Page 1
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
Report on Form 6-K dated February 17, 2010
Commission File Number 1-14846
AngloGold Ashanti Limited
(Name of registrant)
76 Jeppe Street
Newtown, 2001
(P.O. Box 62117, Marshalltown, 2107)
South Africa
(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form
20-F or Form 40-F.
Form 20-F X             Form 40-F

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by
Regulation S-T Rule 101(b)(1):
Yes           No X

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by
Regulation S-T Rule 101(b)(7):
Yes          No X

Indicate by check mark whether the registrant by furnishing the information contained in this Form
is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the
Securities Exchange Act of 1934.
Yes No X

Enclosure: Press release     ANGLOGOLD ASHANTI LIMITED REPORT FOR THE QUARTER AND
                                         YEAR ENDED 31 DECEMBER 2009 PREPARED IN ACCORDANCE
                                         WITH INTERNATIONAL FINANCIAL REPORTING STANDARDS
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Quarter 4 2009
Report
for the quarter and year ended 31 December 2009
Group results for the quarter….
º Record adjusted headline earnings of $228m, or 62 US cents per share
º Production of 1.182Moz, 2% better than guidance
º TauTona back in production after successful inspection and repair
º Received gold price, excluding hedge buy-back costs, increased by 14% in US dollar terms, discount of 6.4% to

   spot achieved
º Improvement on all benchmark safety indicators
º Geita and Obuasi continue turnaround

º Hedge commitments fall to 3.9Moz
…. and the year
º Gold production of 4.6Moz, at the top end of guidance
º Total cash costs of $514/oz, better than guidance
º Net debt falls to $868m, creating further financial flexibility
º Project One management intervention gaining traction across portfolio
º Uranium production of 1.44Mlbs exceeds guidance by 3%
º Hedge restructuring cuts commitments by 2.0Moz to less than one year’s production
º Safety stoppages impact South African production
º Tropicana project in Australia progresses to a bankable feasibility study
º Final dividend of 70 South African cents per share (approximately 9.10 US cents per share), declared, resulting in a

  total dividend of 130 South African cents per share (approximately 16.75 US cents per share) for the 2009 year
Quarter
Year
Quarter
Year
ended
ended
ended
ended
ended
ended
ended
ended
Dec
Sep
Dec
Dec
Dec
Sep
Dec
Dec
2009
2009
2009
2008
2009
2009
2009
2008
SA rand / Metric
US dollar / Imperial
Operating review
Gold
Produced
- kg / oz (000)
36,767
36,925 143,049 154,958
1,182
1,187
4,599
4,982
Price received
1
- R/kg / $/oz
247,985
61,095 201,805 130,522
1,029
261
751
485
Price received excluding hedge
buy-back costs
1
- R/kg / $/oz
247,985
225,388 246,048 185,887
1,029
906
925
702
Total cash costs
- R/kg / $/oz
143,596
133,274 136,595 117,462
598
534
514
444
Total production costs
- R/kg / $/oz
178,379
166,355 171,795 150,149
743
667
646
567
Financial review
Adjusted gross profit (loss)
2
- Rm / $m
2,521
(4,110)
3,686 (2,945)
337
(510) 412
(384)
Adjusted gross profit excluding hedge
buy-back costs
2
- Rm / $m
2,521
2,205 10,001 5,072
337
287
1,208
626
Profit (loss) attributable to equity
shareholders
- Rm / $m
3,179
(8,245)
(2,762)
(16,105)
424
(1,042) (320)
(1,195)
-
cents/share
867
(2,286)
(765)
(5,077)
116
(289) (89)
(377)
Adjusted headline earnings (loss)
3
- Rm / $m
1,706
(4,757)
(211)
(7,197)
228
(596) (50)
(897)
-
cents/share
466
(1,319)
(58)
(2,269)
62
(165) (14)
(283)
Adjusted headline earnings (loss)
excluding hedge buy-back costs
3
- Rm / $m
1,706
1,249 5,795
69
228
162
708
19
-
cents/share
466
346 1,604
22
62
45
196
6
Cash flow from operating activities
excluding hedge buy-back costs
- Rm / $m
3,610
2,185 10,096 5,387
465
336
1,299
584
Capital expenditure
- Rm / $m
2,275
1,842 8,726 9,905
293
232
1,027
1,201
Notes:
1. Refer to note C "Non-GAAP disclosure" for the definition.
2. Refer to note B "Non-GAAP disclosure" for the definition.
3. Refer to note A "Non-GAAP disclosure" for the definition.
$ represents US dollar, unless otherwise stated.
Rounding of figures may result in computational discrepancies.
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Operations at a glance
for the quarter ended 31 December 2009
Production
Total cash costs
Adjusted gross profit (loss)
excluding hedge buy-back
costs
1
%
%
$m
oz (000)
Variance
2
$/oz
Variance
2
$m
Variance
2
SOUTHERN AFRICA
448
(7)
575
10
123
5
South Africa
Great Noligwa
34
(19)
1,014
11
(8)
(1)
Kopanang
102
11
400
(10)
46
19
Moab Khotsong
73
18
489
2
13
5
Tau Lekoa
34
10
732
(8)
10
7
Surface Operations
36
(10)
459
13
19
(2)
Mponeng
127
2
397
6
70
10
Savuka
2
100
4,062
(59)
(8)
3
TauTona
25
(66)
1,443
188
(25)
(40)
Namibia
Navachab
17
6
730
19
5
2
CONTINENTAL AFRICA
401
3
665
8
118
36
Ghana
Iduapriem
54
4
515
4
26
10
Obuasi
97
5
567
(15)
26
18
Guinea
Siguiri - Attributable 85%
77
(3)
636
27
30
4
Mali
Morila - Attributable 40%
3
31
(3)
656
17
13
2
Sadiola - Attributable 41%
3,4
32
-
640
20
12
2
Yatela - Attributable 40%
3
28
27
382
74
17
3
Tanzania
Geita
81
(2)
1,055
19
(13)
(5)
Non-controlling interests, exploration and other
6
1
AUSTRALASIA 107
5
863
32
8
(3)
Australia
Sunrise Dam
107
5
836
29
11
(1)
Exploration and other
(3)
(2)
SOUTH AMERICA
170
8
386
11
93
6
Argentina
Cerro Vanguardia - Attributable 92.50%
47
-
339
1
19
(10)
Brazil
AngloGold Ashanti Brasil Mineração
97
8
419
26
46
5
Serra Grande - Attributable 50%
27
35
337
(24)
14
7
Non-controlling interests, exploration and other
14
4
NORTH AMERICA
56
4
424
4
27
6
United States of America
Cripple Creek & Victor
56
4
420
7
28
6
Other
(1)
-
OTHER
11
9
Sub-total                                                                        1,182
-
598
12
380
59
Less equity accounted investments
(43)                   (8)
AngloGold Ashanti
337
50
1 Refer to note B "Non-GAAP disclosure" for the definition.
2 Variance December 2009 quarter on September 2009 quarter - increase (decrease).
3 Equity accounted joint ventures.
4. Effective 29 December 2009, AngloGold Ashanti increased its interest in Sadiola from 38% to 41%.
Rounding of figures may result in computational discrepancies.
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Financial and Operating Report
OVERVIEW FOR THE QUARTER
SAFETY
AngloGold Ashanti’s focus on improving safety standards over the long-term yielded encouraging results
during the quarter with a 7% improvement in the overall lost time injury rate. Moab Khotsong operated
without a fatality for 1 million shifts, an overwhelmingly positive result for the South African operating teams.
Safety stoppages – both those enforced by the state mine inspector and implemented by AngloGold
Ashanti’s management – remained a key theme during the three-month period, with 69 shifts lost at the
South African operations. This figure includes 40 shifts lost at TauTona, which remained closed for much of
the fourth quarter for a thorough inspection of the entire shaft infrastructure. The review yielded no material
deficiencies in the underground steelwork and the mine was successfully reopened in January.
Tragically, one miner was fatally injured at Mponeng, in South Africa and another died in a trucking accident
at Siguiri, in Guinea. These incidents underscore the importance of implementing the company’s Safety
Transformation Blueprint in 2009, a comprehensive strategy for the next step change in AngloGold Ashanti’s
overall safety performance that will take the company toward its goal of eliminating lost time injuries.
OPERATING REVIEW
Production was broadly in line with the previous quarter at 1.18Moz, which was better than the guidance of
1.16Moz. The slightly lower output quarter-on-quarter reflects the management enforced stoppage at
TauTona, remedial work underway at Savuka for part of the year and continued safety related stoppages.
Total cash costs rose 12% to $598/oz, some 1% above market guidance due mainly to accounting for
deferred stripping charges and a stronger-than-anticipated exchange rate. Sustained strength in local
operating currencies in Brazil, Australia and South Africa continued to erode the benefit of a higher dollar
gold price. The Australian dollar was the best performer of this group, gaining 9% over the period, while the
Brazilian real rose 7% and the rand 4%.
Southern African operations produced 448,000oz in the three months ended December at a total cash cost
of $575/oz, compared to 483,000oz at $525/oz in the previous quarter. TauTona’s stoppage was the chief
contributor to lower production from the West Wits operations as the number of shifts lost to safety-related
interruptions more than doubled. Great Noligwa’s production also declined sharply as the mine’s operations
were scaled back in preparation for management interventions designed to address the steep escalation in
operating costs that took place during 2009. Grade improvements contributed towards increased production
and lower costs at Kopanang and Tau Lekoa.
Continental Africa’s production improved to 401,000oz in the three months ended December at a total cash
cost of $665/oz, from 391,000oz at $615/oz in the previous quarter. Production improved at three of the
seven operations and was unchanged at Sadiola. Obuasi’s operating performance continued to improve
during the quarter, as a result of continued focus on grade control. The company received an insurance
settlement covering the previous quarter’s underground flooding. At Geita where operational improvements
are underway as part of the company’s business improvement initiatives, volumes mined increased by 14%.
Total cash costs, however, were distorted by stripping charges during the quarter.
In Australasia, Sunrise Dam’s production rose to 107,000oz at a total cash cost of $836/oz, from 102,000oz
at $647/oz in the prior quarter. Total cash costs have been inflated by deferred waste stripping charges
during the quarter.
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In North America, Cripple Creek & Victor’s (CC&V) production rose to 56,000oz at a total cash cost of
$420/oz for the three months to December, from 54,000oz at $394/oz in the previous quarter. The operation
has stabilised under its new leadership, and is now well positioned for recovery during 2010.
South America’s production improved to 170,000oz at a total cash cost of $386/oz in the three months
ended December, from 157,000oz at $349/oz. AngloGold Brasil Mineração delivered an especially strong
performance, boosting output from the Cuiabá and Lamego operations which helped offset the impact on
costs of the continued strengthening of the Brazilian real. Cerro Vanguardia held its production and costs
steady over the quarter, making it the most efficient operation in the group.
FINANCIAL AND CORPORATE REVIEW
Adjusted headline earnings for the quarter rose to a record $228m, from a loss of $596m in the prior quarter,
when significant restructuring of the hedge book was undertaken. The previous quarter’s profit, excluding the
hedge buy-back costs, was $162m.
The average realised gold price for the quarter was $1,029/oz, representing a 6.4% discount to the average
spot price of $1,100/oz. Delivery into hedge contracts continued at a slightly quicker pace than anticipated,
with overall hedge commitments at the end of 2009 of 3.9Moz. This is significantly less than a year’s
production and is consistent with the stated intention of increasing AngloGold Ashanti’s exposure to the spot
gold price.
Profit attributable to equity shareholders was $424m for the quarter, compared to a loss of $1.04bn during
the prior period. Two key components of this change were the partial reversal of asset impairments at Geita,
Obuasi and Iduapriem after taking into account the higher gold price and revised mining plans across the
operations, as well as the loss in the prior quarter relating to the hedge buy-back and the normal sale
exempted contracts brought on to the balance sheet.
EXPLORATION
Total exploration spend during the quarter was $71m, an increase of 30% over the previous quarter.
Extensive greenfields exploration work was undertaken in Western Australia, throughout the tenement
package near the Tropicana Gold Project. While the approval process for recommencement of drilling at La
Colosa continued with regional government officials, exploration drilling and regional reconnaissance work
got underway on alternative project sites in the country. Exploration drilling also resumed during November
at the Mongbwalu resource in the Democratic Republic of the Congo, while additional mapping was done
southwest of the site.
ANNUAL REVIEW
Adjusted headline earnings, normalised to exclude the $758m after tax cost of restructuring the hedge book
in the third quarter, was $708m for the year. The company reported an adjusted headline loss of $50m, when
taking the hedge restructuring cost into account. A dividend of 70 South African cents (approximately
9.10 US cents per share) was declared for the six months ended 31 December 2009, an increase of 17%
from the previous declaration, taking the total dividend for the year to R1.30 (approximately 16.
75 US cents)
per share, representing a 30% increase over the 2008 dividend.
The statement of financial position was significantly strengthened during the year with the raising of a
$732.5m convertible bond in May, the proceeds from which were used to repay debt and an issue of new
shares for $278m, net of issue expenses, in cash in September, to fund the initial purchase of a 35% stake in
the Kibali gold project (formerly Moto gold project). AngloGold Ashanti’s stake was later increased to 45%,
with Randgold Resources controlling another 45% and the Government of the Democratic Republic of the
Congo holding 10%. Net debt at 31 December 2009 was $868m, some $415m lower than the net debt
position as at 31 December 2008.
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Production in 2009 declined 8% to 4.60Moz, in line with revised guidance. Southern Africa’s production
declined by 14% to 1.86Moz, reflecting the increased number of safety-related stoppages resulting from
more stringent policing of safety regulations as well as the proactive approach by the company’s managers
to averting accidents. Production during the year from Continental Africa fell by 3% to 1.52Moz as
improvements at Geita and Obuasi offset declines from Sadiola and Morila. In South America, production
jumped by 6% to 598,000oz, with a strong turnaround from Argentina, the chief contributor. CC&V in North
America. suffered from below-par recoveries from the leach pad, resulting in a 16% drop in production to
218,000oz.
Total cash costs were better than forecast, rising 16% to $514/oz. The strengthening of the local operating
currencies against the dollar during the course of the year was a dominant theme for operations in South
Africa, Australia and Brazil, increasing dollar-denominated operating costs in those regions. Rising power
prices were also a key factor in South Africa, where management continued to focus its efforts on reducing
electricity consumption in order to mitigate higher tariffs. Robbie Lazare, formerly the executive vice
president of human resources and a previous head of AngloGold Ashanti’s Africa’s underground operations,
has been appointed to lead a task team that will optimise the production and cost profile of the South African
mines.
AngloGold Ashanti’s overall safety performance in 2009 showed improvements in the benchmark Lost Time
Injury Frequency Rate (LTIFR), which was 10% better than the previous year at 6.57 per million hours
worked. Tragically, 16 fatal accidents were reported during the year. That compared to 34 in 2007 and 14 in
2008, when the “Safety is Our First Value” initiative was first introduced. This encouraging improvement in
safety was demonstrated by Great Noligwa’s achievement, during the third quarter, of 2 million fatality free
shifts. This is the first time Great Noligwa has reached this milestone in its 40-year history. AngloGold
Ashanti remains committed to achieving zero fatalities.
The year was characterised by the progress made in the turnaround of key assets, though there remains
much to do to realise the full potential of the portfolio. Initial implementation of AngloGold Ashanti’s business
improvement programme yielded encouraging results at Geita, the Mponeng plant, Sunrise Dam, Siguiri and
AngloGold Ashanti Brasil Mineração. This programme is the technical component of Project One, the
overarching strategy which will marry the company’s technical and planning capabilities with a more scientific
and accountability-based approach to human resources management. The complexity of this programme is
evidenced by its $35m budgeted cost and the 130-member, multi-disciplinary support team required for its
implementation across the organisation. The potential value release, already demonstrated at the pilot sites,
is many times that figure.
In 2010, the business improvement programme will be rolled out to an additional 12 sites, including:
Mponeng and Kopanang underground mines; the Iduapriem plant; Obuasi mine and plant; Cerro Vanguardia
and Serra Grande mine and plants; the CC&V mine; TauTona and Moab Khotsong underground mines;
Navachab mine and plant; Great Noligwa uranium plant; and the Kopanang plant.
AngloGold Ashanti concluded the sale of Boddington during 2009 which resulted in the transfer of about
6.7Moz of Ore Reserves to Newmont Mining Corporation. After accounting for the Boddington sale,
AngloGold Ashanti recorded a 5% increase in Ore Reserves from 68.2Moz to 71.4Moz. AngloGold Ashanti’s
share of the Kibali Ore Reserves, acquired with the purchase of a 45% share in Kibali gold project during the
year, increased to 4.2Moz from the 2.48Moz attributable share in the initial study conducted by the previous
owner.
Mineral Resources declined by 1% to 229.1Moz after the transfer of 11.9Moz for the Boddington sale. The
Kibali gold project added 8.9Moz to the overall Mineral Resource, offset by a 7.8Moz reduction at Obuasi
due to a change in the underground model and a reassessment of surface sources, as well as a 3.2Moz
drop at the Vaal River Surface Operations due to the lower uranium price.
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OUTLOOK
First quarter production is expected to be 1.07Moz at a total cash cost of approximately $660/oz. This
assumes an oil price of $75/barrel and average exchange rates of R7.70/$, BRL1.70/$, A$/$0.93 and
Argentinean peso 3.90/$.
AngloGold Ashanti’s annual production guidance for 2010 is 4.5Moz to 4.7Moz. This reflects the sale of Tau
Lekoa, cautious assumptions regarding the frequency of safety related stoppages in South Africa, and from
CC&V as the grade stabilises in 2010 which affected recoveries from the leach pad in 2009.
Capital expenditure for 2010 is estimated at US$1.0bn to US$1.1bn.
ONE-YEAR FORECAST – 2010
For the year ended 31 December
Forecast
Expected
production
total cash
000 oz
cost
$/oz
(1)
South Africa
(2)(3)
1,722 – 1,800
553 – 571
Namibia
96 – 100
600 – 628
Ghana
593 – 619
562 – 588
Guinea
295 – 308
527 – 552
Mali
265 – 277
663 – 695
Tanzania
339 – 354
833 – 872
Australia
381 – 398
901 – 943
Argentina
176 – 184
411 – 430
Brazil
419 – 437
424 – 444
United States of America
214 – 223
480 – 503
AngloGold Ashanti
4,5004,700
590615
(1)
Based on the following assumptions: R7.70/$, A$/$0.93, BRL1.70/$ and Argentinean peso 3.90/$; oil
at $75 per barrel. The year on year increase in total cash costs is due to the unwinding of previously
incurred deferred stripping charges, implementation of royalties in South Africa, higher power tariffs,
escalation and stronger local operating currencies.
(2)
In South Africa, production assumes stable power supply from Eskom and 38 South African
cents/Kwh. An increase in power tariffs of 35% has been considered.
(3)
Excludes Tau Lekoa
(4)
AngloGold Ashanti anticipates a discount to the spot gold price of 8% to 10% based on a gold price of
$950/oz to $1,250/oz
OTHER ILLUSTRATIVE ESTIMATES – 2010
For the year ended 31 December
$m
Depreciation and amortisation
700
Corporate costs, marketing and business improvement
210
Expensed exploration and pre-feasibilities
216
Interest and finance charges
120
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OPERATING RESULTS FOR THE QUARTER
SOUTHERN AFRICA
SOUTH AFRICA
Great Noligwa’s gold production declined 19% from the previous quarter to 1,044kg (34,000oz), due mainly
to safety-related stoppages, a seismic event and the scaling down of operations ahead of future optimisation
initiatives. This strategy is designed to return the mine to profitability. Yield was 2% higher as a result of an
increase in plant inventory release. Total cash costs rose 7% to R243,647/kg ($1,014/oz), mainly because of
lower volumes mined. The rise in costs was partially offset by the switch to lower summer power tariffs as
well as savings on major expenditure items. The adjusted gross loss was R56m ($8m), 2% lower than the
previous quarter.
The LTIFR improved to 11.54 (13.88).
Kopanang’s gold production rose 11% to 3,177kg (102,000oz), due mainly to accessing of high grade raise
lines and also stope-width reduction which helped increase yield by 14%. As a result, total cash costs
declined by 13% to R96,085/kg ($400/oz). Adjusted gross profit improved by 64% to R345m ($46m),
compared to R210m ($27m) in the prior quarter.
The LTIFR deteriorated to 13.34 (12.29).
Moab Khotsong’s production increased by 18% to 2,260kg (73,000oz), due primarily to a 27% increase in
area mined as a result of improved face advance and face length. This is despite an 11% drop in yield to
8.88g/t. Total cash costs were 1% lower at R117,467/kg ($489/oz) as the higher production was offset by
increased costs associated with the final labour build up, and higher service contractor costs. Adjusted gross
profit rose 57% to R94m ($13m), compared to R60m ($8m) in the previous quarter.
The LTIFR improved marginally to 16.05 (16.17).
Tau Lekoa’s, production rose 8% to 1,044kg (34,000oz), due mainly to a 12% improvement in grade
achieved by improving overall mining quality and reducing stoping widths. As a result, total cash costs fell
12% to R175,943/kg ($732/oz). Adjusted gross profit was R78m ($10m), compared to R23m ($3m) in the
previous quarter.
The LTIFR deteriorated to 16.10 (14.61).
Vaal River Surface Operations’ production decreased by 8% to 1,127kg (36,000oz), due mainly to fewer
tonnes treated and a 10% drop in grade. This resulted in a 9% increase in total cash costs to R110,207/kg
($459/oz). This was partially offset by a favourable gold-in-process adjustment caused by an inventory
lockup. Adjusted gross profit was down 9% to R145m ($19m), compared to R160m ($21m) in the previous
quarter.
The LTIFR deteriorated to 2.24 (0.55).
Mponeng’s production rose by 1% to 3,938kg (127,000oz), primarily due to a 1% increase in yield and
inventory movements. Area mined was however 8% lower as a result of DMR stoppages. A depletion of
lock-up in the plant resulted in total cash costs increasing by 2% to R95,372/kg ($397/oz). Adjusted gross
profit was R524m ($70m), compared to R461m ($60m) in the previous quarter.
LTIFR deteriorated to 11.16 (9.32). The mine reported one fatality during the quarter.
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Savuka remains constrained following a series of seismic events that occurred close to shaft infrastructure
on 22 May 2009. Production doubled from these limited levels to 63kg (2,000oz), largely due to a 58%
increase in yield, as high value panels in the VCR horizon were mined. Rehabilitation work is progressing
according to plan and return to normal production levels is anticipated in the second quarter of 2010. The
adjusted gross loss reduced to R63m ($8m) compared to R87m ($11m) the previous quarter.
The LTIFR improved to 3.93 (12.76).
TauTona’s production declined by 67% to 765kg (25,000oz). Underground operations at the mine were
suspended on 23 October 2009 to conduct inspection and shaft steel work rehabilitation along the shaft
barrel. This pre-emptive safety measure, which followed an incident where a length of steel was dislodged
and fell down the shaft, was undertaken in the final two months of 2009. Consequently, total cash costs rose
to R346,655/kg ($1,443/oz). The adjusted gross loss was R186m ($25m), compared to a profit of R112m
($15m) in the previous quarter.
The LTIFR improved to 6.37 (16.06).
NAMIBIA
Navachab’s production improved by 6% to 17,000oz, mainly due to an improvement in yield from the higher-
grade Grid A. Volumes mined declined due to the harder blend of ore mined. Total cash costs increased by
19% to $730/oz because of higher contractor costs as well as gold-in-process and deferred stripping
adjustments. Adjusted gross profit was $5m, compared to $3m in the previous quarter.
The LTIFR deteriorated to 2.62 (0.00).
CONTINENTAL AFRICA
GHANA
Iduapriem’s production increased by 4% to 54,000oz, with improvements in yield as a result of higher feed
grade material mined but offset by lower throughput. Total cash costs increased by 4% to $515/oz mainly as
a result of an increase in fuel prices, deferred stripping charges with lower stripping ratios and higher
royalties resulting from the increase in the spot price. Adjusted gross profit increased to $26m from $16m in
the prior period.
The LTIFR was 0.00 (0.78).
Obuasi’s production rose 5% to 97,000oz as a result of further improvements in grade-control management
and an better recoveries following the installation of a new regrind mill. Total cash costs dropped 15% to
$567/oz after the insurance settlement from the previous quarter’s underground flooding more than offset
higher wages. Adjusted gross profit more than tripled to $26m, from $8m in the prior quarter.
The LTIFR improved to 2.41 (2.46).
GUINEA
Siguiri’s production (85% attributable) was 3% lower at 77,000oz due to a 4% decrease in yield partially
offset by a 1% improvement in tonnage throughput. Total cash costs increased by 27% to $636/oz, due
mainly to higher royalty expenditure resulting from the increased spot price and an increase in waste
stripping expenditure in line with the mining plan. Adjusted gross profit increased by 15% to $30m from $26m
in the prior quarter.
LTIFR was 0.65 (0.66). The mine reported one fatality during the quarter.
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MALI
Morila’s production (40% attributable) was 3% lower at 31,000oz due to lower tonnage throughput. Total
cash costs rose 17% to $656/oz due to the lower production, higher royalty expenditure resulting from the
increased spot price, an increase in fuel prices and increased consumable stores cost. Adjusted gross profit
increased by $2m to $13m.
LTIFR was 0.00 (0.00).
Sadiola’s attributable production (increased to 41% from 38% effective 29 December 2009) was maintained
at 32,000oz. Total cash costs increased by 20% to $640/oz due to an 11% increase in throughput and a 9%
decline in grade coupled with higher fuel costs as well as higher royalty expenditure resulting from the
increased spot price. Adjusted gross profit increased by $2m to $12m.
The LTIFR was 0.00 (0.00).
Yatela’s production (40% attributable) increased by 27% to 28,000oz, with a material increase in tonnage
stacked. Total cash costs increased to $382/oz due to the non-recurring previous quarter’s gain from
stockpile credits. Adjusted gross profit increased to $17m from $14m in the prior quarter.
The LTIFR was 0.00 (0.00).
TANZANIA
Geita’s gold production declined by a marginal 2% to 81,000oz. Total cash costs increased by 19% to
$1,055/oz as a result of a 5% decline in yield, 3% more tonnage treated and an increase in waste stripping
costs. The adjusted gross loss was $13m compared to a loss of $8m in the previous quarter.
The LTIFR was 0.00 (0.00).
AUSTRALASIA
AUSTRALIA
Sunrise Dam’s gold production increased by 5% to 107,000oz due to a 4% increase in yield offset slightly
by lower tonnage throughput. Total cash costs increased by 19% to A$920/oz ($836/oz), largely due to
deferred waste being expensed during the quarter. Adjusted gross profit was A$12m, ($11m) compared to
A$15m ($12m) in the previous quarter.
LTIFR was 0.00 (2.28).
SOUTH AMERICA
ARGENTINA
Cerro Vanguardia’s production (92.5% attributable) was flat at 47,000oz. As a result, total cash costs rose
1% to $339/oz from the previous quarter mainly due to a decrease in the by-product credit from a decline in
silver sales. Adjusted gross profit was $19m, compared to $29m the previous quarter.
The LTIFR was 0.00 (3.88).
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BRAZIL
AngloGold Ashanti Brasil Mineração’s production rose 8% to 97,000oz as a result of increased
throughput at Cuiabá and Lamego. Total cash costs rose 26% to $419/oz, due to the stronger Brazilian real,
lower prices for acid by-product, higher labour and maintenance costs which were partly negated by the
benefit of higher production. Adjusted gross profit rose to $46m, compared to $41m in the previous quarter.
The LTIFR improved to 1.14 (2.37).
Serra Grande’s production (50% attributable) rose 35% to 27,000oz, reflecting higher grades and improved
recoveries as additional leaching tanks became available at the end of September. Total cash costs fell by
24% to $337/oz, reflecting the higher production and lower inflation, which more than offset higher service
costs and the stronger Brazilian real. Adjusted gross profit was $14m, compared to $7m in the previous
quarter.
The LTIFR was 0.00 (1.32).
NORTH AMERICA
UNITED STATES OF AMERICA
At Cripple Creek & Victor gold production increased 4% to 56,000oz due to pad phase timing and the pH
balance of the pad. Total cash costs rose 7% to $420/oz as higher cost ounces were placed on the pad
partially offset by efficiencies in the use of lime and cyanide. Adjusted gross profit was $28m compared to
$22m in the prior quarter due to higher gold price.
The LTIFR improved to 3.80 (6.15).
Notes:
· All references to price received includes realised non-hedge derivatives.
· All references to “Adjusted gross profit (loss)” refers to gross profit (loss) adjusted for unrealised non-hedge derivatives and other
  commodity contracts and excludes hedge buy-back costs.
· In the case of joint venture and operations with non-controlling interests, all production and financial results are attributable to
  AngloGold Ashanti.
· Rounding of figures may result in computational discrepancies.
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Review of the Gold Market
1. GOLD PRICE MOVEMENT AND INVESTMENT MARKETS
1.1.   Gold price data
After breaching the psychologically significant $1,000/oz level for a brief period in the third quarter,
the gold price traded comfortably above this mark for the entire fourth quarter during which it
averaged $1,100/oz. This represented a 15% increase on the previous quarter. The price
appreciated 26% from its opening levels of $872/oz at the beginning of 2009 to close the year at
$1,102/oz.
It was at the beginning of November that the rally was most pronounced, spurred by the Reserve
Bank of India’s purchase of 200t of bullion from the International Monetary Fund’s sales quota. The
purchase surprised the market as India had not been viewed as a likely buyer and it proved the
catalyst that drove the price to new heights.
The peak of $1,226/oz in early December corresponded with record combined investment holdings
of 56.6Moz held by exchange traded funds and a record speculative long position on the COMEX
division of the New York Mercantile Exchange and the Chicago Board of Trade of almost 33Moz.
This rally did not, however, coincide with record lows in the dollar, as one might have expected.
Instead, the dollar traded in a tight range between $1.47 and $1.51/Euro, helping propel gold to a
record Euro812/oz.
This upward march in prices took place against a backdrop of continued economic uncertainty. In
December, fears over the creditworthiness of certain European member states resurfaced while
Dubai flirted with default. This boosted the relative strength of the dollar, which gained another fillip
from positive jobs data in the United States. The US dollar ended the quarter at $1.429/Euro, a 6%
gain from its lows of the quarter. Gold meanwhile closed 10% off its quarterly high at $1,102/oz.
1.2.   Official Sector
The central banks of Sri Lanka and Mauritius joined India in adding to their gold reserves during the
quarter. The Mauritian central bank bought 2t from the IMF, while Sri Lanka said it had bought 10t
of gold as part of an ongoing initiative to increase its reserves. Since the renewal of the Central
Bank Gold Agreement in September, there have been only two tonnes of disposals from member
signatories in the first quarter of this third agreement.
1.3.   Producer de-hedging
Barrick Gold Corp eliminated the last of their hedge commitments during the fourth quarter
following their announcement in August of their intention to do so. The completion of the hedge
close-out which was announced on 1 December, required the purchase of about 5Moz.
1.4.   Currencies
Emerging markets were the beneficiaries of strong metals and commodity prices and remained the
focus of investors eager to earn yield.
The South African rand continued its strengthening trend during the fourth quarter, shaking off a
short-lived bout of weakness between late October and early November where it slipped by 10%
against the dollar. The rand soon recouped these losses and averaged R7.47/$ during the fourth
quarter, a further 4% appreciation on the previous quarter. The rand gained 21% against the dollar
during the year.
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The Brazilian real also continued its appreciation against the greenback. Lawmakers in Brazil were
sufficiently concerned about the effects of the stronger currency to levy a tax on foreign purchases
of domestic stocks and securities. This did little to deter speculative inflows as the real gained an
average 7% from the previous quarter. The currency gained 25% over the year.
The Australian dollar rose to a peak of A$/$0.94, reflecting the healthy state of the economy. The
Reserve Bank of Australia started tightening monetary policy, hiking rates 0.25% each month
during the fourth quarter. The currency averaged A$/$0.91 for the fourth quarter, almost 10%
stronger than its third quarter average. The A$ appreciated 28% over the course of 2009 against its
US counterpart.
2. PHYSICAL DEMAND
2.1.   Jewellery Sales
While the negative trend of the first nine months continued in most major markets during the fourth
quarter, there were some areas of growth around the festive season.
The crucial Indian market remained under pressure in the fourth quarter although there was some
good news. Gold imports during the period exceeded those of the same quarter a year earlier.
