AngloGold Ashanti Australia Limited (formerly AngloGold Australia Limited) ABN 42 008 737 424 Level 13 / 44 St Georges Tce / Perth / WA 6000 / Australia Tel: (+61 8) 9425 4600 / Fax: (+61 8) 9425 4662
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Mobile
E-mail:
Steve Lenahan
+27 (0) 11 637 6248
+27 (0) 83 308 2200
slenahan@AngloGoldAshanti.com
Michael Clements
+27 (0) 11 637 6647
+27 (0) 82 339 3890
mclements@AngloGoldAshanti.com
Shelagh Blackman
+27 (0) 11 637 6379
+27 (0) 83 308 2471
skblackman@AngloGoldAshanti.com
USA
Charles Carter
Toll Free 800 417 9255
+ 1 212 750 7999
cecarter@AngloGoldAshanti.com
Australia
Andrea Maxey
+ 61 8 9425 4604
+ 61 438 001 393
amaxey@AngloGoldAshanti.com.au
Disclaimer
Except for historical information contained herein, there are matters discussed in this news release that are forward-looking statements. Such statements are only predictions and actual events or results may differ materially. For discussion of important factors including, but not limited to development of the Company's business the economic outlook in the gold mining industry, expectations regarding gold prices and production, and other factors, which could cause actual results to differ materially from such forward-looking statements, refer to the Company's annual report on the Form 20-F for the year ended 31 December 2003 which is filed with the Securities and Exchange Commission on 19 March 2004.
Sale of Union Reefs assets
AngloGold Ashanti Australia Limited has reached agreement to sell its Union Reefs Gold Mine (URGM) assets in the Northern Territory to the Burnside Joint Venture.
The Burnside Joint Venture, comprising subsidiaries of Northern Gold NL (50%) and Harmony Gold Mining Company Ltd (50%), has agreed to pay AngloGold Ashanti total consideration of A$4 million for the assets. Settlement will occur within one month from today.
Completion is conditional only on the obtaining of all consents and approvals required by applicable laws or the requirements of the Australian Stock Exchange, including without limitation the approval of the Minister to the transfer of the Mining and Exploration tenements pursuant to the NT Mining Act..
The URGM assets include a conventional 2.8 Mtpa CIL processing plant, the URGM single persons quarters in the town of Pine Creek and mining and exploration tenements.
The Burnside Joint Venture will assume all future obligations associated with the assets including remaining site rehabilitation and reclamation.
AngloGold Ashanti completed mining at Union Reefs in the third quarter of 2003 and the treatment plant has been on care and maintenance since milling ended in October 2003.
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news release
