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Allens acts for AngloGold Ashanti in sale of US$1.1bn stake in gold mine

5 February 2009

Allens Arthur Robinson (Allens) has acted for AngloGold Ashanti Ltd, one of the world's leading gold producers, on the sale of its interest in the world class Boddington Gold Mine Project.

The deal, worth up to approximately US$1.1 billion, sees the sale of its 33.33 per cent interest to joint venture partner Newmont Mining Corporation, a leading gold producer.

The transaction will help achieve AngloGold Ashanti's strategic goals of focusing on its core, controlled asset portfolio, strengthening its balance sheet, and allowing for further investment and growth opportunities.

With advisers for both parties working across the globe, Melbourne-based Partner Igor Bogdanich was involved as the principal external legal adviser for AngloGold Ashanti in the negotiations from London. He was supported by a team in Perth and Melbourne led by Perth Partner Gerard Woods. AngloGold Ashanti's Relationship Partner, Scott Langford, also provided strategic support on the transaction.

'We were pleased to work with a long-standing client on a significant transaction in relation to a mine on which Allens has advised the client for more than 15 years,' said Mr Bogdanich.

'We were able to offer a depth of knowledge in relation to the asset, transaction execution expertise and coverage across the different timezones in which the transaction was negotiated and documented.

'This sale boosts AngloGold Ashanti's strategic position, and we were very pleased to be able to help it to achieve a deal of this size and complexity successfully, and in the time in which it was done,' Mr Bogdanich added.

Ends

For further information, please contact:

• Jane FoleyCorporate Communications Coordinator, Melbourne
  Ph: +61 3 9613 8503
  Jane.Foley@aar.com.au

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Notes for editors.

Allens Arthur Robinson has staff in 14 cities and eight countries across the Asia Pacific.