AngloGold Ashanti Limited and Randgold Resources jointly acquire a further 20% of the Kibali Gold Project increasing their interest to 90%
|Tuesday, December 22, 2009
|Further to the announcement of 31 October 2009, AngloGold Ashanti Limited (JSE: ANG) (“AngloGold Ashanti” or the “Company”) is pleased to announce the completion of the transaction whereby, together with Randgold Resources Limited (“Randgold”), it has acquired an additional 20% stake in the Kibali gold project (“Kibali”, formerly Moto gold project) for an aggregate consideration of approximately US$113.6 million from L’Office des Mines d’Or de Kilo-Moto (“OKIMO”). Consequently, following the completion of this transaction and the acquisition by AngloGold Ashanti and Randgold of joint interests in Moto Goldmines Limited as completed on 15 October 2009, AngloGold Ashanti and Randgold now own an equal share in a 90% interest in Kibali with OKIMO retaining the remaining 10% interest, thereby maintaining the continued interest of the Government of the Democratic Republic of the Congo.
Financial Advisors to AngloGold Ashanti
Legal Advisors to AngloGold Ashanti
Fasken Martineau DuMoulin LLP
Shearman & Sterling LLP
|Joanne Jones (Media)
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|Sicelo Ntuli (Investor Relations)
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|Stewart Bailey (Investor Relations)
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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.
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