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Update on AngloGold Ashanti`s Savuka Mine
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| Acrobat Version |
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| Wednesday, June 10, 2009 |
As previously announced, a series of seismic events occurred close to the shaft infrastructure at Savuka mine on 22 May. Of Savuka’s three-shaft system, the primary and tertiary shafts have not been damaged. However, the sub-shaft barrel below 100 level has been damaged, together with shaft installations on 101 and 102 levels – which is the main infrastructure supporting Savuka’s Carbon Leader Reef production.
Operational staff are assessing the best way to rehabilitate the sub-shaft infrastructure and the degree to which select mining on the Ventersdorp Contact Reef at Savuka can continue while this work is undertaken. There will only be a low volume of production from the main shaft area for the remainder of the second quarter.
The company will clarify the impact of production losses at Savuka, together with additional losses due to other safety related stoppages experienced during the quarter, once the production quarter is closed.
Savuka produced 14,000 ounces in the first quarter of 2009 and 66,000 ounces of gold in 2008, just over 1% of AngloGold Ashanti’s production. The company will also update annual guidance with the release of the second quarter’s results on 31 July 2009.
| Queries |
| South Africa |
Tel: |
Mobile |
E-mail: |
| 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 |
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.anglgoldashanti.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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