UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 | ||
☐ | REGISTRATION STATEMENT PURSUANT TO SECTION 12(B) OR 12(G) OF THE SECURITIES EXCHANGE ACT OF 1934 | ||||
OR | |||||
☒ | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 OR | ||||
☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 OR | ||||
☐ | SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 |
E-mail: (Name, Telephone, E-mail and/or Facsimile number and Address of Company Contact Person) | ||
Title of each class | Trading Symbols | Name of each exchange on which registered | ||||||
American Depositary Shares | AU | New York Stock Exchange | ||||||
Ordinary Shares | AU | New York Stock Exchange* | ||||||
AU/ | New York Stock Exchange | |||||||
3.75% Notes due 2030 | AU/30 | New York Stock Exchange | ||||||
6.50% Notes due 2040 | AU/40 | New York Stock Exchange | ||||||
Ordinary Shares of 25 ZAR cents each | |||||
Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. | Yes xNo ☐ | |||||||
If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934. | Yes ☐ No x | |||||||
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. | Yes x No ☐ | |||||||
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). | Yes xNo ☐ | |||||||
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or an emerging growth company. See definition of “large accelerated filer”, “accelerated filer,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. |
Check one: | Large accelerated filer x | Accelerated filer ☐ | Non-accelerated filer ☐ | Emerging growth company ☐ |
If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements. | ☐ | ||||
Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). | ☐ |
Indicate by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing: | U.S. GAAP ☐ |
If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). | Yes ☐ No x |
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Item 18: | F-1 | ||||||||||||||||
Item 19 | E-1 |
2020 notes: The $700 million aggregate principal amount of 5.375 percent notes due 2020, which were repaid at maturity in April 2020 and are no longer outstanding. | ||
2022 notes: The $750 million aggregate principal amount of 5.125 percent notes due 2022, which were repurchased in part in October 2021 with the remainder redeemed in November 2021 and are no longer outstanding. | ||
2028 notes: The $750 million aggregate principal amount of 3.375 percent notes due 2028. | ||
2030 notes: The $700 million aggregate principal amount of 3.750 percent notes due 2030. | ||
2040 notes: The $300 million aggregate principal amount of 6.50 percent notes due 2040. | ||
All-in costs: All-in costs are all-in sustaining costs including additional non-sustaining costs which reflect the varying costs of producing gold over the life-cycle of a mine. Non-sustaining costs are those costs incurred at new operations and costs related to ‘major projects’ at existing operations where these projects will materially increase production. All-in costs per ounce is arrived at by dividing the dollar value of the sum of these cost metrics, by the ounces of gold sold. | ||
All-in sustaining costs (AISC): During June 2013, the World Gold Council (WGC), an industry body, published a Guidance Note (which was updated in November 2018) on the “all-in sustaining costs” metric, which gold mining companies can use to supplement their overall non-GAAP disclosure. “All-in sustaining costs” is an extension of the existing “total cash cost” metric and incorporates all costs related to sustaining production and in particular recognises the sustaining capital expenditure associated with developing and maintaining gold mines. In addition, this metric includes the cost associated with developing and maintaining gold mines, the cost associated with corporate office structures that support these operations, the community and rehabilitation costs attendant with responsible mining and any exploration and evaluation costs associated with sustaining current operations. All-in sustaining costs per ounce is arrived at by dividing the dollar value of the sum of these cost metrics, by the ounces of gold sold. | ||
Average gold price received per ounce: The attributable gold income (price received), divided by attributable ounces of gold sold. | ||
Average number of employees: The monthly average number of production and non-production employees and contractors employed during the year, where contractors are defined as individuals who have entered into a fixed-term contract of employment with a group company or subsidiary. Employee numbers of joint ventures represent the | ||
Capital | ||
Effective tax rate: Current and deferred taxation charge for the year as a percentage of profit before taxation. | ||
Market spot gold price: The price of gold traded at any given moment on the Over-The-Counter (OTC) wholesale market of which the transaction will be settled in two business days’ time. | ||
Non-foreign operation: An entity with a functional currency, the same as the parent company (ZAR), which differs from the | ||
Non-sustaining capital, | ||
Ounces of gold produced: The attributable number of gold ounces produced by the Group. | ||
Ounces of gold sold: The attributable number of gold ounces sold by the Group. | ||
Price received $/oz: The attributable gold income including realised non-hedge derivatives divided by attributable ounces of gold sold. | ||
Rated bonds: The | ||
Region: Defines the operational management divisions within AngloGold Ashanti Limited, namely | ||
Related party: Parties are considered related if one party has the ability to control the other party or exercise significant influence over the other party in making financial and operating decisions or if such parties are under common control. | ||
Significant influence: The ability, directly or indirectly, to participate in, but not exercise control over, the financial and operating policy decision of an entity so as to obtain economic benefit from its activities. | ||
Stay-in-business capital (expenditure): Capital expenditure to extend useful lives of existing production assets. This includes replacement of vehicles, plant and machinery, Mineral Reserve development, deferred stripping and capital expenditure related to financial benefit initiatives, safety, health and the environment. | ||
Strate: The licensed Central Securities Depository (CSD) for the electronic settlement of financial instruments in South Africa. |
Sustaining | ||
Total cash costs | ||
Weighted average number of ordinary shares: The number of ordinary shares in issue at the beginning of the year, increased by shares issued during the year, weighted on a time basis for the period during which they have participated in the income of the |
$, US$, USD, US dollar or dollar | United States dollar | ||||
ARS or Argentinean peso | Argentinean peso | ||||
A$, AUD or Australian dollar | Australian dollar | ||||
BRL or Brazilian real | Brazilian real | ||||
£, GBP or British pound | British pound | ||||
C$, CAD or Canadian dollar | Canadian dollar | ||||
COP or Colombian peso | Colombian peso | ||||
CDF or Congolese franc | Congolese franc | ||||
€ or Euro | European euro | ||||
GHS, Gh¢, Ghanaian cedi or cedi | Ghanaian cedi | ||||
TZS or Tanzanian shilling | Tanzanian shilling | ||||
ZAR, R, South African rand or rand | South African rand | ||||
All injury frequency | ||
By-products: Any potentially economic or saleable products that emanate from the core process of producing gold or copper, including silver, molybdenum and sulphuric acid. | ||
Carbon-in-leach (CIL): Gold is leached from a slurry of ore where cyanide and carbon granules are added to the same agitated tanks. The gold loaded carbon granules are separated from the slurry and treated in an elution circuit to remove the gold. | ||
Carbon-in-pulp (CIP): Gold is leached conventionally from a slurry of ore with cyanide in agitated tanks. The leached slurry then passes into the CIP circuit where activated carbon granules are mixed with the slurry and gold is adsorbed on to the activated carbon. The gold-loaded carbon is separated from the slurry and treated in an elution circuit to remove the gold. | ||
Comminution: Comminution is the crushing and grinding of ore to make gold available for physical or chemical separation (see also “Milling”). | ||
Contained | ||
Cut-off grade: Cut-off grade is the grade (i.e., the concentration of metal or mineral in rock) that determines the destination of the material during mining. For purposes of establishing “prospects of economic extraction,” the cut-off grade is the grade that distinguishes material deemed to have no economic value (it will not be mined in underground mining or if mined in surface mining, its destination will be the waste dump) from material deemed to have economic value (its ultimate destination during mining will be a processing facility). Other terms used in similar fashion as cut-off grade include net smelter return, pay limit, and break-even stripping ratio. | ||
Depletion: The decrease in the quantity of ore in a deposit or property resulting from extraction or production. | ||
Development: The process of accessing an orebody through shafts and/or tunneling in underground mining operations. | ||
Development stage property: A development stage property is a property that has Mineral Reserve disclosed, but no material extraction. | ||
Diorite: An igneous rock formed by the solidification of molten material (magma). | ||
Doré: Impure alloy of gold and silver produced at a mine to be refined to a higher purity. | ||
Economically viable: Economically viable, when used in the context of Mineral Reserve determination, means that the Qualified Person has determined, using a discounted cash flow analysis, or has otherwise analytically determined, that extraction of the Mineral Reserve is economically viable under reasonable investment and market assumptions. | ||
Electrowinning: A process of recovering gold from solution by means of electrolytic chemical reaction into a form that can be smelted easily into gold bars. | ||
Elution: Recovery of the gold from the activated carbon into solution before zinc precipitation or electrowinning. | ||
Exploration results: Exploration results are data and information generated by mineral exploration programs (i.e., programs consisting of sampling, drilling, trenching, analytical testing, assaying, and other similar activities undertaken to locate, investigate, define or delineate a mineral prospect or mineral deposit) that are not part of a disclosure of Mineral Resource or Reserve. A registrant must not use exploration results alone to derive estimates of tonnage, grade, and production rates, or in an assessment of economic viability. | ||
Exploration stage property: An exploration stage property is a property that has no Mineral Reserve disclosed. | ||
Exploration target: An exploration target is a statement or estimate of the exploration potential of a mineral deposit in a defined geological setting where the statement or estimate, quoted as a range of tonnage and a range of grade (or quality), relates to mineralisation for which there has been insufficient exploration to estimate a Mineral Resource. | ||
Feasibility study: A feasibility study is a comprehensive technical and economic study of the selected development option for a mineral project, |
Flotation: Concentration of gold and gold-hosting minerals into a small mass by various techniques (e.g. collectors, frothers, agitation, air-flow) that collectively enhance the buoyancy of the target minerals, relative to unwanted gangue, for recovery into an over-flowing froth phase. | ||
Gold | ||
Grade: The quantity of |
Greenschist: A schistose metamorphic rock whose green colour is due to the presence of chlorite, epidote or actinolite. | ||
Indicated Mineral Resource: An Indicated Mineral Resource is that part of a Mineral Resource for which quantity and grade or quality are estimated on the basis of adequate geological evidence and sampling. The level of geological certainty associated with an Indicated Mineral Resource is sufficient to allow a Qualified Person to apply modifying factors in sufficient detail to support mine planning and evaluation of the economic viability of the deposit. Because an Indicated Mineral Resource has a lower level of confidence than the level of confidence of a Measured Mineral Resource, an Indicated Mineral Resource may only be converted to a Probable Mineral Reserve. | ||
Inferred Mineral Resource: An Inferred Mineral Resource is that part of a Mineral Resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling. The level of geological uncertainty associated with an Inferred Mineral Resource is too high to apply relevant technical and economic factors likely to influence the prospects of economic extraction in a manner useful for evaluation of economic viability. Because an Inferred Mineral Resource has the lowest level of geological confidence of all Mineral Resource, which prevents the application of the modifying factors in a manner useful for evaluation of economic viability, an Inferred Mineral Resource may not be considered when assessing the economic viability of a mining project, and may not be converted to a Mineral Reserve. | ||
Initial assessment (also known as concept study, scoping study, conceptual study and preliminary economic assessment): An initial assessmentis a preliminary technical and economic study of the economic potential of all or parts of mineralisation to support the disclosure of Mineral Resource. The initial assessment must be prepared by a Qualified Person and must include appropriate assessments of reasonably assumed technical and economic factors, together with any other relevant operational factors, that are necessary to demonstrate at the time of reporting that there are reasonable prospects for economic extraction. An initial assessment is required for disclosure of Mineral Resource but cannot be used as the basis for disclosure of Mineral Reserve. | ||
Leaching: Dissolution of gold from crushed or milled material, including reclaimed slime, prior to adsorption on to activated carbon or direct zinc precipitation. | ||
Life of mine (LOM): Number of years for which an operation is planning to mine and treat ore, and is taken from the current mine plan. | ||
Measured Mineral Resource:A Measured Mineral Resource is that part of a Mineral Resource for which quantity and grade or quality are estimated on the basis of conclusive geological evidence and sampling. The level of geological certainty associated with a Measured Mineral Resource is sufficient to allow a Qualified Person to apply modifying factors, as defined in this section, in sufficient detail to support detailed mine planning and final evaluation of the economic viability of the deposit. Because a Measured Mineral Resource has a higher level of confidence than the level of confidence of either an Indicated Mineral Resource or an Inferred Mineral Resource, a Measured Mineral Resource may be converted to a Proven Mineral Reserve or to a Probable Mineral Reserve. | ||
Metallurgical plant: A processing plant constructed to treat ore and extract gold or copper in the case of Quebradona (and, in some cases, | ||
Metallurgical recovery factor (MetRF): A measure of the efficiency in extracting gold from the ore. | ||
Milling: A process of reducing broken ore to a size at which concentrating or leaching can be undertaken (see also “Comminution”). | ||
Mine call | ||
Mineral deposit: A mineral deposit is a concentration (or occurrence) of material of possible economic interest in or on the earth’s crust. | ||
Mineralisation:The process or processes by which a mineral or minerals are introduced into rock, resulting in a potentially valuable deposit. | ||
Mining recovery factor (MRF): This factor reflects a mining efficiency factor relating to the recovery of material during the mining process and is the variance between the tonnes called for in the mining design and what the plant receives. It is expressed in both a grade and tonnage number. |
Mineral Reserve: A Mineral Reserve is an estimate of tonnage and grade or quality of Indicated and Measured Mineral Resource that, in the opinion of the Qualified Person, can be the basis of an economically viable project. More specifically, it is the economically mineable part of a Measured or Indicated Mineral Resource, which includes diluting materials and allowances for losses that may occur when the material is mined or extracted. | ||
Mineral Resource: A Mineral Resource is a concentration or occurrence of | ||
Modifying Factors: Modifying | ||
Ounce (oz) (troy): Used in imperial statistics. A kilogram is equal to 32.1507 ounces. A troy ounce is equal to 31.1035 grams. | ||
Pay limit: The grade of a unit of ore at which the revenue from the recovered mineral content of the ore is equal to the sum of total cash costs, closure costs, | ||
Precipitate:The solid product formed when a change in solution chemical conditions results in conversion of some pre-dissolved ions into solid state. | ||
Preliminary feasibility study (pre-feasibility study): is a comprehensive study of a range of options for the technical and economic viability of a mineral project that has advanced to a stage where a Qualified Person has determined (in the case of underground mining) a preferred mining method, or (in the case of surface mining) a pit configuration, and in all cases has determined an effective method of mineral processing and an effective plan to sell the product. A pre-feasibility study includes a financial analysis based on reasonable assumptions, based on appropriate testing, about the modifying factors and the evaluation of any other relevant factors that are sufficient for a Qualified Person to determine if all or part of the Indicated and Measured Mineral Resource may be converted to Mineral Reserve at the time of reporting. The financial analysis must have the level of detail necessary to demonstrate, at the time of reporting, that extraction is economically viable. A pre-feasibility study is less comprehensive and results in a lower confidence level than a feasibility study. A pre-feasibility study is more comprehensive and results in a higher confidence level than an initial assessment. | ||
Probable | ||
Production stage property: A production stage property is a property with material extraction of Mineral Reserve. | ||
Productivity: An expression of labour productivity based on the ratio of ounces of gold produced per month to the total number of employees in mining operations. | ||
Proven | ||
Qualified Person: A | ||
Quartz: A hard mineral consisting of silica dioxide found widely in all rocks. | ||
Recovered grade: The recovered mineral content per unit of ore treated. | ||
Reef: A gold-bearing horizon, sometimes a conglomerate band, that may contain economic levels of gold. Reef can also be any significant or thick gold bearing quartz vein. | ||
Refining: The final purification process of a metal or mineral. | ||
Regulation S-K 1300: In October 2018, the SEC adopted Subpart 1300 (17 CFR § 229.1300) of Regulation S-K, along with amendments to related rules and guidance, in order to modernise the property disclosure requirements for mining registrants under the Securities Act and the Securities Exchange Act. |
Rehabilitation: The process of reclaiming land disturbed by mining to allow an appropriate post-mining use. Rehabilitation standards are defined by country-specific laws, including but not limited to the | ||
Resource modification factor (RMF): This factor is applied when there is an historic reconciliation discrepancy in the Mineral Resource model (e.g. between the Mineral Resource model tonnage and the grade control model tonnage). It is expressed in both a grade and tonnage number. | ||
Scats: Within the metallurgical plants, scats is a term used to describe ejected ore or other uncrushable / grinding media arising from the milling process. This, typically oversize material (ore), is ejected from the mill and stockpiled or re-crushed via a scats retreatment circuit. Retreatment of scats is aimed at fracturing the material such that it can be returned to the mills and processed as with the other ores to recover the gold locked up within this oversize material. | ||
Seismic event: A sudden inelastic deformation within a given volume of rock that radiates detectable seismic energy. | ||
Shaft: A vertical or subvertical excavation used for accessing an underground mine; for transporting personnel, equipment and supplies; for hoisting ore and waste; for ventilation and utilities; and/or as an auxiliary exit. | ||
Smelting: A pyro-metallurgical operation in which gold precipitate from electro-winning or zinc precipitation is further separated from impurities. | ||
Stoping: The process of excavating ore underground. | ||
Stripping ratio: The ratio of waste tonnes to ore tonnes mined calculated as total tonnes mined less ore tonnes mined divided by ore tonnes mined. | ||
Tailings: Finely ground rock of low residual value from which valuable minerals have been extracted. | ||
Tonnage: Quantity of material measured in | ||
Tonne: Used in metric statistics. Equal to 1,000 kilograms. | ||
Total recordable injury frequency rate (TRIFR): The total number of recordable injuries and fatalities that occurs per million hours worked. | ||
Underground mining: The extraction of rocks, minerals and industrial materials, other than coal, oil and gas, from the earth by developing entries or shafts from the surface to the seam or deposit before recovering the product by underground extraction methods. | ||
Waste: Material that contains insufficient mineralisation for consideration for future treatment and, as such, is discarded. | ||
Yield: The amount of valuable mineral or metal recovered from each unit mass of ore expressed as | ||
Zinc precipitation: Zinc precipitation is the chemical reaction using zinc dust that converts gold in solution to a solid form for smelting into unrefined gold bars. |
%Cu | Percentage copper | ||||
A2X | A2X Markets | ||||
AAIL | AngloGold Ashanti (Iduapriem) Limited | ||||
AARL | Anglo American Research Laboratories | ||||
AC | Aircore drilling | ||||
ADR | American Depositary Receipt | ||||
ADS | American Depositary Share | ||||
AFIP | Argentinean Tax Authority | ||||
Ag | Silver | ||||
AGAC | AngloGold Ashanti Colombia S.A.S. | ||||
AGAG | AngloGold Ashanti (Ghana) Limited | ||||
AGAH | AngloGold Ashanti Holdings plc | ||||
AGM | Annual General Meeting | ||||
AIFR | |||||
AISC | All-in sustaining costs | ||||
ANLA | Colombian National Environmental Licencing Authority | ||||
ANM | Brazilian National Mining Agency | ||||
ASX | Australian Securities Exchange | ||||
Au | |||||
The Australasian Institute of Mining and Metallurgy | |||||
B-BBEE | Broad-Based Black Economic Empowerment | ||||
BBSY | Bank Bill Swap Bid Rate | ||||
BEE | Black Economic Empowerment | ||||
BIF | Banded iron formation | ||||
BIOX | Bacterial oxidation | ||||
BLM | United States Federal Bureau of Land Management | ||||
BMRR | State of Nevada Division of Environmental Protection’s Bureau of Mining Regulation and Reclamation | ||||
bn | Billion | ||||
CCD | Counter Current Decant system in thickeners | ||||
CDI | Chess Depositary Interests | ||||
CdS | Córrego do Sítio | ||||
CEO | Chief Executive Officer | ||||
CFO | Chief Financial Officer | ||||
CHESS | Clearing House Electronic Settlement System | ||||
Carbon-in-leach | |||||
CIP | Carbon-in-pulp | ||||
Coeur Sterling | Coeur Sterling, Inc. | ||||
Corvus Gold | Corvus Gold Inc. | ||||
COSO | Committee of Sponsoring Organisations of the Treadway Commission | ||||
CPI | Consumer Prices index | ||||
CSD | Central Securities Depository | ||||
CTC | Contributed tax capital | ||||
Cu | Copper | ||||
CVSA | Cerro Vanguardia S.A. | ||||
Cyanisorb | Cyanide Recovery Plant | ||||
DD | Diamond drilling | ||||
DEI | Declaration of Environmental Impact | ||||
D&I | Diversity and Inclusion | ||||
DIAN | Colombian Tax Office | ||||
DMRE | South African | ||||
Dodd-Frank Act | United States Dodd-Frank Wall Street Reform and Consumer Protection Act of | ||||
DRC | Democratic Republic of the Congo | ||||
Deferred Share Plan | |||||
EHS | Environmental, health and safety | ||||
EIA | Environmental Impact Assessment | ||||
EPS | Enhanced Production Scheduler | ||||
ERP | Enterprise resource planning |
ESG | Environmental, social and governance | ||||
EU | European Union | ||||
EVP/COO | Executive Vice President/Chief Operating Officer | ||||
Exchange Act | United States Securities Exchange Act of 1934, as amended | ||||
ExCom | Executive Committee | ||||
EY | Ernst & Young Inc. | ||||
E4V | Exploring for value | ||||
FCA | UK Financial Conduct Authority | ||||
FMA | Argentinean Federal Mining Agreement | ||||
FMSHRC | United States Federal Mine Safety and Health Review Commission | ||||
FP | Full Asset Potential Programme | ||||
FS | Feasibility Study | ||||
FTSE | Financial Times Stock Exchange | ||||
FVTOCI | Fair value through other comprehensive income | ||||
FVTPL | Fair value through profit or loss | ||||
G or g | Grams | ||||
g/t | Grams per metric tonne | ||||
GCL | Gramalote Colombia Limited | ||||
GDPR | EU General Data Protection Regulation | ||||
GFW | Galinheiro Footwall | ||||
GGB | Geita Greenstone Belt | ||||
GGM | Geita Gold Mine | ||||
GGML | Geita Gold Mine Limited | ||||
GhDS | Ghanaian Depositary Share | ||||
GHG | Greenhouse gas | ||||
GhSE | Ghana Stock Exchange | ||||
GISTM | Global Industry Standard on Tailings Management | ||||
GJ | Gigajoule | ||||
Gold Fields | Gold Fields Limited | ||||
GRI | Global Reporting Initiative | ||||
GRIDCo | Ghana Grid Company Limited | ||||
HDSA | Historically disadvantaged South Africans | ||||
HME | Heavy mobile equipment | ||||
IASB | International Accounting Standards Board | ||||
ICE | Intercontinental Exchange | ||||
ICMM | International Council on Mining & Metals | ||||
IFRS | International Financial Reporting Standards as issued by the IASB | ||||
IMF | International Monetary Fund | ||||
IRS | United States Internal Revenue Services | ||||
iSIMS | Integrated Sustainability Information Management System | ||||
IT | Information technology | ||||
JORC | Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves | ||||
JSE | JSE Limited (Johannesburg Stock Exchange) | ||||
JV | Joint venture | ||||
Karagba, Chauffeur and Durba | |||||
King IV | The King Report on Corporate Governance for South Africa, 2016 | ||||
Kg or kg | Kilograms | ||||
Km or km | Kilometres | ||||
Km2 | Square kilometres | ||||
Koz | Thousand ounces | ||||
LBMA | London Bullion Market Association | ||||
LHOS | Long Hole Open Stoping | ||||
LIBOR | London Interbank Offer Rate | ||||
LOM | Life of mine | ||||
LOS | Longitudinal Open Stoping | ||||
LRS | Longitudinal Retreat Stoping | ||||
LUC | Localised Uniform Conditioning |
M or m | Metre or million, depending on the context | ||||
Mining and Building Contractors Limited | |||||
MCF | Mine call factor | ||||
MCQ | Minera de Cobre Quebradona S.A.S. B.I.C. | ||||
MEM | Tanzanian Ministry of Minerals | ||||
MetRF | Metallurgical recovery factor | ||||
Mine Act | United States Federal Mine Safety and Health Act of 1977, as amended | ||||
Mlb | Million pounds | ||||
MME | Brazilian Ministry of Mines and Energy | ||||
Mo | Molybdenum | ||||
MoI | Memorandum of Incorporation | ||||
Moz | Million ounces | ||||
MPRDAA | South African Mineral and Petroleum Resources Development Amendment Act, No. 49 of 2008 | ||||
MRF | Mining recovery factor | ||||
mRL | Metres relative level | ||||
MSG | Mineração Serra Grande S.A. | ||||
MSHA | United States Department of Labor's Mine Safety and Health Administration | ||||
MSO | Datamine Mineable Shape Optimiser | ||||
MSR | Minimum Shareholding Requirement | ||||
Mtpa | Million | ||||
NED | Non-Executive Director | ||||
NEMA | South African National Environmental Management Act, No. 107 of 1998, as amended | ||||
NGER | Australian National Greenhouse and Energy Reporting | ||||
NGO | Non-governmental organisation | ||||
NHIL | Ghanaian National Health Insurance Levy | ||||
NIHL | Noise-induced hearing loss | ||||
NSR | Net Smelter Return | ||||
NYSE | New York Stock Exchange | ||||
OLD | Occupational lung diseases | ||||
OTC | Over-The-Counter | ||||
Oz or oz | Ounces (troy) | ||||
oz/t | Ounces per | ||||
PCAOB | United States Public Company Accounting Oversight Board | ||||
PFIC | Passive foreign investment company | ||||
PMMC | Precious Minerals Marketing Company Ltd | ||||
POPIA | South African Protection of Personal Information Act, No. 4 of 2013 | ||||
PTP | Pompora Treatment Plant | ||||
PwC | PricewaterhouseCoopers Inc. | ||||
QKNA | Quantitative Kriging Neighbourhood Analysis | ||||
RC | Reverse circulation | ||||
Remco | Remuneration and Human Resources Committee | ||||
RMF | Resource modification factor | ||||
ROM | Run of mine | ||||
RRSC | Mineral Resource and Mineral Reserve Steering Committee | ||||
S | Sulphur | ||||
SA Companies Act | South African Companies Act, No. 71 of 2008, as amended | ||||
SACNASP | South African Council for Natural Scientific Professions | ||||
SAG | Société AngloGold Ashanti de Guinée S.A. | ||||
SAG mills | Semi-Autogenous Grinding mills | ||||
SA Income Tax Act | South African Income Tax Act, No. 58 of 1962, as amended | ||||
SAMREC | South African Code for the Reporting of Exploration Results, Mineral Resources and Mineral Reserves 2016 edition | ||||
SARB | South African Reserve Bank | ||||
SARS | South African Revenue Service | ||||
SASB | Sustainability Accounting Standards Board | ||||
SCB | Standard Chartered Bank Ghana PLC | ||||
SEC | United States Securities and Exchange Commission |
Securities Act | United States Securities Act of 1933, as amended | ||||
SMS | Short messaging system | ||||
SMU | Selective mining unit | ||||
SOFR | Secured Overnight Financing Rate | ||||
SOKIMO | Société Minière de Kilo-Moto S.A. | ||||
SOX | United States Sarbanes-Oxley Act of 2002, as amended | ||||
STT | Securities transfer tax | ||||
SWNVF | Southwestern Nevada volcanic field | ||||
T or t | |||||
TANESCO | Tanzania Electric Supply Company Limited | ||||
TOS | Transverse Open Stoping | ||||
Tpa or tpa | |||||
TRA | Tanzanian Revenue Authority | ||||
TRIFR | Total recordable injury frequency rate | ||||
TSF | Tailings storage facility | ||||
UC | Uniform Conditioning | ||||
UNCITRAL | United Nations Commission on International Trade Law | ||||
UNECA | United Nations Economic Commission for Africa | ||||
UNGC | United Nations Global Compact | ||||
UNGP | United Nations Guiding Principles for Business and Human Rights | ||||
UNSDGs | United Nations Sustainable Development Goals | ||||
US/U.S./USA/United States | United States of America | ||||
US/SA Double Taxation Treaty | Convention Between the Government of the United States of America and the Republic of South Africa for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income and Capital Gains, signed 17 February 1997 | ||||
UTM | Universal Transverse Mercator | ||||
VAT | Value added tax | ||||
VPSHR | Voluntary Principles on Security and Human Rights | ||||
WGC | World Gold Council | ||||
XBRL | eXtensible Business Reporting Language (including in-line XBRL, i-XBRL) |
Year ended 31 December | |||||||||||||||||||||||||||||
2020 | 2019 | 2018 | 2017 | 2016 (1) | |||||||||||||||||||||||||
$ | $ | $ | $ | $ | |||||||||||||||||||||||||
(in millions, except share and per share amounts) | |||||||||||||||||||||||||||||
Consolidated income statement | |||||||||||||||||||||||||||||
Revenue from product sales | 4,427 | 3,525 | 3,336 | 3,394 | 4,223 | ||||||||||||||||||||||||
Cost of sales | (2,699) | (2,626) | (2,584) | (2,607) | (3,401) | ||||||||||||||||||||||||
Gain (loss) on non-hedge derivatives and other commodity contracts | (19) | 5 | (2) | — | 19 | ||||||||||||||||||||||||
Gross profit | 1,709 | 904 | 750 | 787 | 841 | ||||||||||||||||||||||||
Corporate administration, marketing and other expenses | (68) | (82) | (76) | (64) | (61) | ||||||||||||||||||||||||
Exploration and evaluation costs | (124) | (112) | (98) | (105) | (133) | ||||||||||||||||||||||||
Impairment, derecognition of assets and p/l on disposal | (1) | (6) | (7) | (2) | — | ||||||||||||||||||||||||
Other expenses (income) | (57) | (83) | (79) | (150) | — | ||||||||||||||||||||||||
Other operating expenses | — | — | — | — | (110) | ||||||||||||||||||||||||
Special items | — | — | — | — | (42) | ||||||||||||||||||||||||
Operating profit (loss) | 1,459 | 621 | 490 | 466 | 495 | ||||||||||||||||||||||||
Dividends received | 2 | — | 2 | — | — | ||||||||||||||||||||||||
Interest income | 27 | 14 | 8 | 8 | 22 | ||||||||||||||||||||||||
Foreign exchange and other gains (losses) | — | (12) | (9) | (11) | (88) | ||||||||||||||||||||||||
Finance costs and unwinding of obligations | (177) | (172) | (168) | (157) | (180) | ||||||||||||||||||||||||
Fair value adjustments | — | — | — | — | 9 | ||||||||||||||||||||||||
Share of associates and joint ventures’ profit (loss) | 278 | 168 | 122 | 22 | 11 | ||||||||||||||||||||||||
Profit (loss) before taxation | 1,589 | 619 | 445 | 328 | 269 | ||||||||||||||||||||||||
Taxation | (625) | (250) | (212) | (163) | (189) | ||||||||||||||||||||||||
Profit (loss) after taxation from continuing operations | 964 | 369 | 233 | 165 | 80 | ||||||||||||||||||||||||
Discontinued operations | |||||||||||||||||||||||||||||
Profit (loss) from discontinued operations | 7 | (376) | (83) | (336) | |||||||||||||||||||||||||
Profit (loss) for the year | 971 | (7) | 150 | (171) | 80 | ||||||||||||||||||||||||
Allocated as follows | |||||||||||||||||||||||||||||
Equity shareholders | |||||||||||||||||||||||||||||
- Continuing operations | 946 | 364 | 216 | 145 | 63 | ||||||||||||||||||||||||
- Discontinued operations | 7 | (376) | (83) | (336) | — | ||||||||||||||||||||||||
Non-controlling interests | |||||||||||||||||||||||||||||
- Continuing operations | 18 | 5 | 17 | 20 | 17 | ||||||||||||||||||||||||
971 | (7) | 150 | (171) | 80 | |||||||||||||||||||||||||
Basic earnings (loss) per ordinary share (U.S. cents) | 227 | (3) | 32 | (46) | 15 | ||||||||||||||||||||||||
Earnings (loss) per ordinary share from continuing operations | 225 | 87 | 52 | 35 | 15 | ||||||||||||||||||||||||
Earnings (loss) per ordinary share from discontinued operations | 2 | (90) | (20) | (81) | — | ||||||||||||||||||||||||
Diluted earnings (loss) per ordinary share (U.S. cents) | 227 | (3) | 32 | (46) | 15 | ||||||||||||||||||||||||
Earnings (loss) per ordinary share from continuing operations | 225 | 87 | 52 | 35 | 15 | ||||||||||||||||||||||||
Earnings (loss) per ordinary share from discontinued operations | 2 | (90) | (20) | (81) | — | ||||||||||||||||||||||||
Dividend per ordinary share (U.S. cents) | 9 | 7 | 6 | 10 | — |
As at 31 December | |||||||||||||||||||||||||||||
2020 | 2019 | 2018 | 2017 | 2016 | |||||||||||||||||||||||||
$ | $ | $ | $ | $ | |||||||||||||||||||||||||
(in millions, except share and per share amounts) | |||||||||||||||||||||||||||||
Consolidated balance sheet data | |||||||||||||||||||||||||||||
ASSETS | |||||||||||||||||||||||||||||
Non-current assets | |||||||||||||||||||||||||||||
Tangible assets | 2,884 | 2,592 | 3,381 | 3,742 | 4,111 | ||||||||||||||||||||||||
Right of use assets | 142 | 158 | — | — | — | ||||||||||||||||||||||||
Intangible assets | 131 | 123 | 123 | 138 | 145 | ||||||||||||||||||||||||
Investments in associates and joint ventures | 1,651 | 1,581 | 1,528 | 1,507 | 1,448 | ||||||||||||||||||||||||
Other investments | 188 | 76 | 141 | 131 | 125 | ||||||||||||||||||||||||
Inventories | 69 | 93 | 106 | 100 | 84 | ||||||||||||||||||||||||
Trade, other receivables and other assets | 235 | 122 | 102 | 67 | 34 | ||||||||||||||||||||||||
Deferred taxation | 7 | 105 | — | 4 | 4 | ||||||||||||||||||||||||
Cash restricted for use | 31 | 31 | 35 | 37 | 36 | ||||||||||||||||||||||||
5,338 | 4,881 | 5,416 | 5,726 | 5,987 | |||||||||||||||||||||||||
Current assets | |||||||||||||||||||||||||||||
Other investments | — | 10 | 6 | 7 | 5 | ||||||||||||||||||||||||
Inventories | 733 | 632 | 652 | 683 | 672 | ||||||||||||||||||||||||
Trade, other receivables and other assets | 229 | 250 | 209 | 222 | 255 | ||||||||||||||||||||||||
Cash restricted for use | 42 | 33 | 31 | 28 | 19 | ||||||||||||||||||||||||
Cash and cash equivalents | 1,330 | 456 | 329 | 205 | 215 | ||||||||||||||||||||||||
2,334 | 1,381 | 1,227 | 1,145 | 1,166 | |||||||||||||||||||||||||
Assets held for sale | — | 601 | — | 348 | — | ||||||||||||||||||||||||
2,334 | 1,982 | 1,227 | 1,493 | 1,166 | |||||||||||||||||||||||||
Total assets | 7,672 | 6,863 | 6,643 | 7,219 | 7,153 | ||||||||||||||||||||||||
EQUITY AND LIABILITIES | |||||||||||||||||||||||||||||
Share capital and premium | 7,214 | 7,199 | 7,171 | 7,134 | 7,108 | ||||||||||||||||||||||||
Accumulated losses and other reserves | (3,519) | (4,559) | (4,519) | (4,471) | (4,393) | ||||||||||||||||||||||||
Shareholders’ equity | 3,695 | 2,640 | 2,652 | 2,663 | 2,715 | ||||||||||||||||||||||||
Non-controlling interests | 45 | 36 | 42 | 41 | 39 | ||||||||||||||||||||||||
Total equity | 3,740 | 2,676 | 2,694 | 2,704 | 2,754 | ||||||||||||||||||||||||
Non-current liabilities | |||||||||||||||||||||||||||||
Borrowings | 1,789 | 1,299 | 1,911 | 2,230 | 2,144 | ||||||||||||||||||||||||
Lease liabilities | 116 | 126 | — | — | — | ||||||||||||||||||||||||
Environmental rehabilitation and other provisions | 731 | 697 | 827 | 942 | 877 | ||||||||||||||||||||||||
Provision for pension and post-retirement benefits | 83 | 100 | 100 | 122 | 118 | ||||||||||||||||||||||||
Trade, other payables and provisions | 8 | 15 | 3 | 3 | 4 | ||||||||||||||||||||||||
Deferred taxation | 246 | 241 | 315 | 363 | 496 | ||||||||||||||||||||||||
2,973 | 2,478 | 3,156 | 3,660 | 3,639 | |||||||||||||||||||||||||
Current liabilities | |||||||||||||||||||||||||||||
Borrowings | 142 | 734 | 139 | 38 | 34 | ||||||||||||||||||||||||
Lease liabilities | 37 | 45 | — | — | — | ||||||||||||||||||||||||
Trade, other payables and provisions | 627 | 586 | 594 | 638 | 615 | ||||||||||||||||||||||||
Taxation | 153 | 72 | 60 | 53 | 111 | ||||||||||||||||||||||||
959 | 1,437 | 793 | 729 | 760 | |||||||||||||||||||||||||
Liabilities held for sale | — | 272 | — | 126 | — | ||||||||||||||||||||||||
959 | 1,709 | 793 | 855 | 760 | |||||||||||||||||||||||||
Total liabilities | 3,932 | 4,187 | 3,949 | 4,515 | 4,399 | ||||||||||||||||||||||||
Total equity and liabilities | 7,672 | 6,863 | 6,643 | 7,219 | 7,153 | ||||||||||||||||||||||||
Number of ordinary shares as adjusted to reflect changes in share capital | 416,890,087 | 415,301,215 | 412,769,980 | 410,054,615 | 408,223,760 | ||||||||||||||||||||||||
Share capital (exclusive of long-term debt and redeemable preference shares) | 17 | 17 | 16 | 16 | 16 | ||||||||||||||||||||||||
Net assets | 3,740 | 2,676 | 2,694 | 2,704 | 2,754 |
Year ended 31 December (1)(2) | 2020 | 2019 | 2018 | 2017 | 2016 | ||||||||||||||||||||||||
South African cents per ordinary share | 165 | 95 | 70 | 130 | — | ||||||||||||||||||||||||
US cents per ordinary share(3) | 9 | 7 | 6 | 10 | — |
AMERICAS | AFRICA REGION | AUSTRALIA | |||||||||||||||
1 | Argentina | 4 | Guinea | 8 | Australia | ||||||||||||
Cerro Vanguardia (92.5%) | Siguiri (85%) | Sunrise Dam | |||||||||||||||
2 | Brazil | 5 | Ghana | Tropicana (70%) | |||||||||||||
Serra Grande | Iduapriem | ||||||||||||||||
AGA Mineração | Obuasi(4) | ||||||||||||||||
3 | Colombia | 6 | DRC | ||||||||||||||
Gramalote (50%)(1) | Kibali (45%)(5) | ||||||||||||||||
La Colosa | 7 | Tanzania | |||||||||||||||
Quebradona | Geita | ||||||||||||||||
United States (exploration) | |||||||||||||||||
Attributable gold production (000oz) | Average number of employees | ||||||||||
Subsidiary operations | |||||||||||
Ghana | |||||||||||
Iduapriem | 275 | 1,774 | |||||||||
Obuasi | 30 | 4,210 | |||||||||
Guinea | |||||||||||
Attr. Siguiri 85% | 215 | 3,016 | |||||||||
Tanzania | |||||||||||
Geita | 623 | 5,496 | |||||||||
Joint venture operations | |||||||||||
Democratic Republic of the Congo | |||||||||||
Attr. Kibali 45% | 364 | 2,333 | |||||||||
Unit | 2020 | 2019 | 2018 | ||||||||||||||||||||
Subsidiary operations | |||||||||||||||||||||||
Tonnes treated/milled | Mt | 20.1 | 19.1 | 19.5 | |||||||||||||||||||
Pay limit | oz/t | 0.034 | 0.039 | 0.040 | |||||||||||||||||||
g/t | 1.160 | 1.330 | 1.372 | ||||||||||||||||||||
Recovered grade | oz/t | 0.052 | 0.060 | 0.049 | |||||||||||||||||||
g/t | 1.77 | 1.77 | 1.69 | ||||||||||||||||||||
Gold production (attributable) | 000oz | 1,143 | 1,094 | 1,060 | |||||||||||||||||||
Cost of sales | $m | 1,232 | 1,173 | 1,127 | |||||||||||||||||||
Total cash costs (1) | $/oz | 797 | 801 | 813 | |||||||||||||||||||
All-in sustaining costs (1) | $/oz | 975 | 947 | 941 | |||||||||||||||||||
Capital expenditure | $m | 345 | 359 | 246 | |||||||||||||||||||
Safety | |||||||||||||||||||||||
Number of fatalities | 2 | 0 | 0 | ||||||||||||||||||||
AIFR | Per million hours worked | 0.55 | 0.62 | 0.51 | |||||||||||||||||||
People | |||||||||||||||||||||||
Average no of employees: Total | 14,496 | 12,847 | 11,490 | ||||||||||||||||||||
Permanent employees | 5,433 | 4,939 | 4,625 | ||||||||||||||||||||
Contractors | 9,063 | 7,908 | 6,865 |
Unit | 2020 | 2019 | 2018 | ||||||||||||||||||||
Joint venture operations | |||||||||||||||||||||||
Tonnes treated/milled | Mt | 3.4 | 7.5 | 7.8 | |||||||||||||||||||
Pay limit | oz/t | 0.048 | 0.037 | 0.041 | |||||||||||||||||||
g/t | 1.640 | 1.255 | 1.403 | ||||||||||||||||||||
Recovered grade | oz/t | 0.096 | 0.060 | 0.053 | |||||||||||||||||||
g/t | 3.29 | 1.85 | 1.81 | ||||||||||||||||||||
Gold production (attributable) | 000oz | 364 | 445 | 452 | |||||||||||||||||||
Cost of sales | $m | 340 | 428 | 480 | |||||||||||||||||||
Total cash costs (1) | $/oz | 629 | 657 | 680 | |||||||||||||||||||
All-in sustaining costs (1) | $/oz | 810 | 767 | 820 | |||||||||||||||||||
Capital expenditure | $m | 52 | 51 | 67 | |||||||||||||||||||
Safety | |||||||||||||||||||||||
Number of fatalities(2) | n/a | 0 | 0 | ||||||||||||||||||||
AIFR (2) | Per million hours worked | n/a | 0.65 | 0.29 | |||||||||||||||||||
People | |||||||||||||||||||||||
Average no of employees: Total | 2,333 | 2,939 | 3,343 | ||||||||||||||||||||
Permanent employees | 824 | 1,192 | 1,072 | ||||||||||||||||||||
Contractors | 1,509 | 1,747 | 2,271 |
Attributable gold production (000oz) | Average number of employees | ||||||||||
Operations | |||||||||||
1. Argentina | |||||||||||
Cerro Vanguardia (Attr. 92.5%) | 173 | 1,566 | |||||||||
2. Brazil | |||||||||||
AGA Mineração | 362 | 5,528 | |||||||||
Serra Grande | 114 | 1,695 |
Unit | 2020 | 2019 | 2018 | ||||||||||||||||||||
Operation | |||||||||||||||||||||||
Tonnes treated/milled | Mt | 7.5 | 7.2 | 6.8 | |||||||||||||||||||
Pay limit | oz/t | 0.07 | 0.11 | 0.12 | |||||||||||||||||||
g/t | 2.46 | 3.79 | 4.14 | ||||||||||||||||||||
Recovered grade | oz/t | 0.081 | 0.089 | 0.103 | |||||||||||||||||||
g/t | 2.77 | 3.04 | 3.55 | ||||||||||||||||||||
Gold production (Attributable) | 000oz | 649 | 710 | 776 | |||||||||||||||||||
Silver (attributable) | Moz | 3.3 | 3.4 | 5.9 | |||||||||||||||||||
Cost of sales | $m | 764 | 822 | 838 | |||||||||||||||||||
Total cash costs (1) | $/oz | 721 | 736 | 624 | |||||||||||||||||||
All-in sustaining costs (1) | $/oz | 1,003 | 1,032 | 855 | |||||||||||||||||||
Capital expenditure (2) | $m | 217 | 195 | 176 | |||||||||||||||||||
Safety | |||||||||||||||||||||||
Number of fatalities | 0 | 0 | 1 | ||||||||||||||||||||
AIFR | Per million hours worked | 3.68 | 3.50 | 3.97 | |||||||||||||||||||
People | |||||||||||||||||||||||
Average no of employees: Total | 8,789 | 8,114 | 7,973 | ||||||||||||||||||||
Permanent employees | 6,158 | 5,869 | 5,755 | ||||||||||||||||||||
Contractors | 2,631 | 2,245 | 2,218 |
Attributable gold production (000oz) | Average number of employees | ||||||||||
Operations | |||||||||||
Australia | |||||||||||
1. Sunrise Dam | 256 | 622 | |||||||||
2. Tropicana 70% | 298 | 608 |
Unit | 2020 | 2019 | 2018 | ||||||||||||||||||||
Operation | |||||||||||||||||||||||
Tonnes treated/milled | Mt | 10.2 | 10.1 | 9.5 | |||||||||||||||||||
Pay limit | oz/t | 0.06 | 0.06 | 0.07 | |||||||||||||||||||
g/t | 1.95 | 1.95 | 2.10 | ||||||||||||||||||||
Recovered grade | oz/t | 0.054 | 0.060 | 0.065 | |||||||||||||||||||
g/t | 1.69 | 1.87 | 2.01 | ||||||||||||||||||||
Gold production (attributable) | 000oz | 554 | 614 | 625 | |||||||||||||||||||
Cost of sales | $m | 705 | 632 | 622 | |||||||||||||||||||
Total cash costs (1) | $/oz | 968 | 730 | 762 | |||||||||||||||||||
All-in sustaining costs (1) | $/oz | 1,225 | 990 | 1,038 | |||||||||||||||||||
Capital expenditure | $m | 143 | 149 | 156 | |||||||||||||||||||
Safety | |||||||||||||||||||||||
Number of fatalities | 0 | 0 | 0 | ||||||||||||||||||||
AIFR | Per million hours worked | 3.74 | 7.33 | 9.14 | |||||||||||||||||||
People | |||||||||||||||||||||||
Average no of employees: Total | 1,230 | 1,140 | 1,051 | ||||||||||||||||||||
Permanent employees | 259 | 249 | 238 | ||||||||||||||||||||
Contractors | 971 | 891 | 813 |
Attributable gold production (000oz) | Average number of employees | ||||||||||
Subsidiary operations | |||||||||||
Ghana | |||||||||||
Iduapriem | 248 | 2,186 | |||||||||
Obuasi | 250 | 4,403 | |||||||||
Guinea | |||||||||||
Attr. Siguiri 85% | 279 | 4,052 | |||||||||
Tanzania | |||||||||||
Geita | 521 | 6,435 | |||||||||
Joint venture operations | |||||||||||
Democratic Republic of the Congo | |||||||||||
Attr. Kibali 45% | 337 | 2,731 | |||||||||
Unit | 2022 | 2021 | 2020 | ||||||||||||||||||||
Restated | |||||||||||||||||||||||
Subsidiary operations | |||||||||||||||||||||||
Tonnes treated/milled | Mt | 21.6 | 21.2 | 20.5 | |||||||||||||||||||
Pay limit | oz/t | 0.044 | 0.035 | 0.034 | |||||||||||||||||||
g/t | 1.516 | 1.193 | 1.160 | ||||||||||||||||||||
Recovered grade | oz/t | 0.054 | 0.045 | 0.052 | |||||||||||||||||||
g/t | 1.86 | 1.54 | 1.77 | ||||||||||||||||||||
Gold production (a) (attributable) | 000oz | 1,298 | 1,054 | 1,239 | |||||||||||||||||||
Cost of sales | $m | 1,662 | 1,300 | 1,362 | |||||||||||||||||||
Total cash costs per ounce (1) | $/oz | 1,023 | 991 | 841 | |||||||||||||||||||
All-in sustaining costs per ounce(1) | $/oz | 1,291 | 1,264 | 1,002 | |||||||||||||||||||
Capital expenditure | $m | 486 | 434 | 383 | |||||||||||||||||||
Safety | |||||||||||||||||||||||
Number of fatalities | 0 | 1 | 2 | ||||||||||||||||||||
TRIFR | Per million hours worked | 0.33 | 0.61 | 0.55 | |||||||||||||||||||
People | |||||||||||||||||||||||
Average no of employees: Total | 17,076 | 14,806 | 14,496 | ||||||||||||||||||||
Permanent employees | 5,780 | 5,619 | 5,433 | ||||||||||||||||||||
Contractors | 11,296 | 9,187 | 9,063 |
Unit | 2022 | 2021 | 2020 | ||||||||||||||||||||
Joint venture operations | |||||||||||||||||||||||
Tonnes treated/milled | Mt | 3.5 | 3.5 | 3.4 | |||||||||||||||||||
Pay limit | oz/t | 0.054 | 0.048 | 0.048 | |||||||||||||||||||
g/t | 1.850 | 1.652 | 1.640 | ||||||||||||||||||||
Recovered grade | oz/t | 0.087 | 0.095 | 0.096 | |||||||||||||||||||
g/t | 2.98 | 3.25 | 3.29 | ||||||||||||||||||||
Gold production (attributable) | 000oz | 337 | 365 | 364 | |||||||||||||||||||
Cost of sales | $m | 342 | 350 | 340 | |||||||||||||||||||
Total cash costs per ounce (1) | $/oz | 725 | 647 | 629 | |||||||||||||||||||
All-in sustaining costs per ounce(1) | $/oz | 979 | 856 | 810 | |||||||||||||||||||
Capital expenditure | $m | 90 | 72 | 52 | |||||||||||||||||||
People | |||||||||||||||||||||||
Average no of employees: Total | 2,731 | 2,454 | 2,333 | ||||||||||||||||||||
Permanent employees | 957 | 860 | 824 | ||||||||||||||||||||
Contractors | 1,774 | 1,594 | 1,509 |
Attributable gold production (000oz) | Average number of employees | ||||||||||
Operations | |||||||||||
1. Argentina | |||||||||||
Cerro Vanguardia (Attr. 92.5%) | 170 | 1,819 | |||||||||
2. Brazil | |||||||||||
AGA Mineração | 311 | 5,702 | |||||||||
Serra Grande | 88 | 1,977 |
Unit | 2022 | 2021 | 2020 | ||||||||||||||||||||
Operation | |||||||||||||||||||||||
Tonnes treated/milled | Mt | 7.1 | 7.8 | 7.5 | |||||||||||||||||||
Pay limit | oz/t | 0.10 | 0.10 | 0.07 | |||||||||||||||||||
g/t | 3.52 | 3.49 | 2.46 | ||||||||||||||||||||
Recovered grade | oz/t | 0.070 | 0.066 | 0.081 | |||||||||||||||||||
g/t | 2.40 | 2.27 | 2.77 | ||||||||||||||||||||
Gold production (attributable) | 000oz | 569 | 559 | 649 | |||||||||||||||||||
Silver production (attributable) | Moz | 3.2 | 3.4 | 3.3 | |||||||||||||||||||
Cost of sales | $m | 913 | 822 | 764 | |||||||||||||||||||
Total cash costs per ounce (1) | $/oz | 1,078 | 921 | 721 | |||||||||||||||||||
All-in sustaining costs per ounce (1) | $/oz | 1,718 | 1,587 | 1,003 | |||||||||||||||||||
Capital expenditure (2) | $m | 339 | 398 | 216 | |||||||||||||||||||
Safety | |||||||||||||||||||||||
Number of fatalities | 0 | 1 | 0 | ||||||||||||||||||||
TRIFR | Per million hours worked | 2.33 | 3.55 | 3.68 | |||||||||||||||||||
People | |||||||||||||||||||||||
Average no of employees: Total | 9,498 | 9,972 | 8,789 | ||||||||||||||||||||
Permanent employees | 6,093 | 6,452 | 6,158 | ||||||||||||||||||||
Contractors | 3,405 | 3,520 | 2,631 |
Attributable gold production (000oz) | Average number of employees | ||||||||||
Operations | |||||||||||
Australia | |||||||||||
1. Sunrise Dam | 232 | 725 | |||||||||
2. Tropicana 70% | 306 | 807 |
Unit | 2022 | 2021 | 2020 | ||||||||||||||||||||
Operation | |||||||||||||||||||||||
Tonnes treated/milled | Mt | 10.7 | 10.5 | 10.2 | |||||||||||||||||||
Pay limit | oz/t | 0.05 | 0.06 | 0.06 | |||||||||||||||||||
g/t | 1.69 | 1.89 | 1.95 | ||||||||||||||||||||
Recovered grade | oz/t | 0.050 | 0.047 | 0.054 | |||||||||||||||||||
g/t | 1.56 | 1.47 | 1.68 | ||||||||||||||||||||
Gold production (attributable) | 000oz | 538 | 494 | 554 | |||||||||||||||||||
Cost of sales | $m | 783 | 740 | 705 | |||||||||||||||||||
Total cash costs per ounce (1) | $/oz | 1,157 | 1,196 | 968 | |||||||||||||||||||
All-in sustaining costs per ounce(1) | $/oz | 1,345 | 1,500 | 1,225 | |||||||||||||||||||
Capital expenditure | $m | 202 | 185 | 142 | |||||||||||||||||||
Safety | |||||||||||||||||||||||
Number of fatalities | 0 | 0 | 0 | ||||||||||||||||||||
TRIFR | Per million hours worked | 3.82 | 6.59 | 3.74 | |||||||||||||||||||
People | |||||||||||||||||||||||
Average no of employees: Total | 1,532 | 1,332 | 1,230 | ||||||||||||||||||||
Permanent employees | 314 | 288 | 259 | ||||||||||||||||||||
Contractors | 1,218 | 1,044 | 971 |
Gold production (000oz) | Average number of employees | ||||||||||
Operations | |||||||||||
South Africa | |||||||||||
1. West Wits | |||||||||||
Mponeng | 134 | 5,040 | |||||||||
2. Surface operations (1) | 107 | 2,254 |
Unit | 2020 | 2019 | 2018 | ||||||||||||||||||||
Operation | |||||||||||||||||||||||
Tonnes treated/milled | Mt | 0.4 | 35.1 | 34.9 | |||||||||||||||||||
Pay limit (1) | oz/t | 0.40 | 0.33 | 0.44 | |||||||||||||||||||
g/t | 14.60 | 11.90 | 16.11 | ||||||||||||||||||||
Recovered grade (1) | oz/t | 0.120 | 0.183 | 0.219 | |||||||||||||||||||
g/t | 3.75 | 5.69 | 6.82 | ||||||||||||||||||||
Gold production | 000oz | 241 | 419 | 487 | |||||||||||||||||||
Cost of sales | $m | 287 | 479 | 590 | |||||||||||||||||||
Total cash costs (2) | $/oz | 1,149 | 981 | 1,033 | |||||||||||||||||||
All-in sustaining costs (2) | $/oz | 1,296 | 1,132 | 1,178 | |||||||||||||||||||
Capital expenditure | $m | 35 | 57 | 73 | |||||||||||||||||||
Safety | |||||||||||||||||||||||
Number of fatalities | 4 | 0 | 2 | ||||||||||||||||||||
AIFR | Per million hours worked | 6.12 | 10.00 | 10.25 | |||||||||||||||||||
People | |||||||||||||||||||||||
Average no of employees: Total | 7,294 | 6,975 | 17,308 | ||||||||||||||||||||
Permanent employees | 6,418 | 6,202 | 15,557 | ||||||||||||||||||||
Contractors | 876 | 773 | 1,751 |
Unit | 2022 | 2021 | 2020 | ||||||||||||||||||||
Operation | |||||||||||||||||||||||
Tonnes treated/milled | Mt | 0.4 | |||||||||||||||||||||
Pay limit (1) | oz/t | 0.40 | |||||||||||||||||||||
g/t | 14.60 | ||||||||||||||||||||||
Recovered grade (1) | oz/t | 0.120 | |||||||||||||||||||||
g/t | 3.75 | ||||||||||||||||||||||
Gold production | 000oz | 241 | |||||||||||||||||||||
Cost of sales | $m | 287 | |||||||||||||||||||||
Total cash costs per ounce (2) | $/oz | 1,149 | |||||||||||||||||||||
All-in sustaining costs per ounce(2) | $/oz | 1,296 | |||||||||||||||||||||
Capital expenditure | $m | 35 | |||||||||||||||||||||
Safety | |||||||||||||||||||||||
Number of fatalities | 4 | ||||||||||||||||||||||
TRIFR | Per million hours worked | 6.12 | |||||||||||||||||||||
People | |||||||||||||||||||||||
Average no of employees: Total | 8,297 | ||||||||||||||||||||||
Permanent employees | 7,012 | ||||||||||||||||||||||
Contractors | 1,285 |
Mineral Resource | Category | Tonnes | Grade | Contained Gold | |||||||||||||
as at 31 December 2022 | million | g/t | tonnes | Moz | |||||||||||||
Kibali (45 percent) | Measured | 7.22 | 3.18 | 22.97 | 0.74 | ||||||||||||
Indicated | 22.15 | 2.64 | 58.44 | 1.88 | |||||||||||||
Measured & Indicated | 29.37 | 2.77 | 81.41 | 2.62 | |||||||||||||
Inferred | 13.16 | 2.61 | 34.43 | 1.11 |
as at 31 December 2022 | Kibali | |||||||||||||
Category | Measured | Indicated | Measured and Indicated total | Inferred | ||||||||||
Previous Year | 0.78 | 1.76 | 2.54 | 0.89 | ||||||||||
Depletion | (0.01) | — | (0.01) | — | ||||||||||
Exploration | 0.01 | — | 0.01 | 0.10 | ||||||||||
Methodology | — | — | — | — | ||||||||||
Price | 0.03 | 0.16 | 0.19 | 0.13 | ||||||||||
Cost | (0.01) | (0.02) | (0.03) | (0.02) | ||||||||||
Geotechnical | (0.07) | (0.02) | (0.09) | — | ||||||||||
Metallurgical | — | 0.01 | 0.01 | 0.01 | ||||||||||
Acquisition / Disposal | — | — | — | — | ||||||||||
Other | — | — | — | — | ||||||||||
Current Year | 0.74 | 1.88 | 2.62 | 1.11 | ||||||||||
Net Difference | (0.04) | 0.12 | 0.08 | 0.22 | ||||||||||
% Difference | (5) | 7 | 3 | 24 |
Kibali | Unit | Open Pit | ||||||
Costs | ||||||||
Waste cost | $/tonne mined | 2.92-3.09(1) | ||||||
Extra Ore Cost – Grade Control + Ore – Rehandle + Overhaul | $/tonne mined | 1.27 | ||||||
Grade Control cost | $/tonne mined | 0.75 | ||||||
Dilution | % | 10 | ||||||
Ore Loss | % | 3 | ||||||
Processing cost | $/tonne milled | 15.04-17.85(1) | ||||||
G&A | $/tonne milled | 8.47 | ||||||
Other Parameters | ||||||||
Gold Royalties (4.7%) | $/oz | 70.50 | ||||||
Metallurgical Recovery Factor | %MetRF | 86.1-90.1(1) | ||||||
Mineral Resource cut-off grade | g/t | 0.6-0.7(1) |
Kibali | Unit | Open Pit | ||||||
Mineral Resource price | $/oz | 1,700 (2) | ||||||
Notes: AngloGold Ashanti has recognised that in preparing this annual report, the Qualified Persons have relied on information provided by Barrick. (1) Vary according to rock type. (2) AngloGold Ashanti has determined that there is no material change to the Mineral Resource reported in the 2021 Technical Report Summary for Kibali (effective date: 31 December 2021) filed as Exhibit 19.15.7 hereto if this updated gold price is used (instead of $1,500, the gold price used to estimate the Mineral Resource in 2021). |
Kibali | Unit | Underground | ||||||
Costs | ||||||||
Mine Production | $/tonne ore mined | 36.17 | ||||||
Capital | $/tonne ore mined | 3.97 | ||||||
G&A | $/tonne ore milled | 8.47 | ||||||
Processing cost | $/tonne ore milled | 17.85 | ||||||
Other Parameters | ||||||||
Gold Royalties (4.7%) | $/oz | 70.50 | ||||||
Mining cut-off grade | g/t | 1.62 | ||||||
Mineral Resource price | $/oz | 1,700 (1) | ||||||
Metallurgical Recovery Factor | %MetRF | 90 | ||||||
Notes: AngloGold Ashanti has recognised that in preparing this report, the Qualified Persons have relied on information provided by Barrick. (1) AngloGold Ashanti has determined that there is no material change to the Mineral Resource reported in the 2021 Technical Report Summary for Kibali (effective date: 31 December 2021) filed as Exhibit 19.15.7 hereto if this updated gold price is used (instead of $1,500, the gold price used to estimate the Mineral Resource in 2021). |
Mineral Reserve | Category | Tonnes | Grade | Contained Gold | |||||||||||||
as at 31 December 2022 | million | g/t | tonnes | Moz | |||||||||||||
