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AngloGold Ashanti Announces AngloGold Ashanti First Quarter 2012 Production Update


April 10, 2012 - Johannesburg, South Africa

On 15 February 2012 AngloGoldAshanti (NYSE: AU), at the time of its full year 2011 earnings release,guided first quarter 2012 gold production at 1.03Mozs at total cash costsof $820/oz - $835/oz at an average exchange rate of R7.40/$, BRL1.70/$,A$1.01/$, and AP4.35/$ and fuel at $110/barrel. The Company furtherpointed out that both these estimates could see downside risk in the lightof safety related stoppages which were being experienced at its SouthAfrican mines.

Safety stoppages continued to negatively impact group production from itsSouth African mines during the first quarter of 2012. In total, safetystoppages and the subsequent ramp-up associated with safely restartingultra-deep mining areas, resulted in 76,000oz of lost production in thethree months ended March 31. AngloGold Ashanti's first-quarter 2012 goldproduction was around 980,000oz, which is also likely to have aconsequential impact on unit total cash costs, partially mitigated byweaker rand exchange rates.

The balance of the group's operating regions, namely Australia, ContinentalAfrica and the Americas, met their production targets for the quarter.Notably, strong performances were delivered during the period by theCripple Creek & Victor, Geita and Siguiri mines, offsetting a weaker resultfrom Obuasi, where unplanned repairs to the base of the main shaft hamperedfirst quarter output.

"AngloGold Ashanti delivered its best ever safety performance in 2011 --with lowest ever fatality rates in South Africa and its lowest total injuryfrequency rate across its global operations. While we are disappointedwith our start to 2012, we remain committed to delivering on our Vision togo 'Beyond Zero Harm.' Our work colleagues and their families deservenothing less," Chief Executive Officer Mark Cutifani said. "In addition,we remain absolutely committed to working with our employees and governmentpartners to constructively improve safety on the country's mines.Consistent with this commitment we continue a close dialogue with themining inspectorate at a national and regional level, with a view tohelping achieve these shared objectives."

AngloGold Ashanti and its joint venture partners continue to closelymonitor the situation in Mali, following last month's military coup and theeconomic sanctions that were imposed until recently, on the landlockedcountry by the Economic Community of West African States. The company'sthree joint venture operations in Mali -- Morila, Yatela and Sadiola --operated as normal and the Company continued to meet its fiscal obligationsto the country's exchequer over this period.

In addition, AngloGold Ashanti will report a deferred tax charge resultingfrom the increase in Ghana's corporate tax rate, as applicable to AngloGoldAshanti under its Stability Agreement, from 25% to 30%. This will,however, be more than compensated for by a deferred tax credit created bythe reduction in South Africa's marginal tax rate applicable to gold miningcompanies from 43% to 34%, following the introduction of withholding tax ondividends that replaced the secondary tax on companies.


Certain statements made in this communication, 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
completion and commencement of commercial operations of certain of
AngloGold Ashanti's exploration and production projects and the completion
of announced mergers and acquisitions transactions, AngloGold Ashanti's
liquidity, capital resources and capital expenditure and the outcome and
consequences of any litigation or regulatory proceedings or environmental
issues, 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 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 and the company's 2010 annual
report on Form 20-F, which was filed with the Securities and Exchange
Commission in the United States on May 31, 2011. 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. 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.

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 www.anglogoldashanti.com 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.

Contacts
Alan Fine
(Media)
+27 (0) 11 637-6383
+27 (0) 83 250 0757
Email Contact

Stewart Bailey
(Investors)
+1 212 836 4303
+1 646 338 4337
Email Contact

MarketWire

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