODDINGTON GOLD MINE JV
(AngloGold Ltd
Incorporated in the Republic of South Africa)
(Registration Number: 1944/017354/06) 16th Floor, 11 Diagonal Street,
Johannesburg 2001, South Africa
ISIN Number:ZAE000014601 Tel: (+27 11) 637-6385 or Fax: (+27 11) 637-6399/6400
AngloGold Australia Ltd
ASX Code: AGG Level 13, 44 St Georges Tce, Perth, WA 6000, Australia
JSE Code: ANG Tel: (+61 8) 9425 4600 or Fax: (+61 8) 9425 4662
NYSE Ticker: AU 2 October 2002
WORSLEY REPLACED AS MANAGER OF BODDINGTON GOLD MINE JV
The Boddington Gold Mine Joint Venture Partners this week signed restated
project agreements to enable Worsley Alumina Pty Limited to be replaced as
manager of the Boddington Gold Mine ("BGM"), located 120 kilometres south of
Perth.
BGM Management Company Pty Limited ("BGMMCO") will replace Worsley Alumina,
which has managed the West Australian operation on behalf of the BGM Joint
Venturers since 1987, commencing 1 October 2002.
BGMMCO is owned by the BGM Joint Venturers in proportion to their current
interest in Boddington i.e.: Newmont Boddington Pty Limited 44.44%, AngloGold
Australia Limited 33.33% and Newcrest Operations Limited, 22.22%.
In all material respects, except for the change in manager, the restated and new
agreements mirror the previous agreements, particularly in areas impacting on
the rights of the participants.
A feasibility study design for the BGM Expansion Project was completed in 2000
and received endorsement from the BGM Joint Venturers. This study was based on
ore throughput of 25 million tonnes per annum to produce an average of 600,000
ounces of gold and 22,500 tonnes of copper per annum over a mine life of at
least 15 years.
Since completion of the feasibility study, the Joint Venturers have continued to
undertake further work within their own organisations to test various aspects of
the study, to better understand project risk and to identify opportunities for
enhancing returns. This work is likely to continue into the second quarter of
2003.
Environmental approvals associated with the BGM Expansion Project were received
by June 2002 and will remain valid for a period of five years.
Mining of oxide ore at BGM was completed in December 2001, after production of
almost 5 million ounces of gold. The site and facilities required for the
Boddington Expansion facilities have been placed on care and maintenance pending
a decision by the BGM Joint Venturers to proceed.
ends
www.anglogold.com
Queries:
Australia Tel: Mobile: E-mail:
Andrea Maxey +61 8 9425 4604 +61 (0) 438 001 393 amaxey@anglogold.com.au
South Africa Tel: Mobile: Email:
Steve Lenahan +27 11 637 6248 +27 83 308 2200 slenahan@anglogold.com
Shelagh Blackman +27 11 637 6379 +27 83 308 2471
skblackman@anglogold.com
Date: 03/10/2002 08:00:00 AM Produced by the JSE SENS Department
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