Re Joint Venture

Anglo American PLC
11 April 2002


News Release
11 April 2002



               ANGLO COAL AND MITSUI ANNOUNCE JOINT VENTURE PLANS

Anglo American plc ("Anglo American") is pleased to announce plans for joint
venture arrangements between its wholly owned subsidiary, Anglo Coal Australia
Pty Ltd ("Anglo Coal Australia") and Mitsui Coal Holdings Limited ("Mitsui
Coal"), a subsidiary of Mitsui and Co. Ltd of Japan ("Mitsui") in Brisbane
today.

Total value of the combined transactions is US$310 million, with a net cash
payment of US$11 million to be made by Anglo Coal Australia to Mitsui.

The transactions include:


  • the acquisition by Anglo Coal Australia of a 51% interest in the Moura
    mine from Mitsui Coal;

  • the divestment by Anglo Coal Australia to Mitsui Coal of a 49% interest in
    the Theodore, Dawson and Taroom projects in Central Queensland, and a 30%
    interest in its German Creek mine.

Each transaction is subject to the execution of relevant legal documentation and
to regulatory approvals and is not expected to be finalised until the third
quarter of 2002.

Anglo Coal Australia will manage all the mines and projects within the joint
ventures and is planning a smooth transition for the joint ventures, including
Moura.

"The proposed Anglo Coal/Mitsui joint ventures offer wide-ranging benefits to
the local, state and national communities, as well as to the joint venture
companies," a spokesperson for Anglo Coal Australia said today. "They include
the ability of the joint venture participants to fully develop and link the
Theodore project, which lies directly to the south and adjacent to Moura," added
the spokesperson.

Mitsui currently owns 45% of Moura and has exercised its pre-emptive rights to
acquire Coal and Allied Resources Limited's (CNARL) 55% share in Moura.

The key benefits of the joint ventures for Anglo Coal Australia, which already
has a relationship with Mitsui through their joint participation in the Drayton
coalmine in the New South Wales Hunter Valley, are:


  • the marketing, infrastructure and operational synergies that Mitsui's
    ownership in Moura offers Brisbane-based Anglo Coal Australia. These will be
    vital in the development of Anglo Coal Australia's wholly owned and adjacent
    Theodore Project;

  • the development of Anglo Coal Australia's export metallurgical and thermal
    coal business in Queensland;

  • the development of Theodore in conjunction with Moura to unlock the
    potential to develop a large coal-mining complex with future sales of approx
    12 million tonnes per annum (Mtpa);

  • the creation of significant employment, business and other benefits for
    the region. Apart from opportunities associated with the construction and
    development stages, once Theodore is established and fully operational,
    approximately 280 people would be employed full time. Further jobs will be
    created through contractors and local businesses and individuals supplying
    services to Theodore;

  • the staged development, that could follow over time as rail infrastructure
    and markets are built, of the coal deposits to the south of Theodore,
    involving Dawson (5Mtpa) and Taroom (5Mtpa), over which Anglo Coal holds
    tenure.



For further information contact:

London:

Investor Relations

Nick von Schirnding     [phone]

Media Relations

Kate Aindow      [phone]

Johannesburg:

Investor Relations/Media Relations

Anne Dunn      [phone] / [phone]

Brisbane:

David Groves [phone] / [phone]

Background Notes for Editors:

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).



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