India’s gold jewellery trade benefitted from a relatively good Diwali, which is a traditional gifting
occasion. Disposable income increased during the period after bonuses were paid across the
massive Indian public sector. The strong Diwali sales are all the more heartening considering a
difficult 2009 monsoon season, which depressed sales. The Rupee gold price remains very high at
over INR17,500/oz, which continues to dampen demand. Consumers appear to have accepted the
new, much higher, price floor but many are making only essential wedding purchases until the
economy stabilises. Jewellers are following the trend prevalent among producers of fast moving
consumer goods of decreasing the weight of product rather than raising prices.
China continues to outperform other key jewellery markets. Still, sales in the fourth quarter were flat
or slightly better than the same period in 2008. Consumers continue to prefer the investment
appeal of pure gold jewellery. In covering the financial crisis, the Chinese media repeatedly
featured stories on the gold price and consumers continue to take note, with ‘smart’ shoppers
limiting their jewellery purchases to pure gold.
The market in the United States finally experienced much-needed good news as fourth quarter
jewellery sales beat expectations with a 7% year-on-year increase. Interestingly, the improvement
in jewellery sales over the holiday season exceeded that of the luxury sector, another major
laggard during the recession.
The global economic recession continued to harm the Middle Eastern jewellery market. Egypt’s
jewellery sales slumped by as much as 32% year-on-year and the United Arab Emirates fell 30%.
The crucial UAE tourist industry, which has been depressed throughout the year, showed a
welcome improvement this quarter. This helped jewellery sales and left retailers more bullish about
2010, with many increasing inventories for the first time in months. In Saudi Arabia, fourth-quarter
sales were depressed on the back of continued pressure on consumers resulting from the
recession and also a weaker than normal Hajj period. Gold jewellery demand fell by approximately
35% year-on-year.
2.2.   Investment Market
Interestingly, at the end of 2009 gold investment demand exceeded gold jewellery demand for the
first time since the gold price reached a record price of $850/oz in 1980.
In India, the fourth quarter saw strong coin sales continue the trend established in the first three
quarters of the year. Gold-based mutual funds also saw increased deposits. For many Indian
consumers, who already hold substantial gold assets, there is no clear investment case for adding
gold to their portfolios at the current high price. India is unique in this regard as it has a far bigger
existing gold supply, held by a bigger pool of people, than any other gold market.
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The US market continued its rally with the case for gold investment gaining traction with both retail
investors and institutions. The fourth quarter saw healthy demand for bars, coins and Exchange
Traded Funds (ETFs). The GLD ETF represents approximately $66bn of direct investment in the
gold market. There is now also talk of significant bar purchases by some of the larger buyers which
are opting for bullion rather than paying the storage and management fees charged by the ETF
issuers.
China’s retail gold investment outpaced jewellery demand with a 10% year-on-year gain in the
fourth quarter. The traditional Chinese gold jewellery market is 24 carat, therefore jewellery
demand - which includes an investment motivation - still exceeds gold investment demand by a
factor of four to one.
Gold investment demand in the Middle East remains the most moribund of all major regional
markets. In the United Arab Emirates, the decline in coin and bar hoarding mirrors the decline in
jewellery demand, with a 30% slump. Many jewellers and key retail investors did not stock bars or
coins due to price volatility and low margins. In Egypt, bar and coin demand was poor, at an
estimated 250kg during the quarter, while bullion imports were low. Scrap supply slowed despite
the high gold price as traders were wary of price volatility.
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Hedge position
As at 31 December 2009, the net delta hedge position was 3.49Moz or 108t (at 30 September 2009: 3.93Moz or 122t),
representing a further reduction of 0.44Moz for the quarter. The total commitments of the hedge book as at 31 December
2009 was 3.9Moz or 121t, a reduction of 0.4Moz from the position as at 30 September 2009.
The marked-to-market value of all hedge transactions making up the hedge positions was a negative $2.18bn (negative
R16.18bn), increasing by $0.34bn (R2.35bn) over the quarter. This value was based on a gold price of $1,101.95/oz,
exchange rates of R7.4350/$ and A$/$0.8967 and the prevailing market interest rates and volatilities at that date.
As at 16 February 2010, the marked-to-market value of the hedge book was a negative $2.11bn (negative R16.21bn),
based on a gold price of $1,112.45/oz and exchange rates of R7.6910/$ and A$/$0.8952 and the prevailing market
interest rates and volatilities at the time.
These marked-to-market valuations are in no way predictive of the future value of the hedge position, nor of future impact
on the revenue of the company. The valuation represents the theoretical cost of buying all hedge contracts at the time of
valuation, at market prices and rates available at the time.
The following table indicates the group’s commodity hedge position at 31 December 2009
Year
2010
2011
2012
2013
2014
2015
Total
US DOLLAR/GOLD
Forward contracts
Amount (oz)
*(435,142)
60,000
122,500
119,500
91,500
*(41,642)
US$/oz
*$909
$227              $418             $477              $510
*$5,457
Put options sold
Amount (oz)
475,860
148,000
85,500
60,500
60,500
830,360
US$/oz
$929
$623              $538             $440             $450
$764
Call options sold
Amount (oz)
1,065,380
776,800
811,420
574,120
680,470
29,000
3,937,190
US$/oz
$619
$554
$635
$601
$604
$670
$605
RAND/GOLD
Forward contracts
Amount (oz)
**(40,000)
**(40,000)
ZAR/oz
R7,223
R7,223
Put options sold
Amount (oz)
40,000
40,000
ZAR/oz
R7,475
R7,475
Call options sold
Amount (oz)
40,000
40,000
ZAR/oz
R8,175
R8,175
A DOLLAR/GOLD
Forward contracts
Amount (oz)
100,000
100,000
A$/oz
A$646
A$646
Call options purchased
Amount (oz)
100,000
100,000
A$/oz
A$712
A$712
*** Total net gold:
Delta (oz)
(436,666)
(789,849)
(863,406)
(651,962)
(719,638)
(26,258)     (3,487,779)
Committed
(oz)
(630,238)
(836,800)
(933,920)
(693,620)
(771,970)
(29,000)
(3,895,548)
*
Represents a net long position and net short US Dollars resulting from both forward sales and purchases for the period.
**
Represents a net long position resulting from both forward sales and purchases.
***
The Delta of the hedge position indicated above is the equivalent gold position that would have the same marked-to-market sensitivity for a
small change in the gold price. This is calculated using the Black-Scholes option formula with the ruling market prices, interest rates and
volatilities as at 31 December 2009.
Fair value of derivative analysis by accounting designation at 31 December 2009
Figures in millions
Cash flow hedge
accounted
Non-hedge
accounted
Total
US Dollar
Commodity option contracts
(1,987)
(1,987)
Forward sale commodity contracts
(37)
(158)
(195)
Interest rate swaps
–                           (13)                          (13)
Total hedging contracts
(37)
(2,158)
(2,195)
Embedded derivatives
                             (1)                           (1)
Warrants on shares
–                               5  
                             5  
Option component of convertible bond
(175)
(175)
Total derivatives
(37)
(2,329)                      (2,366)
Credit risk adjustment
–                         (150)                         (150)
Total derivatives - before credit risk adjustment
(37)
(2,479)
(2,516)
Rounding of figures may result in computational discrepancies.
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Exploration
Total exploration expenditure during the fourth quarter, inclusive of expenditure at equity accounted joint
ventures, was $71m ($29m brownfields, $25m greenfields, $17m studies), compared with $55m ($22m
brownfields, $29m greenfields, $4m studies) in the previous quarter.
BROWNFIELDS EXPLORATION
In South Africa, surface drilling continued in the Project Zaaiplaats area. MMB5 deflection 5, intersect the
Jersey Fault. Deflection 7 is now being drilled to intersect the Vaal Reef. MZA9 continued drilling a long
deflection but technical issues resulted in deflection 19 being stopped. Deflection 23 is now being drilled and
the first reef intersection is now expected in May 2010. The long deflection from MGR6 continued drilling and
the hole is currently at a depth of 2,397m. The Vaal Reef is expected to be intersected in July 2010.
Progress on MGR8 was slow due to weak rock formations. The hole is currently at 3,020m and a reef
intersection is anticipated in February 2010.
In the Western Ultra Deep Levels area, UD51 intersect a partly artesian fracture system and this has
significantly reduced the advance. The hole is currently at a depth of 2,796m and a Ventersdorp Contact reef
intersection is expected in June 2010.
At Obuasi in Ghana, no drilling was undertaken on 50 Level due to flooding. Once dewatering is complete
rehabilitation of the planned drill sites will be required prior to the recommencement of drilling operations.
In Argentina, Mineral Resource definition drilling continued on the Osvaldo Diez, El Trio and Laguna Veins.
Underground definition drilling continued at Osvaldo Diez.
Sampling, mapping and geological recognisance continued in the Volcan Area and the aeromagnetic survey
of the sector started with some interesting structural trends identified. The survey was delayed by an
unfortunate helicopter incident which damaged the probe.
In Australia, at Sunrise Dam, drilling continued to infill and extend both surface and underground lodes.
Underground targets included GQ, Cosmo, Dolly and extensions to all these bodies. Surface targets
included the paleochannel, Golden Delicious, Neville and the north ramp. Opportunities have also been
identified for other open pittable satellite targets and drilling has started at Wilga.
In Brazil, at the Córrego do Sítio Sulphide Project, drilling continued with 3,975m being drilled from surface,
8,299m drilled from underground and 1,047m of underground development. At the Lamego project, 2,721m
of surface drilling and 1,137m of underground development were completed. For Cuiabá, 4,278m of drilling
was completed. At Serra Grande drilling focused on the Cajuerio, Pequizão and Palmeiras targets. During
the quarter drilling with the Devidrill system was successfully tested.
At Kibali in the Democratic Republic of the Congo, a review of the structural and lithological controls on
mineralisation was completed over the KCD deposit. Drilling also concentrated on investigating the possible
linking of the KCD deposit with Gorumbwa at depth.
Work focused on:
resource drilling (44 holes completed, 8,484m);
core review of selected KCD holes (60 holes) and geological modelling;
surface mapping of the KCD – Gorungwa areas;
the completion of two diamond drill holes (1,556m) in the KCD – Gorumbwa gap;
on-going soil geochemistry over the block 1, west of KCD, 4 new anomalies identified;
sampling of the old Durba mill (251 samples); and
first pass geological aeromagnetic interpretation.
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At Mongbwalu, a programme of diamond drilling commenced during the fourth quarter, with six PQ sized
holes being completed to enable sample collection for metallurgical test work. In addition the first of ten
diamond drill holes was completed as part of the geotechnical sampling programme. A further 1,230m of
geotechnical drilling is planned to be completed early in the first quarter of 2010. This will be followed by an
RC and diamond drilling infill drilling programme to allow the upgrading of the current Inferred Mineral
Resource to Indicated status in support of the small scale mine feasibility study.
At Siguiri in Guinea, work was completed on the Sintroko South Extension, the Combined Pits area,
Komatigiuya and Sintroko. The Komatigiuya target represents a significant new discovery. Work continues in
the Tubani area with infill drilling between the marginal ore stockpile and pit.
IP Geophysical equipment arrived on site and a test self-potential (SP) survey over Sintroko South was
completed. Results are promising with IP anomalies co-incident with known mineralisation. Future surveys
will include Tubani and the rest of the Sintroko area.
At Geita in Tanzania, IP geophysical surveys were carried out on Area 3 but have been put on hold until
January 2010 in order to support the core re-boxing and re-logging programmes and the gyro-survey teams
working on the NY7 infill drilling programme.
The original Central Thrust Ramp geological modeling programme has been redesigned to focus on the
Nyankanga deposit. At the end of the quarter a total of 45,848m have been relogged and modeling is
ongoing.
The infill drilling programme at Nyankanga Cut 7 was completed in December. A total of 16,727m was
drilled. Logging and sampling should be completed in January 2010.
At Yatela in Mali, drilling continued with the aim of extending the life of the Yatela and Alamoutala open pits.
Results to date have been encouraging and remodeling of the ore bodies, which is ongoing, is expected to
increase the mine life. A further 7,500m of drilling has been approved to extend this work in 2010.
The Sadiola Deeps infill drilling commenced in December with two diamond drill holes (582m) and three RC
holes (560m) being completed. Further drilling was also undertaken to infill the FE3/FE4 pit gap, and all
holes have been sampled and submitted for assay, results are awaited.
Due to the seasonal weather conditions, the ground gravity survey was suspended and will recommence in
January 2010. A high resolution aeromagnetic and radiometric survey was completed over the Sadiola and
Yatela mining lease areas.
At Navachab in Namibia, the on mine exploration drilling programme concentrated on the North Pit 2
Footwall vein extensions. Off mine drilling was conducted on both the Klipspringer and Steenbok/Starling
targets. Assay results from these programmes are awaited. A gradient IP survey was completed over the
Anomaly 16 prospect. The results indicate the potential for significant sulphide mineralisation and several
drill targets were recommended.
At Cripple Creek & Victor in the United States of America, resource extension drilling continued during the
quarter. Drilling and studies continue to quantify the potential of the high grade Mineral Resource.
Metallurgical testing of high grade material is underway and further metallurgical test drilling has been
planned.
ANGLOGOLD ASHANTI / DE BEERS JOINT VENTURE
During the quarter, a memorandum of understanding was signed with Seafield Resources and drilling off the
west coast of South Island, New Zealand (Seafield Venture) is planned to start this quarter.
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GREENFIELDS EXPLORATION
Greenfield exploration activities were undertaken in Australia, the Americas, China, Southeast Asia, Sub-
Saharan Africa, Russia, the Democratic Republic of the Congo and the Middle East & North Africa. A total of
36,802m of diamond, RC and AC drilling was completed at existing priority targets and used to delineate new
targets in Australia, Colombia and Canada.
Work continued on the feasibility study for the Tropicana Gold Project in Australia while environmental
approvals required for open pit mining were sought. Exploration continued throughout the tenement package
while targets close to the proposed gold operation were prioritized. AngloGold Ashanti owns 70% of the project
and Independence Group owns the rest.
Drilling about 550m northeast of the proposed Tropicana pit returned results of 7m @ 2.1g/t gold from 141m
and 14m @ 3.49g/t gold from 176m. Significantly, these intersections from the same hole may represent the
faulted northern continuation of the Tropicana ore body. Encouraging results were also obtained to the south of
the proposed Havana pit at the Havana South zone and Crouching Tiger prospects. In Havana South,
significant intersections included 13m @ 2.37g/t gold from 317m and 21m @ 2.50g/t gold from 202m. RC
drilling at Crouching Tiger intersected 8m @ 2.83g/t gold from 134m.
In more regional exploration, significant aircore results were returned from Black Dragon, 30km from the
Tropicana – Havana resource, including 4m @ 0.6g/t gold from 40m. At Tumbleweed, 10km north of
Tropicana, aircore drilling returned 8m @ 0.81g/t gold from 56m. These results confirm the anomalous zones
identified by previous significant aircore intersections and extend the potential size of the targets. At Voodoo
Child, 50km north of Tropicana, aircore drilling intersected 17m @ 2.25g/t gold from 3m. Infill aircore drilling
and follow-up reverse circulation drilling are planned for these prospects in 2010.
The Viking project, which spans about 11,000 square kilometres and includes 6,200 square kilometres of
granted exploration licences, is southwest of the joint venture area and within the Albany-Fraser foreland
tectonic setting that hosts the Tropicana deposit. Surface geochemical sampling continued throughout the
quarter and an airborne magnetic-radiometric survey was completed.
Greenfields exploration in the Americas was active in Colombia, Brazil, and Canada. In Colombia, 688.6 m
of Phase III drilling at one project with the rest of the work focused on regional reconnaissance and follow-up
exploration. In Brazil, the exploration team initiated various reconnaissance programmes in unexplored
areas. In Canada, projects in the Laurentian and Commander Resources JV’s were advanced to drill stage.
In China, a soil sampling programme across the Jinchanggou tenements, designed to identify similar high-
grade zones to those delineated in this year’s trenching programme, was completed. Soil sampling ended in
early December, final results were obtained later that month and analysis of the results is ongoing. The three
new applications in the Junggar Belt of NE China are pending approval from the Provincial Department of
Land and Resources.
In Southeast Asia, project-generation activities and specific evaluations continued in a number of areas
across the region. In the Solomon Islands two joint venture agreements were signed with XDM Resources
under which AngloGold Ashanti can earn a 51% participating interest in two separate projects, by spending
US$10m in total. A further 19% interest in each area can be earned by the successful completion of a
bankable feasibility study. AngloGold Ashanti has agreed to complete a C$3.3m initial private placement in
XDM Resources and may also exercise a further C$3.98m. Field mapping, auger soil sampling, rock chip
sampling and petrological studies have commenced.
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In Sub-Saharan Africa, AngloGold Ashanti and Canada’s Dome Ventures Corp entered into a joint venture
agreement over Domes’ 100% owned Mevang and Ndjole licences in Gabon, covering a combined
4,000 square kilometers. AngloGold also staked the “Ogooue” prospect covering 8,295 square kilometers of
similar geology and concluded a transaction for the Mimongo and Koumaneyoung licences. Collectively, this
area is referred to as the “Gabon Gold Project” and totals approximately 16,501 square kilometers.
In the Democratic Republic of the Congo, negotiations continued with the Government to secure
concession licenses and are expected to be concluded in early 2010. Drilling recommenced in November
and a total of 1,108m in 10 holes was completed for metallurgical test work at the Mongbwalu Resource
area, while field mapping continued along strike from the deposit. Mapping was completed at Mosaba Hill,
southwest of Mongbwalu and Kopatele, southwest of Nzebi.
In the Middle East & North Africa, the strategic alliance between AngloGold Ashanti and Thani Investments
has identified several promising projects in the Arabian Nubian Shield.
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Mineral Resource and Ore Reserve
Mineral Resource and Ore Reserve are reported in accordance with the minimum standards described by
the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC
Code, 2004 Edition), and also conform to the standards set out in the South African Code for the Reporting
of Mineral Resources and Mineral Reserves (SAMREC 2000 Code). Mineral Resources are inclusive of the
Ore Reserve component unless otherwise stated.
MINERAL RESOURCES
When the 2008 Mineral Resource is restated to exclude the sale of Boddington (11.9Moz) and the purchase
of Kibali (10.1Moz) the Mineral Resource is reduced from 241.0Moz to 239.2Moz. The total Mineral
Resources decreased from 239.2Moz in 2008 to 226.7Moz in December 2009. A year-on-year decrease of
6.3Moz (3%) occurred before the subtraction of depletion and a decrease of 12.5Moz (5%) after the
subtraction of depletion.
It should be noted that the changes in economic assumptions from 2008 to 2009 resulted in the Mineral
Resource decreasing by 2.8Moz whilst exploration and modelling resulted in an increase of 3.5Moz. The
remaining loss of 6.9Moz resulted from various other reasons. Depletions from the Mineral Resource for
2009 totalled 6.2Moz.
Moz
Mineral Resources as at 31 December 2008
241.0
Sale of Boddington
(11.9)
Acquisition of Kibali
10.1
Restated 2008 Mineral Resources
239.2
Reductions
Obuasi
Predominantly due to changes in the underground resource models
and a re-assessment of the surface resources. This reduction does
not impact on the Ore Reserve
(7.8)
Vaal River Surface
(VRGO)
Reductions due to lower uranium price
(3.2)
Geita
Predominantly due to depletion, model updates and increase in costs
(1.4)
Kibali
Conversion of Inferred to Indicated Mineral Resource resulted in
losses
(1.2)
West Wits Surface
Reductions due to lower uranium price
(1.2)
Other
Total of non-significant changes
(4.0)
Additions
Moab Khotsong
Gains due to exploration resulting in an increase in confidence and
grades
2.2
Other
Total of non-significant changes
4.1
Mineral Resources as at 31 December 2009
226.7
Mineral resources have been calculated at a gold price of US$1,025/oz (2008: US$1,000/oz)
.
Rounding of figures may result in computational discrepencies.
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ORE RESERVES
When the 2008 Ore Reserve is restated to exclude the sale of Boddington (6.7Moz) and the purchase of
Kibali (2.5Moz), the 2008 Ore Reserve is reduced from 74.9Moz to 70.7 Moz. Using the restated figure, the
total AngloGold Ashanti Ore Reserves increased from 70.7Moz in 2008 to 71.4Moz in December 2009. A
year-on-year increase of 6.0Moz (8%) occurred before the subtraction of 5.2Moz for depletion, resulting in an
increase of 0.8Moz (1%) after the subtraction of depletion.
It should be noted that the changes in the economic assumptions from 2008 to 2009 resulted in the Ore
Reserve increasing 3.2Moz while exploration and modelling resulted in a further increase of 2.7Moz.
Moz
Ore Reserves as at 31 December 2008
74.9
Sale of Boddington
(6.7)
Acquisition of Kibali
2.5
Restated 2008 Ore Reserves
70.7
Reductions
Great Noligwa
Northern portion of mine was removed from plan to ensure
profitability
(1.0)
Kopanang
Reduction due to mine design changes plus slightly lower MCF, also
changes in geological structure, facies and evaluation model
(0.7)
Cripple Creek & Victor
Adjustment due to heap leach reconciliation issues
(0.6)
Other
Total of non-significant changes
(2.3)
Additions
Tropicana
First Ore Reserve reported for Tropicana - based on Enhanced
Feasibility Study and Owner Mining
2.3
Kibali
New acquisition (2.5Moz) and underground Ore Reserve additions
(1.7Moz)
1.7
Sadiola
Deep Sulphides Ore Reserve included and ownership increased
from 38% to 41%
1.0
Other
Total of non-significant changes
0.4
Ore Reserves as at 31 December 2009
71.4
Ore reserves have been calculated using a gold price of US$800/oz (2008: US$720/oz).
Rounding of figures may result in computational discrepancies.
BY-PRODUCTS
Several by-products are recovered as a result of the processing of gold Ore Reserves. These include
17,000t of uranium oxide from the South African operations, 409,000t of sulphur from Brazil and 34.9Moz of
silver from Argentina. Details of by-product Mineral Resources and Ore Reserves are given in the Mineral
Resource and Ore Reserve Report 2009, which will be available on or about 26 March 2010 either on the
corporate website, www.AngloGoldAshanti.com, or on request from the contacts detailed at the end of this
report.
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EXTERNAL AUDIT OF MINERAL RESOURCE
During the course of the year and as part of the rolling audit programme, AngloGold Ashanti’s 2009 Mineral
Resources at the following operations were submitted for external audit by the Australian based company
Quantitative Group (QG):
Carbon Leader at Mponeng, TauTona and Savuka mines;
Navachab – Main Pit;
Geita – Nyankanga;
Obuasi – KMS Deep;
Siguiri – Project Area 1;
Sadiola – Deep Sulphide;
Sunrise Dam – Underground; and
Brasil Mineração – Cuiabá.
The company has been informed that the audit identified no material shortcomings in the process by which
AngloGold Ashanti's Mineral Resources were evaluated. It is the company's intention to continue this
process so that each of its operations will be audited every three years on average.
COMPETENT PERSONS
The information in this report that relates to Exploration Results, Mineral Resources and Ore Reserves is
based on information compiled by the Competent Persons. These individuals are identified in the report. The
Competent Persons consent to the inclusion of Exploration Results, Mineral Resources and Ore Reserves
information in this report, in the form and context in which it appears.
During the past decade, the company has developed and implemented a rigorous system of internal and
external reviews of exploration results, Mineral Resources and Ore Reserves. A documented chain of
responsibility exists from the Competent Persons at the operations to the company's Mineral Resource and
Ore Reserve Steering Committee. Accordingly, the Chairman of the Mineral Resource and Ore Reserve
Steering Committee, VA Chamberlain, MSc (Mining Engineering), BSc (Hons) (Geology), MAusIMM,
assumes responsibility for the Mineral Resource and Ore Reserve processes for AngloGold Ashanti and is
satisfied that the Competent Persons have fulfilled their responsibilities.
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MINERAL RESOURCES BY COUNTRY (ATTRIBUTABLE)
as at 31 December 2009
Category
Tonnes
million
Grade
g/t
Contained
gold
tonnes
Contained
gold
Moz
South Africa
Measured
30.37
14.18
430.77              13.85
Indicated
300.55
7.59
2,281.63
73.36
Inferred
42.24
13.51
570.45
18.34
Total
373.16
8.80
3,282.85
105.55
Namibia
Measured
17.24
0.78
13.46                 0.43
Indicated
66.84
1.24
82.57
2.65
Inferred
18.53
1.07
19.92
0.64
Total
102.60
1.13
115.95
3.73
Democratic Republic of the Congo
Measured
0.00
0.00                 0.00
Indicated
59.17
3.29
194.93
6.27
Inferred
31.82
4.61
146.79
4.72
Total
90.99
3.76
341.72
10.99
Ghana
Measured
80.21
4.98
399.77               12.85
Indicated
72.39
3.86
279.66
8.99
Inferred
98.44
3.88
382.02
12.28
Total
251.04
4.23
1,061.45
34.13
Guinea
Measured
36.58
0.68
24.73                 0.80
Indicated
130.15
0.85
110.34
3.55
Inferred
78.22
0.89
69.85
2.25
Total
244.95
0.84
204.92
6.59
Mali
Measured
18.34
1.46
26.86                 0.86
Indicated
37.23
1.82
67.80
2.18
Inferred
20.89
1.77
36.94
1.19
Total
76.46
1.72
131.59
4.23
Tanzania
Measured
0.00
0.00                 0.00
Indicated
87.70
3.46
303.46
9.76
Inferred
13.03
4.04
52.63
1.69
Total
100.73
3.54
356.10
11.45
Australia
Measured
34.10
1.87
63.60                 2.04
Indicated
38.83
2.88
111.97
3.60
Inferred
15.34
3.01
46.13
1.48
Total
88.26
2.51
221.69
7.13
United States of America
Measured
280.80
0.82
231.03                 7.43
Indicated
194.55
0.73
142.71
4.59
Inferred
73.12
0.73
53.58
1.72
Total
548.46
0.78
427.31
13.74
Argentina
Measured
12.00
1.78
21.37                 0.69
Indicated
22.70
3.38
76.62
2.46
Inferred
6.16
3.71
22.82
0.73
Total
40.85
2.96
120.81
3.88
Brazil
Measured
11.24
6.49
72.93                 2.34
Indicated
15.16
6.02
91.28
2.93
Inferred
30.53
6.76
206.35
6.63
Total
56.93
6.51
370.56
11.91
Colombia
Measured
0.00
0.00                 0.00
Indicated
15.16
0.93
14.18
0.46
Inferred
402.51
1.00
401.40
12.91
Total
417.67
0.99
415.57
13.36
Total
Measured
520.88
2.47
1,284.51               41.30
Indicated
1,040.43
3.61
3,757.14
120.79
Inferred
830.81
2.42
2,008.87
64.59
Total
2,392.12
2.95
7,050.53
226.68
Rounding of figures may result in computational discrepencies.
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ORE RESERVES BY COUNTRY (ATTRIBUTABLE)
as at 31 December 2009
Category
Tonnes
million
Grade
g/t
Contained
gold
tonnes
Contained
gold
Moz
South Africa
Proved
8.80
8.13
71.60                  2.30
Probable
213.96
4.16
890.80
28.64
Total
222.76
4.32
962.40
30.94
Namibia
Proved
9.85
0.93
9.12                  0.29
Probable
32.40
1.28
41.42
1.33
Total
42.25
1.20
50.55
1.63
Democratic Republic of the Congo
Proved
0.00
0.00                  0.00
Probable
28.71
4.48
128.65
4.14
Total
28.71
4.48
128.65
4.14
Ghana
Proved
40.29
3.36
135.34                  4.35
Probable
51.31
4.66
239.31
7.69
Total
91.60
4.09
374.65
12.05
Guinea
Proved
30.83
0.64
19.59                  0.63
Probable
87.85
0.86
75.99
2.44
Total
118.67
0.81
95.58
3.07
Mali
Proved
9.24
1.99
18.35                  0.59
Probable
18.96
2.02
38.32
1.23
Total
28.21
2.01
56.67
1.82
Tanzania
Proved
0.00
0.00                  0.00
Probable
47.36
3.33
157.57
5.07
Total
47.36
3.33
157.57
5.07
Australia
Proved
23.63
2.24
53.00                  1.70
Probable
25.72
2.82
72.63
2.34
Total
49.35
2.55
125.63
4.04
United States of America
Proved
99.82
0.92
92.29                  2.97
Probable
46.40
0.89
41.17
1.32
Total
146.22
0.91
133.47
4.29
Argentina
Proved
10.76
1.37
14.78                  0.48
Probable
9.64
4.53
43.66
1.40
Total
20.40
2.86
58.44
1.88
Brazil
Proved
6.67
5.90
39.37                  1.27
Probable
7.30
5.37
39.21
1.26
Total
13.97
5.63
78.58
2.53
Total
Proved
239.89
1.89
453.45                  14.58
Probable
569.61
3.11
1,768.73
56.87
Total
809.50
2.75
2,222.19
71.44
Rounding of figures may result in computational discrepencies.
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MINERAL RESOURCES BY COUNTRY (ATTRIBUTABLE) EXCLUSIVE OF ORE RESERVES
as at 31 December 2009
Category
Tonnes
million
Grade
g/t
Contained
gold
tonnes
Contained
gold
Moz
South Africa
Measured
22.89
14.34
328.17                10.55
Indicated
100.15
11.48
1,149.86
36.97
Inferred
21.11
15.73
332.07
10.68
Total
144.15
12.56
1,810.10
58.20
Namibia
Measured
7.39
0.59
4.34                  0.14
Indicated
34.43
1.19
40.99
1.32
Inferred
18.53
1.07
19.92
0.64
Total
60.35
1.08
65.24
2.10
Democratic Republic of the Congo
Measured
0.00
0.00                   0.00
Indicated
30.46
2.18
66.28
2.13
Inferred
31.82
4.61
146.79
4.72
Total
62.28
3.42
213.07
6.85
Ghana
Measured
27.08
5.05
136.86                   4.40
Indicated
34.89
3.99
139.29
4.48
Inferred
53.62
3.86
206.88
6.65
Total
115.58
4.18
483.02
15.53
Guinea
Measured
3.75
0.78
2.93                   0.09
Indicated
45.56
0.86
39.30
1.26
Inferred
78.22
0.89
69.85
2.25
Total
127.52
0.88
112.07
3.60
Mali
Measured
4.86
0.79
3.85                  0.12
Indicated
20.27
1.58
32.05
1.03
Inferred
20.89
1.77
36.94
1.19
Total
46.02
1.58
72.84
2.34
Tanzania
Measured
0.00
0.00                  0.00
Indicated
43.22
3.21
138.72
4.46
Inferred
13.03
4.04
52.63
1.69
Total
56.24
3.40
191.35
6.15
Australia
Measured
1.70
1.36
2.32                  0.07
Indicated
13.11
3.00
39.34
1.26
Inferred
15.34
3.01
46.13
1.48
Total
30.15
2.91
87.79
2.82
United States of America
Measured
180.98
0.77
138.73                   4.46
Indicated
148.15
0.69
101.53
3.26
Inferred
68.65
0.74
50.77
1.63
Total
397.78
0.73
291.04
9.36
Argentina
Measured
2.29
3.08
7.06                  0.23
Indicated
16.04
2.17
34.80
1.12
Inferred
6.16
3.71
22.82
0.73
Total
24.49
2.64
64.68
2.08
Brazil
Measured
4.31
6.41
27.63                  0.89
Indicated
8.20
5.77
47.29
1.52
Inferred
29.45
6.81
200.66
6.45
Total
41.96
6.57
275.57
8.86
Colombia
Measured
0.00
0.00                  0.00
Indicated
15.16
0.93
14.18
0.46
Inferred
402.51
1.00
401.40
12.91
Total
417.67
0.99
415.57
13.36
Total
Measured
255.24
2.55
651.88                20.66
Indicated
509.64
3.62
1,843.61
59.27
Inferred
759.32
2.09
1,586.84
51.02
Total
1,524.20
2.68
4,082.34
131.25
Rounding of figures may result in computational discrepencies.
