AngloGold Ashanti to restart production

Following a meeting this morning between Eskom and industrial electricity consumers, AngloGold Ashanti has commenced the process of bringing back into production all of its underground mines and their associated gold treatment plants. It is anticipated that all mines will be back in full production by the end of next week.

These plans are based on an expectation that AngloGold Ashanti will be able to draw on 90% of its demand prior to last week’s shut-down. Indications are that it will not immediately be in a position to process surface sources in the Vaal River area due to the reduced power supply. However, the company will continue to consider means of increasing energy efficiency measures in discussions with Eskom in order to bring surface sources to account so as to return to normal production.

It is not possible at this time to estimate the operating and financial consequences of the current events

Johannesburg based AngloGold Ashanti, one of the world’s leading gold producers, has a portfolio of long-life, relatively low-cost assets with a variety of orebody types in key gold-producing regions around the world.

AngloGold Ashanti produced 5.6 million ounces of gold in 2006 of which 2.6 million ounces (45%) came from deep-level hard-rock operations in South Africa and the balance of 2.5 million ounces (45%) from shallow and surface operations, and 0.5 million ounces (10%) from underground operations around the world.

Today, AngloGold Ashanti has 21 operations located in 10 countries on four continents, together with a substantial project pipeline and a focused, global exploration programme. The company currently operates in South Africa, Argentina, Australia, Brazil, Ghana, the Republic of Guinea, Mali, Namibia, Tanzania and the United States.