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Anglo American shareholders approve acquisition of controlling interest in De Beers by overwhelming majority

Anglo American announces that the resolution to approve its proposed acquisition of an incremental interest in De Beers, to take its holding from 45 per cent to up to 85 per cent, was passed by the requisite majority at a General Meeting of the Company held today.

Sir John Parker, Chairman of Anglo American, commented: "The Board of Anglo American is delighted that our shareholders have shown overwhelming support for the De Beers transaction. Consolidating control of De Beers, the world's leading diamond company, reinforces Anglo American's commitment to the diamond industry and to pursuing growth in those resource businesses where we have the opportunity to expand and capitalise on a favourable long term demand outlook."

"The transaction is expected to be accretive to underlying earnings for Anglo American in the year of acquisition, before depreciation or amortisation of fair value adjustments, and we are confident that we will be able to enhance value for our shareholders, over time, through the benefits derived from our scale and expertise, combined with the leadership of De Beers' business and its iconic brand."

Cynthia Carroll, Chief Executive of Anglo American, commented: "For more than a century, De Beers has captured the imagination of the market and consumers and remains one of the most renowned names in luxury goods and this is testament to its strong leadership. Our priority is to build on the outstanding work of the Oppenheimer family and De Beers' management to seize the opportunities of the evolving diamond market."

"Diamonds have long been a core part of Anglo American's strategy; we believe in the strong fundamentals of the diamond market, driven by demand across emerging and developed economies. Consolidating control of De Beers provides us Anglo American with a unique opportunity to further differentiate our portfolio and strengthen our exposure to late development cycle demand. We are truly excited to be leading De Beers through the next development phase in its rich history."

Electoral Reform Services acted as independent assessors and the result of the poll was as follows.

Total Voting Rights (Issued share capital excluding Treasury Shares) at meeting date: 1,323,431,496

Number of votes per share: One

Meeting type: General Meeting

Resolution: To approve the acquisition by the Company and/or its subsidiaries of the entire equity and shareholder loan interests of the CHL Holdings Limited group in De Beers SA and DB Investments SA or such proportion of such interests as the Company and/or its subsidiaries is entitled to acquire if the Government of the Republic of Botswana (acting through Debswana Investments SA, as nominee) exercises, in whole or in part, its existing pre-emption rights.

Shares For (Including Discretionary): 775,852,455 (99.94% of shares voted)

Shares Against: 477,586 (0.06% of shares voted)

Shares Withheld: 8,459,294

Shares withheld are not votes in law and have not been counted in calculating the proportion of votes for and against the resolution.

This announcement together with full details of the transaction and the resolution (as set out in the circular sent to shareholders on 2 December 2011) is available at www.angloamerican.com.

In accordance with LR 9.6.2, the Company has submitted copies of the resolution passed at the General Meeting to the National Storage Mechanism which will shortly be available for inspection at www.hemscott.com/nsm.do

The transaction remains subject to regulatory and government approvals and is expected to close in the second half of this year.

About Anglo American plc

Anglo American plc is one of the world's largest mining companies, is headquartered in the UK and listed on the London and Johannesburg stock exchanges. Anglo American's portfolio of mining businesses spans bulk commodities – iron ore and manganese, metallurgical coal and thermal coal; base metals – copper and nickel; and precious metals and minerals – in which it is a global leader in both platinum and diamonds. Anglo American is committed to the highest standards of safety and responsibility across all its businesses and geographies and to making a sustainable difference in the development of the communities around its operations. The company’s mining operations and extensive pipeline of growth projects are located in southern Africa, South America, Australia, North America and Asia. www.angloamerican.com

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