Kibali (45 percent) | Proven | 14.49 | 3.47 | 50.33 | 1.62 | ||||||||||||
Probable | 29.17 | 3.15 | 91.86 | 2.95 | |||||||||||||
Total | 43.67 | 3.26 | 142.19 | 4.57 |
as at 31 December 2022 | Kibali | ||||||||||
Category | Proven | Probable | Total | ||||||||
Previous Year | 1.74 | 2.59 | 4.33 | ||||||||
Depletion | (0.28) | (0.12) | (0.40) | ||||||||
Exploration | 0.11 | 0.42 | 0.53 | ||||||||
Methodology | — | — | — | ||||||||
Price | 0.03 | 0.12 | 0.15 | ||||||||
Cost | (0.01) | (0.03) | (0.04) | ||||||||
Geotechnical | — | — | — | ||||||||
Metallurgical | — | — | — | ||||||||
Operational | 0.03 | — | 0.03 | ||||||||
Other | — | (0.03) | (0.03) | ||||||||
Acquisition / Disposal | — | — | — | ||||||||
Current Year | 1.62 | 2.95 | 4.57 | ||||||||
Net Difference | (0.12) | 0.36 | 0.24 | ||||||||
% Difference | (7) | 14 | 6 |
as at 31 December 2022 | Kibali | |||||||
Primary Commodity Price | $/oz | 1,300(1)(6) | ||||||
Cut-off grade | g/t | 1.50(3)(5); 1.96(4) | ||||||
Stoping width | cm | 2990(4) | ||||||
Dilution | % | 2.0-12.5(4); 10(5) | ||||||
Mining Recovery Factor | MRF based on tonnes (%) | 91.6(4); 97(5) | ||||||
Mine Call Factor | MCF (%) | 97 | ||||||
Metallurgical Recovery Factor | MetRF (%) | 89-90(2) | ||||||
Notes: AngloGold Ashanti has recognised that in preparing this annual report, the Qualified Persons have, relied on information provided by Barrick. (1) AngloGold Ashanti has determined that there is no material change to the Mineral Reserve reported in the 2021 Technical Report Summary for Kibali (effective date: 31 December 2021) filed as Exhibit 19.15.7 hereto if this updated gold price is used (instead of $1,200, the gold price used to estimate the Mineral Reserve in 2021). (2) Vary according to rock type. (3) Stockpile. (4) Underground. (5) Open pit. (6) Open Pits and underground were based on a gold price of $1,300/oz, with the exception of the Pamoa Main pit (based on a gold price of $1,400/oz) and the Pamoa South pit (based on a gold price of $1,500/oz). |
Mineral Resource | Category | Tonnes | Grade | Contained Gold | |||||||||||||
as at 31 December 2022 | million | g/t | tonnes | Moz | |||||||||||||
Obuasi | Measured | 1.96 | 8.44 | 16.59 | 0.53 | ||||||||||||
Indicated | 27.66 | 6.06 | 167.59 | 5.39 | |||||||||||||
Measured & Indicated | 29.63 | 6.22 | 184.18 | 5.92 | |||||||||||||
Inferred | 39.80 | 8.50 | 338.17 | 10.87 |
as at 31 December 2022 | Obuasi | |||||||||||||
Category | Measured | Indicated | Measured and Indicated total | Inferred | ||||||||||
Previous Year | 0.66 | 5.84 | 6.50 | 12.05 | ||||||||||
Depletion | — | — | — | — | ||||||||||
Exploration | — | — | — | (0.06) | ||||||||||
Methodology | 0.02 | 0.28 | 0.30 | (0.53) | ||||||||||
Price | 0.02 | 0.58 | 0.60 | 1.11 | ||||||||||
Cost | (0.17) | (0.97) | (1.14) | (1.31) | ||||||||||
Geotechnical | — | — | — | — | ||||||||||
Metallurgical | — | — | — | — | ||||||||||
Acquisition / Disposal | — | — | — | — | ||||||||||
Other | — | (0.33) | (0.33) | (0.37) | ||||||||||
Current Year | 0.53 | 5.39 | 5.92 | 10.87 | ||||||||||
Net Difference | (0.12) | (0.45) | (0.57) | (1.17) | ||||||||||
% Difference | (19) | (8) | (9) | (10) |
Obuasi | Unit | Underground | ||||||
Costs | ||||||||
Mining cost | $/tonne mined | 64.26-79.44(1) | ||||||
Processing cost | $/tonne treated | 42.57 | ||||||
G&A | $/tonne treated | 21.96 | ||||||
Other Parameters | ||||||||
Royalties | % | 3.0 | ||||||
MSO(2) optimising cut-off | g/t | 3.43-3.75(1) | ||||||
Mineral Resource cut-off grade | g/t | 3.43-3.75(1) | ||||||
Mineral Resource price | $/oz | 1,600-1,750(3)(4) | ||||||
Metallurgical Recovery Factor | %MetRF | 87 | ||||||
Notes: (1) Vary according to area. (2) Datamine Mineable Shape Optimiser ("MSO"). (3) Open pit based on a gold price of $1,600/oz, Underground based on a gold price of $1,750/oz. (4) AngloGold Ashanti has determined that there is no material change to the Mineral Resource reported in the 2021 Technical Report Summary for Obuasi (effective date: 31 December 2021) filed as Exhibit 19.15.5 hereto if this updated gold price is used (instead of $1,500, the gold price used to estimate the Mineral Resource in 2021). |
Mineral Reserve | Category | Tonnes | Grade | Contained Gold | |||||||||||||
as at 31 December 2022 | million | g/t | tonnes | Moz | |||||||||||||
Obuasi | Proven | 4.47 | 9.55 | 42.73 | 1.37 | ||||||||||||
Probable | 21.25 | 9.26 | 196.67 | 6.32 | |||||||||||||
Total | 25.72 | 9.31 | 239.40 | 7.70 |
as at 31 December 2022 | Obuasi | ||||||||||
Category | Proven | Probable | Total | ||||||||
Previous Year | 1.19 | 7.08 | 8.26 | ||||||||
Depletion | (0.23) | — | (0.23) | ||||||||
Exploration | — | (0.77) | (0.77) | ||||||||
Methodology | 0.54 | — | 0.54 | ||||||||
Price | 0.11 | 1.49 | 1.60 | ||||||||
Cost | (0.23) | (1.48) | (1.71) | ||||||||
Geotechnical | — | — | — | ||||||||
Metallurgical | — | — | — | ||||||||
Operational | — | — | — | ||||||||
Other | — | — | — | ||||||||
Acquisition / Disposal | — | — | — | ||||||||
Current Year | 1.37 | 6.32 | 7.70 | ||||||||
Net Difference | 0.19 | (0.75) | (0.57) | ||||||||
% Difference | 16 | (11) | (7) |
as at 31 December 2022 | Obuasi | |||||||
Primary Commodity Price | $/oz | 1400(1) | ||||||
Cut-off grade | g/t | 4.29-4.69(2) | ||||||
as at 31 December 2022 | Obuasi | |||||||
Dilution | % | 12-17(2) | ||||||
Mining Recovery Factor | %MRF based on tonnes | 95-98(2) | ||||||
Mining Recovery Factor | %MRF based on g/t | 100 | ||||||
Mine Call Factor | %MCF | 100 | ||||||
Metallurgical Recovery Factor | %MetRF | 87 | ||||||
Notes: (1) AngloGold Ashanti has determined that there is no material change to the Mineral Reserve reported in the 2021 Technical Report Summary for Obuasi (effective date: 31 December 2021) filed as Exhibit 19.15.5 hereto if this updated gold price is used (instead of $1,200, the gold price used to estimate the Mineral Reserve in 2021). (2) Vary according to area. |
Mineral Resource | Category | Tonnes | Grade | Contained Gold | |||||||||||||
as at 31 December 2022 | million | g/t | tonnes | Moz | |||||||||||||
Geita | Measured | 1.80 | 4.15 | 7.50 | 0.24 | ||||||||||||
Indicated | 40.32 | 2.03 | 81.96 | 2.63 | |||||||||||||
Measured & Indicated | 42.12 | 2.12 | 89.45 | 2.88 | |||||||||||||
Inferred | 36.21 | 2.64 | 95.71 | 3.08 |
as at 31 December 2022 | Geita | |||||||||||||
Category | Measured | Indicated | Measured and Indicated total | Inferred | ||||||||||
Previous Year | 0.21 | 1.87 | 2.08 | 3.26 | ||||||||||
Depletion | — | — | — | — | ||||||||||
Exploration | 0.02 | 0.09 | 0.11 | 0.12 | ||||||||||
Methodology | 0.03 | 0.49 | 0.52 | (0.57) | ||||||||||
Price | 0.01 | 0.17 | 0.18 | 0.19 | ||||||||||
Cost | (0.03) | 0.19 | 0.16 | 0.07 | ||||||||||
Geotechnical | — | — | — | — | ||||||||||
Metallurgical | — | 0.02 | 0.02 | 0.02 | ||||||||||
Acquisition / Disposal | — | — | — | — | ||||||||||
Other | — | (0.20) | (0.20) | — | ||||||||||
Current Year | 0.24 | 2.63 | 2.88 | 3.08 | ||||||||||
Net Difference | 0.03 | 0.77 | 0.80 | (0.18) | ||||||||||
% Difference | 16 | 41 | 38 | (6) |
Geita | Unit | Open Pit | ||||||
Costs | ||||||||
Ore mining cost | $/tonne mined | 3.3 | ||||||
Waste mining cost | $/tonne mined | 3.3 | ||||||
Material handling | $/tonne mined | 2.03 | ||||||
Processing cost | $/tonne treated | 18.63 | ||||||
G&A | $/tonne treated | 8.43 | ||||||
Other Parameters | ||||||||
Metallurgical Recovery Factor | %MetRF | 89 | ||||||
Slope angles | degree | 55 | ||||||
Mineral Resource cut-off grade | g/t | 0.65 | ||||||
Mineral Resource price | $/oz | 1,750 | ||||||
Royalties | % | 7.3 |
Geita | Unit | Underground | ||||||
Costs | ||||||||
Production (Mining cost) | $/tonne ore mined | 47.68-82.88(1) | ||||||
Mine Services | $/tonne ore mined | 21.97-25.78(1) | ||||||
Processing cost | $/tonne treated | 18.46-19.11(2) | ||||||
Other Parameters | ||||||||
Mineral Resource cut-off grade | g/t | 1.86-3.01(2) | ||||||
Mineral Resource price | $/oz | 1,750 | ||||||
Metallurgical Recovery Factor | %MetRF | 70.4-91.4(1) | ||||||
Royalties | % | 7.3 | ||||||
Notes: (1) Mining cost includes backfilling at Nyankanga, and material handling costs. (2) Variable according to area. (3) %MetRF: Ridge 8, 70.4%, Star and Comet Cut 5, 80.4%, Star and Comet Cut 2, 88.3%, Star and Comet Cut 3, 88.4%, Geita Hill 87.2%, Nyankanga Block 5, 89.8%, Nyankanga Block 1, 2, 3 and 4, 91.4%. (4) Datamine Mineable Shape Optimiser ("MSO"). |
Mineral Reserve | Category | Tonnes | Grade | Contained Gold | |||||||||||||
as at 31 December 2022 | million | g/t | tonnes | Moz | |||||||||||||
Geita | Proven | 9.54 | 1.02 | 9.70 | 0.31 | ||||||||||||
Probable | 38.95 | 2.60 | 101.19 | 3.25 | |||||||||||||
Total | 48.49 | 2.29 | 110.89 | 3.57 |
as at 31 December 2022 | Geita | ||||||||||
Category | Proven | Probable | Total | ||||||||
Previous Year | 0.09 | 2.55 | 2.65 | ||||||||
Depletion | (0.06) | (0.49) | (0.55) | ||||||||
Exploration | — | 0.87 | 0.87 | ||||||||
Methodology | — | — | — | ||||||||
Price | — | 0.40 | 0.40 | ||||||||
Cost | 0.18 | 0.06 | 0.25 | ||||||||
Geotechnical | — | — | — | ||||||||
Metallurgical | — | — | — | ||||||||
Operational | 0.04 | (0.10) | (0.06) | ||||||||
Other | 0.06 | (0.04) | 0.02 | ||||||||
Acquisition / Disposal | — | — | — | ||||||||
Current Year | 0.31 | 3.25 | 3.57 | ||||||||
Net Difference | 0.22 | 0.70 | 0.92 | ||||||||
% Difference | 241 | 27 | 35 |
as at 31 December 2022 | Geita | |||||||
Primary Commodity Price | $/oz | 1,400 | ||||||
Cut-off grade | g/t | 0.70(2)-4.20(3) | ||||||
Stoping width | cm | 450-2,500(3) | ||||||
Dilution | % | 11.6(2);10-17(3) | ||||||
Resource Modification Factor | %RMF based on tonnes | 99.5(2)-100(3) | ||||||
Resource Modification Factor | %RMF based on g/t | 93(2)-100(3) | ||||||
Mining Recovery Factor | %MRF based on tonnes | 86-100(1) | ||||||
Mining Recovery Factor | %MRF based on g/t | 86-100(1) | ||||||
Mine Call Factor | %MCF | 100 | ||||||
Metallurgical Recovery Factor | %MetRF | 80.4-91.4(1) | ||||||
Notes: (1) Vary according to rock type / area. (2) Open pit. (3) Underground. |
Attributable gold production (000oz) | Average number of employees | ||||||||||
Subsidiary operations | |||||||||||
Ghana | |||||||||||
Iduapriem | 248 | 2,186 | |||||||||
Obuasi | 250 | 4,403 | |||||||||
Guinea | |||||||||||
Attr. Siguiri 85% | 279 | 4,052 | |||||||||
Tanzania | |||||||||||
Geita | 521 | 6,435 | |||||||||
Joint venture operations | |||||||||||
Democratic Republic of the Congo | |||||||||||
Attr. Kibali 45% | 337 | 2,731 | |||||||||
Unit | 2022 | 2021 | 2020 | ||||||||||||||||||||
Restated | |||||||||||||||||||||||
Subsidiary operations | |||||||||||||||||||||||
Tonnes treated/milled | Mt | 21.6 | 21.2 | 20.5 | |||||||||||||||||||
Pay limit | oz/t | 0.044 | 0.035 | 0.034 | |||||||||||||||||||
g/t | 1.516 | 1.193 | 1.160 | ||||||||||||||||||||
Recovered grade | oz/t | 0.054 | 0.045 | 0.052 | |||||||||||||||||||
g/t | 1.86 | 1.54 | 1.77 | ||||||||||||||||||||
Gold production (a) (attributable) | 000oz | 1,298 | 1,054 | 1,239 | |||||||||||||||||||
Cost of sales | $m | 1,662 | 1,300 | 1,362 | |||||||||||||||||||
Total cash costs per ounce (1) | $/oz | 1,023 | 991 | 841 | |||||||||||||||||||
All-in sustaining costs per ounce(1) | $/oz | 1,291 | 1,264 | 1,002 | |||||||||||||||||||
Capital expenditure | $m | 486 | 434 | 383 | |||||||||||||||||||
Safety | |||||||||||||||||||||||
Number of fatalities | 0 | 1 | 2 | ||||||||||||||||||||
TRIFR | Per million hours worked | 0.33 | 0.61 | 0.55 | |||||||||||||||||||
People | |||||||||||||||||||||||
Average no of employees: Total | 17,076 | 14,806 | 14,496 | ||||||||||||||||||||
Permanent employees | 5,780 | 5,619 | 5,433 | ||||||||||||||||||||
Contractors | 11,296 | 9,187 | 9,063 |
Unit | 2022 | 2021 | 2020 | ||||||||||||||||||||
Joint venture operations | |||||||||||||||||||||||
Tonnes treated/milled | Mt | 3.5 | 3.5 | 3.4 | |||||||||||||||||||
Pay limit | oz/t | 0.054 | 0.048 | 0.048 | |||||||||||||||||||
g/t | 1.850 | 1.652 | 1.640 | ||||||||||||||||||||
Recovered grade | oz/t | 0.087 | 0.095 | 0.096 | |||||||||||||||||||
g/t | 2.98 | 3.25 | 3.29 | ||||||||||||||||||||
Gold production (attributable) | 000oz | 337 | 365 | 364 | |||||||||||||||||||
Cost of sales | $m | 342 | 350 | 340 | |||||||||||||||||||
Total cash costs per ounce (1) | $/oz | 725 | 647 | 629 | |||||||||||||||||||
All-in sustaining costs per ounce(1) | $/oz | 979 | 856 | 810 | |||||||||||||||||||
Capital expenditure | $m | 90 | 72 | 52 | |||||||||||||||||||
People | |||||||||||||||||||||||
Average no of employees: Total | 2,731 | 2,454 | 2,333 | ||||||||||||||||||||
Permanent employees | 957 | 860 | 824 | ||||||||||||||||||||
Contractors | 1,774 | 1,594 | 1,509 |
Attributable gold production (000oz) | Average number of employees | ||||||||||
Operations | |||||||||||
1. Argentina | |||||||||||
Cerro Vanguardia (Attr. 92.5%) | 170 | 1,819 | |||||||||
2. Brazil | |||||||||||
AGA Mineração | 311 | 5,702 | |||||||||
Serra Grande | 88 | 1,977 |
Unit | 2022 | 2021 | 2020 | ||||||||||||||||||||
Operation | |||||||||||||||||||||||
Tonnes treated/milled | Mt | 7.1 | 7.8 | 7.5 | |||||||||||||||||||
Pay limit | oz/t | 0.10 | 0.10 | 0.07 | |||||||||||||||||||
g/t | 3.52 | 3.49 | 2.46 | ||||||||||||||||||||
Recovered grade | oz/t | 0.070 | 0.066 | 0.081 | |||||||||||||||||||
g/t | 2.40 | 2.27 | 2.77 | ||||||||||||||||||||
Gold production (attributable) | 000oz | 569 | 559 | 649 | |||||||||||||||||||
Silver production (attributable) | Moz | 3.2 | 3.4 | 3.3 | |||||||||||||||||||
Cost of sales | $m | 913 | 822 | 764 | |||||||||||||||||||
Total cash costs per ounce (1) | $/oz | 1,078 | 921 | 721 | |||||||||||||||||||
All-in sustaining costs per ounce (1) | $/oz | 1,718 | 1,587 | 1,003 | |||||||||||||||||||
Capital expenditure (2) | $m | 339 | 398 | 216 | |||||||||||||||||||
Safety | |||||||||||||||||||||||
Number of fatalities | 0 | 1 | 0 | ||||||||||||||||||||
TRIFR | Per million hours worked | 2.33 | 3.55 | 3.68 | |||||||||||||||||||
People | |||||||||||||||||||||||
Average no of employees: Total | 9,498 | 9,972 | 8,789 | ||||||||||||||||||||
Permanent employees | 6,093 | 6,452 | 6,158 | ||||||||||||||||||||
Contractors | 3,405 | 3,520 | 2,631 |
Attributable gold production (000oz) | Average number of employees | ||||||||||
Operations | |||||||||||
Australia | |||||||||||
1. Sunrise Dam | 232 | 725 | |||||||||
2. Tropicana 70% | 306 | 807 |
Unit | 2022 | 2021 | 2020 | ||||||||||||||||||||
Operation | |||||||||||||||||||||||
Tonnes treated/milled | Mt | 10.7 | 10.5 | 10.2 | |||||||||||||||||||
Pay limit | oz/t | 0.05 | 0.06 | 0.06 | |||||||||||||||||||
g/t | 1.69 | 1.89 | 1.95 | ||||||||||||||||||||
Recovered grade | oz/t | 0.050 | 0.047 | 0.054 | |||||||||||||||||||
g/t | 1.56 | 1.47 | 1.68 | ||||||||||||||||||||
Gold production (attributable) | 000oz | 538 | 494 | 554 | |||||||||||||||||||
Cost of sales | $m | 783 | 740 | 705 | |||||||||||||||||||
Total cash costs per ounce (1) | $/oz | 1,157 | 1,196 | 968 | |||||||||||||||||||
All-in sustaining costs per ounce(1) | $/oz | 1,345 | 1,500 | 1,225 | |||||||||||||||||||
Capital expenditure | $m | 202 | 185 | 142 | |||||||||||||||||||
Safety | |||||||||||||||||||||||
Number of fatalities | 0 | 0 | 0 | ||||||||||||||||||||
TRIFR | Per million hours worked | 3.82 | 6.59 | 3.74 | |||||||||||||||||||
People | |||||||||||||||||||||||
Average no of employees: Total | 1,532 | 1,332 | 1,230 | ||||||||||||||||||||
Permanent employees | 314 | 288 | 259 | ||||||||||||||||||||
Contractors | 1,218 | 1,044 | 971 |
Unit | 2022 | 2021 | 2020 | ||||||||||||||||||||
Operation | |||||||||||||||||||||||
Tonnes treated/milled | Mt | 0.4 | |||||||||||||||||||||
Pay limit (1) | oz/t | 0.40 | |||||||||||||||||||||
g/t | 14.60 | ||||||||||||||||||||||
Recovered grade (1) | oz/t | 0.120 | |||||||||||||||||||||
g/t | 3.75 | ||||||||||||||||||||||
Gold production | 000oz | 241 | |||||||||||||||||||||
Cost of sales | $m | 287 | |||||||||||||||||||||
Total cash costs per ounce (2) | $/oz | 1,149 | |||||||||||||||||||||
All-in sustaining costs per ounce(2) | $/oz | 1,296 | |||||||||||||||||||||
Capital expenditure | $m | 35 | |||||||||||||||||||||
Safety | |||||||||||||||||||||||
Number of fatalities | 4 | ||||||||||||||||||||||
TRIFR | Per million hours worked | 6.12 | |||||||||||||||||||||
People | |||||||||||||||||||||||
Average no of employees: Total | 8,297 | ||||||||||||||||||||||
Permanent employees | 7,012 | ||||||||||||||||||||||
Contractors | 1,285 |
Mineral Resource | Category | Tonnes | Grade | Contained Gold | |||||||||||||
as at 31 December 2022 | million | g/t | tonnes | Moz | |||||||||||||
Kibali (45 percent) | Measured | 7.22 | 3.18 | 22.97 | 0.74 | ||||||||||||
Indicated | 22.15 | 2.64 | 58.44 | 1.88 | |||||||||||||
Measured & Indicated | 29.37 | 2.77 | 81.41 | 2.62 | |||||||||||||
Inferred | 13.16 | 2.61 | 34.43 | 1.11 |
as at 31 December 2022 | Kibali | |||||||||||||
Category | Measured | Indicated | Measured and Indicated total | Inferred | ||||||||||
Previous Year | 0.78 | 1.76 | 2.54 | 0.89 | ||||||||||
Depletion | (0.01) | — | (0.01) | — | ||||||||||
Exploration | 0.01 | — | 0.01 | 0.10 | ||||||||||
Methodology | — | — | — | — | ||||||||||
Price | 0.03 | 0.16 | 0.19 | 0.13 | ||||||||||
Cost | (0.01) | (0.02) | (0.03) | (0.02) | ||||||||||
Geotechnical | (0.07) | (0.02) | (0.09) | — | ||||||||||
Metallurgical | — | 0.01 | 0.01 | 0.01 | ||||||||||
Acquisition / Disposal | — | — | — | — | ||||||||||
Other | — | — | — | — | ||||||||||
Current Year | 0.74 | 1.88 | 2.62 | 1.11 | ||||||||||
Net Difference | (0.04) | 0.12 | 0.08 | 0.22 | ||||||||||
% Difference | (5) | 7 | 3 | 24 |
Kibali | Unit | Open Pit | ||||||
Costs | ||||||||
Waste cost | $/tonne mined | 2.92-3.09(1) | ||||||
Extra Ore Cost – Grade Control + Ore – Rehandle + Overhaul | $/tonne mined | 1.27 | ||||||
Grade Control cost | $/tonne mined | 0.75 | ||||||
Dilution | % | 10 | ||||||
Ore Loss | % | 3 | ||||||
Processing cost | $/tonne milled | 15.04-17.85(1) | ||||||
G&A | $/tonne milled | 8.47 | ||||||
Other Parameters | ||||||||
Gold Royalties (4.7%) | $/oz | 70.50 | ||||||
Metallurgical Recovery Factor | %MetRF | 86.1-90.1(1) | ||||||
Mineral Resource cut-off grade | g/t | 0.6-0.7(1) |
Kibali | Unit | Open Pit | ||||||
Mineral Resource price | $/oz | 1,700 (2) | ||||||
Notes: AngloGold Ashanti has recognised that in preparing this annual report, the Qualified Persons have relied on information provided by Barrick. (1) Vary according to rock type. (2) AngloGold Ashanti has determined that there is no material change to the Mineral Resource reported in the 2021 Technical Report Summary for Kibali (effective date: 31 December 2021) filed as Exhibit 19.15.7 hereto if this updated gold price is used (instead of $1,500, the gold price used to estimate the Mineral Resource in 2021). |
Kibali | Unit | Underground | ||||||
Costs | ||||||||
Mine Production | $/tonne ore mined | 36.17 | ||||||
Capital | $/tonne ore mined | 3.97 | ||||||
G&A | $/tonne ore milled | 8.47 | ||||||
Processing cost | $/tonne ore milled | 17.85 | ||||||
Other Parameters | ||||||||
Gold Royalties (4.7%) | $/oz | 70.50 | ||||||
Mining cut-off grade | g/t | 1.62 | ||||||
Mineral Resource price | $/oz | 1,700 (1) | ||||||
Metallurgical Recovery Factor | %MetRF | 90 | ||||||
Notes: AngloGold Ashanti has recognised that in preparing this report, the Qualified Persons have relied on information provided by Barrick. (1) AngloGold Ashanti has determined that there is no material change to the Mineral Resource reported in the 2021 Technical Report Summary for Kibali (effective date: 31 December 2021) filed as Exhibit 19.15.7 hereto if this updated gold price is used (instead of $1,500, the gold price used to estimate the Mineral Resource in 2021). |
Mineral Reserve | Category | Tonnes | Grade | Contained Gold | |||||||||||||
as at 31 December 2022 | million | g/t | tonnes | Moz | |||||||||||||
Kibali (45 percent) | Proven | 14.49 | 3.47 | 50.33 | 1.62 | ||||||||||||
Probable | 29.17 | 3.15 | 91.86 | 2.95 | |||||||||||||
Total | 43.67 | 3.26 | 142.19 | 4.57 |
as at 31 December 2022 | Kibali | ||||||||||
Category | Proven | Probable | Total | ||||||||
Previous Year | 1.74 | 2.59 | 4.33 | ||||||||
Depletion | (0.28) | (0.12) | (0.40) | ||||||||
Exploration | 0.11 | 0.42 | 0.53 | ||||||||
Methodology | — | — | — | ||||||||
Price | 0.03 | 0.12 | 0.15 | ||||||||
Cost | (0.01) | (0.03) | (0.04) | ||||||||
Geotechnical | — | — | — | ||||||||
Metallurgical | — | — | — | ||||||||
Operational | 0.03 | — | 0.03 | ||||||||
Other | — | (0.03) | (0.03) | ||||||||
Acquisition / Disposal | — | — | — | ||||||||
Current Year | 1.62 | 2.95 | 4.57 | ||||||||
Net Difference | (0.12) | 0.36 | 0.24 | ||||||||
% Difference | (7) | 14 | 6 |
as at 31 December 2022 | Kibali | |||||||
Primary Commodity Price | $/oz | 1,300(1)(6) | ||||||
Cut-off grade | g/t | 1.50(3)(5); 1.96(4) | ||||||
Stoping width | cm | 2990(4) | ||||||
Dilution | % | 2.0-12.5(4); 10(5) | ||||||
Mining Recovery Factor | MRF based on tonnes (%) | 91.6(4); 97(5) | ||||||
Mine Call Factor | MCF (%) | 97 | ||||||
Metallurgical Recovery Factor | MetRF (%) | 89-90(2) | ||||||
Notes: AngloGold Ashanti has recognised that in preparing this annual report, the Qualified Persons have, relied on information provided by Barrick. (1) AngloGold Ashanti has determined that there is no material change to the Mineral Reserve reported in the 2021 Technical Report Summary for Kibali (effective date: 31 December 2021) filed as Exhibit 19.15.7 hereto if this updated gold price is used (instead of $1,200, the gold price used to estimate the Mineral Reserve in 2021). (2) Vary according to rock type. (3) Stockpile. (4) Underground. (5) Open pit. (6) Open Pits and underground were based on a gold price of $1,300/oz, with the exception of the Pamoa Main pit (based on a gold price of $1,400/oz) and the Pamoa South pit (based on a gold price of $1,500/oz). |
Mineral Resource | Category | Tonnes | Grade | Contained Gold | |||||||||||||
as at 31 December 2022 | million | g/t | tonnes | Moz | |||||||||||||
Obuasi | Measured | 1.96 | 8.44 | 16.59 | 0.53 | ||||||||||||
Indicated | 27.66 | 6.06 | 167.59 | 5.39 | |||||||||||||
Measured & Indicated | 29.63 | 6.22 | 184.18 | 5.92 | |||||||||||||
Inferred | 39.80 | 8.50 | 338.17 | 10.87 |
as at 31 December 2022 | Obuasi | |||||||||||||
Category | Measured | Indicated | Measured and Indicated total | Inferred | ||||||||||
Previous Year | 0.66 | 5.84 | 6.50 | 12.05 | ||||||||||
Depletion | — | — | — | — | ||||||||||
Exploration | — | — | — | (0.06) | ||||||||||
Methodology | 0.02 | 0.28 | 0.30 | (0.53) | ||||||||||
Price | 0.02 | 0.58 | 0.60 | 1.11 | ||||||||||
Cost | (0.17) | (0.97) | (1.14) | (1.31) | ||||||||||
Geotechnical | — | — | — | — | ||||||||||
Metallurgical | — | — | — | — | ||||||||||
Acquisition / Disposal | — | — | — | — | ||||||||||
Other | — | (0.33) | (0.33) | (0.37) | ||||||||||
Current Year | 0.53 | 5.39 | 5.92 | 10.87 | ||||||||||
Net Difference | (0.12) | (0.45) | (0.57) | (1.17) | ||||||||||
% Difference | (19) | (8) | (9) | (10) |
Obuasi | Unit | Underground | ||||||
Costs | ||||||||
Mining cost | $/tonne mined | 64.26-79.44(1) | ||||||
Processing cost | $/tonne treated | 42.57 | ||||||
G&A | $/tonne treated | 21.96 | ||||||
Other Parameters | ||||||||
Royalties | % | 3.0 | ||||||
MSO(2) optimising cut-off | g/t | 3.43-3.75(1) | ||||||
Mineral Resource cut-off grade | g/t | 3.43-3.75(1) | ||||||
Mineral Resource price | $/oz | 1,600-1,750(3)(4) | ||||||
Metallurgical Recovery Factor | %MetRF | 87 | ||||||
Notes: (1) Vary according to area. (2) Datamine Mineable Shape Optimiser ("MSO"). (3) Open pit based on a gold price of $1,600/oz, Underground based on a gold price of $1,750/oz. (4) AngloGold Ashanti has determined that there is no material change to the Mineral Resource reported in the 2021 Technical Report Summary for Obuasi (effective date: 31 December 2021) filed as Exhibit 19.15.5 hereto if this updated gold price is used (instead of $1,500, the gold price used to estimate the Mineral Resource in 2021). |
Mineral Reserve | Category | Tonnes | Grade | Contained Gold | |||||||||||||
as at 31 December 2022 | million | g/t | tonnes | Moz | |||||||||||||
Obuasi | Proven | 4.47 | 9.55 | 42.73 | 1.37 | ||||||||||||
Probable | 21.25 | 9.26 | 196.67 | 6.32 | |||||||||||||
Total | 25.72 | 9.31 | 239.40 | 7.70 |
as at 31 December 2022 | Obuasi | ||||||||||
Category | Proven | Probable | Total | ||||||||
Previous Year | 1.19 | 7.08 | 8.26 | ||||||||
Depletion | (0.23) | — | (0.23) | ||||||||
Exploration | — | (0.77) | (0.77) | ||||||||
Methodology | 0.54 | — | 0.54 | ||||||||
Price | 0.11 | 1.49 | 1.60 | ||||||||
Cost | (0.23) | (1.48) | (1.71) | ||||||||
Geotechnical | — | — | — | ||||||||
Metallurgical | — | — | — | ||||||||
Operational | — | — | — | ||||||||
Other | — | — | — | ||||||||
Acquisition / Disposal | — | — | — | ||||||||
Current Year | 1.37 | 6.32 | 7.70 | ||||||||
Net Difference | 0.19 | (0.75) | (0.57) | ||||||||
% Difference | 16 | (11) | (7) |
as at 31 December 2022 | Obuasi | |||||||
Primary Commodity Price | $/oz | 1400(1) | ||||||
Cut-off grade | g/t | 4.29-4.69(2) | ||||||
as at 31 December 2022 | Obuasi | |||||||
Dilution | % | 12-17(2) | ||||||
Mining Recovery Factor | %MRF based on tonnes | 95-98(2) | ||||||
Mining Recovery Factor | %MRF based on g/t | 100 | ||||||
Mine Call Factor | %MCF | 100 | ||||||
Metallurgical Recovery Factor | %MetRF | 87 | ||||||
Notes: (1) AngloGold Ashanti has determined that there is no material change to the Mineral Reserve reported in the 2021 Technical Report Summary for Obuasi (effective date: 31 December 2021) filed as Exhibit 19.15.5 hereto if this updated gold price is used (instead of $1,200, the gold price used to estimate the Mineral Reserve in 2021). (2) Vary according to area. |
Mineral Resource | Category | Tonnes | Grade | Contained Gold | |||||||||||||
as at 31 December 2022 | million | g/t | tonnes | Moz | |||||||||||||
Geita | Measured | 1.80 | 4.15 | 7.50 | 0.24 | ||||||||||||
Indicated | 40.32 | 2.03 | 81.96 | 2.63 | |||||||||||||
Measured & Indicated | 42.12 | 2.12 | 89.45 | 2.88 | |||||||||||||
Inferred | 36.21 | 2.64 | 95.71 | 3.08 |
as at 31 December 2022 | Geita | |||||||||||||
Category | Measured | Indicated | Measured and Indicated total | Inferred | ||||||||||
Previous Year | 0.21 | 1.87 | 2.08 | 3.26 | ||||||||||
Depletion | — | — | — | — | ||||||||||
Exploration | 0.02 | 0.09 | 0.11 | 0.12 | ||||||||||
Methodology | 0.03 | 0.49 | 0.52 | (0.57) | ||||||||||
Price | 0.01 | 0.17 | 0.18 | 0.19 | ||||||||||
Cost | (0.03) | 0.19 | 0.16 | 0.07 | ||||||||||
Geotechnical | — | — | — | — | ||||||||||
Metallurgical | — | 0.02 | 0.02 | 0.02 | ||||||||||
Acquisition / Disposal | — | — | — | — | ||||||||||
Other | — | (0.20) | (0.20) | — | ||||||||||
Current Year | 0.24 | 2.63 | 2.88 | 3.08 | ||||||||||
Net Difference | 0.03 | 0.77 | 0.80 | (0.18) | ||||||||||
% Difference | 16 | 41 | 38 | (6) |
Geita | Unit | Open Pit | ||||||
Costs | ||||||||
Ore mining cost | $/tonne mined | 3.3 | ||||||
Waste mining cost | $/tonne mined | 3.3 | ||||||
Material handling | $/tonne mined | 2.03 | ||||||
Processing cost | $/tonne treated | 18.63 | ||||||
G&A | $/tonne treated | 8.43 | ||||||
Other Parameters | ||||||||
Metallurgical Recovery Factor | %MetRF | 89 | ||||||
Slope angles | degree | 55 | ||||||
Mineral Resource cut-off grade | g/t | 0.65 | ||||||
Mineral Resource price | $/oz | 1,750 | ||||||
Royalties | % | 7.3 |
Geita | Unit | Underground | ||||||
Costs | ||||||||
Production (Mining cost) | $/tonne ore mined | 47.68-82.88(1) | ||||||
Mine Services | $/tonne ore mined | 21.97-25.78(1) | ||||||
Processing cost | $/tonne treated | 18.46-19.11(2) | ||||||
Other Parameters | ||||||||
Mineral Resource cut-off grade | g/t | 1.86-3.01(2) | ||||||
Mineral Resource price | $/oz | 1,750 | ||||||
Metallurgical Recovery Factor | %MetRF | 70.4-91.4(1) | ||||||
Royalties | % | 7.3 | ||||||
Notes: (1) Mining cost includes backfilling at Nyankanga, and material handling costs. (2) Variable according to area. (3) %MetRF: Ridge 8, 70.4%, Star and Comet Cut 5, 80.4%, Star and Comet Cut 2, 88.3%, Star and Comet Cut 3, 88.4%, Geita Hill 87.2%, Nyankanga Block 5, 89.8%, Nyankanga Block 1, 2, 3 and 4, 91.4%. (4) Datamine Mineable Shape Optimiser ("MSO"). |
Mineral Reserve | Category | Tonnes | Grade | Contained Gold | |||||||||||||
as at 31 December 2022 | million | g/t | tonnes | Moz | |||||||||||||
Geita | Proven | 9.54 | 1.02 | 9.70 | 0.31 | ||||||||||||
Probable | 38.95 | 2.60 | 101.19 | 3.25 | |||||||||||||
Total | 48.49 | 2.29 | 110.89 | 3.57 |
as at 31 December 2022 | Geita | ||||||||||
Category | Proven | Probable | Total | ||||||||
Previous Year | 0.09 | 2.55 | 2.65 | ||||||||
Depletion | (0.06) | (0.49) | (0.55) | ||||||||
Exploration | — | 0.87 | 0.87 | ||||||||
Methodology | — | — | — | ||||||||
Price | — | 0.40 | 0.40 | ||||||||
Cost | 0.18 | 0.06 | 0.25 | ||||||||
Geotechnical | — | — | — | ||||||||
Metallurgical | — | — | — | ||||||||
Operational | 0.04 | (0.10) | (0.06) | ||||||||
Other | 0.06 | (0.04) | 0.02 | ||||||||
Acquisition / Disposal | — | — | — | ||||||||
Current Year | 0.31 | 3.25 | 3.57 | ||||||||
Net Difference | 0.22 | 0.70 | 0.92 | ||||||||
% Difference | 241 | 27 | 35 |
as at 31 December 2022 | Geita | |||||||
Primary Commodity Price | $/oz | 1,400 | ||||||
Cut-off grade | g/t | 0.70(2)-4.20(3) | ||||||
Stoping width | cm | 450-2,500(3) | ||||||
Dilution | % | 11.6(2);10-17(3) | ||||||
Resource Modification Factor | %RMF based on tonnes | 99.5(2)-100(3) | ||||||
Resource Modification Factor | %RMF based on g/t | 93(2)-100(3) | ||||||
Mining Recovery Factor | %MRF based on tonnes | 86-100(1) | ||||||
Mining Recovery Factor | %MRF based on g/t | 86-100(1) | ||||||
Mine Call Factor | %MCF | 100 | ||||||
Metallurgical Recovery Factor | %MetRF | 80.4-91.4(1) | ||||||
Notes: (1) Vary according to rock type / area. (2) Open pit. (3) Underground. |
Attributable gold production (000oz) | Average number of employees | ||||||||||
Subsidiary operations | |||||||||||
Ghana | |||||||||||
Iduapriem | 248 | 2,186 | |||||||||
Obuasi | 250 | 4,403 | |||||||||
Guinea | |||||||||||
Attr. Siguiri 85% | 279 | 4,052 | |||||||||
Tanzania | |||||||||||
Geita | 521 | 6,435 | |||||||||
Joint venture operations | |||||||||||
Democratic Republic of the Congo | |||||||||||
Attr. Kibali 45% | 337 | 2,731 | |||||||||
Unit | 2022 | 2021 | 2020 | ||||||||||||||||||||
Restated | |||||||||||||||||||||||
Subsidiary operations | |||||||||||||||||||||||
Tonnes treated/milled | Mt | 21.6 | 21.2 | 20.5 | |||||||||||||||||||
Pay limit | oz/t | 0.044 | 0.035 | 0.034 | |||||||||||||||||||
g/t | 1.516 | 1.193 | 1.160 | ||||||||||||||||||||
Recovered grade | oz/t | 0.054 | 0.045 | 0.052 | |||||||||||||||||||
g/t | 1.86 | 1.54 | 1.77 | ||||||||||||||||||||
Gold production (a) (attributable) | 000oz | 1,298 | 1,054 | 1,239 | |||||||||||||||||||
Cost of sales | $m | 1,662 | 1,300 | 1,362 | |||||||||||||||||||
Total cash costs per ounce (1) | $/oz | 1,023 | 991 | 841 | |||||||||||||||||||
All-in sustaining costs per ounce(1) | $/oz | 1,291 | 1,264 | 1,002 | |||||||||||||||||||
Capital expenditure | $m | 486 | 434 | 383 | |||||||||||||||||||
Safety | |||||||||||||||||||||||
Number of fatalities | 0 | 1 | 2 | ||||||||||||||||||||
TRIFR | Per million hours worked | 0.33 | 0.61 | 0.55 | |||||||||||||||||||
People | |||||||||||||||||||||||
Average no of employees: Total | 17,076 | 14,806 | 14,496 | ||||||||||||||||||||
Permanent employees | 5,780 | 5,619 | 5,433 | ||||||||||||||||||||
Contractors | 11,296 | 9,187 | 9,063 |
Unit | 2022 | 2021 | 2020 | ||||||||||||||||||||
Joint venture operations | |||||||||||||||||||||||
Tonnes treated/milled | Mt | 3.5 | 3.5 | 3.4 | |||||||||||||||||||
Pay limit | oz/t | 0.054 | 0.048 | 0.048 | |||||||||||||||||||
g/t | 1.850 | 1.652 | 1.640 | ||||||||||||||||||||
Recovered grade | oz/t | 0.087 | 0.095 | 0.096 | |||||||||||||||||||
g/t | 2.98 | 3.25 | 3.29 | ||||||||||||||||||||
Gold production (attributable) | 000oz | 337 | 365 | 364 | |||||||||||||||||||
Cost of sales | $m | 342 | 350 | 340 | |||||||||||||||||||
Total cash costs per ounce (1) | $/oz | 725 | 647 | 629 | |||||||||||||||||||
All-in sustaining costs per ounce(1) | $/oz | 979 | 856 | 810 | |||||||||||||||||||
Capital expenditure | $m | 90 | 72 | 52 | |||||||||||||||||||
People | |||||||||||||||||||||||
Average no of employees: Total | 2,731 | 2,454 | 2,333 | ||||||||||||||||||||
Permanent employees | 957 | 860 | 824 | ||||||||||||||||||||
Contractors | 1,774 | 1,594 | 1,509 |
Attributable gold production (000oz) | Average number of employees | ||||||||||
Operations | |||||||||||
1. Argentina | |||||||||||
Cerro Vanguardia (Attr. 92.5%) | 170 | 1,819 | |||||||||
2. Brazil | |||||||||||
AGA Mineração | 311 | 5,702 | |||||||||
Serra Grande | 88 | 1,977 |
Unit | 2022 | 2021 | 2020 | ||||||||||||||||||||
Operation | |||||||||||||||||||||||
Tonnes treated/milled | Mt | 7.1 | 7.8 | 7.5 | |||||||||||||||||||
Pay limit | oz/t | 0.10 | 0.10 | 0.07 | |||||||||||||||||||
g/t | 3.52 | 3.49 | 2.46 | ||||||||||||||||||||
Recovered grade | oz/t | 0.070 | 0.066 | 0.081 | |||||||||||||||||||
g/t | 2.40 | 2.27 | 2.77 | ||||||||||||||||||||
Gold production (attributable) | 000oz | 569 | 559 | 649 | |||||||||||||||||||
Silver production (attributable) | Moz | 3.2 | 3.4 | 3.3 | |||||||||||||||||||
Cost of sales | $m | 913 | 822 | 764 | |||||||||||||||||||
Total cash costs per ounce (1) | $/oz | 1,078 | 921 | 721 | |||||||||||||||||||
All-in sustaining costs per ounce (1) | $/oz | 1,718 | 1,587 | 1,003 | |||||||||||||||||||
Capital expenditure (2) | $m | 339 | 398 | 216 | |||||||||||||||||||
Safety | |||||||||||||||||||||||
Number of fatalities | 0 | 1 | 0 | ||||||||||||||||||||
TRIFR | Per million hours worked | 2.33 | 3.55 | 3.68 | |||||||||||||||||||
People | |||||||||||||||||||||||
Average no of employees: Total | 9,498 | 9,972 | 8,789 | ||||||||||||||||||||
Permanent employees | 6,093 | 6,452 | 6,158 | ||||||||||||||||||||
Contractors | 3,405 | 3,520 | 2,631 |
Attributable gold production (000oz) | Average number of employees | ||||||||||
Operations | |||||||||||
Australia | |||||||||||
1. Sunrise Dam | 232 | 725 | |||||||||
2. Tropicana 70% | 306 | 807 |
Unit | 2022 | 2021 | 2020 | ||||||||||||||||||||
Operation | |||||||||||||||||||||||
Tonnes treated/milled | Mt | 10.7 | 10.5 | 10.2 | |||||||||||||||||||
Pay limit | oz/t | 0.05 | 0.06 | 0.06 | |||||||||||||||||||
g/t | 1.69 | 1.89 | 1.95 | ||||||||||||||||||||
Recovered grade | oz/t | 0.050 | 0.047 | 0.054 | |||||||||||||||||||
g/t | 1.56 | 1.47 | 1.68 | ||||||||||||||||||||
Gold production (attributable) | 000oz | 538 | 494 | 554 | |||||||||||||||||||
Cost of sales | $m | 783 | 740 | 705 | |||||||||||||||||||
Total cash costs per ounce (1) | $/oz | 1,157 | 1,196 | 968 | |||||||||||||||||||
All-in sustaining costs per ounce(1) | $/oz | 1,345 | 1,500 | 1,225 | |||||||||||||||||||
Capital expenditure | $m | 202 | 185 | 142 | |||||||||||||||||||
Safety | |||||||||||||||||||||||
Number of fatalities | 0 | 0 | 0 | ||||||||||||||||||||
TRIFR | Per million hours worked | 3.82 | 6.59 | 3.74 | |||||||||||||||||||
People | |||||||||||||||||||||||
Average no of employees: Total | 1,532 | 1,332 | 1,230 | ||||||||||||||||||||
Permanent employees | 314 | 288 | 259 | ||||||||||||||||||||
Contractors | 1,218 | 1,044 | 971 |
Unit | 2022 | 2021 | 2020 | ||||||||||||||||||||
Operation | |||||||||||||||||||||||
Tonnes treated/milled | Mt | 0.4 | |||||||||||||||||||||
Pay limit (1) | oz/t | 0.40 | |||||||||||||||||||||
g/t | 14.60 | ||||||||||||||||||||||
Recovered grade (1) | oz/t | 0.120 | |||||||||||||||||||||
g/t | 3.75 | ||||||||||||||||||||||
Gold production | 000oz | 241 | |||||||||||||||||||||
Cost of sales | $m | 287 | |||||||||||||||||||||
Total cash costs per ounce (2) | $/oz | 1,149 | |||||||||||||||||||||
All-in sustaining costs per ounce(2) | $/oz | 1,296 | |||||||||||||||||||||
Capital expenditure | $m | 35 | |||||||||||||||||||||
Safety | |||||||||||||||||||||||
Number of fatalities | 4 | ||||||||||||||||||||||
TRIFR | Per million hours worked | 6.12 | |||||||||||||||||||||
People | |||||||||||||||||||||||
Average no of employees: Total | 8,297 | ||||||||||||||||||||||
Permanent employees | 7,012 | ||||||||||||||||||||||
Contractors | 1,285 |
Mineral Resource | Category | Tonnes | Grade | Contained Gold | |||||||||||||
as at 31 December 2022 | million | g/t | tonnes | Moz | |||||||||||||
Kibali (45 percent) | Measured | 7.22 | 3.18 | 22.97 | 0.74 | ||||||||||||
Indicated | 22.15 | 2.64 | 58.44 | 1.88 | |||||||||||||
Measured & Indicated | 29.37 | 2.77 | 81.41 | 2.62 | |||||||||||||
Inferred | 13.16 | 2.61 | 34.43 | 1.11 |
as at 31 December 2022 | Kibali | |||||||||||||
Category | Measured | Indicated | Measured and Indicated total | Inferred | ||||||||||
Previous Year | 0.78 | 1.76 | 2.54 | 0.89 | ||||||||||
Depletion | (0.01) | — | (0.01) | — | ||||||||||
Exploration | 0.01 | — | 0.01 | 0.10 | ||||||||||
Methodology | — | — | — | — | ||||||||||
Price | 0.03 | 0.16 | 0.19 | 0.13 | ||||||||||
Cost | (0.01) | (0.02) | (0.03) | (0.02) | ||||||||||
Geotechnical | (0.07) | (0.02) | (0.09) | — | ||||||||||
Metallurgical | — | 0.01 | 0.01 | 0.01 | ||||||||||
Acquisition / Disposal | — | — | — | — | ||||||||||
Other | — | — | — | — | ||||||||||
Current Year | 0.74 | 1.88 | 2.62 | 1.11 | ||||||||||
Net Difference | (0.04) | 0.12 | 0.08 | 0.22 | ||||||||||
% Difference | (5) | 7 | 3 | 24 |
Kibali | Unit | Open Pit | ||||||
Costs | ||||||||
Waste cost | $/tonne mined | 2.92-3.09(1) | ||||||
Extra Ore Cost – Grade Control + Ore – Rehandle + Overhaul | $/tonne mined | 1.27 | ||||||
Grade Control cost | $/tonne mined | 0.75 | ||||||
Dilution | % | 10 | ||||||
Ore Loss | % | 3 | ||||||
Processing cost | $/tonne milled | 15.04-17.85(1) | ||||||
G&A | $/tonne milled | 8.47 | ||||||
Other Parameters | ||||||||
Gold Royalties (4.7%) | $/oz | 70.50 | ||||||
Metallurgical Recovery Factor | %MetRF | 86.1-90.1(1) | ||||||
Mineral Resource cut-off grade | g/t | 0.6-0.7(1) |
Kibali | Unit | Open Pit | ||||||
Mineral Resource price | $/oz | 1,700 (2) | ||||||
Notes: AngloGold Ashanti has recognised that in preparing this annual report, the Qualified Persons have relied on information provided by Barrick. (1) Vary according to rock type. (2) AngloGold Ashanti has determined that there is no material change to the Mineral Resource reported in the 2021 Technical Report Summary for Kibali (effective date: 31 December 2021) filed as Exhibit 19.15.7 hereto if this updated gold price is used (instead of $1,500, the gold price used to estimate the Mineral Resource in 2021). |
Kibali | Unit | Underground | ||||||
Costs | ||||||||
Mine Production | $/tonne ore mined | 36.17 | ||||||
Capital | $/tonne ore mined | 3.97 | ||||||
G&A | $/tonne ore milled | 8.47 | ||||||
Processing cost | $/tonne ore milled | 17.85 | ||||||
Other Parameters | ||||||||
Gold Royalties (4.7%) | $/oz | 70.50 | ||||||
Mining cut-off grade | g/t | 1.62 | ||||||
Mineral Resource price | $/oz | 1,700 (1) | ||||||
Metallurgical Recovery Factor | %MetRF | 90 | ||||||
Notes: AngloGold Ashanti has recognised that in preparing this report, the Qualified Persons have relied on information provided by Barrick. (1) AngloGold Ashanti has determined that there is no material change to the Mineral Resource reported in the 2021 Technical Report Summary for Kibali (effective date: 31 December 2021) filed as Exhibit 19.15.7 hereto if this updated gold price is used (instead of $1,500, the gold price used to estimate the Mineral Resource in 2021). |
Mineral Reserve | Category | Tonnes | Grade | Contained Gold | |||||||||||||
as at 31 December 2022 | million | g/t | tonnes | Moz | |||||||||||||
Kibali (45 percent) | Proven | 14.49 | 3.47 | 50.33 | 1.62 | ||||||||||||
Probable | 29.17 | 3.15 | 91.86 | 2.95 | |||||||||||||
Total | 43.67 | 3.26 | 142.19 | 4.57 |
as at 31 December 2022 | Kibali | ||||||||||
Category | Proven | Probable | Total | ||||||||
Previous Year | 1.74 | 2.59 | 4.33 | ||||||||
Depletion | (0.28) | (0.12) | (0.40) | ||||||||
Exploration | 0.11 | 0.42 | 0.53 | ||||||||
Methodology | — | — | — | ||||||||
Price | 0.03 | 0.12 | 0.15 | ||||||||
Cost | (0.01) | (0.03) | (0.04) | ||||||||
Geotechnical | — | — | — | ||||||||
Metallurgical | — | — | — | ||||||||
Operational | 0.03 | — | 0.03 | ||||||||
Other | — | (0.03) | (0.03) | ||||||||
Acquisition / Disposal | — | — | — | ||||||||
Current Year | 1.62 | 2.95 | 4.57 | ||||||||
Net Difference | (0.12) | 0.36 | 0.24 | ||||||||
% Difference | (7) | 14 | 6 |
as at 31 December 2022 | Kibali | |||||||
Primary Commodity Price | $/oz | 1,300(1)(6) | ||||||
Cut-off grade | g/t | 1.50(3)(5); 1.96(4) | ||||||
Stoping width | cm | 2990(4) | ||||||
Dilution | % | 2.0-12.5(4); 10(5) | ||||||
Mining Recovery Factor | MRF based on tonnes (%) | 91.6(4); 97(5) | ||||||
Mine Call Factor | MCF (%) | 97 | ||||||
Metallurgical Recovery Factor | MetRF (%) | 89-90(2) | ||||||
Notes: AngloGold Ashanti has recognised that in preparing this annual report, the Qualified Persons have, relied on information provided by Barrick. (1) AngloGold Ashanti has determined that there is no material change to the Mineral Reserve reported in the 2021 Technical Report Summary for Kibali (effective date: 31 December 2021) filed as Exhibit 19.15.7 hereto if this updated gold price is used (instead of $1,200, the gold price used to estimate the Mineral Reserve in 2021). (2) Vary according to rock type. (3) Stockpile. (4) Underground. (5) Open pit. (6) Open Pits and underground were based on a gold price of $1,300/oz, with the exception of the Pamoa Main pit (based on a gold price of $1,400/oz) and the Pamoa South pit (based on a gold price of $1,500/oz). |
Mineral Resource | Category | Tonnes | Grade | Contained Gold | |||||||||||||
as at 31 December 2022 | million | g/t | tonnes | Moz | |||||||||||||
Obuasi | Measured | 1.96 | 8.44 | 16.59 | 0.53 | ||||||||||||
Indicated | 27.66 | 6.06 | 167.59 | 5.39 | |||||||||||||
Measured & Indicated | 29.63 | 6.22 | 184.18 | 5.92 | |||||||||||||
Inferred | 39.80 | 8.50 | 338.17 | 10.87 |
as at 31 December 2022 | Obuasi | |||||||||||||
Category | Measured | Indicated | Measured and Indicated total | Inferred | ||||||||||
Previous Year | 0.66 | 5.84 | 6.50 | 12.05 | ||||||||||
Depletion | — | — | — | — | ||||||||||
Exploration | — | — | — | (0.06) | ||||||||||
Methodology | 0.02 | 0.28 | 0.30 | (0.53) | ||||||||||
Price | 0.02 | 0.58 | 0.60 | 1.11 | ||||||||||
Cost | (0.17) | (0.97) | (1.14) | (1.31) | ||||||||||
Geotechnical | — | — | — | — | ||||||||||
Metallurgical | — | — | — | — | ||||||||||
Acquisition / Disposal | — | — | — | — | ||||||||||
Other | — | (0.33) | (0.33) | (0.37) | ||||||||||
Current Year | 0.53 | 5.39 | 5.92 | 10.87 | ||||||||||
Net Difference | (0.12) | (0.45) | (0.57) | (1.17) | ||||||||||
% Difference | (19) | (8) | (9) | (10) |
Obuasi | Unit | Underground | ||||||
Costs | ||||||||
Mining cost | $/tonne mined | 64.26-79.44(1) | ||||||
Processing cost | $/tonne treated | 42.57 | ||||||
G&A | $/tonne treated | 21.96 | ||||||
Other Parameters | ||||||||
Royalties | % | 3.0 | ||||||
MSO(2) optimising cut-off | g/t | 3.43-3.75(1) | ||||||
Mineral Resource cut-off grade | g/t | 3.43-3.75(1) | ||||||
Mineral Resource price | $/oz | 1,600-1,750(3)(4) | ||||||
Metallurgical Recovery Factor | %MetRF | 87 | ||||||
Notes: (1) Vary according to area. (2) Datamine Mineable Shape Optimiser ("MSO"). (3) Open pit based on a gold price of $1,600/oz, Underground based on a gold price of $1,750/oz. (4) AngloGold Ashanti has determined that there is no material change to the Mineral Resource reported in the 2021 Technical Report Summary for Obuasi (effective date: 31 December 2021) filed as Exhibit 19.15.5 hereto if this updated gold price is used (instead of $1,500, the gold price used to estimate the Mineral Resource in 2021). |
Mineral Reserve | Category | Tonnes | Grade | Contained Gold | |||||||||||||
as at 31 December 2022 | million | g/t | tonnes | Moz | |||||||||||||
Obuasi | Proven | 4.47 | 9.55 | 42.73 | 1.37 | ||||||||||||
Probable | 21.25 | 9.26 | 196.67 | 6.32 | |||||||||||||
Total | 25.72 | 9.31 | 239.40 | 7.70 |
as at 31 December 2022 | Obuasi | ||||||||||
Category | Proven | Probable | Total | ||||||||
Previous Year | 1.19 | 7.08 | 8.26 | ||||||||
Depletion | (0.23) | — | (0.23) | ||||||||
Exploration | — | (0.77) | (0.77) | ||||||||
Methodology | 0.54 | — | 0.54 | ||||||||
Price | 0.11 | 1.49 | 1.60 | ||||||||
Cost | (0.23) | (1.48) | (1.71) | ||||||||
Geotechnical | — | — | — | ||||||||
Metallurgical | — | — | — | ||||||||
Operational | — | — | — | ||||||||
Other | — | — | — | ||||||||
Acquisition / Disposal | — | — | — | ||||||||
Current Year | 1.37 | 6.32 | 7.70 | ||||||||
Net Difference | 0.19 | (0.75) | (0.57) | ||||||||
% Difference | 16 | (11) | (7) |
as at 31 December 2022 | Obuasi | |||||||
Primary Commodity Price | $/oz | 1400(1) | ||||||
Cut-off grade | g/t | 4.29-4.69(2) | ||||||
as at 31 December 2022 | Obuasi | |||||||
Dilution | % | 12-17(2) | ||||||
Mining Recovery Factor | %MRF based on tonnes | 95-98(2) | ||||||
Mining Recovery Factor | %MRF based on g/t | 100 | ||||||
Mine Call Factor | %MCF | 100 | ||||||
Metallurgical Recovery Factor | %MetRF | 87 | ||||||
Notes: (1) AngloGold Ashanti has determined that there is no material change to the Mineral Reserve reported in the 2021 Technical Report Summary for Obuasi (effective date: 31 December 2021) filed as Exhibit 19.15.5 hereto if this updated gold price is used (instead of $1,200, the gold price used to estimate the Mineral Reserve in 2021). (2) Vary according to area. |
Mineral Resource | Category | Tonnes | Grade | Contained Gold | |||||||||||||
as at 31 December 2022 | million | g/t | tonnes | Moz | |||||||||||||
Geita | Measured | 1.80 | 4.15 | 7.50 | 0.24 | ||||||||||||
Indicated | 40.32 | 2.03 | 81.96 | 2.63 | |||||||||||||
Measured & Indicated | 42.12 | 2.12 | 89.45 | 2.88 | |||||||||||||
Inferred | 36.21 | 2.64 | 95.71 | 3.08 |
as at 31 December 2022 | Geita | |||||||||||||
Category | Measured | Indicated | Measured and Indicated total | Inferred | ||||||||||
Previous Year | 0.21 | 1.87 | 2.08 | 3.26 | ||||||||||
Depletion | — | — | — | — | ||||||||||
Exploration | 0.02 | 0.09 | 0.11 | 0.12 | ||||||||||
Methodology | 0.03 | 0.49 | 0.52 | (0.57) | ||||||||||
Price | 0.01 | 0.17 | 0.18 | 0.19 | ||||||||||
Cost | (0.03) | 0.19 | 0.16 | 0.07 | ||||||||||
Geotechnical | — | — | — | — | ||||||||||
Metallurgical | — | 0.02 | 0.02 | 0.02 | ||||||||||
Acquisition / Disposal | — | — | — | — | ||||||||||
Other | — | (0.20) | (0.20) | — | ||||||||||
Current Year | 0.24 | 2.63 | 2.88 | 3.08 | ||||||||||
Net Difference | 0.03 | 0.77 | 0.80 | (0.18) | ||||||||||
% Difference | 16 | 41 | 38 | (6) |
Geita | Unit | Open Pit | ||||||
Costs | ||||||||
Ore mining cost | $/tonne mined | 3.3 | ||||||
Waste mining cost | $/tonne mined | 3.3 | ||||||
Material handling | $/tonne mined | 2.03 | ||||||
Processing cost | $/tonne treated | 18.63 | ||||||
G&A | $/tonne treated | 8.43 | ||||||
Other Parameters | ||||||||
Metallurgical Recovery Factor | %MetRF | 89 | ||||||
Slope angles | degree | 55 | ||||||
Mineral Resource cut-off grade | g/t | 0.65 | ||||||
Mineral Resource price | $/oz | 1,750 | ||||||
Royalties | % | 7.3 |
Geita | Unit | Underground | ||||||
Costs | ||||||||
Production (Mining cost) | $/tonne ore mined | 47.68-82.88(1) | ||||||
Mine Services | $/tonne ore mined | 21.97-25.78(1) | ||||||
Processing cost | $/tonne treated | 18.46-19.11(2) | ||||||
Other Parameters | ||||||||
Mineral Resource cut-off grade | g/t | 1.86-3.01(2) | ||||||
Mineral Resource price | $/oz | 1,750 | ||||||
Metallurgical Recovery Factor | %MetRF | 70.4-91.4(1) | ||||||
Royalties | % | 7.3 | ||||||
Notes: (1) Mining cost includes backfilling at Nyankanga, and material handling costs. (2) Variable according to area. (3) %MetRF: Ridge 8, 70.4%, Star and Comet Cut 5, 80.4%, Star and Comet Cut 2, 88.3%, Star and Comet Cut 3, 88.4%, Geita Hill 87.2%, Nyankanga Block 5, 89.8%, Nyankanga Block 1, 2, 3 and 4, 91.4%. (4) Datamine Mineable Shape Optimiser ("MSO"). |
Mineral Reserve | Category | Tonnes | Grade | Contained Gold | |||||||||||||
as at 31 December 2022 | million | g/t | tonnes | Moz | |||||||||||||
Geita | Proven | 9.54 | 1.02 | 9.70 | 0.31 | ||||||||||||
Probable | 38.95 | 2.60 | 101.19 | 3.25 | |||||||||||||
Total | 48.49 | 2.29 | 110.89 | 3.57 |
as at 31 December 2022 | Geita | ||||||||||
Category | Proven | Probable | Total | ||||||||
Previous Year | 0.09 | 2.55 | 2.65 | ||||||||
Depletion | (0.06) | (0.49) | (0.55) | ||||||||
Exploration | — | 0.87 | 0.87 | ||||||||
Methodology | — | — | — | ||||||||
Price | — | 0.40 | 0.40 | ||||||||
Cost | 0.18 | 0.06 | 0.25 | ||||||||
Geotechnical | — | — | — | ||||||||
Metallurgical | — | — | — | ||||||||
Operational | 0.04 | (0.10) | (0.06) | ||||||||
Other | 0.06 | (0.04) | 0.02 | ||||||||
Acquisition / Disposal | — | — | — | ||||||||
Current Year | 0.31 | 3.25 | 3.57 | ||||||||
Net Difference | 0.22 | 0.70 | 0.92 | ||||||||
% Difference | 241 | 27 | 35 |
as at 31 December 2022 | Geita | |||||||
Primary Commodity Price | $/oz | 1,400 | ||||||
Cut-off grade | g/t | 0.70(2)-4.20(3) | ||||||
Stoping width | cm | 450-2,500(3) | ||||||
Dilution | % | 11.6(2);10-17(3) | ||||||
Resource Modification Factor | %RMF based on tonnes | 99.5(2)-100(3) | ||||||
Resource Modification Factor | %RMF based on g/t | 93(2)-100(3) | ||||||
Mining Recovery Factor | %MRF based on tonnes | 86-100(1) | ||||||
Mining Recovery Factor | %MRF based on g/t | 86-100(1) | ||||||
Mine Call Factor | %MCF | 100 | ||||||
Metallurgical Recovery Factor | %MetRF | 80.4-91.4(1) | ||||||
Notes: (1) Vary according to rock type / area. (2) Open pit. (3) Underground. |
2020 | 2020 | 2019 | Units | ||||||||||||||||||||
(3 year average) | (Ore Reserve) | (3 year average) | |||||||||||||||||||||
Ore Reserve Gold Price | 1,479 | 1,200 | 1,307 | $ per ounce |
2020 | 2020 | 2019 | Units | ||||||||||||||||||||||||||||||||
(3 year average) | (Ore Reserve) | (3 year average) | |||||||||||||||||||||||||||||||||
Ore Reserve Copper Price | 2.82 | 2.65 | 2.83 | $ per pound |
Local prices of gold(1) | |||||||||||||||||
Gold price(1) | Australia | Brazil | Argentina | Colombia | |||||||||||||
$/oz | AUD/oz | BRL/oz | ARS/oz | COP/oz | |||||||||||||
Mineral Reserve | |||||||||||||||||
2022 | 1,400 | 1,919 | 7,830 | 208,000 | 4,261,380 | ||||||||||||
2021 | 1,200 | 1,633 | 6,182 | 134,452 | 3,849,000 | ||||||||||||
Mineral Resource | |||||||||||||||||
2022 | 1,750 | 2,416 | 9,401 | 253,500 | 6,076,725 | ||||||||||||
2021 | 1,500 | 2,072 | 7,940 | 173,065 | 5,336,250 |
Copper price(1)(2) | Local price of copper(1)(2) | |||||||
$/lb | COP/lb | |||||||
Mineral Reserve | ||||||||
2022 | 2.90 | 9,302 | ||||||
2021 | 2.90 | 9,302 | ||||||
Mineral Resource | ||||||||
2022 | 3.50 | 12,451 | ||||||
2021 | 3.50 | 12,451 | ||||||
(*) The Mineral Resource exclusive of Mineral Reserve (“Exclusive Mineral Resource”) is defined as the Inclusive Mineral Resource less the Mineral Reserve before dilution and other factors are applied. | ||||||||
Mineral Resource (1) | Measured | Indicated | Measured and Indicated Total | Inferred | ||||||||||||||||||||||||||||||||||||||||||||||
Gold | Tonnes (3) | Grade | Contained Gold | Tonnes (3) | Grade | Contained Gold | Tonnes (3) | Grade | Contained Gold | Tonnes (3) | Grade | Contained Gold | ||||||||||||||||||||||||||||||||||||||
as at 31 December 2022 | Million | g/t | Tonnes | Moz | Million | g/t | Tonnes | Moz | Million | g/t | Tonnes | Moz | Million | g/t | Tonnes | Moz | ||||||||||||||||||||||||||||||||||
Africa Region | 11.14 | 4.23 | 47.19 | 1.52 | 259.42 | 1.93 | 499.44 | 16.06 | 270.57 | 2.02 | 546.63 | 17.57 | 201.72 | 3.01 | 607.95 | 19.55 | ||||||||||||||||||||||||||||||||||
Democratic Republic of the Congo | 7.22 | 3.18 | 22.97 | 0.74 | 22.15 | 2.64 | 58.44 | 1.88 | 29.37 | 2.77 | 81.41 | 2.62 | 13.16 | 2.61 | 34.43 | 1.11 | ||||||||||||||||||||||||||||||||||
Kibali (45 %)(2)(9)(13) | 7.22 | 3.18 | 22.97 | 0.74 | 22.15 | 2.64 | 58.44 | 1.88 | 29.37 | 2.77 | 81.41 | 2.62 | 13.16 | 2.61 | 34.43 | 1.11 | ||||||||||||||||||||||||||||||||||
Ghana | 2.12 | 7.89 | 16.72 | 0.54 | 82.17 | 2.94 | 241.81 | 7.77 | 84.28 | 3.07 | 258.53 | 8.31 | 73.25 | 5.27 | 385.68 | 12.40 | ||||||||||||||||||||||||||||||||||
Iduapriem(13) | 0.15 | 0.89 | 0.14 | — | 54.50 | 1.36 | 74.21 | 2.39 | 54.66 | 1.36 | 74.35 | 2.39 | 33.45 | 1.42 | 47.52 | 1.53 | ||||||||||||||||||||||||||||||||||
Obuasi(13)(14) | 1.96 | 8.44 | 16.59 | 0.53 | 27.66 | 6.06 | 167.59 | 5.39 | 29.63 | 6.22 | 184.18 | 5.92 | 39.80 | 8.50 | 338.17 | 10.87 | ||||||||||||||||||||||||||||||||||
Guinea | — | — | — | — | 114.79 | 1.02 | 117.24 | 3.77 | 114.79 | 1.02 | 117.24 | 3.77 | 79.10 | 1.16 | 92.13 | 2.96 | ||||||||||||||||||||||||||||||||||
Siguiri (85 %)(2)(13) | — | — | — | — | 114.79 | 1.02 | 117.24 | 3.77 | 114.79 | 1.02 | 117.24 | 3.77 | 79.10 | 1.16 | 92.13 | 2.96 | ||||||||||||||||||||||||||||||||||
Tanzania | 1.80 | 4.15 | 7.50 | 0.24 | 40.32 | 2.03 | 81.96 | 2.63 | 42.12 | 2.12 | 89.45 | 2.88 | 36.21 | 2.64 | 95.71 | 3.08 | ||||||||||||||||||||||||||||||||||
Geita(13) | 1.80 | 4.15 | 7.50 | 0.24 | 40.32 | 2.03 | 81.96 | 2.63 | 42.12 | 2.12 | 89.45 | 2.88 | 36.21 | 2.64 | 95.71 | 3.08 | ||||||||||||||||||||||||||||||||||
Americas Region | 16.88 | 4.20 | 70.94 | 2.28 | 41.41 | 2.77 | 114.85 | 3.69 | 58.29 | 3.19 | 185.78 | 5.97 | 61.85 | 3.57 | 220.98 | 7.10 | ||||||||||||||||||||||||||||||||||
Argentina | 4.82 | 2.88 | 13.89 | 0.45 | 17.49 | 2.23 | 39.09 | 1.26 | 22.31 | 2.37 | 52.98 | 1.70 | 5.00 | 2.35 | 11.74 | 0.38 | ||||||||||||||||||||||||||||||||||
Cerro Vanguardia (92.5 %)(2)(4)(13) | 4.82 | 2.88 | 13.89 | 0.45 | 17.49 | 2.23 | 39.09 | 1.26 | 22.31 | 2.37 | 52.98 | 1.70 | 5.00 | 2.35 | 11.74 | 0.38 | ||||||||||||||||||||||||||||||||||
Brazil | 12.06 | 4.73 | 57.05 | 1.83 | 23.92 | 3.17 | 75.76 | 2.44 | 35.98 | 3.69 | 132.80 | 4.27 | 56.85 | 3.68 | 209.24 | 6.73 | ||||||||||||||||||||||||||||||||||
AGA Mineração - Córrego do Sítio(13) | 3.07 | 3.31 | 10.18 | 0.33 | 7.92 | 3.19 | 25.24 | 0.81 | 10.99 | 3.22 | 35.42 | 1.14 | 20.46 | 3.94 | 80.63 | 2.59 | ||||||||||||||||||||||||||||||||||
AGA Mineração - Cuiabá(5)(13) | 4.17 | 7.66 | 31.96 | 1.03 | 2.73 | 5.83 | 15.93 | 0.51 | 6.91 | 6.93 | 47.89 | 1.54 | 12.56 | 4.95 | 62.20 | 2.00 | ||||||||||||||||||||||||||||||||||
AGA Mineração - Lamego(5)(13) | 1.18 | 2.92 | 3.44 | 0.11 | 3.05 | 1.98 | 6.05 | 0.19 | 4.23 | 2.24 | 9.49 | 0.31 | 4.56 | 2.12 | 9.65 | 0.31 | ||||||||||||||||||||||||||||||||||
Serra Grande(13) | 3.63 | 3.15 | 11.46 | 0.37 | 10.21 | 2.79 | 28.54 | 0.92 | 13.85 | 2.89 | 40.01 | 1.29 | 19.26 | 2.95 | 56.76 | 1.82 | ||||||||||||||||||||||||||||||||||
Australia Region | 38.85 | 1.44 | 55.96 | 1.80 | 30.58 | 1.58 | 48.40 | 1.56 | 69.44 | 1.50 | 104.36 | 3.36 | 55.36 | 2.25 | 124.79 | 4.01 | ||||||||||||||||||||||||||||||||||
Sunrise Dam(13) | 20.31 | 1.64 | 33.27 | 1.07 | 22.79 | 1.56 | 35.60 | 1.14 | 43.09 | 1.60 | 68.87 | 2.21 | 29.28 | 2.02 | 59.19 | 1.90 | ||||||||||||||||||||||||||||||||||
Butcher Well (70 %)(2)(11) | — | — | — | — | — | — | — | — | — | — | — | — | 3.06 | 3.49 | 10.67 | 0.34 | ||||||||||||||||||||||||||||||||||
Tropicana (70 %)(2)(13) | 18.55 | 1.22 | 22.69 | 0.73 | 7.79 | 1.64 | 12.80 | 0.41 | 26.34 | 1.35 | 35.49 | 1.14 | 23.02 | 2.39 | 54.93 | 1.77 | ||||||||||||||||||||||||||||||||||
Projects | 98.19 | 0.40 | 38.96 | 1.25 | 1,311.77 | 0.77 | 1,007.67 | 32.40 | 1,409.96 | 0.74 | 1,046.63 | 33.65 | 682.59 | 0.46 | 314.29 | 10.10 | ||||||||||||||||||||||||||||||||||
Colombia | 45.15 | 0.37 | 16.93 | 0.54 | 1,071.76 | 0.78 | 838.58 | 26.96 | 1,116.91 | 0.77 | 855.51 | 27.51 | 558.94 | 0.44 | 244.17 | 7.85 | ||||||||||||||||||||||||||||||||||
Gramalote (50 %)(2)(10)(11) | — | — | — | — | 89.36 | 0.70 | 62.38 | 2.01 | 89.36 | 0.70 | 62.38 | 2.01 | 35.11 | 0.53 | 18.67 | 0.60 | ||||||||||||||||||||||||||||||||||
La Colosa(7)(11) | — | — | — | — | 833.49 | 0.87 | 726.31 | 23.35 | 833.49 | 0.87 | 726.31 | 23.35 | 217.89 | 0.71 | 154.86 | 4.98 | ||||||||||||||||||||||||||||||||||
Quebradona(4)(6)(8)(12) | 45.15 | 0.37 | 16.93 | 0.54 | 148.91 | 0.34 | 49.89 | 1.60 | 194.06 | 0.34 | 66.82 | 2.15 | 305.94 | 0.23 | 70.64 | 2.27 | ||||||||||||||||||||||||||||||||||
