ANGLOGOLD ASHANTI LIMITED - AngloGold Ashanti’s Mponeng Mine
Resumes Production
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
News Release
14 November 2012
AngloGold Ashanti's Mponeng Mine Resumes Production
(Johannesburg) - AngloGold
Ashanti is pleased to report that normal operations have resumed at
its Mponeng mine in South Africa
following successful engagement with employee and trade union
representatives over the past week.
All mining and processing at Mponeng was suspended on
November 6, after two underground
sit-ins by a group of workers and some vandalism to property led to
management concerns that safe working conditions could not be
assured. Talks between AngloGold Ashanti's South Africa regional management and
representatives of unions and associations in the intervening
period culminated in the agreement by all parties of a set of
guiding principles that will govern safe work and labour relations
at Mponeng in future. This document, signed by the local branches
of the National Union of Mineworkers, Solidarity, The United
Association of South Africa and
worker representatives of The Association of Mineworkers and
Construction Union at a public meeting on 10 November, covers a
series of issues including: the importance of safety; freedom of
association for all workers; transparency and honesty in all
interactions; respect for rule of law and rejection of
intimidation; a collective commitment to effective dispute
resolution; and acknowledgement of the sanctity of collective
bargaining. The return to work at Mponeng was based on the same
wages and working conditions applicable at the company's other
South African operations.
"This is an important set of guiding principles, drafted and
agreed between AngloGold Ashanti and a diverse group of labour
representatives," Mike O'Hare,
AngloGold Ashanti's executive vice president of South Africa, said. "These principles provide
a good foundation for a constructive relationship into the future
which is essential for all stakeholders given the long-term nature
of this business."
With the successful restart of Mponeng, all six of AngloGold
Ashanti's underground mines in South
Africa, as well as its surface operations, are now operating
and ramping up to full production. As discussed at the
third-quarter results presentation on 8 November, AngloGold Ashanti
will evaluate underground conditions in reviewing the time needed
for Mponeng's production build-up, before releasing cost and
production guidance for the fourth quarter.
About AngloGold Ashanti's South African Operations
AngloGold Ashanti's South African operations accounted for
approximately 32% of total group production during the first half
of the year. Approximately 35,000 people are employed across
AngloGold Ashanti's South African operations. This figure is
inclusive of contractors and those working on two major capital
projects under way at the Moab Khotsong and Mponeng mines.
AngloGold Ashanti is a member of the gold industry's collective
wage bargaining unit at the Chamber of Mines and as such is
committed to addressing demands regarding pay and other substantive
issues through this framework. At present, the gold industry is in
the second year of a two-year wage agreement with the latest
increases, ranging from 8% to 10%, awarded to the workforce in
July 2012, under the agreement
reached in 2011. A similar increase was awarded last year.
South Africa's annual Consumer
Price Inflation was 5% in August
2012. In addition, under the auspices of the Entry Level
Task Team established by the Chamber of Mines, major gold producers
and the recognised unions and associations during the 2011 wage
talks, additional improvements to the current pay structure were
offered to workers on October 18. A
summary of this latest offer, agreed by the members of the Chamber
of Mines, the National Union of Mineworkers, Solidarity and the
United Association of South
Africa, is contained in AngloGold Ashanti's press release
dated Friday 28 October.
SPONSOR: UBS South Africa (Pty) Limited
ENDS
Contacts
Media Tel: E-mail:
Alan Fine +27-11 637- 6383 / +27 afine@anglogoldashanti.com
(0) 83 250 0757
Chris Nthite +27 (0) 11 637 6388/+27 cnthite@anglogoldashanti.com
(0) 83 301 2481
Stewart Bailey +1 646 338 4337/ +1 212 sbailey@anglogoldashanti.com
858-7702 / +27 83 253
2021
General inquiries +27 11 637 6031 media@anglogoldashanti.com
Investors
Stewart Bailey +1 646 338 4337/ +1 212 sbailey@anglogoldashanti.com
858-7702 / +27 83 253
2021
Sabrina Brockman (US & +1
(212) 858 7702 / +1 sbrockman@anglogoldashanti.com Canada)
646 379 2555
Mike Bedford (UK & +44 779
497 7881 / +44 mbedford@anglogoldashanti.com Europe)
1225 93 8483
General inquiries +27 11 637 6059 investors@anglogoldashanti.com
Certain statements made in this communication, 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 and
other operating results, growth prospects and outlook of AngloGold
Ashanti's operations, individually or in the aggregate, including
the achievement of project milestones, the completion and
commencement 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
consequence of any potential or pending litigation or regulatory
proceedings or environmental issues, are forward-looking statements
or forecasts 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, political 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 and other factors,
refer to AngloGold Ashanti's annual report for the year ended
31 December 2011, which was
distributed to shareholders on 4 April
2012, the company's 2011 annual report on Form 20-F, which
was filed with the Securities and Exchange Commission in
the United States on 23 April 2012 and the prospectus supplement to
the company's prospectus dated 17 July
2012 that was filed with the Securities and Exchange
Commission on 25 July 2012. 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, stakeholders 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 today's date 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.
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updated regularly. Investors should visit this website to obtain
important information about AngloGold Ashanti.