AngloGold Limited
(Incorporated in the Republic of South Africa)
(Registration Number: 1944/017354/06)
ISIN Number:ZAE000043485
JSE Share Code: ANG
NYSE Ticker: AU
ANGLOGOLD TO SELL AMAPARI
AngloGold announced today that it has signed an agreement to sell its wholly-
owned Amapari Project to Mineracao Pedra Branca do Amapari, for the total
consideration of US$18.2 million. The Amapari project is located in the State
of Amapa, North Brazil. Since acquiring the property as part of the package of
assets AngloGold purchased from Minorco in 1998, the Company has been seeking to
prove up additional reserve ounces in order to get it to a size and life was
would justify the management resources needed to run it effectively. This has
not yet been achieved and the Company has received an offer from a purchaser who
can constructively turn this orebody to account. AngloGold estimates the project
to have reserves of 9.8 million tonnes at 2.29 g/t.
Commenting on the transaction, Roberto Carvalho Silva, regional head for
AngloGold South America, said: "Although it has been a difficult decision to
dispose of the property, AngloGold has realised a fair price for it and I am
pleased that the project will be completed".
Background Note for Editors:
Mineracao Pedra Branca do Amapari is wholly-owned by Eike Batista, the
founder of TVX Gold, recently acquired by Kinross Gold Corporation.
Johannesburg
23 May 2003
Except for the historical information contained herein, the matters discussed in
this news release are forward-looking statements within the meaning of Section
27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities
Exchange Act of 1934. For a discussion of important factors and risks involved
in AngloGold"s business, refer to AngloGold"s annual report on Form 20-F for the
year ended 31 December 2002 which was filed with the U.S. Securities and
Exchange Commission on 7 April 2003.
Queries:
South Africa Tel: Mobile: E-mail:
Steve Lenahan +27116376248 +27833082200 slenahan@anglogold.com
Alan Fine +27116376383 +27832500757 afine@anglogold.com
Shelagh Blackman +27116376379 +27833082471 skblackman@anglogold.com
Date: 23/05/2003 04:49:34 PM Supplied by www.sharenet.co.za
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