United States of America | 53.04 | 0.42 | 22.04 | 0.71 | 240.01 | 0.70 | 169.09 | 5.44 | 293.05 | 0.65 | 191.12 | 6.14 | 123.65 | 0.57 | 70.13 | 2.25 | ||||||||||||||||||||||||||||||||||
North Bullfrog(4)(11) | 28.71 | 0.24 | 6.77 | 0.22 | 82.54 | 0.37 | 30.18 | 0.97 | 111.25 | 0.33 | 36.95 | 1.19 | 44.35 | 0.25 | 11.07 | 0.36 | ||||||||||||||||||||||||||||||||||
Silicon(4)(11) | — | — | — | — | 121.56 | 0.87 | 105.90 | 3.40 | 121.56 | 0.87 | 105.90 | 3.40 | 36.03 | 0.70 | 25.23 | 0.81 | ||||||||||||||||||||||||||||||||||
Mother Lode(4)(8)(11) | 24.33 | 0.63 | 15.26 | 0.49 | 35.91 | 0.92 | 33.01 | 1.06 | 60.24 | 0.80 | 48.28 | 1.55 | 9.86 | 0.55 | 5.39 | 0.17 | ||||||||||||||||||||||||||||||||||
Sterling(11)(15) | — | — | — | — | — | — | — | — | — | — | — | — | 33.41 | 0.85 | 28.43 | 0.91 | ||||||||||||||||||||||||||||||||||
AngloGold Ashanti Total | 165.06 | 1.29 | 213.05 | 6.85 | 1,643.18 | 1.02 | 1,670.35 | 53.70 | 1,808.25 | 1.04 | 1,883.40 | 60.55 | 1,001.52 | 1.27 | 1,268.02 | 40.77 |
ORE RESERVE - COPPER | Mt | Mlb | ||||||||||||
Ore Reserve as at 31 December 2019 | 1.39 | 3,068 | ||||||||||||
Additions | Due To | |||||||||||||
Quebradona | Results of the Mineral Resource estimation and mine plan update for the Feasibility study. | 0.02 | 37 | |||||||||||
Ore Reserve as at 31 December 2020 | 1.41 | 3,105 |
Mineral Resource (1) | Measured | Indicated | Measured and Indicated Total | Inferred | ||||||||||||||||||||||||||||||||||||||||||||||
Copper | Tonnes (2) | Grade | Contained Copper | Tonnes (2) | Grade | Contained Copper | Tonnes (2) | Grade | Contained Copper | Tonnes (2) | Grade | Contained Copper | ||||||||||||||||||||||||||||||||||||||
as at 31 December 2022 | Million | %Cu | Tonnes Million | Pounds Million | Million | %Cu | Tonnes Million | Pounds Million | Million | %Cu | Tonnes Million | Pounds Million | Million | %Cu | Tonnes Million | Pounds Million | ||||||||||||||||||||||||||||||||||
Americas Region | 45.15 | 0.69 | 0.31 | 684 | 148.91 | 0.68 | 1.01 | 2,218 | 194.06 | 0.68 | 1.32 | 2,902 | 305.94 | 0.48 | 1.47 | 3,231 | ||||||||||||||||||||||||||||||||||
Colombia | 45.15 | 0.69 | 0.31 | 684 | 148.91 | 0.68 | 1.01 | 2,218 | 194.06 | 0.68 | 1.32 | 2,902 | 305.94 | 0.48 | 1.47 | 3,231 | ||||||||||||||||||||||||||||||||||
Quebradona(3)(4)(5) | 45.15 | 0.69 | 0.31 | 684 | 148.91 | 0.68 | 1.01 | 2,218 | 194.06 | 0.68 | 1.32 | 2,902 | 305.94 | 0.48 | 1.47 | 3,231 | ||||||||||||||||||||||||||||||||||
AngloGold Ashanti Total | 45.15 | 0.69 | 0.31 | 684 | 148.91 | 0.68 | 1.01 | 2,218 | 194.06 | 0.68 | 1.32 | 2,902 | 305.94 | 0.48 | 1.47 | 3,231 |
Mineral Reserve | Proven | Probable | Total Mineral Reserve | |||||||||||||||||||||||||||||||||||
Gold | Tonnes (2) | Grade | Contained Gold | Tonnes (2) | Grade | Contained Gold | Tonnes (2) | Grade | Contained Gold | |||||||||||||||||||||||||||||
as at 31 December 2022 | Million | g/t | Tonnes | Moz | Million | g/t | Tonnes | Moz | Million | g/t | Tonnes | Moz | ||||||||||||||||||||||||||
Africa Region | 50.54 | 2.37 | 120.00 | 3.86 | 213.89 | 2.43 | 520.44 | 16.73 | 264.43 | 2.42 | 640.45 | 20.59 | ||||||||||||||||||||||||||
Democratic Republic of the Congo | 14.49 | 3.47 | 50.33 | 1.62 | 29.17 | 3.15 | 91.86 | 2.95 | 43.67 | 3.26 | 142.19 | 4.57 | ||||||||||||||||||||||||||
Kibali (45 %)(1)(5)(8) | 14.49 | 3.47 | 50.33 | 1.62 | 29.17 | 3.15 | 91.86 | 2.95 | 43.67 | 3.26 | 142.19 | 4.57 | ||||||||||||||||||||||||||
Ghana | 11.31 | 4.42 | 50.03 | 1.61 | 70.08 | 3.78 | 264.67 | 8.51 | 81.39 | 3.87 | 314.70 | 10.12 | ||||||||||||||||||||||||||
Iduapriem(8) | 6.84 | 1.07 | 7.30 | 0.23 | 48.83 | 1.39 | 68.00 | 2.19 | 55.67 | 1.35 | 75.30 | 2.42 | ||||||||||||||||||||||||||
Obuasi(8) | 4.47 | 9.55 | 42.73 | 1.37 | 21.25 | 9.26 | 196.67 | 6.32 | 25.72 | 9.31 | 239.40 | 7.70 | ||||||||||||||||||||||||||
Guinea | 15.20 | 0.65 | 9.95 | 0.32 | 75.68 | 0.83 | 62.72 | 2.02 | 90.88 | 0.80 | 72.67 | 2.34 | ||||||||||||||||||||||||||
Siguiri (85 %)(1)(8) | 15.20 | 0.65 | 9.95 | 0.32 | 75.68 | 0.83 | 62.72 | 2.02 | 90.88 | 0.80 | 72.67 | 2.34 | ||||||||||||||||||||||||||
Tanzania | 9.54 | 1.02 | 9.70 | 0.31 | 38.95 | 2.60 | 101.19 | 3.25 | 48.49 | 2.29 | 110.89 | 3.57 | ||||||||||||||||||||||||||
Geita(8) | 9.54 | 1.02 | 9.70 | 0.31 | 38.95 | 2.60 | 101.19 | 3.25 | 48.49 | 2.29 | 110.89 | 3.57 | ||||||||||||||||||||||||||
Americas Region | 8.16 | 3.39 | 27.64 | 0.89 | 23.64 | 2.79 | 65.88 | 2.12 | 31.80 | 2.94 | 93.53 | 3.01 | ||||||||||||||||||||||||||
Argentina | 2.22 | 3.20 | 7.11 | 0.23 | 9.16 | 1.75 | 16.00 | 0.51 | 11.38 | 2.03 | 23.11 | 0.74 | ||||||||||||||||||||||||||
Cerro Vanguardia (92.5 %)(1)(3)(8) | 2.22 | 3.20 | 7.11 | 0.23 | 9.16 | 1.75 | 16.00 | 0.51 | 11.38 | 2.03 | 23.11 | 0.74 | ||||||||||||||||||||||||||
Brazil | 5.93 | 3.46 | 20.54 | 0.66 | 14.48 | 3.44 | 49.88 | 1.60 | 20.41 | 3.45 | 70.41 | 2.26 | ||||||||||||||||||||||||||
AGA Mineração - Córrego do Sítio(8) | 1.17 | 2.95 | 3.44 | 0.11 | 2.21 | 4.32 | 9.53 | 0.31 | 3.37 | 3.84 | 12.97 | 0.42 | ||||||||||||||||||||||||||
AGA Mineração - Cuiabá(4)(8) | 2.37 | 4.57 | 10.82 | 0.35 | 5.99 | 4.22 | 25.28 | 0.81 | 8.35 | 4.32 | 36.11 | 1.16 | ||||||||||||||||||||||||||
AGA Mineração - Lamego(4)(8) | 0.35 | 2.54 | 0.89 | 0.03 | 1.18 | 2.71 | 3.20 | 0.10 | 1.53 | 2.67 | 4.10 | 0.13 | ||||||||||||||||||||||||||
Serra Grande(8) | 2.05 | 2.63 | 5.38 | 0.17 | 5.10 | 2.32 | 11.86 | 0.38 | 7.15 | 2.41 | 17.24 | 0.55 | ||||||||||||||||||||||||||
Australia Region | 21.96 | 1.54 | 33.88 | 1.09 | 22.30 | 2.15 | 47.88 | 1.54 | 44.26 | 1.85 | 81.76 | 2.63 | ||||||||||||||||||||||||||
Sunrise Dam(8) | 12.02 | 1.51 | 18.17 | 0.58 | 6.55 | 2.72 | 17.83 | 0.57 | 18.57 | 1.94 | 36.00 | 1.16 | ||||||||||||||||||||||||||
Tropicana (70 %)(1)(8) | 9.94 | 1.58 | 15.71 | 0.51 | 15.74 | 1.91 | 30.05 | 0.97 | 25.69 | 1.78 | 45.76 | 1.47 | ||||||||||||||||||||||||||
Projects | — | — | — | — | 120.01 | 0.67 | 80.83 | 2.60 | 120.01 | 0.67 | 80.83 | 2.60 | ||||||||||||||||||||||||||
Colombia | — | — | — | — | 120.01 | 0.67 | 80.83 | 2.60 | 120.01 | 0.67 | 80.83 | 2.60 | ||||||||||||||||||||||||||
Quebradona(3)(6)(7) | — | — | — | — | 120.01 | 0.67 | 80.83 | 2.60 | 120.01 | 0.67 | 80.83 | 2.60 | ||||||||||||||||||||||||||
AngloGold Ashanti Total | 80.66 | 2.25 | 181.53 | 5.84 | 379.84 | 1.88 | 715.03 | 22.99 | 460.49 | 1.95 | 896.56 | 28.83 |
Mineral Reserve | Proven | Probable | Total Mineral Reserve | |||||||||||||||||||||||||||||||||||
Copper | Tonnes (1) | Grade | Contained Copper | Tonnes (1) | Grade | Contained Copper | Tonnes (1) | Grade | Contained Copper | |||||||||||||||||||||||||||||
as at 31 December 2022 | Million | %Cu | Tonnes Million | Pounds Million | Million | %Cu | Tonnes Million | Pounds Million | Million | %Cu | Tonnes Million | Pounds Million | ||||||||||||||||||||||||||
Americas Region | — | — | — | — | 120.01 | 1.23 | 1.47 | 3,250 | 120.01 | 1.23 | 1.47 | 3,250 | ||||||||||||||||||||||||||
Colombia | — | — | — | — | 120.01 | 1.23 | 1.47 | 3,250 | 120.01 | 1.23 | 1.47 | 3,250 | ||||||||||||||||||||||||||
Quebradona(2)(3) | — | — | — | — | 120.01 | 1.23 | 1.47 | 3,250 | 120.01 | 1.23 | 1.47 | 3,250 | ||||||||||||||||||||||||||
AngloGold Ashanti Total | — | — | — | — | 120.01 | 1.23 | 1.47 | 3,250 | 120.01 | 1.23 | 1.47 | 3,250 |
Responsibility | Qualified Person | Professional organisation | Membership number | Relevant experience | Qualification | ||||||||||||
Kibali Mineral Resource | Richard Peattie (1) | FAusIMM | 301 029 | 26 years | MPhil (Geostatistics) | ||||||||||||
Kibali Mineral Reserve | Romulo Sanhueza | MAusIMM | 211 794 | 25 years | BSc Eng (Mining) | ||||||||||||
Obuasi Mineral Resource | Emmarentia Maritz(1) | SACNASP | 118345 | 19 years | MSc (Mineral Resource Evaluation) | ||||||||||||
Obuasi Mineral Reserve | Douglas Atanga | MAusIMM | 334 391 | 14 years | BSc (Mining Engineering) | ||||||||||||
Geita Mineral Resource | Damon Elder | MAusIMM | 208 240 | 26 years | BSc Hons (Geology) | ||||||||||||
Geita Mineral Reserve | Duan Campbell | ECSA | 202 101 953 | 20 years | BEng (Mining) |
Ore Reserve: Imperial | At 31 December 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proven Ore Reserve (1) (2) | Probable Ore Reserve (1) (2) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Tons(5) | Grade | Gold Content | Tons (5) | Grade | Gold Content | Metallurgical Recovery Factor | Cut-off Grade | (9) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
(million) | (oz/ton) | (Moz) | (million) | (oz/ton) | (Moz) | percent | (oz/ton) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Africa | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Democratic Republic of the Congo | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Kibali (45 percent) (3) (10) | 10.06 | 0.127 | 1.27 | 27.87 | 0.107 | 2.97 | 75.9-90.9 | (4) | 0.016-0.061 | (4) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Ghana | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Iduapriem | 8.45 | 0.034 | 0.29 | 42.11 | 0.038 | 1.62 | 93.0-95.9 | (4) | 0.016-0.026 | (4) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Obuasi (2) | — | — | — | 34.76 | 0.251 | 8.73 | 87.0 | 0.111-0.152 | (4) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Guinea | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Siguiri (85 percent) (3) | 19.34 | 0.018 | 0.35 | 61.72 | 0.025 | 1.54 | 88.0 | (4) | 0.016-0.028 | (4) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Mali | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sadiola (41 percent) (3)(8) | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Tanzania | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Geita | — | — | — | 30.91 | 0.076 | 2.34 | 79.1-92.7 | (4) | 0.032-0.097 | (4) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
South Africa | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
West Wits | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mponeng (8) | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Surface | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Surface Operations (8) | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Australia | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sunrise Dam (2) | 12.21 | 0.044 | 0.54 | 9.55 | 0.064 | 0.61 | 81.9-92.0 | (4) | 0.022-0.047 | (4) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Tropicana (70 percent) (2)(3) | 16.91 | 0.033 | 0.55 | 21.00 | 0.064 | 1.33 | 88.1-90.0 | (4) | 0.020-0.079 | (4) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Americas | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Argentina | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cerro Vanguardia (92.5 percent)(3)(6) | 3.74 | 0.061 | 0.23 | 7.92 | 0.066 | 0.53 | 66.9-95.2 | (4) | 0.008-0.197 | (4) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Brazil | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
AGA Mineração (2) (7) | 3.46 | 0.108 | 0.37 | 12.04 | 0.113 | 1.36 | 43.7-94.3 | (4) | 0.008-0.125 | (4) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Serra Grande (2) | 2.98 | 0.080 | 0.24 | 4.73 | 0.082 | 0.39 | 89.5-96.4 | (4) | 0.016-0.043 | (4) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Colombia | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gramalote (50 percent) (3) | — | — | — | 68.85 | 0.025 | 1.72 | 83.9-95.0 | (4) | 0.005-0.006 | (4) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Quebradona (2)(6) | — | — | — | 124.25 | 0.020 | 2.49 | 58.6 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | 77.15 | 0.050 | 3.84 | 445.71 | 0.058 | 25.63 |
Ore Reserve: Imperial | At 31 December 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proven Ore Reserve (1) (2) | Probable Ore Reserve (1) (2) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Tons(5) | Grade | Copper Content | Tons (5) | Grade | Copper Content | Metallurgical Recovery Factor | Cut-off Grade | (9) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
(million) | percent | (Mlbs) | (million) | percent | (Mlbs) | percent | ($/t) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Colombia | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Quebradona (2)(6) | — | — | — | 124.25 | 1.25 | 3,105 | 93.6 | 30 | (11) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | — | — | — | 124.25 | 1.25 | 3,105 |
Ore Reserve below infrastructure: Imperial | Tons (millions) | Grade (ounces/ton) | Gold Content (million ounces) | |||||||||||||||||||||||
Obuasi | 2.98 | 0.580 | 1.73 | |||||||||||||||||||||||
Sunrise Dam | 1.13 | 0.090 | 0.10 | |||||||||||||||||||||||
Tropicana | 0.88 | 0.100 | 0.09 | |||||||||||||||||||||||
AGA Mineração | 5.45 | 0.140 | 0.78 | |||||||||||||||||||||||
Serra Grande | 5.41 | 0.080 | 0.44 | |||||||||||||||||||||||
Quebradona | 124.25 | 0.020 | 2.49 | |||||||||||||||||||||||
Total | 140.10 | 0.040 | 5.64 |
Ore Reserve below infrastructure: Imperial | Tons (millions) | Grade (%) | Copper Content (million pounds) | |||||||||||||||||||||||
Quebradona | 124.25 | 1.25 | 3,105 | |||||||||||||||||||||||
Total | 124.25 | 1.25 | 3,105 |
Ore Reserve: Imperial | At 31 December 2019 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proven Ore Reserve (1) (2) | Probable Ore Reserve (1) (2) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Tons(5) | Grade | Gold Content | Tons (5) | Grade | Gold Content | Metallurgical Recovery Factor | Cut-off Grade | (9) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(million) | (oz/ton) | (Moz) | (million) | (oz/ton) | (Moz) | percent | (oz/ton) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Africa | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Democratic Republic of the Congo | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Kibali (45 percent) (3) (10) | 10.25 | 0.120 | 1.23 | 23.72 | 0.123 | 2.93 | 84.5-89.8 | (4) | 0.044-0.070 | (4) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ghana | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Iduapriem | 3.74 | 0.024 | 0.09 | 42.86 | 0.040 | 1.71 | 93.0-95.9 | (4) | 0.025-0.028 | (4) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Obuasi (2) | — | — | — | 26.74 | 0.266 | 7.12 | 87.0 | 0.120-0.152 | (4) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Guinea | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Siguiri (85 percent) (3) | 20.07 | 0.019 | 0.37 | 59.66 | 0.023 | 1.39 | 88.0-93.0 | (4) | 0.015-0.022 | (4) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mali | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Morila (40 percent) (3) (10) (11) | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sadiola (41 percent) (3) | — | — | — | 27.00 | 0.059 | 1.58 | 75.0-94.0 | (4) | 0.015-0.023 | (4) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Tanzania | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Geita | — | — | — | 14.81 | 0.102 | 1.51 | 77.8-92.7 | (4) | 0.036-0.115 | (4) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
South Africa | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
West Wits | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mponeng (2) | 1.14 | 0.235 | 0.27 | 38.75 | 0.280 | 10.83 | 97.1-97.9 | (4) | 0.167-0.239 | (4) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Surface | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Surface sources (8) | 70.51 | 0.007 | 0.49 | 504.74 | 0.008 | 3.88 | 44.0-90.9 | (4) | 0.006-0.010 | (4) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Australia | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sunrise Dam (2) | 12.29 | 0.040 | 0.49 | 7.32 | 0.083 | 0.61 | 84.5-85.0 | (4) | 0.020-0.046 | (4) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Tropicana (70 percent) (2)(3) | 18.16 | 0.030 | 0.54 | 25.35 | 0.062 | 1.58 | 89.9-90.0 | (4) | 0.020-0.078 | (4) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Americas | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Argentina | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cerro Vanguardia (92.5 percent)(3)(6) | 4.52 | 0.037 | 0.17 | 6.50 | 0.081 | 0.52 | 65.8-95.8 | (4) | 0.010-0.159 | (4) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Brazil | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
AGA Mineração (2) (7) | 2.48 | 0.123 | 0.31 | 10.68 | 0.136 | 1.46 | 53.0-94.3 | (4) | 0.010-0.155 | (4) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Serra Grande (2) | 1.71 | 0.083 | 0.14 | 2.81 | 0.095 | 0.27 | 92.4-95.7 | (4) | 0.027-0.052 | (4) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Colombia | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gramalote (51 percent) (3) | — | — | — | 70.23 | 0.025 | 1.76 | 83.9-95.0 | (4) | 0.005-0.006 | (4) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Quebradona (94.876 percent) (2)(3)(6) | — | — | — | 122.62 | 0.021 | 2.53 | 60.0 | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | 144.87 | 0.028 | 4.10 | 983.80 | 0.040 | 39.68 |
Ore Reserve: Imperial | At 31 December 2019 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proven Ore Reserve (1) (2) | Probable Ore Reserve (1) (2) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Tons(5) | Grade | Copper Content | Tons (5) | Grade | Copper Content | Metallurgical Recovery Factor | Cut-off Grade | (9) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
(million) | percent | (Mlbs) | (million) | percent | (Mlbs) | percent | ($/t) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Colombia | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Quebradona (2)(6) | — | — | — | 122.62 | 1.25 | 3,068 | 95.8 | 25-45 | (12) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | — | — | — | 122.62 | 1.25 | 3,068 |
Ore Reserve below infrastructure: Imperial | Tons (millions) | Grade (ounces/ton) | Gold Content (million ounces) | |||||||||||||||||||||||
Mponeng | 30.67 | 0.270 | 8.17 | |||||||||||||||||||||||
Obuasi | 3.08 | 0.560 | 1.72 | |||||||||||||||||||||||
Sunrise Dam | 1.11 | 0.140 | 0.16 | |||||||||||||||||||||||
Tropicana | 2.09 | 0.110 | 0.22 | |||||||||||||||||||||||
AGA Mineração | 6.34 | 0.140 | 0.92 | |||||||||||||||||||||||
Serra Grande | 2.18 | 0.100 | 0.22 | |||||||||||||||||||||||
Quebradona | 122.62 | 0.020 | 2.53 | |||||||||||||||||||||||
Total | 168.10 | 0.080 | 13.93 |
Ore Reserve below infrastructure: Imperial | Tons (millions) | Grade (%) | Copper Content (million pounds) | |||||||||||||||||||||||
Quebradona | 122.62 | 1.25 | 3,068 | |||||||||||||||||||||||
Total | 122.62 | 1.25 | 3,068 |
Ore Reserve: Metric | At 31 December 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proven Ore Reserve (1) (2) | Probable Ore Reserve (1) (2) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Tonnes(5) | Grade | Gold Content | Tonnes (5) | Grade | Gold Content | Metallurgical Recovery Factor | Cut-off Grade | (9) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(million) | (g/t) | (tonnes) | (million) | (g/t) | tonnes | percent | (g/t) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Africa | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Democratic Republic of the Congo | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Kibali (45 percent) (3) (10) | 9.12 | 4.34 | 39.58 | 25.28 | 3.66 | 92.51 | 75.9-90.9 | (4) | 0.54-2.09 | (4) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ghana | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Iduapriem | 7.67 | 1.16 | 8.93 | 38.20 | 1.32 | 50.38 | 93.0-95.9 | (4) | 0.55-0.90 | (4) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Obuasi (2) | — | — | — | 31.53 | 8.62 | 271.63 | 87.0 | 3.82-5.20 | (4) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Guinea | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Siguiri (85 percent) (3) | 17.55 | 0.62 | 10.94 | 55.99 | 0.86 | 47.90 | 88.0 | 0.55-0.95 | (4) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mali | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sadiola (41 percent) (3) (8) | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Tanzania | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Geita | — | — | — | 28.04 | 2.59 | 72.68 | 79.1-92.7 | (4) | 1.10-3.32 | (4) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
South Africa | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
West Wits | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mponeng (8) | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Surface | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Surface sources (8) | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Australia | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sunrise Dam (2) | 11.08 | 1.52 | 16.88 | 8.67 | 2.18 | 18.89 | 81.9-92.0 | (4) | 0.75-1.60 | (4) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Tropicana (70 percent) (2) (3) | 15.34 | 1.12 | 17.16 | 19.05 | 2.18 | 41.50 | 88.1-90.0 | (4) | 0.70-2.70 | (4) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Americas | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Argentina | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cerro Vanguardia (92.5 percent) (3) (6) | 3.39 | 2.10 | 7.13 | 7.18 | 2.28 | 16.34 | 66.9-95.2 | (4) | 0.27-6.76 | (4) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Brazil | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
AGA Mineraçáo (2) (7) | 3.13 | 3.69 | 11.58 | 10.92 | 3.88 | 42.35 | 49.7-94.3 | (4) | 0.29-4.29 | (4) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Serra Grande (2) | 2.71 | 2.75 | 7.45 | 4.29 | 2.81 | 12.04 | 89.5-96.4 | (4) | 0.54-1.46 | (4) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Colombia | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gramalote (50 percent) (3) | — | — | — | 62.46 | 0.86 | 53.60 | 83.9-95.0 | (4) | 0.16-0.22 | (4) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Quebradona (2) (6) | — | — | — | 112.72 | 0.69 | 77.31 | 58.6 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | 69.99 | 1.71 | 119.65 | 404.33 | 1.97 | 797.13 |
Ore Reserve: Metric | At 31 December 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proven Ore Reserve (1) (2) | Probable Ore Reserve (1) (2) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Tonnes(5) | Grade | Copper Content | Tonnes (5) | Grade | Copper Content | Metallurgical Recovery Factor | Cut-off Grade | (9) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
(million) | percent | (tonnes million) | (million) | percent | (tonnes million) | percent | ($/t) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Colombia | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Quebradona (2)(6) | — | — | — | 112.72 | 1.25 | 1.41 | 93.6 | 30 | (11) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | — | — | — | 112.72 | 1.25 | 1.41 |
Ore Reserve below infrastructure: Metric | Tons (millions) | Grade (grams/tonne) | Gold Content (tonnes) | ||||||||||||||||||||||||||||||||
Obuasi | 2.71 | 19.87 | 53.76 | ||||||||||||||||||||||||||||||||
Sunrise Dam | 1.02 | 3.17 | 3.24 | ||||||||||||||||||||||||||||||||
Tropicana | 0.80 | 3.59 | 2.86 | ||||||||||||||||||||||||||||||||
AGA Mineração | 4.94 | 4.94 | 24.41 | ||||||||||||||||||||||||||||||||
Serra Grande | 4.91 | 2.80 | 13.75 | ||||||||||||||||||||||||||||||||
Quebradona | 112.72 | 0.69 | 77.31 | ||||||||||||||||||||||||||||||||
Total | 127.10 | 1.38 | 175.33 |
Ore Reserve below infrastructure: Metric | Tons (millions) | Grade (%) | Copper Content (million tonnes) | |||||||||||||||||||||||||||||
Quebradona | 112.72 | 1.25 | 1.41 | |||||||||||||||||||||||||||||
Total | 112.72 | 1.25 | 1.41 |
Ore Reserve: Metric | At 31 December 2019 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proven Ore Reserve (1) (2) | Probable Ore Reserve (1) (2) | Metallurgical | Cut-off | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Tonnes(5) | Grade | Gold Content | Tonnes (5) | Grade | Gold Content | Recovery Factor | Grade | (9) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(million) | (g/t) | (tonnes) | (million) | (g/t) | tonnes | percent | (g/t) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Africa | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Democratic Republic of the Congo | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Kibali (45 percent) (3) (10) | 9.29 | 4.13 | 38.36 | 21.52 | 4.23 | 90.99 | 84.5-89.8 | (4) | 1.50-2.40 | (4) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ghana | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Iduapriem | 3.40 | 0.84 | 2.85 | 38.88 | 1.36 | 53.05 | 93.0-95.9 | (4) | 0.85-0.95 | (4) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Obuasi (2) | — | — | — | 24.26 | 9.13 | 221.47 | 87.0 | 4.10-5.20 | (4) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Guinea | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Siguiri (85 percent) (3) | 18.20 | 0.63 | 11.55 | 54.12 | 0.80 | 43.27 | 88.0-93.0 | (4) | 0.50-0.75 | (4) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mali | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Morila (40 percent) (3) (10) (11) | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sadiola (41 percent) (3) | — | — | — | 24.50 | 2.01 | 49.23 | 75.0-94.0 | (4) | 0.51-0.78 | (4) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Tanzania | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Geita | — | — | — | 13.44 | 3.50 | 47.03 | 77.8-92.7 | (4) | 1.25-3.95 | (4) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
South Africa | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
West Wits | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mponeng (2) | 1.03 | 8.05 | 8.31 | 35.16 | 9.59 | 337.00 | 97.1-97.9 | (4) | 5.72-8.18 | (4) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Surface | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Surface sources (8) | 63.97 | 0.24 | 15.18 | 457.89 | 0.26 | 120.83 | 44.0-90.9 | (4) | 0.20-0.34 | (4) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Australia | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sunrise Dam (2) | 11.15 | 1.38 | 15.39 | 6.64 | 2.84 | 18.88 | 84.5-85.0 | (4) | 0.70-1.56 | (4) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Tropicana (70 percent) (2) (3) | 16.48 | 1.02 | 16.89 | 22.99 | 2.13 | 49.07 | 89.9-90.0 | (4) | 0.70-2.69 | (4) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Americas | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Argentina | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cerro Vanguardia (92.5 percent) (3) (6) | 4.10 | 1.26 | 5.17 | 5.90 | 2.77 | 16.33 | 65.8-95.8 | (4) | 0.33-5.46 | (4) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Brazil | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
AGA Mineraçáo (2) (7) | 2.25 | 4.23 | 9.50 | 9.69 | 4.68 | 45.33 | 53.0-94.3 | (4) | 0.33-5.31 | (4) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Serra Grande (2) | 1.55 | 2.83 | 4.40 | 2.55 | 3.27 | 8.32 | 92.4-95.7 | (4) | 0.92-1.77 | (4) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Colombia | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gramalote (51 percent) (3) | — | — | — | 63.71 | 0.86 | 54.67 | 83.9-95.0 | (4) | 0.16-0.22 | (4) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Quebradona (2) (6) | — | — | — | 111.24 | 0.71 | 78.60 | 60.0 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | 131.42 | 0.97 | 127.60 | 892.49 | 1.38 | 1,234.08 |
Ore Reserve: Metric | At 31 December 2019 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proven Ore Reserve (1) (2) | Probable Ore Reserve (1) (2) | Cut-off | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Tonnes(5) | Grade | Copper Content | Tonnes (5) | Grade | Copper Content | Recovery Factor | Grade | (9) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
(million) | percent | (tonnes million) | (million) | percent | (tonnes million) | percent | ($/t) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Colombia | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Quebradona (2) (6) | — | — | — | 111.24 | 1.25 | 1.39 | 95.80 | 25-45 | (12) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | — | — | — | 111.24 | 1.25 | 1.39 |
Ore Reserve below infrastructure: Metric | Tons (millions) | Grade (grams/tonne) | Gold Content (tonnes) | ||||||||||||||||||||||||||||||||
Mponeng | 27.83 | 9.13 | 254.02 | ||||||||||||||||||||||||||||||||
Obuasi | 2.80 | 19.14 | 53.54 | ||||||||||||||||||||||||||||||||
Sunrise Dam | 1.01 | 4.92 | 4.97 | ||||||||||||||||||||||||||||||||
Tropicana | 1.89 | 3.60 | 6.82 | ||||||||||||||||||||||||||||||||
AGA Mineração | 5.75 | 4.96 | 28.49 | ||||||||||||||||||||||||||||||||
Serra Grande | 1.98 | 3.40 | 6.73 | ||||||||||||||||||||||||||||||||
Quebradona | 111.24 | 0.71 | 78.60 | ||||||||||||||||||||||||||||||||
Total | 152.50 | 2.84 | 433.17 |
Ore Reserve below infrastructure: Metric | Tons (millions) | Grade (%) | Copper Content (million tonnes) | |||||||||||||||||||||||||||||
Quebradona | 111.24 | 1.25 | 1.39 | |||||||||||||||||||||||||||||
Total | 111.24 | 1.25 | 1.39 |
Ore Reserve: Imperial | At 31 December 2020 | |||||||||||||||||||||||||
Stockpiles | Tons (million) | Grade (ounces/ton) | Gold content (million ounces) | |||||||||||||||||||||||
Africa | ||||||||||||||||||||||||||
Democratic Republic of the Congo | ||||||||||||||||||||||||||
Kibali (45 percent) (1) | 0.72 | 0.044 | 0.03 | |||||||||||||||||||||||
Ghana | ||||||||||||||||||||||||||
Iduapriem | 17.54 | 0.022 | 0.38 | |||||||||||||||||||||||
Guinea | ||||||||||||||||||||||||||
Siguiri (85 percent) (1) (2) | 54.57 | 0.017 | 0.91 | |||||||||||||||||||||||
Tanzania | ||||||||||||||||||||||||||
Geita | 8.94 | 0.046 | 0.41 | |||||||||||||||||||||||
Australia | ||||||||||||||||||||||||||
Sunrise Dam | 8.05 | 0.027 | 0.22 | |||||||||||||||||||||||
Tropicana (70 percent) (1) | 13.89 | 0.025 | 0.35 | |||||||||||||||||||||||
Americas | ||||||||||||||||||||||||||
Argentina | ||||||||||||||||||||||||||
Cerro Vanguardia (92.5 percent) (1) | 7.00 | 0.012 | 0.08 |
Ore Reserve: Imperial | At 31 December 2019 | |||||||||||||||||||||||||
Stockpiles | Tons (million) | Grade (ounces/ ton) | Gold content (million ounces) | |||||||||||||||||||||||
Africa | ||||||||||||||||||||||||||
Democratic Republic of the Congo | ||||||||||||||||||||||||||
Kibali (45 percent) (1) | 1.09 | 0.050 | 0.05 | |||||||||||||||||||||||
Ghana | ||||||||||||||||||||||||||
Iduapriem | 16.41 | 0.021 | 0.35 | |||||||||||||||||||||||
Guinea | ||||||||||||||||||||||||||
Siguiri (85 percent) (1) (3) | 55.29 | 0.017 | 0.93 | |||||||||||||||||||||||
Mali | ||||||||||||||||||||||||||
Sadiola (41 percent) (1) | 1.46 | 0.068 | 0.10 | |||||||||||||||||||||||
Tanzania | ||||||||||||||||||||||||||
Geita | 4.50 | 0.046 | 0.20 | |||||||||||||||||||||||
South Africa | ||||||||||||||||||||||||||
Surface sources (2) | 575.26 | 0.008 | 4.37 | |||||||||||||||||||||||
Australia | ||||||||||||||||||||||||||
Sunrise Dam | 9.40 | 0.028 | 0.26 | |||||||||||||||||||||||
Tropicana (70 percent) (1) | 16.97 | 0.028 | 0.47 | |||||||||||||||||||||||
Americas | ||||||||||||||||||||||||||
Argentina | ||||||||||||||||||||||||||
Cerro Vanguardia (92.5 percent) (1) | 6.58 | 0.013 | 0.08 | |||||||||||||||||||||||
Brazil | ||||||||||||||||||||||||||
Serra Grande | 0.01 | 0.058 | 0.00 |
Ore Reserve: Metric | At 31 December 2020 | |||||||||||||||||||||||||
Stockpiles | Tonnes (million) | Grade (grams/ tonne) | Gold content (tonnes) | |||||||||||||||||||||||
Africa | ||||||||||||||||||||||||||
Democratic Republic of the Congo | ||||||||||||||||||||||||||
Kibali (45 percent) (1) | 0.65 | 1.50 | 0.98 | |||||||||||||||||||||||
Ghana | ||||||||||||||||||||||||||
Iduapriem | 15.91 | 0.75 | 11.96 | |||||||||||||||||||||||
Guinea | ||||||||||||||||||||||||||
Siguiri (85 percent) (1) (2) | 49.50 | 0.57 | 28.24 | |||||||||||||||||||||||
Tanzania | ||||||||||||||||||||||||||
Geita | 8.11 | 1.57 | 12.76 | |||||||||||||||||||||||
Australia | ||||||||||||||||||||||||||
Sunrise Dam | 7.31 | 0.93 | 6.81 | |||||||||||||||||||||||
Tropicana (70 percent) (1) | 12.60 | 0.87 | 11.01 | |||||||||||||||||||||||
Americas | ||||||||||||||||||||||||||
Argentina | ||||||||||||||||||||||||||
Cerro Vanguardia (92.5 percent) (1) | 6.35 | 0.41 | 2.61 |
Ore Reserve: Metric | At 31 December 2019 | |||||||||||||||||||||||||
Stockpiles | Tonnes (million) | Grade (grams /tonne) | Gold content (tonnes) | |||||||||||||||||||||||
Africa | ||||||||||||||||||||||||||
Democratic Republic of the Congo | ||||||||||||||||||||||||||
Kibali (45 percent) (1) | 0.99 | 1.72 | 1.70 | |||||||||||||||||||||||
Ghana | ||||||||||||||||||||||||||
Iduapriem | 14.89 | 0.73 | 10.90 | |||||||||||||||||||||||
Guinea | ||||||||||||||||||||||||||
Siguiri (85 percent) (1) (3) | 50.16 | 0.58 | 28.84 | |||||||||||||||||||||||
Mali | ||||||||||||||||||||||||||
Sadiola (41 percent) (1) | 1.32 | 2.31 | 3.07 | |||||||||||||||||||||||
Tanzania | ||||||||||||||||||||||||||
Geita | 4.08 | 1.56 | 6.37 | |||||||||||||||||||||||
South Africa | ||||||||||||||||||||||||||
Surface sources (2) | 521.86 | 0.26 | 136.01 | |||||||||||||||||||||||
Australia | ||||||||||||||||||||||||||
Sunrise Dam | 8.53 | 0.94 | 8.05 | |||||||||||||||||||||||
Tropicana (70 percent) (1) | 15.40 | 0.94 | 14.52 | |||||||||||||||||||||||
Americas | ||||||||||||||||||||||||||
Argentina | ||||||||||||||||||||||||||
Cerro Vanguardia (92.5 percent) (1) | 5.97 | 0.44 | 2.64 | |||||||||||||||||||||||
Brazil | ||||||||||||||||||||||||||
Serra Grande | 0.01 | 2.00 | 0.02 |
Average annual exchange rates to the US dollar | Average annual exchange rates to the US dollar | 2020 | 2019 | 2018 | Average annual exchange rates to the US dollar | 2022 | 2021 | 2020 | ||||||||||||||||||||||||||
Brazilian real | Brazilian real | 5.15 | 3.94 | 3.66 | Brazilian real | 5.16 | 5.40 | 5.15 | ||||||||||||||||||||||||||
Australian dollar | Australian dollar | 1.45 | 1.44 | 1.34 | Australian dollar | 1.44 | 1.33 | 1.45 | ||||||||||||||||||||||||||
Argentinian peso | 70.71 | 48.29 | 28.14 | |||||||||||||||||||||||||||||||
Argentinean peso | Argentinean peso | 130.87 | 95.21 | 70.71 |
Financial performance of AngloGold Ashanti | Year ended 31 December | ||||||||||||||||
(in $ millions) | 2022 | 2021 | 2020 | ||||||||||||||
Restated | |||||||||||||||||
Continuing operations | |||||||||||||||||
Revenue from product sales | 4,501 | 4,029 | 4,595 | ||||||||||||||
Cost of sales | (3,362) | (2,857) | (2,829) | ||||||||||||||
Total of all other (expenses) income | (816) | (463) | (417) | ||||||||||||||
Share of associates and joint ventures’ profit (loss) | 166 | 249 | 278 | ||||||||||||||
Taxation | (173) | (312) | (625) | ||||||||||||||
Discontinued operations | |||||||||||||||||
Profit (loss) from discontinued operations | — | — | 7 | ||||||||||||||
Profit for the period | 316 | 646 | 1,009 | ||||||||||||||
Net profit (loss) attributable to equity shareholders | |||||||||||||||||
- Continuing operations | 297 | 622 | 984 | ||||||||||||||
- Discontinued operations | — | — | 7 | ||||||||||||||
Net profit (loss) attributable to non-controlling interests | |||||||||||||||||
- Continuing operations | 19 | 24 | 18 |
Cost of sales for AngloGold Ashanti | Year ended 31 December | ||||||||||||||||
(in $ millions) | 2022 | 2021 | 2020 | ||||||||||||||
Restated | |||||||||||||||||
Total cost of sales | 3,362 | 2,857 | 2,829 | ||||||||||||||
Inventory change | 30 | (6) | (14) | ||||||||||||||
Amortisation of tangible assets | (551) | (411) | (526) | ||||||||||||||
Amortisation of intangible assets | (1) | (3) | (2) | ||||||||||||||
Amortisation of right of use assets | (81) | (63) | (47) | ||||||||||||||
Retrenchment costs | (6) | (2) | (2) | ||||||||||||||
Rehabilitation and other non-cash costs | — | (38) | (32) | ||||||||||||||
Total cash costs | 2,753 | 2,334 | 2,206 |
Financial performance of AngloGold Ashanti | Year ended 31 December | ||||||||||||||||
(in $ millions) | 2020 | 2019 | 2018 | ||||||||||||||
Continuing operations | |||||||||||||||||
Revenue from product sales | 4,427 | 3,525 | 3,336 | ||||||||||||||
Cost of sales | (2,699) | (2,626) | (2,584) | ||||||||||||||
Total of all other (expenses) income | (417) | (448) | (429) | ||||||||||||||
Share of associates and joint ventures’ profit (loss) | 278 | 168 | 122 | ||||||||||||||
Taxation | (625) | (250) | (212) | ||||||||||||||
Discontinued operations | |||||||||||||||||
Profit (loss) from discontinued operations | 7 | (376) | (83) | ||||||||||||||
Net profit (loss) attributable to equity shareholders | |||||||||||||||||
- Continuing operations | 946 | 364 | 216 | ||||||||||||||
- Discontinued operations | 7 | (376) | (83) | ||||||||||||||
Net profit (loss) attributable to non-controlling interests | |||||||||||||||||
- Continuing operations | 18 | 5 | 17 |
Cost of sales for AngloGold Ashanti | Year ended 31 December | ||||||||||||||||
(in $ millions) | 2020 | 2019 | 2018 | ||||||||||||||
Total cost of sales | 2,699 | 2,626 | 2,584 | ||||||||||||||
Inventory change | (21) | (5) | (9) | ||||||||||||||
Amortisation of tangible assets | (521) | (538) | (553) | ||||||||||||||
Amortisation of intangible assets | (2) | (3) | (5) | ||||||||||||||
Amortisation of right of use assets | (47) | (42) | — | ||||||||||||||
Retrenchment costs | (2) | (4) | (4) | ||||||||||||||
Rehabilitation and other non-cash costs | (32) | (53) | (17) | ||||||||||||||
Total cash costs | 2,074 | 1,981 | 1,996 |
Capital expenditure data for AngloGold Ashanti | Year ended 31 December | |||||||||||||||||||
(in $ millions) | 2022 | 2021 | 2020 | |||||||||||||||||
Restated | ||||||||||||||||||||
Capital expenditure | 1,118 | 1,100 | 795 | |||||||||||||||||
- Consolidated entities | 1,028 | 1,028 | 739 | |||||||||||||||||
- Equity-accounted joint ventures | 90 | 72 | 56 |
Capital expenditure data for AngloGold Ashanti | Year ended 31 December | |||||||||||||||||||
(in $ millions) | 2020 | 2019 | 2018 | |||||||||||||||||
Capital expenditure | 757 | 754 | 645 | |||||||||||||||||
- Consolidated entities | 701 | 703 | 576 | |||||||||||||||||
- Equity accounted joint ventures | 56 | 51 | 69 |
(in millions) | Year ended 31 December | ||||||||||||||||||||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||||||||||||||||||||
$ | percent | $ | percent | $ | percent | ||||||||||||||||||||||||||||||
Geographical analysis of gold income by origin is as follows: | |||||||||||||||||||||||||||||||||||
Africa | 2,769 | 58 | 2,203 | 55 | 1,983 | 52 | |||||||||||||||||||||||||||||
Australia | 989 | 21 | 851 | 21 | 780 | 20 | |||||||||||||||||||||||||||||
Americas | 1,211 | 26 | 1,000 | 25 | 1,021 | 27 | |||||||||||||||||||||||||||||
4,969 | 4,054 | 3,784 | |||||||||||||||||||||||||||||||||
Less : Associates and equity-accounted joint ventures included above | (647) | (14) | (615) | (15) | (581) | (15) | |||||||||||||||||||||||||||||
Continuing operations | 4,322 | 3,439 | 3,203 | ||||||||||||||||||||||||||||||||
Discontinued operations | 408 | 9 | 554 | 14 | 602 | 16 | |||||||||||||||||||||||||||||
4,730 | 100 | 3,993 | 100 | 3,805 | 100 |
(in millions) | Year ended 31 December | ||||||||||||||||||||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||||||||||||||||||||
$ | percent | $ | percent | $ | percent | ||||||||||||||||||||||||||||||
Geographical analysis of assets by origin is as follows: | |||||||||||||||||||||||||||||||||||
South Africa | — | — | 697 | 10 | 1,106 | 17 | |||||||||||||||||||||||||||||
Africa | 3,956 | 51 | 3,514 | 51 | 3,135 | 47 | |||||||||||||||||||||||||||||
Australia | 1,044 | 14 | 972 | 14 | 888 | 13 | |||||||||||||||||||||||||||||
Americas | 1,626 | 21 | 1,427 | 21 | 1,286 | 19 | |||||||||||||||||||||||||||||
Other, including non-gold producing subsidiaries | 1,046 | 14 | 253 | 4 | 228 | 4 | |||||||||||||||||||||||||||||
Total assets | 7,672 | 100 | 6,863 | 100 | 6,643 | 100 |
(in millions) | Year ended 31 December | ||||||||||||||||||||||||||||||||||
2022 | 2021 | 2020 | |||||||||||||||||||||||||||||||||
$ | percent | $ | percent | $ | percent | ||||||||||||||||||||||||||||||
Restated | |||||||||||||||||||||||||||||||||||
Geographical analysis of gold income by origin is as follows: | |||||||||||||||||||||||||||||||||||
Africa | 2,981 | 68 | 2,644 | 68 | 2,937 | 60 | |||||||||||||||||||||||||||||
Australia | 967 | 22 | 890 | 23 | 989 | 20 | |||||||||||||||||||||||||||||
Americas | 1,036 | 24 | 1,028 | 26 | 1,211 | 25 | |||||||||||||||||||||||||||||
4,984 | 4,562 | 5,137 | |||||||||||||||||||||||||||||||||
Less : Associates and equity-accounted joint ventures included above | (596) | (14) | (659) | (17) | (647) | (13) | |||||||||||||||||||||||||||||
Continuing operations | 4,388 | 3,903 | 4,490 | ||||||||||||||||||||||||||||||||
Discontinued operations | — | — | — | — | 408 | 8 | |||||||||||||||||||||||||||||
4,388 | 100 | 3,903 | 100 | 4,898 | 100 |
(in millions) | Year ended 31 December | ||||||||||||||||||||||||||||||||||
2022 | 2021 | 2020 | |||||||||||||||||||||||||||||||||
$ | percent | $ | percent | $ | percent | ||||||||||||||||||||||||||||||
Restated | Restated | ||||||||||||||||||||||||||||||||||
Geographical analysis of assets by origin is as follows: | |||||||||||||||||||||||||||||||||||
Africa | 4,083 | 51 | 4,226 | 53 | 3,989 | 52 | |||||||||||||||||||||||||||||
Australia | 960 | 12 | 1,034 | 13 | 1,044 | 13 | |||||||||||||||||||||||||||||
Americas | 1,406 | 17 | 1,573 | 20 | 1,370 | 18 | |||||||||||||||||||||||||||||
Projects (1) | 872 | 11 | 313 | 4 | 256 | 3 | |||||||||||||||||||||||||||||
Other, including non-gold producing subsidiaries | 751 | 9 | 854 | 10 | 1,046 | 14 | |||||||||||||||||||||||||||||
Total assets | 8,072 | 100 | 8,000 | 100 | 7,705 | 100 |
Average gold price received per ounce for AngloGold Ashanti | Average gold price received per ounce for AngloGold Ashanti | Year ended 31 December | Average gold price received per ounce for AngloGold Ashanti | Year ended 31 December | ||||||||||||||||||||||||||||||
2022 | 2021 | 2020 | ||||||||||||||||||||||||||||||||
2020 | 2019 | 2018 | Restated | |||||||||||||||||||||||||||||||
Gold income (million US dollars) | Gold income (million US dollars) | 4,322 | 3,439 | 3,203 | Gold income (million US dollars) | 4,388 | 3,903 | 4,490 | ||||||||||||||||||||||||||
Adjusted for non-controlling interests (million US dollars) | Adjusted for non-controlling interests (million US dollars) | (95) | (77) | (84) | Adjusted for non-controlling interests (million US dollars) | (112) | (103) | (95) | ||||||||||||||||||||||||||
4,227 | 3,362 | 3,119 | 4,276 | 3,800 | 4,395 | |||||||||||||||||||||||||||||
Associates and joint ventures' share of gold income including realised non-hedge derivatives (million US dollars) | 647 | 615 | 581 | |||||||||||||||||||||||||||||||
Associates and joint ventures’ share of gold income including realised non-hedge derivatives (million US dollars) | Associates and joint ventures’ share of gold income including realised non-hedge derivatives (million US dollars) | 596 | 659 | 647 | ||||||||||||||||||||||||||||||
Attributable gold income (million US dollars) | Attributable gold income (million US dollars) | 4,874 | 3,977 | 3,700 | Attributable gold income (million US dollars) | 4,872 | 4,459 | 5,042 | ||||||||||||||||||||||||||
Attributable gold sold excluding pre-production ounces - oz (000) | 2,741 | 2,852 | 2,922 | |||||||||||||||||||||||||||||||
Attributable gold sold - oz (000) | Attributable gold sold - oz (000) | 2,717 | 2,483 | 2,835 | ||||||||||||||||||||||||||||||
Average gold price received per ounce ($/oz) | Average gold price received per ounce ($/oz) | 1,778 | 1,394 | 1,266 | Average gold price received per ounce ($/oz) | 1,793 | 1,796 | 1,778 |
Operating data for AngloGold Ashanti operations - Total | Operating data for AngloGold Ashanti operations - Total | Year ended 31 December | Operating data for AngloGold Ashanti operations - Total | Year ended 31 December | ||||||||||||||||||||||||||||||
(continuing operations) | (continuing operations) | 2020 | 2019 | 2018 | (continuing operations) | 2022 | 2021 | 2020 | ||||||||||||||||||||||||||
Restated | ||||||||||||||||||||||||||||||||||
Cost of sales (million US dollars) - Subsidiaries | Cost of sales (million US dollars) - Subsidiaries | 2,699 | 2,626 | 2,584 | Cost of sales (million US dollars) - Subsidiaries | 3,362 | 2,857 | 2,829 | ||||||||||||||||||||||||||
Cost of sales (million US dollars) - Joint Ventures | Cost of sales (million US dollars) - Joint Ventures | 340 | 428 | 480 | Cost of sales (million US dollars) - Joint Ventures | 342 | 350 | 340 | ||||||||||||||||||||||||||
All-in sustaining costs per ounce ($/oz) - Subsidiaries(1) | All-in sustaining costs per ounce ($/oz) - Subsidiaries(1) | 1,072 | 1,017 | 970 | All-in sustaining costs per ounce ($/oz) - Subsidiaries(1) | 1,439 | 1,441 | 1,082 | ||||||||||||||||||||||||||
All-in sustaining costs per ounce ($/oz) - Joint Ventures(1) | All-in sustaining costs per ounce ($/oz) - Joint Ventures(1) | 810 | 767 | 820 | All-in sustaining costs per ounce ($/oz) - Joint Ventures(1) | 979 | 856 | 810 | ||||||||||||||||||||||||||
All-in costs per ounce ($/oz) - Subsidiaries(1) | All-in costs per ounce ($/oz) - Subsidiaries(1) | 1,240 | 1,218 | 1,075 | All-in costs per ounce ($/oz) - Subsidiaries(1) | 1,658 | 1,695 | 1,259 | ||||||||||||||||||||||||||
All-in costs per ounce ($/oz) - Joint Ventures(1) | All-in costs per ounce ($/oz) - Joint Ventures(1) | 824 | 785 | 846 | All-in costs per ounce ($/oz) - Joint Ventures(1) | 1,075 | 900 | 824 | ||||||||||||||||||||||||||
Total cash costs per ounce ($/oz) - Subsidiaries(1) | Total cash costs per ounce ($/oz) - Subsidiaries(1) | 815 | 763 | 743 | Total cash costs per ounce ($/oz) - Subsidiaries(1) | 1,066 | 1,017 | 836 | ||||||||||||||||||||||||||
Total cash costs per ounce ($/oz) - Joint Ventures(1) | Total cash costs per ounce ($/oz) - Joint Ventures(1) | 629 | 657 | 680 | Total cash costs per ounce ($/oz) - Joint Ventures(1) | 725 | 647 | 629 |
Corporate (4) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
All-in sustaining costs | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost of sales per segmental information(5) | 4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
By-product revenue | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost of sales | 4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Realised other commodity contracts | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortisation of tangible, intangible and right of use assets | (4) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Adjusted for decommissioning and inventory amortisation | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Corporate administration and marketing expenditure | 79 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Lease payment sustaining | 2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sustaining exploration and study costs | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total sustaining capital expenditure | 1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
All-in sustaining costs | 82 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Adjusted for non-controlling interests and non-gold producing companies(1) | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
All-in sustaining costs adjusted for non-controlling interests and non-gold producing companies | 82 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
All-in sustaining costs | 82 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Non-sustaining project capital expenditure | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Non-sustaining lease payments | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Non-sustaining exploration and study costs | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Care and maintenance | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Closure and social responsibility costs not related to current operations | 7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other provisions | 14 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
All-in costs | 103 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Adjusted for non-controlling interests and non-gold producing companies(1) | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
All-in costs adjusted for non-controlling interests and non-gold producing companies | 103 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gold sold - oz (000)(2) | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
All-in sustaining cost per unit - $/oz(3) | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
All-in cost per unit - $/oz(3) | — |
Corporate(4) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total cash costs | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost of sales per segmental information(5) | 4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
By-product revenue | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Inventory change | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortisation of tangible assets | (3) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortisation of right of use assets | (1) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortisation of intangible assets | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rehabilitation and other non-cash costs | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retrenchment costs | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total cash costs net of by-product revenue | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Adjusted for non-controlling interests and non-gold producing companies (1) | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total cash costs adjusted for non-controlling interests and non-gold producing companies | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gold produced – oz (000)(2) | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total cash costs per unit – $/oz(3) | — |
AFRICA | AFRICA | ||||||||||||||||||||||||||||
Kibali | Other | Joint Ventures | Iduapriem | Obuasi | Siguiri | Geita | Africa Other | Subsidiaries | |||||||||||||||||||||
All-in sustaining costs | |||||||||||||||||||||||||||||
Cost of sales per segmental information(5) | 342 | — | 342 | 314 | 266 | 488 | 594 | — | 1,662 | ||||||||||||||||||||
By-product revenue | (1) | — | (1) | (1) | (1) | — | (1) | — | (3) | ||||||||||||||||||||
Cost of sales | 341 | — | 341 | 313 | 265 | 488 | 593 | — | 1,659 | ||||||||||||||||||||
Realised other commodity contracts | |||||||||||||||||||||||||||||
Amortisation of tangible, intangible and right of use assets | (95) | — | (95) | (80) | (40) | (50) | (102) | — | (272) | ||||||||||||||||||||
Adjusted for decommissioning and inventory amortisation | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||
Corporate administration and marketing expenditure | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||
Lease payment sustaining | 8 | — | 8 | 4 | — | 1 | 22 | — | 27 | ||||||||||||||||||||
Sustaining exploration and study costs | — | — | — | 2 | — | 5 | 8 | — | 15 | ||||||||||||||||||||
Total sustaining capital expenditure | 71 | — | 71 | 81 | 79 | 23 | 111 | — | 294 | ||||||||||||||||||||
All-in sustaining costs | 325 | — | 325 | 320 | 304 | 467 | 632 | — | 1,723 | ||||||||||||||||||||
Adjusted for non-controlling interests and non -gold producing companies(1) | — | — | — | — | — | (70) | — | — | (70) | ||||||||||||||||||||
All-in sustaining costs adjusted for non-controlling interests and non-gold producing companies | 325 | — | 325 | 320 | 304 | 397 | 632 | — | 1,653 | ||||||||||||||||||||
All-in sustaining costs | 325 | — | 325 | 320 | 304 | 467 | 632 | — | 1,723 | ||||||||||||||||||||
Non-sustaining project capital expenditure | 19 | — | 19 | 65 | 80 | 4 | 43 | — | 192 | ||||||||||||||||||||
Non-sustaining lease payments | — | — | — | — | — | — | 3 | — | 3 | ||||||||||||||||||||
Non-sustaining exploration and study costs | 2 | — | 2 | 1 | — | 7 | 5 | — | 13 | ||||||||||||||||||||
Care and maintenance | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||
Closure and social responsibility costs not related to current operations | 10 | 1 | 11 | 1 | (23) | — | — | — | (22) | ||||||||||||||||||||
Other provisions | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||
All-in costs | 356 | 1 | 357 | 387 | 361 | 478 | 683 | — | 1,909 | ||||||||||||||||||||
Adjusted for non-controlling interests and non-gold producing companies(1) | — | — | — | — | — | (72) | — | — | (72) | ||||||||||||||||||||
All-in costs adjusted for non-controlling interests and non-gold producing companies | 356 | 1 | 357 | 387 | 361 | 406 | 683 | — | 1,837 | ||||||||||||||||||||
Gold sold – oz (000)(2) | 332 | — | 332 | 247 | 241 | 278 | 515 | — | 1,281 | ||||||||||||||||||||
All-in sustaining cost per unit – $/oz(3) | 979 | — | 979 | 1,299 | 1,264 | 1,428 | 1,227 | — | 1,291 | ||||||||||||||||||||
All-in cost per unit – $/oz(3) | 1,072 | — | 1,075 | 1,570 | 1,499 | 1,461 | 1,325 | — | 1,434 |
AFRICA | AFRICA | ||||||||||||||||||||||||||||
Kibali | Other | Joint Ventures | Iduapriem | Obuasi | Siguiri | Geita | Africa other | Subsidiaries | |||||||||||||||||||||
Total cash costs | |||||||||||||||||||||||||||||
Cost of sales per segmental information(5) | 342 | — | 342 | 314 | 266 | 488 | 594 | — | 1,662 | ||||||||||||||||||||
By-product revenue | (1) | — | (1) | (1) | (1) | — | (1) | — | (3) | ||||||||||||||||||||
Inventory change | 3 | — | 3 | 3 | 6 | 4 | 7 | (1) | 19 | ||||||||||||||||||||
Amortisation of tangible assets | (93) | — | (93) | (77) | (39) | (49) | (77) | — | (242) | ||||||||||||||||||||
Amortisation of right of use assets | (2) | — | (2) | (3) | — | (1) | (25) | — | (29) | ||||||||||||||||||||
Amortisation of intangible assets | — | — | — | — | (1) | — | — | — | (1) | ||||||||||||||||||||
Rehabilitation and other non-cash costs | (4) | — | (4) | 4 | (2) | (8) | (7) | — | (13) | ||||||||||||||||||||
Retrenchment costs | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||
Total cash costs net of by-product revenue | 245 | — | 245 | 240 | 229 | 434 | 491 | (1) | 1,393 | ||||||||||||||||||||
Adjusted for non-controlling interests non-gold producing companies and other(1) | — | — | — | — | — | (65) | — | — | (65) | ||||||||||||||||||||
Total cash costs adjusted for non-controlling interests and non-gold producing companies and other | 245 | — | 245 | 240 | 229 | 369 | 491 | (1) | 1,328 | ||||||||||||||||||||
Gold produced - oz (000)(2) | 337 | — | 337 | 248 | 250 | 279 | 521 | — | 1,298 | ||||||||||||||||||||
Total cash costs per unit - $/oz(3) | 725 | — | 725 | 970 | 914 | 1,319 | 944 | — | 1,023 |
AUSTRALIA | AMERICAS | PROJECTS (6) | ||||||||||||||||||||||||||||||
Sunrise Dam | Tropicana | Australia other | Total Australia | Cerro Vanguardia | AngloGold Ashanti Mineração | Serra Grande | Americas other | Total Americas | ||||||||||||||||||||||||
All-in sustaining costs | ||||||||||||||||||||||||||||||||
Cost of sales per segmental information(5) | 371 | 382 | 30 | 783 | 273 | 477 | 162 | 1 | 913 | — | ||||||||||||||||||||||
By-product revenue | (1) | (3) | — | (4) | (75) | (31) | — | — | (106) | — | ||||||||||||||||||||||
Cost of sales | 370 | 379 | 30 | 779 | 198 | 446 | 162 | 1 | 807 | — | ||||||||||||||||||||||
Realised other commodity contracts | ||||||||||||||||||||||||||||||||
Amortisation of tangible, intangible and right of use assets | (54) | (117) | (1) | (172) | (39) | (106) | (40) | — | (185) | — | ||||||||||||||||||||||
Adjusted for decommissioning and inventory amortisation | — | 1 | — | 1 | 6 | — | (1) | — | 5 | — | ||||||||||||||||||||||
Corporate administration and marketing expenditure | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||
Lease payment sustaining | 12 | 11 | 1 | 24 | — | 32 | 4 | — | 36 | 1 | ||||||||||||||||||||||
Sustaining exploration and study costs | 1 | 1 | — | 2 | 3 | 1 | — | — | 4 | — | ||||||||||||||||||||||
Total sustaining capital expenditure | 50 | 41 | — | 91 | 66 | 199 | 57 | — | 322 | — | ||||||||||||||||||||||
All-in sustaining costs | 379 | 316 | 30 | 725 | 234 | 572 | 182 | 1 | 989 | 1 | ||||||||||||||||||||||
Adjusted for non-controlling interests and non -gold producing companies(1) | — | — | — | — | (18) | — | — | — | (18) | — | ||||||||||||||||||||||
All-in sustaining costs adjusted for non-controlling interests and non-gold producing companies | 379 | 316 | 30 | 725 | 216 | 572 | 182 | 1 | 971 | 1 | ||||||||||||||||||||||
All-in sustaining costs | 379 | 316 | 30 | 725 | 234 | 572 | 182 | 1 | 989 | 1 | ||||||||||||||||||||||
Non-sustaining project capital expenditure | — | 111 | — | 111 | — | — | — | — | — | 17 | ||||||||||||||||||||||
Non-sustaining lease payments | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||
Non-sustaining exploration and study costs | 18 | 6 | 19 | 43 | 1 | 9 | 3 | 1 | 14 | 113 | ||||||||||||||||||||||