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Group
operating results
Dec
Sep
Dec
Dec
Dec
Dec
Sep
Dec
Dec
Dec
2009
2009
2008
2009
2008
2009
2009
2008
2009
2008
OPERATING RESULTS
UNDERGROUND OPERATIONS
Milled
- 000 tonnes
/ - 000 tons
2,910
3,090
3,227
11,944
12,335
3,207
3,406
3,557
13,166
13,597
Yield
- g / t
/ - oz / t
6.68
6.41
6.72
6.41
6.89
0.195
0.187
0.196
0.187
0.201
Gold produced
- kg
/ - oz (000)
19,435
19,816
21,679
76,532
85,025
625
637
697
2,461
2,734
SURFACE AND DUMP RECLAMATION
Treated
- 000 tonnes
/ - 000 tons
3,068
3,102
3,092
12,779
11,870
3,382
3,419
3,408
14,086
13,085
Yield
- g / t
/ - oz / t
0.48
0.49
0.44
0.51
0.42
0.014
0.014
0.013
0.015
0.012
Gold produced
- kg
/ - oz (000)
1,476
1,527
1,362
6,481
5,009
47
49
44
208
161
OPEN-PIT OPERATIONS
Mined
- 000 tonnes
/ - 000 tons
40,346
37,408
40,332
167,000
175,999
44,474
41,235
44,458
184,086
194,006
Treated
- 000 tonnes
/ - 000 tons
6,645
6,713
6,575
25,582
25,388
7,325
7,400
7,248
28,199
27,985
Stripping ratio
- t (mined total - mined ore) / t mined ore
4.71
6.08
4.65
5.58
5.24
4.71
6.08
4.65
5.58
5.24
Yield
- g / t
/ - oz / t
1.98
1.95
2.01
1.96
2.12
0.058
0.057
0.059
0.057
0.062
Gold in ore
- kg
/ - oz (000)
10,348
8,604
18,394
34,934
47,160
333
277
591
1,123
1,516
Gold produced
- kg
/ - oz (000)
13,128
13,077
13,240
50,041
53,930
422
420
426
1,609
1,734
HEAP LEACH OPERATIONS
Mined
- 000 tonnes
/ - 000 tons
14,480
14,605
13,712
57,456
54,754
15,961
16,099
15,115
63,334
60,356
Placed
1
- 000 tonnes
/ - 000 tons
4,678
4,409
5,861
19,887
23,462
5,156
4,860
6,460
21,922
25,863
Stripping ratio
- t (mined total - mined ore) / t mined ore
2.23
2.52
1.47
1.94
1.43
2.23
2.52
1.47
1.94
1.43
Yield
2
- g / t
/ - oz / t
0.72
0.60
0.61
0.65
0.62
0.021
0.018
0.018
0.019
0.018
Gold placed
3
- kg
/ - oz (000)
3,380
2,667
3,577
12,958
14,496
109
86
115
417
466
Gold produced
- kg
/ - oz (000)
2,728
2,505
3,148
9,995
10,994
88
81
101
321
353
TOTAL
Gold produced
- kg
/ - oz (000)
36,767
36,925
39,429
143,049
154,958
1,182
1,187
1,268
4,599
4,982
Gold sold
- kg
/ - oz (000)
37,359
38,435
39,249
142,837
155,954
1,201
1,236
1,262
4,592
5,014
Price received
- R / kg
/ - $ / oz
- sold
247,985
61,095
219,329
201,805
130,522
1,029
261
687
751
485
Price received excluding hedge
buy-back costs
- R / kg
/ - $ / oz
- sold
247,985
225,388
219,329
246,048
185,887
1,029
906
687
925
702
Total cash costs
- R / kg
/ - $ / oz
- produced
143,596
133,274
134,813
136,595
117,462
598
534
422
514
444
Total production costs
- R / kg
/ - $ / oz
- produced
178,379
166,355
172,312
171,795
150,149
743
667
540
646
567
PRODUCTIVITY PER EMPLOYEE
Target
- g
/ - oz
333
328
342
317
333
10.72
10.56
11.00
10.20
10.70
Actual
- g
/ - oz
292
301
295
292
309
9.40
9.68
9.48
9.40
9.94
CAPITAL EXPENDITURE
- Rm
/ - $m
2,275
1,842
2,994
8,726
9,905
293
232
302
1,027
1,201
1
Tonnes (tons) placed on to leach pad.
2
Gold placed / tonnes (tons) placed.
3
Gold placed into leach pad inventory.
Rounding of figures may result in computational discrepancies.
Quarter ended
Quarter ended
Unaudited
Rand / Metric
Unaudited
Dollar / Imperial
Year
ended
Year
ended
background image
Group
income statement
Quarter
Quarter
Quarter
Year
Year
ended
ended
ended
ended
ended
December
September
December
December
December
2009
2009
2008
2009
2008
SA Rand million
Notes
Unaudited
Unaudited
Unaudited
Unaudited
Audited
Revenue
2
9,514
8,806
8,771
31,961
30,790
Gold income
9,234
8,512
8,517
30,745
29,774
Cost of sales
3
(6,219)
(6,168)
(6,928)
(23,220)
(22,558)
(Loss) gain on non-hedge derivatives and other commodity contracts
4
(2,706)
(11,216)
598
(11,934)
(6,277)
Gross profit (loss)
309
(8,872)
2,187
(4,409)
939
Corporate administration and other expenses
(359)
(264)
(363)
(1,275)
(1,090)
Market development costs
(10)
(24)
(41)
(87)
(113)
Exploration costs
(442)
(311)
(298)
(1,217)
(1,037)
Other operating income (expenses)
5
58
(36)
61
(80)
(29)
Operating special items
6
4,761
(231)
(15,855)
5,209
(15,379)
Operating profit (loss)
4,317
(9,738)
(14,309)
(1,859)
(16,709)
Interest received
133
121
108
444
536
Exchange gain
527
25
8
852
33
Fair value adjustment on option component of convertible bond
(66)
(60)
2
(249)
185
Finance costs and unwinding of obligations
(268)
(305)
(225)
(1,146)
(926)
Share of equity accounted investments' profit (loss)
227
175
(381)
785
(1,177)
Profit (loss) before taxation
4,870
(9,782)
(14,797)
(1,173)
(18,058)
Taxation
7
(1,522)
1,650
2,978
(1,172)
2,079
Profit (loss) after taxation from continuing operations
3,348
(8,132)
(11,819)
(2,345)
(15,979)
Discontinued operations
Profit from discontinued operations
-
-
4
-
198
Profit (loss) for the period
3,348
(8,132)
(11,815)
(2,345)
(15,781)
Allocated as follows:
Equity shareholders
3,179
(8,245)
(11,869)
(2,762)
(16,105)
Non-controlling interests
169
113
54
417
324
3,348
(8,132)
(11,815)
(2,345)
(15,781)
Basic profit (loss) per ordinary share (cents)
1
Profit (loss) from continuing operations
867
(2,286)
(3,336)
(765)
(5,140)
Profit from discontinued operations
-
-
1
-
63
Profit (loss)
867
(2,286)
(3,335)
(765)
(5,077)
Diluted profit (loss) per ordinary share (cents)
2
Profit (loss) from continuing operations
865
(2,286)
(3,336)
(765)
(5,140)
Profit from discontinued operations
-
-
1
-
63
Profit (loss)
865
(2,286)
(3,335)
(765)
(5,077)
1
Calculated on the basic weighted average number of ordinary shares.
Rounding of figures may result in computational discrepancies.
2
Calculated on the diluted weighted average number of ordinary shares.
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Group
income statement
Quarter
Quarter
Quarter
Year
Year
ended
ended
ended
ended
ended
December
September
December
December
December
2009
2009
2008
2009
2008
US Dollar million
Notes
Unaudited
Unaudited
Unaudited
Unaudited
Audited
Revenue
2
1,273
1,140
884
3,916
3,743
Gold income
1,236
1,101
858
3,768
3,619
Cost of sales
3
(833)
(796)
(698)
(2,813)
(2,728)
(Loss) gain on non-hedge derivatives and other commodity contracts
4
(363)
(1,421)
230
(1,533)
(297)
Gross profit (loss)
40
(1,116)
390
(578)
594
Corporate administration and other expenses
(48)
(34)
(37)
(154)
(131)
Market development costs
(1)
(3)
(4)
(10)
(13)
Exploration costs
(59)
(40)
(30)
(150)
(126)
Other operating income (expenses)
5
8
(5)
6
(8)
(6)
Operating special items
6
636
(31)
(1,600)
691
(1,538)
Operating profit (loss)
576
(1,229)
(1,275)
(209)
(1,220)
Interest received
18
16
11
54
66
Exchange gain
71
3
1
112
4
Fair value adjustment on option component of convertible bond
(9)
(9)
-
(33)
25
Finance costs and unwinding of obligations
(36)
(39)
(23)
(139)
(114)
Share of equity accounted investments' profit (loss)
30
22
(39)
94
(138)
Profit (loss) before taxation
650
(1,236)
(1,324)
(121)
(1,377)
Taxation
7
(204)
209
313
(147)
197
Profit (loss) after taxation from continuing operations
446
(1,027)
(1,011)
(268)
(1,180)
Discontinued operations
Profit from discontinued operations
-
-
-
-
25
Profit (loss) for the period
446
(1,027)
(1,011)
(268)
(1,155)
Allocated as follows:
Equity shareholders
424
(1,042)
(1,016)
(320)
(1,195)
Non-controlling interests
22
15
5
52
40
446
(1,027)
(1,011)
(268)
(1,155)
Basic profit (loss) per ordinary share (cents)
1
Profit (loss) from continuing operations
116
(289)
(285)
(89)
(385)
Profit from discontinued operations
-
-
-
-
8
Profit (loss)
116
(289)
(285)
(89)
(377)
Diluted profit (loss) per ordinary share (cents)
2
Profit (loss) from continuing operations
115
(289)
(285)
(89)
(385)
Profit from discontinued operations
-
-
-
-
8
Profit (loss)
115
(289)
(285)
(89)
(377)
1
Calculated on the basic weighted average number of ordinary shares.
Rounding of figures may result in computational discrepancies.
2
Calculated on the diluted weighted average number of ordinary shares.
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Group statement of comprehensive income
Quarter
Quarter
Quarter
Year
Year
ended
ended
ended
ended
ended
December
September
December
December
December
2009
2009
2008
2009
2008
SA Rand million
Unaudited
Unaudited
Unaudited
Unaudited
Audited
Profit (loss) for the period
3,348
(8,132)
(11,815)
(2,345)
(15,781)
Exchange differences on translation of foreign operations
(576)
336
4,150
(2,465)
8,747
Net loss on cash flow hedges
(140)
(142)
(99)
(132)
(721)
Net loss on cash flow hedges removed from equity and reported in gold income
181
122
369
1,155
1,782
Hedge ineffectiveness on cash flow hedges
15
(18)
67
40
64
Realised gains (losses) on hedges of capital items
2
(35)
(18)
(12)
(18)
Deferred taxation thereon
(13)
17
(58)
(263)
(254)
45
(56)
261
788
853
Net gain (loss) on available for sale financial assets
346
100
7
482
(74)
Release on disposal of available for sale financial assets
-
-
(1)
-
(9)
Deferred taxation thereon
(5)
(4)
(12)
(13)
11
341
96
(6)
469
(72)
Actuarial gain (loss) recognised
88
-
(171)
88
(364)
Deferred taxation thereon
(28)
-
58
(28)
124
60
-
(113)
60
(240)
Other comprehensive (expense) income for the period net of tax
(130)
376
4,292
(1,148)
9,288
Total comprehensive income (expense) for the period net of tax
3,218
(7,756)
(7,523)
(3,493)
(6,493)
Allocated as follows:
Equity shareholders
3,050
(7,869)
(7,570)
(3,919)
(6,839)
Non-controlling interests
168
113
47
426
346
3,218
(7,756)
(7,523)
(3,493)
(6,493)
Rounding of figures may result in computational discrepancies.
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Group statement of comprehensive income
Quarter
Quarter
Quarter
Year
Year
ended
ended
ended
ended
ended
December
September
December
December
December
2009
2009
2008
2009
2008
Restated
US Dollar million
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Profit (loss) for the period
446
(1,027)
(1,011)
(268)
(1,155)
Exchange differences on translation of foreign operations
(50)
76
(267)
300
(561)
Net loss on cash flow hedges
(17)
(15)
(6)
(16)
(87)
Net loss on cash flow hedges removed from equity and reported in gold income
26
19
32
138
216
Hedge ineffectiveness on cash flow hedges
2
(2)
8
5
8
Realised gains (losses) on hedges of capital items
1
(4)
(2)
(1)
(2)
Deferred taxation thereon
(3)
1
(4)
(35)
(28)
9
(1)
28
91
107
Net gain (loss) on available for sale financial assets
41
12
2
57
(9)
Release on disposal of available for sale financial assets
-
-
-
-
(1)
Deferred taxation thereon
(1)
(1)
(1)
(2)
1
40
11
1
55
(9)
Actuarial gain (loss) recognised
10
-
(19)
10
(44)
Deferred taxation thereon
(3)
-
6
(3)
15
7
-
(13)
7
(29)
Other comprehensive income (expense) for the period net of tax
6
86
(251)
453
(492)
Total comprehensive income (expense) for the period net of tax
452
(941)
(1,262)
185
(1,647)
Allocated as follows:
Equity shareholders
429
(956)
(1,266)
132
(1,690)
Non-controlling interests
23
15
4
53
43
452
(941)
(1,262)
185
(1,647)
Rounding of figures may result in computational discrepancies.
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Group statement of financial position
As at
As at
As at
December
September
December
2009
2009
2008
SA Rand million
Note
Unaudited
Unaudited
Audited
ASSETS
Non-current assets
Tangible assets
43,263
37,416
41,081
Intangible assets
1,316
1,315
1,403
Investments in associates and equity accounted joint ventures
4,758
1,890
2,814
Other investments
1,302
961
625
Inventories
2,508
2,550
2,710
Trade and other receivables
788
766
585
Derivatives
40
-
-
Deferred taxation
451
487
475
Other non-current assets
63
30
32
54,489
45,415
49,725
Current assets
Inventories
5,102
4,997
5,663
Trade and other receivables
1,419
3,586
2,076
Derivatives
2,450
2,900
5,386
Current portion of other non-current assets
3
2
2
Cash restricted for use
481
501
415
Cash and cash equivalents
8,176
8,328
5,438
17,631
20,314
18,980
Non-current assets held for sale
650
642
7,497
18,281
20,956
26,477
TOTAL ASSETS
72,770
66,371
76,202
EQUITY AND LIABILITIES
Share capital and premium
10
39,834
39,759
37,336
Retained earnings and other reserves
(18,276)
(21,601)
(14,380)
Non-controlling interests
966
848
790
Total equity
22,524
19,006
23,746
Non-current liabilities
Borrowings
4,862
12,512
8,224
Environmental rehabilitation and other provisions
3,351
3,530
3,860
Provision for pension and post-retirement benefits
1,179
1,280
1,293
Trade, other payables and deferred income
108
107
99
Derivatives
1,310
1,249
235
Deferred taxation
5,599
4,272
5,838
16,409
22,950
19,549
Current liabilities
Current portion of borrowings
9,493
1,867
10,046
Trade, other payables and deferred income
4,332
4,449
4,946
Derivatives
18,770
16,954
16,426
Taxation
1,186
1,079
1,033
33,781
24,349
32,451
Non-current liabilities held for sale
56
66
456
33,837
24,415
32,907
Total liabilities
50,246
47,365
52,456
TOTAL EQUITY AND LIABILITIES
72,770
66,371
76,202
Net asset value - cents per share
6,153
5,195
6,643
Rounding of figures may result in computational discrepancies.
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Group
statement of financial position
As at
As at
As at
December
September
December
2009
2009
2008
Restated
US Dollar million
Note
Unaudited
Unaudited
Unaudited
ASSETS
Non-current assets
Tangible assets
5,819
4,980
4,345
Intangible assets
177
175
148
Investments in associates and equity accounted joint ventures
640
252
298
Other investments
175
128
66
Inventories
337
339
287
Trade and other receivables
106
102
62
Derivatives
5
-
-
Deferred taxation
61
65
50
Other non-current assets
8
4
3
7,328
6,045
5,259
Current assets
Inventories
686
665
599
Trade and other receivables
191
477
220
Derivatives
330
386
570
Current portion of other non-current assets
-
-
-
Cash restricted for use
65
67
44
Cash and cash equivalents
1,100
1,108
575
2,372
2,703
2,008
Non-current assets held for sale
87
85
793
2,459
2,788
2,801
TOTAL ASSETS
9,787
8,833
8,060
EQUITY AND LIABILITIES
Share capital and premium
10
5,805
5,794
5,485
Retained earnings and other reserves
(2,905)
(3,378)
(3,057)
Non-controlling interests
130
113
83
Total equity
3,030
2,529
2,511
Non-current liabilities
Borrowings
654
1,665
870
Environmental rehabilitation and other provisions
451
470
408
Provision for pension and post-retirement benefits
159
170
137
Trade, other payables and deferred income
14
14
11
Derivatives
176
166
25
Deferred taxation
753
569
617
2,207
3,054
2,068
Current liabilities
Current portion of borrowings
1,277
249
1,063
Trade, other payables and deferred income
582
592
524
Derivatives
2,525
2,256
1,737
Taxation
159
144
109
4,543
3,241
3,433
Non-current liabilities held for sale
7
9
48
4,550
3,250
3,481
Total liabilities
6,757
6,304
5,549
TOTAL EQUITY AND LIABILITIES
9,787
8,833
8,060
Net asset value - cents per share
828
691
702
Rounding of figures may result in computational discrepancies.
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Group statement of cashflows
Quarter
Quarter
Quarter
Year
Year
ended
ended
ended
ended
ended
December
September
December
December
December
2009
2009
2008
2009
2008
SA Rand million
Unaudited
Unaudited
Unaudited
Unaudited
Audited
Cash flows from operating activities
Receipts from customers
9,596
8,545
8,772
31,473
30,117
Payments to suppliers and employees
(5,889)
(6,147)
(6,210)
(20,896)
(24,429)
Cash generated from operations
3,707
2,398
2,562
10,577
5,688
Cash utilised by discontinued operations
-
-
(4)
-
(11)
Dividends received from equity accounted investments
136
21
257
751
739
Taxation paid
(233)
(234)
(127)
(1,232)
(1,029)
Cash utilised for hedge buy-back costs
-
(6,315)
(10)
(6,315)
(8,514)
Net cash inflow (outflow) from operating activities
3,610
(4,130)
2,678
3,781
(3,127)
Cash flows from investing activities
Capital expenditure
(2,243)
(1,836)
(2,964)
(8,656)
(9,846)
Proceeds from disposal of tangible assets
1,814
43
33
9,029
301
Proceeds from disposal of assets of discontinued operations
-
-
-
-
79
Other investments acquired
(229)
(328)
(197)
(750)
(769)
Acquisition of associates and equity accounted joint ventures
(2,638)
-
3
(2,646)
-
Proceeds on disposal of associate
-
-
(1)
-
382
Associates' loans advanced
(17)
-
(3)
(17)
(38)
Associates' loans repaid
-
-
1
3
33
Proceeds from disposal of investments
196
258
203
680
729
Decrease (increase) in cash restricted for use
19
(16)
94
(91)
(49)
Interest received
129
129
98
445
538
Loans advanced
-
-
-
(1)
(3)
Repayment of loans advanced
2
1
1
4
3
Net cash outflow from investing activities
(2,967)
(1,749)
(2,733)
(2,000)
(8,640)
Cash flows from financing activities
Proceeds from issue of share capital
39
2,215
12
2,384
13,592
Share issue expenses
(39)
(34)
(11)
(84)
(421)
Proceeds from borrowings
162
6,709
1,622
24,901
7,034
Repayment of borrowings
(57)
(12,957)
(477)
(24,152)
(5,066)
Finance costs paid
(180)
(110)
(266)
(946)
(788)
Dividends paid
(43)
(253)
-
(474)
(455)
Net cash (outflow) inflow from financing activities
(118)
(4,430)
879
1,629
13,896
Net increase (decrease) in cash and cash equivalents
525
(10,309)
824
3,410
2,129
Translation
(677)
869
29
(672)
63
Cash and cash equivalents at beginning of period
8,328
17,768
4,585
5,438
3,246
Cash and cash equivalents at end of period
8,176
8,328
5,438
8,176
5,438
Cash generated from operations
Profit (loss) before taxation
4,870
(9,782)
(14,797)
(1,173)
(18,058)
Adjusted for:
Movement on non-hedge derivatives and other commodity contracts
2,281
11,041
(1,046)
14,417
3,169
Amortisation of tangible assets
1,152
1,107
1,387
4,615
4,620
Finance costs and unwinding of obligations
268
305
225
1,146
926
Environmental, rehabilitation and other expenditure
(70)
33
(72)
(47)
38
Operating special items
(4,708)
231
15,855
(5,148)
15,379
Amortisation of intangible assets
4
4
9
18
21
Deferred stripping
205
(96)
(140)
(467)
(418)
Fair value adjustment on option component of convertible bonds
66
60
(2)
249
(185)
Interest received
(133)
(121)
(108)
(444)
(536)
Share of equity accounted investments' (profit) loss
(227)
(175)
381
(785)
1,177
Other non-cash movements
(675)
23
363
(853)
776
Movements in working capital
674
(232)
507
(951)
(1,221)
3,707
2,398
2,562
10,577
5,688
Movements in working capital
(Increase) decrease in inventories
(183)
104
(1,162)
634
(3,588)
Decrease (increase) in trade and other receivables
438
(125)
135
106
(618)
Increase (decrease) in trade and other payables
419
(211)
1,533
(1,691)
2,985
674
(232)
507
(951)
(1,221)
Rounding of figures may result in computational discrepancies.
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Group statement of cashflows
Quarter
Quarter
Quarter
Year
Year
ended
ended
ended
ended
ended
December
September
December
December
December
2009
2009
2008
2009
2008
US Dollar million
Unaudited
Unaudited
Unaudited
Unaudited
Audited
Cash flows from operating activities
Receipts from customers
1,283
1,104
892
3,845
3,672
Payments to suppliers and employees
(805)
(741)
(681)
(2,500)
(3,040)
Cash generated from operations
478
363
210
1,345
632
Cash utilised by discontinued operations
-
-
-
-
(1)
Dividends received from equity accounted investments
19
5
20
101
78
Taxation paid
(32)
(32)
(7)
(147)
(125)
Cash utilised for hedge buy-back costs
-
(797)
(1)
(797)
(1,113)
Net cash inflow (outflow) from operating activities
465
(461)
221
502
(529)
Cash flows from investing activities
Capital expenditure
(281)
(239)
(298)
(1,019)
(1,194)
Proceeds from disposal of tangible assets
242
5
3
1,142
39
Proceeds from disposal of assets of discontinued operations
-
-
-
-
10
Other investments acquired
(29)
(39)
(19)
(89)
(93)
Acquisition of associates and equity accounted joint ventures
(353)
-
(1)
(354)
-
Proceeds on disposal of associate
-
-
(2)
-
48
Associates' loans advanced
(2)
-
-
(2)
(4)
Associates' loans repaid
-
-
-
-
4
Proceeds from disposal of investments
25
31
20
81
88
Decrease (increase) in cash restricted for use
2
(2)
14
(10)
(6)
Interest received
17
17
10
55
67
Loans advanced
-
-
-
-
-
Repayment of loans advanced
-
-
-
1
-
Net cash outflow from investing activities
(379)
(227)
(274)
(195)
(1,041)
Cash flows from financing activities
Proceeds from issue of share capital
5
287
1
306
1,722
Share issue expenses
(5)
(5)
-
(11)
(54)
Proceeds from borrowings
29
784
149
2,774
853
Repayment of borrowings
(22)
(1,573)
(17)
(2,731)
(614)
Finance costs paid
(23)
(16)
(25)
(111)
(93)
Dividends paid
(6)
(32)
-
(56)
(58)
Net cash (outflow) inflow from financing activities
(22)
(555)
108
171
1,756
Net increase (decrease) in cash and cash equivalents
64
(1,243)
55
478
186
Translation
(72)
46
(35)
47
(88)
Cash and cash equivalents at beginning of period
1,108
2,305
555
575
477
Cash and cash equivalents at end of period
1,100
1,108
575
1,100
575
Cash generated from operations
Profit (loss) before taxation
650
(1,236)
(1,324)
(121)
(1,377)
Adjusted for:
Movement on non-hedge derivatives and other commodity contracts
306
1,398
(276)
1,787
(88)
Amortisation of tangible assets
154
143
140
555
560
Finance costs and unwinding of obligations
36
39
23
139
114
Environmental, rehabilitation and other expenditure
(9)
5
(8)
(6)
6
Operating special items
(629)
31
1,600
(683)
1,538
Amortisation of intangible assets
-
1
1
2
2
Deferred stripping
27
(13)
(14)
(48)
(51)
Fair value adjustment on option component of convertible bonds
9
9
-
33
(25)
Interest received
(18)
(16)
(11)
(54)
(66)
Share of equity accounted investments' (profit) loss
(30)
(22)
39
(94)
138
Other non-cash movements
(90)
3
36
(115)
87
Movements in working capital
72
21
5
(50)
(206)
478
363
210
1,345
632
Movements in working capital
Increase in inventories
(35)
(12)
(1)
(155)
(151)
Decrease (increase) in trade and other receivables
55
(25)
47
(45)
(9)
Increase (decrease) in trade and other payables
52
58
(40)
150
(46)
72
21
5
(50)
(206)
Rounding of figures may result in computational discrepancies.
background image
Group statement of changes in equity
Cash
Available
Foreign
Share
Other
flow
for
Actuarial
currency
Non-
capital &
capital
Retained
hedge
sale
(losses)
translation
controlling
Total
SA Rand million
premium
reserves
earnings
reserve
reserve
gains
reserve
Total
interests
equity
Balance at December 2007
22,371
714
(5,524)
(1,634)
59
(108)
326
16,204
429
16,633
(Loss) profit for the year
(16,105)
(16,105)
324
(15,781)
Comprehensive income (expense)
831
(72)
(240)
8,747
9,266
22
9,288
Total comprehensive (expense) income
                                   (16,105)              831                 (72)              (240)            8,747           (6,839)                 346           (6,493)
Shares issued
14,965
14,965
14,965
Share-based payment for share awards
118
118
118
Dividends paid
(324)
(324)
(324)
Dividends of subsidiaries
-
(131)
(131)
Acquisition of non-controlling interests
(914)
(914)
6
(908)
Transfers to other reserves
12
(12)
-
-
Translation
(45)
(205)
(5)
1
(254)
140
(114)
Balance at December 2008
37,336
799
(22,879)
(1,008)
(18)
(347)
9,073
22,956
790
23,746
(Loss) profit for the year
(2,762)
(2,762)
417
(2,345)
Comprehensive income (expense)
779
469
60
(2,465)
(1,157)
9
(1,148)
Total comprehensive (expense) income
                                   (2,762)               779                469                  60             (2,465)           (3,919)               426           (3,493)
Shares issued
2,498
2,498
2,498
Share-based payment for share awards
122
122
122
Dividends paid
(392)
(392)
(392)
Dividends of subsidiaries
-
(83)
(83)
Equity transaction of joint venture
306
306
306
Translation
(33)
55
(37)
2
(13)
(167)
(180)
Balance at December 2009
39,834
1,194
(26,033)
(174)
414
(285)
6,608
21,558
966
22,524
US Dollar million
Balance at December 2007 - restated
3,608
105
(1,020)
(240)
9
(16)
(67)
2,379
63
2,442
(Loss) profit for the year
(1,195)
(1,195)
40
(1,155)
Comprehensive income (expense)
104
(9)
(29)
(561)
(495)
3
(492)
Total comprehensive (expense) income
-                  -             (1,195)              104                    (9)                (29)             (561)            (1,690)                43            (1,647)
Shares issued
1,877
1,877
1,877
Share-based payment for share awards
14
14
14
Dividends paid
(41)
(41)
(41)
Dividends of subsidiaries
-
(17)
(17)
Acquisition of non-controlling interests
(111)
(111)
1
(110)
Transfers to other reserves
1
(1)
-
-
Translation
(35)
29
(2)
8
-
(7)
(7)
Balance at December 2008 - restated
5,485
85
(2,368)
(107)
(2)
(37)
(628)
2,428
83
2,511
(Loss) profit for the year
(320)
(320)
52
(268)
Comprehensive income
90
55
7
300
452
1
453
Total comprehensive (expense) income
                                  (320)                  90                  55                                    300                 132                   185
Shares issued
320
320
320
Share-based payment for share awards
15
15
15
Dividends paid
(45)
(45)
(45)
Dividends of subsidiaries
-
(11)
(11)
Equity transaction of joint venture
37
37
37
Translation
24
(6)
3
(8)
13
5
18
Balance at December 2009
5,805
161
(2,733)
(23)
56
(38)
(328)
2,900
130
3,030
Rounding of figures may result in computational discrepancies.
background image
Segmental
reporting
for the quarter and year ended 31 December 2009
Dec
Sep
Dec
Dec
Dec
Dec
Sep
Dec
Dec
Dec
2009
2009
2008
2009
2008
2009
2009
2008
2009
2008
Unaudited
Unaudited
Unaudited
Unaudited
Audited
Unaudited
Unaudited
Unaudited
Unaudited
Audited
Gold income
Southern Africa
3,596
4,081
3,649
14,114
12,395
482
530
368
1,723
1,505
Continental Africa
2,967
2,111
2,010
8,260
9,334
397
270
203
1,019
1,148
Australasia
848
449
937
1,819
2,338
113
58
94
221
280
South America
1,398
1,452
1,390
5,176
3,723
187
188
140
634
446
North America
425
420
531
1,376
1,984
57
54
53
171
240
9,234
8,512
8,517
30,745
29,774
1,236
1,101
858
3,768
3,619
Dec
Sep
Dec
Dec
Dec
Dec
Sep
Dec
Dec
Dec
2009
2009
2008
2009
2008
2009
2009
2008
2009
2008
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Gross profit (loss) adjusted for
unrealised non-hedge derivatives
and other commodity contracts
Southern Africa
919
(1,374)
1,266
2,414
(265)
123
(170)
128
268
(57)
Continental Africa
881
(1,640)
(542)
443
(2,798)
118
(205)
(55)
47
(334)
Australasia
57
(499)
75
(112)
(554)
8
(63)
8
(17)
(70)
South America
691
(215)
432
1,512
211
93
(25)
44
184
19
North America
205
(126)
170
494
99
27
(15)
17
58
10
Other
88
15
24
244
167
11
2
1
28
20
Sub-total
2,841
(3,839)
1,425
4,995
(3,140)
380
(475)
143
568
(412)
Less equity accounted investments
(320)
(271)
(184)
(1,309)
195
(43)
(35)
(18)
(156)
28
2,521
(4,110)
1,241
3,686
(2,945)
337
(510)
125
412
(384)
Dec
Sep
Dec
Dec
Dec
Dec
Sep
Dec
Dec
Dec
2009
2009
2008
2009
2008
2009
2009
2008
2009
2008
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Adjusted gross profit excluding
hedge buy-back costs
Southern Africa
919
906
1,266
4,694
3,938
123
118
128
556
473
Continental Africa
881
635
(542)
2,718
(232)
118
82
(55)
334
(12)
Australasia
57
85
75
473
182
8
11
8
56
23
South America
691
668
432
2,395
1,148
93
87
44
296
138
North America
205
165
170
786
545
27
21
17
95
66
Other
88
15
24
243
40
11
2
1
27
5
Sub-total
2,841
2,476
1,425
11,309
5,621
380
321
143
1,364
693
Less equity accounted investments
(320)
(271)
(184)
(1,308)
(549)
(43)
(35)
(18)
(156)
(67)
2,521
2,205
1,241
10,001
5,072
337
287
125
1,208
626
Rounding of figures may result in computational discrepancies.
AngloGold Ashanti has implemented IFRS8 “Operating Segments” with effect from 1 January 2009 and this has resulted in a change to the segmental information reported
by Anglogold Ashanti. Comparative information has been presented on a consistent basis. AngloGold Ashanti’s operating segments are being reported based on the
financial information provided to the Chief Executive Officer and the Executive Management team, collectively identified as the Chief Operating Decision Maker. Individual
members of the Executive Management team are responsible for geographic regions of the business.
