Johannesburg, South Africa: Anglo Gold Ashanti Limited and Thani Dubai Mining Limited have announced the formation of a strategic alliance to explore, develop and operate mines across the Middle East and parts of North Africa.

Countries of interest include Saudi Arabia, Yemen, Eritrea, Egypt, Ethiopia and Sudan. Each company will have a 50% interest in the alliance which will explore for gold, precious and base metals.

The alliance is intending to bring together a combination of regional business knowledge and relationships with global exploration and mining expertise. Thani has extensive knowledge of developing resource businesses in the Middle East and Africa, long standing and high level relationships with national governments and major industry players, a thorough understanding of risks associated with mineral resource development and the requisite technical know-how.

The alliance will be led by a board, which will comprise equal numbers from AngloGold Ashanti and Thani. Project acquisitions and exploration programmes will be equally funded by AngloGold Ashanti and Thani, up to and including the completion of the project prefeasibility study. Under the terms of the agreement AngloGold would develop, manage and operate any subsequent mining operations.

The alliance is said to have already identified opportunities in the region and an evaluation process of these opportunities is currently in progress. A technical and business development group is currently being assembled and will operate from Dubai, U.A.E. according to Anglo Gold Ashanti Limited.

Mark Cutifani, AngloGold Ashanti’s Chief Executive Officer commented: “We are very pleased to enter into this alliance with a well respected and prominent UAE based company with extensive business knowledge and relationships in the region. We believe that the complementary skills and regional expertise that this alliance brings will provide the mechanism for achieving the alliance’s strategic objectives in the region.”

The chairman of Thani Dubai Mining, Mr Abdulla Al Thani said: “We are very pleased to enter into this alliance with such a well respected mining partner.

Both parties have much to contribute to this alliance which is well placed to become one of the leading mineral resource developers in the region.”

About Thani Dubai Mining Ltd:

Thani Dubai Mining Limited is a wholly owned subsidiary of a privately held company, Thani Investments LLC, based in Dubai, United Arab Emirates. TDML is a gold exploration company currently undertaking programmes on concessions located in both Yemen and Egypt. The Medden concession, located near Al Mukalla, Yemen is currently at the prefeasibility stage. SRK Consulting (Johannesburg) recently defined Measured and Indicated Reserves of 234,000 oz Au. and an Inferred Resource of 930,000 oz Au for the project. An extensive surface and underground exploration program is underway at the Medden site to increase the Resources and Reserves. At the other concessions in Yemen and Egypt, exploration programmes consisting of surface mapping and sampling are underway to define drill targets.