Care and maintenance | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||
Closure and social responsibility costs not related to current operations | — | — | — | — | — | 16 | 2 | — | 18 | — | ||||||||||||||||||||||
Other provisions | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||
All-in costs | 397 | 433 | 49 | 879 | 235 | 597 | 187 | 2 | 1,021 | 131 | ||||||||||||||||||||||
Adjusted for non-controlling interests and non -gold producing companies(1) | — | — | — | — | (18) | — | — | — | (18) | — | ||||||||||||||||||||||
All-in costs adjusted for non-controlling interests and non-gold producing companies | 397 | 433 | 49 | 879 | 217 | 597 | 187 | 2 | 1,003 | 131 | ||||||||||||||||||||||
Gold sold – oz (000)(2) | 228 | 311 | — | 539 | 166 | 310 | 89 | — | 565 | — | ||||||||||||||||||||||
All-in sustaining cost per unit – $/oz(3) | 1,666 | 1,014 | — | 1,345 | 1,301 | 1,841 | 2,053 | — | 1,718 | — | ||||||||||||||||||||||
All-in cost per unit – $/oz(3) | 1,746 | 1,391 | — | 1,631 | 1,309 | 1,923 | 2,102 | — | 1,775 | — |
AUSTRALIA | AMERICAS | |||||||||||||||||||||||||||||||
Sunrise Dam | Tropicana | Australia other | Total Australia | Cerro Vanguardia | AngloGold Ashanti Mineração | Serra Grande | Americas other | Total Americas | ||||||||||||||||||||||||
Total cash costs | ||||||||||||||||||||||||||||||||
Cost of sales per segmental information(5) | 371 | 382 | 30 | 783 | 273 | 477 | 162 | 1 | 913 | |||||||||||||||||||||||
By-product revenue | (1) | (3) | — | (4) | (75) | (31) | — | — | (106) | |||||||||||||||||||||||
Inventory change | 8 | (5) | — | 3 | 9 | 1 | (1) | (1) | 8 | |||||||||||||||||||||||
Amortisation of tangible assets | (43) | (109) | — | (152) | (39) | (79) | (36) | — | (154) | |||||||||||||||||||||||
Amortisation of right of use assets | (11) | (8) | (1) | (20) | — | (27) | (4) | — | (31) | |||||||||||||||||||||||
Amortisation of intangible assets | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||
Rehabilitation and other non-cash costs | 2 | 12 | (1) | 13 | 2 | (1) | (1) | — | — | |||||||||||||||||||||||
Retrenchment costs | — | — | (1) | (1) | (2) | (2) | (1) | — | (5) | |||||||||||||||||||||||
Total cash costs net of by-product revenue | 326 | 269 | 27 | 622 | 168 | 338 | 119 | — | 625 | |||||||||||||||||||||||
Adjusted for non-controlling interests, non-gold producing companies and other(1) | — | — | — | — | (13) | — | — | — | (13) | |||||||||||||||||||||||
Total cash costs net of by-product revenue adjusted for non-controlling interests and non-gold producing companies | 326 | 269 | 27 | 622 | 155 | 338 | 119 | — | 612 | |||||||||||||||||||||||
Gold produced – oz (000)(2) | 232 | 306 | — | 538 | 170 | 311 | 88 | — | 569 | |||||||||||||||||||||||
Total cash costs per unit – $/oz(3) | 1,402 | 881 | — | 1,157 | 913 | 1,088 | 1,355 | — | 1,078 |
JOINT VENTURES | SUBSIDIARIES | |||||||
All-in sustaining costs | ||||||||
Cost of sales per segmental information(5) | 342 | 3,362 | ||||||
By-product revenue | (1) | (113) | ||||||
Cost of sales | 341 | 3,249 | ||||||
Realised other commodity contracts | ||||||||
Amortisation of tangible, intangible and right of use assets | (95) | (633) | ||||||
Adjusted for decommissioning and inventory amortisation | — | 6 | ||||||
Corporate administration and marketing expenditure | — | 79 | ||||||
Lease payment sustaining | 8 | 90 | ||||||
Sustaining exploration and study costs | — | 21 | ||||||
Total sustaining capital expenditure | 71 | 708 | ||||||
All-in sustaining costs | 325 | 3,520 | ||||||
Adjusted for non-controlling interests and non-gold producing companies(1) | — | (88) | ||||||
All-in sustaining costs adjusted for non-controlling interests and non-gold producing companies | 325 | 3,432 | ||||||
All-in sustaining costs | 325 | 3,520 | ||||||
Non-sustaining project capital expenditure | 19 | 320 | ||||||
Non-sustaining lease payments | — | 3 | ||||||
Non-sustaining exploration and study costs | 2 | 183 | ||||||
Care and maintenance | — | — | ||||||
Closure and social responsibility costs not related to current operations | 11 | 3 | ||||||
Other provisions | — | 14 | ||||||
All-in costs | 357 | 4,043 | ||||||
Adjusted for non-controlling interests and non-gold producing companies(1) | — | (90) | ||||||
All-in costs adjusted for non-controlling interests and non-gold producing companies | 357 | 3,953 | ||||||
Gold sold – oz (000)(2) | 332 | 2,385 | ||||||
All-in sustaining cost per unit – $/oz(3) | 979 | 1,439 | ||||||
All-in cost per unit – $/oz(3) | 1,075 | 1,658 |
JOINT VENTURES | SUBSIDIARIES | |||||||
Total cash costs | ||||||||
Cost of sales per segmental information(5) | 342 | 3,362 | ||||||
By-product revenue | (1) | (113) | ||||||
Inventory change | 3 | 30 | ||||||
Amortisation of tangible assets | (93) | (551) | ||||||
Amortisation of right of use assets | (2) | (81) | ||||||
Amortisation of intangible assets | — | (1) | ||||||
Rehabilitation and other non-cash costs | (4) | — | ||||||
Retrenchment costs | — | (6) | ||||||
Total cash costs net of by-product revenue | 245 | 2,640 | ||||||
Adjusted for non-controlling interests and non-gold producing companies(1) | — | (78) | ||||||
Total cash costs net of by-product revenue adjusted for non-controlling interests and non-gold producing companies | 245 | 2,562 | ||||||
Gold produced – oz (000)(2) | 337 | 2,405 | ||||||
Total cash costs (adjusted) per unit – $/oz(3) | 725 | 1,066 |
Corporate (4) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
All-in sustaining costs | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost of sales per segmental information(5) | (5) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
By-product revenue | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost of sales | (5) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Realised other commodity contracts | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortisation of tangible, intangible and right of use assets | (3) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Adjusted for decommissioning and inventory amortisation | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Corporate administration and marketing expenditure | 73 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Lease payment sustaining | 3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sustaining exploration and study costs | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total sustaining capital expenditure | 11 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
All-in sustaining costs | 79 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Adjusted for non-controlling interests and non-gold producing companies(1) | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
All-in sustaining costs adjusted for non-controlling interests and non-gold producing companies | 79 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
All-in sustaining costs | 79 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Non-sustaining project capital expenditure | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Non-sustaining lease payments | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Non-sustaining exploration and study costs | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Care and maintenance | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Closure and social responsibility costs not related to current operations | 4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other provisions | 1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
All-in costs | 84 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Adjusted for non-controlling interests and non-gold producing companies(1) | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
All-in costs adjusted for non-controlling interests and non-gold producing companies | 84 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gold sold - oz (000)(2) | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
All-in sustaining cost per unit - $/oz(3) | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
All-in cost per unit - $/oz(3) | — |
Corporate (4) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total cash costs | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost of sales per segmental information(5) | (5) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
By-product revenue | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Inventory change | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortisation of tangible assets | (1) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortisation of right of use assets | (1) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortisation of intangible assets | (1) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rehabilitation and other non-cash costs | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retrenchment costs | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total cash costs net of by-product revenue | (8) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Adjusted for non-controlling interests,(1) | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total cash costs for non-controlling interests | (8) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gold produced – oz (000)(2) | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total cash costs per unit – $/oz(3) | — |
AFRICA | AFRICA | ||||||||||||||||||||||||||||
Kibali | Other | Joint Ventures | Iduapriem | Obuasi | Siguiri | Geita | Africa Other | Subsidiaries | |||||||||||||||||||||
All-in sustaining costs | |||||||||||||||||||||||||||||
Cost of sales per segmental information(5) | 350 | — | 350 | 238 | 164 | 410 | 488 | — | 1,300 | ||||||||||||||||||||
By-product revenue | (2) | — | (2) | (1) | — | (1) | (1) | — | (3) | ||||||||||||||||||||
Cost of sales | 348 | — | 348 | 237 | 164 | 409 | 487 | — | 1,297 | ||||||||||||||||||||
Realised other commodity contracts | |||||||||||||||||||||||||||||
Amortisation of tangible, intangible and right of use assets | (105) | — | (105) | (19) | (22) | (47) | (75) | — | (163) | ||||||||||||||||||||
Adjusted for decommissioning and inventory amortisation | 1 | — | 1 | 1 | — | — | 1 | — | 2 | ||||||||||||||||||||
Corporate administration and marketing expenditure | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||
Lease payment sustaining | 9 | — | 9 | 2 | — | 1 | 19 | — | 22 | ||||||||||||||||||||
Sustaining exploration and study costs | — | — | — | 1 | — | 3 | 4 | — | 8 | ||||||||||||||||||||
Total sustaining capital expenditure | 61 | — | 61 | 103 | 46 | 18 | 65 | — | 232 | ||||||||||||||||||||
All-in sustaining costs | 314 | — | 314 | 325 | 188 | 384 | 501 | — | 1,398 | ||||||||||||||||||||
Adjusted for non-controlling interests and non -gold producing companies(1) | — | — | — | — | — | (58) | — | — | (58) | ||||||||||||||||||||
All-in sustaining costs adjusted for non-controlling interests and non-gold producing companies | 314 | — | 314 | 325 | 188 | 326 | 501 | — | 1,340 | ||||||||||||||||||||
All-in sustaining costs | 314 | — | 314 | 325 | 188 | 384 | 501 | — | 1,398 | ||||||||||||||||||||
Non-sustaining project capital expenditure | 11 | — | 11 | 2 | 122 | 20 | 58 | — | 202 | ||||||||||||||||||||
Non-sustaining lease payments | — | — | — | — | — | — | 2 | — | 2 | ||||||||||||||||||||
Non-sustaining exploration and study costs | 2 | — | 2 | 3 | 2 | 2 | 1 | — | 8 | ||||||||||||||||||||
Care and maintenance | — | — | — | — | 45 | — | — | — | 45 | ||||||||||||||||||||
Closure and social responsibility costs not related to current operations | 3 | — | 3 | — | 10 | — | — | — | 10 | ||||||||||||||||||||
Other provisions | — | — | — | — | — | — | 3 | — | 3 | ||||||||||||||||||||
All-in costs | 330 | — | 330 | 330 | 367 | 406 | 565 | — | 1,668 | ||||||||||||||||||||
Adjusted for non-controlling interests and non-gold producing companies(1) | — | — | — | — | — | (61) | — | — | (61) | ||||||||||||||||||||
All-in costs adjusted for non-controlling interests and non-gold producing companies | 330 | — | 330 | 330 | 367 | 345 | 565 | — | 1,607 | ||||||||||||||||||||
Gold sold – oz (000)(2) | 367 | — | 367 | 201 | 114 | 258 | 487 | — | 1,060 | ||||||||||||||||||||
All-in sustaining cost per unit – $/oz(3) | 856 | — | 856 | 1,619 | 1,653 | 1,267 | 1,029 | — | 1,264 | ||||||||||||||||||||
All-in cost per unit – $/oz(3) | 898 | — | 900 | 1,642 | 3,229 | 1,340 | 1,161 | — | 1,516 |
AFRICA | AFRICA | ||||||||||||||||||||||||||||
Kibali | Other | Joint Ventures | Iduapriem | Obuasi | Siguiri | Geita | Africa other | Subsidiaries | |||||||||||||||||||||
Total cash costs | |||||||||||||||||||||||||||||
Cost of sales per segmental information(5) | 350 | — | 350 | 238 | 164 | 410 | 488 | — | 1,300 | ||||||||||||||||||||
By-product revenue | (2) | — | (2) | (1) | — | (1) | (1) | — | (3) | ||||||||||||||||||||
Inventory change | (1) | — | (1) | 1 | (10) | (1) | (1) | — | (11) | ||||||||||||||||||||
Amortisation of tangible assets | (100) | — | (100) | (17) | (21) | (46) | (55) | — | (139) | ||||||||||||||||||||
Amortisation of right of use assets | (5) | — | (5) | (2) | — | (1) | (20) | — | (23) | ||||||||||||||||||||
Amortisation of intangible assets | — | — | — | — | (1) | — | — | — | (1) | ||||||||||||||||||||
Rehabilitation and other non-cash costs | (5) | — | (5) | (1) | (12) | 2 | (12) | — | (23) | ||||||||||||||||||||
Retrenchment costs | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||
Total cash costs net of by-product revenue | 237 | — | 237 | 218 | 120 | 363 | 399 | — | 1,100 | ||||||||||||||||||||
Adjusted for non-controlling interests non-gold producing companies and other(1) | — | — | — | — | — | (55) | — | — | (55) | ||||||||||||||||||||
Total cash costs adjusted for non-controlling interests and non-gold producing companies and other | 237 | — | 237 | 218 | 120 | 308 | 399 | — | 1,045 | ||||||||||||||||||||
Gold produced - oz (000)(2) | 365 | — | 365 | 202 | 108 | 258 | 486 | — | 1,054 | ||||||||||||||||||||
Total cash costs per unit - $/oz(3) | 647 | — | 647 | 1,081 | 1,112 | 1,200 | 822 | — | 991 |
AUSTRALIA | AMERICAS | PROJECTS (6) Restated | ||||||||||||||||||||||||||||||
Sunrise Dam | Tropicana | Australia other | Total Australia | Cerro Vanguardia | AngloGold Ashanti Mineração | Serra Grande | Americas other | Total Americas | ||||||||||||||||||||||||
All-in sustaining costs | ||||||||||||||||||||||||||||||||
Cost of sales per segmental information(5) | 364 | 346 | 30 | 740 | 261 | 435 | 123 | 3 | 822 | — | ||||||||||||||||||||||
By-product revenue | (1) | (3) | — | (4) | (93) | (26) | — | — | (119) | — | ||||||||||||||||||||||
Cost of sales | 363 | 343 | 30 | 736 | 168 | 409 | 123 | 3 | 703 | — | ||||||||||||||||||||||
Realised other commodity contracts | ||||||||||||||||||||||||||||||||
Amortisation of tangible, intangible and right of use assets | (60) | (88) | (2) | (150) | (27) | (108) | (25) | (1) | (161) | — | ||||||||||||||||||||||
Adjusted for decommissioning and inventory amortisation | 1 | 1 | — | 2 | — | (4) | — | — | (4) | — | ||||||||||||||||||||||
Corporate administration and marketing expenditure | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||
Lease payment sustaining | 13 | 12 | — | 25 | — | 15 | 4 | 1 | 20 | — | ||||||||||||||||||||||
Sustaining exploration and study costs | — | — | — | — | 1 | 1 | — | — | 2 | — | ||||||||||||||||||||||
Total sustaining capital expenditure | 47 | 82 | 1 | 130 | 69 | 193 | 82 | — | 344 | — | ||||||||||||||||||||||
All-in sustaining costs | 364 | 350 | 29 | 743 | 211 | 506 | 184 | 3 | 904 | — | ||||||||||||||||||||||
Adjusted for non-controlling interests and non -gold producing companies(1) | — | — | — | — | (16) | — | — | — | (16) | — | ||||||||||||||||||||||
All-in sustaining costs adjusted for non-controlling interests and non-gold producing companies | 364 | 350 | 29 | 743 | 195 | 506 | 184 | 3 | 888 | — | ||||||||||||||||||||||
All-in sustaining costs | 364 | 350 | 29 | 743 | 211 | 506 | 184 | 3 | 904 | — | ||||||||||||||||||||||
Non-sustaining project capital expenditure | 15 | 40 | — | 55 | — | 2 | — | — | 2 | 52 | ||||||||||||||||||||||
Non-sustaining lease payments | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||
Non-sustaining exploration and study costs | 27 | 8 | 21 | 56 | 1 | 11 | 4 | 1 | 17 | 72 | ||||||||||||||||||||||
Care and maintenance | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||
Closure and social responsibility costs not related to current operations | — | — | — | — | — | 7 | 2 | 1 | 10 | — | ||||||||||||||||||||||
Other provisions | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||
All-in costs | 406 | 398 | 50 | 854 | 212 | 526 | 190 | 5 | 933 | 124 | ||||||||||||||||||||||
Adjusted for non-controlling interests and non -gold producing companies(1) | — | — | — | — | (16) | — | — | — | (16) | — | ||||||||||||||||||||||
All-in costs adjusted for non-controlling interests and non-gold producing companies | 406 | 398 | 50 | 854 | 196 | 526 | 190 | 5 | 917 | 124 | ||||||||||||||||||||||
Gold sold – oz (000)(2) | 231 | 264 | — | 495 | 144 | 334 | 83 | — | 561 | — | ||||||||||||||||||||||
All-in sustaining cost per unit – $/oz(3) | 1,573 | 1,326 | — | 1,500 | 1,353 | 1,519 | 2,220 | — | 1,587 | — | ||||||||||||||||||||||
All-in cost per unit – $/oz(3) | 1,757 | 1,506 | — | 1,725 | 1,362 | 1,582 | 2,283 | — | 1,635 | — |
AUSTRALIA | AMERICAS | |||||||||||||||||||||||||||||||
Sunrise Dam | Tropicana | Australia other | Total Australia | Cerro Vanguardia | AngloGold Ashanti Mineração | Serra Grande | Americas other | Total Americas | ||||||||||||||||||||||||
Total cash costs | ||||||||||||||||||||||||||||||||
Cost of sales per segmental information(5) | 364 | 346 | 30 | 740 | 261 | 435 | 123 | 3 | 822 | |||||||||||||||||||||||
By-product revenue | (1) | (3) | — | (4) | (93) | (26) | — | — | (119) | |||||||||||||||||||||||
Inventory change | (3) | 3 | — | — | 7 | (3) | 1 | — | 5 | |||||||||||||||||||||||
Amortisation of tangible assets | (49) | (80) | — | (129) | (27) | (94) | (21) | — | (142) | |||||||||||||||||||||||
Amortisation of right of use assets | (11) | (8) | (1) | (20) | — | (14) | (4) | (1) | (19) | |||||||||||||||||||||||
Amortisation of intangible assets | — | — | (1) | (1) | — | — | — | — | — | |||||||||||||||||||||||
Rehabilitation and other non-cash costs | 3 | 3 | (1) | 5 | (8) | (12) | — | — | (20) | |||||||||||||||||||||||
Retrenchment costs | — | — | — | — | (1) | (1) | — | — | (2) | |||||||||||||||||||||||
Total cash costs net of by-product revenue | 303 | 261 | 27 | 591 | 139 | 285 | 99 | 2 | 525 | |||||||||||||||||||||||
Adjusted for non-controlling interests, non-gold producing companies and other(1) | — | — | — | — | (10) | — | — | — | (10) | |||||||||||||||||||||||
Total cash costs net of by-product revenue adjusted for non-controlling interests and non-gold producing companies | 303 | 261 | 27 | 591 | 129 | 285 | 99 | 2 | 515 | |||||||||||||||||||||||
Gold produced – oz (000)(2) | 229 | 265 | — | 494 | 145 | 331 | 83 | — | 559 | |||||||||||||||||||||||
Total cash costs per unit – $/oz(3) | 1,321 | 987 | — | 1,196 | 894 | 858 | 1,192 | — | 921 |
JOINT VENTURES | SUBSIDIARIES | |||||||
All-in sustaining costs | ||||||||
Cost of sales per segmental information(5) | 350 | 2,857 | ||||||
By-product revenue | (2) | (126) | ||||||
Cost of sales | 348 | 2,731 | ||||||
Realised other commodity contracts | ||||||||
Amortisation of tangible, intangible and right of use assets | (105) | (477) | ||||||
Adjusted for decommissioning and inventory amortisation | 1 | — | ||||||
Corporate administration and marketing expenditure | — | 73 | ||||||
Lease payment sustaining | 9 | 70 | ||||||
Sustaining exploration and study costs | — | 10 | ||||||
Total sustaining capital expenditure | 61 | 717 | ||||||
All-in sustaining costs | 314 | 3,124 | ||||||
Adjusted for non-controlling interests and non-gold producing companies(1) | — | (74) | ||||||
All-in sustaining costs adjusted for non-controlling interests and non-gold producing companies | 314 | 3,050 | ||||||
All-in sustaining costs | 314 | 3,124 | ||||||
Non-sustaining project capital expenditure | 11 | 311 | ||||||
Non-sustaining lease payments | — | 2 | ||||||
Non-sustaining exploration and study costs | 2 | 153 | ||||||
Care and maintenance | — | 45 | ||||||
Closure and social responsibility costs not related to current operations | 3 | 24 | ||||||
Other provisions | — | 4 | ||||||
All-in costs | 330 | 3,663 | ||||||
Adjusted for non-controlling interests and non-gold producing companies(1) | — | (77) | ||||||
All-in costs adjusted for non-controlling interests and non-gold producing companies | 330 | 3,586 | ||||||
Gold sold – oz (000)(2) | 367 | 2,116 | ||||||
All-in sustaining cost per unit – $/oz(3) | 856 | 1,441 | ||||||
All-in cost per unit – $/oz(3) | 900 | 1,695 |
JOINT VENTURES | SUBSIDIARIES | |||||||
Total cash costs | ||||||||
Cost of sales per segmental information(5) | 350 | 2,857 | ||||||
By-product revenue | (2) | (126) | ||||||
Inventory change | (1) | (6) | ||||||
Amortisation of tangible assets | (100) | (411) | ||||||
Amortisation of right of use assets | (5) | (63) | ||||||
Amortisation of intangible assets | — | (3) | ||||||
Rehabilitation and other non-cash costs | (5) | (38) | ||||||
Retrenchment costs | — | (2) | ||||||
Total cash costs net of by-product revenue | 237 | 2,208 | ||||||
Adjusted for non-controlling interests, non-gold producing companies and other(1) | — | (65) | ||||||
Total cash costs net of by-product revenue adjusted for non-controlling interests and non-gold producing companies | 237 | 2,143 | ||||||
Gold produced – oz (000)(2) | 365 | 2,107 | ||||||
Total cash costs per unit – $/oz(3) | 647 | 1,017 |
Corporate (4) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
All-in sustaining costs | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost of sales per segmental information(5) | (2) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
By-product revenue | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost of sales | (2) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Realised other commodity contracts | 5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortisation of tangible, intangible and | (2) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Adjusted for decommissioning and inventory amortisation | (1) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Corporate administration and marketing | 67 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sustaining exploration and study costs | 1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total sustaining capital expenditure | 2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
All-in sustaining costs | 73 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Adjusted for non-controlling interests and non-gold producing companies(1) | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
All-in sustaining costs adjusted for non-controlling interests and non-gold producing companies | 73 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
All-in sustaining costs | 73 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Non-sustaining project capital expenditure | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
— | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Non-sustaining exploration and study costs | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Care and maintenance | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
9 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other provisions | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
All-in costs | 82 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Adjusted for non-controlling interests and non-gold producing companies(1) | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
All-in costs adjusted for non-controlling interests and non-gold producing companies | 82 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gold sold - oz (000)(2) | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
All-in sustaining cost per unit - $/oz(3) | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
All-in cost per unit - $/oz(3) | — |
Corporate(4) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total cash costs | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost of sales per segmental information(5) | (2) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
By-product revenue | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Inventory change | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortisation of | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortisation of | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortisation of intangible assets | (2) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rehabilitation and other non-cash costs | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retrenchment costs | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total cash costs net of by-product revenue | (4) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Adjusted for non-controlling interests, non-gold producing companies and other(1) | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total cash costs net of by-product revenue adjusted for non-controlling interests and non-gold producing companies | (4) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gold produced – oz (000)(2) | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total cash costs per unit – $/oz(3) | — |
DRC | Mali | Joint | Ghana | Guinea | Tanzania | Africa other | Subsidiaries | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Kibali | Morila | Sadiola | Ventures | Iduapriem | Obuasi | Siguiri | Geita | ||||||||||||||||||||||||||||||||||||||||||||||||||||
All-in sustaining costs | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost of sales per segmental information(5) | 340 | — | — | 340 | 280 | 34 | 377 | 542 | (1) | 1,232 | |||||||||||||||||||||||||||||||||||||||||||||||||
By-product revenue | (1) | — | — | (1) | (1) | — | — | (2) | — | (3) | |||||||||||||||||||||||||||||||||||||||||||||||||
Amortisation of tangible and intangible assets | (104) | — | — | (104) | (74) | (6) | (41) | (124) | — | (245) | |||||||||||||||||||||||||||||||||||||||||||||||||
Adjusted for decommissioning and inventory amortisation | 1 | — | — | 1 | 1 | — | — | 4 | — | 5 | |||||||||||||||||||||||||||||||||||||||||||||||||
Lease payment sustaining | 9 | — | — | 9 | — | — | — | 17 | — | 17 | |||||||||||||||||||||||||||||||||||||||||||||||||
Corporate administration and marketing related to current operations | — | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||
Inventory writedown to net realisable value and other stockpile adjustments | — | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||
Sustaining exploration and study costs | — | — | — | — | 3 | — | 2 | 5 | — | 10 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total sustaining capital expenditure | 52 | — | — | 52 | 60 | 7 | 15 | 80 | 1 | 163 | |||||||||||||||||||||||||||||||||||||||||||||||||
Realised other commodity contracts | — | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||
All-in sustaining costs | 296 | — | — | 297 | 269 | 35 | 353 | 522 | — | 1,179 | |||||||||||||||||||||||||||||||||||||||||||||||||
Adjusted for non-controlling interests and non -gold producing companies(1) | — | — | — | — | — | — | (53) | — | — | (53) | |||||||||||||||||||||||||||||||||||||||||||||||||
All-in sustaining costs adjusted for non-controlling interests and non-gold producing companies | 296 | — | — | 297 | 269 | 35 | 300 | 522 | — | 1,126 | |||||||||||||||||||||||||||||||||||||||||||||||||
All-in sustaining costs | 296 | — | — | 297 | 269 | 35 | 353 | 522 | — | 1,179 | |||||||||||||||||||||||||||||||||||||||||||||||||
Non-sustaining project capital expenditure | — | — | — | — | — | 161 | 15 | 7 | — | 183 | |||||||||||||||||||||||||||||||||||||||||||||||||
Lease payment non sustaining | — | — | — | — | — | — | — | 2 | — | 2 | |||||||||||||||||||||||||||||||||||||||||||||||||
Technology improvements | — | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||
Non-sustaining exploration and study costs | — | — | — | — | 2 | 2 | 5 | 2 | — | 11 | |||||||||||||||||||||||||||||||||||||||||||||||||
Care and maintenance costs | — | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||
Corporate and social responsibility costs not related to current operations | 2 | 6 | (3) | 4 | — | 10 | — | — | — | 10 | |||||||||||||||||||||||||||||||||||||||||||||||||
Other provisions | — | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||
All-in costs | 298 | 6 | (3) | 301 | 271 | 208 | 373 | 533 | — | 1,385 | |||||||||||||||||||||||||||||||||||||||||||||||||
Adjusted for non-controlling interests and non-gold producing companies(1) | — | — | — | — | — | — | (56) | — | — | (56) | |||||||||||||||||||||||||||||||||||||||||||||||||
All-in costs adjusted for non-controlling interests and non-gold producing companies | 298 | 6 | (3) | 301 | 271 | 208 | 317 | 533 | — | 1,329 | |||||||||||||||||||||||||||||||||||||||||||||||||
Gold sold – oz (000)(2) | 365 | — | — | 365 | 274 | 27 | 215 | 639 | — | 1,155 | |||||||||||||||||||||||||||||||||||||||||||||||||
All-in sustaining cost per unit – $/oz(3) | 809 | — | — | 810 | 985 | 1,316 | 1,397 | 814 | — | 975 | |||||||||||||||||||||||||||||||||||||||||||||||||
All-in cost per unit – $/oz(3) | 817 | — | — | 824 | 992 | 7,731 | 1,476 | 831 | — | 1,149 |
DRC | Mali | Joint | Ghana | Guinea | Tanzania | Africa other | Subsidiaries | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Kibali | Morila | Sadiola | Ventures | Iduapriem | Obuasi | Siguiri | Geita | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total cash costs | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost of sales per segmental information(5) | 340 | — | — | 340 | 280 | 34 | 377 | 542 | (1) | 1,232 | |||||||||||||||||||||||||||||||||||||||||||||||||
By-product revenue | (1) | — | — | (1) | (1) | — | — | (2) | — | (3) | |||||||||||||||||||||||||||||||||||||||||||||||||
Inventory change | (1) | — | — | (1) | 1 | 9 | (1) | (12) | — | (3) | |||||||||||||||||||||||||||||||||||||||||||||||||
Amortisation of intangible assets | — | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||
Amortisation of tangible and intangible assets | (104) | — | — | (104) | (74) | (6) | (41) | (124) | — | (245) | |||||||||||||||||||||||||||||||||||||||||||||||||
Rehabilitation and other non-cash costs | (4) | — | — | (4) | (6) | (2) | (9) | (5) | — | (22) | |||||||||||||||||||||||||||||||||||||||||||||||||
Retrenchment costs | — | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||
Total cash costs net of by-product revenue | 230 | — | — | 230 | 200 | 35 | 326 | 399 | (1) | 959 | |||||||||||||||||||||||||||||||||||||||||||||||||
Adjusted for non-controlling interests, non-gold producing companies and other(1) | — | — | — | — | — | — | (49) | — | — | (49) | |||||||||||||||||||||||||||||||||||||||||||||||||
Total cash costs net of by-product revenue adjusted for non-controlling interests and non-gold producing companies | 230 | — | — | 230 | 200 | 35 | 277 | 399 | (1) | 910 | |||||||||||||||||||||||||||||||||||||||||||||||||
Gold produced - oz (000) (2) | 364 | — | — | 364 | 275 | 30 | — | 215 | — | 623 | — | — | 1,143 | ||||||||||||||||||||||||||||||||||||||||||||||
Total cash costs per unit - $/oz(3) | 629 | — | — | 629 | 731 | 1,145 | 1,293 | 641 | — | 797 |
Australia | Total Australia | Argentina | Brazil | Americas other | Total Americas | ||||||||||||||||||||||||||||||||||||||||||||||||
Sunrise Dam | Tropicana | Australia other | Cerro Vanguardia | AngloGold Ashanti Mineração | Serra Grande | ||||||||||||||||||||||||||||||||||||||||||||||||
All-in sustaining costs | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost of sales per segmental information(5) | 342 | 338 | 25 | 705 | 269 | 391 | 102 | 2 | 764 | ||||||||||||||||||||||||||||||||||||||||||||
By-product revenue | (1) | (2) | — | (3) | (82) | (17) | — | — | (99) | ||||||||||||||||||||||||||||||||||||||||||||
Amortisation of tangible and intangible assets | (64) | (94) | (2) | (160) | (26) | (109) | (27) | (1) | (163) | ||||||||||||||||||||||||||||||||||||||||||||
Adjusted for decommissioning and inventory amortisation | 2 | 1 | — | 3 | (7) | 3 | — | — | (4) | ||||||||||||||||||||||||||||||||||||||||||||
Lease payment sustaining | 11 | 10 | 1 | 22 | — | 8 | 2 | — | 10 | ||||||||||||||||||||||||||||||||||||||||||||
Corporate administration and marketing related to current operations | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||
Inventory writedown to net realisable value and other stockpile adjustments | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||
Sustaining exploration and study costs | — | 1 | — | 1 | 2 | 2 | — | — | 4 | ||||||||||||||||||||||||||||||||||||||||||||
Total sustaining capital expenditure | 50 | 64 | — | 114 | 31 | 103 | 33 | — | 167 | ||||||||||||||||||||||||||||||||||||||||||||
Realised other commodity contracts | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||
All-in sustaining costs | 340 | 318 | 24 | 682 | 187 | 381 | 110 | 1 | 679 | ||||||||||||||||||||||||||||||||||||||||||||
Adjusted for non-controlling interests and non -gold producing companies(1) | — | — | — | — | (14) | — | — | — | (14) | ||||||||||||||||||||||||||||||||||||||||||||
All-in sustaining costs adjusted for non-controlling interests and non-gold producing companies | 340 | 318 | 24 | 682 | 173 | 381 | 110 | 1 | 665 | ||||||||||||||||||||||||||||||||||||||||||||
All-in sustaining costs | 340 | 318 | 24 | 682 | 187 | 381 | 110 | 1 | 679 | ||||||||||||||||||||||||||||||||||||||||||||
Non-sustaining project capital expenditure | 3 | 25 | — | 28 | — | — | — | 49 | 49 | ||||||||||||||||||||||||||||||||||||||||||||
Lease payment non sustaining | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||
Technology improvements | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||
Non-sustaining exploration and study costs | 22 | 5 | 17 | 44 | 1 | 6 | 3 | 47 | 57 | ||||||||||||||||||||||||||||||||||||||||||||
Care and maintenance | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||
Corporate and social responsibility costs not related to current operations | — | — | — | — | — | 8 | 2 | — | 10 | ||||||||||||||||||||||||||||||||||||||||||||
Other provisions | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||
All-in costs | 365 | 348 | 41 | 754 | 188 | 395 | 115 | 97 | 795 | ||||||||||||||||||||||||||||||||||||||||||||
Adjusted for non-controlling interests and non -gold producing companies(1) | — | — | — | — | (14) | — | — | — | (14) | ||||||||||||||||||||||||||||||||||||||||||||
All-in costs adjusted for non-controlling interests and non-gold producing companies | 365 | 348 | 41 | 754 | 174 | 395 | 115 | 97 | 781 | ||||||||||||||||||||||||||||||||||||||||||||
Gold sold – oz (000)(2) | 258 | 299 | — | 557 | 186 | 364 | 114 | — | 664 | ||||||||||||||||||||||||||||||||||||||||||||
All-in sustaining cost per unit – $/oz(3) | 1,320 | 1,061 | — | 1,225 | 931 | 1,050 | 953 | — | 1,003 | ||||||||||||||||||||||||||||||||||||||||||||
All-in cost per unit – $/oz(3) | 1,417 | 1,164 | — | 1,356 | 934 | 1,091 | 997 | — | 1,179 |
Australia | Total Australia | Argentina | Brazil | Americas other | Total Americas | ||||||||||||||||||||||||||||||||||||||||||||||||
Sunrise Dam | Tropicana | Australia other | Cerro Vanguardia | AngloGold Ashanti Mineração | Serra Grande | ||||||||||||||||||||||||||||||||||||||||||||||||
Total cash costs | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost of sales per segmental information(5) | 342 | 338 | 25 | 705 | 269 | 391 | 102 | 2 | 764 | ||||||||||||||||||||||||||||||||||||||||||||
By-product revenue | (1) | (2) | — | (3) | (82) | (17) | — | — | (99) | ||||||||||||||||||||||||||||||||||||||||||||
Inventory change | (1) | (1) | — | (2) | (16) | 1 | — | — | (16) | ||||||||||||||||||||||||||||||||||||||||||||
Amortisation of intangible assets | — | — | (1) | (1) | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||
Amortisation of tangible and intangible assets | (64) | (94) | (1) | (159) | (26) | (109) | (27) | (1) | (163) | ||||||||||||||||||||||||||||||||||||||||||||
Rehabilitation and other non-cash costs | (2) | (1) | (1) | (4) | (13) | 4 | 3 | (1) | (6) | ||||||||||||||||||||||||||||||||||||||||||||
Retrenchment costs | — | — | — | — | — | (1) | — | — | (2) | ||||||||||||||||||||||||||||||||||||||||||||
Total cash costs net of by-product revenue | 274 | 240 | 22 | 536 | 132 | 269 | 77 | — | 478 | ||||||||||||||||||||||||||||||||||||||||||||
Adjusted for non-controlling interests, non-gold producing companies and other(1) | — | — | — | — | (10) | — | — | — | (10) | ||||||||||||||||||||||||||||||||||||||||||||
Total cash costs net of by-product revenue adjusted for non-controlling interests and non-gold producing companies | 274 | 240 | 22 | 536 | 122 | 269 | 77 | — | 468 | ||||||||||||||||||||||||||||||||||||||||||||
Gold produced – oz (000) (2) | 256 | 298 | — | 554 | 173 | 362 | 114 | — | 649 | ||||||||||||||||||||||||||||||||||||||||||||
Total cash costs per unit – $/oz(3) | 1,069 | 807 | — | 968 | 699 | 747 | 665 | — | 721 |
JOINT VENTURES | SUBSIDIARIES | |||||||
All-in sustaining costs | ||||||||
Cost of sales per segmental information(5) | 340 | 2,699 | ||||||
By-product revenue | (1) | (105) | ||||||
Amortisation of tangible and intangible assets | (104) | (570) | ||||||
Adjusted for decommissioning and inventory amortisation | 1 | 4 | ||||||
Lease payment sustaining | 9 | 52 | ||||||
Corporate administration and marketing related to current operations | — | 67 | ||||||
Inventory write-down to net realisable value and other stockpile adjustments | — | — | ||||||
Sustaining exploration and study costs | — | 15 | ||||||
Total sustaining capital expenditure | 52 | 445 | ||||||
Realised other commodity contracts | — | 5 | ||||||
All-in sustaining costs | 297 | 2,612 | ||||||
Adjusted for non-controlling interests and non-gold producing companies(1) | — | (67) | ||||||
All-in sustaining costs adjusted for non-controlling interests and non-gold producing companies | 297 | 2,545 | ||||||
All-in sustaining costs | 297 | 2,612 | ||||||
Non-sustaining project capital expenditure | — | 260 | ||||||
Lease payment non sustaining | — | 2 | ||||||
Technology improvements | — | — | ||||||
Non-sustaining exploration and study costs | — | 112 | ||||||
Care and maintenance costs | — | — | ||||||
Corporate and social responsibility costs not related to current operations | 4 | 29 | ||||||
Other provisions | — | — | ||||||
All-in costs | 301 | 3,015 | ||||||
Adjusted for non-controlling interests and non-gold producing companies(1) | — | (70) | ||||||
All-in costs adjusted for non-controlling interests and non-gold producing companies | 301 | 2,945 | ||||||
Gold sold – oz (000)(2) | 365 | 2,376 | ||||||
All-in sustaining cost per unit – $/oz(3) | 810 | 1,072 | ||||||
All-in cost per unit – $/oz(3) | 824 | 1,240 |
JOINT VENTURES | SUBSIDIARIES | |||||||
Total cash costs | ||||||||
Cost of sales per segmental information(5) | 340 | 2,699 | ||||||
By-product revenue | (1) | (105) | ||||||
Inventory change | (1) | (21) | ||||||
Amortisation of intangible assets | — | (2) | ||||||
Amortisation of tangible and intangible assets | (104) | (568) | ||||||
Rehabilitation and other non-cash costs | (4) | (32) | ||||||
Retrenchment costs | — | (2) | ||||||
Total cash costs net of by-product revenue | 230 | 1,969 | ||||||
Adjusted for non-controlling interests, non-gold producing companies and other(1) | — | (59) | ||||||
Total cash costs net of by-product revenue adjusted for non-controlling interests and non-gold producing companies | 230 | 1,910 | ||||||
Gold produced – oz (000)(2) | 364 | 2,345 | ||||||
Total cash costs (adjusted) per unit – $/oz(3) | 629 | 815 |
DRC | Mali | Joint | Ghana | Guinea | Tanzania | Africa other | Subsidiaries | ||||||||||||||||||||||||||||||||||||||||||||||
Kibali | Morila | Sadiola | Ventures | Iduapriem | Obuasi | Siguiri | Geita | ||||||||||||||||||||||||||||||||||||||||||||||
All-in sustaining costs | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost of sales per segmental information(5) | 338 | 36 | 54 | 428 | 288 | — | 315 | 571 | (1) | 1,173 | |||||||||||||||||||||||||||||||||||||||||||
By-product revenue | (1) | — | — | (1) | (1) | — | — | (1) | — | (2) | |||||||||||||||||||||||||||||||||||||||||||
Amortisation of tangible and intangible assets | (130) | (3) | (4) | (137) | (58) | — | (38) | (133) | (1) | (230) | |||||||||||||||||||||||||||||||||||||||||||
Adjusted for decommissioning and inventory amortisation | 1 | 1 | — | 2 | 1 | — | — | 3 | 1 | 4 | |||||||||||||||||||||||||||||||||||||||||||
Lease payment sustaining | — | — | — | — | — | — | — | 19 | — | 19 | |||||||||||||||||||||||||||||||||||||||||||
Corporate administration and marketing related to current operations | — | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||
Inventory writedown to net realisable value and other stockpile adjustments | — | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||
Sustaining exploration and study costs | — | — | — | — | 3 | — | 3 | 6 | (1) | 12 | |||||||||||||||||||||||||||||||||||||||||||
Total sustaining capital expenditure | 46 | — | — | 46 | 16 | — | 15 | 75 | — | 107 | |||||||||||||||||||||||||||||||||||||||||||
Amortisation relating to inventory | — | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||
Realised other commodity contracts | — | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||
All-in sustaining costs | 254 | 34 | 50 | 338 | 249 | — | 295 | 540 | (1) | 1,083 | |||||||||||||||||||||||||||||||||||||||||||
Adjusted for non-controlling interests and non -gold producing companies(1) | — | — | — | — | — | — | (44) | — | — | (44) | |||||||||||||||||||||||||||||||||||||||||||
All-in sustaining costs adjusted for non-controlling interests and non-gold producing companies | 254 | 34 | 50 | 338 | 249 | — | 251 | 540 | (1) | 1,039 | |||||||||||||||||||||||||||||||||||||||||||
All-in sustaining costs | 254 | 34 | 50 | 338 | 249 | — | 295 | 540 | (1) | 1,083 | |||||||||||||||||||||||||||||||||||||||||||
Non-sustaining project capital expenditure | 5 | — | — | 5 | — | 246 | 6 | — | — | 252 | |||||||||||||||||||||||||||||||||||||||||||
Lease payment non sustaining | — | — | — | — | — | — | — | 1 | — | 1 | |||||||||||||||||||||||||||||||||||||||||||
Technology improvements | — | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||
Non-sustaining exploration and study costs | 5 | — | — | 4 | 1 | — | 4 | 4 | 1 | 10 | |||||||||||||||||||||||||||||||||||||||||||
Care and maintenance costs | — | — | — | — | — | 48 | — | — | (1) | 47 | |||||||||||||||||||||||||||||||||||||||||||
Corporate and social responsibility costs not related to current operations | 1 | — | — | — | 2 | — | 9 | — | — | 11 | |||||||||||||||||||||||||||||||||||||||||||
Other provisions | — | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||
All-in costs | 265 | 34 | 49 | 347 | 252 | 294 | 314 | 545 | (1) | 1,404 | |||||||||||||||||||||||||||||||||||||||||||
Adjusted for non-controlling interests and non -gold producing companies(1) | — | — | — | — | — | — | (47) | — | — | (47) | |||||||||||||||||||||||||||||||||||||||||||
All-in costs adjusted for non-controlling interests and non-gold producing companies | 265 | 34 | 49 | 347 | 252 | 294 | 267 | 545 | (1) | 1,357 | |||||||||||||||||||||||||||||||||||||||||||
Gold sold – oz (000)(2) | 362 | 28 | 52 | 442 | 280 | — | 213 | 604 | — | 1,096 | |||||||||||||||||||||||||||||||||||||||||||
All-in sustaining cost per unit – $/oz(3) | 704 | 1,237 | 956 | 767 | 890 | — | 1,176 | 894 | — | 947 | |||||||||||||||||||||||||||||||||||||||||||
All-in cost per unit – $/oz(3) | 734 | 1,237 | 930 | 785 | 900 | — | 1,252 | 903 | — | 1,237 |
DRC | Mali | Joint | Ghana | Guinea | Tanzania | Africa other | Subsidiaries | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Kibali | Morila | Sadiola | Ventures | Iduapriem | Obuasi | Siguiri | Geita | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total cash costs | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost of sales per segmental information(5) | 338 | 36 | 54 | 428 | 288 | — | 315 | 571 | (1) | 1,173 | |||||||||||||||||||||||||||||||||||||||||||||||||
By-product revenue | (1) | — | — | (1) | (1) | — | — | (1) | — | (2) | |||||||||||||||||||||||||||||||||||||||||||||||||
Inventory change | 4 | (1) | — | 3 | (5) | — | 1 | (9) | 1 | (12) | |||||||||||||||||||||||||||||||||||||||||||||||||
Amortisation of intangible assets | — | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||
Amortisation of tangible assets | (130) | (3) | (4) | (137) | (58) | — | (38) | (133) | (1) | (230) | |||||||||||||||||||||||||||||||||||||||||||||||||
Rehabilitation and other non-cash costs | (1) | 1 | — | (1) | — | — | (5) | (8) | (2) | (14) | |||||||||||||||||||||||||||||||||||||||||||||||||
Retrenchment costs | — | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||
Total cash costs net of by-product revenue | 210 | 33 | 50 | 292 | 224 | — | 273 | 420 | (2) | 915 | |||||||||||||||||||||||||||||||||||||||||||||||||
Adjusted for non-controlling interests, non-gold producing companies and other(1) | — | — | — | — | — | — | (41) | — | — | (41) | |||||||||||||||||||||||||||||||||||||||||||||||||
Total cash costs net of by-product revenue adjusted for non-controlling interests and non-gold producing companies | 210 | 33 | 50 | 292 | 224 | — | 232 | 420 | (2) | 874 | |||||||||||||||||||||||||||||||||||||||||||||||||
Gold produced - oz (000) (2) | 366 | 27 | 51 | 445 | 275 | — | 213 | 604 | — | 1,091 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total cash costs per unit - $/oz(3) | 572 | 1,205 | 966 | 657 | 815 | — | 1,091 | 695 | — | 801 |
Australia | Total Australia | Argentina | Brazil | Americas other | Total Americas | ||||||||||||||||||||||||||||||||||||||||||||||||
Sunrise Dam | Tropicana | Australia other | Cerro Vanguardia | AngloGold Ashanti Mineração | Serra Grande | ||||||||||||||||||||||||||||||||||||||||||||||||
All-in sustaining costs | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost of sales per segmental information(5) | 318 | 297 | 17 | 632 | 274 | 417 | 130 | 1 | 822 | ||||||||||||||||||||||||||||||||||||||||||||
By-product revenue | — | (2) | — | (3) | (61) | (20) | — | (1) | (81) | ||||||||||||||||||||||||||||||||||||||||||||
Amortisation of tangible and intangible assets | (56) | (111) | (7) | (173) | (40) | (103) | (34) | — | (177) | ||||||||||||||||||||||||||||||||||||||||||||
Adjusted for decommissioning and inventory amortisation | 2 | — | — | 2 | (3) | (3) | — | 2 | (5) | ||||||||||||||||||||||||||||||||||||||||||||
Lease payment sustaining | 8 | 4 | 8 | 20 | — | 7 | — | — | 7 | ||||||||||||||||||||||||||||||||||||||||||||
Corporate administration and marketing related to current operations | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||
Inventory writedown to net realisable value and other stockpile adjustments | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||
Sustaining exploration and study costs | 4 | — | — | 4 | 1 | 8 | 5 | — | 14 | ||||||||||||||||||||||||||||||||||||||||||||
Total sustaining capital expenditure | 43 | 83 | — | 126 | 33 | 91 | 34 | — | 157 | ||||||||||||||||||||||||||||||||||||||||||||
Amortisation relating to inventory | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||
Realised other commodity contracts | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||
All-in sustaining costs | 319 | 271 | 18 | 609 | 204 | 397 | 136 | 2 | 737 | ||||||||||||||||||||||||||||||||||||||||||||
Adjusted for non-controlling interests and non -gold producing companies(1) | — | — | — | — | (15) | — | — | — | (15) | ||||||||||||||||||||||||||||||||||||||||||||
All-in sustaining costs adjusted for non-controlling interests and non-gold producing companies | 319 | 271 | 18 | 609 | 189 | 397 | 136 | 2 | 722 | ||||||||||||||||||||||||||||||||||||||||||||
All-in sustaining costs | 319 | 271 | 18 | 609 | 204 | 397 | 136 | 2 | 737 | ||||||||||||||||||||||||||||||||||||||||||||
Non-sustaining project capital expenditure | — | 23 | — | 23 | — | — | — | 38 | 38 | ||||||||||||||||||||||||||||||||||||||||||||
Lease payment non sustaining | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||
Technology improvements | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||
Non-sustaining exploration and study costs | 5 | 4 | 18 | 27 | 1 | 3 | 1 | 44 | 49 | ||||||||||||||||||||||||||||||||||||||||||||
Care and maintenance | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||
Corporate and social responsibility costs not related to current operations | — | — | — | — | — | 17 | 3 | — | 20 | ||||||||||||||||||||||||||||||||||||||||||||
Other provisions | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||
All-in costs | 324 | 298 | 36 | 659 | 205 | 418 | 140 | 83 | 844 | ||||||||||||||||||||||||||||||||||||||||||||
Adjusted for non-controlling interests and non -gold producing companies(1) | — | — | — | — | (15) | — | — | — | (15) | ||||||||||||||||||||||||||||||||||||||||||||
All-in costs adjusted for non-controlling interests and non-gold producing companies | 324 | 298 | 36 | 659 | 190 | 418 | 140 | 83 | 829 | ||||||||||||||||||||||||||||||||||||||||||||
Gold sold – oz (000)(2) | 256 | 358 | — | 614 | 219 | 358 | 122 | — | 700 | ||||||||||||||||||||||||||||||||||||||||||||
All-in sustaining cost per unit – $/oz(3) | 1,246 | 757 | — | 990 | 859 | 1,107 | 1,105 | — | 1,032 | ||||||||||||||||||||||||||||||||||||||||||||
All-in cost per unit – $/oz(3) | 1,266 | 830 | — | 1,072 | 863 | 1,164 | 1,141 | — | 1,183 |
Australia | Total Australia | Argentina | Brazil | Americas other | Total Americas | ||||||||||||||||||||||||||||||||||||||||||||||||
Sunrise Dam | Tropicana | Australia other | Cerro Vanguardia | AngloGold Ashanti Mineração | Serra Grande | ||||||||||||||||||||||||||||||||||||||||||||||||
Total cash costs | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost of sales per segmental information(5) | 318 | 297 | 17 | 632 | 274 | 417 | 131 | 1 | 822 | ||||||||||||||||||||||||||||||||||||||||||||
By-product revenue | — | (3) | — | (3) | (61) | (20) | — | (1) | (81) | ||||||||||||||||||||||||||||||||||||||||||||
Inventory change | (1) | (1) | — | (2) | 3 | (1) | — | — | 2 | ||||||||||||||||||||||||||||||||||||||||||||
Amortisation of intangible assets | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||
Amortisation of tangible assets | (56) | (111) | (7) | (173) | (40) | (103) | (34) | — | (177) | ||||||||||||||||||||||||||||||||||||||||||||
Rehabilitation and other non-cash costs | (3) | (1) | (1) | (5) | (11) | (12) | (10) | — | (33) | ||||||||||||||||||||||||||||||||||||||||||||
Retrenchment costs | — | — | — | (1) | (1) | (2) | — | (1) | (3) | ||||||||||||||||||||||||||||||||||||||||||||
Total cash costs net of by-product revenue | 258 | 181 | 9 | 448 | 164 | 279 | 87 | (2) | 530 | ||||||||||||||||||||||||||||||||||||||||||||
Adjusted for non-controlling interests, non-gold producing companies and other(1) | — | — | — | — | (12) | — | — | — | (12) | ||||||||||||||||||||||||||||||||||||||||||||
Total cash costs net of by-product revenue adjusted for non-controlling interests and non-gold producing companies | 258 | 181 | 9 | 448 | 152 | 279 | 87 | (2) | 518 | ||||||||||||||||||||||||||||||||||||||||||||
Gold produced – oz (000) (2) | 254 | 360 | — | 614 | 225 | 362 | 123 | — | 710 | ||||||||||||||||||||||||||||||||||||||||||||
Total cash costs per unit – $/oz(3) | 1,014 | 504 | — | 730 | 673 | 782 | 707 | — | 736 |
JOINT VENTURES | SUBSIDIARIES | |||||||
All-in sustaining costs | ||||||||
Cost of sales per segmental information(5) | 428 | 2,626 | ||||||
By-product revenue | (1) | (86) | ||||||
Amortisation of tangible and intangible assets | (137) | (583) | ||||||
Adjusted for decommissioning and inventory amortisation | 2 | 1 | ||||||
Lease payment sustaining | — | 51 | ||||||
Corporate administration and marketing related to current operations | — | 82 | ||||||
Inventory writedown to net realisable value and other stockpile adjustments | — | — | ||||||
Sustaining exploration and study costs | — | 31 | ||||||
Total sustaining capital expenditure | 46 | 390 | ||||||
Amortisation relating to inventory | — | — | ||||||
Realised other commodity contracts | — | — | ||||||
All-in sustaining costs | 338 | 2,512 | ||||||
Adjusted for non-controlling interests and non-gold producing companies(1) | — | (60) | ||||||
All-in sustaining costs adjusted for non-controlling interests and non-gold producing companies | 338 | 2,452 | ||||||
All-in sustaining costs | 338 | 2,512 | ||||||
Non-sustaining project capital expenditure | 5 | 313 | ||||||
Lease payment non sustaining | — | 1 | ||||||
Technology improvements | — | — | ||||||
Non-sustaining exploration and study costs | 4 | 85 | ||||||
Care and maintenance costs | — | 47 | ||||||
Corporate and social responsibility costs not related to current operations | — | 38 | ||||||
Other provisions | — | 2 | ||||||
All-in costs | 347 | 2,998 | ||||||
Adjusted for non-controlling interests and non-gold producing companies(1) | — | (62) | ||||||
All-in costs adjusted for non-controlling interests and non-gold producing companies | 347 | 2,936 | ||||||
Gold sold – oz (000)(2) | 442 | 2,410 | ||||||
All-in sustaining cost per unit – $/oz(3) | 767 | 1,017 | ||||||
All-in cost per unit – $/oz(3) | 785 | 1,218 |
JOINT VENTURES | SUBSIDIARIES | |||||||
Total cash costs | ||||||||
Cost of sales per segmental information(5) | 428 | 2,626 | ||||||
By-product revenue | (1) | (86) | ||||||
Inventory change | 3 | (5) | ||||||
Amortisation of intangible assets | — | — | ||||||
Amortisation of tangible assets | (137) | (583) | ||||||
Rehabilitation and other non-cash costs | (1) | (53) | ||||||
Retrenchment costs | — | (4) | ||||||
Total cash costs net of by-product revenue | 292 | 1,895 | ||||||
Adjusted for non-controlling interests, non-gold producing companies and other(1) | — | (53) | ||||||
Total cash costs net of by product revenue adjusted for non-controlling interests and non-gold producing companies | 292 | 1,841 | ||||||
Gold produced – oz (000)(2) | 445 | 2,415 | ||||||
Total cash costs (adjusted) per unit – $/oz(3) | 657 | 763 |
DRC | Mali | Joint | Ghana | Guinea | Tanzania | Africa other | Subsidiaries | |||||||||||||||||||||||||||||||||||||||||||||||||
Kibali | Morila | Sadiola | Ventures | Iduapriem | Obuasi | Siguiri | Geita | |||||||||||||||||||||||||||||||||||||||||||||||||
All-in sustaining costs | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost of sales per segmental information(5) | 373 | 42 | 65 | 480 | 233 | (6) | 286 | 612 | 2 | 1,127 | ||||||||||||||||||||||||||||||||||||||||||||||
By-product revenue | (1) | — | — | (1) | — | — | — | (2) | — | (2) | ||||||||||||||||||||||||||||||||||||||||||||||
Amortisation of tangible and intangible assets | (149) | (7) | (9) | (165) | (29) | — | (38) | (144) | (3) | (214) | ||||||||||||||||||||||||||||||||||||||||||||||
Adjusted for decommissioning and inventory amortisation | 1 | 3 | — | 4 | — | — | 2 | 2 | — | 4 | ||||||||||||||||||||||||||||||||||||||||||||||
Lease payment sustaining | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||
Corporate administration and marketing related to current operations | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||
Inventory writedown to net realisable value and other stockpile adjustments | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||
Sustaining exploration and study costs | — | — | — | — | 1 | — | 7 | 8 | — | 16 | ||||||||||||||||||||||||||||||||||||||||||||||
Total sustaining capital expenditure | 54 | 2 | — | 56 | 43 | — | 11 | 59 | — | 113 | ||||||||||||||||||||||||||||||||||||||||||||||
Amortisation relating to inventory | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||
Realised other commodity contracts | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||
All-in sustaining costs | 278 | 40 | 56 | 374 | 248 | (6) | 267 | 535 | — | 1,044 | ||||||||||||||||||||||||||||||||||||||||||||||
Adjusted for non-controlling interests and non -gold producing companies(1) | — | — | — | — | — | — | (40) | — | — | (40) | ||||||||||||||||||||||||||||||||||||||||||||||
