ANGLO AMERICAN PLC - NEWS RELEASE
Anglo American plc
(Incorporated in the United Kingdom)
Registration number: 3564138
Share code: AGL
ISIN: GB0004901517
(the `Company`)
News Release
Anglo American decides not to serve notices in terms of the Instruction of Legal
Proceedings against Certain Organs of State Act, 2002 (ILPA)
The terms of the ILPA require those pursuing any action for damages or
compensation against the State, to give notice of any such claims within six
months of the arising thereof. Failure to have given any such notice in terms
of the Minerals and Petroleum Products Development Act (MPRDA) on or before 31
October 2004 could result in these claims being disallowed.
The Anglo American Group has decided not to serve any notices in respect of the
claims which may arise as a consequence of MPRDA.
The Group, with its associate companies, is well advanced in the process of
applying for the conversion of old order rights to new order rights in terms of
the MPRDA. We note the announcement that one major mining company has achieved
the conversion of certain of the old order rights. We are confident that we will
similarly be able to convert our rights.
In this regard the Ministry of Minerals and Energy has advised the mining
industry in writing at the highest level and in a subsequent joint press
release, that the ILPA will not apply to any claims for compensation that might
arise as a result of the MPRDA. The Minister of Minerals and Energy has further
advised that the ILPA will not be relied upon in defending any such claims for
compensation. The Anglo American Group therefore sees no need to lodge any
notices in terms of the ILPA.
The Anglo American Group remains emphatically committed to the Mining Charter
and its effective implementation.
The Anglo American Group acknowledges with appreciation the constructive spirit
in which Government has addressed the concerns of the mining industry and is
confident that the early conversion of rights will dispel the uncertainty which
surrounds mineral rights in terms of the MPRDA.
ends
Johannesburg
1 November 2004
Sponsor
Cazenove
Date: 01/11/2004 10:01:17 AM
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