ANGLOGOLD ASHANTI LIMITED: AngloGold Ashanti South Africa Operations Update

ANGLOGOLD ASHANTI LIMITED: AngloGold Ashanti South Africa Operations Update
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 
News Release 
2 November 2012 
AngloGold Ashanti South Africa Operations Update 
(Johannesburg) - AngloGold Ashanti employees at the Mponeng mine did not
proceed underground for yesterday's day shift due to an illegal sit-in by about
100 of their colleagues and today, a similar situation occurred with about 200
miners at the TauTona mine. In both cases these people, who represent less than
2% and 5% of the respective workforces, returned safely to surface after
holding talks with the mines' management. 
At Mponeng, in addition to the work interruption underground, a building where
miners' headlamps are stored and dispensed was damaged. Inspection and repair
of the damaged building will take place over the coming days, with the result
that two days of normal work activity have been lost at Mponeng and one at
TauTona. Work at both mines is expected to resume as normal at the night shift
on Sunday 4 November. 
Meanwhile, work has continued as normal at AngloGold Ashanti's remaining South
African mines: Savuka, in the West Wits region, and - in the Vaal River region
-- the Great Noligwa, Kopanang and Moab Khotsong mines, along with the Surface
Operations, which produce gold and uranium. These operations all continue the
process of ramping up to full production. 
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. Prior to this
dismissal process, approximately 35,000 people were 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. Under normal operating conditions, the Vaal River region
typically accounts for about 40% of AngloGold Ashanti's South African gold
production and all of the group's uranium production. The West Wits accounts
for the balance. 
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 18 October. 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 
Alan Fine             +27-11 637- 6383 / +27 (0) 83   
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Chris Nthite          +27 (0) 11 637 6388/+27 (0)   
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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, any plan regarding the restructuring of any of AngloGold
Ashanti's operations, AngloGold Ashanti's liquidity and capital resources and
capital expenditure and the outcome and consequence of any potential or pending
litigation or regulatory proceedings or environmental issues, are
forward-looking statements regarding AngloGold Ashanti's operations, economic
performance and financial condition. These forward-looking statements 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 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 July 17, 2012 that was filed with the
Securities and Exchange Commission on July 25, 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. 
AngloGold Ashanti posts information that is important to investors on the main
page of its website at and under the "Investors" tab
on the main page. This information is updated regularly. Investors should visit
this website to obtain important information about AngloGold Ashanti. 
-0- Nov/02/2012 10:53 GMT
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