All-in sustaining costs adjusted for non-controlling interests and non-gold producing companies | 278 | 40 | 56 | 374 | 248 | (6) | 227 | 535 | — | 1,004 | ||||||||||||||||||||||||||||||||||||||||||||||
All-in sustaining costs | 278 | 40 | 56 | 374 | 248 | (6) | 267 | 535 | — | 1,044 | ||||||||||||||||||||||||||||||||||||||||||||||
Non-sustaining project capital expenditure | 10 | — | 1 | 11 | — | 48 | 85 | — | — | 133 | ||||||||||||||||||||||||||||||||||||||||||||||
Lease payment non sustaining | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||
Technology improvements | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||
Non-sustaining exploration and study costs | 1 | — | — | 1 | — | 1 | 10 | — | — | 11 | ||||||||||||||||||||||||||||||||||||||||||||||
Care and maintenance costs | — | — | — | — | — | 39 | — | — | — | 39 | ||||||||||||||||||||||||||||||||||||||||||||||
Corporate and social responsibility costs not related to current operations | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||
Other provisions | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||
All-in costs | 289 | 40 | 57 | 386 | 248 | 82 | 362 | 535 | — | 1,227 | ||||||||||||||||||||||||||||||||||||||||||||||
Adjusted for non-controlling interests and non -gold producing companies(1) | — | — | — | — | — | — | (54) | — | — | (54) | ||||||||||||||||||||||||||||||||||||||||||||||
All-in costs adjusted for non-controlling interests and non-gold producing companies | 289 | 40 | 57 | 386 | 248 | 82 | 308 | 535 | — | 1,173 | ||||||||||||||||||||||||||||||||||||||||||||||
Gold sold - oz (000)(2) | 370 | 30 | 58 | 459 | 254 | — | 244 | 568 | — | 1,066 | ||||||||||||||||||||||||||||||||||||||||||||||
All-in sustaining cost per unit – $/oz(3) | 752 | 1,321 | 990 | 820 | 977 | — | 930 | 940 | — | 941 | ||||||||||||||||||||||||||||||||||||||||||||||
All-in cost per unit – $/oz(3) | 782 | 1,321 | 1,005 | 846 | 977 | — | 1,261 | 940 | — | 1,099 |
DRC | Mali | Joint | Ghana | Guinea | Tanzania | Africa other | Subsidiaries | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Kibali | Morila | Sadiola | Ventures | Iduapriem | Obuasi | Siguiri | Geita | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total cash costs | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost of sales per segmental information(5) | 373 | 42 | 65 | 480 | 233 | (6) | 286 | 612 | 2 | 1,127 | |||||||||||||||||||||||||||||||||||||||||||||||||
By-product revenue | (1) | — | — | (1) | — | — | — | (2) | — | (2) | |||||||||||||||||||||||||||||||||||||||||||||||||
Inventory change | (3) | — | 1 | (2) | — | — | (3) | (2) | — | (5) | |||||||||||||||||||||||||||||||||||||||||||||||||
Amortisation of intangible assets | — | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||
Amortisation of tangible assets | (149) | (7) | (9) | (165) | (29) | — | (38) | (144) | (3) | (214) | |||||||||||||||||||||||||||||||||||||||||||||||||
Rehabilitation and other non-cash costs | (1) | (1) | — | (2) | — | 6 | (5) | (10) | — | (8) | |||||||||||||||||||||||||||||||||||||||||||||||||
Retrenchment costs | — | — | (2) | (2) | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||
Total cash costs net of by-product revenue | 219 | 34 | 55 | 308 | 204 | — | 240 | 454 | — | 898 | |||||||||||||||||||||||||||||||||||||||||||||||||
Adjusted for non-controlling interests, non-gold producing companies and other(1) | — | — | — | — | — | — | (36) | — | — | (36) | |||||||||||||||||||||||||||||||||||||||||||||||||
Total cash costs net of by-product revenue adjusted for non-controlling interests and non-gold producing companies | 219 | 34 | 55 | 308 | 204 | — | 204 | 454 | — | 862 | |||||||||||||||||||||||||||||||||||||||||||||||||
Gold produced - oz (000) (2) | 363 | 30 | 59 | 452 | 254 | — | 242 | 564 | — | 1,060 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total cash costs per unit - $/oz(3) | 600 | 1,145 | 938 | 680 | 804 | — | 844 | 804 | — | 813 |
Australia | TOTAL AUSTRALIA | Argentina | Brazil | Americas other | Total Americas | ||||||||||||||||||||||||||||||||||||||||||||||||
Sunrise Dam | Tropicana | Australia other | Cerro Vanguardia | AngloGold Ashanti Mineração | Serra Grande | ||||||||||||||||||||||||||||||||||||||||||||||||
All-in sustaining costs | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost of sales per segmental information(5) | 310 | 293 | 18 | 622 | 325 | 382 | 129 | 2 | 838 | ||||||||||||||||||||||||||||||||||||||||||||
By-product revenue | — | (2) | — | (2) | (111) | (17) | — | — | (128) | ||||||||||||||||||||||||||||||||||||||||||||
Amortisation of tangible and intangible assets | (51) | (92) | (6) | (149) | (50) | (99) | (42) | — | (192) | ||||||||||||||||||||||||||||||||||||||||||||
Adjusted for decommissioning and inventory amortisation | 1 | 1 | — | 2 | (3) | (6) | (2) | (1) | (11) | ||||||||||||||||||||||||||||||||||||||||||||
Lease payment sustaining | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||
Corporate administration and marketing related to current operations | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||
Inventory writedown to net realisable value and other stockpile adjustments | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||
Sustaining exploration and study costs | 7 | 5 | — | 12 | 2 | 4 | 4 | — | 10 | ||||||||||||||||||||||||||||||||||||||||||||
Total sustaining capital expenditure | 79 | 74 | 2 | 154 | 36 | 96 | 35 | 9 | 176 | ||||||||||||||||||||||||||||||||||||||||||||
Amortisation relating to inventory | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||
Realised other commodity contracts | — | — | — | — | — | — | — | (5) | (5) | ||||||||||||||||||||||||||||||||||||||||||||
All-in sustaining costs | 346 | 279 | 15 | 639 | 199 | 360 | 124 | 5 | 688 | ||||||||||||||||||||||||||||||||||||||||||||
Adjusted for non-controlling interests and non -gold producing companies(1) | — | — | — | — | (15) | — | — | (9) | (24) | ||||||||||||||||||||||||||||||||||||||||||||
All-in sustaining costs adjusted for non-controlling interests and non-gold producing companies | 346 | 279 | 15 | 639 | 184 | 360 | 124 | (4) | 664 | ||||||||||||||||||||||||||||||||||||||||||||
All-in sustaining costs | 346 | 279 | 15 | 639 | 199 | 360 | 124 | 5 | 688 | ||||||||||||||||||||||||||||||||||||||||||||
Non-sustaining project capital expenditure | — | 2 | — | 2 | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||
Lease payment non sustaining | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||
Technology improvements | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||
Non-sustaining exploration and study costs | — | — | 18 | 18 | — | 2 | — | 34 | 36 | ||||||||||||||||||||||||||||||||||||||||||||
Care and maintenance | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||
Corporate and social responsibility costs not related to current operations | — | — | — | — | 2 | 12 | 3 | (1) | 16 | ||||||||||||||||||||||||||||||||||||||||||||
Other provisions | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||
All-in costs | 346 | 281 | 32 | 659 | 201 | 374 | 127 | 38 | 740 | ||||||||||||||||||||||||||||||||||||||||||||
Adjusted for non-controlling interests and non -gold producing companies(1) | — | — | — | — | (15) | — | — | — | (15) | ||||||||||||||||||||||||||||||||||||||||||||
All-in costs adjusted for non-controlling interests and non-gold producing companies | 346 | 281 | 33 | 659 | 186 | 374 | 127 | 38 | 725 | ||||||||||||||||||||||||||||||||||||||||||||
Gold sold - oz (000)(2) | 283 | 332 | — | 615 | 282 | 370 | 131 | — | 783 | ||||||||||||||||||||||||||||||||||||||||||||
All-in sustaining cost per unit - $/oz(3) | 1,223 | 843 | — | 1,038 | 652 | 973 | 945 | — | 855 | ||||||||||||||||||||||||||||||||||||||||||||
All-in cost per unit - $/oz(3) | 1,223 | 848 | — | 1,070 | 656 | 1,015 | 965 | — | 932 |
Australia | TOTAL AUSTRALIA | Argentina | Brazil | Americas other | Total America | ||||||||||||||||||||||||||||||||||||||||||||||||
Sunrise Dam | Tropicana | Australia other | Cerro Vanguardia | AngloGold Ashanti Mineração | Serra Grande | ||||||||||||||||||||||||||||||||||||||||||||||||
Total cash costs | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost of sales per segmental information(5) | 310 | 293 | 19 | 622 | 325 | 382 | 129 | 2 | 838 | ||||||||||||||||||||||||||||||||||||||||||||
By-product revenue | — | (2) | — | (2) | (111) | (17) | — | — | (128) | ||||||||||||||||||||||||||||||||||||||||||||
Inventory change | 7 | 5 | — | 12 | (7) | (6) | (3) | — | (16) | ||||||||||||||||||||||||||||||||||||||||||||
Amortisation of intangible assets | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||
Amortisation of tangible assets | (51) | (92) | (6) | (149) | (50) | (99) | (42) | (1) | (192) | ||||||||||||||||||||||||||||||||||||||||||||
Rehabilitation and other non-cash costs | — | (5) | (1) | (6) | (10) | 4 | 2 | — | (4) | ||||||||||||||||||||||||||||||||||||||||||||
Retrenchment costs | — | — | — | — | (2) | (1) | — | — | (3) | ||||||||||||||||||||||||||||||||||||||||||||
Total cash costs net of by-product revenue | 266 | 199 | 12 | 477 | 145 | 263 | 86 | 1 | 495 | ||||||||||||||||||||||||||||||||||||||||||||
Adjusted for non-controlling interests, non-gold producing companies and other(1) | — | — | — | — | (11) | — | — | — | (11) | ||||||||||||||||||||||||||||||||||||||||||||
Total cash costs net of by-product revenue adjusted for non-controlling interests and non-gold producing companies | 266 | 199 | 12 | 477 | 134 | 263 | 86 | 1 | 484 | ||||||||||||||||||||||||||||||||||||||||||||
Gold produced - oz (000) (2) | 289 | 336 | — | 625 | 282 | 364 | 130 | — | 776 | ||||||||||||||||||||||||||||||||||||||||||||
Total cash costs per unit - $/oz(3) | 920 | 594 | — | 762 | 476 | 723 | 660 | — | 624 |
JOINT VENTURES | SUBSIDIARIES | |||||||
All-in sustaining costs | ||||||||
Cost of sales per segmental information(5) | 480 | 2,584 | ||||||
By-product revenue | (1) | (133) | ||||||
Amortisation of tangible and intangible assets | (165) | (558) | ||||||
Adjusted for decommissioning and inventory amortisation | 4 | (5) | ||||||
Lease payment sustaining | — | — | ||||||
Corporate administration and marketing related to current operations | — | 76 | ||||||
Inventory writedown to net realisable value and other stockpile adjustments | — | — | ||||||
Sustaining exploration and study costs | — | 38 | ||||||
Total sustaining capital expenditure | 56 | 445 | ||||||
Amortisation relating to inventory | — | — | ||||||
Realised other commodity contracts | — | (5) | ||||||
All-in sustaining costs | 374 | 2,443 | ||||||
Adjusted for non-controlling interests and non-gold producing companies(1) | — | (64) | ||||||
All-in sustaining costs adjusted for non-controlling interests and non-gold producing companies | 374 | 2,379 | ||||||
All-in sustaining costs | 374 | 2,443 | ||||||
Non-sustaining project capital expenditure | 11 | 133 | ||||||
Lease payment non sustaining | — | — | ||||||
Technology improvements | — | — | ||||||
Non-sustaining exploration and study costs | 1 | 65 | ||||||
Care and maintenance costs | — | 39 | ||||||
Care and maintenance costs, Corporate and social responsibility costs not related to current operations | — | 22 | ||||||
Other provisions | — | (1) | ||||||
All-in costs | 386 | 2,702 | ||||||
Adjusted for non-controlling interests and non-gold producing companies(1) | — | (69) | ||||||
All-in costs adjusted for non-controlling interests and non-gold producing companies | 386 | 2,634 | ||||||
Gold sold - oz (000)(2) | 459 | 2,463 | ||||||
All-in sustaining cost per unit - $/oz(3) | 820 | 970 | ||||||
All-in cost per unit - $/oz(3) | 846 | 1,075 |
JOINT VENTURES | SUBSIDIARIES | |||||||
Total cash costs | ||||||||
Cost of sales per segmental information(5) | 480 | 2,584 | ||||||
By-product revenue | (1) | (133) | ||||||
Inventory change | (2) | (9) | ||||||
Amortisation of intangible assets | — | (5) | ||||||
Amortisation of tangible assets | (165) | (553) | ||||||
Rehabilitation and other non-cash costs | (2) | (17) | ||||||
Retrenchment costs | (2) | (4) | ||||||
Total cash costs net of by-product revenue | 308 | 1,863 | ||||||
Adjusted for non-controlling interests, non-gold producing companies and other(1) | — | (47) | ||||||
Total cash costs net of by-product revenue adjusted for non-controlling interests and non-gold producing companies | 308 | 1,816 | ||||||
Gold produced - oz (000)(2) | 452 | 2,460 | ||||||
Total cash costs (adjusted) per unit - $/oz(3) | 680 | 743 |
Mponeng | West Wits Operations | Surface Operations | South Africa other | Total South Africa (Operations) | |||||||||||||||||||||||||||||||||||||||||||||||||
All-in sustaining costs | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost of sales per segmental information(3) | 158 | 158 | 124 | 4 | 287 | ||||||||||||||||||||||||||||||||||||||||||||||||
By-product revenue | (1) | — | — | — | (1) | ||||||||||||||||||||||||||||||||||||||||||||||||
Amortisation of tangible and intangible assets | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||
Adjusted for decommissioning and inventory amortisation | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||
Corporate administration and marketing related to current operations | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||
Inventory writedown to net realisable value and other stockpile adjustments | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||
Sustaining exploration and study costs | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||
Total sustaining capital expenditure | 27 | 27 | 7 | 1 | 35 | ||||||||||||||||||||||||||||||||||||||||||||||||
Realised other commodity contracts | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||
All-in sustaining costs | 184 | 185 | 131 | 5 | 321 | ||||||||||||||||||||||||||||||||||||||||||||||||
All-in sustaining costs | 184 | 185 | 131 | 5 | 321 | ||||||||||||||||||||||||||||||||||||||||||||||||
Non-sustaining project capital expenditure | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||
Lease Payment non-sustaining | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||
Technology improvements | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||
Non-sustaining exploration and study costs | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||
Care and maintenance | — | — | — | 17 | 17 | ||||||||||||||||||||||||||||||||||||||||||||||||
Corporate and social responsibility costs not related to current operations | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||
Other provisions | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||
All-in costs | 184 | 185 | 131 | 22 | 338 | ||||||||||||||||||||||||||||||||||||||||||||||||
Gold sold - oz (000)(1) | 135 | 135 | 109 | — | 247 | ||||||||||||||||||||||||||||||||||||||||||||||||
All-in sustaining cost (excluding stockpile write-offs) per unit - $/oz(2) | 1,365 | 1,365 | 1,201 | — | 1,296 | ||||||||||||||||||||||||||||||||||||||||||||||||
All-in cost per unit (excluding stockpile write-offs) - $/oz(2) | 1,366 | 1,366 | 1,201 | — | 1,367 |
Mponeng | West Wits Operations | Surface Operations | South Africa other | Total South Africa (Operations) | |||||||||||||||||||||||||||||||||||||||||||
Total cash costs | |||||||||||||||||||||||||||||||||||||||||||||||
Cost of sales per segmental information(3) | 158 | 158 | 124 | 4 | 287 | ||||||||||||||||||||||||||||||||||||||||||
By-product revenue | (1) | (1) | — | — | (1) | ||||||||||||||||||||||||||||||||||||||||||
Inventory change | (1) | (1) | (2) | (4) | (7) | ||||||||||||||||||||||||||||||||||||||||||
Amortisation of intangible assets | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||
Amortisation of tangible and intangible assets | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||
Rehabilitation and other non-cash costs | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||
Retrenchment costs | (1) | (1) | — | — | (2) | ||||||||||||||||||||||||||||||||||||||||||
Total cash costs net of by-product revenue | 155 | 155 | 122 | — | 277 | ||||||||||||||||||||||||||||||||||||||||||
Gold produced - oz (000)(1) | 134 | 134 | 107 | — | 241 | ||||||||||||||||||||||||||||||||||||||||||
Total cash costs per unit - $/oz(2) | 1,164 | 1,164 | 1,131 | — | 1,149 |
Mponeng | West Wits Operations | Surface Operations | South Africa other | Total South Africa (Operations) | |||||||||||||||||||||||||||||||
All-in sustaining costs | |||||||||||||||||||||||||||||||||||
Cost of sales per segmental information(5) | 158 | 158 | 124 | 4 | 287 | ||||||||||||||||||||||||||||||
By-product revenue | (1) | — | — | — | (1) | ||||||||||||||||||||||||||||||
Cost of sales | 157 | 158 | 124 | 4 | 286 | ||||||||||||||||||||||||||||||
Realised other commodity contracts | — | — | — | — | — | ||||||||||||||||||||||||||||||
Amortisation of tangible, intangible and right of use assets | — | — | — | — | — | ||||||||||||||||||||||||||||||
Adjusted for decommissioning and inventory amortisation | — | — | — | — | — | ||||||||||||||||||||||||||||||
Corporate administration and marketing expenditure | — | — | — | — | — | ||||||||||||||||||||||||||||||
Lease payment sustaining | — | — | — | — | — | ||||||||||||||||||||||||||||||
Sustaining exploration and study costs | — | — | — | — | — | ||||||||||||||||||||||||||||||
Total sustaining capital expenditure | 27 | 27 | 7 | 1 | 35 | ||||||||||||||||||||||||||||||
All-in Sustaining costs | 184 | 185 | 131 | 5 | 321 | ||||||||||||||||||||||||||||||
Adjusted for non-controlling interests and non gold producing companies (1) | — | — | — | — | — | ||||||||||||||||||||||||||||||
All-in Sustaining costs adjusted for non-controlling interests and non-gold producing companies | 184 | 185 | 131 | 5 | 321 | ||||||||||||||||||||||||||||||
All-in Sustaining costs | 184 | 185 | 131 | 5 | 321 | ||||||||||||||||||||||||||||||
Non-Sustaining project capital expenditure | — | — | — | — | — | ||||||||||||||||||||||||||||||
Non-sustaining lease payments | — | — | — | — | — | ||||||||||||||||||||||||||||||
Non-sustaining exploration and study costs | — | — | — | — | — | ||||||||||||||||||||||||||||||
Care and maintenance | — | — | — | 17 | 17 | ||||||||||||||||||||||||||||||
Closure and social responsibility costs not related to current operations | — | — | — | — | — | ||||||||||||||||||||||||||||||
Other provisions | — | — | — | — | — | ||||||||||||||||||||||||||||||
All-in costs | 184 | 185 | 131 | 22 | 338 | ||||||||||||||||||||||||||||||
Adjusted for non-controlling interests and non gold producing companies (1) | — | — | — | — | — | ||||||||||||||||||||||||||||||
All-in costs adjusted for non-controlling interests and non-gold producing companies | 184 | 185 | 131 | 22 | 338 | ||||||||||||||||||||||||||||||
Gold sold - oz (000) | 135 | 135 | 109 | — | 247 | ||||||||||||||||||||||||||||||
All-in sustaining cost per unit $/oz | 1,365 | 1,365 | 1,201 | — | 1,296 | ||||||||||||||||||||||||||||||
All-in cost per unit $/oz | 1,366 | 1,366 | 1,201 | — | 1,367 |
Mponeng | West Wits Operations | Surface Operations | South Africa other | Total South Africa (Operations) | |||||||||||||||||||||||||||||||
Total cash costs | |||||||||||||||||||||||||||||||||||
Cost of sales per segmental information(5) | 158 | 158 | 124 | 4 | 287 | ||||||||||||||||||||||||||||||
By-product revenue | (1) | (1) | — | — | (1) | ||||||||||||||||||||||||||||||
Inventory change | (1) | (1) | (2) | (4) | (7) | ||||||||||||||||||||||||||||||
Amortisation of tangible assets | — | — | — | — | — | ||||||||||||||||||||||||||||||
Amortisation of right of use assets | — | — | — | — | — | ||||||||||||||||||||||||||||||
Amortisation of intangible assets | — | — | — | — | — | ||||||||||||||||||||||||||||||
Rehabilitation and other non-cash costs | — | — | — | — | — | ||||||||||||||||||||||||||||||
Retrenchment costs | (1) | (1) | — | — | (2) | ||||||||||||||||||||||||||||||
Total cash costs net of by-product revenue | 155 | 155 | 122 | — | 277 | ||||||||||||||||||||||||||||||
Adjusted for non-controlling interests, non-gold producing companies | — | — | — | — | — | ||||||||||||||||||||||||||||||
Total cash costs net of by-product revenue adjusted for non-controlling interests and non-gold producing companies | 155 | 155 | 122 | — | 277 | ||||||||||||||||||||||||||||||
Gold produced – oz (000)(2) | 134 | 134 | 107 | — | 241 | ||||||||||||||||||||||||||||||
Total cash costs per unit – $/oz(3) | 1,164 | 1,164 | 1,131 | — | 1,149 |
AFRICA | AFRICA | ||||||||||||||||||||||||||||
Kibali | Other | Joint Ventures | Iduapriem | Obuasi Restated | Siguiri | Geita | Africa Other | Subsidiaries Restated | |||||||||||||||||||||
All-in sustaining costs | |||||||||||||||||||||||||||||
Cost of sales per segmental information(5) | 340 | — | 340 | 280 | 164 | 377 | 542 | (1) | 1,362 | ||||||||||||||||||||
By-product revenue | (1) | — | (1) | (1) | — | — | (2) | — | (3) | ||||||||||||||||||||
Cost of sales | 339 | — | 339 | 279 | 164 | 377 | 540 | (1) | 1,359 | ||||||||||||||||||||
Realised other commodity contracts | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||
Amortisation of tangible, intangible and right of use assets | (104) | — | (104) | (74) | (11) | (41) | (124) | — | (250) | ||||||||||||||||||||
Adjusted for decommissioning and inventory amortisation | 1 | — | 1 | 1 | — | — | 4 | — | 5 | ||||||||||||||||||||
Corporate administration and marketing expenditure | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||
Lease payment sustaining | 9 | — | 9 | — | — | — | 17 | — | 17 | ||||||||||||||||||||
Sustaining exploration and study costs | — | — | — | 3 | — | 2 | 5 | — | 10 | ||||||||||||||||||||
Total sustaining capital expenditure | 52 | — | 52 | 60 | 7 | 15 | 80 | 1 | 163 | ||||||||||||||||||||
All-in sustaining costs | 296 | — | 297 | 269 | 161 | 353 | 522 | — | 1,304 | ||||||||||||||||||||
Adjusted for non-controlling interests and non -gold producing companies(1) | — | — | — | — | — | (53) | — | — | (53) | ||||||||||||||||||||
All-in sustaining costs adjusted for non-controlling interests and non-gold producing companies | 296 | — | 297 | 269 | 161 | 300 | 522 | — | 1,251 | ||||||||||||||||||||
All-in sustaining costs | 296 | — | 297 | 269 | 161 | 353 | 522 | — | 1,304 | ||||||||||||||||||||
Non-sustaining project capital expenditure | — | — | — | — | 199 | 15 | 7 | — | 220 | ||||||||||||||||||||
Non-sustaining lease payments | — | — | — | — | — | — | 2 | — | 2 | ||||||||||||||||||||
Non-sustaining exploration and study costs | — | — | — | 2 | 2 | 5 | 2 | — | 11 | ||||||||||||||||||||
Care and maintenance | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||
Closure and social responsibility costs not related to current operations | 2 | 3 | 4 | — | 10 | — | — | — | 10 | ||||||||||||||||||||
Other provisions | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||
All-in costs | 298 | 3 | 301 | 271 | 371 | 373 | 533 | — | 1,546 | ||||||||||||||||||||
Adjusted for non-controlling interests and non-gold producing companies(1) | — | — | — | — | — | (56) | — | — | (56) | ||||||||||||||||||||
All-in costs adjusted for non-controlling interests and non-gold producing companies | 298 | 3 | 301 | 271 | 371 | 317 | 533 | — | 1,490 | ||||||||||||||||||||
Gold sold – oz (000)(2) | 365 | — | 365 | 274 | 120 | 215 | 639 | — | 1,249 | ||||||||||||||||||||
All-in sustaining cost per unit – $/oz(3) | 809 | — | 810 | 985 | 1,332 | 1,397 | 814 | — | 1,002 | ||||||||||||||||||||
All-in cost per unit – $/oz(3) | 817 | — | 824 | 992 | 3,078 | 1,476 | 831 | — | 1,193 |
Mponeng | West Wits Operations | Surface Operations | South Africa other | Total South Africa (Operations) | ||||||||||||||||||||||||||||||||||||||||
All-in sustaining costs | ||||||||||||||||||||||||||||||||||||||||||||
Cost of sales per segmental information(3) | 287 | 287 | 189 | 3 | 479 | |||||||||||||||||||||||||||||||||||||||
By-product revenue | — | — | — | — | (1) | |||||||||||||||||||||||||||||||||||||||
Amortisation of tangible and intangible assets | (47) | (47) | (13) | (1) | (61) | |||||||||||||||||||||||||||||||||||||||
Adjusted for decommissioning and inventory amortisation | — | — | — | — | 1 | |||||||||||||||||||||||||||||||||||||||
Inventory writedown to net realisable value and other stockpile adjustments | — | — | (3) | (3) | (6) | |||||||||||||||||||||||||||||||||||||||
Total sustaining capital expenditure | 47 | 47 | 7 | 3 | 57 | |||||||||||||||||||||||||||||||||||||||
Realised other commodity contracts | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
All-in sustaining costs | 287 | 287 | 180 | 2 | 469 | |||||||||||||||||||||||||||||||||||||||
All-in sustaining costs | 287 | 289 | 180 | 2 | 469 | |||||||||||||||||||||||||||||||||||||||
Non-sustaining project capital expenditure | 2 | — | — | — | 2 | |||||||||||||||||||||||||||||||||||||||
Technology improvements | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
Care and maintenance | — | — | — | 42 | 42 | |||||||||||||||||||||||||||||||||||||||
All-in costs | 289 | 289 | 180 | 44 | 513 | |||||||||||||||||||||||||||||||||||||||
Gold sold - oz (000)(1) | 242 | 242 | 172 | — | 414 | |||||||||||||||||||||||||||||||||||||||
All-in sustaining cost (excluding stockpile write-offs) per unit - $/oz(2) | 1,186 | 1,187 | 1,043 | — | 1,132 | |||||||||||||||||||||||||||||||||||||||
All-in cost per unit (excluding stockpile write-offs) - $/oz(2) | 1,197 | 1,198 | 1,043 | — | 1,240 |
AFRICA | AFRICA | ||||||||||||||||||||||||||||
Kibali | Other | Joint Ventures | Iduapriem | Obuasi Restated | Siguiri | Geita | Africa other | Subsidiaries Restated | |||||||||||||||||||||
Total cash costs | |||||||||||||||||||||||||||||
Cost of sales per segmental information(5) | 340 | — | 340 | 280 | 164 | 377 | 542 | (1) | 1,362 | ||||||||||||||||||||
By-product revenue | (1) | — | (1) | (1) | — | — | (2) | — | (3) | ||||||||||||||||||||
Inventory change | (1) | — | (1) | 1 | 16 | (1) | (12) | — | 3 | ||||||||||||||||||||
Amortisation of tangible assets | (101) | — | (101) | (74) | (11) | (40) | (108) | — | (232) | ||||||||||||||||||||
Amortisation of right of use assets | (3) | — | (3) | — | — | (1) | (16) | — | (17) | ||||||||||||||||||||
Amortisation of intangible assets | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||
Rehabilitation and other non-cash costs | (4) | — | (4) | (6) | (2) | (9) | (5) | — | (22) | ||||||||||||||||||||
Retrenchment costs | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||
Total cash costs net of by-product revenue | 230 | — | 230 | 200 | 166 | 326 | 399 | (1) | 1,092 | ||||||||||||||||||||
Adjusted for non-controlling interests non-gold producing companies and other(1) | — | — | — | — | — | (49) | — | — | (49) | ||||||||||||||||||||
Total cash costs adjusted for non-controlling interests and non-gold producing companies and other | 230 | — | 230 | 200 | 166 | 277 | 399 | (1) | 1,043 | ||||||||||||||||||||
Gold produced - oz (000)(2) | 364 | — | 364 | 275 | 127 | 215 | 623 | — | 1,239 | ||||||||||||||||||||
Total cash costs per unit - $/oz(3) | 629 | 0 | 629 | 731 | 1307 | 1293 | 641 | 0 | 841 |
AUSTRALIA | AMERICAS | PROJECTS (6) Restated | ||||||||||||||||||||||||||||||
Sunrise Dam | Tropicana | Australia other | Total Australia | Cerro Vanguardia | AngloGold Ashanti Mineração | Serra Grande | Americas other Restated | Total Americas | ||||||||||||||||||||||||
All-in sustaining costs | ||||||||||||||||||||||||||||||||
Cost of sales per segmental information(5) | 342 | 338 | 25 | 705 | 269 | 391 | 102 | 2 | 764 | — | ||||||||||||||||||||||
By-product revenue | (1) | (2) | — | (3) | (82) | (17) | — | — | (99) | — | ||||||||||||||||||||||
Cost of sales | 341 | 336 | 25 | 702 | 187 | 374 | 102 | 2 | 665 | — | ||||||||||||||||||||||
Realised other commodity contracts | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||
Amortisation of tangible, intangible and right of use assets | (64) | (94) | (2) | (160) | (26) | (109) | (27) | (1) | (163) | — | ||||||||||||||||||||||
Adjusted for decommissioning and inventory amortisation | 2 | 1 | — | 3 | (7) | 3 | — | — | (4) | — | ||||||||||||||||||||||
Corporate administration and marketing expenditure | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||
Lease payment sustaining | 11 | 10 | 1 | 22 | — | 8 | 2 | — | 10 | — | ||||||||||||||||||||||
Sustaining exploration and study costs | — | 1 | — | 1 | 2 | 2 | — | — | 4 | — | ||||||||||||||||||||||
Total sustaining capital expenditure | 50 | 64 | — | 114 | 31 | 103 | 33 | — | 167 | — | ||||||||||||||||||||||
All-in sustaining costs | 340 | 318 | 24 | 682 | 187 | 381 | 110 | 1 | 679 | — | ||||||||||||||||||||||
Adjusted for non-controlling interests and non -gold producing companies(1) | — | — | — | — | (14) | — | — | — | (14) | — | ||||||||||||||||||||||
All-in sustaining costs adjusted for non-controlling interests and non-gold producing companies | 340 | 318 | 24 | 682 | 173 | 381 | 110 | 1 | 665 | — | ||||||||||||||||||||||
All-in sustaining costs | 340 | 318 | 24 | 682 | 187 | 381 | 110 | 1 | 679 | — | ||||||||||||||||||||||
Non-sustaining project capital expenditure | 3 | 25 | — | 28 | — | — | — | — | — | 49 | ||||||||||||||||||||||
Non-sustaining lease payments | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||
Non-sustaining exploration and study costs | 22 | 5 | 17 | 44 | 1 | 6 | 3 | — | 10 | 47 | ||||||||||||||||||||||
Care and maintenance | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||
Closure and social responsibility costs not related to current operations | — | — | — | — | — | 8 | 2 | — | 10 | — | ||||||||||||||||||||||
Other provisions | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||
All-in costs | 365 | 348 | 41 | 754 | 188 | 395 | 115 | 1 | 699 | 96 | ||||||||||||||||||||||
Adjusted for non-controlling interests and non -gold producing companies(1) | — | — | — | — | (14) | — | — | — | (14) | — | ||||||||||||||||||||||
All-in costs adjusted for non-controlling interests and non-gold producing companies | 365 | 348 | 41 | 754 | 174 | 395 | 115 | 1 | 685 | 96 | ||||||||||||||||||||||
Gold sold – oz (000)(2) | 258 | 299 | — | 557 | 186 | 364 | 114 | — | 664 | — | ||||||||||||||||||||||
All-in sustaining cost per unit – $/oz(3) | 1,320 | 1,061 | — | 1,225 | 931 | 1,050 | 953 | — | 1,003 | — | ||||||||||||||||||||||
All-in cost per unit – $/oz(3) | 1,417 | 1,164 | — | 1,356 | 934 | 1,091 | 997 | — | 1,032 | — |
AUSTRALIA | AMERICAS | ||||||||||||||||||||||||||||||||||
Sunrise Dam | Tropicana | Australia other | Total Australia | Cerro Vanguardia | AngloGold Ashanti Mineração | Serra Grande | Americas other | Total Americas | |||||||||||||||||||||||||||
Total cash costs | |||||||||||||||||||||||||||||||||||
Cost of sales per segmental information(5) | 342 | 338 | 25 | 705 | 269 | 391 | 102 | 2 | 764 | ||||||||||||||||||||||||||
By-product revenue | (1) | (2) | — | (3) | (82) | (17) | — | — | (99) | ||||||||||||||||||||||||||
Inventory change | (1) | (1) | — | (2) | (16) | 1 | — | — | (16) | ||||||||||||||||||||||||||
Amortisation of tangible assets | (54) | (86) | — | (141) | (26) | (100) | (25) | — | (151) | ||||||||||||||||||||||||||
Amortisation of right of use assets | (10) | (8) | (1) | (18) | — | (8) | (2) | (1) | (11) | ||||||||||||||||||||||||||
Amortisation of intangible assets | — | — | (1) | (1) | — | (1) | — | — | (1) | ||||||||||||||||||||||||||
Rehabilitation and other non-cash costs | (2) | (1) | (1) | (4) | (13) | 4 | 3 | (1) | (6) | ||||||||||||||||||||||||||
Retrenchment costs | — | — | — | — | — | (1) | — | — | (2) | ||||||||||||||||||||||||||
Total cash costs net of by-product revenue | 274 | 240 | 22 | 536 | 132 | 269 | 77 | — | 478 | ||||||||||||||||||||||||||
Adjusted for non-controlling interests, non-gold producing companies and other(1) | — | — | — | — | (10) | — | — | — | (10) | ||||||||||||||||||||||||||
Total cash costs net of by-product revenue adjusted for non-controlling interests and non-gold producing companies | 274 | 240 | 22 | 536 | 122 | 269 | 77 | — | 468 | ||||||||||||||||||||||||||
Gold produced – oz (000)(2) | 256 | 298 | — | 554 | 173 | 362 | 114 | — | 649 | ||||||||||||||||||||||||||
Total cash costs per unit – $/oz(3) | 1,069 | 807 | — | 968 | 699 | 747 | 665 | — | 721 |
JOINT VENTURES | SUBSIDIARIES EXCLUDING DISCONTINUED OPERATIONS RESTATED | |||||||
All-in sustaining costs | ||||||||
Cost of sales per segmental information(5) | 340 | 2,829 | ||||||
By-product revenue | (1) | (105) | ||||||
Cost of sales | 339 | 2,724 | ||||||
Realised other commodity contracts | — | 5 | ||||||
Amortisation of tangible, intangible and right of use assets | (104) | (575) | ||||||
Adjusted for decommissioning and inventory amortisation | 1 | 4 | ||||||
Corporate administration and marketing expenditure | — | 67 | ||||||
Lease payment sustaining | 9 | 52 | ||||||
Sustaining exploration and study costs | — | 15 | ||||||
Total sustaining capital expenditure | 52 | 445 | ||||||
All-in sustaining costs | 297 | 2,740 | ||||||
Adjusted for non-controlling interests and non-gold producing companies(1) | — | (67) | ||||||
All-in sustaining costs adjusted for non-controlling interests and non-gold producing companies | 297 | 2,672 | ||||||
All-in sustaining costs | 297 | 2,740 | ||||||
Non-sustaining project capital expenditure | — | 298 | ||||||
Non-sustaining lease payments | — | 2 | ||||||
Non-sustaining exploration and study costs | — | 112 | ||||||
Care and maintenance | — | — | ||||||
Closure and social responsibility costs not related to current operations | 4 | 29 | ||||||
Other provisions | — | — | ||||||
All-in costs | 301 | 3,179 | ||||||
Adjusted for non-controlling interests and non-gold producing companies(1) | — | (70) | ||||||
All-in costs adjusted for non-controlling interests and non-gold producing companies | 301 | 3,109 | ||||||
Gold sold – oz (000)(2) | 365 | 2,470 | ||||||
All-in sustaining cost per unit – $/oz(3) | 810 | 1,082 | ||||||
All-in cost per unit – $/oz(3) | 824 | 1,259 |
Mponeng | West Wits Operations | Surface Operations | South Africa other | Total South Africa (Operations) | JOINT VENTURES | SUBSIDIARIES EXCLUDING DISCONTINUED OPERATIONS RESTATED | |||||||||||||||||||||||||||||||||||||||||||||||||
Total cash costs | Total cash costs | Total cash costs | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost of sales per segmental information | Cost of sales per segmental information | 287 | 287 | 189 | 3 | 479 | Cost of sales per segmental information | 340 | 2,829 | ||||||||||||||||||||||||||||||||||||||||||||||
By-product revenue | By-product revenue | — | — | — | — | (1) | By-product revenue | (1) | (105) | ||||||||||||||||||||||||||||||||||||||||||||||
Inventory change | Inventory change | 3 | 3 | (1) | — | 2 | Inventory change | (1) | (16) | ||||||||||||||||||||||||||||||||||||||||||||||
Amortisation of tangible assets | Amortisation of tangible assets | (101) | (526) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortisation of right of use assets | Amortisation of right of use assets | (3) | (47) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortisation of intangible assets | Amortisation of intangible assets | — | — | — | — | — | Amortisation of intangible assets | — | (3) | ||||||||||||||||||||||||||||||||||||||||||||||
Amortisation of tangible and intangible assets | (47) | (47) | (13) | (1) | (61) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Rehabilitation and other non-cash costs | Rehabilitation and other non-cash costs | (2) | (2) | (2) | (2) | (6) | Rehabilitation and other non-cash costs | (4) | (32) | ||||||||||||||||||||||||||||||||||||||||||||||
Retrenchment costs | Retrenchment costs | (2) | (2) | — | — | (2) | Retrenchment costs | — | (2) | ||||||||||||||||||||||||||||||||||||||||||||||
Total cash costs net of by-product revenue | Total cash costs net of by-product revenue | 239 | 239 | 173 | — | 411 | Total cash costs net of by-product revenue | 230 | 2,101 | ||||||||||||||||||||||||||||||||||||||||||||||
Gold produced - oz (000)(1) | 244 | 244 | 175 | — | 419 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total cash costs per unit - $/oz(2) | 976 | 976 | 987 | — | 981 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Adjusted for non-controlling interests and non-gold producing companies(1) | Adjusted for non-controlling interests and non-gold producing companies(1) | — | (59) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total cash costs net of by-product revenue adjusted for non-controlling interests and non-gold producing companies | Total cash costs net of by-product revenue adjusted for non-controlling interests and non-gold producing companies | 230 | 2,042 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Gold produced – oz (000)(2) | Gold produced – oz (000)(2) | 364 | 2,442 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total cash costs (adjusted) per unit – $/oz(3) | Total cash costs (adjusted) per unit – $/oz(3) | 629 | 836 |
Kopanang | Moab Khotsong | Vaal River Operations | Mponeng | West Wits Operations | Surface Operations | South Africa other | Total South Africa (Operations) | ||||||||||||||||||||||||||||||||||||||||||||||
All-in sustaining costs | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost of sales per segmental information(3) | 29 | 48 | 77 | 320 | 320 | 193 | — | 590 | |||||||||||||||||||||||||||||||||||||||||||||
By-product revenue | (2) | (4) | (6) | — | — | — | — | (6) | |||||||||||||||||||||||||||||||||||||||||||||
Amortisation of tangible and intangible assets | — | — | — | (57) | (57) | (15) | — | (72) | |||||||||||||||||||||||||||||||||||||||||||||
Adjusted for decommissioning and inventory amortisation | — | — | — | — | — | (3) | — | (3) | |||||||||||||||||||||||||||||||||||||||||||||
Corporate administration and marketing related to current operations | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Inventory writedown to net realisable value and other stockpile adjustments | — | — | — | — | — | — | 1 | 1 | |||||||||||||||||||||||||||||||||||||||||||||
Sustaining exploration and study costs | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Total sustaining capital expenditure | — | 7 | 7 | 49 | 49 | 12 | — | 68 | |||||||||||||||||||||||||||||||||||||||||||||
All-in sustaining costs | 27 | 51 | 78 | 312 | 312 | 187 | 1 | 578 | |||||||||||||||||||||||||||||||||||||||||||||
All-in sustaining costs | 27 | 51 | 78 | 312 | 312 | 187 | 1 | 578 | |||||||||||||||||||||||||||||||||||||||||||||
Non-sustaining project capital expenditure | — | — | — | 5 | 5 | — | — | 5 | |||||||||||||||||||||||||||||||||||||||||||||
Technology improvements | — | — | — | — | — | — | 4 | 4 | |||||||||||||||||||||||||||||||||||||||||||||
Non-sustaining exploration and study costs | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Care and maintenance | — | — | — | — | — | — | 35 | 35 | |||||||||||||||||||||||||||||||||||||||||||||
Corporate and social responsibility costs not related to current operations | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||
All-in costs | 27 | 51 | 78 | 317 | 317 | 187 | 40 | 622 | |||||||||||||||||||||||||||||||||||||||||||||
Gold sold - oz (000)(1) | 13 | 41 | 53 | 265 | 265 | 171 | — | 490 | |||||||||||||||||||||||||||||||||||||||||||||
All-in sustaining cost (excluding stockpile write-offs) per unit - $/oz(2) | 2,115 | 1,247 | 1,452 | 1,177 | 1,177 | 1,094 | — | 1,178 | |||||||||||||||||||||||||||||||||||||||||||||
All-in cost per unit (excluding stockpile write-offs) - $/oz(2) | 2,115 | 1,247 | 1,452 | 1,196 | 1,196 | 1,094 | — | 1,268 |
Kopanang | Moab Khotsong | Vaal River Operations | Mponeng | West Wits Operations | Surface Operations | South Africa other | Total South Africa (Operations) | ||||||||||||||||||||||||||||||||||||||||||||||
Total cash costs | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost of sales per segmental information(3) | 29 | 48 | 77 | 320 | 320 | 193 | — | 590 | |||||||||||||||||||||||||||||||||||||||||||||
By-product revenue | (2) | (4) | (6) | — | — | — | — | (6) | |||||||||||||||||||||||||||||||||||||||||||||
Inventory change | — | (1) | (1) | — | — | (4) | — | (5) | |||||||||||||||||||||||||||||||||||||||||||||
Amortisation of intangible assets | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Amortisation of tangible assets | — | — | — | (57) | (57) | (15) | — | (72) | |||||||||||||||||||||||||||||||||||||||||||||
Rehabilitation and other non-cash costs | (2) | (1) | (3) | (4) | (4) | 2 | 2 | (3) | |||||||||||||||||||||||||||||||||||||||||||||
Retrenchment costs | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Total cash costs net of by-product revenue | 25 | 42 | 67 | 259 | 259 | 176 | 2 | 504 | |||||||||||||||||||||||||||||||||||||||||||||
Gold produced - oz (000) (1) | 12 | 39 | 51 | 265 | 265 | 171 | — | 487 | |||||||||||||||||||||||||||||||||||||||||||||
Total cash costs per unit - $/oz(2) | 2,002 | 1,083 | 1,304 | 977 | 983 | 1,030 | — | 1,033 |
$ (million) | |||||
Unsecured borrowings | |||||
Total borrowings | |||||
Less: Short-term maturities (current borrowings) | |||||
Total non-current borrowings |
$ (million) | |||||
Within one year | |||||
Between one and two years | |||||
Between two and five years | |||||
After five years | |||||
Total |
$ (million) | |||||
United States | |||||
Australian | |||||
South African rand | — | ||||
Tanzanian | |||||
Brazilian real | — | ||||
Total |
$ (million) | |||||
FirstRand Bank Limited corporate overnight facility | |||||
Multi-currency syndicated revolving credit facility ($1.4 billion) – US dollar / Australian dollar | |||||
Geita revolving credit facility ($150 million) – US dollar / Tanzanian shilling (1) | |||||
Siguiri revolving credit facility ($65 million) – US dollar | — | ||||
Total undrawn facilities |
$ (million) | |||||
Non-current | |||||
Current | |||||
Total |
Obligor Group(1) | ||||||||
$ (million) | Year ended 31 December 2022 | |||||||
Revenues from Non-Obligor Subsidiaries | 1 | |||||||
Revenues from Investments | 18 | |||||||
Net intergroup dividends, interest, royalties and fees with Non-Obligor Subsidiaries | 1 | |||||||
Loss for the period from continuing operations | (141) | |||||||
Loss for the period | (141) |
Obligor Group | ||||||||
$ (million) | Year ended 31 December 2022 | |||||||
ASSETS | ||||||||
Receivables due from Non-Obligor Subsidiaries | 1,640 | |||||||
Other current assets | 604 | |||||||
Total current assets | 2,244 | |||||||
Non-current assets | 36 | |||||||
LIABILITIES | ||||||||
Payables due to Non-Obligor Subsidiaries | 276 | |||||||
Other current liabilities | 198 | |||||||
Total current liabilities | 474 | |||||||
Non-current liabilities | 1,806 |
Expiration per period | Expiration per period | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commitment | Commitment | Total amount | Less than 1 year | 1 – 3 years | 4 – 5 years | Over 5 years | Commitment | Total amount | Less than 1 year | 1 – 3 years | 4 – 5 years | Over 5 years | ||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | $ | $ | $ | $ | $ | (in millions) | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||||
Capital expenditure (contracted and not yet contracted)(1) | Capital expenditure (contracted and not yet contracted)(1) | 487 | 416 | 71 | — | — | Capital expenditure (contracted and not yet contracted)(1) | 437 | 398 | 39 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||
Other commercial commitments(2) | Other commercial commitments(2) | 1,273 | 391 | 588 | 242 | 52 | Other commercial commitments(2) | 1,011 | 436 | 447 | 128 | — | ||||||||||||||||||||||||||||||||||||||||||||||
Total | Total | 1,760 | 807 | 659 | 242 | 52 | Total | 1,448 | 834 | 486 | 128 | — |
Total | Less than 1 year | 1 – 3 years | 4 – 5 years | More than 5 years | |||||||||||||||||||||||||
(in millions) | $ | $ | $ | $ | $ | ||||||||||||||||||||||||
Long-term debt obligations including interest(1) | 2,658 | 205 | 947 | 92 | 1,414 | ||||||||||||||||||||||||
Capital lease obligations | 160 | 42 | 60 | 39 | 19 | ||||||||||||||||||||||||
Purchase obligations | |||||||||||||||||||||||||||||
- Contracted capital expenditure(2) | 120 | 120 | |||||||||||||||||||||||||||
- Other purchase obligations(3) | 1,273 | 391 | 588 | 242 | 52 | ||||||||||||||||||||||||
Environmental rehabilitation costs(4) | 643 | 51 | 82 | 73 | 437 | ||||||||||||||||||||||||
Pensions and other post-retirement medical obligations(5) | 83 | 9 | 19 | 18 | 37 | ||||||||||||||||||||||||
Total | 4,937 | 818 | 1,696 | 464 | 1,959 |
Total | Less than 1 year | 1 – 3 years | 4 – 5 years | More than 5 years | |||||||||||||||||||||||||
(in millions) | $ | $ | $ | $ | $ | ||||||||||||||||||||||||
Long-term debt obligations including interest(1) | 2,775 | 102 | 392 | 183 | 2,098 | ||||||||||||||||||||||||
Capital lease obligations | 203 | 79 | 100 | 22 | 2 | ||||||||||||||||||||||||
Purchase obligations | |||||||||||||||||||||||||||||
- Contracted capital expenditure(2) | 178 | 178 | |||||||||||||||||||||||||||
- Other purchase obligations(3) | 1,011 | 436 | 447 | 128 | — | ||||||||||||||||||||||||
Environmental rehabilitation costs(4) | 734 | 61 | 109 | 83 | 481 | ||||||||||||||||||||||||
Provision for silicosis(5) | 43 | 12 | 13 | 15 | 3 | ||||||||||||||||||||||||
Pensions and other post-retirement medical obligations(6) | 71 | 8 | 18 | 16 | 29 | ||||||||||||||||||||||||
Total | 5,015 | 876 | 1,079 | 447 | 2,613 |
Name | Age | Position | Year first appointed(1) | |||||||||||||||||
Christine Ramon | 53 | Executive director and interim chief executive officer | 2014 | |||||||||||||||||
Maria Ramos (2) | 62 | Independent non-executive director and chairman | 2019 | |||||||||||||||||
Kojo Busia | 58 | Independent non-executive director | 2020 | |||||||||||||||||
Alan Ferguson | 63 | Independent non-executive director | 2018 | |||||||||||||||||
Albert Garner | 65 | Independent non-executive director | 2015 | |||||||||||||||||
Rhidwaan Gasant | 61 | Lead independent non-executive director | 2010 | |||||||||||||||||
Nelisiwe Magubane | 55 | Independent non-executive director | 2020 | |||||||||||||||||
Maria Richter | 66 | Independent non-executive director | 2015 | |||||||||||||||||
Jochen Tilk | 57 | Independent non-executive director | 2019 |
Name | Age | Position | Year first appointed(1) | |||||||||||||||||
Alberto Calderon | 63 | Executive director and Chief Executive Officer | 2021 | |||||||||||||||||
Gillian Doran | 46 | Executive director and Chief Financial Officer | 2023 | |||||||||||||||||
Maria Ramos | 64 | Independent non-executive director and chairperson | 2019 | |||||||||||||||||
Rhidwaan Gasant | 63 | Lead independent non-executive director | 2010 | |||||||||||||||||
Kojo Busia | 60 | Independent non-executive director | 2020 | |||||||||||||||||
Alan Ferguson | 65 | Independent non-executive director | 2018 | |||||||||||||||||
Albert Garner | 67 | Independent non-executive director | 2015 | |||||||||||||||||
Scott Lawson | 61 | Independent non-executive director | 2021 | |||||||||||||||||
Maria Richter | 68 | Independent non-executive director | 2015 | |||||||||||||||||
Jochen Tilk | 59 | Independent non-executive director | 2019 |
Maria Ramos | ||||||||||||||
MSc, | ||||||||||||||
Independent Non-Executive Director and | ||||||||||||||
Appointed: 1 June 2019 and | ||||||||||||||
Board committee memberships: | Nominations and Governance Committee | |||||||||||||
Rhidwaan Gasant |
BCompt (Hons), CA (SA), ACIMA, CGMA, Executive Development Programme | ||||||||
Lead Independent Non-Executive Director | ||||||||
Appointed: 12 August 2010 | ||||||||
Board committee memberships: | Audit and Risk Committee Remuneration and Human Resources Committee |
Nominations Committee |
Remuneration and Human Resources Committee |
Social, Ethics and Sustainability Committee |
Audit and Risk Committee Nominations Committee |
Social, Ethics and Sustainability Committee Nominations Committee Audit and Risk Committee |
Kojo Busia | ||||||||
Independent Non-Executive Director | ||||||||
Appointed: 1 August 2020 | ||||||||
Board committee memberships: | Social, Ethics and Sustainability Committee Investment Committee Nominations and Governance Committee |
Appointed: 1 October 2018 | ||||||||
Board committee memberships: | Audit and Risk Committee (Chairperson) Remuneration and Human Resources Committee Nominations and Governance Committee |
Albert Garner (67) | ||||||||
BSE | ||||||||
Independent Non-Executive Director | ||||||||
Appointed: 1 January 2015 | ||||||||
Board committee memberships: | Investment Committee Remuneration and Human Resources Committee |
Maria Richter (68) | ||||||||
BA, Juris Doctor | ||||||||
Independent Non-Executive Director | ||||||||
Appointed: 1 January 2015 | ||||||||
Board committee memberships: | Remuneration and Human Resources Committee (Chairperson) Nominations and Governance Committee Social, Ethics and Sustainability Committee |
Scott Lawson (61) | ||||||||
BSc, Civil Engineering, MBA | ||||||||
BSc, MBA | ||||||||
Independent Non-Executive Director | ||||||||
Appointed: 1 December 2021 | ||||||||
Board committee memberships: | Investment Committee Social, Ethics and Sustainability Committee |
Jochen Tilk (59) | ||||||||
Bachelors in Mining Engineering, Masters in Mining Engineering | ||||||||
Independent Non-Executive Director | ||||||||
Appointed: 1 January 2019 | ||||||||
Board committee memberships: | Investment Committee (Chairperson) Social, Ethics and Sustainability Committee Nominations and Governance Committee Audit and Risk Committee |
Alberto Calderon (63) | ||||||||
PhD, MPhil, MA, Juris Doctor, BA | ||||||||
Chief Executive Officer and Executive Director | ||||||||
Appointed: 1 | ||||||||
Board committee memberships: | None |
Gillian Doran (46) | ||||||||
Fellow Member of Association of Chartered Certified Accountants (FCCA) | ||||||||
Chief Financial Officer and Executive Director | ||||||||
Appointed: 1 January 2023 | ||||||||
Board committee memberships: | Investment Committee |
Executive | Notice period | Change of control | ||||||
Chief Executive Officer | 12 months | 12 months | ||||||
Chief Financial Officer | 6 months | 6 months | ||||||
Other Executive Management team members | 6 months | 6 months |
Board (12) | Audit and Risk | Investment | Remuneration and Human Resources | Social, Ethics and Sustainability | Nominations | NED Search (13) | Special Committee A (13) | Special Committee B (13) | |||||||||||||||||||||
Number of meetings in 2020 | 11 | 5 | 4 | 5 | 5 | 4 | 1 | 4 | 3 | ||||||||||||||||||||
SM Pityana (1) | 11 | n/a | n/a | 5 | 5 | 3 | 1 | 4 | 2 | ||||||||||||||||||||
KOF Busia (2) | 5 | n/a | 2 | n/a | 2 | 3 | n/a | n/a | n/a | ||||||||||||||||||||
KPM Dushnisky (3) | 7 | n/a | n/a | n/a | n/a | n/a | n/a | 4 | n/a | ||||||||||||||||||||
AM Ferguson (4) | 11 | 5 | n/a | 5 | n/a | 3 | n/a | 4 | n/a | ||||||||||||||||||||
AH Garner (5) | 11 | n/a | 4 | n/a | n/a | 1 | n/a | 4 | n/a | ||||||||||||||||||||
R Gasant | 11 | 5 | 4 | n/a | n/a | 3 | 1 | n/a | 3 | ||||||||||||||||||||
NP January-Bardill (6) | 4 | n/a | n/a | 1 | 2 | n/a | 1 | n/a | n/a | ||||||||||||||||||||
NVB Magubane (7) | 11 | n/a | 4 | n/a | 5 | n/a | n/a | n/a | n/a | ||||||||||||||||||||
KC Ramon | 11 | n/a | 4 | n/a | n/a | n/a | n/a | n/a | n/a | ||||||||||||||||||||
MDC Ramos (8) | 11 | n/a | 1 | 4 | 5 | 3 | 1 | 4 | 3 | ||||||||||||||||||||
MC Richter (9) | 11 | 5 | n/a | 5 | n/a | 1 | n/a | n/a | n/a | ||||||||||||||||||||
RJ Ruston (10) | 4 | 2 | 1 | n/a | n/a | n/a | n/a | n/a | n/a | ||||||||||||||||||||
JE Tilk (11) | 11 | 2 | 4 | n/a | 5 | 3 | n/a | n/a | 3 |
Board (3) | Audit and Risk | Investment | Remuneration and Human Resources | Social, Ethics and Sustainability | Nominations and Governance (4) | |||||||||||||||
Number of meetings in 2022 | 9 | 7 | 7 | 9 | 5 | 7 | ||||||||||||||
MDC Ramos | 9 | n/a | n/a | n/a | 5 | 6 | ||||||||||||||
KOF Busia | 9 | n/a | 7 | n/a | 5 | 6 | ||||||||||||||
A Calderon | 9 | n/a | n/a | n/a | n/a | n/a | ||||||||||||||
AM Ferguson | 9 | 7 | n/a | 9 | n/a | 7 | ||||||||||||||
AH Garner | 9 | n/a | 6 | 9 | n/a | n/a | ||||||||||||||
R Gasant | 9 | 7 | 7 | 9 | n/a | 7 | ||||||||||||||
SP Lawson | 9 | n/a | 7 | n/a | 5 | n/a | ||||||||||||||
NVB Magubane (1) | 6 | 4 | n/a | n/a | 4 | n/a | ||||||||||||||
KC Ramon (2) | 4 | n/a | 5 | n/a | n/a | n/a | ||||||||||||||
MC Richter | 9 | 7 | n/a | 9 | n/a | 6 | ||||||||||||||
JE Tilk | 9 | 7 | 7 | n/a | 5 | 6 |
Audit and Risk Committee Members (1) | AM Ferguson (Chairman and independent NED) | ||||
R Gasant | |||||
JE Tilk (Independent NED) | |||||
Number of meetings held from January to December | |||||
Remuneration and Human Resource Committee Members | MC Richter (Chairperson and independent NED) | ||||
R Gasant (Independent NED) | |||||
AM Ferguson (Independent NED) | |||||
A Garner (Independent NED) | |||||
Number of meetings held from January to December | |||||
Other individuals who regularly attended meetings (attended by invitation or if needed to contribute pertinent insights and information) | A Calderon (CEO) | ||||
KC Ramon | |||||
A Sidat representing | |||||
CM van Dyk (Remuneration and Benefits |
2020 | 2019 | 2018 | |||||||||||||||
Africa | 16,829 | 15,786 | 14,833 | ||||||||||||||
Australia | 1,230 | 1,140 | 1,051 | ||||||||||||||
Americas | 8,789 | 8,114 | 7,973 | ||||||||||||||
Other, including corporate and non-gold producing subsidiaries | 1,807 | 1,353 | 1,589 | ||||||||||||||
South Africa - discontinued operations (1) | 8,297 | 7,870 | 18,803 | ||||||||||||||
Total* | 36,952 | 34,263 | 44,249 |
2022 | 2021 | 2020 | |||||||||||||||
Africa | 19,807 | 17,260 | 16,829 | ||||||||||||||
Australia | 1,532 | 1,332 | 1,230 | ||||||||||||||
Americas | 9,498 | 9,972 | 8,789 | ||||||||||||||
Other, including corporate and non-gold producing subsidiaries | 1,757 | 1,997 | 1,807 | ||||||||||||||
South Africa - discontinued operations (1) | — | — | 8,297 | ||||||||||||||
Total* | 32,594 | 30,561 | 36,952 |
Employees covered by collective bargaining agreements | |||||
Argentina | 90 percent | ||||
Brazil | 100 percent | ||||
Ghana | 86 percent | ||||
Guinea | 94 percent | ||||
Tanzania | 86 percent |
Role | Within three years of appointment/from introduction of MSR (1 January 2020) | Within six years of appointment/from introduction of MSR (1 January 2020) | Holding requirement | 12-month Post-Termination Holding (1 January 2022) | |||||||||||||||||||
CEO | 150% of net annual base salary | 300% of net annual base salary | |||||||||||||||||||||
CFO | 125% of net annual base salary | 250% of net annual base salary | |||||||||||||||||||||
Executive Management Team | 100% of net annual base salary | 200% of net base salary | |||||||||||||||||||||
The following count towards an individual MSR: •Shares purchased on the market, either directly or indirectly •Vested shares from AngloGold Accumulation of the post-termination holding commences on 1 January 2022, Executives have five years from introduction or appointment to accumulate holding. |
Executive | Executive | Six-year target achievement date | MSR holding as at 31 December 2020 as a percentage of net base pay | Three-year MSR target achievement percentage | Six-year MSR target achievement percentage | Executive | Six-year target achievement date | MSR holding as at 31 December 2022 as a percentage of net base pay | Three-year MSR target achievement percentage | Six-year MSR target achievement percentage | ||||||||||||||||||
Executive directors | Executive directors | Executive directors | ||||||||||||||||||||||||||
KPM Dushnisky (1) | – | 141 | 150 | 300 | ||||||||||||||||||||||||
KC Ramon | March 2021 | 553 | 125 | 250 | ||||||||||||||||||||||||
A Calderon | A Calderon | September 2027 | 38% | 150% | 300% | |||||||||||||||||||||||
Prescribed officers | Prescribed officers | Prescribed officers | ||||||||||||||||||||||||||
L Ali (1) | L Ali (1) | April 2028 | 56% | 100% | 200% | |||||||||||||||||||||||
SD Bailey | SD Bailey | January 2025 | 115 | 100 | 200 | SD Bailey | January 2025 | 298% | 100% | 200% | ||||||||||||||||||
PD Chenard (2) | – | 119 | 100 | 200 | ||||||||||||||||||||||||
GJ Ehm | March 2019 | 279 | 100 | 200 | ||||||||||||||||||||||||
TJ Briggs (1) | TJ Briggs (1) | April 2028 | 0% | 100% | 200% | |||||||||||||||||||||||
L Eybers | L Eybers | March 2023 | 291 | 100 | 200 | L Eybers | March 2023 | 491% | 100% | 200% | ||||||||||||||||||
MC Godoy | MC Godoy | October 2027 | 206% | 100% | 200% | |||||||||||||||||||||||
I Kramer | I Kramer | September 2026 | 27 | 100 | 200 | I Kramer | July 2028 | 4% | 100% | 200% | ||||||||||||||||||
