Statement re Amapari
May 23 2003 - 12:09PM
UK Regulatory
AngloGold Limited
(Incorporated in the Republic of South Africa)
(Registration Number: 1944/017354/06)
ISIN Number:ZAE000043485
JSE Share Code: ANG
NYSE Ticker: AU
ANGLOGOLD TO SELL AMAPARI
AngloGold announced today that it has signed an agreement to sell its
wholly-owned Amapari Project to Minera��o Pedra Branca do Amapari, for the
total consideration of US$18.2 million. The Amapari project is located in the
State of Amap�, North Brazil. Since acquiring the property as part of the
package of assets AngloGold purchased from Minorco in 1998, the Company has
been seeking to prove up additional reserve ounces in order to get it to a size
and life was would justify the management resources needed to run it
effectively. This has not yet been achieved and the Company has received an
offer from a purchaser who can constructively turn this orebody to account.
AngloGold estimates the project to have reserves of 9.8 million tonnes at 2.29
g/t.
Commenting on the transaction, Roberto Carvalho Silva, regional head for
AngloGold South America, said: "Although it has been a difficult decision to
dispose of the property, AngloGold has realised a fair price for it and I am
pleased that the project will be completed".
Background Note for Editors:
Minera��o Pedra Branca do Amapari is wholly-owned by Eike Batista, the founder
of TVX Gold, recently acquired by Kinross Gold Corporation.
Johannesburg
23 May 2003
Except for the historical information contained herein, the matters discussed
in this news release are forward-looking statements within the meaning of
Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S.
Securities Exchange Act of 1934. For a discussion of important factors and
risks involved in AngloGold's business, refer to AngloGold's annual report on
Form 20-F for the year ended 31 December 2002 which was filed with the U.S.
Securities and Exchange Commission on 7 April 2003.
Queries:
South Africa Tel: Mobile: E-mail:
Steve Lenahan +27116376248 +27833082200 slenahan@anglogold.com
Alan Fine +27116376383 +27832500757 afine@anglogold.com
Shelagh Blackman +27116376379 +27833082471 skblackman@anglogold.com
Disclaimer
Except for the 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 a 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 2000 which was filed with the Securities and Exchange
Commission on 23 April 2001.
Queries:
www.anglogold.com
South Africa Tel: Mobile: E-mail:
Steve Lenahan +27 11 637 6248 +27 83 308 2200 slenahan@anglogold.com
Alan Fine +27 11 637 6383 +27 83 250 0757 afine@anglogold.com
Shelagh Blackman +27 11 637 6379 +27 83 308 2471 skblackman@anglogold.com
Europe & Asia
Tomasz Nadrowski
+1 917 912 4641 tnadrowski@anglogold.com
USA
Charles Carter (Toll free) 800 417 9255
+1 212 750 7999 cecarter@anglogold.com
Australia
Andrea Maxey +61 8 9425 4604 +61 438 001 393 amaxey@anglogold.com.au
Disclaimer
Except for the 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 a 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 2002 which was filed with the Securities and Exchange
Commission on 7 April 2003.
END