Anglo American South Africa (“the company”) draws attention to an announcement issued today by the Occupational Lung Disease (OLD) Working Group. The full statement can be found at: http://www.oldcollab.co.za

The OLD Working Group, representing African Rainbow Minerals, Anglo American South Africa, AngloGold Ashanti, Gold Fields, Harmony, Sibanye Stillwater and Pan African Resources, has concluded a settlement agreement with Richard Spoor Inc, Abrahams Kiewitz Inc and the Legal Resources Centre—the lawyers representing claimants in the silicosis and tuberculosis class action litigation.

Anglo American South Africa’s involvement in this matter relates to gold mines in which the company previously held interests, or to which it provided technical and administrative services. In July 2017 the company announced that it was able to estimate its share of the costs of the proposed settlement. The amount provided for at the time was $101 million and that still applies in light of today’s settlement.

Norman Mbazima, Deputy Chairman of Anglo American South Africa, said: “We are pleased that this landmark settlement agreement has been reached. The longstanding and collaborative work of the Occupational Lung Disease (OLD) Working Group companies, and their cooperation with the claimants’ lawyers and various stakeholders from government, labour and the mining industry over the past three years, has led to this important milestone.”

As the Working Group statement indicates, the settlement is subject to certain suspensive conditions, including agreement being approved by the High Court in South Africa, in terms of the class certification judgment delivered by the South Gauteng High Court in May 2016. Once that and certain other conditions precedent are concluded, it will be possible to fully withdraw the appeal in the Supreme Court of Appeal of the Johannesburg High Court’s class certification judgment delivered in May 2016.