L Marwick | L Marwick | July 2026 | 78 | 100 | 200 | L Marwick | July 2026 | 144% | 100% | 200% | ||||||||||||||||||
S Ntuli | March 2025 | 95 | 100 | 200 | ||||||||||||||||||||||||
TR Sibisi | March 2022 | 282 | 100 | 200 |
(1) Appointed prescribed officer with effect from 1 April 2022 and the 3-year MSR achievement is due in April 2025 | ||||||||||||||
(2) Appointed prescribed officer with effect from 1 July 2022 to 31 December 2022. The MSR holding is not required subsequent to the appointment period. |
Four-year target achievement date | MSR holding as at 31 December 2022 as a percentage of annual base fee | Two-year MSR target achievement percentage | Four-year MSR target achievement percentage | |||||||||||
Non-Executive Directors | ||||||||||||||
MDC Ramos (Chairperson) | February 2026 | 0% | 75% | 150% | ||||||||||
R Gasant (Lead independent director) | February 2026 | 0% | 75% | 150% | ||||||||||
KOF Busia | February 2026 | 36% | 75% | 150% | ||||||||||
AM Ferguson | February 2026 | 90% | 75% | 150% | ||||||||||
AH Garner | February 2026 | 404% | 75% | 150% | ||||||||||
SP Lawson | February 2026 | 51% | 75% | 150% | ||||||||||
MC Richter | February 2026 | 203% | 75% | 150% | ||||||||||
JE Tilk | February 2026 | 50% | 75% | 150% |
Cash | Shares | Total Incentive | Cash | Shares | Total Incentive | |||||||||||||||||
Level | Level | On Target Achievement | Level | On-Target Achievement | ||||||||||||||||||
CEO | CEO | 100.00% | 200.00% | 300.00% % % | CEO | 100.00% | 200.00% | 300.00% % % | ||||||||||||||
CFO | CFO | 85.00% % | 185.00% % | 270.00% % % | CFO | 85.00% % | 185.00% % | 270.00% % % | ||||||||||||||
EVP/COO | 75.00% % | 174.00% % | 249.00% % % | |||||||||||||||||||
Executive Management Team | Executive Management Team | 75.00% % | 174.00% % | 249.00% % % |
DSP performance measure | Weighting | Threshold measures | Target measures | Stretch measures | 2022 achievement % | |||||||||||||||
Financial measures | Relative total shareholder return (measured in US$) | 12.50% | Median TSR of comparators | Halfway between median and upper quartile | Upper quartile TSR of comparators | 0.00% | ||||||||||||||
Absolute total shareholder return (measured in US$) | 7.50% | USD COE (6%) | USD COE + 2% (8%) | USD COE + 6% (12%) | 11.25% | |||||||||||||||
Normalised cash return on equity (nCROE) | 15.00% | USD COE (6%) | USD COE + 9% (15%) | USD COE + 18% (24%) | 22.50% | |||||||||||||||
Production | 15.00% | 2,550 oz (000) | 2,734 oz (000) | 2,837 oz (000) | 15.60% | |||||||||||||||
Total cash cost | 10.00% | $1,015 / oz | $963 / oz | $915 / oz | 0.00% | |||||||||||||||
All-in sustaining costs | 5.00% | $1,425 / oz | $1,355 / oz | $1,285 / oz | 4.00% | |||||||||||||||
Future optionality | Mineral Reserve additions (pre-depletion, asset sales, mergers and acquisitions) | 5.50% | Plus 1.6 Moz | Plus 3.2 Moz | Plus 4.8 Moz | 5.98% | ||||||||||||||
Mineral Resources (pre-depletion, asset sales, mergers and acquisitions) | 5.50% | Plus 4.2 Moz | Plus 8.3 Moz | Plus 12.5 Moz | 4.10% | |||||||||||||||
Safety | All injury frequency rate (AIFR) – one year | 8.00% | ≥2.5% performance improvement (2.07) | ≥5% performance improvement (2.01) | ≥7.5% performance improvement (1.96) | 11.24% | ||||||||||||||
Major hazard control compliance | 95% critical control compliance | 99% critical control compliance | 99.5% critical control compliance | |||||||||||||||||
Health, Environmental and Community | Health (2.5%): Reduction in workforce exposed to high respirable crystalline silica dust | 12.00% | 4% reduction | 7% reduction | 13% reduction | 17.33% | ||||||||||||||
Environment (7.5%): Greenhouse gas emissions management | 110% of budgeted carbon emission intensity (37.91) | 100% of budgeted carbon emission intensity (34.46) | 95% of budgeted carbon emission intensity (32.74) | |||||||||||||||||
Community (2%): Business disruptions as a result of community unrest | 2 | 1 | 0 | |||||||||||||||||
People | Gender diversity | 4.00% | 21% female representation | 23% female representation | 25% female representation | 2.86% | ||||||||||||||
Key staff retention | 85% pa | 90% pa | 95% pa | |||||||||||||||||
Total | 100% | 94.86% |
Threshold achievement (50%) | 33.93% | Median | ||||||
Target achievement (100%) | 49.05% | Halfway between median and upper quartile | ||||||
Stretch achievements (150%) | 64.17% | Upper quartile |
Threshold achievement (50%) | US cost of equity (COE) | 6.00% | ||||||
Target achievement (100%) | COE + 2% | 8.00% | ||||||
Stretch achievements (150%) | COE + 6% | 12.00% |
Scorecard | Weighting | Comments | ||||||
Health, safety, environment and community •Safety – 12.5% •Health, environment and community – 12.5% •Results aligned to Company DSP outcome | 25% | AngloGold Ashanti’s safety performance improved year-on-year •Total recordable injury frequency rate improved 41% to a record 1.26 in 2022 – less than half the 2021 ICMM member average of 2.90 •Lost-time injury frequency rate fell 40% to 0.65 year-on-year •Visible leadership on Major Hazard Critical Controls programme •Set new Scope 1 and 2 greenhouse gas reduction targets for 2030, including detailed programme of projects and capital estimates | ||||||
Financial and production •Achievement of budget production oz’s and cash cost / oz •Significantly advance Project Full Potential: Identify the full potential of 5-6 operations and the measures to close the gap during following 24 months •Build major projects for the company’s long- term future inclusive of significant progress made on: ▪Obuasi – 5% ▪Colombia project – 5% ▪Nevada project – 5% •Support the move of major capital projects through development phases | 55% | Exceeded budgeted production for first time since 2017. Achieved real cash cost reduction of 6% in volatile, inflationary environment, closing the gap vs. peer group, where costs increased above inflation: •Improvement projects helped offset significant exogenous factors, including flooding in Brazil and Covid impact on labour in Australia •Siguiri management intervention helped exceed planned production amid challenging operating conditions •Obuasi production met market expectations Initiated Full Asset Potential Programme: •Six sites underwent FP programme; potential cost reductions identified •Workbooks in place to realise efficiencies over c.24 months Growth Projects: •Quebradona Optimised Feasibility Study progressed; Environmental Impact assessment is in progress •North Bullfrog feasibility study expected now in first half of 2023; Feasibility study for Silicon rescheduled to include Merlin and other orebodies | ||||||
Individual KPIs •Embed Operating Model changes •Effective stakeholder management through: | 20% | •Implemented new Operating Model; achieved planned personnel efficiencies in corporate functions and business units, with commensurate cost benefits | ||||||
▪Good corporate governance and risk management | Corporate governance - simplified Delegation of Authority framework and implemented review of Group policies and standards | |||||||
▪Effective relationships with shareholders and investors | •Worked to develop relationship with shareholders and analysts through industry conferences, roadshows and roundtable meetings. Improved market understanding of overall strategy and Full Asset Potential process, aided by engagement during results reporting and set-piece engagements | |||||||
▪Good relations with governments in operating countries | •Government relations strengthened - increased personal interactions with key officials, including high-level meetings with governments of Ghana and Tanzania to strengthen relationships and discuss issues of mutual interest | |||||||
▪Effective regular communication with board, executive committee, operations, projects and employees | •Employee townhalls, site visits and visible leadership on mental wellbeing and sexual harassment prevention campaigns. Culture survey results and subsequent workshops and feedback sessions have effectively boosted employee morale and engagement | |||||||
•Implemented an integrated new ExCom and significant changes at senior management level to ensure robust capability to deliver the business plan | ||||||||
•Global implementation of the anti-discrimination and sexual harassment standards | ||||||||
Total | 100% |
CEO: Performance incentive outcome 2022 | ||||||||
2022 DSP performance outcome | Weighting | DSP award outcome | ||||||
Financial performance targets | ||||||||
Relative total shareholder return | 12.50% | 0.00% | ||||||
Absolute total shareholder return | 7.50% | 11.25% | ||||||
Normalised cash return on equity (nCROE) | 15.00% | 22.50% | ||||||
Production | 15.00% | 15.60% | ||||||
Total Cash Costs | 10.00% | 0.00% | ||||||
All-in sustaining costs | 5.00% | 4.00% | ||||||
Mineral Reserve pre-depletion | 5.50% | 5.98% | ||||||
Mineral Resource additions pre-depletion | 5.50% | 4.10% | ||||||
Safety | 8.00% | 11.24% | ||||||
Health, Environment and Community | 12.00% | 17.33% | ||||||
Core value: People | 4.00% | 2.86% | ||||||
Total % for Company performance: | 100.0% | 94.86% | ||||||
. |
Organisational performance weighting: | 80.00% | |||||||
= | ||||||||
A - Organisational performance weighted outcome: | 75.89% | |||||||
Individual performance results | ||||||||
Actual individual targets and strategic objectives are not disclosed in order to maintain commercial confidentiality in competitive markets | ||||||||
Individual performance weighting: | 20.00% | |||||||
X | ||||||||
Performance rating award correlation: | 150.00% | |||||||
= | ||||||||
B - DSP opportunity based on individual performance: | 30.00% | |||||||
Total % of DSP pay opportunity (A+B) | 105.89% | |||||||
x | ||||||||
On-target total cash bonus opportunity (as % of base pay) | 100.00% | |||||||
On-target total deferred share award opportunity (as % of base pay) | 200.00% | |||||||
= | ||||||||
Final cash bonus result (as % of base pay) | 105.89% | |||||||
Final deferred share result (as % of base pay) | 211.78% | |||||||
Base pay as at 31 December 2022 (all offshore payments converted to ZAR at exchange rate of ZAR16.3655: USD1) | x | |||||||
26,184,800 | ||||||||
= | ||||||||
Annual cash portion of DSP: | 27,726,561 | |||||||
Annual deferred share portion of DSP (to vest over five years): | 55,453,122 | |||||||
Total 2022 deferred share plan award: | 83,179,683 |
Scorecard | Weighting | Comments | ||||||
Leadership and stakeholder engagement | 5% | •Maintained effective relationships with equity and debt investors, banks, ratings agencies, auditors and joint venture partners •Continued to provide input at relevant stakeholders’ forums on financial, tax and regulatory matters | ||||||
Liquidity, credit ratings and balance sheet management | 15% | •Refinanced $1.4bn multi-currency RCF by mid-June 2022 at favourable terms, for a five-year tenure with two one-year extensions •Proactively engaged the ratings agencies on the Company’s strategy, operational performance, and cost initiatives. AngloGold Ashanti’s credit ratings were maintained by all three credit ratings agencies | ||||||
Cost discipline and cash preservation measures | 50% | •Production and cost guidance remained on track for the year in the first half of 2022 •Maintained focus on optimising corporate costs, as well as non-essential expenditure •Proactively managed supply chain risks across the business amidst challenging market conditions resulting from COVID-19-related impacts and the Russia/Ukraine war | ||||||
•Adequate levels of consumables and spares (3-6 months) have been maintained across the operations to maintain business continuity. Targeted supply chain savings remained on track despite inflationary pressures due to stocking and pricing strategies and ensured that the full asset potential programme was adequately supported | ||||||||
Governance and risk management | 15% | •Ensured that a strong culture of compliance and consistency of accounting practices prevailed through regular interaction with business units •Ensured a strong focus on the Tanzanian tax matters and that there is appropriate disclosure of all tax exposures •Assessed oil hedging at various intervals earlier in the year | ||||||
Implementation of the Operating Model | 15% | •The approved Operating Model structures for the Finance and Supply functions were embedded well before the end of June 2022; appropriate transition plans developed identified risks •Ensured that the business process optimisation initiatives had been progressed and that projects have been put in place to address the recommendations | ||||||
Total | 100% |
CEO: Performance incentive outcome 2022 | ||||||||
2022 DSP performance outcome | Weighting | DSP award outcome | ||||||
Financial performance targets | ||||||||
Relative total shareholder return | 12.50% | 0.00% | ||||||
Absolute total shareholder return | 7.50% | 11.25% | ||||||
Normalised cash return on equity (nCROE) | 15.00% | 22.50% | ||||||
Production | 15.00% | 15.60% | ||||||
Total Cash Costs | 10.00% | 0.00% | ||||||
All-in sustaining costs | 5.00% | 4.00% | ||||||
Mineral Reserve pre-depletion | 5.50% | 5.98% | ||||||
Mineral Resource additions pre-depletion | 5.50% | 4.10% | ||||||
Safety | 8.00% | 11.24% | ||||||
Health, Environment and Community | 12.00% | 17.33% | ||||||
Core value: People | 4.00% | 2.86% | ||||||
Total % for Company performance: | 100.0% | 94.86% | ||||||
Organisational performance weighting: | 80.00% | |||||||
= | ||||||||
A - Organisational performance weighted outcome: | 75.89% | |||||||
Individual performance results | ||||||||
Actual individual targets and strategic objectives are not disclosed in order to maintain commercial confidentiality in competitive markets | ||||||||
Individual performance weighting: | 20.00% | |||||||
X | ||||||||
Performance rating award correlation: | 112.50% | |||||||
= | ||||||||
B - DSP opportunity based on individual performance: | 22.50% | |||||||
Total % of DSP pay opportunity (A+B) | 98.39% | |||||||
x | ||||||||
On-target total cash bonus opportunity (as % of base pay) | 85.00% | |||||||
On-target total deferred share award opportunity (as % of base pay) | 185.00% | |||||||
= | ||||||||
Final cash bonus result (as % of base pay) | 83.63% | |||||||
Final deferred share result (as % of base pay) | 0.00%(1) | |||||||
Base pay for six months as at 30 June 2022 (all offshore payments converted to ZAR at exchange rate of ZAR16.3655: USD1) | x | |||||||
5,441,578 | ||||||||
= | ||||||||
Annual cash portion of DSP: | 4,550,781 | |||||||
Annual deferred share portion of DSP (to vest over five years): | — | |||||||
Total 2022 deferred share plan award: | 4,550,781 |
Title of class | Authorised | Issued | ||||||||||||
Ordinary shares | 600,000,000 | 416,890,087 | ||||||||||||
A preference shares | 2,000,000 | 2,000,000 | ||||||||||||
B preference shares | 5,000,000 | 778,896 | ||||||||||||
C preference shares | 30,000,000 | 0 |
Title of class (1) | Authorised | Issued | ||||||||||||
Ordinary shares | 600,000,000 | 418,600,473 |
Number of Shares | Rand | Number of Shares | Rand | Number of Shares | Rand | |||||||||||||||||||||||||||||||||
2020 | 2019 | 2018 | ||||||||||||||||||||||||||||||||||||
At 1 January | 415,301,215 | 103,825,307 | 412,769,980 | 103,192,498 | 410,054,615 | 102,513,654 | ||||||||||||||||||||||||||||||||
Issued during the year: | ||||||||||||||||||||||||||||||||||||||
Exercise of options by participants in the AngloGold Share Incentive Scheme | 1,588,872 | 397,218 | 2,531,235 | 632,809 | 2,715,365 | 678,844 | ||||||||||||||||||||||||||||||||
31 December 2020 | 416,890,087 | 104,222,525 | 415,301,215 | 103,825,307 | 412,769,980 | 103,192,498 |
Number of Shares | Rand | Number of Shares | Rand | Number of Shares | Rand | ||||||||||||||||||||||||||||||||||||
2022 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||||
At 1 January | 417,501,452 | 104,375,363 | 416,890,087 | 104,222,522 | 415,301,215 | 103,825,304 | |||||||||||||||||||||||||||||||||||
Issued during the year: | |||||||||||||||||||||||||||||||||||||||||
Exercise of options by participants in the AngloGold Share Incentive Scheme | 1,099,021 | 274,755 | 611,365 | 152,841 | 1,588,872 | 397,218 | |||||||||||||||||||||||||||||||||||
31 December | 418,600,473 | 104,650,118 | 417,501,452 | 104,375,363 | 416,890,087 | 104,222,522 | |||||||||||||||||||||||||||||||||||
Ordinary shares held at | 31 December 2020 | 31 December 2019 | 31 December 2018 | |||||||||||||||||||||||||||||||||||
Shareholder* | Number of Shares | Percent Voting Rights | Number of Shares | Percent Voting Rights | Number of Shares | Percent Voting Rights | ||||||||||||||||||||||||||||||||
Public Investment Corp. of South Africa | 39,846,637 | 9.56 | 30,439,075 | 7.33 | 25,395,823 | 6.15 | ||||||||||||||||||||||||||||||||
BlackRock Inc. | 27,956,084 | 6.71 | 41,236,154 | 9.93 | 32,926,713 | 7.98 | ||||||||||||||||||||||||||||||||
Van Eck Global | 26,488,311 | 6.35 | 27,375,511 | 6.59 | 52,402,004 | 12.70 |
Ordinary shares held at | 31 December 2022 | 31 December 2021 | 31 December 2020 | |||||||||||||||||||||||||||||||||||
Shareholder* | Number of Shares | Percent Voting Rights | Number of Shares | Percent Voting Rights | Number of Shares | Percent Voting Rights | ||||||||||||||||||||||||||||||||
Public Investment Corporation of South Africa | 51,477,205 | 12.30 | 44,332,506 | 10.62 | 39,846,637 | 9.56 | ||||||||||||||||||||||||||||||||
BlackRock Inc. | 29,536,274 | 7.06 | 27,155,066 | 6.50 | 27,956,084 | 6.71 | ||||||||||||||||||||||||||||||||
Van Eck Associates Corporation | 23,602,172 | 5.64 | n/a | n/a | 26,488,311 | 6.35 | ||||||||||||||||||||||||||||||||
Coronation Holdings | n/a | n/a | 37,322,250 | 8.94 | n/a | n/a |
Purchases from related party | |||||
(in million) | $ | ||||
Purchases of goods and services from related parties | |||||
Rand Refinery (Pty) Limited | |||||
services rendered to related parties | ||||||
Share capital | South African Rands | ||||
600,000,000 ordinary shares of R0.25 each | 150,000,000 |
ADS holders must pay: | For: | ||||
$5.00 (or less) per 100 ADSs | Each issuance of an ADS, including as a result of a distribution of AngloGold Ashanti ordinary shares or rights or other property Each cancellation of an ADS, including if the Deposit Agreement terminates | ||||
$0.02 (or less) per ADS | Any cash payment | ||||
Registration or transfer fees | Transfer and registration of AngloGold Ashanti ordinary shares on the AngloGold Ashanti share register to or from the name of The Bank of New York Mellon or its agent when AngloGold Ashanti ordinary shares are deposited or withdrawn | ||||
$0.02 (or less) per ADS per year | Depositary services | ||||
Expenses of The Bank of New York Mellon | Conversion of non-US currency to US dollars Cable, telex and facsimile transmission expenses Servicing the deposited securities | ||||
Taxes and other governmental charges that The Bank of New York Mellon or any Custodian has to pay on any ADS or AngloGold Ashanti ordinary share underlying an | As necessary | ||||
A fee equivalent to the fee that would have been payable if the securities distributed had been ordinary shares deposited for issuance of ADSs | Distribution of securities distributed to holders of deposited securities that are distributed by The Bank of New York Mellon to ADS holders |
If AngloGold Ashanti: | Then: | ||||||||||
Reclassifies, splits up or consolidates any of the deposited securities; | The cash, ordinary shares or other securities received by The Bank of New York Mellon will become deposited securities. Each ADS will automatically represent its equal share of the new deposited securities. | ||||||||||
Distributes securities on the ordinary shares that are not distributed to holders of ADSs; or Recapitalises, reorganises, merges, liquidates, sells all or substantially all of AngloGold Ashanti’s assets, or takes any similar action. | The Bank of New York Mellon may, and will if AngloGold Ashanti asks it to, distribute some or all of the cash, AngloGold Ashanti ordinary shares or other securities it receives. It may also issue new ADSs or ask holders of ADSs to surrender their outstanding ADSs in exchange for new ADSs identifying the new deposited securities. |
• | Daily | Treasury Manager | |||||||||
• | Weekly | Treasurer | |||||||||
• | Monthly | ||||||||||
• | Quarterly | Audit and Risk Committee and Board of Directors | |||||||||
2020 | 2019 | 2022 | 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity date | Maturity date | Currency | Fixed rate investment amount (million) | Effective rate % | Floating rate investment amount (million) | Effective rate % | Fixed rate investment amount (million) | Effective rate % | Floating rate investment amount (million) | Effective rate % | Maturity date | Currency | Fixed rate investment amount (million) | Effective rate % | Floating rate investment amount (million) | Effective rate % | Fixed rate investment amount (million) | Effective rate % | Floating rate investment amount (million) | Effective rate % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
All less than one year | All less than one year | $ | — | 572 | 0.15 | 21 | 0.58 | 103 | 1.09 | All less than one year | $ | 8 | — | 507 | 3.48 | 1 | — | 301 | 0.10 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ZAR | 2,611 | 3.30 | 29 | 2.00 | 166 | 6.56 | 25 | 5.00 | ZAR | 1,471 | 6.87 | — | 1,337 | 3.54 | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
AUD | — | 50 | — | — | 41 | 0.23 | AUD | — | — | 49 | 1.07 | — | — | 72 | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
BRL | — | 32 | 1.90 | — | 33 | 5.94 | BRL | — | — | 52 | 11.57 | — | — | 106 | 4.27 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ARS | 6,679 | 34.00 | 4,820 | 30.00 | 1,831 | 35.00 | 81 | 28.00 | ARS | 18,178 | 66.50 | 2,362 | 65.50 | 13,256 | 34.00 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CAD | — | — | — | — | — | — | 353 | 0.19 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
GBP | — | — | 2 | 1.54 | — | — | — | — |
Within one year | Between One and two years | Between Two and five years | After five years | Total | Within one year | Between One and two years | Between Two and five years | After five years | Total | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Currency | Currency | Borrowings amount (million) | Effective rate % | Borrowings amount (million) | Effective rate % | Borrowings amount (million) | Effective rate % | Borrowings amount (million) | Effective rate % | Borrowings amount (million) | Currency | Borrowings amount (million) | Effective rate % | Borrowings amount (million) | Effective rate % | Borrowings amount (million) | Effective rate % | Borrowings amount (million) | Effective rate % | Borrowings amount (million) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ | $ | 95 | 6.4 | 812 | 5.4 | — | — | 977 | 4.6 | 1,884 | $ | 16 | 5.5 | 63 | 11.9 | 58 | 12.4 | 1,721 | 4.1 | 1,858 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
BRL | 1 | 5.7 | — | — | — | — | — | — | 1 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
AUD | AUD | — | — | — | — | 54 | 4.5 | — | — | 54 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TZS | TZS | 108,170 | 12.5 | — | — | — | — | — | — | 108,170 | TZS | 3,586 | 12.5 | 201,542 | 12.5 | — | — | — | — | 205,128 |
Fixed for less than one year | Fixed for between one and three years | Fixed for greater than three years | Fixed for less than one year | Fixed for between one and three years | Fixed for greater than three years | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Currency | Currency | Borrowings amount (million) | Effective rate % | Borrowings amount (million) | Effective rate % | Borrowings amount (million) | Effective rate % | Total Borrowings amount (million) | Currency | Borrowings amount (million) | Effective rate % | Borrowings amount (million) | Effective rate % | Borrowings amount (million) | Effective rate % | Total Borrowings amount (million) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ | $ | 95 | 6.4 | 812 | 5.4 | 977 | 4.6 | 1,884 | $ | 16 | 5.5 | 128 | 12.1 | 1,714 | 4.1 | 1,858 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
BRL | 1 | 5.7 | — | — | — | — | 1 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
AUD | AUD | — | — | — | — | 54 | 4.5 | 54 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TZS | TZS | 108,170 | 12.5 | — | 0 | — | — | 108,170 | TZS | 3,586 | 12.5 | 201,542 | 12.5 | — | — | 205,128 |
2020 | 2019 | 2022 | 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||
Carrying Amount | Fair value | Carrying Amount | Fair value | Carrying Amount | Fair value | Carrying Amount | Fair value | |||||||||||||||||||||||||||||||||||||||||||||
(millions) | (millions) | $ | $ | $ | $ | (millions) | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents | Cash and cash equivalents | 1,330 | 1,330 | 456 | 456 | Cash and cash equivalents | 1,108 | 1,108 | 1,154 | 1,154 | ||||||||||||||||||||||||||||||||||||||||||
Restricted cash | Restricted cash | 73 | 73 | 64 | 64 | Restricted cash | 60 | 60 | 58 | 58 | ||||||||||||||||||||||||||||||||||||||||||
Deferred compensation asset | Deferred compensation asset | 28 | 28 | — | — | Deferred compensation asset | 12 | 12 | 25 | 25 | ||||||||||||||||||||||||||||||||||||||||||
Short-term borrowings | Short-term borrowings | (142) | (142) | (734) | (741) | Short-term borrowings | (18) | (18) | (51) | (51) | ||||||||||||||||||||||||||||||||||||||||||
Long-term borrowings | Long-term borrowings | (1,789) | (1,989) | (1,299) | (1,394) | Long-term borrowings | (1,965) | (1,808) | (1,858) | (1,960) | ||||||||||||||||||||||||||||||||||||||||||
Listed investments - FVTPL | — | — | 21 | 21 | ||||||||||||||||||||||||||||||||||||||||||||||||
Listed investments - FVTOCI | Listed investments - FVTOCI | 186 | 186 | 82 | 82 | Listed investments - FVTOCI | 2 | 2 | 116 | 116 | ||||||||||||||||||||||||||||||||||||||||||
Listed and unlisted investments | Listed and unlisted investments | 2 | 2 | 67 | 67 | Listed and unlisted investments | 1 | 1 | 1 | 1 |
Year ended 31 December | |||||||||||
2020 | 2019 | ||||||||||
(millions) | $ | $ | |||||||||
Other commodity contracts(1) | (19) | 5 |
Year ended 31 December | |||||||||||
2022 | 2021 | ||||||||||
(millions) | $ | $ | |||||||||
Other commodity contracts | (6) | — |
Change in exchange rate | Change in borrowings Total | |||||||||||||
$M | ||||||||||||||
Debt | ||||||||||||||
TZS denominated (TZS/$) | Spot (+TZS250) | |||||||||||||
AUD denominated (AUD/$) | Spot (+AUD0.1) | (2) | ||||||||||||
Change in exchange rate | Change in borrowings Total | |||||||||||||
$M | ||||||||||||||
Debt | ||||||||||||||
TZS denominated (TZS/$) | Spot (-TZS250) | |||||||||||||
AUD denominated (AUD/$) | Spot (-AUD0.1) | 2 | ||||||||||||
Service | Fees (USD) | |||||||
Issuance of ADSs | Up to 5 cents per ADS | (1) | ||||||
Cancellation of ADSs | Up to 5 cents per ADS | (1) | ||||||
Distribution of cash dividends or other cash distributions | Up to 2 cents per ADS | (2) | ||||||
Distribution of securities pursuant to | ||||||||
(i) stock dividends, free stock distributions or | ||||||||
(ii) exercises of rights to purchase additional ADSs | Up to 5 cents per ADS | (2) | ||||||
ADR Depositary Services fee | Up to 2 cents per year | (2) |
2020 | 2019 | ||||||||||
(in millions) | $ | $ | |||||||||
Audit fees(1) | 6.02 | 5.77 | |||||||||
Audit-related fees(2) | 1.80 | 1.14 | |||||||||
Tax fees(3) | 0.32 | 0.07 | |||||||||
All other fees(4) | 0.01 | 0.09 | |||||||||
Total | 8.15 | 7.07 |
2022 | 2021 | ||||||||||
(in millions) | $ | $ | |||||||||
Audit fees(1) | 6.45 | 5.87 | |||||||||
Audit-related fees(2) | 1.91 | 2.10 | |||||||||
Tax fees(3) | 0.22 | 0.03 | |||||||||
All other fees(4) | 0.02 | 0.01 | |||||||||
Total | 8.60 | 8.01 |
The Company used a probability weighted discounted cash flow model to measure the deferred compensation. The significant inputs and assumptions used in each scenario of the discounted cash flow model, included the production plan over the agreed upon period and the weighted average cost of capital (WACC). The determination of the fair value of the deferred compensation involved complex auditor judgment, due to the subjectivity of these significant assumptions and inputs, as well as the weighted probabilities and required the inclusion of specialists on our team. | |||||
We read the executed sale agreement to obtain an understanding of the structure of the sale and the deferred compensation, including an assessment of whether all conditions precedent to the sale were met at the effective date of the transaction. We recalculated the loss on disposal, which included the deferred compensation component made up of various judgements around the production plan per year, applicable discount rates for the agreed upon period and the relative weightings attached to each scenario. For the discount rate, with the support of our valuation specialists, we assessed management’s WACC by comparing it to our independently calculated WACC. For the production plan, we compared the plan to the previous production profiles developed by the Company and analysed the actual production versus that contained in the production plan underlying each scenario. We evaluated the weighted probabilities assigned to each scenario by considering the Company’s historical and year to date production and any available published information from the buyer, regarding its estimated production plan. We evaluated the related disclosures in the consolidated financial statements. |
Description of the | |||||
Geita VAT recoverability | |||||
As disclosed in Note The In the current year, new correspondence and information was received from the TRA The Government of Tanzania and Geita Gold Mine (GGM). Auditing | |||||
How We Addressed the Matter in Our Audit | Our procedures to address this matter included, among others, obtaining an understanding, evaluating the design and testing the operating effectiveness of controls over the Company’s assessment of tax law and the process to estimate the recoverability of the VAT receivable. We read correspondence between management As part of our audit procedures, we met with management to understand their strategy to resolve the matter and obtain an update on progress made and discussions that took place with the relevant parties during the year. We also assessed whether the draft agreements exchanged with the Government of Tanzania were consistent with management’s stated strategy to fully recover the carrying value of the receivables. We read the external legal counsel opinions obtained by management to support their interpretation of the tax legislation manner undertaken or proposed by the Company. We involved our tax professionals We We evaluated management’s assessment of the various scenarios in the model, by performing a sensitivity analysis, taking into account alternative weighting probability scenarios. We |
Description of the Matter | |||||
At 31 December The Company incurs obligations to close, restore and rehabilitate its mine sites. Auditing the The consolidated disclosures are included in Note 1.2 and Note | |||||
How We Addressed the Matter in Our Audit | Our procedures to address this matter included, among others, obtaining an understanding, evaluating the design and testing the operating effectiveness of controls over the With the support of our valuation specialists, we assessed management’s macro-economic assumptions in their rehabilitation models by comparing them to available market information. The most significant of these macro-economic assumptions were the risk-free interest rates, expected inflation and exchange rates. To assess the rehabilitation models prepared by management, among other procedures, we tested the mathematical accuracy With the support of our environmental specialists, we inquired of operational management whether additional environmental | ||||
Description of the Matter | Impairment assessment of AGA Mineração | ||||
As described in Notes 1.2 and 13 to the consolidated financial statements, the Group conducts an impairment test whenever events or changes in circumstances indicate that the carrying amount for a cash generating unit (“CGU”) may not be recoverable. An impairment loss is recognised in the income statement for the amount by which the asset’s carrying amount exceeds its recoverable amount. During the year, the AGA Mineração CGU was disaggregated into two separate CGUs, namely Córrego do Sítio (CdS) and Cuiabá, following management’s reinvestment strategy to assess strategic options for CdS, as a result of the continued underperformance of the CdS complex. Further and in December 2022, processing of gold concentrate at the Queiroz plant which services the Cuiabá mine complex was suspended. These events were impairment indicators, which required the Group to conduct an impairment test on these CGUs. A gross impairment of $189 million for CdS and $70 million for Cuiabá was recorded for the year ended 31 December 2022. Auditing the assessment of the recoverable amount of these CGUs involved significant auditor judgment, since there are a number of forward looking and other assumptions that require significant estimation, including the extent of economic mineral resource and reserve and associated life of mine plans, discount rate, future gold prices, foreign exchange rates and specifically for Cuiaba, the probability weighted discounted cash flows including the period of suspension of operations at the Queiroz plant due to the completion of structural improvements, as well as the application of judgment around the disaggregation of the AGA Mineração CGU into two CGUs. |
How We | Our procedures to address this matter included, among others, obtaining an understanding, evaluating the design and testing the operating effectiveness of controls over the Company’s impairment trigger assessment and the preparation, review and approval of the impairment calculation. For example, we evaluated management’s methods, processes and controls determining the carrying values, and the associated recoverable amounts of each CGU. We assessed management’s disaggregation of the CGUs by, among other procedures, reference to whether an active market exists for the output produced by each CGU. With the support of our We also involved our valuation specialists to evaluate the discount rate, by independently calculating a discount rate range using available market information and comparing to management’s discount rate. In addition, we performed sensitivity analyses to evaluate the impact of reasonably possible changes in the key assumptions including discount rate, future gold prices and for Cuiabá, the impact of delay in the net cash flows due to possible delays in the projected timelines of completion of structural improvements. To assess the cash flow models prepared by management, among other procedures, we tested the mathematical accuracy and compared relevant data therein to To test management’s assessment of the We compared our results to We assessed the adequacy of |
2020 | 2019 | 2018 | ||||||||||||||||||||||||||||||||||||||
Figures in millions | Figures in millions | Notes | Figures in millions | Notes | 2022 | 2021 | 2020 | |||||||||||||||||||||||||||||||||
Restated (1) | ||||||||||||||||||||||||||||||||||||||||
US Dollars | US Dollars | |||||||||||||||||||||||||||||||||||||||
Continuing operations | Continuing operations | Continuing operations | ||||||||||||||||||||||||||||||||||||||
Revenue from product sales | Revenue from product sales | 3 | 4,427 | 3,525 | 3,336 | Revenue from product sales | 3 | 4,501 | 4,029 | 4,595 | ||||||||||||||||||||||||||||||
Cost of sales | Cost of sales | 4 | (2,699) | (2,626) | (2,584) | Cost of sales | 4 | (3,362) | (2,857) | (2,829) | ||||||||||||||||||||||||||||||
(Loss) gain on non-hedge derivatives and other commodity contracts | (Loss) gain on non-hedge derivatives and other commodity contracts | (19) | 5 | (2) | (Loss) gain on non-hedge derivatives and other commodity contracts | (6) | — | (19) | ||||||||||||||||||||||||||||||||
Gross profit | Gross profit | 2 | 1,709 | 904 | 750 | Gross profit | 2 | 1,133 | 1,172 | 1,747 | ||||||||||||||||||||||||||||||
Corporate administration, marketing and other expenses | 5 | (68) | (82) | (76) | ||||||||||||||||||||||||||||||||||||
Corporate administration, marketing and related expenses | Corporate administration, marketing and related expenses | (79) | (73) | (68) | ||||||||||||||||||||||||||||||||||||
Exploration and evaluation costs | Exploration and evaluation costs | (124) | (112) | (98) | Exploration and evaluation costs | (205) | (164) | (124) | ||||||||||||||||||||||||||||||||
Impairment, derecognition of assets and profit (loss) on disposal | Impairment, derecognition of assets and profit (loss) on disposal | (1) | (6) | (7) | Impairment, derecognition of assets and profit (loss) on disposal | (304) | 11 | (1) | ||||||||||||||||||||||||||||||||
Other (expenses) income | Other (expenses) income | 6 | (57) | (83) | (79) | Other (expenses) income | 5 | (26) | (136) | (57) | ||||||||||||||||||||||||||||||
Operating profit | Operating profit | 1,459 | 621 | 490 | Operating profit | 519 | 810 | 1,497 | ||||||||||||||||||||||||||||||||
Interest income | Interest income | 27 | 14 | 8 | Interest income | 81 | 58 | 27 | ||||||||||||||||||||||||||||||||
Dividend received | Dividend received | 2 | 0 | 2 | Dividend received | — | — | 2 | ||||||||||||||||||||||||||||||||
Foreign exchange and other gains (losses) | 0 | (12) | (9) | |||||||||||||||||||||||||||||||||||||
Foreign exchange and fair value adjustments | Foreign exchange and fair value adjustments | (128) | (43) | — | ||||||||||||||||||||||||||||||||||||
Finance costs and unwinding of obligations | Finance costs and unwinding of obligations | 7 | (177) | (172) | (168) | Finance costs and unwinding of obligations | 6 | (149) | (116) | (177) | ||||||||||||||||||||||||||||||
Share of associates and joint ventures’ profit (loss) | 8 | 278 | 168 | 122 | ||||||||||||||||||||||||||||||||||||
Profit (loss) before taxation | 1,589 | 619 | 445 | |||||||||||||||||||||||||||||||||||||
Share of associates and joint ventures’ profit | Share of associates and joint ventures’ profit | 7 | 166 | 249 | 278 | |||||||||||||||||||||||||||||||||||
Profit before taxation | Profit before taxation | 489 | 958 | 1,627 | ||||||||||||||||||||||||||||||||||||
Taxation | Taxation | 12 | (625) | (250) | (212) | Taxation | 10 | (173) | (312) | (625) | ||||||||||||||||||||||||||||||
Profit (loss) after taxation from continuing operations | 964 | 369 | 233 | |||||||||||||||||||||||||||||||||||||
Profit after taxation from continuing operations | Profit after taxation from continuing operations | 316 | 646 | 1,002 | ||||||||||||||||||||||||||||||||||||
Discontinued operations | Discontinued operations | Discontinued operations | ||||||||||||||||||||||||||||||||||||||
Profit (loss) from discontinued operations | Profit (loss) from discontinued operations | 9 | 7 | (376) | (83) | Profit (loss) from discontinued operations | — | — | 7 | |||||||||||||||||||||||||||||||
Profit (loss) for the year | Profit (loss) for the year | 971 | (7) | 150 | Profit (loss) for the year | 316 | 646 | 1,009 | ||||||||||||||||||||||||||||||||
Allocated as follows: | Allocated as follows: | Allocated as follows: | ||||||||||||||||||||||||||||||||||||||
Equity shareholders | Equity shareholders | Equity shareholders | ||||||||||||||||||||||||||||||||||||||
- Continuing operations | - Continuing operations | 946 | 364 | 216 | - Continuing operations | 297 | 622 | 984 | ||||||||||||||||||||||||||||||||
- Discontinued operations | - Discontinued operations | 7 | (376) | (83) | - Discontinued operations | — | — | 7 | ||||||||||||||||||||||||||||||||
Non-controlling interests | Non-controlling interests | Non-controlling interests | ||||||||||||||||||||||||||||||||||||||
- Continuing operations | - Continuing operations | 18 | 5 | 17 | - Continuing operations | 19 | 24 | 18 | ||||||||||||||||||||||||||||||||
971 | (7) | 150 | 316 | 646 | 1,009 | |||||||||||||||||||||||||||||||||||
Basic earnings (loss) per ordinary share (cents) | Basic earnings (loss) per ordinary share (cents) | 13 | 227 | (3) | 32 | Basic earnings (loss) per ordinary share (cents) | 11 | 71 | 148 | 236 | ||||||||||||||||||||||||||||||
Earnings (loss) per ordinary share from continuing operations | 225 | 87 | 52 | |||||||||||||||||||||||||||||||||||||
Earnings per ordinary share from continuing operations | Earnings per ordinary share from continuing operations | 71 | 148 | 234 | ||||||||||||||||||||||||||||||||||||
Earnings (loss) per ordinary share from discontinued operations | Earnings (loss) per ordinary share from discontinued operations | 2 | (90) | (20) | Earnings (loss) per ordinary share from discontinued operations | — | — | 2 | ||||||||||||||||||||||||||||||||
Diluted earnings (loss) per ordinary share (cents) | Diluted earnings (loss) per ordinary share (cents) | 13 | 227 | (3) | 32 | Diluted earnings (loss) per ordinary share (cents) | 11 | 71 | 148 | 236 | ||||||||||||||||||||||||||||||
Earnings (loss) per ordinary share from continuing operations | 225 | 87 | 52 | |||||||||||||||||||||||||||||||||||||
Earnings per ordinary share from continuing operations | Earnings per ordinary share from continuing operations | 71 | 148 | 234 | ||||||||||||||||||||||||||||||||||||
Earnings (loss) per ordinary share from discontinued operations | Earnings (loss) per ordinary share from discontinued operations | 2 | (90) | (20) | Earnings (loss) per ordinary share from discontinued operations | — | — | 2 |
Figures in millions | 2020 | 2019 | 2018 | ||||||||||||||||||||
Restated | Restated | ||||||||||||||||||||||
US Dollars | |||||||||||||||||||||||
Profit (loss) for the year | 971 | (7) | 150 | ||||||||||||||||||||
Items that will be reclassified subsequently to profit or loss: | 38 | 0 | (50) | ||||||||||||||||||||
Exchange differences on translation of foreign operations (1) | 38 | 0 | (50) | ||||||||||||||||||||
Items that will not be reclassified subsequently to profit or loss: | 86 | 14 | (91) | ||||||||||||||||||||
Exchange differences on translation of non-foreign operations (1) | (16) | 4 | (100) | ||||||||||||||||||||
Net gain (loss) on equity investments | 98 | 6 | 9 | ||||||||||||||||||||
Actuarial gain (loss) recognised | 10 | 2 | 5 | ||||||||||||||||||||
Deferred taxation thereon | (6) | 2 | (5) | ||||||||||||||||||||
Other comprehensive income (loss) for the year, net of tax | 124 | 14 | (141) | ||||||||||||||||||||
Total comprehensive income (loss) for the year, net of tax | 1,095 | 7 | 9 | ||||||||||||||||||||
Allocated as follows: | |||||||||||||||||||||||
Equity shareholders | |||||||||||||||||||||||
- Continuing operations | 1,121 | 378 | 75 | ||||||||||||||||||||
- Discontinued operations | (44) | (376) | (83) | ||||||||||||||||||||
Non-controlling interests | |||||||||||||||||||||||
- Continuing operations | 18 | 5 | 17 | ||||||||||||||||||||
1,095 | 7 | 9 |
Figures in millions | 2022 | 2021 | 2020 | |||||||||||||||||
Restated (1) | ||||||||||||||||||||
US Dollars | ||||||||||||||||||||
Profit (loss) for the year | 316 | 646 | 1,009 | |||||||||||||||||
Items that will be reclassified subsequently to profit or loss: | (27) | (22) | 38 | |||||||||||||||||
Exchange differences on translation of foreign operations | (27) | (22) | 38 | |||||||||||||||||
Items that will not be reclassified subsequently to profit or loss: | (47) | (83) | 86 | |||||||||||||||||
Exchange differences on translation of non-foreign operations | (1) | (3) | (16) | |||||||||||||||||
Net (loss) gain on equity investments | (50) | (73) | 98 | |||||||||||||||||
Actuarial (loss) gain recognised | (10) | (1) | 10 | |||||||||||||||||
Deferred taxation thereon | 14 | (6) | (6) | |||||||||||||||||
Other comprehensive (loss) income for the year, net of tax | (74) | (105) | 124 | |||||||||||||||||
Total comprehensive income for the year, net of tax | 242 | 541 | 1,133 | |||||||||||||||||
Allocated as follows: | ||||||||||||||||||||
Equity shareholders | ||||||||||||||||||||
- Continuing operations | 223 | 517 | 1,159 | |||||||||||||||||
- Discontinued operations | — | — | (44) | |||||||||||||||||
Non-controlling interests | ||||||||||||||||||||
- Continuing operations | 19 | 24 | 18 | |||||||||||||||||
242 | 541 | 1,133 |
Figures in millions | Notes | 2020 | 2019 | 2018 | ||||||||||||||||
US Dollars | ||||||||||||||||||||
ASSETS | ||||||||||||||||||||
Non-current assets | ||||||||||||||||||||
Tangible assets | 15 | 2,884 | 2,592 | 3,381 | ||||||||||||||||
Right of use assets | 16 | 142 | 158 | |||||||||||||||||
Intangible assets | 17 | 131 | 123 | 123 | ||||||||||||||||
Investments in associates and joint ventures | 19 | 1,651 | 1,581 | 1,528 | ||||||||||||||||
Other investments | 20 | 188 | 76 | 141 | ||||||||||||||||
Inventories | 21 | 69 | 93 | 106 | ||||||||||||||||
Trade, other receivables and other assets | 22 | 235 | 122 | 102 | ||||||||||||||||
Deferred taxation | 29 | 7 | 105 | 0 | ||||||||||||||||
Cash restricted for use | 23 | 31 | 31 | 35 | ||||||||||||||||
5,338 | 4,881 | 5,416 | ||||||||||||||||||
Current assets | ||||||||||||||||||||
Other investments | 20 | 0 | 10 | 6 | ||||||||||||||||
Inventories | 21 | 733 | 632 | 652 | ||||||||||||||||
Trade, other receivables and other assets | 22 | 229 | 250 | 209 | ||||||||||||||||
Cash restricted for use | 23 | 42 | 33 | 31 | ||||||||||||||||
Cash and cash equivalents | 24 | 1,330 | 456 | 329 | ||||||||||||||||
2,334 | 1,381 | 1,227 | ||||||||||||||||||
Assets held for sale | 9 | 0 | 601 | 0 | ||||||||||||||||
2,334 | 1,982 | 1,227 | ||||||||||||||||||
Total assets | 7,672 | 6,863 | 6,643 | |||||||||||||||||
EQUITY AND LIABILITIES | ||||||||||||||||||||
Share capital and premium | 25 | 7,214 | 7,199 | 7,171 | ||||||||||||||||
Accumulated losses and other reserves | (3,519) | (4,559) | (4,519) | |||||||||||||||||
Shareholders’ equity | 3,695 | 2,640 | 2,652 | |||||||||||||||||
Non-controlling interests | 45 | 36 | 42 | |||||||||||||||||
Total equity | 3,740 | 2,676 | 2,694 | |||||||||||||||||
Non-current liabilities | ||||||||||||||||||||
Borrowings | 26 | 1,789 | 1,299 | 1,911 | ||||||||||||||||
Lease liabilities | 16 | 116 | 126 | |||||||||||||||||
Environmental rehabilitation and other provisions | 27 | 731 | 697 | 827 | ||||||||||||||||
Provision for pension and post-retirement benefits | 28 | 83 | 100 | 100 | ||||||||||||||||
Trade, other payables and provisions | 30 | 8 | 15 | 3 | ||||||||||||||||
Deferred taxation | 29 | 246 | 241 | 315 | ||||||||||||||||
2,973 | 2,478 | 3,156 | ||||||||||||||||||
Current liabilities | ||||||||||||||||||||
Borrowings | 26 | 142 | 734 | 139 | ||||||||||||||||
Lease liabilities | 16 | 37 | 45 | |||||||||||||||||
Trade, other payables and provisions | 30 | 627 | 586 | 594 | ||||||||||||||||
Taxation | 31 | 153 | 72 | 60 | ||||||||||||||||
959 | 1,437 | 793 | ||||||||||||||||||
Liabilities held for sale | 9 | 0 | 272 | 0 | ||||||||||||||||
959 | 1,709 | 793 | ||||||||||||||||||
Total liabilities | 3,932 | 4,187 | 3,949 | |||||||||||||||||
Total equity and liabilities | 7,672 | 6,863 | 6,643 |
Figures in millions | Notes | 2022 | 2021 | 2020 | ||||||||||||||||
Restated (1) | Restated (1) | |||||||||||||||||||
US Dollars | ||||||||||||||||||||
ASSETS | ||||||||||||||||||||
Non-current assets | ||||||||||||||||||||
Tangible assets | 13 | 4,209 | 3,493 | 2,917 | ||||||||||||||||
Right of use assets | 14 | 156 | 175 | 142 | ||||||||||||||||
Intangible assets | 15 | 106 | 122 | 131 | ||||||||||||||||
Investments in associates and joint ventures | 17 | 1,100 | 1,647 | 1,651 | ||||||||||||||||
Other investments | 18 | 3 | 117 | 188 | ||||||||||||||||
Inventories | 19 | 5 | 27 | 69 | ||||||||||||||||
Trade, other receivables and other assets | 20 | 231 | 237 | 235 | ||||||||||||||||
Reimbursive right for post-retirement benefits | 26 | 12 | — | — | ||||||||||||||||
Deferred taxation | 27 | 72 | 7 | 7 | ||||||||||||||||
Cash restricted for use | 21 | 33 | 32 | 31 | ||||||||||||||||
5,927 | 5,857 | 5,371 | ||||||||||||||||||
Current assets | ||||||||||||||||||||
Inventories | 19 | 773 | 703 | 733 | ||||||||||||||||
Trade, other receivables and other assets | 20 | 237 | 260 | 229 | ||||||||||||||||
Cash restricted for use | 21 | 27 | 26 | 42 | ||||||||||||||||
Cash and cash equivalents | 22 | 1,108 | 1,154 | 1,330 | ||||||||||||||||
2,145 | 2,143 | 2,334 | ||||||||||||||||||
Total assets | 8,072 | 8,000 | 7,705 | |||||||||||||||||
EQUITY AND LIABILITIES | ||||||||||||||||||||
Share capital and premium | 23 | 7,239 | 7,223 | 7,214 | ||||||||||||||||
Accumulated losses and other reserves | (3,139) | (3,181) | (3,486) | |||||||||||||||||
Shareholders’ equity | 4,100 | 4,042 | 3,728 | |||||||||||||||||
Non-controlling interests | 34 | 52 | 45 | |||||||||||||||||
Total equity | 4,134 | 4,094 | 3,773 | |||||||||||||||||
Non-current liabilities | ||||||||||||||||||||
Borrowings | 24 | 1,965 | 1,858 | 1,789 | ||||||||||||||||
Lease liabilities | 14 | 102 | 124 | 116 | ||||||||||||||||
Environmental rehabilitation and other provisions | 25 | 634 | 729 | 731 | ||||||||||||||||
Provision for pension and post-retirement benefits | 26 | 71 | 77 | 83 | ||||||||||||||||
Trade, other payables and provisions | 28 | 7 | 7 | 8 | ||||||||||||||||
Deferred taxation | 27 | 300 | 313 | 246 | ||||||||||||||||
3,079 | 3,108 | 2,973 | ||||||||||||||||||
Current liabilities | ||||||||||||||||||||
Borrowings | 24 | 18 | 51 | 142 | ||||||||||||||||
Lease liabilities | 14 | 84 | 61 | 37 | ||||||||||||||||
Trade, other payables and provisions | 28 | 710 | 647 | 627 | ||||||||||||||||
Bank overdraft | 2 | — | — | |||||||||||||||||
Taxation | 29 | 45 | 39 | 153 | ||||||||||||||||
859 | 798 | 959 | ||||||||||||||||||
Total liabilities | 3,938 | 3,906 | 3,932 | |||||||||||||||||
Total equity and liabilities | 8,072 | 8,000 | 7,705 |
Figures in millions | Notes | 2022 | 2021 | 2020 | ||||||||||||||||
Restated (1) | ||||||||||||||||||||
US Dollars | ||||||||||||||||||||
Cash flows from operating activities | ||||||||||||||||||||
Receipts from customers | 4,517 | 4,054 | 4,580 | |||||||||||||||||
Payments to suppliers and employees | (3,273) | (2,701) | (2,714) | |||||||||||||||||
Cash generated from operations | 30 | 1,244 | 1,353 | 1,866 | ||||||||||||||||
Dividends received from joint ventures | 694 | 231�� | 148 | |||||||||||||||||
Taxation refund | 29 | 32 | 20 | — | ||||||||||||||||
Taxation paid | 29 | (166) | (336) | (431) | ||||||||||||||||
Net cash inflow (outflow) from operating activities from continuing operations | 1,804 | 1,268 | 1,583 | |||||||||||||||||
Net cash inflow (outflow) from operating activities from discontinued operations | — | — | 109 | |||||||||||||||||
Net cash inflow (outflow) from operating activities | 1,804 | 1,268 | 1,692 | |||||||||||||||||
Cash flows from investing activities | ||||||||||||||||||||
Capital expenditure | ||||||||||||||||||||
- project capital | 13 | (378) | (392) | (369) | ||||||||||||||||
- stay-in-business capital | 13 | (650) | (635) | (370) | ||||||||||||||||
Interest capitalised and paid | (2) | (14) | (17) | |||||||||||||||||
Acquisition of assets | 13 | (517) | — | — | ||||||||||||||||
Acquisition of intangible assets | — | (1) | (1) | |||||||||||||||||
Dividends from associates and other investments | 18 | 22 | 9 | |||||||||||||||||
Proceeds from disposal of tangible assets | 8 | 25 | 3 | |||||||||||||||||
Other investments and assets acquired | (16) | (4) | (8) | |||||||||||||||||
Proceeds from disposal of other investments | — | — | 9 | |||||||||||||||||
Proceeds from disposal of joint ventures | — | 2 | 26 | |||||||||||||||||
Loans advanced | (1) | (15) | — | |||||||||||||||||
Loans repaid by associates and joint ventures | — | — | 12 | |||||||||||||||||
Recognition of joint operation - cash | — | — | 2 | |||||||||||||||||
Proceeds from disposal of discontinued assets and subsidiaries | — | — | 200 | |||||||||||||||||
Decrease (increase) in cash restricted for use | (4) | 14 | (9) | |||||||||||||||||
Interest received | 81 | 58 | 27 | |||||||||||||||||
Net cash inflow (outflow) from investing activities from continuing operations | (1,461) | (940) | (486) | |||||||||||||||||
Net cash outflow from investing activities from discontinued operations | — | — | (31) | |||||||||||||||||
Cash in subsidiaries sold and transferred to held for sale | — | — | 3 | |||||||||||||||||
Net cash inflow (outflow) from investing activities | (1,461) | (940) | (514) | |||||||||||||||||
Cash flows from financing activities | ||||||||||||||||||||
Proceeds from borrowings | 24 | 266 | 822 | 2,226 | ||||||||||||||||
Repayment of borrowings | 24 | (184) | (820) | (2,310) | ||||||||||||||||
Repayment of lease liabilities | 14 | (82) | (63) | (47) | ||||||||||||||||
Finance costs - borrowings | 24 | (99) | (111) | (110) | ||||||||||||||||
Finance costs - leases | 14 | (10) | (9) | (8) | ||||||||||||||||
Other borrowing costs | (11) | (35) | (33) | |||||||||||||||||
Dividends paid | (203) | (240) | (47) | |||||||||||||||||
Net cash outflow from financing activities from continuing operations | (323) | (456) | (329) | |||||||||||||||||
Net increase (decrease) in cash and cash equivalents | 20 | (128) | 849 | |||||||||||||||||
Translation | (68) | (48) | 25 | |||||||||||||||||
Cash and cash equivalents at beginning of year | 1,154 | 1,330 | 456 | |||||||||||||||||
Cash and cash equivalents at end of year (2) | 22 | 1,106 | 1,154 | 1,330 |
Figures in millions | Notes | 2020 | 2019 | 2018 | ||||||||||||||||
US Dollars | ||||||||||||||||||||
Cash flows from operating activities | ||||||||||||||||||||
Receipts from customers | 4,411 | 3,535 | 3,339 | |||||||||||||||||
Payments to suppliers and employees | (2,583) | (2,433) | (2,408) | |||||||||||||||||
Cash generated from operations | 32 | 1,828 | 1,102 | 931 | ||||||||||||||||
Dividends received from joint ventures | 148 | 77 | 91 | |||||||||||||||||
Taxation refund | 31 | 0 | 7 | 5 | ||||||||||||||||
Taxation paid | 31 | (431) | (228) | (171) | ||||||||||||||||
Net cash inflow (outflow) from operating activities from continuing operations | 1,545 | 958 | 856 | |||||||||||||||||
Net cash inflow (outflow) from operating activities from discontinued operations | 109 | 89 | 1 | |||||||||||||||||
Net cash inflow (outflow) from operating activities | 1,654 | 1,047 | 857 | |||||||||||||||||
Cash flows from investing activities | ||||||||||||||||||||
Capital expenditure | ||||||||||||||||||||
- project capital | (331) | (336) | (170) | |||||||||||||||||
- stay-in-business capital | (370) | (367) | (405) | |||||||||||||||||
Interest capitalised and paid | (17) | (6) | 0 | |||||||||||||||||
Acquisition of intangible assets | (1) | 0 | 0 | |||||||||||||||||
Dividends from other investments | 9 | 0 | 2 | |||||||||||||||||
Proceeds from disposal of tangible assets | 3 | 3 | 10 | |||||||||||||||||
Other investments acquired | (8) | (9) | (13) | |||||||||||||||||
Proceeds from disposal of other investments | 9 | 3 | 7 | |||||||||||||||||
Investments in associates and joint ventures | 0 | (5) | (8) | |||||||||||||||||
Proceeds from disposal of joint ventures | 26 | 0 | 0 | |||||||||||||||||
Loans advanced to associates and joint ventures | 0 | (3) | (5) | |||||||||||||||||
Loans repaid by associates and joint ventures | 12 | 23 | 22 | |||||||||||||||||
Recognition of joint operation - cash | 2 | 0 | 0 | |||||||||||||||||
Proceeds from disposal of discontinued assets and subsidiaries | 200 | 0 | 0 | |||||||||||||||||
Decrease (increase) in cash restricted for use | (9) | 0 | (6) | |||||||||||||||||
Interest received | 27 | 14 | 5 | |||||||||||||||||
Net cash inflow (outflow) from investing activities from continuing operations | (448) | (683) | (561) | |||||||||||||||||
Net cash inflow (outflow) from investing activities from discontinued operations | (31) | (54) | 226 | |||||||||||||||||
Cash in subsidiaries sold and transferred to held for sale | 3 | (6) | 0 | |||||||||||||||||
Net cash inflow (outflow) from investing activities | (476) | (743) | (335) | |||||||||||||||||
Cash flows from financing activities | ||||||||||||||||||||
Proceeds from borrowings | 2,226 | 168 | 753 | |||||||||||||||||
Repayment of borrowings | (2,310) | (123) | (967) | |||||||||||||||||
