Queries
South
Africa
Tel:
Mobile
E-mail:
Steve Lenahan
+27 (0) 11 637 6248
+27 (0) 83 308 2200
slenahan@AngloGoldAshanti.com
Alan Fine
+27 (0) 11 637 6383
+27 (0) 83 250 0757
afine@AngloGoldAshanti.com
Shelagh Blackman
+27 (0) 11 637 6379
+27 (0) 83 308 2471
skblackman@AngloGoldAshanti.com
Ghana
John Owusu
+233 (21) 778 168
+233 (24) 322 026
john.owusu@ashantigold.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
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.
AGA35.05
30 March 2005
ANGLOGOLD ASHANTI CHAIRMAN AND DEPUTY CHAIRMAN APPEAL TO IMF
REGARDING GOLD SALES
In their letter to shareholders in the AngloGold Ashanti Annual Report for 2004, chairman Russell
Edey and deputy chairman James Motlatsi commented on the concern that the International
Monetary Fund (IMF) might sell part of its substantial gold reserves in order to write down the debt
of heavily indebted poorer countries. This, they said, had given rise to a “degree of uncertainty” in
the gold market.
Referring to 1999 when the same scheme was proposed, they pointed out that a means was
devised to realise value from the IMF gold reserves through the revaluation of a portion of the IMF
gold holdings from their low balance sheet value of $42 per ounce to the spot price for the metal at
that time.
“This achieved the IMF purpose without impacting on either the gold market or the price and we
urge the IMF to act in a way on this occasion which will achieve its certainly worthwhile objective
without severe and negative consequences for the gold producing developing economies,” they
said.
The physical demand for gold during 2004 had showed some encouraging moves in the important
markets of Turkey and Vietnam, and sustained demand in India. In China, for the first time in
several years, sales of gold jewellery grew with the introduction to that market of modern, 18-carat
gold jewellery product.
“With these high population economies achieving growth in the high single digits, there seems
good reason for cautious optimism about future demand and pricing for all commodities including
gold,” they said.
ends