AngloGold Ashanti and AngloGold Ashanti provide update on proposed joint venture

Gold Fields and AngloGold Ashanti (AU) agreed key terms for a proposed joint venture between Gold Fields’ Tarkwa Mine and AngloGold Ashanti’s Iduapriem Mine in Ghana. Notwithstanding engagement with the Government of Ghana since the announcement of the Proposed Joint Venture on 16 March 2023, the requisite approvals by the Government of Ghana for the Proposed Joint Venture have not yet been obtained. Gold Fields and AngloGold Ashanti have sought to secure the requisite approvals, which include approval of the Proposed Joint Venture by the Parliament of Ghana, ahead of the October 2024 Parliamentary recess before the Ghana national elections to be held in December 2024. The Parties continue to believe that a combination of the two neighbouring mines into a single managed entity is compelling. In the absence of the requisite approvals from the Government of Ghana and clear timelines for execution of an agreement, Gold Fields and AngloGold Ashanti will maintain engagement in relation to a potential asset combination while separately continuing to pursue improvements to their respective assets.