SOURCE: AngloGold Ashanti

August 30, 2006 11:16 ET

Anglogold Ashanti Comments on Potential Power Shortage in Ghana

JOHANNESBURG, SOUTH AFRICA -- (MARKET WIRE) -- August 30, 2006 -- AngloGold Ashanti (NYSE: AU) has been advised in Ghana by the Volta River Authority (VRA) that it is possible that the company will be required to reduce its electrical power consumption, primarily due to water shortages impacting the VRA's power generating facilities. AngloGold Ashanti, as part of the local Chamber of Mines, is meeting with the VRA to examine means of addressing potential disruptions to power supply. It is not clear at this time what the consequences of power shortages will be for the company's operations in Ghana. This will depend on the outcome of discussions with the VRA and mitigating steps that might be taken to conserve power utilization. The company will comment on potential impacts at Obuasi, Iduapriem and Bibiani once these discussions have been concluded.

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 2005, dated 17 March 2006 and which was filed with the Securities and Exchange Commission (SEC) on 20 March 2006. 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.

Contact Information

  • Queries
    Charles Carter
    Tel: +27 (0) 11 637 6385
    Mobile: +27 (0) 82 330 5373
    Email: Email Contact

    Steve Lenahan
    Tel: +27 (0) 11 637 6284
    Mobile: +27 (0) 83 308 2200
    Email: Email Contact