July 25th, 2002

Two Knelson XD48 batch- type concentrators (above) installed in the South Deep gravity circuit are anticipated to recover 40% of the est. 400,000 oz. gold production in 2002.

SOUTH DEEPS, Republic of South Africa - Poised to become one of the world's top gold producers, Placer Dome-Western Areas JV South Deep Mine recently commissioned their gravity circuit consisting of two batch-type Knelson XD48 concentrators.

Located just south of Johannesburg, joint venture partners Placer Dome and Western Area are now set to produce an estimated 400,000 oz. of gold from the South Deep Mine over 2002.

Gold production is expected to increase to 750,000 oz a year by 2008.

It is anticipated 40% of the gold produced will be from the two Knelsons, which are currently exceeding forecasted gravity recovery and have yet to be fully optimized.

The two units are premium duty Knelson XD models and are equipped with fully automated process control systems to provide a hands- free solution and a high degree of operational security.

The original Western Areas process plant was one of the first in South Africa to recover gold using batch-type Knelson concentrators. With the recent addition of the South Deep Knelson units, the joint venture has become the largest Knelson installation in South Africa.

The South Deep underground gold mine is the largest undeveloped gold deposit in the Rand, and has been described as one of the greatest mines of the southern hemisphere. The proven and probable mineral reserves as of December 31, 2001 contained 57.7 million ounces giving South Deep a projected mine life of 71 years.

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