Disposal

Anglo American PLC
11 July 2002


11th July 2002


    Joint announcement by America Mineral Fields Inc. and Anglo American plc



 Restructuring of Shareholding in Kolwezi Cobalt-Copper Tailings Project in the
                          Democratic Republic of Congo

America Mineral Fields Inc. ("AMZ") and Anglo American plc ("Anglo American")
today announce that the shareholding of their joint venture company Congo
Mineral Developments Limited ("CMD"), the entity which holds their interests in
the Kolwezi cobalt-copper tailings project in the Democratic Republic of Congo
(DRC), has been restructured.

Key aspects of the transaction:


  • Anglo Base Metals (a division of Anglo American) has decided to divest its
    50% stake in CMD as part of its global strategy to restructure its base
    metal portfolio and to focus on major interests in larger scale projects.

  • AMZ and Anglo American accordingly have reached agreement for the purchase
    and sale of all of Anglo American's shareholding in CMD. The consideration
    payable by AMZ to Anglo American, totalling approximately US$3.5m,
    substantially reflects the terms of the original joint venture agreement. As
    a result of the transaction, AMZ now holds a 100% interest in CMD.

  • AMZ is focused on projects in Central Africa, and in particular in the
    DRC. For AMZ, the Kolwezi Tailings Project remains a core asset of the
    company, and consequently AMZ welcomes the opportunity that Anglo Base
    Metals' changed strategy provides to expand its participation in this
    attractive investment.

  • The terms and conditions also include a cross-licensing agreement, which
    will, inter alia, provide CMD with technical know-how to implement the
    Project.

  • CMD believes that it is well positioned to progress the Project further in
    a timely manner. No adverse consequences to the rights held by CMD are
    foreseen as a result of this transaction.


This News Release contains forward looking statements within the meaning of the
United States Private Securities Litigation Reform Act of 1995 concerning the
AMZ plans for the Kolwezi Tailings Project and the expected results of this
work. Information concerning the plans of the AMZ and the measured and inferred
reserves at the Kolwezi Tailings Project may also be deemed to be forward
looking statements, as they constitute a prediction of what would be recovered
when a project is actually mined. These forward looking statements are subject
to a variety of risks and uncertainties which could cause actual events or
results to differ materially from those reflected in the forward looking
statements, including, without limitation, risks and uncertainties involved in
the interpretation of drilling results, risks and uncertainties relating to the
geology, grade and continuity of mineral deposits, recovery rates, accidents,
equipment breakdowns, labour disputes or the inherent uncertainty of production
and cost estimates and the potential for unexpected costs and expenses and other
risks and uncertainties, including those described in the AMZ periodic filings
with the British Columbia Securities Commission, the Alberta Securities
Commission, the Ontario Securities Commission and the U.S. Securities Exchange
Commission.




ENQUIRIES

Anglo American plc

London
Nick von Schirnding - Investor Affairs                    Tel: + 44 20 7698 8540
Edward Bickham - Media Relations                          Tel: [phone]

Johannesburg
Marion Dixon - Media Relations                              Tel: [phone]

America Mineral Fields Inc.
Tim Read                                                  Tel:  [phone]

President and CEO
Archie Berens/Michael Spriggs                              Tel: [phone]

(College Hill and Associates)



Notes to Editors:

The Kolwezi Tailings Project

The Kolwezi Tailings Project comprises a tailings resource of 112.8 million
tonnes at an average grade of 1.49% copper and 0.32% cobalt ((1)). Substantial
work to progress the Project has been carried out by CMD, including proving the
reserves, successfully operating a fully integrated pilot plant and developing a
process flowsheet. When commissioned, the Kolwezi Tailings Project is expected
to be one of the world's lowest cost cobalt producers, even prior to credits
from copper production.

America Mineral Fields Inc.

America Mineral Fields Inc. ("AMZ") is a Canadian Mining Company, listed on the
Toronto Stock Exchange. Its principal focus is on the development of its mineral
assets in Central Africa, namely the Kolwezi Tailings Project and the Kipushi
zinc mine in the DRC and the Cuango River Diamond project in Angola. AMZ's major
shareholders are Jean Raymond Boulle(30%) and Umicore (11%). AMZ is also in
discussions with a number of additional financial shareholders to invest in CMD
and or AMZ and has engaged investment bank CIBC World Markets plc to assist with
this process.

(www.am-min.com)

Anglo American plc

Anglo American plc is one of the world's largest mining and natural resource
groups. With its subsidiaries, joint ventures and associates, it is a global
leader in gold, platinum group metals and diamonds, with significant interests
in coal, base and ferrous metals, industrial minerals and forest products. The
group is geographically diverse, with operations in Africa, Europe, South and
North America and Australia. (www.angloamerican.co.uk)

 1. The resource estimate was calculated by MineNet and audited by Dr. Isobel
    Clark of Geostokos Limited. Some 97% of these resources are in the measured
    category, the balance being in the indicated resource category. This
    resource has been estimated in accordance with the Canadian Institute of
    Mining and Metallurgy guidelines. Dr. Isobel Clark has also conformed these
    results to the JORC (Joint Ore Reserves Committee) reporting code, with no
    changes.


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