(Incorporated in the Republic of South Africa)
CORPORATE AFFAIRS DEPARTMENT
(Registration Number: 1944/017354/06)
16th Floor, 11 Diagonal Street, Johannesburg 2001, South Africa
Tel: (+27 11) 637-6385 or Fax: (+27 11) 637-6399/6400
ANGLOGOLD CONCLUDES SALE OF INTEREST IN JERRITT CANYON JOINT VENTURE
AngloGold today announced that it has concluded the transaction with Queenstake Resources U.S.A. Inc.
for the sale of its interests in the Jerritt Canyon Joint Venture. This follows the receipt by the Jerritt Canyon
joint venture partners of a second unsolicited offer from Queenstake. AngloGold owns 70% of the joint
venture and is the operator and managing partner of the Jerritt Canyon Mine.
Under the terms of the purchase and sale agreement, Queenstake paid the Jerritt Canyon Joint Venture $1.5
million in cash and 32 million shares of Queenstake common stock at closing, with $6 million in deferred
payments and approximately $4 million in future royalty payments. Queenstake accepted full closure and
reclamation liabilities and posted surety bonds totalling $33.5 million with the regulatory agencies. Permits
for the operation of the mine were transferred to Queenstake effective June 30, 2003.
For the year ended December 31, 2002, Jerritt Canyon produced 237,000 attributable ounces of gold at a
total cash cost of $249 per ounce.
Queries:
www.anglogold.com
South Africa
Alan Fine +27 11 637 6383 +27 83 250 0757 afine@anglogold.com
Shelagh Blackman +27 11 637 6379 +27 83 308 2471 skblackman@anglogold.com
Europe & Asia
Disclaimer
Except for the historical information contained herein, there are 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 31 December 2002 which was
filed with the Securities and Exchange Commission on 7 April 2003.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Name: C R Bull
Title: Company Secretary