Source Pravda.Ru

AngloGold Project Expansions

As a result of expansion of several projects AngloGold Ltd plans to increase gold production to 6.5 million ounces in the next 3-4 years.

These projects will add 15 million new ounces to the life of AngloGold operations, at reduced cash costs.

In addition to these five projects the company is currently working on expanding the Cuiba operation in Brazil and had also recently completed a feasibility study on the Amapari project in Brazil.

Also six additional new projects in South Africa are now examing, most of which are extensions to existing operations.

AngloGold is on track to produce 6 million ounces of gold in 2002 and the company's successful organic growth intiatives could increase AngloGold's total proven and probable reserve by as much as 20% by year-end.

Reserve increases on South African assets could be as high as 30% when reserves are restated at the end of the calendar year.


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