US Dollar million
Quarter ended
Year ended
Quarter ended
Year ended
Quarter ended
Year ended
SA Rand million
Quarter ended
Year ended
Quarter ended
Year ended
SA Rand million
US Dollar million
Quarter ended
Year ended
SA Rand million
US Dollar million
background image
Segmental
reporting (continued)
Dec
Sep
Dec
Dec
Dec
Dec
Sep
Dec
Dec
Dec
2009
2009
2008
2009
2008
2009
2009
2008
2009
2008
Unaudited
Unaudited
Unaudited
Unaudited
Audited
Unaudited
Unaudited
Unaudited
Unaudited
Audited
Gold production
(1)
Southern Africa
13,943
15,014
16,799
57,922
67,409
448
483
540
1,862
2,167
Continental Africa
12,468
12,155
12,459
47,278
48,588
401
391
401
1,520
1,562
Australasia
3,331
3,176
2,651
12,477
13,477
107
102
85
401
433
South America
5,294
4,896
5,098
18,604
17,468
170
157
164
598
562
North America
1,731
1,684
2,422
6,768
8,016
56
54
78
218
258
36,767
36,925
39,429
143,049
154,958
1,182
1,187
1,268
4,599
4,982
Dec
Sep
Dec
Dec
Dec
Dec
Sep
Dec
Dec
Dec
2009
2009
2008
2009
2008
2009
2009
2008
2009
2008
Unaudited
Unaudited
Unaudited
Unaudited
Audited
Unaudited
Unaudited
Unaudited
Unaudited
Audited
Capital expenditure
(1)
Southern Africa
952
927
849
3,392
2,877
124
116
85
405
349
Continental Africa
490
308
707
1,490
2,059
63
40
74
178
250
Australasia
60
61
1,054
1,599
3,618
8
8
105
177
439
South America
441
357
301
1,430
1,044
57
45
30
171
127
North America
295
163
37
727
221
37
20
3
87
27
Other
37
26
46
88
86
4
3
5
9
9
2,275
1,842
2,994
8,726
9,905
293
232
302
1,027
1,201
As at
As at
As at
As at
As at
As at
Dec
Sep
Dec
Dec
Sep
Dec
2009
2009
2008
2009
2009
2008
Unaudited
Unaudited
Audited
Unaudited
Unaudited
Audited
Total assets
Southern Africa
20,169
22,778
20,241
2,713
3,031
2,141
Continental Africa
28,539
20,385
24,405
3,838
2,713
2,581
Australasia
4,494
6,728
12,936
604
895
1,368
South America
9,269
9,061
10,386
1,247
1,206
1,098
North America
5,373
5,002
5,422
723
666
573
Other
5,493
2,919
3,661
739
389
388
73,337
66,873
77,051
9,864
8,900
8,149
Less equity accounted investments
(567)
(502)
(849)
(77)
(67)
(89)
72,770
66,371
76,202
9,787
8,833
8,060
Rounding of figures may result in computational discrepancies.
oz (000)
kg
US Dollar million
(1)
Gold production and capital expenditure includes equity accounted investments.
Year ended
Quarter ended
SA Rand million
SA Rand million
US Dollar million
Year ended
Quarter ended
Year ended
Quarter ended
Year ended
Quarter ended
background image
Notes
for the quarter and year ended 31 December 2009
1. Basis of preparation
The financial statements in this quarterly report have been prepared in accordance with the historic cost convention
except for certain financial instruments which are stated at fair value. Except for the change in accounting policy
described in note 15, the group’s accounting policies used in the preparation of these financial statements are
consistent with those used in the annual financial statements for the year ended 31 December 2008 and revised
International Financial Reporting Standards (IFRS) which are effective 1 January 2009, where applicable, with the
only significant changes arising from IAS1 (revised) – “Presentation of Financial Statements” and IFRS8 “Operating
Segments”. As a result of the revision of IAS1, a Statement of comprehensive income, which discloses non owner
changes in equity, and a statement of changes in equity are presented. The effects of the adoption of IFRS8 are
disclosed in Segmental reporting.
The financial statements of AngloGold Ashanti Limited have been prepared in compliance with IAS34, JSE Listings
Requirements and in the manner required by the South African Companies Act, 1973 for the preparation of financial
information of the group for the quarter and year ended 31 December 2009.
2. Revenue
Quarter ended
Year ended
Quarter ended
Year ended
Dec
Sep
Dec
Dec
Dec
Dec
Sep
Dec
Dec
Dec
2009
2009
2008
2009
2008
2009
2009
2008
2009
2008
Unaudited       Unaudited      Unaudited      Unaudited
  Audited      Unaudited      Unaudited     Unaudited        Unaudited
  Audited
SA Rand million
US Dollar million
Gold income
9,234
8,512
8,517
30,745
29,774
1,236
1,101
858
3,768
3,619
By-products (note 3)
147
173
147
772
480
20
23
15
94
58
Interest received
133
121
108
444
536
18
16
11
54
66
9,514
8,806
8,771
31,961
30,790
1,273
1,140
884
3,916
3,743
3. Cost of sales
Quarter ended
Year ended
Quarter ended
Year ended
Dec
Sep
Dec             Dec              Dec              Dec              Sep
Dec
Dec
Dec
2009
2009
2008
2009
2008
2009
2009
2008
2009
2008
Unaudited      Unaudited      Unaudited      Unaudited
Audited        Unaudited      Unaudited      Unaudited      Unaudited
  Audited
SA Rand million
US Dollar million
Cash operating costs
(4,865)
(4,719)      (4,948)
(18,493)
(16,865)
(652)
(608)           (498)
(2,234)
(2,045)
By-products revenue (note 2)
147
173
147
772
480
20
23
15
94
58
By-products cash operating costs
(77)
(74)              (65)
(351)
(286)
(10)
(10)                (7)                (43)
(36)
(4,795)
(4,620)       (4,866)
(18,072)
(16,671)
(642)
(595)           (490)
(2,183)
(2,023)
Other cash costs
(222)
(222)           (196)
(833)
(734)
(30)
(29)              (20)              (100)              (90)
Total cash costs
(5,017)
(4,842)      (5,062)
(18,905)
(17,405)
(671)
(624)          (510)
(2,283)
(2,113)
Retrenchment costs
(39)
(17)              (16)
(110)
(72)
(5)
(2)              (2)                  (14)                 (9)
Rehabilitation and other non-cash
costs
5
(96)                   2
(182)
(218)
1
(12)                  -
(22)
(28)
Production costs
(5,050)
(4,955)       (5,076)
(19,197)
(17,695)
(676)
(638)         (511)
(2,319)
(2,150)
Amortisation of tangible assets
(1,152)
(1,107)      (1,387)
(4,615)
(4,620)
(154)
(143)         (140)                (555)            (560)
Amortisation of intangible assets
(4)
(4)                (9)
(18)
(21)
-
(1)              (1)                    (2)                 (2)
Total production costs
(6,206)
(6,066)       (6,472)
(23,830)
(22,336)
(830)
(781)           (652)
(2,876)
(2,712)
Inventory change
(13)
(102)           (456)
610              (222)
(2)
(14)             (47)                    63          
               (16)
(6,219)
(6,168)       (6,928)
(23,220)
(22,558)
(833)
(796)           (698)
(2,813)
(2,728)
Rounding of figures may result in computational discrepancies.
background image
4.
(Loss) gain on non-hedge derivatives and other commodity contracts
Quarter ended
Year ended
Quarter ended
Year ended
Dec
Sep
Dec
Dec
Dec
Dec
Sep
Dec
Dec
Dec
2009
2009
2008
2009
2008
2009
2009
2008
2009
2008
Unaudited      Unaudited      Unaudited      Unaudited
  Audited       Unaudited     Unaudited      Unaudited       Unaudited
Audited
SA Rand million
US Dollar million
(Loss) gain on realised non-hedge
derivatives
(494)
(139)            (348)
2,476         (1,275)
(66)
(19)             (35)               254
(155)
Realised loss on other commodity
contracts
-
-
-
-
(253)
-
-
-
-
(32)
Loss on hedge buy-back costs
-
(6,315)                   -
(6,315)
(8,634)
-
(797)                    -
(797)
(1,088)
(Loss) gain on unrealised non-hedge
derivatives
(2,212)
(4,762)             898
(8,095)
3,774            (297)
(606)              260  
           (990)               965
Unrealised gain on other commodity
physical borrowings
-
-
48
-
74
-
-
5
-
8
Provision reversed for gain on future
deliveries of other commodities
-
-
-
-
37
-
-
-
-
5
(2,706)
(11,216)             598
(11,934)
(6,277)
(363)
(1,421)               230
(1,533)          (297)
5.
Other operating income (expenses)
Quarter ended
Year ended
Quarter ended
Year ended
Dec
Sep
Dec
Dec
Dec
Dec
Sep
Dec
Dec
Dec
2009
2009
2008
2009
2008
2009
2009
2008
2009
2008
Unaudited      Unaudited      Unaudited      Unaudited
  Audited       Unaudited      Unaudited     Unaudited      Unaudited
  Audited
SA Rand million
US Dollar million
Pension and medical defined benefit
provisions
29
(24)                80               (44)
                   4
(3)                    8
                 (5)                (2)
Claims filed by former employees in
respect of loss of employment, work-
related accident injuries and
diseases, governmental fiscal claims
and costs of old tailings operations
31
(11)              (20)
(31)
(37)
4
(2)               (2)                   (3)                (4)
Miscellaneous
(2)
(1)                                   (5)
                   -
-
-
-
-
58
(36)                61                (80)
(29)
8
(5)                    6   
                 (8)                 (6)
6.
Operating special items
Quarter ended
Year ended
Quarter ended
Year ended
Dec
Sep
Dec
Dec
Dec
Dec
Sep
Dec
Dec
Dec
2009
2009
2008
2009
2008
2009
2009
2008
2009
2008
Unaudited     Unaudited      Unaudited      Unaudited
  Audited      Unaudited      Unaudited      Unaudited      Unaudited
  Audited
SA Rand million
US Dollar million
Indirect tax (expenses) reimbursement
(240)
11
148
(219)
198
(32)
1
15
(29)
22
Siguiri royalty payment calculation
dispute with the Guinean
Administration
-
-
(26)
-
(26)
-
-
(3)
-
(3)
ESOP costs resulting from
rights offer
-
-
-
-
(76)
-
-
-
-
(9)
Contractor termination costs at
Iduapriem
-
-
(10)
-
(10)
-
-
(1)
-
(1)
Net reversals/(impairments) of tangible
assets (note 8)
5,209
(94)      (14,786)
5,115      (14,792)
696
(13)       (1,492)
683       
         (1,493)
Impairment of goodwill (note 8)
-
-
(1,080)
-
(1,080)
-
-
(109)
-
(109)
Recovery of exploration costs
-
-
-
-
35
-
-
-
-
4
Recovery (loss) on consignment stock
14
7
-
(95)
-
2
1
-
(12)
-
Provision for bad debt - Pamodzi Gold
-
-
-
(66)
-
-
-
-
(7)
-
Insurance claim recovery
54
-
-
54
-
7
-
-
7
-
Net (loss) profit on disposal and
abandonment of land, mineral rights,
tangible assets and exploration
properties (note 8)
(275)
(156)             (55)
420               381              (37)
(21)               (4)                  49
                 52
Nufcor Uranium Trust contributions by
other members (note 8)
-
-
-
-
19
-
-
-
-
3
Impairment of investments (note 8)
-
-
(42)
-
(42)
-
-
(6)
-
(6)
(Loss) profit on disposal of investment
in Nufcor International Limited
(note 8)
-
-
(4)
-
14
-
-
-
-
2
4,761
(231)      (15,855)
5,209      (15,379)
636
(31)       (1,600)
691        
      (1,538)
Rounding of figures may result in computational discrepancies.
background image
7. Taxation
Quarter ended
Year ended
Quarter ended
Year ended
Dec
Sep
Dec
Dec
Dec
Dec
Sep
Dec
Dec
Dec
2009
2009
2008
2009
2008
2009
2009
2008
2009
2008
Unaudited       Unaudited      Unaudited      Unaudited
  Audited      Unaudited       Unaudited       Unaudited      Unaudited
Audited
SA Rand million
US Dollar million
South
African
taxation
Mining tax
(60)
14
-
(153)
-
(8)
2
-
(19)
-
Non-mining tax
(10)
77
(18)
(89)
(85)
(1)
10
(2)
(10)
(12)
Over (under) provision prior year
7
(12)                 18               (33)
(42)
1
(2)                     2
                 (4)                  (6)
Deferred taxation:
Temporary differences
(180)
(44)             (446)
(535)
161               (24)
(6)               (45)               (61)                  30
Unrealised non-hedge
derivatives and other
commodity contracts
204
1,317
(98)
1,451
(841)
27
167
1
181
(89)
Change in estimated deferred tax
rate
156
-
(62)
156
(62)
21
-
(6)
21
(6)
Change in statutory tax rate
-
-
1
-
70
-
-
-
-
9
118
1,353
(605)
797
(799)
16
171
(50)
108
(74)
Foreign taxation
Normal taxation
(335)
(262)           (231)
(1,113)
(651)
(45)
(34)              (24)            (138)              (79)
Over (under) provision prior year
90
(27)                                     50                 41                    12
(4)
-
7
5
Deferred taxation:
Temporary differences
(1,410)
393
3,970
(1,220)
3,747
(188)
51
401
(164)
372
Unrealised non-hedge derivatives
and other commodity contracts
15
193
(155)
314
(259)
2
24
(15)
40
(27)
(1,640)
297
3,583
(1,969)
2,878
(219)
38
363
(255)
271
(1,522)
1,650
2,978
(1,172)
2,079
(204)
209
313
(147)
197
8.
Headline (loss) earnings
Quarter ended
Year ended
Quarter ended
Year ended
Dec
Sep
Dec
Dec
Dec
Dec
Sep
Dec
Dec
Dec
2009
2009
2008
2009
2008
2009
2009
2008
2009
2008
Unaudited       Unaudited      Unaudited      Unaudited
  Audited       Unaudited      Unaudited      Unaudited        Unaudited
  Audited
SA Rand million
US Dollar million
The profit (loss) attributable to equity
shareholders has been adjusted
by the following to arrive at
headline (loss) earnings:
Profit (loss) attributable to equity
shareholders
3,179
(8,245)    (11,869)
(2,762)
(16,105)
424
(1,042)       (1,016)             (320)       (1,195)
Net (reversals)/impairments of
tangible assets (note 6)
(5,209)
94
14,786
(5,115)
14,792
(696)
13
1,492
(683)
1,493
Impairment of goodwill (note 6)
-
-
1,080
-
1,080
-
-
109
-
109
Net loss (profit) on disposal and
abandonment of land, mineral
rights, tangible assets and
exploration properties (note 6)
275
156
55
(420)
(381)
37
21
4
(49)
(52)
Impairment of investments (note 6)
-
-
42
-
42
-
-
6
-
6
Nufcor Uranium Trust contributions
by other members (note 6)
-
-
-
-
(19)
-
-
-
-
(3)
Loss (profit) on disposal of
investment in Nufcor International
Limited (note 6)
-
-
4
-
(14)
-
-
-
-
(2)
Profit on disposal of discontinued
assets
-
-
-
-
(218)
-
-
-
-
(27)
Impairment and operating special
item of investment in associates
1
(2) 347
2 389
-
-
35
-
39
Profit on disposal of assets in
associate
-
-
-
-
(30)
-
-
-
-
(3)
Taxation on items above - current
portion
(12)
(48)                    3
  145                10                  (2)
(6)
-
18
1
Taxation on items above - deferred
portion
1,414
(22)        (3,933)
1,360         (3,915)
189
(3)           (397)                182
             (395)
Discontinued operations taxation on
items above
-
-
-
-
(6)
-
-
-
-
(1)
(353)
(8,068)              516
(6,790)
(4,375)
(48)
(1,018)              234
           (852)                 (30)
Cents per share
(1)
Headline (loss) earnings
(96)
(2,237)             145
(1,880)
(1,379)
(13)
(282)                66
(236)                 (9)
(1)
Calculated on the basic weighted average number of ordinary shares.
Rounding of figures may result in computational discrepancies.
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9.
Number of shares
Quarter ended
Year ended
Dec
Sep
Dec
Dec
Dec
2009
2009
2008
2009
2008
Unaudited
Unaudited
Unaudited           Unaudited             Audited
Authorised number of shares:
Ordinary shares of 25 SA cents each
600,000,000
600,000,000
400,000,000     600,000,000   400,000,000
E ordinary shares of 25 SA cents each
4,280,000
4,280,000
4,280,000         4,280,000      4,280,000
A redeemable preference shares of 50 SA cents each
2,000,000
2,000,000
2,000,000         2,000,000      2,000,000
B redeemable preference shares of 1 SA cent each
5,000,000
5,000,000
5,000,000         5,000,000      5,000,000
Issued and fully paid number of shares:
Ordinary shares in issue
362,240,669
362,003,085
353,483,410      362,240,669   353,483,410
E ordinary shares in issue
3,794,998
3,832,568
3,966,941          3,794,998      3,966,941
Total ordinary shares:
366,035,667
365,835,653
357,450,351       366,035,667  357,450,351
A redeemable preference shares
2,000,000
2,000,000
2,000,000          2,000,000     2,000,000
B redeemable preference shares
778,896
778,896
778,896            778,896        778,896
In calculating the diluted number of ordinary shares outstanding for the
period, the following were taken into consideration:
Ordinary shares
362,137,200
356,194,586
351,517,689      356,563,773   312,610,124
E ordinary shares
3,809,476
3,848,172
3,980,034          3,873,169      4,046,364
Fully vested options
539,666
622,613
440,430            791,353         547,460
Weighted average number of shares
366,486,342
360,665,371
355,938,153      361,228,295   317,203,948
Dilutive potential of share options
1,205,730
-
-
-
-
Diluted number of ordinary shares
(1)
367,692,072
360,665,371
355,938,153      361,228,295   317,203,948
(1) The basic and diluted number of ordinary shares is the same for the September 2009 quarter, December 2008 quarter and years ended December 2009
and December 2008 as the effects of shares for performance related options are anti-dilutive.
10. Share capital and premium
As at
As at
Dec
Sep
Dec
Dec
Sep
Dec
(1)
2009
2009
2008
2009
2009
2008
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
SA Rand million
US Dollar million
Balance at beginning of period
38,246
38,246
23,322
5,625
5,625
3,752
Ordinary shares issued
2,438
2,409
14,946
312
308
1,875
E ordinary shares cancelled
(22)
(17)               (22)                 (2)
(2)                 (3)
Sub-total
40,662
40,638
38,246
5,935
5,931
5,625
Redeemable preference shares held within the group
(313)
(313)             (313)                (53)
(53)               (53)
Ordinary shares held within the group
(212)
(258)             (272)                (32)
(38)               (39)
E ordinary shares held within group
(303)
(308)             (325)                (45)
(45)               (47)
Balance at end of period
39,834
39,759
37,336
5,805
5,794
5,485
(1) During 2009, the group changed its accounting policy to account for equity using historical rates of exchange. The effect of the change has been
calculated retrospectively.
11. Exchange rates
Dec                        Sep
Dec
2009                       2009
                      2008
Unaudited
Unaudited
Unaudited
ZAR/USD average for the year to date
8.39
8.70                       8.25
ZAR/USD average for the quarter
7.47
7.77                       9.92
ZAR/USD closing
7.44
7.51                       9.46
ZAR/AUD average for the year to date
6.56
6.48                       6.93
ZAR/AUD average for the quarter
6.80
6.47                       6.67
ZAR/AUD closing
6.67
6.62                       6.57
BRL/USD average for the year to date
2.00
2.08                       1.84
BRL/USD average for the quarter
1.74
1.87                       2.28
BRL/USD closing
1.75
1.77                       2.34
ARS/USD average for the year to date
3.73
3.70                        3.16
ARS/USD average for the quarter
3.81
3.83                        3.33
ARS/USD closing
3.80
3.84                        3.45
Rounding of figures may result in computational discrepancies.
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12.    Capital commitments
Dec
Sep
Dec
Dec
Sep
Dec
2009
2009
2008
2009
2009
2008
Unaudited          Unaudited       Unaudited        Unaudited         Unaudited        Unaudited
SA Rand million
US Dollar million
Orders placed and outstanding on capital
contracts at the prevailing rate of
exchange
(1)
976
1,096
775
131
146
82
(1) Includes capital commitments relating to equity accounted joint ventures.
Liquidity and capital resources
To service the above capital commitments and other operational requirements, the group is dependent on existing
cash resources, cash generated from operations and borrowing facilities.
Cash generated from operations is subject to operational, market and other risks. Distributions from operations may
be subject to foreign investment and exchange control laws and regulations and the quantity of foreign exchange
available in offshore countries. In addition, distributions from joint ventures are subject to the relevant board
approval.
The credit facilities and other financing arrangements contain financial covenants and other similar undertakings.
To the extent that external borrowings are required, the groups covenant performance indicates that existing
financing facilities will be available to meet the above commitments. To the extent that any of the financing facilities
mature in the near future, the group believes that these facilities can be refinanced.
13.    Contingencies
AngloGold Ashanti’s material contingent liabilities and assets at 31 December 2009 are detailed below:
Contingencies and Guarantees (millions)
SA rand
US dollar
Contingent liabilities
Groundwater pollution – South Africa
(1)
-
-
Deep groundwater pollution – South Africa
(2)
-
-
Sales tax on gold deliveries – Brazil
(3)
560
76
Other tax disputes – Brazil
(4)
191
25
Withholding taxes – Ghana
(5)
67
9
Contingent assets
Royalty – Boddington Gold Mine
(6)
-
-
Insurance claim – Savuka Gold Mine
(7)
-
-
Financial guarantees
Oro Group (Pty) Ltd
(8)
100
13
918
123
AngloGold Ashanti is subject to contingencies pursuant to environmental laws and regulations that may in future
require the group to take corrective action as follows:
(1)   Groundwater pollution – South Africa – AngloGold Ashanti has identified groundwater contamination plumes at its
Vaal River and West Wits operations, which have occurred primarily as a result of seepage from mine residue
stockpiles. Numerous scientific, technical and legal studies have been undertaken since 2002 to assist in
determining the magnitude of the contamination and to find sustainable remediation solutions. The company has
instituted processes to reduce future potential seepage and it has been demonstrated that Monitored Natural
Attenuation (MNA) by the existing environment will contribute to improvement in some instances. Furthermore,
literature reviews, field trials and base line modelling techniques suggest, but are not yet proven, that the use of
phyto-technologies can address the soil and groundwater contamination at all South African operations. Subject to
the completion of trials and the technology being a proven remediation technique, no reliable estimate can be
made for the obligation at this time.
(2)   Deep groundwater pollution – South Africa – AngloGold Ashanti has identified a flooding and future pollution risk
posed by deep groundwater in the Klerksdorp and Far West Rand gold fields. Various studies have been
undertaken by AngloGold Ashanti since 1999. However, due to the interconnected nature of mining operations,
any proposed solution needs to be a combined one that is supported by all the mines located in these gold fields.
Toward this the Department of Mineral Resources and affected mining companies are now involved in the
development of a “Regional Mine Closure Strategy”. Nevertheless, in view of the limitation of current information
for the accurate estimation of a liability, no reliable estimate can be made for the obligation at this time.
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(3)   Sales tax on gold deliveries – Brazil – Mineração Serra Grande S.A. (MSG), received two tax assessments from
the State of Goiás related to payments of sales taxes on gold deliveries for export. The MSG operation is co-
owned with Kinross Gold Corporation. AngloGold Ashanti Brasil Mineração Ltda. manages the operation and its
attributable share of the first assessment is approximately $47m. In November 2006 the administrative council’s
second chamber ruled in favour of MSG and fully cancelled the tax liability related to the first period. The State of
Goiás has appealed to the full board of the State of Goiás tax administrative council. The second assessment was
issued by the State of Goiás in October 2006 on the same grounds as the first one, and the attributable share of
the assessment is approximately $29m. The company believes both assessments are in violation of Federal
legislation on sales taxes.
(4)   MSG received a tax assessment in October 2003 from the State of Minas Gerais related to sales taxes on gold.
The tax administrators rejected the company’s appeal against the assessment. The company is now appealing the
dismissal of the case. The company’s attributable share of the assessment is approximately $8m.
AngloGold subsidiaries in Brazil are involved in various disputes with tax authorities. These disputes involve
federal tax assessments including income tax, royalties, social contributions and annual property tax. The amount
involved is approximately $17m.
(5)   Withholding Taxes – Ghana – AngloGold Ashanti (Ghana) Limited received a tax assessment for $9m during
September 2009 following an audit by the tax authorities related to indirect taxes on various items. Management is
of the opinion that the indirect taxes are not payable and the company has lodged an objection.
(6)   As a result of the sale of the interest in the Boddington Gold Mine joint venture during 2009, the group is entitled to
receive a royalty on any gold recovered or produced by the Boddington Gold Mine, where the gold price is in
excess of Boddington Gold Mine’s cash cost plus $600/oz. The royalty commences on 1 July 2010 and is capped
at a total amount of $100m, R744m.
(7)   On 22 May 2009 an insurable event occurred at Savuka Gold Mine. The amounts due from the insurers are
subject to a formula based on lost production, average gold price and average exchange rates subject to various
excesses and the production and the preparation of supportable data. The insurable amount is not yet
determinable, but management expects that it is likely to exceed $40m, R297m and will be received during the first
half of 2010.
(8)   Provision of surety – South Africa – AngloGold Ashanti has provided sureties in favour of a lender on a gold loan
facility with its affiliate Oro Group (Pty) Ltd and one of its subsidiaries to a maximum value of $13m, R100m. The
suretyship agreements have a termination notice period of 90 days.
14.   Concentration of risk
There is a concentration of risk in respect of reimbursable value added tax and fuel duties from the Tanzanian government:
•      Reimbursable value added tax due from the Tanzanian government amounts to $36m at 31 December 2009
(30 September 2009: $25m). The last audited value added tax return was for the period ended 31 October 2009
and at the reporting date the audited amount was $28m. The outstanding amounts at Geita have been discounted
to their present value at a rate of 7.82%.
•      Reimbursable fuel duties from the Tanzanian government amounts to $48m at 31 December 2009 (30 September
2009: $48m). Fuel duty claims are required to be submitted after consumption of the related fuel and are subject to
authorisation by the Customs and Excise authorities. Claims for refund of fuel duties amounting to $44m have
been lodged with the Customs and Excise authorities, whilst claims for refund of $4m have not yet been lodged.
The outstanding amounts have been discounted to their present value at a rate of 7.82%.
15.    Change in accounting policy
In terms of IAS 21 “The Effects of Changes in Foreign Exchange Rates”, the group has previously presented equity
at the closing rate of exchange. During the current year the group changed its accounting policy to account for
equity using historical rates of exchange. Management’s judgement is that the change in accounting policy will
provide more relevant and reliable information when the group is compared to its gold mining peers, as they report
their equity at historical rates of exchange.
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The effects of the change in accounting policy have been calculated retrospectively and are as follows as at
31 December 2008 and 2007:
Share capital and premium - US Dollar million
2008                     2007
Previously at closing rate
3,425
3,292
Restated at historical rate
3,752
3,713
Impact on translation
327                       421
16.     Borrowings
AngloGold Ashanti’s borrowings are interest bearing.
17.    Announcements
On 25 November 2009, AngloGold Ashanti announced that the finalisation of the sale of the Tau Lekoa mine
together with the adjacent Weltevreden, Jonkerskraal and Goedgenoeg project areas to Simmer and Jack Mines
Limited, as announced on 17 February 2009, which was anticipated to close at the earliest on 1 January 2010 may
be delayed. All suspensive conditions to the sale have been fulfilled except for the approval of the Department of
Mineral Resources (DMR) of the transfer of the applicable mining rights. The approval is expected to occur during
2010 and the duration of the interim period provided for in the sale agreement will therefore be extended.
On 22 December 2009, AngloGold Ashanti reported the completion of the further acquisition as announced on
2 November 2009 that, together with Randgold Resources Limited (“Randgold’), they had jointly entered into an
agreement with L’Office des Mines d’Or de Kilo-Moto (“OKIMO”) to purchase two-thirds of OKIMO’s 30% stake in
the Kibali gold project (formerly the Moto gold project) for $113.6m (AngloGold Ashanti acquiring an effective
additional 10% interest for $56.8m). This follows an announcement on 15 October 2009 that, together with
Randgold, it had completed the acquisition of Moto Goldmines Limited, the gold exploration and development
company which held a 70% interest in the project. OKIMO is a Congolese parastatal entity. Following completion of
the transaction, Randgold and AngloGold Ashanti together hold a 90% interest in the project, and OKIMO holds the
remaining 10% stake, maintaining the continued vested interest of the Government of the Democratic Republic of
the Congo (the “DRC”) in the Kibali gold project.
On 29 December 2009, AngloGold Ashanti Limited announced that in terms of its pre-emptive rights, it together
with IAMGOLD Corporation had closed a transaction with the International Finance Corporation (“IFC”) for the
purchase of the IFC’s 6% stake in Société d’Exploitation des Mines d’or de Sadiola (“SEMOS”), which owns the
Sadiola Gold Mine for a total upfront consideration of $24m (AngloGold Ashanti $12m) to be followed by contingent
payments during 2010, 2011 and 2012 not exceeding in total $3m (AngloGold Ashanti $1.5m). This transaction has
resulted in AngloGold Ashanti and IAMGOLD each increasing their respective interest in Sadiola from 38% to 41%.
In addition, AngloGold Ashanti and IAMGOLD have extended an offer to the Republic of Mali to take up its
proportionate entitlement of 19.15% of the 6% sale interest, by acquiring an equal 0.574% interest in SEMOS from
each of them on terms proportionately identical to those set out above, on or before 31 March 2010.
18.    Dividend
The directors declared Final Dividend No. 107 of 70 (Final Dividend No. 105: 50) South African cents per ordinary
share for the year ended 31 December 2009. In compliance with the requirements of Strate, given the company's
primary listing on the JSE Limited, the salient dates for payment of the dividend are as follows:
To holders of ordinary shares and to holders of CHESS Depositary Interests (CDIs)
Each CDI represents one-fifth of an ordinary share.
2010
Currency conversion date for UK pounds, Australian dollars and Ghanaian cedis
Thursday, 4 March
Last date to trade ordinary shares cum dividend
Friday, 5 March
Last date to register transfers of certificated securities cum dividend
Friday, 5 March
Ordinary shares trade ex dividend
Monday, 8 March
Record date
Friday, 12 March
Payment date
Friday, 19 March
On the payment date, dividends due to holders of certificated securities on the South African share register will
either be electronically transferred to shareholders' bank accounts or, in the absence of suitable mandates,
dividend cheques will be posted to such shareholders.
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Dividends in respect of dematerialised shareholdings will be credited to shareholders' accounts with the relevant
CSDP or broker.
To comply with the further requirements of Strate, between Monday, 8 March 2010 and Friday, 12 March 2010,
both days inclusive, no transfers between the South African, United Kingdom, Australian and Ghana share
registers will be permitted and no ordinary shares pertaining to the South African share register may be
dematerialised or rematerialised.
To holders of American Depositary Shares
Each American Depositary Share (ADS) represents one ordinary share.
2010
Ex dividend on New York Stock Exchange
Wednesday, 10 March
Record date
Friday, 12 March
Approximate date for currency conversion
Friday, 19 March
Approximate payment date of dividend
Monday, 29 March
Assuming an exchange rate of R7.69/$, the dividend payable per ADS is equivalent to 9.10 US cents. This
compares with the final dividend of 4.99 US cents per ADS paid on 23 March 2009. However the actual rate of
payment will depend on the exchange rate on the date for currency conversion.
To holders of Ghanaian Depositary Shares (GhDSs)
100 GhDSs represent one ordinary share.
2010
Last date to trade and to register GhDSs cum dividend
Friday, 5 March
GhDSs trade ex dividend
Monday, 8 March
Record date
Friday, 12 March
Approximate payment date of dividend
Monday, 22 March
Assuming an exchange rate of R1/¢0.1863, the dividend payable per GhDS is equivalent to 0.1304 cedis. This
compares with the final dividend of 0.06565 cedis per Ghanaian Depositary Share (GhDS) paid on 16 March 2009.
However, the actual rate of payment will depend on the exchange rate on the date for currency conversion. In
Ghana, the authorities have determined that dividends payable to residents on the Ghana share register be subject
to a final withholding tax at a rate of 10%, similar to the rate applicable to dividend payments made by resident
companies which is currently at 10%.
In addition, directors declared Dividend No. E7 of 35 South African cents per E ordinary share, payable to
employees participating in the Bokamoso ESOP and Izingwe Holdings (Proprietary) Limited. These dividends will
be paid on Friday, 19 March 2010.