Repayment of lease liabilities | (47) | (42) | ||||||||||||||||||
Finance costs - borrowings | 26 | (110) | (128) | (130) | ||||||||||||||||
Finance costs - leases | (8) | (9) | ||||||||||||||||||
Other borrowing costs | (33) | 0 | (10) | |||||||||||||||||
Dividends paid | (47) | (43) | (39) | |||||||||||||||||
Net cash inflow (outflow) from financing activities from continuing operations | (329) | (177) | (393) | |||||||||||||||||
Net cash inflow (outflow) from financing activities from discontinued operations | 0 | 0 | 0 | |||||||||||||||||
Net cash inflow (outflow) from financing activities | (329) | (177) | (393) | |||||||||||||||||
Net increase (decrease) in cash and cash equivalents | 849 | 127 | 129 | |||||||||||||||||
Translation | 25 | 0 | (5) | |||||||||||||||||
Cash and cash equivalents at beginning of year | 456 | 329 | 205 | |||||||||||||||||
Cash and cash equivalents at end of year | 24 | 1,330 | 456 | 329 |
Equity holders of the parent | Equity holders of the parent | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Figures in millions | Figures in millions | Share capital and premium | Other capital reserves(1) | Retained earnings (Accumulated losses)(2) | Fair value through OCI | Actuarial gains (losses) | Foreign currency translation reserve (3) | Total | Non- controlling interests | Total equity | Figures in millions | Share capital and premium | Other capital reserves(2) | Retained earnings (Accumulated losses)(1) | Fair value through OCI | Actuarial gains (losses) | Foreign currency translation reserve (3) | Total | Non- controlling interests | Total equity | ||||||||||||||||||||||||||||||||||||||||||||
US Dollars | US Dollars | US Dollars | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance at 31 December 2017 | 7,134 | 124 | (3,349) | 33 | (16) | (1,263) | 2,663 | 41 | 2,704 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance at 31 December 2019 Restated | Balance at 31 December 2019 Restated | 7,199 | 83 | (3,273) | 45 | (10) | (1,409) | 2,635 | 36 | 2,671 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Profit (loss) for the year | Profit (loss) for the year | — | — | 133 | — | — | — | 133 | 17 | 150 | Profit (loss) for the year | — | — | 991 | — | — | — | 991 | 18 | 1,009 | ||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income (loss) | Other comprehensive income (loss) | — | — | — | 5 | 4 | (150) | (141) | — | (141) | Other comprehensive income (loss) | — | — | — | 92 | 10 | 22 | 124 | — | 124 | ||||||||||||||||||||||||||||||||||||||||||||
Total comprehensive income (loss) | Total comprehensive income (loss) | — | — | 133 | 5 | 4 | (150) | (8) | 17 | 9 | Total comprehensive income (loss) | — | — | 991 | 92 | 10 | 22 | 1,115 | 18 | 1,133 | ||||||||||||||||||||||||||||||||||||||||||||
Shares issued | Shares issued | 37 | — | — | — | — | — | 37 | — | 37 | Shares issued | 15 | — | — | — | — | — | 15 | — | 15 | ||||||||||||||||||||||||||||||||||||||||||||
Share-based payment for share awards net of exercised | Share-based payment for share awards net of exercised | — | (17) | — | — | — | — | (17) | — | (17) | Share-based payment for share awards net of exercised | — | (3) | — | — | — | — | (3) | — | (3) | ||||||||||||||||||||||||||||||||||||||||||||
Dividends paid (note 14) | — | — | (24) | — | — | — | (24) | — | (24) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends paid (note 12) | Dividends paid (note 12) | — | — | (38) | — | — | — | (38) | — | (38) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends of subsidiaries | Dividends of subsidiaries | — | — | — | — | — | — | — | (15) | (15) | Dividends of subsidiaries | — | — | — | — | — | — | — | (9) | (9) | ||||||||||||||||||||||||||||||||||||||||||||
Transfer of gain on disposal of equity investments | — | — | 1 | (1) | — | 0 | — | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Recognition of joint operation | Recognition of joint operation | 4 | 4 | 4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transfer on disposal and derecognition of equity investments | Transfer on disposal and derecognition of equity investments | — | — | 6 | (6) | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Translation | Translation | — | (11) | 12 | — | — | — | 1 | (1) | 0 | Translation | — | (3) | 2 | — | 1 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||
Balance at 31 December 2018 | 7,171 | 96 | (3,227) | 37 | (12) | (1,413) | 2,652 | 42 | 2,694 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance at 31 December 2020 Restated | Balance at 31 December 2020 Restated | 7,214 | 77 | (2,308) | 131 | 1 | (1,387) | 3,728 | 45 | 3,773 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Profit (loss) for the year | Profit (loss) for the year | — | — | (12) | — | — | — | (12) | 5 | (7) | Profit (loss) for the year | — | — | 622 | — | — | — | 622 | 24 | 646 | ||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income (loss) | Other comprehensive income (loss) | — | — | — | 8 | 2 | 4 | 14 | — | 14 | Other comprehensive income (loss) | — | — | — | (78) | (2) | (25) | (105) | — | (105) | ||||||||||||||||||||||||||||||||||||||||||||
Total comprehensive income (loss) | Total comprehensive income (loss) | — | — | (12) | 8 | 2 | 4 | 2 | 5 | 7 | Total comprehensive income (loss) | — | — | 622 | (78) | (2) | (25) | 517 | 24 | 541 | ||||||||||||||||||||||||||||||||||||||||||||
Shares issued | Shares issued | 28 | — | — | — | — | — | 28 | — | 28 | Shares issued | 9 | — | — | — | — | — | 9 | — | 9 | ||||||||||||||||||||||||||||||||||||||||||||
Share-based payment for share awards net of exercised | Share-based payment for share awards net of exercised | — | (10) | — | — | — | — | (10) | — | (10) | Share-based payment for share awards net of exercised | — | 11 | — | — | — | — | 11 | — | 11 | ||||||||||||||||||||||||||||||||||||||||||||
Dividends paid (note 14) | — | — | (27) | — | — | — | (27) | — | (27) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends paid (note 12) | Dividends paid (note 12) | — | — | (224) | — | — | — | (224) | — | (224) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends of subsidiaries | Dividends of subsidiaries | — | — | — | — | — | — | — | (16) | (16) | Dividends of subsidiaries | — | — | — | — | — | — | — | (16) | (16) | ||||||||||||||||||||||||||||||||||||||||||||
Transactions with non-controlling interests | — | (4) | — | — | — | — | (4) | 4 | 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Translation | Translation | — | 1 | (2) | — | — | — | (1) | 1 | 0 | Translation | — | (4) | 6 | — | (1) | — | 1 | (1) | — | ||||||||||||||||||||||||||||||||||||||||||||
Balance at 31 December 2019 | 7,199 | 83 | (3,268) | 45 | (10) | (1,409) | 2,640 | 36 | 2,676 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance at 31 December 2021 Restated | Balance at 31 December 2021 Restated | 7,223 | 84 | (1,904) | 53 | (2) | (1,412) | 4,042 | 52 | 4,094 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Profit (loss) for the year | Profit (loss) for the year | — | — | 953 | — | — | — | 953 | 18 | 971 | Profit (loss) for the year | 297 | 297 | 19 | 316 | |||||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income (loss) | Other comprehensive income (loss) | — | — | — | 92 | 10 | 22 | 124 | — | 124 | Other comprehensive income (loss) | (36) | (10) | (28) | (74) | (74) | ||||||||||||||||||||||||||||||||||||||||||||||||
Total comprehensive income (loss) | Total comprehensive income (loss) | — | — | 953 | 92 | 10 | 22 | 1,077 | 18 | 1,095 | Total comprehensive income (loss) | — | — | 297 | (36) | (10) | (28) | 223 | 19 | 242 | ||||||||||||||||||||||||||||||||||||||||||||
Shares issued | Shares issued | 15 | — | — | — | — | — | 15 | — | 15 | Shares issued | 16 | 16 | 16 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based payment for share awards net of exercised | — | (3) | — | — | — | — | (3) | — | (3) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends paid (note 14) | — | — | (38) | — | — | — | (38) | — | (38) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends paid (note 12) | Dividends paid (note 12) | — | — | (181) | — | — | — | (181) | — | (181) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends of subsidiaries | Dividends of subsidiaries | — | — | — | — | — | — | — | (9) | (9) | Dividends of subsidiaries | — | — | — | — | — | — | (37) | (37) | |||||||||||||||||||||||||||||||||||||||||||||
Recognition of joint operation | 4 | 4 | 4 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transfer on disposal and derecognition of equity investments | — | — | 6 | (6) | — | — | 0 | — | 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transfer on derecognition of equity investment | Transfer on derecognition of equity investment | — | — | 69 | (69) | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Translation | Translation | — | (3) | 2 | — | 1 | — | 0 | — | 0 | Translation | — | (3) | 4 | — | (1) | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||
Balance at 31 December 2020 | 7,214 | 77 | (2,341) | 131 | 1 | (1,387) | 3,695 | 45 | 3,740 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance at 31 December 2022 | Balance at 31 December 2022 | 7,239 | 81 | (1,715) | (52) | (13) | (1,440) | 4,100 | 34 | 4,134 |
2021 | 2020 | |||||||||||||||||||
US Dollar million | As previously reported | Adjustments | Restated | As previously reported | Adjustments | Restated | ||||||||||||||
Statement of financial position | ||||||||||||||||||||
Tangible assets (note 13) | 3,460 | 33 | 3,493 | 2,884 | 33 | 2,917 | ||||||||||||||
(Accumulated losses) and other reserves | (3,214) | 33 | (3,181) | (3,519) | 33 | (3,486) | ||||||||||||||
Income statement | ||||||||||||||||||||
Revenue from product sales (note 3) | 4,029 | — | 4,029 | 4,427 | 168 | 4,595 | ||||||||||||||
Cost of sales (note 4) | (2,857) | — | (2,857) | (2,699) | (130) | (2,829) | ||||||||||||||
Gross profit | 1,172 | — | 1,172 | 1,709 | 38 | 1,747 | ||||||||||||||
Operating profit | 810 | — | 810 | 1,459 | 38 | 1,497 | ||||||||||||||
Profit before taxation | 958 | — | 958 | 1,589 | 38 | 1,627 | ||||||||||||||
Profit after taxation from continuing operations | 646 | — | 646 | 964 | 38 | 1,002 | ||||||||||||||
Profit for the year | 646 | — | 646 | 971 | 38 | 1,009 | ||||||||||||||
Basic earnings per ordinary share (US cents) (1) (note 11) | 148 | — | 148 | 227 | 9 | 236 | ||||||||||||||
Basic earnings per ordinary share (US cents) from continuing operations (note 11) | 148 | — | 148 | 225 | 9 | 234 | ||||||||||||||
Diluted earnings per ordinary share (US cents) (1) (note 11) | 148 | — | 148 | 227 | 9 | 236 | ||||||||||||||
Diluted earnings per ordinary share (US cents) from continuing operations (note 11) | 148 | — | 148 | 225 | 9 | 234 | ||||||||||||||
Statement of Comprehensive Income | ||||||||||||||||||||
Profit for the year | 646 | — | 646 | 971 | 38 | 1,009 | ||||||||||||||
Total comprehensive income for the year | 541 | — | 541 | 1,095 | 38 | 1,133 | ||||||||||||||
Equity shareholders - Continuing operations | 517 | — | 517 | 1,121 | 38 | 1,159 | ||||||||||||||
Statement of changes in equity | ||||||||||||||||||||
Retained earnings (Accumulated losses) | (1,937) | 33 | (1,904) | (2,341) | 33 | (2,308) | ||||||||||||||
Statement of cash flows | ||||||||||||||||||||
Receipts from customers | 4,054 | — | 4,054 | 4,411 | 169 | 4,580 | ||||||||||||||
Payments to suppliers and employees | (2,701) | — | (2,701) | (2,583) | (131) | (2,714) | ||||||||||||||
Cash generated from operations (note 30) | 1,353 | — | 1,353 | 1,828 | 38 | 1,866 | ||||||||||||||
Net cash inflow from operating activities from continuing operations | 1,268 | — | 1,268 | 1,545 | 38 | 1,583 | ||||||||||||||
Net cash inflow from operating activities | 1,268 | — | 1,268 | 1,654 | 38 | 1,692 | ||||||||||||||
Capital expenditure - project capital (note 13) | (392) | — | (392) | (331) | (38) | (369) | ||||||||||||||
Net cash inflow from investing activities from continuing operations | (940) | — | (940) | (448) | (38) | (486) | ||||||||||||||
Net cash inflow from investing activities | (940) | — | (940) | (476) | (38) | (514) | ||||||||||||||
Other Disclosures | ||||||||||||||||||||
Basic headline earnings per share (note 11) | 146 | — | 146 | 238 | 10 | 248 | ||||||||||||||
Diluted headline earnings per share (note 11) | 146 | — | 146 | 238 | 9 | 247 | ||||||||||||||
Figures in millions | 2019 | 2018 | ||||||||||||||||||
US Dollars | As previously reported | Adjustments | Restated | As previously reported | Adjustments | Restated | ||||||||||||||
Profit (loss) for the period | (7) | 0 | (7) | 150 | 0 | 150 | ||||||||||||||
Items that will be reclassified subsequently to profit or loss: | ||||||||||||||||||||
Exchange differences on translation of foreign operations | 4 | (4) | 0 | (150) | 100 | (50) | ||||||||||||||
Items that will not be reclassified subsequently to profit or loss: | 10 | 4 | 14 | 9 | (100) | (91) | ||||||||||||||
Exchange differences on translation of non-foreign operations | 0 | 4 | 4 | 0 | (100) | (100) | ||||||||||||||
Net gain on equity investments | 6 | 0 | 6 | 9 | 0 | 9 | ||||||||||||||
Actuarial gain recognised | 2 | 0 | 2 | 5 | 0 | 5 | ||||||||||||||
Deferred taxation thereon | 2 | 0 | 2 | (5) | 0 | (5) | ||||||||||||||
Other comprehensive (loss) income for the period, net of tax | 14 | 0 | 14 | (141) | 0 | (141) | ||||||||||||||
Total comprehensive income (loss) for the period, net of tax | 7 | 0 | 7 | 9 | 0 | 9 | ||||||||||||||
Figures in millions | Gold income | ||||||||||||||||
US Dollars | 2020 | 2019 | 2018 | ||||||||||||||
Geographical analysis of gold income by origin is as follows: | |||||||||||||||||
Africa(1) | 2,769 | 2,203 | 1,983 | ||||||||||||||
Australia | 989 | 851 | 780 | ||||||||||||||
Americas | 1,211 | 1,000 | 1,021 | ||||||||||||||
4,969 | 4,054 | 3,784 | |||||||||||||||
Equity-accounted joint ventures included above | (647) | (615) | (581) | ||||||||||||||
Continuing operations | 4,322 | 3,439 | 3,203 | ||||||||||||||
Discontinued operations - South Africa | 408 | 554 | 602 | ||||||||||||||
4,730 | 3,993 | 3,805 | |||||||||||||||
Foreign countries included in the above and considered material are: | |||||||||||||||||
Australia | 989 | 851 | 780 | ||||||||||||||
Argentina | 0 | 0 | 387 | ||||||||||||||
Brazil | 853 | 679 | 0 | ||||||||||||||
Ghana | 536 | 0 | 0 | ||||||||||||||
Tanzania | 1,133 | 849 | 715 | ||||||||||||||
DRC | 647 | 504 | 468 | ||||||||||||||
Geographical analysis of gold income by destination is as follows: | |||||||||||||||||
South Africa | 943 | 981 | 946 | ||||||||||||||
North America | 580 | 486 | 450 | ||||||||||||||
South America | 1 | 0 | 0 | ||||||||||||||
Australia | 989 | 851 | 780 | ||||||||||||||
Europe | 358 | 329 | 387 | ||||||||||||||
United Kingdom | 2,098 | 1,407 | 1,221 | ||||||||||||||
4,969 | 4,054 | 3,784 | |||||||||||||||
Equity-accounted joint ventures included above | (647) | (615) | (581) | ||||||||||||||
Continuing operations | 4,322 | 3,439 | 3,203 | ||||||||||||||
Discontinued operations - South Africa | 408 | 554 | 602 | ||||||||||||||
Continuing and discontinued operations | 4,730 | 3,993 | 3,805 | ||||||||||||||
Figures in millions | By product revenue | ||||||||||||||||
US Dollars | 2020 | 2019 | 2018 | ||||||||||||||
Africa(1) | 4 | 3 | 4 | ||||||||||||||
Australia | 3 | 3 | 2 | ||||||||||||||
Americas | 99 | 81 | 128 | ||||||||||||||
106 | 87 | 134 | |||||||||||||||
Equity-accounted joint ventures included above | (1) | (1) | (1) | ||||||||||||||
Continuing operations | 105 | 86 | 133 | ||||||||||||||
Discontinued operations - South Africa | 1 | 1 | 6 | ||||||||||||||
106 | 87 | 139 | |||||||||||||||
Figures in millions | Gold income | ||||||||||||||||
US Dollars | 2022 | 2021 | 2020 | ||||||||||||||
Restated (8) | |||||||||||||||||
Geographical analysis of gold income by origin is as follows: | |||||||||||||||||
Africa * (1) | 2,981 | 2,644 | 2,937 | ||||||||||||||
Kibali - Attributable 45% | 596 | 659 | 647 | ||||||||||||||
Iduapriem | 443 | 361 | 485 | ||||||||||||||
Obuasi | 431 | 204 | 219 | ||||||||||||||
Siguiri | 591 | 545 | 453 | ||||||||||||||
Geita | 920 | 875 | 1,133 | ||||||||||||||
Australia * | 967 | 890 | 989 | ||||||||||||||
Sunrise Dam | 410 | 416 | 459 | ||||||||||||||
Tropicana - Attributable 70% | 557 | 474 | 530 | ||||||||||||||
Americas * | 1,036 | 1,028 | 1,211 | ||||||||||||||
Cerro Vanguardia | 319 | 279 | 358 | ||||||||||||||
AngloGold Ashanti Mineração | 557 | 600 | 649 | ||||||||||||||
Serra Grande | 160 | 149 | 204 | ||||||||||||||
4,984 | 4,562 | 5,137 | |||||||||||||||
Equity-accounted joint ventures included above | (596) | (659) | (647) | ||||||||||||||
Continuing operations | 4,388 | 3,903 | 4,490 | ||||||||||||||
Discontinued operations - South Africa | — | — | 408 | ||||||||||||||
4,388 | 3,903 | 4,898 | |||||||||||||||
Foreign countries included in the above and considered material are: | |||||||||||||||||
Australia | 967 | 890 | 989 | ||||||||||||||
Argentina | 319 | 279 | 358 | ||||||||||||||
Brazil | 717 | 749 | 853 | ||||||||||||||
Ghana | 874 | 565 | 704 | ||||||||||||||
Guinea | 591 | 545 | 453 | ||||||||||||||
Tanzania | 920 | 875 | 1,133 | ||||||||||||||
DRC | 596 | 659 | 647 | ||||||||||||||
Geographical analysis of gold income by destination is as follows: | |||||||||||||||||
South Africa # | 599 | 669 | 661 | ||||||||||||||
North America | 409 | 699 | 580 | ||||||||||||||
South America | 33 | 34 | 1 | ||||||||||||||
Australia | 967 | 890 | 989 | ||||||||||||||
Europe | 319 | 279 | 358 | ||||||||||||||
United Kingdom | 2,066 | 1,446 | 2,095 | ||||||||||||||
Other # | 591 | 545 | 453 | ||||||||||||||
4,984 | 4,562 | 5,137 | |||||||||||||||
Equity-accounted joint ventures included above | (596) | (659) | (647) | ||||||||||||||
Continuing operations | 4,388 | 3,903 | 4,490 | ||||||||||||||
Discontinued operations - South Africa | — | — | 408 | ||||||||||||||
Continuing and discontinued operations | 4,388 | 3,903 | 4,898 | ||||||||||||||
Figures in millions | Gross profit (loss) (2) | ||||||||||||||||
US Dollars | 2020 | 2019 | 2018 | ||||||||||||||
Africa(1) | 1,201 | 605 | 380 | ||||||||||||||
Australia | 286 | 221 | 160 | ||||||||||||||
Americas(1) | 532 | 265 | 310 | ||||||||||||||
Corporate and other | (2) | 1 | 2 | ||||||||||||||
2,017 | 1,092 | 852 | |||||||||||||||
Equity-accounted joint ventures included above | (308) | (188) | (102) | ||||||||||||||
Continuing operations | 1,709 | 904 | 750 | ||||||||||||||
Discontinued operations - South Africa | 83 | 79 | 22 | ||||||||||||||
1,792 | 983 | 772 | |||||||||||||||
Figures in millions | Cost of sales | ||||||||||||||||
US Dollars | 2020 | 2019 | 2018 | ||||||||||||||
Africa(1) | 1,572 | 1,601 | 1,607 | ||||||||||||||
Australia | 705 | 632 | 622 | ||||||||||||||
Americas (1) | 764 | 822 | 838 | ||||||||||||||
Corporate and other | (2) | (1) | (3) | ||||||||||||||
3,039 | 3,054 | 3,064 | |||||||||||||||
Equity-accounted joint ventures included above | (340) | (428) | (480) | ||||||||||||||
Continuing operations | 2,699 | 2,626 | 2,584 | ||||||||||||||
Discontinued operations - South Africa | 287 | 479 | 589 | ||||||||||||||
2,986 | 3,105 | 3,173 | |||||||||||||||
Figures in millions | Amortisation | ||||||||||||||||
US Dollars | 2020 | 2019 | 2018 | ||||||||||||||
Africa(1) | 349 | 367 | 379 | ||||||||||||||
Australia | 160 | 173 | 149 | ||||||||||||||
Americas(1) | 163 | 177 | 192 | ||||||||||||||
Corporate and other | 2 | 3 | 3 | ||||||||||||||
674 | 720 | 723 | |||||||||||||||
Equity-accounted joint ventures included above | (104) | (137) | (165) | ||||||||||||||
Continuing operations | 570 | 583 | 558 | ||||||||||||||
Discontinued operations - South Africa | 0 | 61 | 72 | ||||||||||||||
570 | 644 | 630 | |||||||||||||||
Figures in millions | Total assets (1)(3)(4) | ||||||||||||||||
US Dollars | 2020 | 2019 | 2018 | ||||||||||||||
South Africa | 0 | 697 | 1,106 | ||||||||||||||
Africa | 3,956 | 3,514 | 3,135 | ||||||||||||||
Australia | 1,044 | 972 | 888 | ||||||||||||||
Americas | 1,626 | 1,427 | 1,286 | ||||||||||||||
Corporate and other | 1,046 | 253 | 228 | ||||||||||||||
7,672 | 6,863 | 6,643 |
Figures in millions | Non-current assets (5) | ||||||||||||||||
US Dollars | 2020 | 2019 | 2018 | ||||||||||||||
Non-current assets considered material, by country are: | |||||||||||||||||
South Africa | 59 | 25 | 1,005 | ||||||||||||||
Foreign entities | 5,053 | 4,644 | 4,234 | ||||||||||||||
DRC | 1,604 | 1,506 | 1,439 | ||||||||||||||
Ghana | 915 | 758 | 550 | ||||||||||||||
Tanzania | 425 | 379 | 369 | ||||||||||||||
Australia | 849 | 817 | 718 | ||||||||||||||
Brazil | 627 | 625 | 615 |
Figures in millions | By product revenue | ||||||||||||||||
US Dollars | 2022 | 2021 | 2020 | ||||||||||||||
Africa * (1) | 4 | 5 | 4 | ||||||||||||||
Kibali - Attributable 45% | 1 | 2 | 1 | ||||||||||||||
Iduapriem | 1 | 1 | 1 | ||||||||||||||
Obuasi | 1 | — | — | ||||||||||||||
Siguiri | — | 1 | — | ||||||||||||||
Geita | 1 | 1 | 2 | ||||||||||||||
Australia * | 4 | 4 | 3 | ||||||||||||||
Sunrise Dam | 1 | 1 | 1 | ||||||||||||||
Tropicana - Attributable 70% | 3 | 3 | 2 | ||||||||||||||
Americas * | 106 | 119 | 99 | ||||||||||||||
Cerro Vanguardia | 75 | 93 | 82 | ||||||||||||||
AngloGold Ashanti Mineração | 31 | 26 | 17 | ||||||||||||||
114 | 128 | 106 | |||||||||||||||
Equity-accounted joint ventures included above | (1) | (2) | (1) | ||||||||||||||
Continuing operations | 113 | 126 | 105 | ||||||||||||||
Discontinued operations - South Africa | — | — | 1 | ||||||||||||||
113 | 126 | 106 | |||||||||||||||
Figures in millions | Cost of sales | ||||||||||||||||
US Dollars | 2022 | 2021 | 2020 | ||||||||||||||
Restated (8) | |||||||||||||||||
Africa * (1) | 2,004 | 1,650 | 1,702 | ||||||||||||||
Kibali - Attributable 45% | 342 | 350 | 340 | ||||||||||||||
Iduapriem | 314 | 238 | 280 | ||||||||||||||
Obuasi | 266 | 164 | 164 | ||||||||||||||
Siguiri | 488 | 410 | 377 | ||||||||||||||
Geita | 594 | 488 | 542 | ||||||||||||||
Administration and other | — | — | (1) | ||||||||||||||
Australia * | 783 | 740 | 705 | ||||||||||||||
Sunrise Dam | 371 | 364 | 342 | ||||||||||||||
Tropicana - Attributable 70% | 382 | 346 | 338 | ||||||||||||||
Administration and other | 30 | 30 | 25 | ||||||||||||||
Americas * | 913 | 822 | 764 | ||||||||||||||
Cerro Vanguardia | 273 | 261 | 269 | ||||||||||||||
AngloGold Ashanti Mineração | 477 | 435 | 392 | ||||||||||||||
Serra Grande | 162 | 123 | 101 | ||||||||||||||
Administration and other | 1 | 3 | 2 | ||||||||||||||
Corporate and other | 4 | (5) | (2) | ||||||||||||||
3,704 | 3,207 | 3,169 | |||||||||||||||
Equity-accounted joint ventures included above | (342) | (350) | (340) | ||||||||||||||
Continuing operations | 3,362 | 2,857 | 2,829 | ||||||||||||||
Discontinued operations - South Africa | — | — | 287 | ||||||||||||||
3,362 | 2,857 | 3,116 | |||||||||||||||
Figures in millions | Capital expenditure | ||||||||||||||||
US Dollars | 2020 | 2019 | 2018 | ||||||||||||||
Africa(1) | 397 | 410 | 313 | ||||||||||||||
Australia | 143 | 149 | 156 | ||||||||||||||
Americas (1) | 217 | 195 | 176 | ||||||||||||||
Continuing operations | 757 | 754 | 645 | ||||||||||||||
Discontinued operations - South Africa | 35 | 60 | 76 | ||||||||||||||
792 | 814 | 721 | |||||||||||||||
Equity-accounted joint ventures included above | (56) | (51) | (69) | ||||||||||||||
736 | 763 | 652 |
Figures in millions | Gross profit (loss) (2) | ||||||||||||||||
US Dollars | 2022 | 2021 | 2020 | ||||||||||||||
Restated (8) | |||||||||||||||||
Africa * (1) | 981 | 999 | 1,239 | ||||||||||||||
Kibali - Attributable 45% | 256 | 311 | 308 | ||||||||||||||
Iduapriem | 130 | 124 | 206 | ||||||||||||||
Obuasi | 165 | 41 | 55 | ||||||||||||||
Siguiri | 103 | 135 | 76 | ||||||||||||||
Geita | 327 | 388 | 593 | ||||||||||||||
Administration and other | — | — | 1 | ||||||||||||||
Australia * | 188 | 153 | 286 | ||||||||||||||
Sunrise Dam | 40 | 53 | 117 | ||||||||||||||
Tropicana - Attributable 70% | 177 | 130 | 194 | ||||||||||||||
Administration and other | (29) | (30) | (25) | ||||||||||||||
Americas * | 229 | 325 | 532 | ||||||||||||||
Cerro Vanguardia | 122 | 111 | 157 | ||||||||||||||
AngloGold Ashanti Mineração | 111 | 191 | 273 | ||||||||||||||
Serra Grande | (2) | 26 | 104 | ||||||||||||||
Administration and other | (2) | (3) | (2) | ||||||||||||||
Corporate and other | (9) | 6 | (2) | ||||||||||||||
1,389 | 1,483 | 2,055 | |||||||||||||||
Equity-accounted joint ventures included above | (256) | (311) | (308) | ||||||||||||||
Continuing operations | 1,133 | 1,172 | 1,747 | ||||||||||||||
Discontinued operations - South Africa | — | — | 83 | ||||||||||||||
1,133 | 1,172 | 1,830 | |||||||||||||||
Figures in millions | Amortisation | ||||||||||||||||
US Dollars | 2022 | 2021 | 2020 | ||||||||||||||
Restated (8) | |||||||||||||||||
Africa * (1) | 367 | 268 | 354 | ||||||||||||||
Kibali - Attributable 45% | 95 | 105 | 104 | ||||||||||||||
Iduapriem | 80 | 19 | 74 | ||||||||||||||
Obuasi | 40 | 22 | 11 | ||||||||||||||
Siguiri | 50 | 47 | 41 | ||||||||||||||
Geita | 102 | 75 | 124 | ||||||||||||||
Australia * (6) | 172 | 150 | 160 | ||||||||||||||
Sunrise Dam | 54 | 60 | 64 | ||||||||||||||
Tropicana - Attributable 70% | 117 | 88 | 94 | ||||||||||||||
Administration and other | 1 | 2 | 2 | ||||||||||||||
Americas * | 185 | 161 | 163 | ||||||||||||||
Cerro Vanguardia | 39 | 27 | 26 | ||||||||||||||
AngloGold Ashanti Mineração | 106 | 108 | 109 | ||||||||||||||
Serra Grande | 40 | 25 | 27 | ||||||||||||||
Administration and other | — | 1 | 1 | ||||||||||||||
Corporate and other | 4 | 3 | 2 | ||||||||||||||
728 | 582 | 679 | |||||||||||||||
Equity-accounted joint ventures included above | (95) | (105) | (104) | ||||||||||||||
Continuing operations | 633 | 477 | 575 | ||||||||||||||
Figures in millions | Total assets (3)(4) | ||||||||||||||||
US Dollars | 2022 | 2021 | 2020 | ||||||||||||||
Restated (7)(9) | Restated (7)(9) | ||||||||||||||||
Africa * (1) | 4,083 | 4,226 | 3,989 | ||||||||||||||
Kibali - Attributable 45% | 1,063 | 1,604 | 1,604 | ||||||||||||||
Iduapriem | 436 | 386 | 328 | ||||||||||||||
Obuasi | 1,268 | 1,036 | 923 | ||||||||||||||
Siguiri | 447 | 463 | 458 | ||||||||||||||
Geita | 864 | 732 | 670 | ||||||||||||||
Administration and other | 5 | 5 | 6 | ||||||||||||||
Australia * (6) | 960 | 1,034 | 1,044 | ||||||||||||||
Americas * | 1,406 | 1,573 | 1,370 | ||||||||||||||
Cerro Vanguardia | 514 | 491 | 456 | ||||||||||||||
AngloGold Ashanti Mineração | 625 | 781 | 650 | ||||||||||||||
Serra Grande | 228 | 252 | 189 | ||||||||||||||
Administration and other | 39 | 49 | 75 | ||||||||||||||
Projects * (7) | 872 | 313 | 256 | ||||||||||||||
Colombian projects | 244 | 211 | 176 | ||||||||||||||
North American projects | 628 | 102 | 80 | ||||||||||||||
Corporate and other | 751 | 854 | 1,046 | ||||||||||||||
8,072 | 8,000 | 7,705 |
Figures in millions | Non-current assets (5) | ||||||||||||||||
US Dollars | 2022 | 2021 | 2020 | ||||||||||||||
Restated (7)(9) | Restated (7)(9) | ||||||||||||||||
Non-current assets considered material, by country are: | |||||||||||||||||
South Africa | 40 | 61 | 59 | ||||||||||||||
Foreign entities | 5,767 | 5,640 | 5,086 | ||||||||||||||
DRC | 1,063 | 1,604 | 1,604 | ||||||||||||||
Ghana | 1,349 | 1,191 | 948 | ||||||||||||||
Tanzania | 594 | 510 | 425 | ||||||||||||||
Australia | 758 | 806 | 849 | ||||||||||||||
Brazil | 659 | 797 | 627 | ||||||||||||||
North America | 617 | — | — |
Figures in millions | Capital expenditure | ||||||||||||||||
US Dollars | 2022 | 2021 | 2020 | ||||||||||||||
Restated (7) | Restated (7)(8) | ||||||||||||||||
Africa * (1) | 576 | 506 | 435 | ||||||||||||||
Kibali - Attributable 45% | 90 | 72 | 52 | ||||||||||||||
Iduapriem | 146 | 105 | 60 | ||||||||||||||
Obuasi | 159 | 168 | 206 | ||||||||||||||
Siguiri | 27 | 38 | 30 | ||||||||||||||
Geita | 154 | 123 | 87 | ||||||||||||||
Australia * (6) | 202 | 185 | 143 | ||||||||||||||
Sunrise Dam | 50 | 62 | 53 | ||||||||||||||
Tropicana - Attributable 70% | 152 | 122 | 90 | ||||||||||||||
Administration and other | — | 1 | — | ||||||||||||||
Americas * | 322 | 346 | 168 | ||||||||||||||
Cerro Vanguardia | 66 | 69 | 31 | ||||||||||||||
AngloGold Ashanti Mineração | 199 | 195 | 104 | ||||||||||||||
Serra Grande | 57 | 82 | 33 | ||||||||||||||
Projects * (7) | 17 | 52 | 49 | ||||||||||||||
Colombian projects | 16 | 52 | 49 | ||||||||||||||
North American projects | 1 | — | — | ||||||||||||||
Corporate and other | 1 | 11 | — | ||||||||||||||
Continuing operations | 1,118 | 1,100 | 795 | ||||||||||||||
Discontinued operations - South Africa | — | — | 35 | ||||||||||||||
1,118 | 1,100 | 830 | |||||||||||||||
Equity-accounted joint ventures included above | (90) | (72) | (56) | ||||||||||||||
1,028 | 1,028 | 774 |
US Dollars | |||||||||||||||||
Figures in millions | 2022 | 2021 | 2020 | ||||||||||||||
Restated | |||||||||||||||||
Revenue consists of the following principal categories: | |||||||||||||||||
Gold income (note 2) | 4,388 | 3,903 | 4,490 | ||||||||||||||
By-products (note 2) | 113 | 126 | 105 | ||||||||||||||
4,501 | 4,029 | 4,595 |
US Dollars | |||||||||||||||||
Figures in millions | 2022 | 2021 | 2020 | ||||||||||||||
Restated | |||||||||||||||||
Cash operating costs | 2,554 | 2,160 | 2,012 | ||||||||||||||
Royalties | 185 | 162 | 181 | ||||||||||||||
Other cash costs | 14 | 12 | 13 | ||||||||||||||
Total cash costs | 2,753 | 2,334 | 2,206 | ||||||||||||||
Retrenchment costs | 6 | 2 | 2 | ||||||||||||||
Rehabilitation and other non-cash costs | — | 38 | 32 | ||||||||||||||
Amortisation of tangible assets (notes 30 and 34) | 551 | 411 | 526 | ||||||||||||||
Amortisation of right of use assets (notes 14, 30 and 34) | 81 | 63 | 47 | ||||||||||||||
Amortisation of intangible assets (notes 15, 30 and 34) | 1 | 3 | 2 | ||||||||||||||
Inventory change | (30) | 6 | 14 | ||||||||||||||
3,362 | 2,857 | 2,829 |
US Dollars | |||||||||||||||||
Figures in millions | 2022 | 2021 | 2020 | ||||||||||||||
Care and maintenance | — | 45 | — | ||||||||||||||
Governmental fiscal claims | 11 | 7 | 6 | ||||||||||||||
Legacy TSF obligations | (16) | 9 | 14 | ||||||||||||||
Pension and medical defined benefit | 7 | 7 | 8 | ||||||||||||||
Royalty receivable impaired | — | — | 4 | ||||||||||||||
Royalties received | (2) | (2) | (2) | ||||||||||||||
Retrenchment and related costs | — | 18 | — | ||||||||||||||
Legal fees and project costs | 15 | 10 | 9 | ||||||||||||||
Refund from insurance claim | — | — | (5) | ||||||||||||||
Other indirect taxes | 11 | 18 | 23 | ||||||||||||||
Premium on settlement of bonds | — | 24 | — | ||||||||||||||
26 | 136 | 57 |
US Dollars | |||||||||||||||||
Figures in millions | 2020 | 2019 | 2018 | ||||||||||||||
Revenue consists of the following principal categories: | |||||||||||||||||
Gold income (note 2) | 4,322 | 3,439 | 3,203 | ||||||||||||||
By-products (note 2) | 105 | 86 | 133 | ||||||||||||||
Revenue from product sales | 4,427 | 3,525 | 3,336 |
US Dollars | |||||||||||||||||
Figures in millions | 2020 | 2019 | 2018 | ||||||||||||||
Cash operating costs | 1,881 | 1,831 | 1,850 | ||||||||||||||
Royalties | 181 | 137 | 133 | ||||||||||||||
Other cash costs | 12 | 13 | 13 | ||||||||||||||
Total cash costs | 2,074 | 1,981 | 1,996 | ||||||||||||||
Retrenchment costs | 2 | 4 | 4 | ||||||||||||||
Rehabilitation and other non-cash costs | 32 | 53 | 17 | ||||||||||||||
Amortisation of tangible assets (notes 32 and 36) | 521 | 538 | 553 | ||||||||||||||
Amortisation of right of use assets (notes 16, 32 and 36) | 47 | 42 | 0 | ||||||||||||||
Amortisation of intangible assets (notes 32 and 36) | 2 | 3 | 5 | ||||||||||||||
Inventory change | 21 | 5 | 9 | ||||||||||||||
2,699 | 2,626 | 2,584 |
US Dollars | |||||||||||||||||
Figures in millions | 2020 | 2019 | 2018 | ||||||||||||||
Corporate administration expenses | 59 | 63 | 60 | ||||||||||||||
Share scheme and related costs | 9 | 19 | 16 | ||||||||||||||
68 | 82 | 76 |
US Dollars | |||||||||||||||||
Figures in millions | 2020 | 2019 | 2018 | ||||||||||||||
Care and maintenance note 36 | 0 | 47 | 39 | ||||||||||||||
Governmental fiscal claims, cost of old tailings operations and other expenses | 20 | 21 | 14 | ||||||||||||||
Guinea public infrastructure contribution | 0 | 8 | 0 | ||||||||||||||
Pension and medical defined benefit provisions | 8 | 9 | 10 | ||||||||||||||
Royalty receivable impaired | 4 | 0 | 0 | ||||||||||||||
Royalties received | (2) | (3) | (10) | ||||||||||||||
Brazilian power utility legal settlement | 0 | (16) | 0 | ||||||||||||||
Retrenchment and related costs | 0 | 3 | 6 | ||||||||||||||
Legal fees and project costs | 9 | 11 | 16 | ||||||||||||||
Refund from insurance claim | (5) | 0 | 0 | ||||||||||||||
Other indirect taxes | 23 | 3 | 4 | ||||||||||||||
57 | 83 | 79 |
US Dollars | |||||||||||||||||
Figures in millions | 2020 | 2019 | 2018 | ||||||||||||||
Finance costs | |||||||||||||||||
Finance costs on bonds, corporate notes, bank loans and other | 124 | 135 | 128 | ||||||||||||||
Amortisation of fees | 23 | 4 | 7 | ||||||||||||||
Lease finance charges | 8 | 10 | 5 | ||||||||||||||
Less: interest captalised | (17) | (6) | 0 | ||||||||||||||
138 | 143 | 140 | |||||||||||||||
Unwinding of obligations | 39 | 29 | 28 | ||||||||||||||
Total finance costs and unwinding of obligations (notes 32 and 36) | 177 | 172 | 168 |
US Dollars | |||||||||||||||||
Figures in millions | 2022 | 2021 | 2020 | ||||||||||||||
Finance costs | |||||||||||||||||
Finance costs on bonds, bank loans and other | 102 | 109 | 124 | ||||||||||||||
Amortisation of fees | 8 | 6 | 23 | ||||||||||||||
Lease finance charges | 11 | 9 | 8 | ||||||||||||||
Less: interest captalised | (2) | (14) | (17) | ||||||||||||||
119 | 110 | 138 | |||||||||||||||
Unwinding of obligations | 30 | 6 | 39 | ||||||||||||||
Total finance costs and unwinding of obligations (notes 30 and 34) | 149 | 116 | 177 |
US Dollars | |||||||||||||||||
Figures in millions | 2020 | 2019 | 2018 | ||||||||||||||
Revenue | 677 | 616 | 582 | ||||||||||||||
Operating costs and other expenses | (353) | (452) | (472) | ||||||||||||||
Profit on sale of joint ventures (1) | 19 | 0 | 0 | ||||||||||||||
Net interest received (paid) | 5 | 10 | (8) | ||||||||||||||
Profit (loss) before taxation | 348 | 174 | 102 | ||||||||||||||
Taxation | (70) | (35) | (9) | ||||||||||||||
Profit (loss) after taxation | 278 | 139 | 93 | ||||||||||||||
Impairment reversal of investments in associates | 0 | 23 | 15 | ||||||||||||||
Impairment reversal of investments in joint ventures (note 19) | 0 | 6 | 14 | ||||||||||||||
Share of associates and joint ventures’ profit (loss) (note 32) | 278 | 168 | 122 |
US Dollars | |||||||||||||||||
Figures in millions | 2020 | 2019 | 2018 | ||||||||||||||
Revenue from product sales | 409 | 555 | 608 | ||||||||||||||
Cost of sales | (287) | (479) | (589) | ||||||||||||||
(Loss) gain on non-hedge derivatives and other commodity contracts | (39) | 3 | 3 | ||||||||||||||
Gross profit | 83 | 79 | 22 | ||||||||||||||
Other expenses | (23) | (44) | (72) | ||||||||||||||
Derecognition of assets, and (loss) profit on disposal of assets | (80) | (3) | (118) | ||||||||||||||
Impairment reversal (loss) recognised on remeasurement to fair value less costs to sell | 17 | (549) | 0 | ||||||||||||||
Loss before taxation | (3) | (517) | (168) | ||||||||||||||
Normal and deferred taxation on operations | 0 | (23) | 38 | ||||||||||||||
Deferred tax on impairment reversal (loss), derecognition and profit (loss) on disposal of assets | (1) | 164 | 47 | ||||||||||||||
Deferred taxation on unrealised movement on derivatives and other commodity contracts | 11 | 0 | 0 | ||||||||||||||
Total profit (loss) from discontinued operations | 7 | (376) | (83) |
US Dollars | ||||||||
Figures in millions | 30 September 2020 | 31 December 2019 | ||||||
Tangible assets and right of use assets | 359 | 429 | ||||||
Other investments | 76 | 84 | ||||||
Inventories | 75 | 37 | ||||||
Trade, other receivables and other assets | 5 | 4 | ||||||
Deferred taxation | 40 | 15 | ||||||
Cash and cash restricted for use | 0 | 12 | ||||||
Assets held for sale | 555 | 581 | ||||||
Lease liabilities | 2 | 3 | ||||||
Environmental rehabilitation and other provisions | 198 | 211 | ||||||
Trade and other payables | 55 | 58 | ||||||
Liabilities held for sale | 255 | 272 | ||||||
Net assets held for sale | 300 | 309 | ||||||
US Dollars | |||||||||||||||||
Figures in millions | 2022 | 2021 | 2020 | ||||||||||||||
Revenue | 629 | 697 | 677 | ||||||||||||||
Operating costs and other expenses | (393) | (370) | (353) | ||||||||||||||
Profit on sale of joint ventures | — | — | 19 | ||||||||||||||
Net interest received | 4 | 7 | 5 | ||||||||||||||
Profit (loss) before taxation | 240 | 334 | 348 | ||||||||||||||
Taxation | (73) | (85) | (70) | ||||||||||||||
Profit (loss) after taxation | 167 | 249 | 278 | ||||||||||||||
Impairment investment in joint ventures (note 17) | (1) | — | — | ||||||||||||||
Share of associates and joint ventures’ profit (loss) (note 30) | 166 | 249 | 278 |
US Dollars | |||||||||||||||||
Figures in millions | 2020 | 2019 | 2018 | ||||||||||||||
Restated | |||||||||||||||||
Employee benefits including Executive Directors’ and Prescribed Officers’ salaries and other benefits (1) | 644 | 697 | 797 | ||||||||||||||
- current medical expenses | 23 | 29 | 39 | ||||||||||||||
- defined benefit post-retirement medical expenses | 7 | 8 | 9 | ||||||||||||||
- defined contribution | 25 | 29 | 37 | ||||||||||||||
Retrenchment costs | 2 | 7 | 30 | ||||||||||||||
Share-based payment expense (note 11) | 16 | 42 | 35 | ||||||||||||||
Included in cost of sales, other expenses (income) and corporate administration, marketing and other expenses of continuing and discontinued operations | 717 | 812 | 947 |
US Dollars | |||||||||||||||||
Figures in millions | 2022 | 2021 | 2020 | ||||||||||||||
Employee benefits including Executive Directors’ and Prescribed Officers’ salaries and other benefits | 650 | 593 | 644 | ||||||||||||||
- current medical expenses | 17 | 25 | 23 | ||||||||||||||
- defined benefit post-retirement medical expenses | 5 | 6 | 7 | ||||||||||||||
- defined contribution | 20 | 20 | 25 | ||||||||||||||
Retrenchment costs | 6 | 16 | 2 | ||||||||||||||
Share-based payment expense (note 9) | 18 | 22 | 16 | ||||||||||||||
Included in cost of sales, other expenses and corporate administration, marketing and related expenses of continuing and discontinued operations | 716 | 682 | 717 |
US dollar millions | As previously reported | Adjustment | As restated | ||||||||
Employee benefits including Executive Directors' and Prescribed Officers' salaries and other benefits | 680 | 17 | 697 | ||||||||
Included in cost of sales, other expenses (income) and corporate administration, marketing and other expenses of continuing and discontinued operations | 795 | 17 | 812 |
US Dollars | |||||||||||||||||
Figures in millions | 2020 | 2019 | 2018 | ||||||||||||||
Equity-settled share incentive schemes | |||||||||||||||||
Bonus Share Plan (BSP) | 1 | 6 | 20 | ||||||||||||||
Deferred Share Plan (DSP) | 14 | 13 | 0 | ||||||||||||||
Other | 1 | 2 | 2 | ||||||||||||||
16 | 21 | 22 | |||||||||||||||
Cash-settled share incentive scheme | |||||||||||||||||
Cash-settled Long Term Incentive Plan (CSLTIP) | 0 | 21 | 13 | ||||||||||||||
Total share-based payment expense (note 10) | 16 | 42 | 35 |
US Dollars | |||||||||||||||||
Figures in millions | 2022 | 2021 | 2020 | ||||||||||||||
Equity-settled share incentive schemes | |||||||||||||||||
Deferred Share Plan (DSP) | 18 | 22 | 14 | ||||||||||||||
Other | — | — | 2 | ||||||||||||||
Total share-based payment expense (note 8) | 18 | 22 | 16 |
Award date (unexercised awards) | 2018 | ||||||||||||||||
Calculated fair value | R | 119.14 | |||||||||||||||
Vesting date 50% | 22 Feb 2019 | ||||||||||||||||
Vesting date 50% | 22 Feb 2020 | ||||||||||||||||
Expiry date | 22 Feb 2028 | ||||||||||||||||
Award date (unvested awards and awards vested during the year) | 2020 | 2019 | 2018 | ||||||||||||||
Calculated fair value | R | 119.14 | |||||||||||||||
Vesting date 50% | 22 Feb 2019 | ||||||||||||||||
Vesting date 50% | 22 Feb 2020 | ||||||||||||||||
Expiry date | 22 Feb 2028 |
Number of shares | |||||||||||||||||
2022 | 2021 | 2020 | |||||||||||||||
Awards outstanding at beginning of year | 849,683 | 1,005,977 | 2,141,415 | ||||||||||||||
Awards lapsed during the year | (3,581) | — | — | ||||||||||||||
Awards exercised during the year | (219,580) | (156,294) | (1,135,438) | ||||||||||||||
Awards outstanding and exercisable at end of year | 626,522 | 849,683 | 1,005,977 |
Number of shares | |||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||
Awards outstanding at beginning of year | 2,141,415 | 4,557,919 | 4,479,679 | ||||||||||||||
Awards granted during the year | 0 | 0 | 2,492,584 | ||||||||||||||
Awards lapsed during the year | 0 | (109,065) | (359,343) | ||||||||||||||
Awards exercised during the year | (1,135,438) | (2,307,439) | (2,055,001) | ||||||||||||||
Awards outstanding at end of year | 1,005,977 | 2,141,415 | 4,557,919 | ||||||||||||||
Awards exercisable at end of year | 1,005,977 | 1,207,936 | 1,588,512 |
Award date (unvested awards and awards vested during the year) | 2022 | 2021 | 2020 | ||||||||||||||
Calculated fair value | R | 335.04 | R | 308.97 | R | 325.97 | |||||||||||
DSP 2 year | |||||||||||||||||
Vesting date 50% | 24 Feb 2023 | 24 Feb 2022 | 25 Feb 2021 | ||||||||||||||
Vesting date 50% | 24 Feb 2024 | 24 Feb 2023 | 25 Feb 2022 | ||||||||||||||
DSP 3 year | |||||||||||||||||
Vesting date 33% | 24 Feb 2023 | 24 Feb 2022 | 25 Feb 2021 | ||||||||||||||
Vesting date 33% | 24 Feb 2024 | 24 Feb 2023 | 25 Feb 2022 | ||||||||||||||
Vesting date 34% | 24 Feb 2025 | 24 Feb 2024 | 25 Feb 2023 | ||||||||||||||
DSP 5 year | |||||||||||||||||
Vesting date 20% | 24 Feb 2023 | 24 Feb 2022 | 25 Feb 2021 | ||||||||||||||
Vesting date 20% | 24 Feb 2024 | 24 Feb 2023 | 25 Feb 2022 | ||||||||||||||
Vesting date 20% | 24 Feb 2025 | 24 Feb 2024 | 25 Feb 2023 | ||||||||||||||
Vesting date 20% | 24 Feb 2026 | 24 Feb 2025 | 25 Feb 2024 | ||||||||||||||
Vesting date 20% | 24 Feb 2027 | 24 Feb 2026 | 25 Feb 2025 | ||||||||||||||
Expiry date | 24 Feb 2032 | 24 Feb 2031 | 25 Feb 2030 |
Number of shares | |||||||||||||||||
2022 | 2021 | 2020 | |||||||||||||||
Awards outstanding at beginning of year | 2,692,383 | 2,289,762 | 1,599,360 | ||||||||||||||
Awards granted during the year | 793,955 | 1,185,348 | 1,176,532 | ||||||||||||||
Awards lapsed during the year | (163,697) | (322,814) | (155,575) | ||||||||||||||
Awards exercised during the year | (839,033) | (459,913) | (330,555) | ||||||||||||||
Awards outstanding at end of year | 2,483,608 | 2,692,383 | 2,289,762 | ||||||||||||||
Awards exercisable at end of year | 693,211 | 588,694 | 183,439 |
Award date (unvested awards and awards vested during the year) | 2020 | 2019 | 2018 | ||||||||||||||
Calculated fair value | R | 325.97 | R | 204.42 | |||||||||||||
DSP 2 year | |||||||||||||||||
Vesting date 50% | 25 Feb 2021 | 21 Feb 2020 | |||||||||||||||
Vesting date 50% | 25 Feb 2022 | 21 Feb 2021 | |||||||||||||||
DSP 3 year | |||||||||||||||||
Vesting date 33% | 25 Feb 2021 | 21 Feb 2020 | |||||||||||||||
Vesting date 33% | 25 Feb 2022 | 21 Feb 2021 | |||||||||||||||
Vesting date 34% | 25 Feb 2023 | 21 Feb 2022 | |||||||||||||||
DSP 5 year | |||||||||||||||||
Vesting date 20% | 25 Feb 2021 | 21 Feb 2020 | |||||||||||||||
Vesting date 20% | 25 Feb 2022 | 21 Feb 2021 | |||||||||||||||
Vesting date 20% | 25 Feb 2023 | 21 Feb 2022 | |||||||||||||||
Vesting date 20% | 25 Feb 2024 | 21 Feb 2023 | |||||||||||||||
Vesting date 20% | 25 Feb 2025 | 21 Feb 2024 | |||||||||||||||
Expiry date | 25 Feb 2030 | 21 Feb 2029 |
Number of shares | |||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||
Awards outstanding at beginning of year | 1,599,360 | ||||||||||||||||
Awards granted during the year | 1,176,532 | 1,669,191 | |||||||||||||||
Awards lapsed during the year | (155,575) | (55,208) | |||||||||||||||
Awards exercised during the year | (330,555) | (14,623) | |||||||||||||||
Awards outstanding at end of year | 2,289,762 | 1,599,360 | |||||||||||||||
Awards exercisable at end of year | 183,439 | 0 |
Award date | 2015 | ||||||||||||||||
Calculated fair value | R | 129.94 | |||||||||||||||
Vesting date | 3 Mar 2018 | ||||||||||||||||
Expiry date | 3 Mar 2025 |
Number of shares | |||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||
Awards outstanding at beginning of year | 229,639 | 447,842 | 2,466,357 | ||||||||||||||
Awards lapsed during the year | 0 | 0 | (1,186,330) | ||||||||||||||
Awards exercised during the year | (118,077) | (218,203) | (832,185) | ||||||||||||||
Awards outstanding at end of year | 111,562 | 229,639 | 447,842 | ||||||||||||||
Awards exercisable at end of year | 111,562 | 229,639 | 447,842 |
Number of shares | |||||||||||||||||
2022 | 2021 | 2020 | |||||||||||||||
Awards outstanding at beginning of year | 109,229 | 111,562 | 229,639 | ||||||||||||||
Awards exercised during the year | (46,521) | (2,333) | (118,077) | ||||||||||||||
Awards outstanding and exercisable at end of year | 62,708 | 109,229 | 111,562 |
Number of shares | |||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||
Awards outstanding at beginning of year | 23,927 | 112,578 | 95,378 | ||||||||||||||
Awards granted during the year | 0 | 0 | 80,809 | ||||||||||||||
Awards lapsed during the year | 0 | (16,500) | (11,633) | ||||||||||||||
Awards matched during the year | (23,927) | (72,151) | (51,976) | ||||||||||||||
Awards outstanding at end of year | 0 | 23,927 | 112,578 |
Award date (unvested awards and awards vested during the year) | ||||||||||||||
2017 | 2016 | |||||||||||||
Vesting date | 1 March 2020 | 1 March 2019 |
Number of units | |||||||||||
2020 | 2019 | 2018 | |||||||||
Share units outstanding at beginning of year | 1,480,562 | 3,815,761 | 4,469,618 | ||||||||
Share units granted during the year | 0 | 0 | 0 | ||||||||
Share units lapsed during the year | (82,063) | (1,305,761) | (611,265) | ||||||||
Share units exercised during the year | (1,398,499) | (1,029,438) | (42,592) | ||||||||
Share units outstanding at end of year | 0 | 1,480,562 | 3,815,761 |
Figures in millions | US Dollars | ||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||
South African taxation | |||||||||||||||||
Normal taxation | 1 | 0 | 0 | ||||||||||||||
Prior year over provision | 0 | 0 | (2) | ||||||||||||||
Deferred taxation | |||||||||||||||||
Other temporary differences (1) | 74 | (18) | (27) | ||||||||||||||
Change in estimated deferred tax rate | 0 | (14) | 7 | ||||||||||||||
75 | (32) | (22) | |||||||||||||||
Foreign taxation | |||||||||||||||||
Normal taxation | 553 | 299 | 243 | ||||||||||||||
Prior year under (over) provision | 8 | (1) | 1 | ||||||||||||||
Deferred taxation | |||||||||||||||||
Temporary differences | 9 | (28) | (6) | ||||||||||||||
Prior year (over) under provision | (6) | 1 | 4 | ||||||||||||||
Change in estimate | (14) | 9 | (7) | ||||||||||||||
Change in statutory tax rate | 0 | 2 | (1) | ||||||||||||||
550 | 282 | 234 | |||||||||||||||
625 | 250 | 212 | |||||||||||||||
Figures in millions | US Dollars | ||||||||||||||||
2022 | 2021 | 2020 | |||||||||||||||
South African taxation | |||||||||||||||||
Normal taxation | 1 | — | 1 | ||||||||||||||
Prior year under (over) provision | 1 | (1) | — | ||||||||||||||
Deferred taxation | |||||||||||||||||
Other temporary differences | — | — | 74 | ||||||||||||||
2 | (1) | 75 | |||||||||||||||
Foreign taxation | |||||||||||||||||
Normal taxation | 198 | 252 | 553 | ||||||||||||||
Prior year under (over) provision | 31 | (3) | 8 | ||||||||||||||
Deferred taxation | |||||||||||||||||
Temporary differences | (7) | 52 | 9 | ||||||||||||||
Prior year under (over) provision | 4 | 4 | (6) | ||||||||||||||
Impairment and disposal of tangible assets | (58) | — | — | ||||||||||||||
Change in estimate | 3 | 6 | (14) | ||||||||||||||
Change in statutory tax rate | — | 2 | — | ||||||||||||||
171 | 313 | 550 | |||||||||||||||
173 | 312 | 625 |
Figures in millions | Figures in millions | US Dollars | Figures in millions | US Dollars | ||||||||||||||||||||||||||||||
Reconciliation to South African statutory rate | Reconciliation to South African statutory rate | 2020 | 2019 | 2018 | Reconciliation to South African statutory rate | 2022 | 2021 | 2020 | ||||||||||||||||||||||||||
Implied tax charge at 28% | Implied tax charge at 28% | 445 | 173 | 125 | Implied tax charge at 28% | 137 | 268 | 445 | ||||||||||||||||||||||||||
Increase (decrease) due to: | Increase (decrease) due to: | Increase (decrease) due to: | ||||||||||||||||||||||||||||||||
Expenses not tax deductible(1) | Expenses not tax deductible(1) | 29 | 28 | 28 | Expenses not tax deductible(1) | 84 | 22 | 29 | ||||||||||||||||||||||||||
Share of associates and joint ventures' profit | Share of associates and joint ventures' profit | (78) | (47) | (34) | Share of associates and joint ventures' profit | (46) | (70) | (78) | ||||||||||||||||||||||||||
Tax rate differentials(2) and withholding taxes | Tax rate differentials(2) and withholding taxes | 96 | 39 | 25 | Tax rate differentials(2) and withholding taxes | 25 | 54 | 96 | ||||||||||||||||||||||||||
Exchange variations, translation and accounting adjustments | 28 | 11 | 24 | |||||||||||||||||||||||||||||||
Current year tax losses not recognised (recognised) in deferred tax assets: | ||||||||||||||||||||||||||||||||||
Obuasi mine | (6) | 14 | 13 | |||||||||||||||||||||||||||||||
AngloGold Ashanti Holdings plc(3) | 31 | 29 | 36 | |||||||||||||||||||||||||||||||
Exchange variations and translation adjustments | Exchange variations and translation adjustments | — | 6 | 28 | ||||||||||||||||||||||||||||||
Deferred tax assets recognised at Obuasi | Deferred tax assets recognised at Obuasi | (56) | — | (6) | ||||||||||||||||||||||||||||||
Current year tax losses (expense) not recognised: | Current year tax losses (expense) not recognised: | |||||||||||||||||||||||||||||||||
Obuasi | Obuasi | (50) | 6 | — | ||||||||||||||||||||||||||||||
AngloGold Ashanti Holdings plc | AngloGold Ashanti Holdings plc | 24 | 25 | 31 | ||||||||||||||||||||||||||||||
North America | North America | 4 | 6 | 6 | North America | 22 | 13 | 4 | ||||||||||||||||||||||||||
Siguiri | (8) | 0 | 0 | |||||||||||||||||||||||||||||||
Other | 3 | (2) | (1) | |||||||||||||||||||||||||||||||
Siguiri (4) | Siguiri (4) | (27) | (37) | (8) | ||||||||||||||||||||||||||||||
SA Corporate | SA Corporate | 20 | 18 | — | ||||||||||||||||||||||||||||||
Change in planned utilisation of deferred tax assets and impact of estimated deferred tax rate change | Change in planned utilisation of deferred tax assets and impact of estimated deferred tax rate change | (14) | (5) | 0 | Change in planned utilisation of deferred tax assets and impact of estimated deferred tax rate change | 3 | 6 | (14) | ||||||||||||||||||||||||||
Tax effect of retained SA items | Tax effect of retained SA items | 16 | 3 | (10) | Tax effect of retained SA items | — | — | 16 | ||||||||||||||||||||||||||
Tax allowances | Tax allowances | (1) | (1) | (2) | Tax allowances | — | — | (1) | ||||||||||||||||||||||||||
Derecognition of deferred tax assets | Derecognition of deferred tax assets | 78 | 0 | 0 | Derecognition of deferred tax assets | — | — | 78 | ||||||||||||||||||||||||||
Impact of statutory tax rate change | Impact of statutory tax rate change | 0 | 2 | (1) | Impact of statutory tax rate change | — | 2 | — | ||||||||||||||||||||||||||
Adjustment in respect of prior years | 2 | 0 | 3 | |||||||||||||||||||||||||||||||
Adjustment in respect of prior years(5) | Adjustment in respect of prior years(5) | 36 | — | 2 | ||||||||||||||||||||||||||||||
Other | Other | 1 | (1) | 3 | ||||||||||||||||||||||||||||||
Income tax expense | Income tax expense | 625 | 250 | 212 | Income tax expense | 173 | 312 | 625 |
Figures in millions | Figures in millions | US Dollars | Figures in millions | US Dollars | ||||||||||||||||||||||||||||||
2020 | 2019 | 2018 | 2022 | 2021 | 2020 | |||||||||||||||||||||||||||||
Analysis of unrecognised deferred tax assets | Analysis of unrecognised deferred tax assets | Analysis of unrecognised deferred tax assets | ||||||||||||||||||||||||||||||||
Tax losses available to be utilised against future profits | ||||||||||||||||||||||||||||||||||
Available to be utilised against future profits | Available to be utilised against future profits | |||||||||||||||||||||||||||||||||
- utilisation required within one year | - utilisation required within one year | 62 | 0 | 48 | - utilisation required within one year | 107 | 54 | 62 | ||||||||||||||||||||||||||
- utilisation required between one and two years | - utilisation required between one and two years | 54 | 85 | 187 | - utilisation required between one and two years | 100 | 177 | 54 | ||||||||||||||||||||||||||
- utilisation required between two and five years | - utilisation required between two and five years | 352 | 356 | 300 | - utilisation required between two and five years | 1,350 | 1,339 | 352 | ||||||||||||||||||||||||||
- utilisation required between five and twenty years | - utilisation required between five and twenty years | 1,002 | 973 | 1,229 | - utilisation required between five and twenty years | 956 | 989 | 1,002 | ||||||||||||||||||||||||||
- utilisation in excess of twenty years | - utilisation in excess of twenty years | 421 | 73 | 26 | - utilisation in excess of twenty years | 588 | 449 | 421 | ||||||||||||||||||||||||||
1,891 | 1,487 | 1,790 | 3,101 | 3,008 | 1,891 |
2020 | 2019 | 2018 | |||||||||||||||
US cents per share | |||||||||||||||||
Basic earnings (loss) per ordinary share | 227 | (3) | 32 | ||||||||||||||
- Continuing operations | 225 | 87 | 52 | ||||||||||||||
The calculation of basic earnings (loss) per ordinary share is based on profits (losses) attributable to equity shareholders of $946m (2019: $364m; 2018: $216m) and 419,033,516 (2019: 418,349,777; 2018: 417,122,155) shares being the weighted average number of ordinary shares in issue during the financial year. | |||||||||||||||||
- Discontinued operations | 2 | (90) | (20) | ||||||||||||||
The calculation of basic earnings (loss) per ordinary share is based on profits (losses) attributable to equity shareholders of $7m (2019: $(376)m; 2018: $(83)m) and 419,033,516 (2019: 418,349,777; 2018: 417,122,155) shares being the weighted average number of ordinary shares in issue during the financial year. | |||||||||||||||||
Diluted earnings (loss) per ordinary share | 227 | (3) | 32 | ||||||||||||||
- Continuing operations | 225 | 87 | 52 | ||||||||||||||
The calculation of diluted earnings (loss) per ordinary share is based on profits (losses) attributable to equity shareholders of $946m (2019: $364m; 2018: $216m) and 419,481,450 (2019: 418,349,777; 2018: 417,379,405) shares being the diluted number of ordinary shares. | |||||||||||||||||
- Discontinued operations | 2 | (90) | (20) | ||||||||||||||
The calculation of diluted earnings (loss) per ordinary share is based on profits (losses) attributable to equity shareholders of $7m (2019: $(376)m; 2018: $(83)m) and 419,481,450 (2019: 418,349,777; 2018: 417,379,405) shares being the weighted average number of ordinary shares in issue during the financial year. |
2022 | 2021 | 2020 | |||||||||||||||
Restated | |||||||||||||||||
US cents per share | |||||||||||||||||
Basic earnings (loss) per ordinary share | 71 | 148 | 236 | ||||||||||||||
- Continuing operations | 71 | 148 | 234 | ||||||||||||||
The calculation of basic earnings per ordinary share is based on profits attributable to equity shareholders of $297m (2021: $622m; 2020: restated $984m) and 420,197,062 (2021: 419,755,627; 2020: 419,033,516) shares being the weighted average number of ordinary shares in issue during the financial year. | |||||||||||||||||
- Discontinued operations | — | — | 2 | ||||||||||||||
The calculation of basic earnings per ordinary share is based on profits attributable to equity shareholders of nil (2021: nil; 2020: $7m) and 420,197,062 (2021: 419,755,627; 2020: 419,033,516) shares being the weighted average number of ordinary shares in issue during the financial year. | |||||||||||||||||
Diluted earnings (loss) per ordinary share | 71 | 148 | 236 | ||||||||||||||
- Continuing operations | 71 | 148 | 234 | ||||||||||||||
