Temporary suspension of operations at Iduapriem Mine
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| Acrobat Version |
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| Friday, February 19, 2010 |
Following discussions with the Environmental Protection Agency of Ghana (EPA) in relation to potentially adverse environmental impacts arising from the current tailings storage facility, operations at AngloGold Ashanti’s Iduapriem mine in Ghana have been suspended until alternative arrangements for tailings storage can be established. In conjunction with the EPA, we have identified an interim location for tailings storage and will work with the agency over the next month to make this operational.
In parallel, the mine is accelerating the development of a new tailings storage facility and a water treatment plant, which it aims to commission in the latter part of 2010 or in early 2011. Rescheduling is underway to define the production impact but it is expected that a revised plan will enable a significant portion of lost production to be recovered over the course of the year. Employees and key suppliers are being engaged to assist during the transition period.
In 2009, Iduapriem produced 190,000oz of gold, some 4% of AngloGold Ashanti’s annual global production.
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| Alan Fine (Media) |
+27 (0) 11 637 6383 |
+27 (0) 83 250 0757 |
afine@AngloGoldAshanti.com |
| Joanne Jones (Media) |
+27 (0) 11 637 6813 |
+27 (0) 82 896 0306 |
jjones@anglogoldashanti.com |
| Sicelo Ntuli (Investors) |
+27 (0) 11 637 6339 |
+27 (0) 71 608 0991 |
sntuli@anglogoldashanti.com |
| Stewart Bailey (Investors) |
+1 212 836 4303 |
+1 646 338 4337 |
sbailey@anglogoldashanti.com |
Disclaimer
Certain statements made in this communication, including, without limitation, those concerning AngloGold Ashanti’s strategy to reduce its gold hedging position including the extent and effects of the reduction, the economic outlook for the gold mining industry, expectations regarding gold prices, production, cash costs and other operating results, growth prospects and outlook of AngloGold Ashanti’s operations, individually or in the aggregate, including the completion and commencement of commercial operations of certain of AngloGold Ashanti’s exploration and production projects and completion of acquisitions and dispositions, AngloGold Ashanti’s liquidity and capital resources, and expenditure and the outcome and consequences of any pending litigation proceedings, contain certain forward-looking statements regarding AngloGold Ashanti’s operations, economic performance and financial condition. Although AngloGold Ashanti believes that the expectations reflected in such forward-looking statements 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 and market conditions, success of business and operating initiatives, changes in the regulatory environment and other government actions, fluctuations in gold prices and exchange rates, and business and operational risk management. For a discussion of such factors, refer to AngloGold Ashanti's annual report for the year ended 31 December 2008, which was distributed to shareholders on 27 March 2009 and the company’s annual report on Form 20-F, filed with the Securities and Exchange Commission in the United States on May 5, 2009 as amended on May 6, 2009. AngloGold Ashanti undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after today’s date or to reflect the occurrence of unanticipated events. 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.
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. | |
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