By order of the Board
R P EDEY
M CUTIFANI
Chairman
Chief Executive Officer
16 February 2010
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Non-GAAP
disclosure
A
Dec
Sep
Dec
Dec
Dec
Dec
Sep
Dec
Dec
Dec
2009
2009
2008
2009
2008
2009
2009
2008
2009
2008
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Headline (loss) earnings (note 8)
(353)
(8,068)
516
(6,790)
(4,375)
(48)
(1,018)
234
(852)
(30)
Loss (gain) on unrealised non-hedge derivatives and other commodity
contracts (note 4)
2,212
4,762
(946)
8,095
(3,885)
297
606
(265)
990
(978)
Deferred tax on unrealised non-hedge derivatives and other
commodity contracts
(219)
(1,510)
254
(1,765)
1,219
(29)
(191)
14
(221)
132
Associate's and equity accounted joint ventures share of loss
on unrealised non-hedge derivatives and other commodity
contracts
-
-
-
-
31
-
-
-
-
4
Associate's and equity accounted joint ventures share of deferred tax
on unrealised non-hedge derivatives and other commodity contracts
-
-
-
-
(2)
-
-
-
-
-
Fair value adjustment on option component of convertible bond
66
60
(2)
249
(185)
9
8
-
33
(25)
Adjusted headline earnings (loss)
(1)
1,706
(4,757)
(178)
(211)
(7,197)
228
(596)
(17)
(50)
(897)
Cost of hedge buy-back net of taxation
-
6,006
-
6,006
7,266
-
758
-
758
916
Adjusted headline earnings (loss) excluding hedge buy-back costs
(1)
1,706
1,249
(178)
5,795
69
228
162
(17)
708
19
Cents per share
(2)
Adjusted headline earnings (loss)
(1)
466
(1,319)
(50)
(58)
(2,269)
62
(165)
(5)
(14)
(283)
Adjusted headline earnings (loss) excluding hedge buy-back costs
(1)
466
346
(50)
1,604
22
62
45
(5)
196
6
(1)
-
-
-
-
-
-
-
(2)
B
Dec
Sep
Dec
Dec
Dec
Dec
Sep
Dec
Dec
Dec
2009
2009
2008
2009
2008
2009
2009
2008
2009
2008
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Reconciliation of gross profit (loss) to adjusted gross profit:
(1)
Gross profit (loss)
309
(8,872)
2,187
(4,409)
939
40
(1,116)
390
(578)
594
Loss (gain) on unrealised non-hedge derivatives and other commodity
contracts (note 4)
2,212
4,762
(946)
8,095
(3,885)
297
606
(265)
990
(978)
Adjusted gross profit (loss)
(1)
2,521
(4,110)
1,241
3,686
(2,945)
337
(510)
125
412
(384)
Realised loss on other commodity contracts (note 4)
-
-
-
-
253
-
-
-
-
32
Cost of hedge buy-back (note C)
-
6,315
-
6,315
7,764
-
797
-
797
979
Adjusted gross profit excluding hedge buy-back costs
(1)
2,521
2,205
1,241
10,001
5,072
337
287
125
1,208
626
Rounding of figures may result in computational discrepancies.
Investment in hedge restructure transaction: During the hedge restructure in December 2004 and March 2005 quarters, $83m and $69m in cash was injected respectively into the hedge book in these
quarters to increase the value of long-dated contracts. The entire investment in long-dated derivatives (certain of which have now matured), for the purposes of the adjustment to earnings, will only be
taken into account when the realised portion of long-dated non-hedge derivatives are settled, and not when the short-term contracts were settled;
US Dollar million
US Dollar million
Headline earnings (loss) adjusted for the effect of unrealised non-hedge derivatives, other commodity contracts and fair value adjustments on convertible bond, is intended to illustrate earnings after
adjusting for:
SA Rand million
From time to time AngloGold Ashanti may publicly disclose certain "Non-GAAP" financial measures in the course of its financial presentations, earnings releases, earnings conference calls and
otherwise.
The group utilises certain Non-GAAP performance measures and ratios in managing its business and may provide users of this financial information with additional meaningful comparisons between
current results and results in prior operating periods. Non-GAAP financial measures should be viewed in addition to, and not as an alternative for, the reported operating results or cash flow from
operations or any other measure of performance prepared in accordance with IFRS. In addition, the presentation of these measures may not be comparable to similarly titled measures other
companies use.
Calculated on the basic weighted average number of ordinary shares.
Headline earnings (loss) adjusted for unrealised non-hedge derivatives, other commodity contracts and fair value adjustments on convertible bonds
Quarter ended
Year ended
Loss (gain) on non-hedge derivatives and other commodity contracts in the income statement comprise the change in fair value of all non-hedge derivatives and other commodity contracts as follows:
SA Rand million
The unrealised fair value change on the option component of the convertible bond; and
Quarter ended
In addition, during the June 2008 quarter the hedge book was reduced and contracts to the value of $1,1bn was early settled. Following the sale of the investment in Nufcor International Ltd. (NIL)
uranium contracts of 1m pounds were cancelled. In the September 2009 quarter the hedge book was further reduced and contracts to the value of $797m was settled. The impact on earnings after
taxation was $916m in 2008 and $758m in 2009.
Settled positions: The change in fair value from the previous reporting date or date of recognition (if later) through to the date of settlement.
The unrealised fair value change in contracts that are still open at the reporting date, as well as, the unwinding of the historic marked-to-market value of the position settled in the period;
Open positions: The change in fair value from the previous reporting date or date of recognition (if later) through to the current reporting date; and
Year ended
The unrealised fair value change on the onerous uranium contracts.
Quarter ended
Year ended
Year ended
Gross profit (loss) adjusted for unrealised non-hedge derivatives, other commodity contracts and hedge buy-back costs
(1)
Adjusted gross profit (loss) excludes unrealised non-hedge derivatives and other commodity contracts
Quarter ended
background image
Dec
Sep
Dec
Dec
Dec
Dec
Sep
Dec
Dec
Dec
2009
2009
2008
2009
2008
2009
2009
2008
2009
2008
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
C
Price received
Gold income (note 2)
9,234
8,512
8,517
30,745
29,774
1,236
1,101
858
3,768
3,619
Adjusted for non-controlling interests
(302)
(310)
(308)
(1,056)
(1,078)
(44)
(40)
(31)
(132)
(131)
8,932
8,202
8,209
29,689
28,696
1,192
1,061
827
3,636
3,488
(Loss) gain on realised non-hedge derivatives (note 4)
(494)
(139)
(348)
2,476
(1,275)
(66)
(19)
(35)
254
(155)
Loss on hedge buy-back costs (note 4)
-
(6,315)
-
(6,315)
(8,634)
-
(797)
-
(797)
(1,088)
Associate's and equity accounted joint ventures share of gold
income including realised non-hedge derivatives
826
600
748
2,975
1,568
110
77
75
357
185
Attributable gold income including realised non-hedge derivatives
9,264
2,348
8,609
28,825
20,355
1,236
323
867
3,450
2,430
Attributable gold sold - kg / - oz (000)
37,359
38,435
39,249
142,837
155,954
1,201
1,236
1,262
4,592
5,014
Revenue price per unit - R/kg / - $/oz
247,985
61,095
219,329
201,805
130,522
1,029
261
687
751
485
Attributable gold income including realised non-hedge derivatives
as above
9,264
2,348
8,609
28,825
20,355
1,236
323
867
3,450
2,430
Cost of hedge buy-back (note 4)
-
6,315
-
6,315
7,764
-
797
-
797
979
Associate's and equity accounted joint ventures share of loss on
hedge buy-back costs
-
-
-
-
871
-
-
-
-
109
Attributable gold income including realised non-hedge derivatives
normalised for hedge buy-back costs
9,264
8,663
8,609
35,140
28,990
1,236
1,120
867
4,247
3,518
Attributable gold sold - kg / - oz (000)
37,359
38,435
39,249
142,837
155,954
1,201
1,236
1,262
4,592
5,014
Revenue price per unit normalised for hedge buy-back costs
- R/kg / - $/oz
247,985
225,388
219,329
246,048
185,887
1,029
906
687
925
702
D
Total costs
Total cash costs (note 3)
5,017
4,842
5,062
18,905
17,405
671
624
510
2,283
2,113
Adjusted for non-controlling interests and non-gold producing
companies
(121)
(228)
(204)
(777)
(741)
(16)
(29)
(21)
(91)
(90)
Associates' and equity accounted joint ventures share of total cash
costs
384
307
457
1,412
1,538
51
39
46
171
187
Total cash costs adjusted for non-controlling interests and non-
gold producing companies
5,280
4,921
5,315
19,540
18,202
706
634
535
2,363
2,210
Retrenchment costs (note 3)
39
17
16
110
72
5
2
2
14
9
Rehabilitation and other non-cash costs (note 3)
(5)
96
(2)
182
218
(1)
12
-
22
28
Amortisation of tangible assets (note 3)
1,152
1,107
1,387
4,615
4,620
154
143
140
555
560
Amortisation of intangible assets (note 3)
4
4
9
18
21
-
1
1
2
2
Adjusted for non-controlling interests and non-gold producing
companies
9
(42)
(58)
(108)
(209)
2
(5)
(6)
(12)
(25)
Associate's and equity accounted joint ventures share of
production costs
80
40
126
218
343
12
5
13
26
40
Total production costs adjusted for non-controlling
interests and non-gold producing companies
6,558
6,143
6,794
24,575
23,267
878
791
684
2,970
2,824
Gold produced - kg / - oz (000)
36,767
36,925
39,429
143,049
154,958
1,182
1,187
1,268
4,599
4,982
Total cash cost per unit - R/kg / -$/oz
143,596
133,274
134,813
136,595
117,462
598
534
422
514
444
Total production cost per unit - R/kg / -$/oz
178,379
166,355
172,312
171,795
150,149
743
667
540
646
567
E
EBITDA
Operating profit (loss)
4,317
(9,738)
(14,309)
(1,859)
(16,709)
576
(1,229)
(1,275)
(209)
(1,220)
Amortisation of tangible assets (note 3)
1,152
1,107
1,387
4,615
4,620
154
143
140
555
560
Amortisation of intangible assets (note 3)
4
4
9
18
21
-
1
1
2
2
Impairment of tangible assets (note 6)
(5,209)
94
14,786
(5,115)
14,792
(696)
13
1,492
(683)
1,493
Impairment of goodwill (note 6)
-
-
1,080
-
1,080
-
-
109
-
109
Loss (gain) on unrealised non-hedge derivatives and other commodity
contracts (note 4)
2,212
4,762
(946)
8,095
(3,885)
297
606
(265)
990
(978)
Loss on realised other commodity contracts (note 4)
-
-
-
-
253
-
-
-
-
32
Loss on hedge buy-back costs (note 4)
-
6,315
-
6,315
8,634
-
797
-
797
1,088
RMB derivative contracts buy-back costs
331
397
-
728
-
43
51
-
94
-
Share of associates' EBITDA
348
299
279
1,394
820
47
38
28
166
98
Discontinued operations EBITDA
-
-
4
-
(17)
-
-
-
-
(2)
Impairment of investments (note 6)
-
-
42
-
42
-
-
6
-
6
Loss (profit) on disposal and abandonment of assets (note 6)
275
156
55
(420)
(381)
37
21
4
(49)
(52)
Nufcor Uranium trust contributions by other members (note 6)
-
-
-
-
(19)
-
-
-
-
(3)
Loss (profit) on disposal of investment in Nufcor International Limited
(note 6)
-
-
4
-
(14)
-
-
-
-
(2)
3,430
3,396
2,391
13,771
9,237
458
441
241
1,663
1,131
Rounding of figures may result in computational discrepancies.
US Dollar million / Imperial
Year ended
SA Rand million / Metric
Quarter ended
Year ended
Quarter ended
background image
Dec
Sep
Dec
Dec
Dec
Dec
Sep
Dec
Dec
Dec
2009
2009
2008
2009
2008
2009
2009
2008
2009
2008
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
F
Interest cover
EBITDA (note E)
3,430
3,396
2,391
13,771
9,237
458
441
241
1,663
1,131
Finance costs
268
305
225
1,146
926
36
39
23
139
114
Capitalised finance costs
-
1
75
135
263
-
-
8
15
32
268
306
300
1,281
1,189
36
39
31
154
146
Interest cover - times
13
11
8
11
8
13
11
8
11
8
G
Free cash flow
Net cash inflow from operating activities
3,610
(4,130)
2,678
3,781
(3,127)
465
(461)
221
502
(529)
Stay-in-business capital expenditure
(1,579)
(1,287)
(1,317)
(5,078)
(4,452)
(203)
(161)
(132)
(605)
(540)
2,031
(5,417)
1,361
(1,297)
(7,579)
262
(622)
89
(103)
(1,069)
As at
As at
As at
As at
As at
As at
Dec
Sep
Dec
Dec
Sep
Dec
2009
2009
2008
2009
2009
2008
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
H
Net asset value - cents per share
Total equity
22,524
19,006
23,746
3,030
2,529
2,511
Number of ordinary shares in issue - million (note 9)
366
366
357
366
366
357
Net asset value - cents per share
6,153
5,195
6,643
828
691
702
Total equity
22,524
19,006
23,746
3,030
2,529
2,511
Intangible assets
(1,316)
(1,315)
(1,403)
(177)
(175)
(148)
21,208
17,691
22,343
2,853
2,354
2,363
Number of ordinary shares in issue - million (note 9)
366
366
357
366
366
357
Net tangible asset value - cents per share
5,794
4,836
6,251
779
643
661
I
Net debt
Borrowings - long-term portion
4,862
12,512
8,224
654
1,665
870
Borrowings - short-term portion
9,493
1,867
10,046
1,277
249
1,063
Total borrowings
14,355
14,379
18,270
1,931
1,914
1,933
Corporate office lease
(258)
(257)
(254)
(35)
(34)
(27)
Unamortised portion on the convertible bond
1,019
1,029
(38)
137
137
(4)
Cash restricted for use
(481)
(501)
(415)
(65)
(67)
(44)
Cash and cash equivalents
(8,176)
(8,328)
(5,438)
(1,100)
(1,108)
(575)
Net debt
6,459
6,322
12,125
868
842
1,283
Rounding of figures may result in computational discrepancies.
US Dollar million
Quarter ended
US Dollar million
SA Rand million
SA Rand million
Year ended
Year ended
Quarter ended
background image
Key
operating results
PER REGION & OPERATION
Quarter
Quarter
Quarter
Year
Year
Quarter
Quarter
Quarter
Year
Year
ended
ended
ended
ended
ended
ended
ended
ended
ended
ended
Dec
Sep
Dec
Dec
Dec
Dec
Sep
Dec
Dec
Dec
2009
2009
2008
2009
2008
2009
2009
2008
2009
2008
SA Rand / US Dollar
Great Noligwa
58
57
54
205
213
8
7
5
24
26
Kopanang
145
123
116
486
391
19
15
12
58
47
Moab Khotsong
244
250
205
874
736
32
31
20
104
89
Tau Lekoa
41
40
39
142
146
5
5
4
17
18
Surface Operations
8
8
1
21
6
1
1
-
3
1
Mponeng
258
239
228
912
707
34
30
23
109
86
Savuka
44
12
25
107
89
5
2
2
13
11
TauTona
133
135
147
479
491
17
17
15
57
60
SOUTH AFRICA
931
865
815
3,228
2,779
121
108
81
385
337
Navachab
21
62
34
164
98
3
8
4
20
12
SOUTHERN AFRICA
952
927
849
3,392
2,877
124
116
85
405
349
Iduapriem
94
44
150
235
448
12
6
16
28
54
Obuasi
220
191
383
788
922
29
24
42
94
112
Siguiri - Attributable 85%
53
26
29
187
151
7
4
2
22
18
Morila - Attributable 40%
1
(1)
5
33
9
-
-
1
4
1
Sadiola
1
- Attributable 41%
19
6
14
31
27
2
1
2
4
3
Yatela - Attributable 40%
13
1
11
5
23
2
-
1
1
3
Geita
69
34
105
160
433
9
4
10
19
53
Non-controlling interests, exploration
and other
21
7
10
51
46
2
1
-
6
6
CONTINENTAL AFRICA
490
308
707
1,490
2,059
63
40
74
178
250
Sunrise Dam
57
60
46
259
159
8
8
5
31
19
Boddington
-
-
1,007
1,335
3,457
-
-
100
146
419
Exploration
3
1
1
5
2
-
-
-
-
1
AUSTRALASIA
60
61
1,054
1,599
3,618
8
8
105
177
439
Cripple Creek & Victor
294
163
36
726
221
37
20
3
87
27
NORTH AMERICA
295
163
37
727
221
37
20
3
87
27
Cerro Vanguardia - Attributable 92.50%
66
48
36
141
125
8
6
4
17
15
AngloGold Ashanti Brasil Mineração
218
196
129
705
565
28
24
12
84
69
Serra Grande - Attributable 50%
73
55
66
279
168
10
7
7
33
20
Non-controlling interests, exploration
and other
84
58
70
305
186
11
8
7
37
23
SOUTH AMERICA
441
357
301
1,430
1,044
57
45
30
171
127
OTHER
37
26
46
88
86
4
3
5
9
9
ANGLOGOLD ASHANTI
2,275
1,842
2,994
8,726
9,905
293
232
302
1,027
1,201
Rounding of figures may result in computational discrepancies.
Capital expenditure - Rm
Capital expenditure - $m
1
Effective 29 December 2009, AngloGold Ashanti increased its interest in Sadiola from 38% to 41%.
background image
Development
for the quarter ended 31 December 2009
Statistics are shown in metric units
Advanced
metres
Sampled
Ave. channel
(total)
metres
width (cm)
Ave. g/t
Ave. cm.g/t
Ave. kg/t
Ave. cm.kg/t
SOUTHERN AFRICA
VAAL RIVER
Great Noligwa
C reef
226
90
9.6
85.52
821
2.65
25.41
Vaal reef
702
24
124.8
14.28
1,782
0.38
47.91
Kopanang
Vaal reef
7,338
770
28.1
48.61
1,366
3.11
85.55
Moab Khotsong
Vaal reef
4,890
420
132.3
31.91
4,222
1.66
215.19
Tau Lekoa
Ventersdorp Contact reef
2,184
160
71.2
5.20
370
0.01
1.05
SOUTHERN AFRICA
WEST WITS
Mponeng
Ventersdorp Contact reef
4,441
522
47.8
41.28
1,973
-
-
Tau Tona
Ventersdorp Contact reef
41
-
-
-
-
-
-
Carbon Leader reef
857
58
11.9
325.29
3,871
2.11
24.91
CONTINENTAL AFRICA
Obuasi
4,818
2,146
*450.0
6.98
3,141
-
-
AUSTRALASIA
Sunrise Dam
599
599
-
3.70
-
-
-
SOUTH AMERICA
Brasil Mineração
Mina de Cuiabá
1,310
314
937.0
5.64
-
-
-
Córrego do Sitio
5,030
1,783
-
3.82
-
-
-
Lamego
1,130
42
60.0
4.85
-
-
-
Serra Grande
Mina III
1,582
840
100.0
4.08
-
-
-
Mina Nova
92
-
-
-
-
-
-
Statistics are shown in imperial units
Advanced
feet
Sampled
Ave. channel
(total)
feet
width (inches)
Ave. oz/t
Ave. ft.oz/t
Ave. lb/t
Ave. ft.lb/t
SOUTHERN AFRICA
VAAL RIVER
Great Noligwa
C reef
741
295
3.8
2.49
0.79
5.30
1.67
Vaal reef
2,302
79
49.1
0.42
1.71
0.76
3.11
Kopanang
Vaal reef
24,073
2,526
11.1
1.42
1.31
6.22
5.73
Moab Khotsong
Vaal reef
16,042
1,378
52.1
0.93
4.04
3.32
14.41
Tau Lekoa
Ventersdorp Contact reef
7,167
525
28.0
0.15
0.35
0.02
0.05
SOUTHERN AFRICA
WEST WITS
Mponeng
Ventersdorp Contact reef
14,572
1,713
18.8
1.20
1.89
-
-
Tau Tona
Ventersdorp Contact reef
134
-
-
-
-
-
-
Carbon Leader reef
2,813
190
4.7
9.49
3.70
4.22
1.65
CONTINENTAL AFRICA
Obuasi
15,806
7,041
*177.2
0.20
3.01
-
-
AUSTRALASIA
Sunrise Dam
1,965
1,965
-
0.11
-
-
-
SOUTH AMERICA
Brasil Mineração
Mina de Cuiabá
4,299
1,030
368.9
0.16
-
-
-
Córrego do Sitio
16,503
5,848
-
0.11
-
-
-
Lamego
3,706
138
23.6
0.14
-
-
-
Serra Grande
Mina III
5,190
2,756
39.4
0.12
-
-
-
Mina Nova
301
-
-
-
-
-
-
* Average ore body width.
Sampled
gold
uranium
Development values represent actual results of sampling, no allowances having been made for adjustments necessary in estimating ore reserves.
Sampled
gold
uranium
background image
Key
operating results
PER REGION & OPERATION
Quarter
Quarter
Quarter
Year
Year
Quarter
Quarter
Quarter
Year
Year
ended
ended
ended
ended
ended
ended
ended
ended
ended
ended
Dec
Sep
Dec
Dec
Dec
Dec
Sep
Dec
Dec
Dec
2009
2009
2008
2009
2008
2009
2009
2008
2009
2008
Metric
Great Noligwa
5.57
5.46
6.37
5.73
7.33
1,044
1,292
1,969
4,914
10,268
Kopanang
7.57
6.63
6.78
6.74
6.82
3,177
2,857
2,827
10,481
11,244
Moab Khotsong
8.88
9.99
9.03
9.36
9.31
2,260
1,922
2,194
7,686
5,965
Tau Lekoa
3.59
3.20
3.53
3.32
3.58
1,044
971
1,105
3,852
4,444
Surface Operations
0.47
0.52
0.42
0.53
0.36
1,127
1,229
848
5,092
2,864
Mponeng
8.27
8.15
9.45
8.66
10.02
3,938
3,892
4,492
16,159
18,672
Savuka
3.91
2.48
6.96
5.45
6.28
63
31
566
924
2,057
TauTona
1
7.11
7.39
8.37
7.29
8.66
765
2,309
2,184
6,800
9,769
SOUTH AFRICA
13,418
14,504
16,185
55,908
65,283
Navachab
1.97
1.61
1.53
1.58
1.43
526
509
614
2,014
2,126
SOUTHERN AFRICA
13,943
15,014
16,799
57,922
67,409
Iduapriem
1.81
1.54
1.83
1.72
1.76
1,693
1,608
1,761
5,909
6,221
Obuasi
1
5.52
5.68
4.62
5.18
4.37
3,024
2,847
3,062
11,861
11,107
Siguiri - Attributable 85%
1.06
1.10
1.10
1.11
1.20
2,396
2,451
2,533
9,836
10,350
Morila - Attributable 40%
2.25
2.26
3.31
2.47
3.08
957
995
1,456
4,251
5,298
Sadiola
2
- Attributable 41%
2.12
2.33
3.58
2.52
3.42
991
983
1,530
4,187
5,357
Yatela
3
- Attributable 40%
3.91
3.24
2.60
3.62
2.66
872
685
503
2,768
2,052
Geita
2.09
2.20
1.68
1.89
1.92
2,534
2,586
1,614
8,466
8,203
CONTINENTAL AFRICA
12,468
12,155
12,459
47,278
48,588
Sunrise Dam
4
3.03
2.90
2.33
2.87
3.46
3,331
3,176
2,651
12,477
13,477
AUSTRALASIA
3,331
3,176
2,651
12,477
13,477
Cerro Vanguardia - Attributable 92.50%
6.12
6.20
7.44
6.51
5.44
1,448
1,469
1,752
5,980
4,799
AngloGold Ashanti Brasil Mineração
1
7.28
7.33
7.77
7.02
7.62
3,019
2,806
2,596
10,229
9,960
Serra Grande
1
- Attributable 50%
5.83
4.41
8.00
4.72
7.58
826
621
750
2,396
2,709
SOUTH AMERICA
5,294
4,896
5,098
18,604
17,468
Cripple Creek & Victor
3
0.46
0.44
0.48
0.46
0.49
1,731
1,684
2,422
6,768
8,016
NORTH AMERICA
1,731
1,684
2,422
6,768
8,016
ANGLOGOLD ASHANTI
36,767
36,925
39,429
143,049
154,958
Underground Operations
6.68
6.41
6.72
6.41
6.89
19,435
19,816
21,679
76,532
85,025
Surface and Dump Reclamation
0.48
0.49
0.44
0.51
0.42
1,476
1,527
1,362
6,481
5,009
Open-pit Operations
1.98
1.95
2.01
1.96
2.12
13,128
13,077
13,240
50,041
53,930
Heap Leach Operations
5
0.72
0.60
0.61
0.65
0.62
2,728
2,505
3,148
9,995
10,994
36,767
36,925
39,429
143,049
154,958
3
The yield of Yatela and Cripple Creek & Victor reflects gold placed / tonnes
placed.
2
Effective 29 December 2009, AngloGold Ashanti increased its interest in Sadiola from 38% to 41%.
Rounding of figures may result in computational discrepancies.
Yield - g/t
Gold produced - kg
5
The yield is calculated on gold placed into leach pad inventory / tonnes
placed on to leach pad.
1
The yield of TauTona, Obuasi, AngloGold Ashanti Brasil Mineração and Serra Grande
represents underground operations.
4
The yield of Sunrise Dam represents open-pit operations.
background image
Key
operating results
PER REGION & OPERATION
Quarter
Quarter
Quarter
Year
Year
Quarter
Quarter
Quarter
Year
Year
ended
ended
ended
ended
ended
ended
ended
ended
ended
ended
Dec
Sep
Dec
Dec
Dec
Dec
Sep
Dec
Dec
Dec
2009
2009
2008
2009
2008
2009
2009
2008
2009
2008
Metric
Great Noligwa
77
94
125
89
143
1,021
1,374
1,967
4,892
10,282
Kopanang
212
191
188
175
188
3,108
2,978
2,823
10,413
11,253
Moab Khotsong
193
178
231
180
204
2,219
2,021
2,192
7,644
5,966
Tau Lekoa
116
107
124
107
127
1,021
1,030
1,104
3,829
4,447
Surface Operations
1,608
1,759
1,157
1,812
1,021
1,102
1,323
847
5,066
2,867
Mponeng
241
237
289
252
296
4,029
4,094
4,496
16,163
18,720
Savuka
21
11
170
74
158
64
34
566
925
2,063
TauTona
64
226
209
161
214
818
2,403
2,184
6,804
9,800
SOUTH AFRICA
165
184
204
177
204
13,381
15,259
16,179
55,737
65,398
Navachab
284
287
373
290
368
538
491
643
1,984
2,128
SOUTHERN AFRICA
168
186
208
180
207
13,919
15,749
16,822
57,722
67,526
Iduapriem
611
578
679
549
600
1,718
1,517
1,717
5,921
6,230
Obuasi
208
196
218
209
197
3,203
2,850
3,003
12,035
10,974
Siguiri - Attributable 85%
520
527
637
547
625
2,622
3,069
2,680
9,590
10,469
Morila - Attributable 40%
1,479
1,554
1,021
1,266
873
1,129
983
1,438
4,341
5,446
Sadiola
1
- Attributable 41%
645
692
1,102
720
931
1,099
894
1,459
4,329
5,418
Yatela - Attributable 40%
1,264
984
665
958
618
931
642
479
2,826
2,050
Geita
390
409
254
338
329
2,713
2,505
1,638
8,449
8,088
CONTINENTAL AFRICA
399
391
335
386
374
13,413
12,458
12,413
47,490
48,675
Sunrise Dam
2,330
2,243
2,150
2,287
2,741
3,474
2,843
2,734
12,317
13,455
AUSTRALASIA
2,330
2,243
2,150
2,287
2,741
3,474
2,843
2,734
12,317
13,455
Cerro Vanguardia - Attributable 92.50%
690
690
822
710
559
1,175
2,088
1,528
5,991
5,169
AngloGold Ashanti Brasil Mineração
531
526
582
481
558
2,906
2,931
2,696
10,117
10,464
Serra Grande - Attributable 50%
723
571
745
544
716
782
689
676
2,445
2,693
SOUTH AMERICA
593
573
390
545
489
4,863
5,708
4,900
18,553
18,326
Cripple Creek & Victor
1,548
1,520
2,318
1,538
1,909
1,689
1,676
2,380
6,755
7,972
NORTH AMERICA
1,548
1,520
2,318
1,538
1,909
1,689
1,676
2,380
6,755
7,972
ANGLOGOLD ASHANTI
292
301
295
292
309
37,359
38,435
39,249
142,837
155,954
Rounding of figures may result in computational discrepancies.
Productivity per employee - g
Gold sold - kg
1
Effective 29 December 2009, AngloGold Ashanti increased its interest in Sadiola from 38% to 41%.
background image
Key
operating results
PER REGION & OPERATION
Quarter
Quarter
Quarter
Year
Year
Quarter
Quarter
Quarter
Year
Year
ended
ended
ended
ended
ended
ended
ended
ended
ended
ended
Dec
Sep
Dec
Dec
Dec
Dec
Sep
Dec
Dec
Dec
2009
2009
2008
2009
2008
2009
2009
2008
2009
2008
SA Rand / Metric
Great Noligwa
243,647
228,066
144,190
211,048
119,140
299,374
269,935
179,299
264,016
145,120
Kopanang
96,085
110,280
99,050
107,580
91,516
134,571
154,448
135,067
155,744
129,241
Moab Khotsong
117,467
119,083
101,180
111,662
102,216
202,773
195,043
166,260
194,532
170,693
Tau Lekoa
175,943
198,952
152,541
191,184
140,368
168,412
204,095
197,435
201,203
173,780
Surface Operations
110,207
101,339
116,749
89,867
116,290
112,168
106,128
123,411
93,700
124,038
Mponeng
95,372
93,380
71,022
86,928
65,365
115,109
113,899
85,700
105,562
84,523
Savuka
975,068
2,448,510
81,339
295,800
106,748
1,256,025
3,001,824
144,345
367,668
137,104
TauTona
346,655
125,198
103,961
147,668
97,483
479,619
178,428
186,583
210,794
135,160
SOUTH AFRICA
136,761
130,009
101,675
123,401
95,144
178,845
168,432
141,898
163,770
126,673
Navachab
175,352
153,760
163,164
165,298
142,795
163,946
173,607
186,190
177,190
160,623
SOUTHERN AFRICA
138,216
130,815
103,922
124,858
96,647
178,283
168,608
143,516
164,236
127,744
Iduapriem
123,630
123,471
184,109
137,397
141,662
143,945
135,470
205,867
154,038
164,300
Obuasi
136,172
167,356
227,350
170,861
171,223
182,052
205,661
280,492
215,305
224,223
Siguiri - Attributable 85%
152,730
125,416
152,574
139,036
123,442
169,839
155,245
177,449
159,275
143,801
Morila - Attributable 40%
157,585
139,689
122,592
140,981
111,128
182,675
150,571
146,612
155,936
131,341
Sadiola
1
- Attributable 41%
153,896
132,930
123,137
128,920
106,486
181,463
151,846
186,097
151,233
148,948
Yatela - Attributable 40%
91,723
54,240
178,973
98,617
151,165
125,839
69,808
168,722
121,069
155,196
Geita
253,398
220,599
294,552
251,419
193,392
291,177
258,683
342,695
296,126
245,414
CONTINENTAL AFRICA
159,820
151,525
187,010
162,309
145,457
191,688
180,036
223,947
192,988
180,906
Sunrise Dam
200,811
161,239
154,754
171,100
138,295
223,993
184,234
188,295
199,918
165,643
AUSTRALASIA
207,318
163,403
162,701
175,584
143,892
231,129
187,005
193,158
205,027
171,135
Cerro Vanguardia - Attributable 92.50%
81,425
84,615
148,071
96,642
162,345
119,975
113,590
183,107
131,823
202,598
AngloGold Ashanti Brasil Mineração
100,737
82,838
74,764
88,765
78,701
131,656
123,798
115,725
127,982
113,696
Serra Grande - Attributable 50%
81,045
111,359
82,975
107,311
77,872
114,390
147,349
114,416
142,878
104,690
SOUTH AMERICA
92,710
87,276
104,448
93,917
106,336
130,196
124,522
141,969
132,686
141,485
Cripple Creek & Victor
100,989
98,114
102,980
100,315
83,448
124,846
122,291
137,163
127,226
111,667
NORTH AMERICA
101,854
101,004
113,386
102,971
90,397
125,737
125,204
147,583
129,906
118,636
ANGLOGOLD ASHANTI
143,596
133,274
134,813
136,595
117,462
178,379
166,355
172,312
171,795
150,149
Rounding of figures may result in computational discrepancies.
