Name and Location
Tropicana joint venture (JV) gold project, Australia.

Client
The project is a JV between AngloGold Ashanti Australia (70%) and Independence Group (30%).

Project Description
The Tropicana project is located at the northern end of the Tropicana JV tenements and is centred on the opencut mining of the Tropicana, Havana and Havana South deposits.

The approved project will produce 3.45-million ounces of gold over a ten-year mine life.

The project will use conventional drill-and-blast, truck-and-excavator opencut mining methods. The 5.8-million-tonne-a-year capacity (fresh ore) process plant has been designed for water and energy efficiency, with the comminution circuit comprising two-stage crushing, high-pressure grinding rolls, ball milling and a carbon-in-leach circuit for gold recovery.

A prefeasibility study, which started in 2011 on a combined openpit and underground development, based on the potential extraction of the Havana Deeps mineralisation, was due for completion by mid-2013.

Value
Capital expenditure for the project is estimated at between A$820-million and A$845 million on a 100% basis.

Duration
Construction began in the June quarter of 2011 and first gold is expected in the September quarter of 2013.

Latest Developments
The Tropicana project has started its commissioning phase and is expected to produce first gold in the September quarter.

Commissioning is under way, the tailings storage facility is complete and the operating team has been mobilised on site.

Initial grade control results are in line with the resource model.

Key Contracts and Suppliers
Macmahon Contractors (mining contractor).

On Budget and on Time?
Tropicana was originally forecast to begin production in the December 2013 quarter, but commissioning is already under way and ramp-up will occur in the December quarter.

Contact Details for Project Information
AngloGold Ashanti Australia investor relations, Andrea Maxey, tel +61 8 9425 4603 or email sbailey@anglogoldashanti.com.
Independence Group investor relations, tel +61 8 9479 1777, fax +61 8 9479 1877 or email contact@igo.com.au.
MacMahon Contractors, tel +61 8 9232 1000 or fax +61 8 9232 1001.