At Córrego do Sítio, AngloGold Ashanti is investigating the viability of exploiting potential underground sulphide ore resources. Underground development is in progress to allow further exploration of the resources and provide access for trial mining.

Prior to the acquisition of São Bento, AngloGold anticipated that Córrego do Sítio would produce 100,000 oz/y of gold over 14 years, with production scheduled to begin in mid-2011. Acquisition of São Bento now provides the company with the potential to double the scale of the project.

Initially, Córrego do Sítio ore would be treated in the São Bento processing plant, using a refurbished and modified milling and flotation circuit, and the concentrate would be transported to AngloGold’s plant at Quieroz, Brazil. Following a planned exploration program at São Bento, an expansion of the São Bento plant may be implemented to allow processing of both Córrego do Sítio and São Bento ores, with the potential to produce more than 200,000 oz/y of gold.

AngloGold Ashanti’s Brazilian subsidiary, AngloGold Ashanti Brasil Mineração, produced 408,000 oz of attributable gold in 2007. Production derives from its wholly-owned Cuiabá mine and its 50%-owned and operated Serra Grande mine, where Kinross Gold is co-owner.