Total cash costs - R/kg
Total production costs - R/kg
1
Effective 29 December 2009, AngloGold Ashanti increased its interest in Sadiola from 38% to 41%.
background image
Key
operating results
PER REGION & OPERATION
Quarter
Quarter
Quarter
Year
Year
Quarter
Quarter
Quarter
Year
Year
ended
ended
ended
ended
ended
ended
ended
ended
ended
ended
Dec
Sep
Dec
Dec
Dec
Dec
Sep
Dec
Dec
Dec
2009
2009
2008
2009
2008
2009
2009
2008
2009
2008
Great Noligwa
(56)
(241)
78
(270)
(430)
(56)
(57)
78
(86)
421
Kopanang
345
(180)
240
535
(132)
345
210
240
926
644
Moab Khotsong
94
(199)
114
136
(138)
94
60
114
395
95
Tau Lekoa
78
(123)
22
22
(230)
78
23
22
168
60
Surface Operations
145
(32)
81
578
43
145
160
81
770
177
Mponeng
524
(172)
594
1,633
772
524
461
594
2,265
1,887
Savuka
(63)
(92)
42
(113)
(8)
(63)
(87)
42
(108)
104
TauTona
(186)
(265)
72
(150)
(130)
(186)
112
72
226
495
SOUTH AFRICA
880
(1,304)
1,243
2,371
(253)
880
881
1,243
4,556
3,883
Navachab
39
(70)
23
43
(12)
39
25
23
138
55
SOUTHERN AFRICA
919
(1,374)
1,266
2,414
(265)
919
906
1,266
4,694
3,938
Iduapriem
193
(122)
26
295
(165)
193
121
26
538
147
Obuasi
194
(548)
(330)
(281)
(1,063)
194
64
(330)
332
(550)
Siguiri - Attributable 85%
223
(790)
103
(223)
59
223
199
103
766
438
Morila
1
- Attributable 40%
99
86
107
462
(20)
99
86
107
462
315
Sadiola
1,2
- Attributable 41%
92
76
47
470
(180)
92
76
47
470
222
Yatela
1
- Attributable 40%
129
109
29
376
(53)
129
109
29
376
81
Geita
(96)
(499)
(570)
(833)
(1,545)
(96)
(69)
(570)
(403)
(1,054)
Non-controlling interests, exploration and
other
47
48
46
177
169
47
49
46
177
169
CONTINENTAL AFRICA
881
(1,640)
(542)
443
(2,798)
881
635
(542)
2,718
(232)
Sunrise Dam
81
(491)
88
(48)
(480)
81
94
88
537
256
Exploration and other
(24)
(9)
(13)
(64)
(74)
(24)
(9)
(13)
(64)
(74)
AUSTRALASIA
57
(499)
75
(112)
(554)
57
85
75
473
182
Cerro Vanguardia - Attributable 92.50%
142
(6)
17
385
(231)
142
216
17
607
(87)
AngloGold Ashanti Brasil Mineração
341
(179)
271
736
129
341
317
271
1,231
776
Serra Grande - Attributable 50%
104
(93)
68
105
79
104
55
68
253
213
Non-controlling interests, exploration and
other
104
63
76
286
234
104
80
76
304
246
SOUTH AMERICA
691
(215)
432
1,512
211
691
668
432
2,395
1,148
Cripple Creek & Victor
207
(121)
195
513
155
207
170
195
804
601
Other
(2)
(5)
(25)
(19)
(56)
(2)
(5)
(25)
(18)
(56)
NORTH AMERICA
205
(126)
170
494
99
205
165
170
786
545
OTHER
88
15
24
244
167
88
15
24
243
40
SUB-TOTAL
2,841
(3,839)
1,425
4,995
(3,140)
2,841
2,476
1,425
11,309
5,621
Less equity accounted investments
(320)
(271)
(184)
(1,309)
195
(320)
(271)
(184)
(1,308)
(549)
ANGLOGOLD ASHANTI
2,521
(4,110)
1,241
3,686
(2,945)
2,521
2,205
1,241
10,001
5,072
1
Equity accounted investments.
2
Effective 29 December 2009, AngloGold Ashanti increased its interest in Sadiola from 38% to 41%.
Rounding of figures may result in computational discrepancies.
SA Rand
Gross profit (loss) adjusted for the gain (loss) on unrealised non-hedge
derivatives and other commodity contracts - Rm
Adjusted gross profit (loss) excluding hedge buy-back costs - Rm
background image
Key
operating results
PER REGION & OPERATION
Quarter
Quarter
Quarter
Year
Year
Quarter
Quarter
Quarter
Year
Year
ended
ended
ended
ended
ended
ended
ended
ended
ended
ended
Dec
Sep
Dec
Dec
Dec
Dec
Sep
Dec
Dec
Dec
2009
2009
2008
2009
2008
2009
2009
2008
2009
2008
Imperial
Great Noligwa
0.162
0.159
0.186
0.167
0.214
34
42
63
158
330
Kopanang
0.221
0.193
0.198
0.197
0.199
102
92
91
336
362
Moab Khotsong
0.259
0.291
0.263
0.273
0.271
73
62
71
247
192
Tau Lekoa
0.105
0.093
0.103
0.097
0.104
34
31
36
124
143
Surface Operations
0.014
0.015
0.012
0.015
0.011
36
40
27
164
92
Mponeng
0.241
0.238
0.276
0.253
0.292
127
125
144
520
600
Savuka
0.114
0.072
0.203
0.159
0.183
2
1
18
30
66
TauTona
1
0.207
0.216
0.244
0.213
0.253
25
74
70
218
314
SOUTH AFRICA
431
466
520
1,797
2,099
Navachab
0.058
0.047
0.045
0.046
0.042
17
16
20
65
68
SOUTHERN AFRICA
448
483
540
1,862
2,167
Iduapriem
0.053
0.045
0.053
0.050
0.051
54
52
57
190
200
Obuasi
1
0.161
0.166
0.135
0.151
0.127
97
92
98
381
357
Siguiri - Attributable 85%
0.031
0.032
0.032
0.032
0.035
77
79
81
316
333
Morila - Attributable 40%
0.066
0.066
0.096
0.072
0.090
31
32
47
137
170
Sadiola
2
- Attributable 41%
0.062
0.068
0.104
0.074
0.100
32
32
49
135
172
Yatela
3
- Attributable 40%
0.114
0.095
0.076
0.106
0.078
28
22
16
89
66
Geita
0.061
0.064
0.049
0.055
0.056
81
83
52
272
264
CONTINENTAL AFRICA
401
391
401
1,520
1,562
Sunrise Dam
4
0.088
0.085
0.068
0.084
0.101
107
102
85
401
433
AUSTRALASIA
107
102
85
401
433
Cerro Vanguardia - Attributable 92.50%
0.178
0.181
0.217
0.190
0.159
47
47
56
192
154
AngloGold Ashanti Brasil Mineração
1
0.212
0.214
0.227
0.205
0.222
97
90
83
329
320
Serra Grande
1
- Attributable 50%
0.170
0.129
0.233
0.138
0.221
27
20
24
77
87
SOUTH AMERICA
170
157
164
598
562
Cripple Creek & Victor
3
0.013
0.013
0.014
0.013
0.014
56
54
78
218
258
NORTH AMERICA
56
54
78
218
258
ANGLOGOLD ASHANTI
1,182
1,187
1,268
4,599
4,982
Undergound Operations
0.195
0.187
0.196
0.187
0.201
625
637
697
2,461
2,734
Surface and Dump Reclamation
0.014
0.014
0.013
0.015
0.012
47
49
44
208
161
Open-pit Operations
0.058
0.057
0.059
0.057
0.062
422
420
426
1,609
1,734
Heap leach Operations
5
0.021
0.018
0.018
0.019
0.018
88
81
101
321
353
1,182
1,187
1,268
4,599
4,982
placed.
Rounding of figures may result in computational discrepancies.
placed on to leach pad.
2
Effective 29 December 2009, AngloGold Ashanti increased its interest in Sadiola from 38% to 41%.
Yield - oz/t
Gold produced - oz (000)
1
The yield of TauTona, Obuasi, AngloGold Ashanti Brasil Mineração and Serra Grande
represents underground operations.
4
The yield of Sunrise Dam represents open-pit operations.
3
The yield of Yatela and Cripple Creek & Victor reflects gold placed / tonnes
5
The yield is calculated on gold placed into leach pad inventory / tonnes
background image
Key
operating results
PER REGION & OPERATION
Quarter
Quarter
Quarter
Year
Year
Quarter
Quarter
Quarter
Year
Year
ended
ended
ended
ended
ended
ended
ended
ended
ended
ended
Dec
Sep
Dec
Dec
Dec
Dec
Sep
Dec
Dec
Dec
2009
2009
2008
2009
2008
2009
2009
2008
2009
2008
Imperial
Great Noligwa
2.48
3.03
4.01
2.86
4.60
33
44
63
157
331
Kopanang
6.82
6.14
6.06
5.63
6.04
100
96
91
335
362
Moab Khotsong
6.19
5.73
7.44
5.79
6.55
71
65
70
246
192
Tau Lekoa
3.72
3.45
4.00
3.43
4.08
33
33
35
123
143
Surface Operations
51.69
56.54
37.19
58.27
32.82
35
43
27
163
92
Mponeng
7.76
7.63
9.31
8.11
9.53
130
132
145
520
602
Savuka
0.68
0.34
5.48
2.38
5.09
2
1
18
30
66
TauTona
2.06
7.26
6.73
5.14
6.89
26
77
70
219
315
SOUTH AFRICA
5.31
5.92
6.57
5.70
6.55
430
491
520
1,792
2,103
Navachab
9.14
9.24
12.00
9.33
11.83
17
16
21
64
68
SOUTHERN AFRICA
5.40
5.99
6.68
5.77
6.65
448
506
541
1,856
2,171
Iduapriem
19.65
18.59
21.83
17.63
19.30
55
49
55
190
200
Obuasi
6.69
6.29
7.01
6.72
6.34
103
92
97
387
353
Siguiri - Attributable 85%
16.73
16.93
20.47
17.58
20.09
84
99
86
308
337
Morila - Attributable 40%
47.55
49.98
32.84
40.70
28.05
36
32
46
140
175
Sadiola
1
- Attributable 41%
20.75
22.25
35.44
23.14
29.95
35
29
47
139
174
Yatela - Attributable 40%
40.65
31.64
21.38
30.80
19.86
30
21
15
91
66
Geita
12.55
13.15
8.16
10.87
10.58
87
81
53
272
260
CONTINENTAL AFRICA
12.82
12.58
10.79
12.40
12.02
431
401
399
1,527
1,565
Sunrise Dam
74.90
72.12
69.12
73.52
88.12
112
91
88
396
433
AUSTRALASIA
74.90
72.12
69.12
73.52
88.12
112
91
88
396
433
Cerro Vanguardia - Attributable 92.50%
22.18
22.20
26.43
22.83
17.98
38
67
49
193
166
AngloGold Ashanti Brasil Mineração
17.09
16.92
18.71
15.45
17.94
93
94
87
325
336
Serra Grande - Attributable 50%
23.25
18.35
23.95
17.51
23.04
25
22
22
79
87
SOUTH AMERICA
19.08
18.42
12.53
17.54
15.73
156
184
158
596
589
Cripple Creek & Victor
49.78
48.87
74.51
49.46
61.39
54
54
77
217
256
NORTH AMERICA
49.78
48.87
74.51
49.46
61.39
54
54
77
217
256
ANGLOGOLD ASHANTI 9.40
9.68
9.48
9.40
9.94
1,201
1,236
1,262
4,592
5,014
Rounding of figures may result in computational discrepancies.
Productivity per employee - oz
Gold sold - oz (000)
1
Effective 29 December 2009, AngloGold Ashanti increased its interest in Sadiola from 38% to 41%.
background image
Key
operating results
PER REGION & OPERATION
Quarter
Quarter
Quarter
Year
Year
Quarter
Quarter
Quarter
Year
Year
ended
ended
ended
ended
ended
ended
ended
ended
ended
ended
Dec
Sep
Dec
Dec
Dec
Dec
Sep
Dec
Dec
Dec
2009
2009
2008
2009
2008
2009
2009
2008
2009
2008
US Dollar / Imperial
Great Noligwa
1,014
916
452
794
458
1,246
1,084
562
990
557
Kopanang
400
442
310
406
348
560
619
423
586
492
Moab Khotsong
489
478
317
424
379
844
783
520
737
632
Tau Lekoa
732
797
478
718
533
701
818
618
749
658
Surface Operations
459
406
366
341
440
467
426
387
355
469
Mponeng
397
375
222
329
249
479
458
268
399
323
Savuka
4,062
9,847
255
1,115
411
5,231
12,063
452
1,387
518
TauTona
1,443
501
325
561
374
1,997
714
584
801
509
SOUTH AFRICA
569
522
318
466
362
744
676
444
617
480
Navachab
730
615
512
622
534
683
695
584
663
601
SOUTHERN AFRICA
575
525
325
472
367
742
676
449
619
484
Iduapriem
515
493
577
516
525
599
541
645
579
611
Obuasi
567
671
712
630
633
758
824
879
796
834
Siguiri - Attributable 85%
636
500
478
519
466
707
619
556
595
542
Morila - Attributable 40%
656
559
385
527
419
760
603
460
583
495
Sadiola
1
- Attributable 41%
640
532
386
488
399
755
608
583
571
554
Yatela - Attributable 40%
382
219
561
368
572
524
281
529
455
591
Geita
1,055
883
921
954
728
1,212
1,035
1,071
1,121
929
CONTINENTAL AFRICA
665
615
586
608
544
798
715
701
723
678
Sunrise Dam
836
647
486
646
531
932
740
590
751
635
AUSTRALASIA
863
655
511
662
552
962
751
606
770
657
Cerro Vanguardia - Attributable 92.50%
339
336
464
355
608
499
452
573
487
757
AngloGold Ashanti Brasil Mineração
419
333
234
339
300
548
499
363
486
432
Serra Grande - Attributable 50%
337
445
260
406
294
476
589
359
542
394
SOUTH AMERICA
386
349
327
353
402
542
499
445
500
534
Cripple Creek & Victor
420
394
322
376
309
520
491
429
475
413
NORTH AMERICA
424
406
355
385
334
523
503
462
485
438
ANGLOGOLD ASHANTI 598
534
422
514
444
743
667
540
646
567
Rounding of figures may result in computational discrepancies.
Total cash costs - $/oz
Total production costs - $/oz
1
Effective 29 December 2009, AngloGold Ashanti increased its interest in Sadiola from 38% to 41%.
background image
Key
operating results
PER REGION & OPERATION
Quarter
Quarter
Quarter
Year
Year
Quarter
Quarter
Quarter
Year
Year
ended
ended
ended
ended
ended
ended
ended
ended
ended
ended
Dec
Sep
Dec
Dec
Dec
Dec
Sep
Dec
Dec
Dec
2009
2009
2008
2009
2008
2009
2009
2008
2009
2008
Great Noligwa
(8)
(31)
8
(35)
(55)
(8)
(7)
8
(12)
52
Kopanang
46
(22)
24
64
(22)
46
27
24
113
76
Moab Khotsong
13
(25)
12
13
(20)
13
8
12
46
9
Tau Lekoa
10
(15)
2
2
(30)
10
3
2
21
7
Surface Operations
19
(3)
8
67
4
19
21
8
91
21
Mponeng
70
(20)
60
192
87
70
60
60
272
227
Savuka
(8)
(12)
4
(16)
(2)
(8)
(11)
4
(15)
12
TauTona (25)
(33)
7
(24)
(17)
(25)
15
7
23
62
SOUTH AFRICA
118
(161)
126
263
(55)
118
115
126
539
466
Navachab
5
(9)
2
4
(2)
5
3
2
16
7
SOUTHERN AFRICA
123
(170)
128
268
(57)
123
118
128
556
473
Iduapriem
26
(15)
3
36
(21)
26
16
3
67
19
Obuasi
26
(69)
(33)
(34)
(126)
26
8
(33)
44
(61)
Siguiri - Attributable 85%
30
(99)
10
(32)
7
30
26
10
92
55
Morila
1
- Attributable 40%
13
11
11
54
(4)
13
11
11
54
38
Sadiola
1,2
- Attributable 41%
12
10
5
55
(23)
12
10
5
55
27
Yatela
1
- Attributable 40%
17
14
3
47
(7)
17
14
3
47
10
Geita
(13)
(63)
(58)
(100)
(181)
(13)
(8)
(58)
(46)
(119)
Non-controlling interests, exploration and
other
6
6
4
21
21
6
5
4
21
19
CONTINENTAL AFRICA
118
(205)
(55)
47
(334)
118
82
(55)
334
(12)
Sunrise Dam
11
(62)
9
(10)
(61)
11
12
9
64
32
Exploration and other
(3)
(1)
(1)
(7)
(9)
(3)
(1)
(1)
(8)
(9)
AUSTRALASIA
8
(63)
8
(17)
(70)
8
11
8
56
23
Cerro Vanguardia - Attributable 92.50%
19
-
2
48
(30)
19
29
2
76
(12)
AngloGold Ashanti Brasil Mineração
46
(22)
27
88
12
46
41
27
150
94
Serra Grande - Attributable 50%
14
(12)
7
13
9
14
7
7
32
26
Non-controlling interests, exploration and
other
14
9
8
35
28
14
10
8
38
30
SOUTH AMERICA
93
(25)
44
184
19
93
87
44
296
138
Cripple Creek & Victor
28
(15)
20
60
16
28
22
20
97
73
Other
(1)
(1)
(3)
(2)
(6)
(1)
(1)
(3)
(2)
(7)
NORTH AMERICA
27
(15)
17
58
10
27
21
17
95
66
OTHER
11
2
1
28
20
11
2
1
27
5
SUB-TOTAL
380
(475)
143
568
(412)
380
321
143
1,364
693
Less equity accounted investments
(43)
(35)
(18)
(156)
28
(43)
(35)
(18)
(156)
(67)
ANGLOGOLD ASHANTI 337
(510)
125
412
(384)
337
287
125
1,208
626
1
Equity accounted investments.
2
Effective 29 December 2009, AngloGold Ashanti increased its interest in Sadiola from 38% to 41%.
Rounding of figures may result in computational discrepancies.
US Dollar
Gross profit (loss) adjusted for the gain (loss) on unrealised non-hedge
derivatives and other commodity contracts - $m
Adjusted gross profit (loss) excluding hedge buy-back costs - $m
background image
Southern Africa
VAAL RIVER
Quarter
Quarter
Quarter
Year
Year
Quarter
Quarter
Quarter
Year
Year
ended
ended
ended
ended
ended
ended
ended
ended
ended
ended
December
September
December
December
December
December
September
December
December
December
2009
2009
2008
2009
2008
2009
2009
2008
2009
2008
GREAT NOLIGWA
OPERATING RESULTS
UNDERGROUND OPERATION
Area mined
- 000 m
2
/ - 000 ft
2
33
42
58
153
265
360
447
625
1,648
2,849
Milled
- 000 tonnes / - 000 tons
187
237
309
858
1,400
207
261
341
945
1,543
Yield
- g/t
/ - oz/t
5.57
5.46
6.37
5.73
7.33
0.162
0.159
0.186
0.167
0.214
Gold produced
- kg
/ - oz (000)
1,044
1,292
1,969
4,914
10,268
34
42
63
158
330
Gold sold
- kg
/ oz (000)
1,021
1,374
1,967
4,892
10,282
33
44
63
157
331
Total cash costs
- R
/ - $
- ton milled
1,357
1,246
918
1,209
874
165
146
84
133
98
- R/kg
/ - $/oz
- produced
243,647
228,066
144,190
211,048
119,140
1,014
916
452
794
458
Total production costs
- R/kg
/ - $/oz
- produced
299,374
269,935
179,299
264,016
145,120
1,246
1,084
562
990
557
PRODUCTIVITY PER EMPLOYEE
Actual
- g
/ - oz
77
94
125
89
143
2.48
3.03
4.01
2.86
4.60
Actual
- m
2
/ - ft
2
2.48
3.03
3.68
2.77
3.69
26.68
32.65
39.59
29.82
39.70
FINANCIAL RESULTS (MILLION)
Gold income
246
307
433
1,127
1,894
33
40
44
136
234
Cost of sales
307
368
353
1,292
1,491
41
48
36
156
184
Cash operating costs
253
293
282
1,031
1,217
34
38
28
125
150
Other cash costs
2
1
2
6
6
-
-
-
1
1
Total cash costs
254
295
284
1,037
1,223
34
38
29
125
151
Retrenchment costs
13
3
6
24
21
2
-
1
3
3
Rehabilitation and other non-cash costs
(2)
2
(1)
2
(4)
-
-
-
-
-
Production costs
266
300
289
1,063
1,241
36
39
29
129
153
Amortisation of tangible assets
47
49
64
234
249
6
6
6
28
31
Inventory change
(6)
19
-
(6)
1
(1)
3
-
-
-
(61)
(62)
80
(165)
402
(8)
(8)
8
(20)
50
Realised non-hedge derivatives and other commodity contracts
5
(180)
(2)
(105)
(832)
1
(23)
-
(15)
(105)
(56)
(241)
78
(270)
(430)
(8)
(31)
8
(35)
(55)
Add back hedge buy-back costs
-
184
-
184
736
-
23
-
23
93
Add realised loss on other commodity contracts
-
-
-
-
115
-
-
-
-
14
(56)
(57)
78
(86)
421
(8)
(7)
8
(12)
52
Capital expenditure
58
57
54
205
213
8
7
5
24
26
Rounding of figures may result in computational discrepancies.
Rand / Metric
Dollar / Imperial
Gross (loss) profit excluding the effect of unrealised non-hedge
derivatives and other commodity contracts
Adjusted gross (loss) profit excluding hedge buy-back costs
background image
Southern Africa
VAAL RIVER
Quarter
Quarter
Quarter
Year
Year
Quarter
Quarter
Quarter
Year
Year
ended
ended
ended
ended
ended
ended
ended
ended
ended
ended
December
September
December
December
December
December
September
December
December
December
2009
2009
2008
2009
2008
2009
2009
2008
2009
2008
KOPANANG
OPERATING RESULTS
UNDERGROUND OPERATION
Area mined
- 000 m
2
/ - 000 ft
2
104
99
105
376
408
1,115
1,067
1,134
4,049
4,392
Milled
- 000 tonnes / - 000 tons
419
431
417
1,556
1,649
462
475
460
1,715
1,818
Yield
- g/t
/ - oz/t
7.57
6.63
6.78
6.74
6.82
0.221
0.193
0.198
0.197
0.199
Gold produced
- kg
/ - oz (000)
3,177
2,857
2,827
10,481
11,244
102
92
91
336
362
Gold sold
- kg
/ oz (000)
3,108
2,978
2,823
10,413
11,253
100
96
91
335
362
Total cash costs
- R
/ - $
- ton milled
728
731
672
725
624
88
85
61
80
69
- R/kg
/ - $/oz
- produced
96,085
110,280
99,050
107,580
91,516
400
442
310
406
348
Total production costs
- R/kg
/ - $/oz
- produced
134,571
154,448
135,067
155,744
129,241
560
619
423
586
492
PRODUCTIVITY PER EMPLOYEE
Actual
- g
/ - oz
212
191
188
175
188
6.82
6.14
6.06
5.63
6.04
Actual
- m
2
/ - ft
2
6.92
6.62
7.02
6.29
6.81
74.44
71.29
75.57
67.69
73.35
FINANCIAL RESULTS (MILLION)
Gold income
746
666
624
2,401
2,107
100
87
63
295
255
Cost of sales
418
463
381
1,623
1,454
56
60
38
197
178
Cash operating costs
303
313
278
1,120
1,023
41
40
28
136
125
Other cash costs
2
2
2
7
6
-
-
-
1
1
Total cash costs
305
315
280
1,128
1,029
41
41
28
137
126
Retrenchment costs
4
5
5
15
17
1
1
-
2
2
Rehabilitation and other non-cash costs
-
3
(1)
7
1
-
-
-
1
-
Production costs
310
322
284
1,149
1,047
41
42
29
139
128
Amortisation of tangible assets
118
119
98
483
406
16
15
10
58
50
Inventory change
(9)
22
-
(9)
1
(1)
3
-
-
-
328
203
242
777
653
44
27
24
98
77
Realised non-hedge derivatives and other commodity contracts
17
(384)
(3)
(243)
(784)
2
(49)
-
(34)
(99)
345
(180)
240
535
(132)
46
(22)
24
64
(22)
Add back hedge buy-back costs
-
391
-
391
669
-
49
-
49
84
Add realised loss on other commodity contracts
-
-
-
-
107
-
-
-
-
13
345
210
240
926
644
46
27
24
113
76
Capital expenditure
145
123
116
486
391
19
15
12
58
47
Rounding of figures may result in computational discrepancies.
Rand / Metric
Dollar / Imperial
Gross profit (loss) excluding the effect of unrealised non-hedge
derivatives and other commodity contracts
Adjusted gross profit excluding hedge buy-back costs
background image
Southern Africa
VAAL RIVER
Quarter
Quarter
Quarter
Year
Year
Quarter
Quarter
Quarter
Year
Year
ended
ended
ended
ended
ended
ended
ended
ended
ended
ended
December
September
December
December
December
December
September
December
December
December
2009
2009
2008
2009
2008
2009
2009
2008
2009
2008
MOAB KHOTSONG
OPERATING RESULTS
UNDERGROUND OPERATION
Area mined
- 000 m
2
/ - 000 ft
2
38
30
35
123
96
411
319
379
1,327
1,039
Milled
- 000 tonnes / - 000 tons
254
192
243
821
641
280
212
268
905
707
Yield
- g/t
/ - oz/t
8.88
9.99
9.03
9.36
9.31
0.259
0.291
0.263
0.273
0.271
Gold produced
- kg
/ - oz (000)
2,260
1,922
2,194
7,686
5,965
73
62
71
247
192
Gold sold
- kg
/ - oz (000)
2,219
2,021
2,192
7,644
5,966
71
65
70
246
192
Total cash costs
- R
/ - $
- ton milled
1,044
1,190
914
1,046
951
127
139
84
116
103
- R/kg
/ - $/oz
- produced
117,467
119,083
101,180
111,662
102,216
489
478
317
424
379
Total production costs
- R/kg
/ - $/oz
- produced
202,773
195,043
166,260
194,532
170,693
844
783
520
737
632
PRODUCTIVITY PER EMPLOYEE
Actual
- g
/ - oz
193
178
231
180
204
6.19
5.73
7.44
5.79
6.55
Actual
- m
2
/ - ft
2
3.26
2.74
3.72
2.89
3.30
35.06
29.51
40.02
31.11
35.49
FINANCIAL RESULTS (MILLION)
Gold income
529
454
480
1,761
1,118
71
59
48
215
131
Cost of sales
450
397
364
1,487
1,018
60
51
37
182
121
Cash operating costs
264
227
221
852
606
35
29
22
104
72
Other cash costs
2
1
1
6
3
-
-
-
1
-
Total cash costs
266
229
222
858
610
36
30
22
105
73
Retrenchment costs
3
2
1
7
3
-
-
-
1
-
Rehabilitation and other non-cash costs
(6)
3
(8)
-
2
(1)
-
(1)
-
1
Production costs
262
233
214
865
615
35
30
22
105
73
Amortisation of tangible assets
197
141
150
630
403
26
18
15
77
48
Inventory change
(9)
22
-
(9)
-
(1)
3
-
-
-
79
57
116
274
100
11
8
12
33
10
Realised non-hedge derivatives and other commodity contracts
15
(256)
(2)
(138)
(237)
2
(32)
-
(20)
(30)
94
(199)
114
136
(138)
13
(25)
12
13
(20)
Add back hedge buy-back costs
-
259
-
259
201
-
33
-
33
25
Add realised loss on other commodity contracts
-
-
-
-
32
-
-
-
-
4
94
60
114
395
95
13
8
12
46
9
Capital expenditure
244
250
205
874
736
32
31
20
104
89
Rounding of figures may result in computational discrepancies.
Rand / Metric
Dollar / Imperial
Gross profit (loss) excluding the effect of unrealised non-hedge
derivatives and other commodity contracts
Adjusted gross profit excluding hedge buy-back costs
background image
Southern Africa
VAAL RIVER
Quarter
Quarter
Quarter
Year
Year
Quarter
Quarter
Quarter
Year
Year
ended
ended
ended
ended
ended
ended
ended
ended
ended
ended
December
September
December
December
December
December
September
December
December
December
2009
2009
2008
2009
2008
2009
2009
2008
2009
2008
TAU LEKOA
OPERATING RESULTS
UNDERGROUND OPERATION
Area mined
- 000 m
2
/ - 000 ft
2
59
63
57
240
239
639
677
618
2,579
2,573
Milled
- 000 tonnes / - 000 tons
291
303
313
1,159
1,243
321
334
345
1,277
1,370
Yield
- g/t
/ - oz/t
3.59
3.20
3.53
3.32
3.58
0.105
0.093
0.103
0.097
0.104
Gold produced
- kg
/ - oz (000)
1,044
971
1,105
3,852
4,444
34
31
36
124
143
Gold sold
- kg
/ oz (000)
1,021
1,030
1,104
3,829
4,447
33
33
35
123
143
Total cash costs
- R
/ - $
- ton milled
631
637
538
636
502
77
74
49
70
56
- R/kg
/ - $/oz
- produced
175,943
198,952
152,541
191,184
140,368
732
797
478
718
533
Total production costs
- R/kg
/ - $/oz
- produced
168,412
204,095
197,435
201,203
173,780
701
818
618
749
658
PRODUCTIVITY PER EMPLOYEE
Actual
- g
/ - oz
116
107
124
107
127
3.72
3.45
4.00
3.43
4.08
Actual
- m
2
/ - ft
2
6.58
6.95
6.46
6.63
6.82
70.82
74.86
69.58
71.34
73.46
FINANCIAL RESULTS (MILLION)
Gold income
243
227
241
876
834
33
30
24
107
101
Cost of sales
172
210
218
771
773
23
27
22
93
94
Cash operating costs
182
192
168
732
621
24
25
17
88
76
Other cash costs
1
1
1
4
3
-
-
-
-
-
Total cash costs
184
193
169
736
624
25
25
17
89
76
Retrenchment costs
3
2
1
10
6
-
-
-
1
1
Rehabilitation and other non-cash costs
(14)
-
10
(13)
16
(2)
-
1
(2)
2
Production costs
173
195
180
733
646
23
25
18
88
79
Amortisation of tangible assets
3
3
38
42
127
-
-
4
4
15
Inventory change
(4)
12
-
(4)
-
(1)
2
-
-
-
71
17
23
105
61
10
2
2
14
7
Realised non-hedge derivatives and other commodity contracts
7
(140)
(1)
(83)
(292)
1
(18)
-
(12)
(37)
78
(123)
22
22
(230)
10
(15)
2
2
(30)
Add back hedge buy-back costs
-
145
-
145
290
-
18
-
18
37
78
23
22
168
60
10
3
2
21
7
Capital expenditure
41
40
39
142
146
5
5
4
17
18
Rounding of figures may result in computational discrepancies.
