SA Minerals Development Bill

Anglo American PLC
25 June 2002



News Release
25 June 2002



                    South African Minerals Development Bill



There has been considerable public speculation as to the possible impact of the
proposed new Minerals and Petroleum Resources Bill.

Anglo American is examining the Bill tabled in the South African Parliament on
Tuesday, 25 June and evaluating its implications. It is too early to reach
definite conclusions, especially as the regulations accompanying the Bill, and
the proposed Mining Charter have yet to be tabled. Anglo American looks forward
to engaging constructively with Government and other stakeholders on these
issues so that the new legislation can be implemented in a way that is both
conducive to investor confidence and to fulfilling the aims of the Bill, of
which the Company is fully supportive.

In so far as the Platinum sector has distinct features and has been the subject
of particular commentary, Anglo Platinum has this afternoon put out a separate
statement (attached).







                  ANGLO AMERICAN PLATINUM CORPORATION LIMITED

                         Registration No 1946/022452/06

                                 JSE Code: AMS

                               ISIN: ZAE000013181


                                   MEDIA RELEASE

    There has been considerable press coverage of the passage of the new Mineral
    and Petroleum Resources Development Bill (the Bill) during the recent
    parliamentary debates. This coverage has given rise to much speculation as
    to what impact the Bill will have on the mining industry generally and in
    particular, its implications for the platinum industry and Anglo Platinum.

    Anglo Platinum has been consistent in its support for the fundamental,
    political, economic and social objectives of the Bill. Two major
    multi-billion rand empowerment transactions have already been completed,
    with Mvelaphanda Holdings at Northam Platinum (22,5 per cent) and with
    African Rainbow Minerals at the new Modikwa (previously Maandagshoek)
    project (50 per cent), and two further major Black Economic Empowerment
    (BEE) initiatives are currently under negotiation. Most importantly, the
    company has committed to Government that it will propose significant
    additional BEE transactions and related small and medium enterprise (SME)
    initiatives at its new projects as these are developed.

    In May of 2000, Anglo Platinum announced that based on its analysis of
    market demand, annual production capacity would be expanded from the then
    base of 2 million ounces of platinum to 3,5 million ounces by calendar 2006.
    Expressed in current money terms, escalated to completion, the capital cost
    of this expansion is estimated at over R20 billion. In pursuance of this
    programme, the Company has announced that new mines will be developed at
    Bafokeng Rasimone, Styldrift, Modikwa, Pandora, Waterval and Twickenham, the
    building of a new smelter at Polokwane (formerly Pietersburg) and the
    expansion of its base and precious metal refining activities in Rustenburg.
    Additional substantial capital projects to maintain baseline production are
    planned and will be announced if board approval and the requisite Government
    approvals are obtained.

    These projects will provide over 13,000 new jobs directly as well as
    innumerable opportunities in surrounding communities for procurement and SME
    activities.

    Pursuant to the R20 billion expansion programme, and in terms of a December
    2000 agreement with Government securing the company's mineral resources
    within the eastern limb of the Bushveld Complex, and in compliance with
    existing legislation, the company made application to the Department of
    Mineral and Energy Affairs for mining authorisations covering existing
    operations, extensions thereto and in respect of undeveloped areas where the
    new mines are to be established.

    Regrettably, despite frequent and ongoing efforts to progress these
    applications, inordinate delays have been experienced in their processing by
    the Department. In the event that the granting of these applications is
    delayed beyond the effective date on which the Bill becomes law, the
    Company's position regarding these mineral rights, including those to be
    developed for the expansion programme, may be adversely prejudiced by the
    implementation of certain of the provisions of the Bill. Accordingly, though
    the Company continues to engage the Department in an attempt to resolve
    these difficulties in a constructive manner, it had no choice but to
    institute legal action against the Department of Minerals and Energy to
    enforce the timeous processing of its applications.



    In this respect, it was reassuring that at a meeting over the past weekend
    attended by senior Government Ministers, they confirmed that Government had
    no wish to see mining industry projects interrupted or delayed in any way
    that could result in the creation of uncertainty for investments in the
    mining industry.

    Through the previously described transactions, implementation of major
    expansions and its social upliftment programmes, Anglo Platinum has
    demonstrated its commitment to Government objectives, including the 'use it
    or lose it' Mineral Rights policy and is making a substantial contribution
    to the development of the country's natural resources and economy for the
    benefit of all stakeholders. It fully intends to continue playing this role
    and looks forward to working with Government in the development, together
    with the rest of the industry, of the Mining Charter and in the
    implementation of the new Bill in a way that builds investor confidence and
    achieves the Bill's objectives.

    For further information, please contact



    Mike Mtakati

    Tel: [phone]

    Mob: [phone]

    Johannesburg

    25 June 2002




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