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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Richard Mazzarella who wrote (63370)	2/6/2001 6:32:24 AM
From: long-gone	Read Replies (1) \| Respond to of 116752

press releases Anglogold Outlines Key Strategic Objectives At Indaba 2001 Date: Tuesday, February 06, 2001 At the Investing in African Mining Conference – Indaba 2001 – in Cape Town, AngloGold’s Executive Director: Marketing, Kelvin Williams, reviewed the company’s recent performance against its early goals and outlined its strategic objectives going forward. While the last quarter of 1999 and the first three quarters of 2000 were characterised by some disappointing operational performances, predominantly at a handful of South African operations, the fourth quarter brought with it clear signs of recovery, as some of the region’s major mines – Great Noligwa, TauTona and Kopanang – improved their performance. Over the quarter, AngloGold reported profit up by 9%, production up by 2% and headline earnings by a modest, but creditable, 1%. In outlining AngloGold’s strategic objectives for the future, Williams highlighted the company’s commitment to further improving operational performance, which would require a continued focus on reducing overheads and operating costs. He also said that key amongst these objectives was the pursuit of value- enhancing growth and consolidation through joint ventures, mergers and acquisitions that deliver real shareholder value. “We will only take growth and consolidation opportunities if there are real advantages for our shareholders in the numbers. “Whatever the physical rationalisation or consolidation benefits might be, every transaction has a walk-away price – AngloGold will not pay for assets which would destroy value. “For this reason we prefer mergers which provide long-term benefits to shareholders of both companies, rather than acquisitions that trigger short-term market responses and the payment of large premiums.” ends Disclaimer Except for the historical information which may be contained herein, there maybe 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 a 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 December 31, 1998 which was filed with the Securities and Exchange Commission on March 30, 1999. anglogold.co.za