Rand / Metric
Dollar / Imperial
Gross profit (loss) excluding the effect of unrealised non-hedge
derivatives and other commodity contracts
Adjusted gross profit excluding hedge buy-back costs
background image
Southern Africa
VAAL RIVER
Quarter
Quarter
Quarter
Year
Year
Quarter
Quarter
Quarter
Year
Year
ended
ended
ended
ended
ended
ended
ended
ended
ended
ended
December
September
December
December
December
December
September
December
December
December
2009
2009
2008
2009
2008
2009
2009
2008
2009
2008
SURFACE OPERATIONS
OPERATING RESULTS
Milled
- 000 tonnes / - 000 tons
2,390
2,358
2,039
9,674
7,922
2,634
2,599
2,248
10,663
8,733
Yield
- g/t
/ - oz/t
0.47
0.52
0.42
0.53
0.36
0.014
0.015
0.012
0.015
0.011
Gold produced
- kg
/ - oz (000)
1,127
1,229
848
5,092
2,864
36
40
27
164
92
Gold sold
- kg
/ - oz (000)
1,102
1,323
847
5,066
2,867
35
43
27
163
92
Total cash costs
- R
/ - $
- ton milled
52
53
49
47
42
6
6
4
5
5
- R/kg
/ - $/oz
- produced
110,207
101,339
116,749
89,867
116,290
459
406
366
341
440
Total production costs
- R/kg
/ - $/oz
- produced
112,168
106,128
123,411
93,700
124,038
467
426
387
355
469
PRODUCTIVITY PER EMPLOYEE
Actual
- g
/ - oz
1,608
1,759
1,157
1,812
1,021
51.69
56.54
37.19
58.27
32.82
FINANCIAL RESULTS (MILLION)
Gold income
260
290
186
1,150
544
35
38
19
139
66
Cost of sales
124
139
105
474
355
17
18
11
58
43
Cash operating costs
124
125
99
458
333
17
16
10
56
40
Other cash costs
-
-
-
-
-
-
-
-
-
-
Total cash costs
124
125
99
458
333
17
16
10
56
40
Retrenchment costs
-
-
-
-
-
-
-
-
-
-
Rehabilitation and other non-cash costs
-
-
-
-
-
-
-
-
-
-
Production costs
124
125
99
458
333
17
16
10
56
40
Amortisation of tangible assets
2
6
6
20
22
-
1
1
2
3
Inventory change
(3)
9
-
(3)
-
-
1
-
-
-
137
151
82
676
189
18
20
8
81
23
Realised non-hedge derivatives and other commodity contracts
8
(183)
(1)
(98)
(146)
1
(23)
-
(14)
(19)
145
(32)
81
578
43
19
(3)
8
67
4
Add back hedge buy-back costs
-
192
-
192
134
-
24
-
24
17
145
160
81
770
177
19
21
8
91
21
Capital expenditure
8
8
1
21
6
1
1
-
3
1
Rounding of figures may result in computational discrepancies.
Rand / Metric
Dollar / Imperial
Gross profit (loss) excluding the effect of unrealised non-hedge
derivatives and other commodity contracts
Adjusted gross profit excluding hedge buy-back costs
background image
Southern Africa
WEST WITS
Quarter
Quarter
Quarter
Year
Year
Quarter
Quarter
Quarter
Year
Year
ended
ended
ended
ended
ended
ended
ended
ended
ended
ended
December
September
December
December
December
December
September
December
December
December
2009
2009
2008
2009
2008
2009
2009
2008
2009
2008
MPONENG
OPERATING RESULTS
UNDERGROUND OPERATION
Area mined
- 000 m
2
/ - 000 ft
2
80
87
90
335
359
866
942
963
3,602
3,859
Milled
- 000 tonnes / - 000 tons
476
477
475
1,866
1,863
525
526
524
2,057
2,054
Yield
- g/t
/ - oz/t
8.27
8.15
9.45
8.66
10.02
0.241
0.238
0.276
0.253
0.292
Gold produced
- kg
/ - oz (000)
3,938
3,892
4,492
16,159
18,672
127
125
144
520
600
Gold sold
- kg
/ - oz (000)
4,029
4,094
4,496
16,163
18,720
130
132
145
520
602
Total cash costs
- R
/ - $
- ton milled
788
761
671
753
655
96
89
61
83
73
- R/kg
/ - $/oz
- produced
95,372
93,380
71,022
86,928
65,365
397
375
222
329
249
Total production costs
- R/kg
/ - $/oz
- produced
115,109
113,899
85,700
105,562
84,523
479
458
268
399
323
PRODUCTIVITY PER EMPLOYEE
Actual
- g
/ - oz
241
237
289
252
296
7.76
7.63
9.31
8.11
9.53
Actual
- m
2
/ - ft
2
4.93
5.34
5.77
5.22
5.69
53.05
57.43
62.09
56.23
61.25
FINANCIAL RESULTS (MILLION)
Gold income
1,157
1,267
954
4,254
3,403
155
165
96
524
414
Cost of sales
464
462
385
1,706
1,582
62
60
39
209
194
Cash operating costs
373
361
317
1,396
1,213
50
47
32
170
148
Other cash costs
3
2
2
9
7
-
-
-
1
1
Total cash costs
376
363
319
1,405
1,221
50
47
32
171
149
Retrenchment costs
2
2
1
7
8
-
-
-
1
1
Rehabilitation costs
(4)
2
6
1
20
(1)
-
1
-
2
Production costs
373
367
327
1,413
1,248
50
47
33
172
153
Amortisation of tangible assets
80
76
58
293
330
11
10
6
36
41
Inventory change
10
19
-
-
4
1
3
-
1
-
694
805
569
2,548
1,820
93
105
57
315
220
Realised non-hedge derivatives and other commodity contracts
(170)
(977)
25
(915)
(1,049)
(23)
(125)
3
(123)
(133)
524
(172)
594
1,633
772
70
(20)
60
192
87
Add back hedge buy-back costs
-
632
-
632
1,116
-
80
-
80
141
524
461
594
2,265
1,887
70
60
60
272
227
Capital expenditure
258
239
228
912
707
34
30
23
109
86
Rounding of figures may result in computational discrepancies.
Rand / Metric
Dollar / Imperial
Gross profit (loss) excluding the effect of unrealised non-hedge
derivatives and other commodity contracts
Adjusted gross profit excluding hedge buy-back costs
background image
Southern Africa
WEST WITS
Quarter
Quarter
Quarter
Year
Year
Quarter
Quarter
Quarter
Year
Year
ended
ended
ended
ended
ended
ended
ended
ended
ended
ended
December
September
December
December
December
December
September
December
December
December
2009
2009
2008
2009
2008
2009
2009
2008
2009
2008
SAVUKA
OPERATING RESULTS
UNDERGROUND OPERATION
Area mined
- 000 m
2
/ - 000 ft
2
3
3
14
36
63
34
28
156
388
675
Milled
- 000 tonnes / - 000 tons
16
13
81
170
328
18
14
90
187
361
Yield
- g/t
/ - oz/t
3.91
2.48
6.96
5.45
6.28
0.114
0.072
0.203
0.159
0.183
Gold produced
- kg
/ - oz (000)
63
31
566
924
2,057
2
1
18
30
66
Gold sold
- kg
/ - oz (000)
64
34
566
925
2,063
2
1
18
30
66
Total cash costs
- R
/ - $
- ton milled
3,817
6,073
566
1,611
670
464
712
52
177
75
- R/kg
/ - $/oz
- produced
975,068
2,448,510
81,339
295,800
106,748
4,062
9,847
255
1,115
411
Total production costs
- R/kg
/ - $/oz
- produced
1,256,025
3,001,824
144,345
367,668
137,104
5,231
12,063
452
1,387
518
PRODUCTIVITY PER EMPLOYEE
Actual
- g
/ - oz
21
11
170
74
158
0.68
0.34
5.48
2.38
5.09
Actual
- m
2
/ - ft
2
1.05
0.86
4.37
2.88
4.83
11.26
9.28
47.01
31.01
51.95
FINANCIAL RESULTS (MILLION)
Gold income
18
11
121
218
375
2
1
12
25
45
Cost of sales
79
95
82
340
283
11
12
8
41
34
Cash operating costs
61
76
46
271
218
8
10
5
33
27
Other cash costs
1
-
-
2
2
-
-
-
-
-
Total cash costs
61
77
46
273
220
8
10
5
33
27
Retrenchment costs
1
-
-
2
2
-
-
-
-
-
Rehabilitation and other non-cash costs
(1)
-
14
-
15
-
-
1
-
1
Production costs
61
77
60
275
236
8
10
6
33
29
Amortisation of tangible assets
18
17
22
65
46
2
2
2
8
5
Inventory change
-
1
-
-
1
-
-
-
-
-
(61)
(84)
39
(122)
92
(8)
(11)
4
(17)
11
Realised non-hedge derivatives and other commodity contracts
(2)
(8)
3
10
(100)
-
(1)
-
1
(13)
(63)
(92)
42
(113)
(8)
(8)
(12)
4
(16)
(2)
Add back hedge buy-back costs
-
5
-
5
112
-
1
-
1
14
(63)
(87)
42
(108)
104
(8)
(11)
4
(15)
12
Capital expenditure
44
12
25
107
89
5
2
2
13
11
Rounding of figures may result in computational discrepancies.
Rand / Metric
Dollar / Imperial
Gross (loss) profit excluding the effect of unrealised non-hedge
derivatives and other commodity contracts
Adjusted gross (loss) profit excluding hedge buy-back costs
background image
Southern Africa
WEST WITS
Quarter
Quarter
Quarter
Year
Year
Quarter
Quarter
Quarter
Year
Year
ended
ended
ended
ended
ended
ended
ended
ended
ended
ended
December
September
December
December
December
December
September
December
December
December
2009
2009
2008
2009
2008
2009
2009
2008
2009
2008
TAUTONA
OPERATING RESULTS
UNDERGROUND OPERATION
Area mined
- 000 m
2
/ - 000 ft
2
13
37
35
120
164
137
397
376
1,290
1,769
Milled
- 000 tonnes / - 000 tons
95
304
254
900
1,106
105
336
280
992
1,220
Yield
- g/t
/ - oz/t
7.11
7.39
8.37
7.29
8.66
0.207
0.216
0.244
0.213
0.253
Gold produced
- kg
/ - oz (000)
679
2,251
2,126
6,561
9,580
22
72
68
211
308
SURFACE AND DUMP RECLAMATION
Treated
- 000 tonnes / - 000 tons
168
133
169
608
493
185
147
186
670
544
Yield
- g/t
/ - oz/t
0.51
0.43
0.34
0.39
0.38
0.015
0.013
0.010
0.011
0.011
Gold produced
- kg
/ - oz (000)
86
58
57
238
189
3
2
2
7
6
TOTAL
Yield
1
- g/t
/ - oz/t
7.11
7.39
8.37
7.29
8.66
0.207
0.216
0.244
0.213
0.253
Gold produced
- kg
/ - oz (000)
765
2,309
2,184
6,800
9,769
25
74
70
218
314
Gold sold
- kg
/ - oz (000)
818
2,403
2,184
6,804
9,800
26
77
70
219
315
Total cash costs
- R
/ - $
- ton milled
1,007
660
536
666
595
122
77
49
73
67
- R/kg
/ - $/oz
- produced
346,655
125,198
103,961
147,668
97,483
1,443
501
325
561
374
Total production costs
- R/kg
/ - $/oz
- produced
479,619
178,428
186,583
210,794
135,160
1,997
714
584
801
509
PRODUCTIVITY PER EMPLOYEE
Actual
- g
/ - oz
64
226
209
161
214
2.06
7.26
6.73
5.14
6.89
Actual
- m
2
/ - ft
2
1.06
3.60
3.34
2.83
3.60
11.45
38.80
36.00
30.46
38.79
FINANCIAL RESULTS (MILLION)
Gold income
270
747
469
1,839
1,794
36
97
47
225
220
Cost of sales
374
430
407
1,434
1,324
50
56
41
175
160
Cash operating costs
263
287
225
998
947
35
37
23
121
117
Other cash costs
2
2
2
6
6
-
-
-
1
1
Total cash costs
265
289
227
1,004
952
35
37
23
122
117
Retrenchment costs
1
2
2
12
16
-
-
-
1
2
Rehabilitation and other non-cash costs
(2)
1
58
1
63
-
-
6
-
6
Production costs
264
293
286
1,017
1,032
35
38
29
124
126
Amortisation of tangible assets
103
119
121
416
289
14
15
12
51
34
Inventory change
7
18
-
1
4
1
3
-
1
-
(104)
318
62
405
470
(14)
41
6
49
59
Realised non-hedge derivatives and other commodity contracts
(82)
(583)
11
(555)
(600)
(11)
(74)
1
(74)
(76)
(186)
(265)
72
(150)
(130)
(25)
(33)
7
(24)
(17)
Add back hedge buy-back costs
-
376
-
376
625
-
47
-
47
79
(186)
112
72
226
495
(25)
15
7
23
62
Capital expenditure
133
135
147
479
491
17
17
15
57
60
1
Total yield excludes the surface and dump reclamation.
Rounding of figures may result in computational discrepancies.
Rand / Metric
Dollar / Imperial
Gross (loss) profit excluding the effect of unrealised non-hedge
derivatives and other commodity contracts
Adjusted gross (loss) profit excluding hedge buy-back costs
background image
Southern Africa
Quarter
Quarter
Quarter
Year
Year
Quarter
Quarter
Quarter
Year
Year
ended
ended
ended
ended
ended
ended
ended
ended
ended
ended
December
September
December
December
December
December
September
December
December
December
2009
2009
2008
2009
2008
2009
2009
2008
2009
2008
NAVACHAB
OPERATING RESULTS
OPEN-PIT OPERATION
Volume mined
- 000 bcm
/ - 000 bcy
794
936
744
3,490
2,956
1,038
1,225
973
4,565
3,867
Mined
- 000 tonnes / - 000 tons
2,147
2,529
1,997
9,417
7,864
2,367
2,788
2,201
10,381
8,669
Treated
- 000 tonnes / - 000 tons
267
317
401
1,278
1,481
294
349
442
1,409
1,633
Stripping ratio
- t (mined total-mined ore) / t mined ore
5.14
6.37
3.84
5.58
5.39
5.14
6.37
3.84
5.58
5.39
Yield
- g/t
/ - oz/t
1.97
1.61
1.53
1.58
1.43
0.058
0.047
0.045
0.046
0.042
Gold produced
- kg
/ - oz (000)
526
509
614
2,014
2,126
17
16
20
65
68
Gold sold
- kg
/ - oz (000)
538
491
643
1,984
2,128
17
16
21
64
68
Total cash costs
- R/kg
/ - $/oz
- produced
175,352
153,760
163,164
165,298
142,795
730
615
512
622
534
Total production costs
- R/kg
/ - $/oz
- produced
163,946
173,607
186,190
177,190
160,623
683
695
584
663
601
PRODUCTIVITY PER EMPLOYEE
Actual
- g
/ - oz
284
287
373
290
368
9.14
9.24
12.00
9.33
11.83
FINANCIAL RESULTS (MILLION)
Gold income
127
111
141
489
327
17
14
14
58
39
Cost of sales
89
85
118
351
339
12
11
12
42
41
Cash operating costs
88
75
95
317
288
12
10
10
38
35
Other cash costs
4
4
5
16
16
1
-
1
2
2
Total cash costs
92
78
100
333
304
12
10
10
40
37
Rehabilitation and other non-cash costs
7
-
5
7
4
1
-
1
1
-
Production costs
100
78
105
340
307
13
10
11
41
37
Amortisation of tangible assets
(13)
10
9
17
34
(2)
1
1
2
4
Inventory change
3
(3)
4
(6)
(2)
-
-
-
(1)
-
39
25
23
138
(12)
5
3
2
16
(2)
Realised non-hedge derivatives and other commodity contracts
-
(95)
-
(95)
-
-
(12)
-
(12)
-
39
(70)
23
43
(12)
5
(9)
2
4
(2)
Add back hedge buy-back costs
-
95
-
95
67
-
12
-
12
8
39
25
23
138
55
5
3
2
16
7
Capital expenditure
21
62
34
164
98
3
8
4
20
12
Rounding of figures may result in computational discrepancies.
Rand / Metric
Dollar / Imperial
Gross profit (loss) excluding the effect of unrealised non-hedge
derivatives and other commodity contracts
Adjusted gross profit excluding hedge buy-back costs
background image
Continental Africa
Quarter
Quarter
Quarter
Year
Year
Quarter
Quarter
Quarter
Year
Year
ended
ended
ended
ended
ended
ended
ended
ended
ended
ended
December
September
December
December
December
December
September
December
December
December
2009
2009
2008
2009
2008
2009
2009
2008
2009
2008
IDUAPRIEM
OPERATING RESULTS
OPEN-PIT OPERATION
Mined
- 000 tonnes / - 000 tons
5,585
7,333
4,997
25,401
17,397
6,157
8,083
5,508
28,000
19,177
Treated
- 000 tonnes / - 000 tons
935
1,042
964
3,440
3,535
1,031
1,148
1,063
3,792
3,897
Stripping ratio
- t (mined total-mined ore) / t mined ore
2.99
6.95
4.15
5.19
3.86
2.99
6.95
4.15
5.19
3.86
Yield
- g/t
/ - oz/t
1.81
1.54
1.83
1.72
1.76
0.053
0.045
0.053
0.050
0.051
Gold in ore
- kg
/ - oz (000)
2,382
1,353
1,189
6,818
5,916
77
43
38
219
190
Gold produced
- kg
/ - oz (000)
1,693
1,608
1,761
5,909
6,221
54
52
57
190
200
Gold sold
- kg
/ - oz (000)
1,718
1,517
1,717
5,921
6,230
55
49
55
190
200
Total cash costs
- R/kg
/ - $/oz
- produced
123,630
123,471
184,109
137,397
141,662
515
493
577
516
525
Total produced costs
- R/kg
/ - $/oz
- produced
143,945
135,470
205,867
154,038
164,300
599
541
645
579
611
PRODUCTIVITY PER EMPLOYEE
Actual
- g
/ - oz
611
578
679
549
600
19.65
18.59
21.83
17.63
19.30
FINANCIAL RESULTS (MILLION)
Gold income
488
297
358
1,371
1,356
65
38
36
169
165
Cost of sales
234
221
352
915
1,007
31
28
36
110
121
Cash operating costs
194
184
306
756
830
26
24
31
91
99
Other cash costs
15
14
18
56
52
2
2
2
7
6
Total cash costs
209
199
324
812
881
28
26
33
98
105
Rehabilitation and other non-cash costs
6
3
(1)
16
3
1
-
-
2
-
Production costs
216
201
323
828
884
29
26
33
100
105
Amortisation of tangible assets
28
16
39
82
138
4
2
4
10
17
Inventory change
(10)
3
(11)
5
(15)
(1)
1
(1)
-
(1)
254
76
6
456
349
34
10
1
59
44
Realised non-hedge derivatives and other commodity contracts
(61)
(199)
20
(161)
(514)
(8)
(25)
2
(23)
(65)
193
(122)
26
295
(165)
26
(15)
3
36
(21)
Add back hedge buy-back costs
-
243
-
243
312
-
31
-
31
39
193
121
26
538
147
26
16
3
67
19
Capital expenditure
94
44
150
235
448
12
6
16
28
54
Rounding of figures may result in computational discrepancies.
Rand / Metric
Dollar / Imperial
Gross profit (loss) excluding the effect of unrealised non-hedge
derivatives and other commodity contracts
Adjusted gross profit excluding hedge buy-back costs
background image
Continental Africa
Quarter
Quarter
Quarter
Year
Year
Quarter
Quarter
Quarter
Year
Year
ended
ended
ended
ended
ended
ended
ended
ended
ended
ended
December
September
December
December
December
December
September
December
December
December
2009
2009
2008
2009
2008
2009
2009
2008
2009
2008
OBUASI
OPERATING RESULTS
UNDERGROUND OPERATION
Mined
- 000 tonnes / - 000 tons
532
433
517
1,979
1,923
587
478
570
2,182
2,119
Treated
- 000 tonnes / - 000 tons
500
459
564
2,066
2,096
551
506
622
2,278
2,311
Yield
- g/t
/ - oz/t
5.52
5.68
4.62
5.18
4.37
0.161
0.166
0.135
0.151
0.127
Gold produced
- kg
/ - oz (000)
2,761
2,606
2,605
10,710
9,151
89
84
84
344
294
SURFACE AND DUMP RECLAMATION
Treated
- 000 tonnes / - 000 tons
511
611
883
2,498
3,455
563
673
974
2,753
3,808
Yield
- g/t
/ - oz/t
0.51
0.39
0.52
0.46
0.57
0.015
0.011
0.015
0.013
0.017
Gold produced
- kg
/ - oz (000)
263
240
457
1,151
1,956
8
8
15
37
63
TOTAL
Yield
1
- g/t
/ - oz/t
5.52
5.68
4.62
5.18
4.37
0.161
0.166
0.135
0.151
0.127
Gold produced
- kg
/ - oz (000)
3,024
2,847
3,062
11,861
11,107
97
92
98
381
357
Gold sold
- kg
/ - oz (000)
3,203
2,850
3,003
12,035
10,974
103
92
97
387
353
Total cash costs
- R/kg
/ - $/oz
- produced
136,172
167,356
227,350
170,861
171,223
567
671
712
630
633
Total production costs
- R/kg
/ - $/oz
- produced
182,052
205,661
280,492
215,305
224,223
758
824
879
796
834
PRODUCTIVITY PER EMPLOYEE
Actual
- g
/ - oz
208
196
218
209
197
6.69
6.29
7.01
6.72
6.34
FINANCIAL RESULTS (MILLION)
Gold income
936
528
611
2,738
2,626
125
67
62
334
321
Cost of sales
594
571
984
2,601
2,591
79
74
99
309
308
Cash operating costs
382
451
666
1,911
1,809
51
58
67
226
215
Other cash costs
29
26
31
116
93
4
3
3
14
11
Total cash costs
412
476
696
2,027
1,902
55
61
70
240
226
Retrenchment costs
1
-
-
20
-
-
-
-
2
-
Rehabilitation and other non-cash costs
27
4
(23)
41
16
4
1
(2)
5
3
Production costs
440
480
673
2,087
1,918
59
62
68
248
229
Amortisation of tangible assets
111
105
186
466
572
15
14
19
56
69
Inventory change
43
(14)
125
47
101
6
(2)
13
6
10
342
(44)
(374)
138
35
46
(6)
(38)
25
13
Realised non-hedge derivatives and other commodity contracts
(148)
(505)
43
(418)
(1,098)
(20)
(63)
4
(58)
(139)
194
(548)
(330)
(281)
(1,063)
26
(69)
(33)
(34)
(126)
Add back hedge buy-back costs
-
612
-
612
513
-
77
-
77
65
194
64
(330)
332
(550)
26
8
(33)
44
(61)
Capital expenditure
220
191
383
788
922
29
24
42
94
112
1
Total yield represents underground operations.
Rounding of figures may result in computational discrepancies.
Rand / Metric
Dollar / Imperial
Gross profit (loss) excluding the effect of unrealised non-hedge
derivatives and other commodity contracts
Adjusted gross profit (loss) excluding hedge buy-back costs
background image
Continental Africa
Quarter
Quarter
Quarter
Year
Year
Quarter
Quarter
Quarter
Year
Year
ended
ended
ended
ended
ended
ended
ended
ended
ended
ended
December
September
December
December
December
December
September
December
December
December
2009
2009
2008
2009
2008
2009
2009
2008
2009
2008
SIGUIRI - Attributable 85%
OPERATING RESULTS
OPEN-PIT OPERATION
Mined
- 000 tonnes / - 000 tons
5,514
4,321
5,887
20,124
24,131
6,079
4,763
6,489
22,183
26,600
Treated
- 000 tonnes / - 000 tons
2,256
2,236
2,303
8,844
8,612
2,486
2,465
2,539
9,748
9,493
Stripping ratio
- t (mined total-mined ore) / t mined ore
0.81
0.92
0.95
1.00
1.13
0.81
0.92
0.95
1.00
1.13
Yield
- g/t
/ - oz/t
1.06
1.10
1.10
1.11
1.20
0.031
0.032
0.032
0.032
0.035
Gold produced
- kg
/ - oz (000)
2,396
2,451
2,533
9,836
10,350
77
79
81
316
333
Gold sold
- kg
/ - oz (000)
2,622
3,069
2,680
9,590
10,469
84
99
86
308
337
Total cash costs
- R/kg
/ - $/oz
- produced
152,730
125,416
152,574
139,036
123,442
636
500
478
519
466
Total production costs
- R/kg
/ - $/oz
- produced
169,839
155,245
177,449
159,275
143,801
707
619
556
595
542
PRODUCTIVITY PER EMPLOYEE
Actual
- g
/ - oz
520
527
637
547
625
16.73
16.93
20.47
17.58
20.09
FINANCIAL RESULTS (MILLION)
Gold income
753
589
561
2,132
2,297
101
75
57
260
282
Cost of sales
417
472
487
1,511
1,514
56
60
49
182
183
Cash operating costs
304
248
329
1,146
1,054
41
32
33
137
127
Other cash costs
62
59
58
222
224
8
8
6
27
28
Total cash costs
366
307
386
1,368
1,278
49
39
39
164
155
Rehabilitation and other non-cash costs
2
30
(11)
41
11
-
4
(1)
5
2
Production costs
368
337
375
1,408
1,289
49
43
38
169
157
Amortisation of tangible assets
39
43
74
158
200
5
6
7
19
24
Inventory change
10
91
37
(56)
26
1
11
4
(6)
3
336
118
74
621
783
45
15
7
78
99
Realised non-hedge derivatives and other commodity contracts
(113)
(907)
29
(845)
(724)
(15)
(114)
3
(111)
(92)
223
(790)
103
(223)
59
30
(99)
10
(32)
7
Add back hedge buy-back costs
-
989
-
989
379
-
125
-
125
48
223
199
103
766
438
30
26
10
92
55
Capital expenditure
53
26
29
187
151
7
4
2
22
18
Rounding of figures may result in computational discrepancies.
Rand / Metric
Dollar / Imperial
Gross profit (loss) excluding the effect of unrealised non-hedge
derivatives and other commodity contracts
Adjusted gross profit excluding hedge buy-back costs
background image
Continental Africa
Quarter
Quarter
Quarter
Year
Year
Quarter
Quarter
Quarter
Year
Year
ended
ended
ended
ended
ended
ended
ended
ended
ended
ended
December
September
December
December
December
December
September
December
December
December
2009
2009
2008
2009
2008
2009
2009
2008
2009
2008
MORILA - Attributable 40%
1
OPERATING RESULTS
OPEN-PIT OPERATION
Volume mined
- 000 bcm
/ - 000 bcy
-
-
608
527
2,890
-
-
795
690
3,781
Mined
- 000 tonnes / - 000 tons
-
-
1,664
1,510
7,952
-
-
1,834
1,664
8,766
Treated
- 000 tonnes / - 000 tons
425
440
440
1,721
1,718
468
485
485
1,897
1,893
Stripping ratio
- t (mined total-mined ore) / t mined ore
-
-
2.97
1.17
3.00
-
-
2.97
1.17
3.00
Yield
- g/t
/ - oz/t
2.25
2.26
3.31
2.47
3.08
0.066
0.066
0.096
0.072
0.090
Gold produced
- kg
/ - oz (000)
957
995
1,456
4,251
5,298
31
32
47
137
170
Gold sold
- kg
/ - oz (000)
1,129
983
1,438
4,341
5,446
36
32
46
140
175
Total cash costs
- R/kg
/ - $/oz
- produced
157,585
139,689
122,592
140,981
111,128
656
559
385
527
419
Total production costs
- R/kg
/ - $/oz
- produced
182,675
150,571
146,612
155,936
131,341
760
603
460
583
495
PRODUCTIVITY PER EMPLOYEE
Actual
- g
/ - oz
1,479
1,554
1,021
1,266
873
47.55
49.98
32.84
40.70
28.05
FINANCIAL RESULTS (MILLION)
Gold income
297
234
321
1,130
690
40
30
32
135
82
Cost of sales
198
148
215
668
710
26
19
22
81
86
Cash operating costs
133
122
152
521
503
18
16
15
63
61
Other cash costs
18
17
26
78
86
2
2
3
9
10
Total cash costs
151
139
179
599
589
20
18
18
72
71
Rehabilitation and other non-cash costs
12
-
(1)
12
(1)
2
-
-
2
-
Production costs
163
139
177
614
588
22
18
18
74
71
Amortisation of tangible assets
12
11
36
49
108
2
1
4
6
13
Inventory change
23
(1)
1
5
14
3
-
-
1
2
99
86
107
462
(20)
13
11
11
54
(4)
Realised non-hedge derivatives and other commodity contracts
-
-
-
-
-
-
-
-
-
-
99
86
107
462
(20)
13
11
11
54
(4)
Add back hedge buy-back costs
-
-
-
-
335
-
-
-
-
42
99
86
107
462
315
13
11
11
54
38
Capital expenditure
1
(1)
5
33
9
-
-
1
4
1
1
Morila is an equity accounted joint venture.
Rounding of figures may result in computational discrepancies.
Rand / Metric
Dollar / Imperial
Gross profit (loss) excluding the effect of unrealised non-hedge
derivatives and other commodity contracts
Adjusted gross profit excluding hedge buy-back costs
background image
Continental Africa
Quarter
Quarter
Quarter
Year
Year
Quarter
Quarter
Quarter
Year
Year
ended
ended
ended
ended
ended
ended
ended
ended
ended
ended
December
September
December
December
December
December
September
December
December
December
2009
2009
2008
2009
2008
2009
2009
2008
2009
2008
SADIOLA - Attributable 41%
1,2
OPERATING RESULTS
OPEN-PIT OPERATION
Volume mined
- 000 bcm
/ - 000 bcy
1,354
1,086
1,251
4,540
4,742
1,771
1,420
1,636
5,939
6,203
Mined
- 000 tonnes / - 000 tons
2,587
2,072
2,447
8,750
9,158
2,852
2,284
2,698
9,645
10,095
Treated
- 000 tonnes / - 000 tons
467
421
428
1,658
1,564
515
464
471
1,828
1,724
Stripping ratio
- t (mined total-mined ore) / t mined ore
7.59
13.42
3.02
5.89
2.95
7.59
13.42
3.02
5.89
2.95
Yield
- g/t
/ - oz/t
2.12
2.33
3.58
2.52
3.42
0.062
0.068
0.104
0.074
0.100
Gold produced
- kg
/ - oz (000)
991
983
1,530
4,187
5,357
32
32
49
135
172
Gold sold
- kg
/ - oz (000)
1,099
894
1,459
4,329
5,418
35
29
47
139
174
Total cash costs
- R/kg
/ - $/oz
- produced
153,896
132,930
123,137
128,920
106,486
640
532
386
488
399
Total production costs
- R/kg
/ - $/oz
- produced
181,463
151,846
186,097
151,233
148,948
755
608
583
571
554
PRODUCTIVITY PER EMPLOYEE
Actual
- g
/ - oz
645
692
1,102
720
931
20.75
22.25
35.44
23.14
29.95
FINANCIAL RESULTS (MILLION)
Gold income
286
213
321
1,120
619
38
27
32
134
73
Cost of sales
194
137
273
650
799
26
18
28
79
96
Cash operating costs
134
114
159
464
482
18
15
16
57
58
Other cash costs
19
16
29
76
88
2
2
3
9
11
Total cash costs
153
131
188
540
570
20
17
19
66
69
Rehabilitation and other non-cash costs
8
-
13
8
9
1
-
1
1
1
Production costs
160
131
202
548
579
21
17
20
67
69
Amortisation of tangible assets
19
19
83
86
219
3
2
8
10
26
Inventory change
14
(12)
(11)
16
1
2
(2)
(1)
2
-
92
76
47
470
(180)
12
10
5
55
(23)
Realised non-hedge derivatives and other commodity contracts
-
-
-
-
-
-
-
-
-
-
92
76
47
470
(180)
12
10
5
55
(23)
Add back hedge buy-back costs
-
-
-
-
402
-
-
-
-
51
92
76
47
470
222
12
10
5
55
27
Capital expenditure
19
6
14
31
27
2
1
2
4
3
1
Sadiola is an equity accounted joint venture.
2
Effective 29 December 2009, AngloGold Ashanti increased its interest in Sadiola from 38% to 41%.
Rounding of figures may result in computational discrepancies.
