AngloGold Ashanti Limited
(Incorporated in the Republic of South Africa)
Reg. No. 1944/017354/06)
ISIN No. ZAE000043485 - JSE share code: ANG
CUSIP: 035128206 - NYSE share code: AU
25July 2014
NEWS RELEASE
ANGLOGOLD ASHANTI - RAND REFINERY AND CORPORATE UPDATE
(JOHANNESBURG - PRESS RELEASE) - Shareholders are referred to today's
announcement by Rand Refinery regarding a loan facility extended to it by
certain of its shareholders, as a precautionary measure. This follows
challenges encountered in the implementation of a new Enterprise Resource
Planning system at the refinery. AngloGold Ashanti confirms its participation
in the loan facility.
AngloGold Ashanti owns a 42.41% stake in the Rand Refinery and accounts for it
using the equity accounting method as an associate. AngloGold Ashanti expects
to make a provision in its accounts for $51m, which will impact second quarter
earnings scheduled for release on August 11.
In addition, AngloGold Ashanti notes that costs incurred in the previously
announced closure of the Yatela mine in Mali, and ongoing restructuring at its
Obuasi mine in Ghana, will also impact earnings for the second quarter.
Over the past 18 months, AngloGold Ashanti has taken decisive steps to adapt to
the sharp decline in the gold price by reducing costs and improving the overall
quality of its portfolio to improve cash flow and returns. Part of that
strategy is the closure of its Yatela mine in Mali and implementation of a
range of interventions to address historic underperformance of the Obuasi mine
in Ghana.
Sponsor to AngloGold Ashanti
UBS South Africa (Pty) Limited
ENDS
Contacts
Media
Chris Nthite +27 (0) 11 637 6388/+27 (0) cnthite@anglogoldashanti.com
83 301 2481
Stewart Bailey +27 81 032 2563 / +27 11 637 sbailey@anglogoldashanti.com
6031
Investors
Stewart Bailey +27 81 032 2563 / +27 11 sbailey@anglogoldashanti.com
637 6031
Sabrina Brockman (US & +1 (212) 858 7702 / +1 646 sbrockman@anglogoldashanti.com
Canada) 379 2555
Fundisa Mgidi (South +27 11 6376763 / +27 82 821 fmgidi@anglogoldashanti.com
Africa) 5322
Certain statements contained in this document, other than statements of
historical fact, including, without limitation, those concerning the economic
outlook for the gold mining industry, expectations regarding gold prices,
production, cash costs, all-in sustaining costs, cost savings and other
operating results, return on equity, productivity improvements, growth
prospects and outlook of AngloGold Ashanti's operations, individually or in the
aggregate, including the achievement of project milestones, commencement and
completion of commercial operations of certain of AngloGold Ashanti's
exploration and production projects and the completion of acquisitions and
dispositions, AngloGold Ashanti's liquidity and capital resources and capital
expenditures and the outcome and consequences of any potential or pending
litigation or regulatory proceedings or environmental, health, and safety
issues, are forward-looking statements regarding AngloGold Ashanti's
operations, economic performance and financial condition. These forward-looking
statements or forecasts involve known and unknown risks, uncertainties and
other factors that may cause AngloGold Ashanti's actual results, performance or
achievements to differ materially from the anticipated results, performance or
achievements expressed or implied in these forward-looking statements. Although
AngloGold Ashanti believes that the expectations reflected in such
forward-looking statements and forecasts 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, social and
political and market conditions, the success of business and operating
initiatives, changes in the regulatory environment and other government
actions, including environmental approvals, fluctuations in gold prices and
exchange rates, the outcome of pending or future litigation proceedings, and
business and operational risk management. For a discussion of such risk
factors, refer to AngloGold Ashanti's annual report on Form 20-F for the year
ended 31 December 2013 which was filed with the United States Securities and
Exchange Commission ("SEC") on 14 April 2014. These factors are not necessarily
all of the important factors that could cause AngloGold Ashanti's actual
results to differ materially from those expressed in any forward-looking
statements. Other unknown or unpredictable factors could also have material
adverse effects on future results. Consequently, readers are cautioned not to
place undue reliance on forward-looking statements. AngloGold Ashanti
undertakes no obligation to update publicly or release any revisions to these
forward-looking statements to reflect events or circumstances after the date
hereof or to reflect the occurrence of unanticipated events, except to the
extent required by applicable law. All subsequent written or oral
forward-looking statements attributable to AngloGold Ashanti or any person
acting on its behalf are qualified by the cautionary statements herein.
This communication may contain certain "Non-GAAP" financial measures. AngloGold
Ashanti utilises certain Non-GAAP performance measures and ratios in managing
its business. Non-GAAP financial measures should be viewed in addition to, and
not as an alternative for, the reported operating results or cash flow from
operations or any other measures of performance prepared in accordance with
IFRS. In addition, the presentation of these measures may not be comparable to
similarly titled measures other companies may use. AngloGold Ashanti posts
information that is important to investors on the main page of its website at
www.anglogoldashanti.com and under the "Investors" tab on the main page. This
information is updated regularly. Investors should visit this website to obtain
important information about AngloGold Ashanti.
AngloGold Ashanti Limited
Incorporated in the Republic of South Africa Reg No: 1944/017354/06
ISIN No. ZAE000043485 - JSE share code: ANG CUSIP: 035128206 - NYSE share code: AU
Website: www.anglogoldashanti.com
