Sunrise Dam, Australia - update
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| Tuesday, March 15, 2011 |
AngloGold Ashanti Ltd’s Sunrise Dam Gold Mine, situated 56 kilometres south of Laverton in Western Australia, has been impacted by unprecedented heavy rains over the past month. While open pit mining has now resumed, underground mining remains suspended for safety reasons, with the expectation that Sunrise Dam will achieve normal mining rates in the June Quarter. AngloGold Ashanti is therefore expecting that first quarter guidance of 1.04Moz will be negatively impacted by approximately 20,000 ounces with a consequential impact on unit total cash costs. The full year production guidance for the Group of 4.55Mozs to 4.75Mozs remains unchanged.
| Queries |
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Tel: |
E-mail: |
| Alan Fine (Media) |
+27 (0) 11 637 6383 / +27 (0) 83 250 0757 |
afine@anglogoldashanti.com |
| Mike Bedford (Investors) |
+27 (0) 11 637 6273 / +27 (0) 82 3748820 |
mbedford@anglogoldashanti.com |
| Stewart Bailey (Investors) |
+1 212 836 4303 / +1 646 338 4337 |
sbailey@anglogoldashanti.com.au |
| Andrea Maxey |
+61 (0) 8 9425 4603 |
amaxey@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, the resumption of production at AngloGold Ashanti's mines in Ghana, the completion of announced mergers and acquisitions transactions, AngloGold Ashanti's liquidity and capital resources, and expenditure and the outcome and consequences of any litigation proceedings or environmental issues, 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 including environmental approvals and actions, fluctuations in gold prices and exchange rates, and business and operational risk management. For a discussion of certain of these factors, refer to AngloGold Ashanti's annual report for the year ended 31 December 2009, which was distributed to shareholders on 30 March 2010. The company's annual report on Form 20-F, was filed with the Securities and Exchange Commission in the United States on April 19, 2010 and as amended on May 18, 2010. 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 & media" 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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