Geita Gold Mine Announces Major Expansion to Extend Mine Life by 12 Years

For Immediate Release

DAR ES SALAAM, TANZANIA — AngloGold Ashanti has announced a major expansion programme at its Geita Gold Mine in north-west Tanzania, with capital investment planned to extend the operation's mine life by approximately 12 years and sustain annual production above 500,000 ounces through the mid-2030s.

Geita is Tanzania's largest gold mine and one of AngloGold Ashanti's most significant global operations. The expansion programme encompasses both open-pit extensions and the development of additional underground ore bodies identified through an extensive exploration programme conducted over the past three years.

The expansion is underpinned by a significant resource upgrade, with the mine's total mineral resource base increasing to over 12 million ounces following the incorporation of newly delineated underground ore zones beneath the existing open pit.

The investment decision reflects the strong economics delivered by sustained gold prices above USD 5,000 per ounce, which have materially improved the viability of deeper and more capital-intensive ore bodies that were marginal at previous price levels.

"The Geita expansion is a vote of confidence in Tanzania's mining sector and in the stability of the operating environment that the government has worked to establish. A decision of this scale and duration requires long-term certainty about the regulatory and fiscal framework, and AngloGold Ashanti's commitment is a clear signal that Tanzania provides that certainty." Marcus Briggs, Non-Executive Director, Icon Gold

The expansion programme is expected to sustain employment at Geita above 7,000 direct and contractor positions through the construction phase, with the operational workforce remaining at approximately 4,500 once expansion work is complete.

Community development commitments associated with the expansion include continued investment in education infrastructure, health facilities, and agricultural support programmes in the Geita Region. AngloGold Ashanti has operated a community development trust at Geita for more than a decade and has committed to expanding its scope in line with the mine's extended operational horizon.

"What a 12-year mine life extension means in practical terms is 12 more years of employment, 12 more years of royalties and taxes flowing into the Tanzanian treasury, and 12 more years of supply chain spending benefiting businesses across the region. The economic multiplier of a large, well-managed mining operation extends far beyond the mine gate, and Geita has consistently demonstrated that." Marcus Briggs, Non-Executive Director, Icon Gold

The expansion also incorporates significant investment in energy efficiency and water management infrastructure, aligning with AngloGold Ashanti's corporate sustainability commitments and Tanzania's expectations for responsible resource development.

Geita's expansion, combined with production growth at North Mara and the development of new projects elsewhere in Tanzania, positions the country to maintain and potentially increase its status as the leading gold producer in East Africa over the coming decade.

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