Rand / Metric
Dollar / Imperial
Gross profit (loss) excluding the effect of unrealised non-hedge
derivatives and other commodity contracts
Adjusted gross profit excluding hedge buy-back costs
background image
Continental Africa
Quarter
Quarter
Quarter
Year
Year
Quarter
Quarter
Quarter
Year
Year
ended
ended
ended
ended
ended
ended
ended
ended
ended
ended
December
September
December
December
December
December
September
December
December
December
2009
2009
2008
2009
2008
2009
2009
2008
2009
2008
YATELA - Attributable 40%
1
OPERATING RESULTS
HEAP LEACH OPERATION
Mined
- 000 tonnes / - 000 tons
410
535
977
2,536
4,061
451
590
1,077
2,795
4,476
Placed
2
- 000 tonnes / - 000 tons
325
220
305
1,099
1,088
358
242
336
1,211
1,200
Stripping ratio
- t (mined total-mined ore) / t mined ore
2.05
8.43
5.15
2.59
7.09
2.05
8.43
5.15
2.59
7.09
Yield
3
- g/t
/ - oz/t
3.91
3.24
2.60
3.62
2.66
0.114
0.095
0.076
0.106
0.078
Gold placed
4
- kg
/ - oz (000)
1,271
713
793
3,981
2,895
41
23
25
128
93
Gold produced
- kg
/ - oz (000)
872
685
503
2,768
2,052
28
22
16
89
66
Gold sold
- kg
/ - oz (000)
931
642
479
2,826
2,050
30
21
15
91
66
Total cash costs
- R/kg
/ - $/oz
- produced
91,723
54,240
178,973
98,617
151,165
382
219
561
368
572
Total production costs
- R/kg
/ - $/oz
- produced
125,839
69,808
168,722
121,069
155,196
524
281
529
455
591
PRODUCTIVITY PER EMPLOYEE
Actual
- g
/ - oz
1,264
984
665
958
618
40.65
31.64
21.38
30.80
19.86
FINANCIAL RESULTS (MILLION)
Gold income
243
153
106
725
259
33
20
11
89
31
Cost of sales
115
44
77
348
312
15
6
8
42
38
Cash operating costs
64
26
80
223
277
9
3
8
27
34
Other cash costs
16
11
10
50
33
2
1
1
6
4
Total cash costs
80
37
90
273
310
11
5
9
33
38
Rehabilitation and other non-cash costs
17
1
(11)
22
(10)
2
-
(1)
3
(1)
Production costs
97
38
79
295
300
13
5
8
36
37
Amortisation of tangible assets
13
10
6
40
18
2
1
1
5
2
Inventory change
5
(4)
(8)
13
(7)
1
(1)
(1)
1
(1)
129
109
29
376
(53)
17
14
3
47
(7)
Realised non-hedge derivatives and other commodity contracts
-
-
-
-
-
-
-
-
-
-
129
109
29
376
(53)
17
14
3
47
(7)
Add back hedge buy-back costs
-
-
-
-
134
-
-
-
-
17
129
109
29
376
81
17
14
3
47
10
Capital expenditure
13
1
11
5
23
2
-
1
1
3
1
Yatela is an equity accounted joint venture.
2
Tonnes / Tons placed on to leach pad.
3
Gold placed / tonnes (tons) placed.
4
Gold placed into leach pad inventory.
Rounding of figures may result in computational discrepancies.
Rand / Metric
Dollar / Imperial
Gross profit (loss) excluding the effect of unrealised non-hedge
derivatives and other commodity contracts
Adjusted gross profit excluding hedge buy-back costs
background image
Continental Africa
Quarter
Quarter
Quarter
Year
Year
Quarter
Quarter
Quarter
Year
Year
ended
ended
ended
ended
ended
ended
ended
ended
ended
ended
December
September
December
December
December
December
September
December
December
December
2009
2009
2008
2009
2008
2009
2009
2008
2009
2008
GEITA
OPERATING RESULTS
OPEN-PIT OPERATION
Volume mined
- 000 bcm
/ - 000 bcy
4,981
4,380
4,934
18,389
19,829
6,515
5,729
6,454
24,053
25,936
Mined
- 000 tonnes / - 000 tons
13,990
11,934
13,728
51,070
52,794
15,422
13,155
15,132
56,295
58,195
Treated
- 000 tonnes / - 000 tons
1,211
1,175
963
4,480
4,270
1,335
1,295
1,061
4,939
4,707
Stripping ratio
- t (mined total-mined ore) / t mined ore
11.08
10.55
12.11
12.07
9.69
11.08
10.55
12.11
12.07
9.69
Yield
- g/t
/ - oz/t
2.09
2.20
1.68
1.89
1.92
0.061
0.064
0.049
0.055
0.056
Gold produced
- kg
/ - oz (000)
2,534
2,586
1,614
8,466
8,203
81
83
52
272
264
Gold sold
- kg
/ - oz (000)
2,713
2,505
1,638
8,449
8,088
87
81
53
272
260
Total cash costs
- R/kg
/ - $/oz
- produced
253,398
220,599
294,552
251,419
193,392
1,055
883
921
954
728
Total production costs
- R/kg
/ - $/oz
- produced
291,177
258,683
342,695
296,126
245,414
1,212
1,035
1,071
1,121
929
PRODUCTIVITY PER EMPLOYEE
Actual
- g
/ - oz
390
409
254
338
329
12.55
13.15
8.16
10.87
10.58
FINANCIAL RESULTS (MILLION)
Gold income
669
569
360
1,580
2,628
90
74
36
203
328
Cost of sales
766
631
930
2,446
2,534
102
81
94
298
301
Cash operating costs
608
541
453
2,021
1,500
81
70
46
246
181
Other cash costs
20
20
13
66
56
3
3
1
8
7
Total cash costs
627
561
466
2,087
1,555
84
72
47
254
188
Rehabilitation and other non-cash costs
12
-
(41)
12
(23)
2
-
(4)
2
(2)
Production costs
639
561
425
2,100
1,533
86
72
43
256
186
Amortisation of tangible assets
84
98
119
366
449
11
13
12
44
55
Inventory change
42
(28)
386
(19)
552
6
(4)
39
(2)
60
(96)
(63)
(570)
(866)
94
(13)
(8)
(58)
(95)
27
Realised non-hedge derivatives and other commodity contracts
-
(436)
-
32
(1,639)
-
(55)
-
(5)
(207)
(96)
(499)
(570)
(833)
(1,545)
(13)
(63)
(58)
(100)
(181)
Add back hedge buy-back costs
-
430
-
430
491
-
54
-
54
62
(96)
(69)
(570)
(403)
(1,054)
(13)
(8)
(58)
(46)
(119)
Capital expenditure
69
34
105
160
433
9
4
10
19
53
Rounding of figures may result in computational discrepancies.
Rand / Metric
Dollar / Imperial
Gross loss excluding the effect of unrealised non-hedge
derivatives and other commodity contracts
Adjusted gross loss excluding hedge buy-back costs
background image
Australasia
Quarter
Quarter
Quarter
Year
Year
Quarter
Quarter
Quarter
Year
Year
ended
ended
ended
ended
ended
ended
ended
ended
ended
ended
December
September
December
December
December
December
September
December
December
December
2009
2009
2008
2009
2008
2009
2009
2008
2009
2008
SUNRISE DAM
OPERATING RESULTS
UNDERGROUND OPERATION
Mined
- 000 tonnes / - ooo tons
195
198
246
780
668
215
219
271
860
736
Treated
- 000 tonnes / - 000 tons
147
197
179
733
513
162
217
197
808
566
Yield
- g/t
/ - oz/t
5.75
4.21
4.11
4.73
4.40
0.168
0.123
0.120
0.138
0.128
Gold produced
- kg
/ - oz (000)
845
831
736
3,464
2,261
27
27
24
111
73
OPEN-PIT OPERATION
Volume mined
- 000 bcm
/ - 000 bcy
1,510
1,322
1,638
5,636
9,146
1,975
1,730
2,142
7,372
11,963
Treated
- 000 tonnes / - 000 tons
820
807
824
3,138
3,239
903
890
908
3,459
3,570
Stripping ratio
- t (mined total-mined ore) / t mined ore
6.86
12.19
(21.82)
13.51
15.28
6.87
12.20
(21.82)
13.51
15.28
Yield
- g/t
/ - oz/t
3.03
2.90
2.33
2.87
3.46
0.088
0.085
0.068
0.084
0.101
Gold produced
- kg
/ - oz (000)
2,487
2,346
1,915
9,013
11,216
80
75
62
290
361
TOTAL
Yield
1
- g/t
/ - oz/t
3.03
2.90
2.33
2.87
3.46
0.088
0.085
0.068
0.084
0.101
Gold produced
- kg
/ - oz (000)
3,331
3,176
2,651
12,477
13,477
107
102
85
401
433
Gold sold
- kg
/ - oz (000)
3,474
2,843
2,734
12,317
13,455
112
91
88
396
433
Total cash costs
- R/kg
/ - $/oz
- produced
200,811
161,239
154,754
171,100
138,295
836
647
486
646
531
Total production costs
- R/kg
/ - $/oz
- produced
223,993
184,234
188,295
199,918
165,643
932
740
590
751
635
PRODUCTIVITY PER EMPLOYEE
Actual
- g
/ - oz
2,330
2,243
2,150
2,287
2,741
74.90
72.12
69.12
73.52
88.12
FINANCIAL RESULTS (MILLION)
Gold income
848
449
937
1,819
2,338
113
58
94
221
280
Cost of sales
772
540
504
2,484
2,226
103
70
51
300
274
Cash operating costs
648
492
394
2,055
1,787
87
63
40
249
220
Other cash costs
21
21
17
80
77
3
3
2
10
9
Total cash costs
669
512
410
2,135
1,864
90
66
41
259
230
Rehabilitation and other non-cash costs
4
10
4
51
10
1
1
-
6
1
Production costs
673
522
415
2,185
1,873
90
67
42
265
231
Amortisation of tangible assets
73
63
85
309
359
10
8
8
37
44
Inventory change
26
(45)
5
(11)
(7)
3
(6)
-
(1)
(1)
75
(92)
433
(665)
112
10
(12)
44
(79)
6
Realised non-hedge derivatives and other commodity contracts
6
(399)
(345)
617
(592)
1
(50)
(35)
69
(66)
81
(491)
88
(48)
(480)
11
(62)
9
(10)
(61)
Add back hedge buy-back costs
-
585
-
585
736
-
74
-
74
93
81
94
88
537
256
11
12
9
64
32
Capital expenditure
57
60
46
259
159
8
8
5
31
19
1
Total yield excludes the underground operations.
Rounding of figures may result in computational discrepancies.
Rand / Metric
Dollar / Imperial
Gross profit (loss) excluding the effect of unrealised non-hedge
derivatives and other commodity contracts
Adjusted gross profit excluding hedge buy-back costs
background image
South America
Quarter
Quarter
Quarter
Year
Year
Quarter
Quarter
Quarter
Year
Year
ended
ended
ended
ended
ended
ended
ended
ended
ended
ended
December
September
December
December
December
December
September
December
December
December
2009
2009
2008
2009
2008
2009
2009
2008
2009
2008
CERRO VANGUARDIA - Atrributable 92.50%
OPERATING RESULTS
OPEN-PIT OPERATION
Mined
- 000 tonnes / - 000 tons
6,044
5,137
5,397
22,077
22,902
6,663
5,662
5,949
24,335
25,245
Treated
- 000 tonnes / - 000 tons
237
237
235
919
883
261
261
260
1,013
973
Stripping ratio
- t (mined total-mined ore) / t mined ore
23.01
18.74
22.72
22.42
27.50
23.01
18.74
22.72
22.42
27.50
Yield
- g/t
/ - oz/t
6.12
6.20
7.44
6.51
5.44
0.178
0.181
0.217
0.190
0.159
Gold in ore
- kg
/ - oz (000)
1,530
1,563
1,822
6,336
5,070
49
50
59
204
163
Gold produced
- kg
/ - oz (000)
1,448
1,469
1,752
5,980
4,799
47
47
56
192
154
Gold sold
- kg
/ - oz (000)
1,175
2,088
1,528
5,991
5,169
38
67
49
193
166
Total cash costs
- R/kg
/ - $/oz
- produced
81,425
84,615
148,071
96,642
162,345
339
336
464
355
608
Total production costs
- R/kg
/ - $/oz
- produced
119,975
113,590
183,107
131,823
202,598
499
452
573
487
757
PRODUCTIVITY PER EMPLOYEE
Actual
- g
/ - oz
690
690
822
710
559
22.18
22.20
26.43
22.83
17.98
FINANCIAL RESULTS (MILLION)
Gold income
282
454
367
1,495
910
38
59
37
182
108
Cost of sales
140
238
313
782
1,002
19
31
31
95
120
Cash operating costs
92
85
229
453
682
12
11
23
53
82
Other cash costs
26
39
30
125
97
4
5
3
15
12
Total cash costs
118
124
259
578
779
16
16
26
68
94
Rehabilitation and other non-cash costs
(1)
-
6
10
54
-
-
1
1
7
Production costs
126
124
265
597
833
17
16
27
71
100
Amortisation of tangible assets
48
43
56
191
139
6
5
6
23
16
Inventory change
(34)
71
(8)
(6)
30
(5)
10
(1)
1
4
142
216
55
713
(93)
19
29
6
88
(13)
Realised non-hedge derivatives and other commodity contracts
-
(222)
(38)
(328)
(139)
-
(28)
(4)
(40)
(17)
142
(6)
17
385
(231)
19
-
2
48
(30)
Add back hedge buy-back costs
-
222
-
222
144
-
28
-
28
18
142
216
17
607
(87)
19
29
2
76
(12)
Capital expenditure
66
48
36
141
125
8
6
4
17
15
Rounding of figures may result in computational discrepancies.
Rand / Metric
Dollar / Imperial
Gross profit (loss) excluding the effect of unrealised non-hedge
derivatives and other commodity contracts
Adjusted gross profit (loss) excluding hedge buy-back costs
background image
South America
Quarter
Quarter
Quarter
Year
Year
Quarter
Quarter
Quarter
Year
Year
ended
ended
ended
ended
ended
ended
ended
ended
ended
ended
December
September
December
December
December
December
September
December
December
December
2009
2009
2008
2009
2008
2009
2009
2008
2009
2008
ANGLOGOLD ASHANTI BRASIL MINERAÇÃO
OPERATING RESULTS
UNDERGROUND OPERATION
Mined
- 000 tonnes / - 000 tons
371
362
304
1,382
1,203
409
399
335
1,523
1,326
Treated
- 000 tonnes / - 000 tons
398
364
305
1,391
1,186
438
402
336
1,534
1,307
Yield
- g/t
/ - oz/t
7.28
7.33
7.77
7.02
7.62
0.212
0.214
0.227
0.205
0.222
Gold produced
- kg
/ - oz (000)
2,895
2,670
2,372
9,770
9,034
93
86
76
314
290
HEAP LEACH OPERATION
Mined
- 000 tonnes / - 000 tons
735
516
1,164
2,682
4,363
810
569
1,283
2,956
4,809
Placed
1
- 000 tonnes / - 000 tons
32
40
46
139
225
36
44
50
153
248
Stripping ratio
- t (mined total-mined ore) / t mined ore
21.82
11.96
25.05
18.35
18.40
21.82
11.96
25.05
18.35
18.40
Yield
2
- g/t
/ - oz/t
3.88
3.36
3.16
3.26
3.63
0.113
0.098
0.092
0.095
0.106
Gold placed
3
- kg
/ - oz (000)
125
134
144
451
816
4
4
5
15
26
Gold produced
- kg
/ - oz (000)
124
136
224
459
926
4
4
7
15
30
TOTAL
Yield
4
- g/t
/ - oz/t
7.28
7.33
7.77
7.02
7.62
0.212
0.214
0.227
0.205
0.222
Gold produced
- kg
/ - oz (000)
3,019
2,806
2,596
10,229
9,960
97
90
83
329
320
Gold sold
- kg
/ - oz (000)
2,906
2,931
2,696
10,117
10,464
93
94
87
325
336
Total cash costs
- R/kg
/ - $/oz
- produced
100,737
82,838
74,764
88,765
78,701
419
333
234
339
300
Total production costs
- R/kg
/ - $/oz
- produced
131,656
123,798
115,725
127,982
113,696
548
499
363
486
432
PRODUCTIVITY PER EMPLOYEE
Actual
- g
/ - oz
531
526
582
481
558
17.09
16.92
18.71
15.45
17.94
FINANCIAL RESULTS (MILLION)
Gold income
694
642
673
2,364
1,673
93
83
68
289
200
Cost of sales
378
342
323
1,265
1,165
51
44
33
154
142
Cash operating costs
296
225
187
880
759
40
29
19
108
93
Other cash costs
9
7
7
28
25
1
1
1
3
3
Total cash costs
304
232
194
908
784
41
30
20
111
96
Rehabilitation and other non-cash costs
6
26
(5)
32
(3)
1
3
-
4
-
Production costs
310
259
189
940
781
42
34
19
116
96
Amortisation of tangible assets
87
89
111
369
351
12
11
11
44
42
Inventory change
(19)
(5)
23
(44)
32
(3)
(1)
2
(6)
4
315
300
350
1,099
509
42
39
35
135
58
Realised non-hedge derivatives and other commodity contracts
26
(479)
(79)
(363)
(380)
3
(60)
(8)
(47)
(46)
341
(179)
271
736
129
46
(22)
27
88
12
Add back hedge buy-back costs
-
495
-
495
647
-
62
-
62
82
341
317
271
1,231
776
46
41
27
150
94
Capital expenditure
218
196
129
705
565
28
24
12
84
69
1
Tonnes / Tons placed onto leach pad.
2
Gold placed / tonnes (tons) placed.
3
Gold placed into leach pad inventory.
4
Total yield represents underground operations.
Rounding of figures may result in computational discrepancies.
Rand / Metric
Dollar / Imperial
Gross profit (loss) excluding the effect of unrealised non-hedge
derivatives and other commodity contracts
Adjusted gross profit excluding hedge buy-back costs
background image
South America
Quarter
Quarter
Quarter
Year
Year
Quarter
Quarter
Quarter
Year
Year
ended
ended
ended
ended
ended
ended
ended
ended
ended
ended
December
September
December
December
December
December
September
December
December
December
2009
2009
2008
2009
2008
2009
2009
2008
2009
2008
SERRA GRANDE - Attributable 50%
OPERATING RESULTS
UNDERGROUND OPERATION
Mined
- 000 tonnes / - 000 tons
141
104
86
439
334
156
114
94
484
368
Treated
- 000 tonnes / - 000 tons
125
111
86
425
310
138
123
95
469
341
Yield
- g/t
/ - oz/t
5.83
4.41
8.00
4.72
7.58
0.170
0.129
0.233
0.138
0.221
Gold produced
- kg
/ - oz (000)
730
491
686
2,010
2,349
23
16
22
65
76
OPEN-PIT OPERATION
Mined
- 000 tonnes / - 000 tons
227
206
218
809
764
251
227
241
892
843
Treated
- 000 tonnes / - 000 tons
29
39
16
104
86
31
43
18
115
95
Stripping ratio
- t (mined total-mined ore) / t mined ore
6.07
5.18
8.11
5.74
6.73
6.07
5.18
8.11
5.74
6.73
Yield
- g/t
/ - oz/t
3.37
3.35
3.92
3.70
4.20
0.098
0.098
0.114
0.108
0.122
Gold in ore
- kg
/ - oz (000)
106
144
71
426
404
3
5
2
14
13
Gold produced
- kg
/ - oz (000)
96
129
64
386
360
3
4
2
12
12
TOTAL
Yield
1
- g/t
/ - oz/t
5.83
4.41
8.00
4.72
7.58
0.170
0.129
0.233
0.138
0.221
Gold produced
- kg
/ - oz (000)
826
621
750
2,396
2,709
27
20
24
77
87
Gold sold
- kg
/ - oz (000)
782
689
676
2,445
2,693
25
22
22
79
87
Total cash costs
- R/kg
/ - $/oz
- produced
81,045
111,359
82,975
107,311
77,872
337
445
260
406
294
Total production costs
- R/kg
/ - $/oz
- produced
114,390
147,349
114,416
142,878
104,690
476
589
359
542
394
PRODUCTIVITY PER EMPLOYEE
Actual
- g
/ - oz
723
571
745
544
716
23.25
18.35
23.95
17.51
23.04
FINANCIAL RESULTS (MILLION)
Gold income
194
154
150
569
450
26
20
15
70
54
Cost of sales
89
98
79
343
280
12
13
8
42
34
Cash operating costs
59
65
58
238
196
8
8
6
29
24
Other cash costs
8
5
4
20
15
1
1
-
2
2
Total cash costs
67
69
62
257
211
9
9
6
31
26
Rehabilitation and other non-cash costs
-
3
-
3
1
-
-
-
-
-
Production costs
67
72
63
261
212
9
9
6
32
26
Amortisation of tangible assets
27
19
23
82
72
4
2
2
10
9
Inventory change
(5)
7
(7)
-
(4)
(1)
1
(1)
-
-
105
56
71
226
170
14
7
7
29
20
Realised non-hedge derivatives and other commodity contracts
-
(148)
(3)
(121)
(91)
-
(19)
-
(16)
(11)
104
(93)
68
105
79
14
(12)
7
13
9
Add back hedge buy-back costs
-
148
-
148
134
-
19
-
19
17
104
55
68
253
213
14
7
7
32
26
Capital expenditure
73
55
66
279
168
10
7
7
33
20
1
Total yield represents underground operations.
Rounding of figures may result in computational discrepancies.
Rand / Metric
Dollar / Imperial
Gross profit (loss) excluding the effect of unrealised non-hedge
derivatives and other commodity contracts
Adjusted gross profit excluding hedge buy-back costs
background image
North America
Quarter
Quarter
Quarter
Year
Year
Quarter
Quarter
Quarter
Year
Year
ended
ended
ended
ended
ended
ended
ended
ended
ended
ended
December
September
December
December
December
December
September
December
December
December
2009
2009
2008
2009
2008
2009
2009
2008
2009
2008
CRIPPLE CREEK & VICTOR
OPERATING RESULTS
HEAP LEACH OPERATION
Mined
- 000 tonnes / - 000 tons
13,335
13,553
11,571
52,238
46,330
14,699
14,940
12,755
57,582
51,071
Placed
1
- 000 tonnes / - 000 tons
4,320
4,150
5,511
18,650
22,149
4,762
4,574
6,075
20,558
24,415
Stripping ratio
- t (mined total-mined ore) / t mined ore
2.09
2.35
1.16
1.79
1.12
2.09
2.35
1.16
1.79
1.12
Yield
2
- g/t
/ - oz/t
0.46
0.44
0.48
0.46
0.49
0.013
0.013
0.014
0.013
0.014
Gold placed
3
- kg
/ - oz (000)
1,984
1,820
2,641
8,526
10,784
64
59
85
274
347
Gold produced
- kg
/ - oz (000)
1,731
1,684
2,422
6,768
8,016
56
54
78
218
258
Gold sold
- kg
/ - oz (000)
1,689
1,676
2,380
6,755
7,972
54
54
77
217
256
Total cash costs
4
- R/kg
/ - $/oz
- produced
100,989
98,114
102,980
100,315
83,448
420
394
322
376
309
Total production costs
- R/kg
/ - $/oz
- produced
124,846
122,291
137,163
127,226
111,667
520
491
429
475
413
PRODUCTIVITY PER EMPLOYEE
Actual
- g
/ - oz
1,548
1,520
2,318
1,538
1,909
49.78
48.87
74.51
49.46
61.39
FINANCIAL RESULTS (MILLION)
Gold income
425
420
531
1,376
1,984
57
54
53
171
240
Cost of sales
216
206
332
861
895
29
27
33
103
106
Cash operating costs
254
277
328
1,173
1,054
34
36
33
140
127
Other cash costs
6
12
1
45
38
1
2
-
5
5
Total cash costs
260
289
329
1,217
1,092
35
37
33
145
132
Rehabilitation and other non-cash costs
(60)
1
29
(59)
67
(8)
-
3
(8)
8
Production costs
200
290
357
1,158
1,158
27
37
36
137
140
Amortisation of tangible assets
41
39
71
183
243
5
5
7
22
30
Inventory change
(24)
(123)
(96)
(480)
(506)
(3)
(16)
(10)
(55)
(63)
209
214
198
515
1,089
28
28
20
67
134
Realised non-hedge derivatives and other commodity contracts
(3)
(335)
(3)
(2)
(934)
-
(43)
-
(7)
(118)
207
(121)
195
513
155
28
(15)
20
60
16
Add back hedge buy-back costs
-
292
-
292
446
-
37
-
37
56
207
170
195
804
601
28
22
20
97
73
Capital expenditure
294
163
36
726
221
37
20
3
87
27
1
Tonnes / Tons placed onto leach pad.
2
Gold placed / tonnes (tons) placed.
3
Gold placed into leach pad inventory.
4
Total cash cost calculation includes inventory change.
Rounding of figures may result in computational discrepancies.
Rand / Metric
Dollar / Imperial
Gross profit (loss) excluding the effect of unrealised non-hedge
derivatives and other commodity contracts
Adjusted gross profit excluding hedge buy-back costs
background image
Shareholders’ notice board
Diary:
Financial year-end
31 December
Annual financial statements
posting on or about
26 March 2010
Annual general meeting
11:00 SA time
7 May 2010
Quarterly reports released:
Quarter ended 31 March 2010
7 May 2010
Quarter ended 30 June 2010
12 August 2010
Quarter ended 30 September 2010
11 November 2010
Quarter ended 31 December 2010
*10 February 2011
Dividends /
Dividend Number
Declared
Last date to trade
ordinary shares
cum dividend
Payment date to
shareholders
Payment date to ADS
holders
Interim – No. 106
29 July 2009
14 August 2009
28 August 2009
8 September 2009
Final – No. 107
16 February 2010
5 March 2010
19 March 2010
29 March 2010
Interim– No. 108
*10 August 2010
*27 August 2010
*10 September 2010
*20 September 2010
* Proposed dates.
Dividend policy: Dividends are proposed by, and approved by the board of directors of AngloGold Ashanti, based on
the interim and year-end financial statements. Dividends are recognised when declared by the board of directors of
AngloGold Ashanti. AngloGold Ashanti expects to continue to pay dividends, although there can be no assurance that
dividends will be paid in the future or as to the particular amounts that will be paid from year to year. The payments of
future dividends will depend upon the Board’s ongoing assessment of AngloGold Ashanti’s earnings, after providing for
long-term growth and cash/debt resources, the amount of reserves available for dividend using going concern
assessment and restrictions placed by the conditions of the convertible bond and other factors.
Withholding tax: On 21 February 2007, the South African Government announced a proposal to replace Secondary
Tax on Companies with a 10% withholding tax on dividends and other distributions payable to shareholders. This
proposal is expected to be implemented in 2010
. Although this may reduce the tax payable by the South African
operations of the group thereby increasing distributable earnings, the withholding tax will generally reduce the amount of
dividends or other distributions received by AngloGold Ashanti shareholders.
Annual general meeting: Shareholders on the South African register who have dematerialised their shares in the
company (other than those shareholders whose shareholding is recorded in their own name in the sub-register
maintained by their CSDP) and who wish to attend the annual general meeting in person, will need to request their
CSDP or broker to provide them with the necessary authority in terms of the custody agreement entered into between
them and the CSDP or broker.
Voting rights: The articles of association provide that every member present at a meeting in person or, in the case of a
body corporate, represented, is entitled to one vote only on a show of hands. Upon a poll, members present or any duly
appointed proxy shall have one vote for every share held. There are no limitations on the right of non-South African
shareholders to hold or exercise voting rights attaching to any shares of the company. CDI holders are not entitled to
vote in person at meetings, but may vote by way of proxy. Options granted in terms of share incentive schemes do not
carry a right to vote.
Change of details: Shareholders are reminded that the onus is on them to keep the company, through its nominated
share registrars, apprised of any change in their postal address and personal particulars. Similarly, where shareholders
receive dividend payments electronically (EFT), they should ensure that the banking details which the share registrars
and/or CSDPs have on file are correct.
background image
Certain statements made in this communication, including, without limitation, those concerning AngloGold Ashanti’s strategy to reduce its gold hedging position including the extent
and effects of the reduction, the economic outlook for the gold mining industry, expectations regarding gold prices, production, cash costs and other operating results, growth
prospects and outlook of AngloGold Ashanti’s operations, individually or in the aggregate, including the completion and commencement of commercial operations of certain of
AngloGold Ashanti’s exploration and production projects and completion of acquisitions and dispositions, AngloGold Ashanti’s liquidity and capital resources, and expenditure and the
outcome and consequences of any pending litigation proceedings, contain certain forward-looking statements regarding AngloGold Ashanti’s operations, economic performance and
financial condition. Although AngloGold Ashanti believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such
expectations will prove to have been correct. Accordingly, results could differ materially from those set out in the forward-looking statements as a result of, among other factors,
changes in economic and market conditions, success of business and operating initiatives, changes in the regulatory environment and other government actions, fluctuations in gold
prices and exchange rates, and business and operational risk management. For a discussion of such factors, refer to AngloGold Ashanti's annual report for the year ended
31 December 2008, which was distributed to shareholders on 27 March 2009 and the company’s annual report on Form 20-F, filed with the Securities and Exchange Commission in
the United States on May 5, 2009 and amended on May 6, 2009. AngloGold Ashanti undertakes no obligation to update publicly or release any revisions to these forward-looking
statements to reflect events or circumstances after today’s date or to reflect the occurrence of unanticipated events. All subsequent written or oral forward-looking statements
attributable to AngloGold Ashanti or any person acting on its behalf are qualified by the cautionary statements herein. AngloGold Ashanti posts information that is important to
investors on the main page of its website at www.anglgoldashanti.com and under the “Investors” tab on the main page. This information is updated regularly. Investors should visit
this website to obtain important information about AngloGold Ashanti.
Administrative
information
A
NGLO
G
OLD
A
SHANTI
L
IMITED
Registration No. 1944/017354/06
Incorporated in the Republic of South Africa
Share codes:
ISIN: ZAE000043485
JSE:
ANG
LSE:
AGD
NYSE:
AU
ASX:
AGG
GhSE (Shares):
AGA
GhSE (GhDS):
AAD
Euronext Paris:
VA
Euronext Brussels:
ANG
JSE Sponsor:
UBS
Auditors:
Ernst & Young Inc
Offices
Registered and Corporate
76 Jeppe Street
Newtown 2001
(PO Box 62117, Marshalltown 2107)
South Africa
Telephone: +27 11 637 6000
Fax: +27 11 637 6624
Australia
Level 13, St Martins Tower
44 St George's Terrace
Perth, WA 6000
(PO Box Z5046, Perth WA 6831)
Australia
Telephone: +61 8 9425 4602
Fax: +61 8 9425 4662
Ghana
Gold House
Patrice Lumumba Road
(PO Box 2665)
Accra
Ghana
Telephone: +233 21 772190
Fax: +233 21 778155
United Kingdom Secretaries
St James's Corporate Services Limited
6 St James's Place
London SW1A 1NP
England
Telephone: +44 20 7499 3916
Fax: +44 20 7491 1989
E-mail: jane.kirton@corpserv.co.uk
Directors
Executive
M Cutifani ~ (Chief Executive Officer)
S Venkatakrishnan * (Chief Financial
Officer)
Non-Executive
R P Edey * (Chairman)
Dr T J Motlatsi (Deputy Chairman)
F B Arisman
#
W A Nairn
Prof W L Nkuhlu
S M Pityana
* British
#
American
~ Australian
South African
Officers
Company Secretary:
Ms L Eatwell
Investor Relations Contacts
South Africa
Sicelo Ntuli
Telephone: +27 11 637 6339
Fax: +27 11 637 6400
E-mail: sntuli@AngloGoldAshanti.com
United States
Stewart Bailey
Telephone: +1-212-836-4303
Mobile: +1-646-717-3978
E-mail: sbailey@AngloGoldAshanti.com
General E-mail enquiries
investors@AngloGoldAshanti.com
AngloGold Ashanti website
http://www.AngloGoldAshanti.com
Company secretarial E-mail
Companysecretary@AngoGoldAshanti.com
AngloGold Ashanti posts information that is
important to investors on the main page of
its website at www.anglogoldashanti.com
and under the “Investors” tab on the main
page. This information is updated regularly.
Investors should visit this website to obtain
important information about AngloGold
Ashanti.
PUBLISHED BY ANGLOGOLD ASHANTI
PRINTED BY INCE (PTY) LIMITED
Share Registrars
South Africa
Computershare Investor Services (Pty)
Limited
Ground Floor, 70 Marshall Street
Johannesburg 2001
(PO Box 61051, Marshalltown 2107)
South Africa
Telephone: 0861 100 950 (in SA)
Fax: +27 11 688 5218
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United Kingdom
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England
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Australia
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Australia
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Fax: +61 8 9323 2033
Ghana
NTHC Limited
Martco House
Off Kwame Nkrumah Avenue
PO Box K1A 9563 Airport
Accra
Ghana
Telephone: +233 21 229664
Fax: +233 21 229975
ADR Depositary
The Bank of New York Mellon ("BoNY")
BNY Shareowner Services
PO Box 358016
Pittsburgh, PA 15252-8016
United States of America
Telephone: +1 800 522 6645 (Toll free
in USA) or +1 201 680 6578 (outside
USA)
E-mail: shrrelations@mellon.com
Website:
www.bnymellon.com.com\shareowner
Global BuyDIRECT
SM
BoNY maintains a direct share purchase
and dividend reinvestment plan for
A
NGLO
G
OLD
A
SHANTI
.
Telephone: +1-888-BNY-ADRS
background image
SIGNATURES


Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


AngloGold Ashanti Limited
Date: February 17, 2010

By:
/s/ L Eatwell
Name: L EATWELL
Title:   Company
Secretary