The calculation of diluted earnings per ordinary share is based on profits attributable to equity shareholders of $297m (2021: $622m; 2020: restated $984m) and 420,869,866 (2021: 420,056,703; 2020: 419,481,450) shares being the diluted number of ordinary shares. | |||||||||||||||||
- Discontinued operations | — | — | 2 | ||||||||||||||
The calculation of diluted earnings per ordinary share is based on profits attributable to equity shareholders of nil (2021: nil; 2020: $7m) and 420,869,866 (2021: 420,056,703; 2020: 419,481,450) shares being the weighted average number of ordinary shares in issue during the financial year. |
Number of shares | |||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||
Ordinary shares | 416,399,307 | 414,407,622 | 411,412,947 | ||||||||||||||
Fully vested options and currently exercisable(1) | 2,634,209 | 3,942,155 | 5,709,208 | ||||||||||||||
Weighted average number of shares | 419,033,516 | 418,349,777 | 417,122,155 | ||||||||||||||
Dilutive potential of share options(2) | 447,934 | 0 | 257,250 | ||||||||||||||
Fully diluted number of ordinary shares | 419,481,450 | 418,349,777 | 417,379,405 |
Number of shares | |||||||||||||||||
2022 | 2021 | 2020 | |||||||||||||||
Ordinary shares | 418,260,476 | 417,272,178 | 416,399,307 | ||||||||||||||
Fully vested options and currently exercisable(1) | 1,936,586 | 2,483,449 | 2,634,209 | ||||||||||||||
Weighted average number of shares | 420,197,062 | 419,755,627 | 419,033,516 | ||||||||||||||
Dilutive potential of share options | 672,804 | 301,076 | 447,934 | ||||||||||||||
Diluted weighted average number of ordinary shares | 420,869,866 | 420,056,703 | 419,481,450 |
US Dollars | US Dollars | |||||||||||||||||||||||||||||||||
Figures in millions | Figures in millions | 2020 | 2019 | 2018 | Figures in millions | 2022 | 2021 | 2020 | ||||||||||||||||||||||||||
Headline earnings (loss) | ||||||||||||||||||||||||||||||||||
Restated | ||||||||||||||||||||||||||||||||||
Headline earnings (loss) (4) | Headline earnings (loss) (4) | |||||||||||||||||||||||||||||||||
The profit (loss) attributable to equity shareholders was adjusted by the following to arrive at headline earnings (loss): | The profit (loss) attributable to equity shareholders was adjusted by the following to arrive at headline earnings (loss): | The profit (loss) attributable to equity shareholders was adjusted by the following to arrive at headline earnings (loss): | ||||||||||||||||||||||||||||||||
Profit (loss) attributable to equity shareholders from continuing and discontinued operations | Profit (loss) attributable to equity shareholders from continuing and discontinued operations | 953 | (12) | 133 | Profit (loss) attributable to equity shareholders from continuing and discontinued operations | 297 | 622 | 991 | ||||||||||||||||||||||||||
Net impairment (impairment reversal) on held for sale assets | (17) | 549 | (2) | |||||||||||||||||||||||||||||||
Taxation on net impairment (impairment reversal) on held for sale assets | 0 | (165) | 0 | |||||||||||||||||||||||||||||||
Derecognition of assets | 0 | 10 | 104 | |||||||||||||||||||||||||||||||
Taxation on derecognition of assets | 0 | 0 | (26) | |||||||||||||||||||||||||||||||
Impairment loss on investment in joint venture (1) | Impairment loss on investment in joint venture (1) | 1 | — | — | ||||||||||||||||||||||||||||||
Net (impairment reversal) impairment on held for sale assets (1) | Net (impairment reversal) impairment on held for sale assets (1) | — | — | (17) | ||||||||||||||||||||||||||||||
Impairment on property, plant and equipment and right of use asset (1) | Impairment on property, plant and equipment and right of use asset (1) | 304 | 2 | — | ||||||||||||||||||||||||||||||
Taxation on impairment on property, plant and equipment and right of use asset | Taxation on impairment on property, plant and equipment and right of use asset | (58) | — | — | ||||||||||||||||||||||||||||||
Derecognition of assets (1) | Derecognition of assets (1) | 4 | 4 | — | ||||||||||||||||||||||||||||||
Loss on disposal of discontinued operations | Loss on disposal of discontinued operations | 80 | 0 | 24 | Loss on disposal of discontinued operations | — | — | 80 | ||||||||||||||||||||||||||
Taxation on loss on disposal of discontinued operations | Taxation on loss on disposal of discontinued operations | 1 | 0 | (20) | Taxation on loss on disposal of discontinued operations | — | — | 1 | ||||||||||||||||||||||||||
Profit on sale of joint ventures (1) | Profit on sale of joint ventures (1) | (19) | 0 | 0 | Profit on sale of joint ventures (1) | — | — | (19) | ||||||||||||||||||||||||||
Net loss (profit) on disposal of assets | 2 | (3) | 8 | |||||||||||||||||||||||||||||||
Net (profit) loss on disposal of tangible assets | Net (profit) loss on disposal of tangible assets | (4) | (17) | 2 | ||||||||||||||||||||||||||||||
Taxation on net (profit) loss on disposal of assets | Taxation on net (profit) loss on disposal of assets | 0 | 0 | (1) | Taxation on net (profit) loss on disposal of assets | — | 1 | — | ||||||||||||||||||||||||||
1,000 | 379 | 220 | 544 | 612 | 1,038 | |||||||||||||||||||||||||||||
US Cents | ||||||||||||||||||||||||||||||||||
Headline earnings | Headline earnings | |||||||||||||||||||||||||||||||||
Headline earnings per ordinary share (2) | Headline earnings per ordinary share (2) | 129 | 146 | 248 | ||||||||||||||||||||||||||||||
Diluted headline earnings per ordinary share (3) | Diluted headline earnings per ordinary share (3) | 129 | 146 | 247 |
US Cents | |||||||||||||||||
Basic headline earnings (loss) per share | |||||||||||||||||
The calculation of basic headline earnings (loss) per ordinary share is based on basic headline earnings (losses) of $1,000m (2019: $379m; 2018: $220m) and 419,033,516 (2019: 418,349,777; 2018: 417,122,155) shares being the weighted average number of ordinary shares in issue during the year. | 238 | 91 | 53 | ||||||||||||||
Diluted headline earnings (loss) per share | |||||||||||||||||
The calculation of diluted headline earnings (loss) per ordinary share is based on diluted headline earnings (losses) of $1,000m (2019: $379m; 2018: $220m) and 419,481,450 (2019: 418,349,777; 2018: 417,379,405) shares being the weighted average number of ordinary shares in issue during the year. | 238 | 91 | 53 |
US Dollars | ||||||||||||||||||||
Figures in million | 2020 | 2019 | 2018 | |||||||||||||||||
Ordinary shares | ||||||||||||||||||||
Dividend number 119 of 70 SA cents per share was declared on 20 February 2018 and paid on 6 April 2018 (6 US cents per share). | 24 | |||||||||||||||||||
Dividend number 120 of 95 SA cents per share was declared on 19 February 2019 and paid on 8 April 2019 (7 US cents per share). | 27 | |||||||||||||||||||
Dividend number 121 of 165 SA cents per share was declared on 21 February 2020 and paid on 27 March 2019 (9 US cents per share) | 38 | |||||||||||||||||||
38 | 27 | 24 |
US Dollars | ||||||||||||||||||||
Figures in millions | 2022 | 2021 | 2020 | |||||||||||||||||
Ordinary shares | ||||||||||||||||||||
Dividend number 121 of 165 SA cents per share was declared on 21 February 2020 and paid on 27 March 2020 (9 US cents per share). | 38 | |||||||||||||||||||
Dividend number 122 of 705 SA cents per share was declared on 22 February 2021 and paid on 26 March 2021 (48 US cents per share). | 199 | |||||||||||||||||||
Dividend number 123 of 87 SA cents per share was declared on 6 August 2021 and paid on 10 September 2021 (6 US cents per share) | 25 | |||||||||||||||||||
Dividend number 124 of 217 SA cents per share was declared on 22 February 2022 and paid on 25 March 2022 (15 US cents per share) | 62 | |||||||||||||||||||
Dividend number 125 of 493 SA cents per share was declared on 5 August 2022 and paid on 9 September 2022 (28 US cents per share) | 119 | |||||||||||||||||||
181 | 224 | 38 |
Figures in millions | Figures in millions | Mine development costs | Mine infra- structure(2) | Mineral rights and dumps | Exploration and evaluation assets | Assets under construction | Land and buildings(3)(4) | Total | Figures in millions | Mine development costs | Mine infrastructure | Mineral rights and dumps | Exploration and evaluation assets | Assets under construction | Land and buildings(3) | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
US Dollars | US Dollars | US Dollars | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | Cost | Cost | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance at 1 January 2018 | 5,562 | 4,382 | 892 | 5 | 490 | 83 | 11,414 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance at 1 January 2020 Restated (1) | Balance at 1 January 2020 Restated (1) | 5,001 | 3,776 | 881 | 7 | 400 | 66 | 10,131 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Additions | Additions | Additions | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
- project capital | - project capital | 2 | 0 | 0 | 0 | 175 | 0 | 177 | - project capital | 64 | — | — | 1 | 284 | 20 | 369 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
- stay-in-business capital | - stay-in-business capital | 294 | 20 | 3 | 0 | 149 | 1 | 467 | - stay-in-business capital | 180 | 8 | 1 | — | 179 | 2 | 370 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Finance costs capitalised (4) | Finance costs capitalised (4) | — | — | — | — | 17 | — | 17 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disposals | Disposals | (5) | (30) | 0 | (1) | 0 | (3) | (39) | Disposals | (1) | (26) | — | — | — | — | (27) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transfers and other movements(1) | 60 | (41) | 0 | 0 | (270) | 1 | (250) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transfers and other movements (2) | Transfers and other movements (2) | (1,076) | 186 | (699) | 2 | (320) | 24 | (1,883) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Translation | Translation | (239) | (119) | (7) | 0 | (32) | (5) | (402) | Translation | 157 | 9 | 5 | (1) | 6 | — | 176 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance at 31 December 2018 | 5,674 | 4,212 | 888 | 4 | 512 | 77 | 11,367 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance at 31 December 2020 Restated (1) | Balance at 31 December 2020 Restated (1) | 4,325 | 3,953 | 188 | 9 | 566 | 112 | 9,153 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accumulated amortisation and impairments | Accumulated amortisation and impairments | Accumulated amortisation and impairments | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance at 1 January 2018 | 3,979 | 2,796 | 853 | 3 | 26 | 15 | 7,672 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance at 1 January 2020 | Balance at 1 January 2020 | 3,866 | 2,803 | 846 | 4 | 25 | — | 7,544 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortisation for the year | Amortisation for the year | 345 | 179 | 5 | 1 | — | — | 530 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disposals | Disposals | (1) | (25) | — | — | — | — | (26) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transfers and other movements (2) | Transfers and other movements (2) | (1,208) | (33) | (699) | — | — | — | (1,940) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Translation | Translation | 117 | 6 | 4 | — | 1 | — | 128 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance at 31 December 2020 Restated (1) | Balance at 31 December 2020 Restated (1) | 3,119 | 2,930 | 156 | 5 | 26 | — | 6,236 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net book value at 31 December 2020 | Net book value at 31 December 2020 | 1,206 | 1,023 | 32 | 4 | 540 | 112 | 2,917 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | Cost | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance at 1 January 2021 Restated (1) | Balance at 1 January 2021 Restated (1) | 4,325 | 3,953 | 188 | 9 | 566 | 112 | 9,153 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Additions | Additions | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
- project capital | - project capital | 68 | — | — | 5 | 300 | 19 | 392 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
- stay-in-business capital | - stay-in-business capital | 274 | 17 | — | — | 344 | — | 635 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Finance costs capitalised (4) | Finance costs capitalised (4) | — | — | — | — | 14 | — | 14 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disposals | Disposals | (2) | (23) | — | — | — | (5) | (30) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transfers and other movements (2) | Transfers and other movements (2) | 140 | (207) | — | (2) | (320) | — | (389) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Translation | Translation | (107) | (6) | (3) | — | (5) | — | (121) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance at 31 December 2021 Restated (1) | Balance at 31 December 2021 Restated (1) | 4,698 | 3,734 | 185 | 12 | 899 | 126 | 9,654 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accumulated amortisation and impairments | Accumulated amortisation and impairments | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance at 1 January 2021 | Balance at 1 January 2021 | 3,119 | 2,930 | 156 | 5 | 26 | — | 6,236 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortisation for the year | Amortisation for the year | 397 | 233 | 2 | 1 | 0 | 1 | 634 | Amortisation for the year | 243 | 166 | 6 | 2 | — | — | 417 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Impairment and derecognition of assets (5) | Impairment and derecognition of assets (5) | 0 | 104 | 0 | 0 | 0 | 0 | 104 | Impairment and derecognition of assets(5) | — | 6 | — | — | — | — | 6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disposals | Disposals | (5) | (27) | 0 | (1) | 0 | (2) | (35) | Disposals | (1) | (22) | — | — | — | — | (23) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transfers and other movements(1) | (52) | (153) | 0 | 0 | 0 | 0 | (205) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transfers and other movements(2) | Transfers and other movements(2) | (79) | (311) | — | — | — | — | (390) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Translation | Translation | (135) | (42) | (6) | 0 | 1 | (2) | (184) | Translation | (78) | (4) | (3) | — | — | — | (85) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance at 31 December 2018 | 4,184 | 2,911 | 849 | 3 | 27 | 12 | 7,986 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net book value at 31 December 2018 | 1,490 | 1,301 | 39 | 1 | 485 | 65 | 3,381 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance at 1 January 2019 | 5,674 | 4,212 | 888 | 4 | 512 | 77 | 11,367 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Additions | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
- project capital | 43 | 0 | 0 | 1 | 281 | 14 | 339 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
- stay-in-business capital | 208 | 25 | 1 | 2 | 188 | 0 | 424 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disposals | (1) | (16) | 0 | 0 | 0 | 0 | (17) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transfers and other movements(1) | (259) | 219 | 1 | 0 | (489) | (16) | (544) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transfer to non-current assets and liabilities held for sale | (660) | (663) | (9) | 0 | (90) | (9) | (1,431) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Finance costs capitalised | 0 | 0 | 0 | 0 | 6 | 0 | 6 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Translation | (4) | (1) | 0 | 0 | (3) | 0 | (8) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance at 31 December 2019 | 5,001 | 3,776 | 881 | 7 | 405 | 66 | 10,136 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accumulated amortisation and impairments | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance at 1 January 2019 | 4,184 | 2,911 | 849 | 3 | 27 | 12 | 7,986 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortisation for the year | 392 | 215 | 1 | 1 | 0 | 0 | 609 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Impairment and derecognition of assets(5) | 243 | 172 | 0 | 0 | 90 | 0 | 505 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disposals | (1) | (15) | 0 | 0 | 0 | 0 | (16) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transfers and other movements(1) | (455) | (53) | 1 | 0 | (3) | (12) | (522) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transfer to non-current assets and liabilities held for sale | (488) | (422) | (5) | 0 | (88) | 0 | (1,003) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Translation | (9) | (5) | 0 | 0 | (1) | 0 | (15) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance at 31 December 2019 | 3,866 | 2,803 | 846 | 4 | 25 | 0 | 7,544 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net book value at 31 December 2019 | 1,135 | 973 | 35 | 3 | 380 | 66 | 2,592 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance at 31 December 2021 | Balance at 31 December 2021 | 3,204 | 2,765 | 159 | 7 | 26 | — | 6,161 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net book value at 31 December 2021 | Net book value at 31 December 2021 | 1,494 | 969 | 26 | 5 | 873 | 126 | 3,493 |
Figures in millions | Mine development costs | Mine infrastructure | Mineral rights and dumps | Exploration and evaluation assets | Assets under construction | Land and buildings(3) | Total | ||||||||||||||||||||||||||||||||||
US Dollars | |||||||||||||||||||||||||||||||||||||||||
Cost | |||||||||||||||||||||||||||||||||||||||||
Balance at 1 January 2022 | 4,698 | 3,734 | 185 | 12 | 899 | 126 | 9,654 | ||||||||||||||||||||||||||||||||||
Additions | |||||||||||||||||||||||||||||||||||||||||
- project capital | 121 | — | — | 1 | 255 | 1 | 378 | ||||||||||||||||||||||||||||||||||
- stay-in-business capital | 286 | 8 | — | — | 355 | 1 | 650 | ||||||||||||||||||||||||||||||||||
Finance costs capitalised (4) | — | — | — | — | 2 | — | 2 | ||||||||||||||||||||||||||||||||||
Acquisition of assets (5) | — | — | 614 | — | — | — | 614 | ||||||||||||||||||||||||||||||||||
Disposals | (2) | (14) | — | — | — | — | (16) | ||||||||||||||||||||||||||||||||||
Transfers and other movements(2) | 290 | 379 | — | (1) | (753) | 1 | (84) | ||||||||||||||||||||||||||||||||||
Translation | (120) | (8) | (4) | — | (1) | — | (133) | ||||||||||||||||||||||||||||||||||
Balance at 31 December 2022 | 5,273 | 4,099 | 795 | 12 | 757 | 129 | 11,065 | ||||||||||||||||||||||||||||||||||
Accumulated amortisation and impairments | |||||||||||||||||||||||||||||||||||||||||
Balance at 1 January 2022 | 3,204 | 2,765 | 159 | 7 | 26 | — | 6,161 | ||||||||||||||||||||||||||||||||||
Amortisation for the year | 374 | 174 | 8 | 1 | — | — | 557 | ||||||||||||||||||||||||||||||||||
Impairment and derecognition of assets(6) | 109 | 149 | 16 | — | — | 8 | 282 | ||||||||||||||||||||||||||||||||||
Disposals | (1) | (14) | — | — | — | — | (15) | ||||||||||||||||||||||||||||||||||
Transfers and other movements(2) | (11) | (23) | — | — | — | — | (34) | ||||||||||||||||||||||||||||||||||
Translation | (86) | (5) | (3) | (1) | — | — | (95) | ||||||||||||||||||||||||||||||||||
Balance at 31 December 2022 | 3,589 | 3,046 | 180 | 7 | 26 | 8 | 6,856 | ||||||||||||||||||||||||||||||||||
Net book value at 31 December 2022 | 1,684 | 1,053 | 615 | 5 | 731 | 121 | 4,209 |
Figures in millions | Mine development costs | Mine infra- structure(2) | Mineral rights and dumps | Exploration and evaluation assets | Assets under construction | Land and buildings(3)(4) | Total | ||||||||||||||||||||||||||||||||||
Cost | |||||||||||||||||||||||||||||||||||||||||
Balance at 1 January 2020 | 5,001 | 3,776 | 881 | 7 | 405 | 66 | 10,136 | ||||||||||||||||||||||||||||||||||
Additions | |||||||||||||||||||||||||||||||||||||||||
- project capital | 64 | 0 | 0 | 1 | 246 | 20 | 331 | ||||||||||||||||||||||||||||||||||
- stay-in-business capital | 180 | 8 | 1 | 0 | 179 | 2 | 370 | ||||||||||||||||||||||||||||||||||
Finance costs capitalised (5) | 0 | 0 | 0 | 0 | 17 | 0 | 17 | ||||||||||||||||||||||||||||||||||
Disposals | (1) | (26) | 0 | 0 | 0 | 0 | (27) | ||||||||||||||||||||||||||||||||||
Transfers and other movements(1) | (1,076) | 186 | (699) | 2 | (320) | 24 | (1,883) | ||||||||||||||||||||||||||||||||||
Translation | 157 | 9 | 5 | (1) | 6 | 0 | 176 | ||||||||||||||||||||||||||||||||||
Balance at 31 December 2020 | 4,325 | 3,953 | 188 | 9 | 533 | 112 | 9,120 | ||||||||||||||||||||||||||||||||||
Accumulated amortisation and impairments | |||||||||||||||||||||||||||||||||||||||||
Balance at 1 January 2020 | 3,866 | 2,803 | 846 | 4 | 25 | 0 | 7,544 | ||||||||||||||||||||||||||||||||||
Amortisation for the year | 345 | 179 | 5 | 1 | 0 | 0 | 530 | ||||||||||||||||||||||||||||||||||
Disposals | (1) | (25) | 0 | 0 | 0 | 0 | (26) | ||||||||||||||||||||||||||||||||||
Transfers and other movements(1) | (1,208) | (33) | (699) | 0 | 0 | 0 | (1,940) | ||||||||||||||||||||||||||||||||||
Translation | 117 | 6 | 4 | 0 | 1 | 0 | 128 | ||||||||||||||||||||||||||||||||||
Balance at 31 December 2020 | 3,119 | 2,930 | 156 | 5 | 26 | 0 | 6,236 | ||||||||||||||||||||||||||||||||||
Net book value at 31 December 2020 | 1,206 | 1,023 | 32 | 4 | 507 | 112 | 2,884 |
Figures in millions - US Dollars | 2019 (1) | 2018 | |||||||||
First Uranium - Mine Waste Solutions | 89 | 93 | |||||||||
Surface Operations | 18 | 1 | |||||||||
Mponeng | 384 | 4 | |||||||||
Covalent | 11 | 0 | |||||||||
Obuasi | 0 | 5 | |||||||||
Siguiri | 2 | 0 | |||||||||
AGA Mineração | 1 | 0 | |||||||||
Other | 0 | 1 | |||||||||
505 | 104 |
Cash Generating Unit | Mine Development Cost | Mine Infrastructure | Mineral Rights and Dumps | Land and buildings | Total Tangible Asset Impairment | Goodwill | Right of use assets | Total Impairment | ||||||||||||||||||||||||||||||||||||||||||
Figures in millions - US Dollars | 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||
Córrego do Sítio | 58 | 98 | 16 | 6 | 178 | — | 11 | 189 | ||||||||||||||||||||||||||||||||||||||||||
Cuiabá | 34 | 30 | — | 1 | 65 | — | 5 | 70 | ||||||||||||||||||||||||||||||||||||||||||
Serra Grande | 17 | 18 | — | 1 | 36 | 8 | 1 | 45 | ||||||||||||||||||||||||||||||||||||||||||
109 | 146 | 16 | 8 | 279 | 8 | 17 | 304 |
Sensitivity analysis -Impairment | Sensitivity analysis -Impairment | Cuiabá | Córrego do Sítio | Serra Grande | ||||||||||||||||||||||||
Figures in millions - US Dollars | Figures in millions - US Dollars | Carrying value | Value in use | Figures in millions - US Dollars | 2022 | |||||||||||||||||||||||
Kibali (1)(2) | 1,482 | 1,614 | ||||||||||||||||||||||||||
Assumed gold price and discount rate have a significant impact on the recoverable amount. A 1% change in the gold price and 1% absolute movement (discount rate) would have the following impact: | Assumed gold price and discount rate have a significant impact on the recoverable amount. A 1% change in the gold price and 1% absolute movement (discount rate) would have the following impact: | |||||||||||||||||||||||||||
Effect of increase in assumption: | Effect of increase in assumption: | |||||||||||||||||||||||||||
1% change in gold price | 1% change in gold price | 17 | 6 | 7 | ||||||||||||||||||||||||
1% absolute movement in discount rate | 1% absolute movement in discount rate | (21) | (2) | (6) | ||||||||||||||||||||||||
Effect of decrease in assumption: | Effect of decrease in assumption: | |||||||||||||||||||||||||||
1% change in gold price | 1% change in gold price | (17) | (6) | (7) | ||||||||||||||||||||||||
1% absolute movement in discount rate | 1% absolute movement in discount rate | 23 | 2 | 7 | ||||||||||||||||||||||||
Assumed cash flows have a significant impact on the recoverable amount of Cuiabá. (1) A one- and three-month delay in the net cash flows would have the following impact: | Assumed cash flows have a significant impact on the recoverable amount of Cuiabá. (1) A one- and three-month delay in the net cash flows would have the following impact: | |||||||||||||||||||||||||||
Effect of change in cash flow assumption: | Effect of change in cash flow assumption: | |||||||||||||||||||||||||||
One month movement in cash flows | One month movement in cash flows | (4) | ||||||||||||||||||||||||||
Three month movement in cash flows | Three month movement in cash flows | (13) |
Figures in millions - US Dollars | Mine Infra- structure | Land and buildings | Total | ||||||||||||||||||||||||||||||||||||||
Cost | |||||||||||||||||||||||||||||||||||||||||
Balance at 1 January 2020 | 209 | 24 | 233 | ||||||||||||||||||||||||||||||||||||||
Additions | 23 | — | 23 | ||||||||||||||||||||||||||||||||||||||
Derecognition and other movements (1) | (13) | 1 | (12) | ||||||||||||||||||||||||||||||||||||||
Translation | 14 | (1) | 13 | ||||||||||||||||||||||||||||||||||||||
Balance at 31 December 2020 | 233 | 24 | 257 | ||||||||||||||||||||||||||||||||||||||
Accumulated amortisation and impairments | |||||||||||||||||||||||||||||||||||||||||
Balance at 1 January 2020 | 61 | 14 | 75 | ||||||||||||||||||||||||||||||||||||||
Amortisation for the year | 45 | 2 | 47 | ||||||||||||||||||||||||||||||||||||||
Derecognition and other movements (1) | (11) | — | (11) | ||||||||||||||||||||||||||||||||||||||
Translation | 5 | (1) | 4 | ||||||||||||||||||||||||||||||||||||||
Balance at 31 December 2020 | 100 | 15 | 115 | ||||||||||||||||||||||||||||||||||||||
Net book value at 31 December 2020 | 133 | 9 | 142 | ||||||||||||||||||||||||||||||||||||||
Cost | |||||||||||||||||||||||||||||||||||||||||
Balance at 1 January 2021 | 233 | 24 | 257 | ||||||||||||||||||||||||||||||||||||||
Additions | 95 | 7 | 102 | ||||||||||||||||||||||||||||||||||||||
Derecognition and other movements(1) | (22) | (15) | (37) | ||||||||||||||||||||||||||||||||||||||
Translation | (9) | — | (9) | ||||||||||||||||||||||||||||||||||||||
Balance at 31 December 2021 | 297 | 16 | 313 | ||||||||||||||||||||||||||||||||||||||
Accumulated amortisation and impairments | |||||||||||||||||||||||||||||||||||||||||
Balance at 1 January 2021 | 100 | 15 | 115 | ||||||||||||||||||||||||||||||||||||||
Amortisation for the year | 61 | 2 | 63 | ||||||||||||||||||||||||||||||||||||||
Derecognition and other movements(1) | (22) | (15) | (37) | ||||||||||||||||||||||||||||||||||||||
Impairment | — | 1 | 1 | ||||||||||||||||||||||||||||||||||||||
Translation | (4) | — | (4) | ||||||||||||||||||||||||||||||||||||||
Balance at 31 December 2021 | 135 | 3 | 138 | ||||||||||||||||||||||||||||||||||||||
Net book value at 31 December 2021 | 162 | 13 | 175 | ||||||||||||||||||||||||||||||||||||||
Cost | |||||||||||||||||||||||||||||||||||||||||
Balance at 1 January 2022 | 297 | 16 | 313 | ||||||||||||||||||||||||||||||||||||||
Additions | 90 | 1 | 91 | ||||||||||||||||||||||||||||||||||||||
Derecognition and other movements(1) | (34) | — | (34) | ||||||||||||||||||||||||||||||||||||||
Translation | (8) | (2) | (10) | ||||||||||||||||||||||||||||||||||||||
Balance at 31 December 2022 | 345 | 15 | 360 | ||||||||||||||||||||||||||||||||||||||
Accumulated amortisation and impairments | |||||||||||||||||||||||||||||||||||||||||
Balance at 1 January 2022 | 135 | 3 | 138 | ||||||||||||||||||||||||||||||||||||||
Amortisation for the year | 78 | 3 | 81 | ||||||||||||||||||||||||||||||||||||||
Derecognition and other movements(1) | (29) | — | (29) | ||||||||||||||||||||||||||||||||||||||
Impairment (2) | 17 | — | 17 | ||||||||||||||||||||||||||||||||||||||
Translation | (4) | 1 | (3) | ||||||||||||||||||||||||||||||||||||||
Balance at 31 December 2022 | 197 | 7 | 204 | ||||||||||||||||||||||||||||||||||||||
Net book value at 31 December 2022 | 148 | 8 | 156 |
US dollar millions | Mine Infra- structure | Land and buildings | Total | ||||||||||||||||||||||||||||||||||||||
Cost | |||||||||||||||||||||||||||||||||||||||||
Impact of adopting IFRS 16 - 1 January 2019 | 119 | 9 | 128 | ||||||||||||||||||||||||||||||||||||||
Additions | |||||||||||||||||||||||||||||||||||||||||
- stay-in-business capital | 32 | 0 | 32 | ||||||||||||||||||||||||||||||||||||||
Transfers and other movements(1) | 58 | 15 | 73 | ||||||||||||||||||||||||||||||||||||||
Transfer to assets and liabilities held for sale | 0 | (1) | (1) | ||||||||||||||||||||||||||||||||||||||
Translation | 0 | 1 | 1 | ||||||||||||||||||||||||||||||||||||||
Balance at 31 December 2019 | 209 | 24 | 233 | ||||||||||||||||||||||||||||||||||||||
Accumulated amortisation and impairments | |||||||||||||||||||||||||||||||||||||||||
Balance at 1 January 2019 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||||||||||
Amortisation for the year | 40 | 2 | 42 | ||||||||||||||||||||||||||||||||||||||
Transfers and other movements(1) | 21 | 12 | 33 | ||||||||||||||||||||||||||||||||||||||
Balance at 31 December 2019 | 61 | 14 | 75 | ||||||||||||||||||||||||||||||||||||||
Net book value at 31 December 2019 | 148 | 10 | 158 | ||||||||||||||||||||||||||||||||||||||
Cost | |||||||||||||||||||||||||||||||||||||||||
Balance at 1 January 2020 | 209 | 24 | 233 | ||||||||||||||||||||||||||||||||||||||
Additions | |||||||||||||||||||||||||||||||||||||||||
- stay-in-business capital | 23 | 0 | 23 | ||||||||||||||||||||||||||||||||||||||
Derecognition and other movements | (13) | 1 | (12) | ||||||||||||||||||||||||||||||||||||||
Translation | 14 | (1) | 13 | ||||||||||||||||||||||||||||||||||||||
Balance at 31 December 2020 | 233 | 24 | 257 | ||||||||||||||||||||||||||||||||||||||
Accumulated amortisation and impairments | |||||||||||||||||||||||||||||||||||||||||
Balance at 1 January 2020 | 61 | 14 | 75 | ||||||||||||||||||||||||||||||||||||||
Amortisation for the year | 45 | 2 | 47 | ||||||||||||||||||||||||||||||||||||||
Derecognition of assets | (11) | 0 | (11) | ||||||||||||||||||||||||||||||||||||||
Translation | 5 | (1) | 4 | ||||||||||||||||||||||||||||||||||||||
Balance at 31 December 2020 | 100 | 15 | 115 | ||||||||||||||||||||||||||||||||||||||
Net book value at 31 December 2020 | 133 | 9 | 142 |
US dollar millions | 2020 | 2019 | ||||||
Amounts recognised in the income statement | ||||||||
Amortisation expense on right of use assets (note 4) | 47 | 42 | ||||||
Interest expense on lease liabilities (note 7) | 8 | 10 | ||||||
Expenses on short term leases | 107 | 83 | ||||||
Expenses on variable lease payments not included in the lease liabilities(1) | 234 | 220 | ||||||
Expenses on leases of low value assets(1) | 24 | 2 |
Figures in millions - US Dollars | 2022 | 2021 | 2020 | ||||||||
Amounts recognised in the income statement (1) | |||||||||||
Expenses on short term leases | 19 | 48 | 107 | ||||||||
Expenses on variable lease payments not included in the lease liabilities(2) | 749 | 302 | 234 | ||||||||
Expenses on leases of low value assets | 15 | 33 | 24 |
US Dollar million | 2020 | 2019 | ||||||
Reconciliation of lease liabilities | ||||||||
A reconciliation of the lease liabilities included in the statement of financial position is set out in the following table: | ||||||||
Opening balance | 171 | 0 | ||||||
Lease liabilities recognised | 23 | 160 | ||||||
Repayment of lease liabilities | (47) | (42) | ||||||
Finance costs paid on lease liabilities | (8) | (9) | ||||||
Interest charged to the income statement | 8 | 10 | ||||||
Reclassification of finance leases from borrowings | 0 | 60 | ||||||
Change in estimate | (1) | (5) | ||||||
Translation | 7 | (3) | ||||||
Closing balance | 153 | 171 | ||||||
Lease finance costs paid included in the statement of cash flows | 8 | 9 |
US Dollar million | 2020 | 2019 | ||||||
Maturity analysis of lease liabilities | ||||||||
Undiscounted cash flows | ||||||||
Less than and including 1 year | 43 | 52 | ||||||
Between 1 and 5 years | 83 | 89 | ||||||
Five years and more | 36 | 57 | ||||||
Total | 162 | 198 |
US Dollar million | 2020 | 2019 | ||||||
Lease liabilities | ||||||||
Non-current | 116 | 126 | ||||||
Current | 37 | 45 | ||||||
Total | 153 | 171 |
Figures in millions - US Dollars | 2022 | 2021 | 2020 | ||||||||
Reconciliation of lease liabilities (1) | |||||||||||
A reconciliation of the lease liabilities included in the statement of financial position is set out in the following table: | |||||||||||
Opening balance | 185 | 153 | 171 | ||||||||
Lease liabilities recognised | 90 | 103 | 23 | ||||||||
Repayment of lease liabilities | (82) | (63) | (47) | ||||||||
Finance costs paid on lease liabilities | (10) | (9) | (8) | ||||||||
Interest charged to the income statement | 11 | 9 | 8 | ||||||||
Modifications and terminations | (7) | — | (1) | ||||||||
Translation | (1) | (8) | 7 | ||||||||
Closing balance | 186 | 185 | 153 | ||||||||
Lease liabilities | |||||||||||
Non-current (note 34) | 102 | 124 | 116 | ||||||||
Current (note 34) | 84 | 61 | 37 | ||||||||
Total | 186 | 185 | 153 |
Figures in millions | Goodwill | Other | Total | ||||||||||||||||||||
US Dollars | |||||||||||||||||||||||
Cost | |||||||||||||||||||||||
Balance at 1 January 2018 | 127 | 172 | 299 | ||||||||||||||||||||
Additions | 0 | 1 | 1 | ||||||||||||||||||||
Disposals | 0 | (3) | (3) | ||||||||||||||||||||
Transfers and other movements(1) | 0 | 4 | 4 | ||||||||||||||||||||
Translation | (11) | (7) | (18) | ||||||||||||||||||||
Balance at 31 December 2018 | 116 | 167 | 283 | ||||||||||||||||||||
Accumulated amortisation and impairments | |||||||||||||||||||||||
Balance at 1 January 2018 | 0 | 161 | 161 | ||||||||||||||||||||
Amortisation for the year | 0 | 5 | 5 | ||||||||||||||||||||
Disposals | 0 | (3) | (3) | ||||||||||||||||||||
Transfers and other movements(1) | 0 | 4 | 4 | ||||||||||||||||||||
Translation | 0 | (7) | (7) | ||||||||||||||||||||
Balance at 31 December 2018 | 0 | 160 | 160 | ||||||||||||||||||||
Net book value at 31 December 2018 | 116 | 7 | 123 | ||||||||||||||||||||
Cost | |||||||||||||||||||||||
Balance at 1 January 2019 | 116 | 167 | 283 | ||||||||||||||||||||
Transfer to assets and liabilities held for sale | 0 | (26) | (26) | ||||||||||||||||||||
Transfers and other movements(1) | 0 | 3 | 3 | ||||||||||||||||||||
Balance at 31 December 2019 | 116 | 144 | 260 | ||||||||||||||||||||
Accumulated amortisation and impairments | |||||||||||||||||||||||
Balance at 1 January 2019 | 0 | 160 | 160 | ||||||||||||||||||||
Amortisation for the year | 0 | 3 | 3 | ||||||||||||||||||||
Transfer to assets and liabilities held for sale | 0 | (26) | (26) | ||||||||||||||||||||
Balance at 31 December 2019 | 0 | 137 | 137 | ||||||||||||||||||||
Net book value at 31 December 2019 | 116 | 7 | 123 | ||||||||||||||||||||
Cost | |||||||||||||||||||||||
Balance at 1 January 2020 | 116 | 144 | 260 | ||||||||||||||||||||
Additions | 0 | 1 | 1 | ||||||||||||||||||||
Transfers and other movements(1) | 0 | (49) | (49) | ||||||||||||||||||||
Translation | 10 | 0 | 10 | ||||||||||||||||||||
Balance at 31 December 2020 | 126 | 96 | 222 | ||||||||||||||||||||
Accumulated amortisation and impairments | |||||||||||||||||||||||
Balance at 1 January 2020 | 0 | 137 | 137 | ||||||||||||||||||||
Amortisation for the year | 0 | 2 | 2 | ||||||||||||||||||||
Transfers and other movements (1) | 0 | (49) | (49) | ||||||||||||||||||||
Translation | 0 | 1 | 1 | ||||||||||||||||||||
Balance at 31 December 2020 | 0 | 91 | 91 | ||||||||||||||||||||
Net book value at 31 December 2020 | 126 | 5 | 131 |
Figures in millions | Goodwill | Other | Total | ||||||||||||||||||||
US Dollars | |||||||||||||||||||||||
Cost | |||||||||||||||||||||||
Balance at 1 January 2020 | 116 | 144 | 260 | ||||||||||||||||||||
Additions | — | 1 | 1 | ||||||||||||||||||||
Transfers and other movements(1) | — | (49) | (49) | ||||||||||||||||||||
Translation | 10 | — | 10 | ||||||||||||||||||||
Balance at 31 December 2020 | 126 | 96 | 222 | ||||||||||||||||||||
Accumulated amortisation and impairments | |||||||||||||||||||||||
Balance at 1 January 2020 | — | 137 | 137 | ||||||||||||||||||||
Amortisation for the year | — | 2 | 2 | ||||||||||||||||||||
Transfers and other movements(1) | — | (49) | (49) | ||||||||||||||||||||
Translation | — | 1 | 1 | ||||||||||||||||||||
Balance at 31 December 2020 | — | 91 | 91 | ||||||||||||||||||||
Net book value at 31 December 2020 | 126 | 5 | 131 | ||||||||||||||||||||
Cost | |||||||||||||||||||||||
Balance at 1 January 2021 | 126 | 96 | 222 | ||||||||||||||||||||
Additions | — | 1 | 1 | ||||||||||||||||||||
Transfers and other movements(1) | — | (1) | (1) | ||||||||||||||||||||
Translation | (7) | (1) | (8) | ||||||||||||||||||||
Balance at 31 December 2021 | 119 | 95 | 214 | ||||||||||||||||||||
Accumulated amortisation and impairments | |||||||||||||||||||||||
Balance at 1 January 2021 | — | 91 | 91 | ||||||||||||||||||||
Amortisation for the year | — | 3 | 3 | ||||||||||||||||||||
Transfers and other movements(1) | — | (1) | (1) | ||||||||||||||||||||
Translation | — | (1) | (1) | ||||||||||||||||||||
Balance at 31 December 2021 | — | 92 | 92 | ||||||||||||||||||||
Net book value at 31 December 2021 | 119 | 3 | 122 | ||||||||||||||||||||
Cost | |||||||||||||||||||||||
Balance at 1 January 2022 | 119 | 95 | 214 | ||||||||||||||||||||
Additions | — | 1 | 1 | ||||||||||||||||||||
Translation | (6) | (1) | (7) | ||||||||||||||||||||
Balance at 31 December 2022 | 113 | 95 | 208 | ||||||||||||||||||||
Accumulated amortisation and impairments | |||||||||||||||||||||||
Balance at 1 January 2022 | — | 92 | 92 | ||||||||||||||||||||
Amortisation for the year | — | 1 | 1 | ||||||||||||||||||||
Impairment of Goodwill (2) | 8 | — | 8 | ||||||||||||||||||||
Translation | — | 1 | 1 | ||||||||||||||||||||
Balance at 31 December 2022 | 8 | 94 | 102 | ||||||||||||||||||||
Net book value at 31 December 2022 | 105 | 1 | 106 |
2020 | |||||||||||
US Dollars | |||||||||||
Figures in millions | Carrying Value | Value in use | |||||||||
Sunrise Dam | 229 | 538 |
2022 | |||||||||||
US Dollars | |||||||||||
Figures in millions | Carrying Value | Value in use | |||||||||
Sunrise Dam | 230 | 293 |
US Dollars | |||||||||||||||||
Figures in millions | 2020 | 2019 | 2018 | ||||||||||||||
- Sunrise Dam | 118 | 108 | 108 | ||||||||||||||
- Serra Grande | 8 | 8 | 8 | ||||||||||||||
126 | 116 | 116 | |||||||||||||||
Real pre-tax discount rates applied in impairment calculations on the CGU for which the carrying amount of goodwill is significant is as follows: | |||||||||||||||||
- Sunrise Dam (1) | 8.7 | % | 10.8 | % | 8.3 | % |
US Dollars | |||||||||||||||||
Figures in millions | 2022 | 2021 | 2020 | ||||||||||||||
- Sunrise Dam | 105 | 111 | 118 | ||||||||||||||
- Serra Grande | — | 8 | 8 | ||||||||||||||
105 | 119 | 126 | |||||||||||||||
Real post-tax discount rates applied in impairment calculations on the CGU for which the carrying amount of goodwill is significant is as follows: | |||||||||||||||||
- Sunrise Dam (1) | 4.6 | % | 2.4 | % | 5.4 | % |
Name | Name | Non-controlling interest holding | Country of incorporation and operation | Name | Non-controlling interest holding | Country of incorporation and operation | ||||||||||||||||||||||||||||||||||||||||
2020 | 2019 | 2018 | 2022 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||||||
Cerro Vanguardia S.A. (CVSA) | Cerro Vanguardia S.A. (CVSA) | 7.5 | % | 7.5 | % | 7.5 | % | Argentina | Cerro Vanguardia S.A. (CVSA) | 7.5 | % | 7.5 | % | 7.5 | % | Argentina | ||||||||||||||||||||||||||||||
Société AngloGold Ashanti de Guinée S.A. (Siguiri) | Société AngloGold Ashanti de Guinée S.A. (Siguiri) | 15 | % | 15 | % | 15 | % | Republic of Guinea | Société AngloGold Ashanti de Guinée S.A. (Siguiri) | 15 | % | 15 | % | 15 | % | Republic of Guinea |
US Dollars | |||||||||||||||||
Figures in millions | 2020 | 2019 | 2018 | ||||||||||||||
Profit (loss) allocated to material non-controlling interests | |||||||||||||||||
CVSA | 8 | 5 | 9 | ||||||||||||||
Siguiri | 10 | 0 | 8 | ||||||||||||||
Accumulated balances of material non-controlling interests | |||||||||||||||||
CVSA | 14 | 13 | 14 | ||||||||||||||
Siguiri | 31 | 23 | 32 |
US Dollars | |||||||||||||||||
Figures in millions | 2022 | 2021 | 2020 | ||||||||||||||
Profit (loss) allocated to material non-controlling interests | |||||||||||||||||
CVSA | 7 | 5 | 8 | ||||||||||||||
Siguiri | 12 | 19 | 10 | ||||||||||||||
Accumulated balances of material non-controlling interests | |||||||||||||||||
CVSA | 11 | 11 | 14 | ||||||||||||||
Siguiri | 23 | 41 | 31 |
US Dollars | |||||||||||
Figures in millions | CVSA | Siguiri | |||||||||
Statement of profit or loss for 2020 | |||||||||||
Revenue | 440 | 453 | |||||||||
Profit (loss) for the year | 84 | 68 | |||||||||
Total comprehensive income (loss) for the year, net of tax | 84 | 68 | |||||||||
Attributable to non-controlling interests | 8 | 10 | |||||||||
Dividends paid to non-controlling interests | (6) | (3) | |||||||||
Statement of profit or loss for 2019 | |||||||||||
Revenue | 390 | 349 | |||||||||
Profit (loss) for the year | 68 | 1 | |||||||||
Total comprehensive income (loss) for the year, net of tax | 68 | 1 | |||||||||
Attributable to non-controlling interests | 5 | 0 | |||||||||
Dividends paid to non-controlling interests | (7) | (9) | |||||||||
Statement of profit or loss for 2018 | |||||||||||
Revenue | 498 | 365 | |||||||||
Profit (loss) for the year | 119 | 56 | |||||||||
Total comprehensive income (loss) for the year, net of tax | 119 | 56 | |||||||||
Attributable to non-controlling interests | 9 | 8 | |||||||||
Dividends paid to non-controlling interests | (7) | (8) |
US Dollars | |||||||||||
Figures in millions | CVSA | Siguiri | |||||||||
Statement of profit or loss for 2022 | |||||||||||
Revenue | 395 | 591 | |||||||||
Profit (loss) for the year | 101 | 78 | |||||||||
Total comprehensive income (loss) for the year, net of tax | 101 | 78 | |||||||||
Attributable to non-controlling interests | 7 | 12 | |||||||||
Dividends paid to non-controlling interests | (7) | (15) | |||||||||
Statement of profit or loss for 2021 | |||||||||||
Revenue | 371 | 546 | |||||||||
Profit (loss) for the year | 75 | 124 | |||||||||
Total comprehensive income (loss) for the year, net of tax | 75 | 124 | |||||||||
Attributable to non-controlling interests | 5 | 19 | |||||||||
Dividends paid to non-controlling interests | (8) | (8) | |||||||||
Statement of profit or loss for 2020 | |||||||||||
Revenue | 440 | 453 | |||||||||
Profit (loss) for the year | 84 | 68 | |||||||||
Total comprehensive income (loss) for the year, net of tax | 84 | 68 | |||||||||
Attributable to non-controlling interests | 8 | 10 | |||||||||
Dividends paid to non-controlling interests | (6) | (3) |
US Dollars | |||||||||||
Figures in millions | CVSA | Siguiri | |||||||||
Statement of financial position as at 31 December 2022 | |||||||||||
Non-current assets | 256 | 199 | |||||||||
Current assets (1) | 260 | 248 | |||||||||
Non-current liabilities | (144) | (131) | |||||||||
Current liabilities | (225) | (165) | |||||||||
Total equity | 147 | 151 | |||||||||
Statement of financial position as at 31 December 2021 | |||||||||||
Non-current assets | 240 | 229 | |||||||||
Current assets(1) | 252 | 234 | |||||||||
Non-current liabilities | (132) | (68) | |||||||||
Current liabilities | (218) | (122) | |||||||||
Total equity | 142 | 273 | |||||||||
Statement of financial position as at 31 December 2020 | |||||||||||
Non-current assets | 202 | 233 | |||||||||
Current assets(1) | 254 | 224 | |||||||||
Non-current liabilities | (123) | (138) | |||||||||
Current liabilities | (150) | (117) | |||||||||
Total equity | 183 | 202 | |||||||||
Statement of cash flows for the year ended 31 December 2022 | |||||||||||
Cash inflow (outflow) from operating activities | 142 | 140 | |||||||||
Cash inflow (outflow) from investing activities | (5) | (27) | |||||||||
Cash inflow (outflow) from financing activities | (94) | (98) | |||||||||
Net increase (decrease) in cash and cash equivalents | 43 | 15 | |||||||||
Statement of cash flows for the year ended 31 December 2021 | |||||||||||
Cash inflow (outflow) from operating activities | 165 | 197 | |||||||||
Cash inflow (outflow) from investing activities | (23) | (38) | |||||||||
Cash inflow (outflow) from financing activities | (112) | (143) | |||||||||
Net increase (decrease) in cash and cash equivalents | 30 | 16 | |||||||||
Statement of cash flows for the year ended 31 December 2020 | |||||||||||
Cash inflow (outflow) from operating activities | 169 | 63 | |||||||||
Cash inflow (outflow) from investing activities | (16) | (30) | |||||||||
Cash inflow (outflow) from financing activities | (59) | (11) | |||||||||
Net increase (decrease) in cash and cash equivalents | 94 | 22 |
US Dollars | |||||||||||
Figures in millions | CVSA | Siguiri | |||||||||
Statement of financial position as at 31 December 2020 | |||||||||||
Non-current assets | 202 | 233 | |||||||||
Current assets (1) | 254 | 224 | |||||||||
Non-current liabilities | (123) | (138) | |||||||||
Current liabilities | (150) | (117) | |||||||||
Total equity | 183 | 202 | |||||||||
Statement of financial position as at 31 December 2019 | |||||||||||
Non-current assets | 177 | 245 | |||||||||
Current assets | 202 | 170 | |||||||||
Non-current liabilities | (120) | (141) | |||||||||
Current liabilities | (82) | (121) | |||||||||
Total equity | 177 | 153 | |||||||||
Statement of financial position as at 31 December 2018 | |||||||||||
Non-current assets | 176 | 257 | |||||||||
Current assets | 215 | 157 | |||||||||
Non-current liabilities | (112) | (64) | |||||||||
Current liabilities | (78) | (137) | |||||||||
Total equity | 201 | 213 | |||||||||
Statement of cash flows for the year ended 31 December 2020 | |||||||||||
Cash inflow (outflow) from operating activities | 169 | 63 | |||||||||
Cash inflow (outflow) from investing activities | (16) | (30) | |||||||||
Cash inflow (outflow) from financing activities | (59) | (11) | |||||||||
Net increase (decrease) in cash and cash equivalents | 94 | 22 | |||||||||
Statement of cash flows for the year ended 31 December 2019 | |||||||||||
Cash inflow (outflow) from operating activities | 107 | 46 | |||||||||
Cash inflow (outflow) from investing activities | (30) | (22) | |||||||||
Cash inflow (outflow) from financing activities | (47) | (30) | |||||||||
Net increase (decrease) in cash and cash equivalents | 30 | (6) | |||||||||
Statement of cash flows for the year ended 31 December 2018 | |||||||||||
Cash inflow (outflow) from operating activities | 179 | 84 | |||||||||
Cash inflow (outflow) from investing activities | (36) | (96) | |||||||||
Cash inflow (outflow) from financing activities | (140) | (6) | |||||||||
Net increase (decrease) in cash and cash equivalents | 3 | (18) |
US Dollars | |||||||||||||||||
Figures in millions | 2020 | 2019 | 2018 | ||||||||||||||
Carrying value | |||||||||||||||||
Investments in associates | 47 | 40 | 36 | ||||||||||||||
Investments in joint ventures | 1,604 | 1,541 | 1,492 | ||||||||||||||
1,651 | 1,581 | 1,528 |
US Dollars | |||||||||||||||||
Figures in millions | 2022 | 2021 | 2020 | ||||||||||||||
Carrying value | |||||||||||||||||
Investments in associates | 37 | 43 | 47 | ||||||||||||||
Investments in joint ventures | 1,063 | 1,604 | 1,604 | ||||||||||||||
1,100 | 1,647 | 1,651 |
US Dollars | |||||||||||||||||
Figures in millions | 2020 | 2019 | 2018 | ||||||||||||||
Aggregate statement of profit or loss for associates (attributable) | |||||||||||||||||
Revenue | 29 | 20 | 19 | ||||||||||||||
Operating (expenses) income (1) | (6) | 3 | (4) | ||||||||||||||
Taxation | 0 | 0 | (1) | ||||||||||||||
Profit (loss) for the year | 23 | 23 | 14 | ||||||||||||||
Total comprehensive profit (loss) for the year, net of tax | 23 | 23 | 14 |
US Dollars | |||||||||||||||||
Figures in millions | 2022 | 2021 | 2020 | ||||||||||||||
Aggregate statement of profit or loss for associates (attributable) | |||||||||||||||||
Revenue | 31 | 36 | 29 | ||||||||||||||
Operating (expenses) income (1) | (14) | (16) | (6) | ||||||||||||||
Taxation | (3) | (2) | — | ||||||||||||||
Profit (loss) for the year | 14 | 18 | 23 | ||||||||||||||
Total comprehensive profit (loss) for the year, net of tax | 14 | 18 | 23 |
Name | Effective % | Description | Country of incorporation and operation | ||||||||||||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||||||||||||||
Kibali Goldmines S.A.(1) | 45.0 | 45.0 | 45.0 | Exploration and mine development | The Democratic Republic of the Congo |
Name | Effective % | Description | Country of incorporation and operation | ||||||||||||||||||||||||||
2022 | 2021 | 2020 | |||||||||||||||||||||||||||
Kibali Goldmines S.A.(1) | 45.0 | 45.0 | 45.0 | Exploration and mine development | The Democratic Republic of the Congo |
US Dollars | US Dollars | |||||||||||||||||||||||||||||||||
Figures in millions | Figures in millions | 2020 | 2019 | 2018 | Figures in millions | 2022 | 2021 | 2020 | ||||||||||||||||||||||||||
Carrying value of joint ventures | Carrying value of joint ventures | Carrying value of joint ventures | ||||||||||||||||||||||||||||||||
Kibali | Kibali | 1,604 | 1,506 | 1,439 | Kibali | 1,063 | 1,604 | 1,604 | ||||||||||||||||||||||||||
Immaterial joint ventures | 0 | 35 | 53 | |||||||||||||||||||||||||||||||
1,604 | 1,541 | 1,492 | ||||||||||||||||||||||||||||||||
Reversal (impairment) of investments in joint ventures | ||||||||||||||||||||||||||||||||||
Sadiola (note 8) (2) | 0 | 6 | 14 | |||||||||||||||||||||||||||||||
(Impairment) reversal of investments in joint ventures | (Impairment) reversal of investments in joint ventures | |||||||||||||||||||||||||||||||||
Yatela (note 7) | Yatela (note 7) | (1) | — | — | ||||||||||||||||||||||||||||||
The cumulative unrecognised share of losses of the joint ventures: | The cumulative unrecognised share of losses of the joint ventures: | |||||||||||||||||||||||||||||||||
Yatela | Yatela | 2 | 2 | 1 |
US Dollars | |||||||||||||||||
Figures in millions | 2020 | 2019 | 2018 | ||||||||||||||
The cumulative unrecognised share of losses of the joint ventures: | |||||||||||||||||
Morila (3) | 0 | 8 | 8 | ||||||||||||||
Yatela | 1 | 2 | 3 |
US Dollars | |||||||||||||||||
Figures in millions | 2022 | 2021 | 2020 | ||||||||||||||
Statement of profit or loss | |||||||||||||||||
Revenue and other income | 1,329 | 1,470 | 1,443 | ||||||||||||||
Other operating costs and expenses | (588) | (551) | (541) | ||||||||||||||
Amortisation of tangible and intangible assets | (208) | (244) | (241) | ||||||||||||||
Finance costs, unwinding of obligations and cash repatriation fee | (50) | (6) | (6) | ||||||||||||||
Interest received | 5 | 6 | 7 | ||||||||||||||
Taxation | (156) | (181) | (157) | ||||||||||||||
Profit for the year | 332 | 494 | 505 | ||||||||||||||
Total comprehensive income for the year, net of tax | 332 | 494 | 505 | ||||||||||||||
Dividends received from joint venture (attributable) | 694 | 231 | 140 |
US Dollars | |||||||||||||||||
Kibali | |||||||||||||||||
Figures in millions | 2020 | 2019 | 2018 | ||||||||||||||
Statement of profit or loss | |||||||||||||||||
Revenue | 1,443 | 1,123 | 1,098 | ||||||||||||||
Other operating costs and expenses | (541) | (479) | (539) | ||||||||||||||
Amortisation of tangible and intangible assets | (241) | (282) | (330) | ||||||||||||||
Finance costs and unwinding of obligations | (6) | (4) | (4) | ||||||||||||||
Interest received | 7 | 4 | 3 | ||||||||||||||
Taxation | (157) | (62) | (16) | ||||||||||||||
Profit for the year | 505 | 300 | 212 | ||||||||||||||
Total comprehensive income for the year, net of tax | 505 | 300 | 212 | ||||||||||||||
Dividends received from joint venture (attributable) | 140 | 75 | 89 |
US Dollars | |||||||||||||||||
Kibali | |||||||||||||||||
Figures in millions | 2020 | 2019 | 2018 | ||||||||||||||
Statement of financial position | |||||||||||||||||
Non-current assets | 2,459 | 2,522 | 2,659 | ||||||||||||||
Current assets | 120 | 183 | 205 | ||||||||||||||
Cash and cash equivalents (1) | 944 | 453 | 124 | ||||||||||||||
Total assets | 3,523 | 3,158 | 2,988 | ||||||||||||||
Non-current financial liabilities | 50 | 45 | 29 | ||||||||||||||
Other non-current liabilities | 118 | 26 | 24 | ||||||||||||||
Current financial liabilities | 15 | 11 | 11 | ||||||||||||||
Other current liabilities | 106 | 66 | 64 | ||||||||||||||
Total liabilities | 289 | 148 | 128 | ||||||||||||||
Net assets | 3,234 | 3,010 | 2,860 | ||||||||||||||
Group’s share of net assets | 1,617 | 1,505 | 1,430 | ||||||||||||||
Other | (13) | 1 | 9 | ||||||||||||||
Carrying amount of interest in joint venture | 1,604 | 1,506 | 1,439 |
US Dollars | |||||||||||||||||
Figures in millions | 2022 | 2021 | 2020 | ||||||||||||||
Statement of financial position | |||||||||||||||||
Non-current assets | 2,420 | 2,361 | 2,459 | ||||||||||||||
Current assets | 201 | 162 | 120 | ||||||||||||||
Cash and cash equivalents (2) | 92 | 1,115 | 944 | ||||||||||||||
Total assets | 2,713 | 3,638 | 3,523 | ||||||||||||||
Non-current financial liabilities | 51 | 44 | 50 | ||||||||||||||
Other non-current liabilities | 320 | 226 | 118 | ||||||||||||||
Current financial liabilities | 56 | 14 | 15 | ||||||||||||||
Other current liabilities | 105 | 107 | 106 | ||||||||||||||
Total liabilities | 532 | 391 | 289 | ||||||||||||||
Net assets | 2,181 | 3,247 | 3,234 | ||||||||||||||
Group’s share of net assets | 1,091 | 1,624 | 1,617 | ||||||||||||||
Other (3) | (28) | (20) | (13) | ||||||||||||||
Carrying amount of interest in joint venture | 1,063 | 1,604 | 1,604 |
US Dollars | |||||||||||||||||
Figures in millions | 2020 | 2019 | 2018 | ||||||||||||||
Aggregate statement of profit (loss) for immaterial joint ventures (attributable) | |||||||||||||||||
Revenue | 0 | 111 | 112 | ||||||||||||||
Other operating costs and expenses | (2) | (94) | (92) | ||||||||||||||
Amortisation of tangible and intangible assets | 0 | (7) | (15) | ||||||||||||||
Profit on sale of joint ventures | 19 | 0 | 0 | ||||||||||||||
Taxation | 0 | (7) | (2) | ||||||||||||||
Profit (loss) for the year | 17 | 3 | 3 | ||||||||||||||
Total comprehensive income (loss) for the year, net of tax | 17 | 3 | 3 |
US Dollars | |||||||||||||||||
Figures in millions | 2022 | 2021 | 2020 | ||||||||||||||
Listed investments (1) | |||||||||||||||||
Non-current investments | |||||||||||||||||
Equity investments at fair value through OCI (FVTOCI) | |||||||||||||||||
Balance at beginning of year | 116 | 186 | 72 | ||||||||||||||
Additions | 16 | 3 | 9 | ||||||||||||||
Capitalised to tangible assets (2) | (80) | — | — | ||||||||||||||
Fair value adjustments (3) | (50) | (73) | 98 | ||||||||||||||
Transfer from unlisted non-current investments | — | — | 7 | ||||||||||||||
Balance at end of year | 2 | 116 | 186 | ||||||||||||||
The non-current equity investments consist of ordinary shares and collective investment schemes and primarily comprise: | |||||||||||||||||
Corvus Gold Inc. | — | 80 | 59 | ||||||||||||||
Pure Gold Mining | 1 | 35 | 126 | ||||||||||||||
Other | 1 | 1 | 1 | ||||||||||||||
2 | 116 | 186 |
Book value of listed investments | 2 | 116 | 186 | ||||||||||||||
Unlisted investments | |||||||||||||||||
Non-current investments | |||||||||||||||||
Balance at beginning of year | 1 | 2 | 4 | ||||||||||||||
Transfer to listed non-current investments | — | — | (7) | ||||||||||||||
Fair value adjustments - FVTPL | — | (1) | 5 | ||||||||||||||
Balance at end of year | 1 | 1 | 2 | ||||||||||||||
The unlisted investments include: | |||||||||||||||||
Book value of unlisted investments | 1 | 1 | 2 | ||||||||||||||
Total book value of other investments | 3 | 117 | 188 | ||||||||||||||
US Dollars | |||||||||||||||||
Figures in millions | 2022 | 2021 | 2020 | ||||||||||||||
Non-current | |||||||||||||||||
Raw materials - ore stockpiles | 5 | 27 | 69 | ||||||||||||||
Current | |||||||||||||||||
Raw materials | |||||||||||||||||
- ore stockpiles | 225 | 217 | 262 | ||||||||||||||
- heap-leach inventory | 10 | 6 | 5 | ||||||||||||||
Work in progress | |||||||||||||||||
- metals in process | 66 | 49 | 46 | ||||||||||||||
Finished goods | |||||||||||||||||
- gold doré/bullion | 51 | 29 | 42 | ||||||||||||||
- by-products | 2 | 1 | — | ||||||||||||||
Total metal inventories | 354 | 302 | 355 | ||||||||||||||
Mine operating supplies | 419 | 401 | 378 | ||||||||||||||
773 | 703 | 733 | |||||||||||||||
Total inventories(1) | 778 | 730 | 802 |
US Dollars | |||||||||||||||||
Figures in millions | 2022 | 2021 | 2020 | ||||||||||||||
Non-current | |||||||||||||||||
Deferred compensation asset | 12 | 25 | 28 | ||||||||||||||
Prepayments | 19 | 14 | 12 | ||||||||||||||
Recoverable tax, rebates, levies and duties (1) | 200 | 198 | 195 | ||||||||||||||
231 | 237 | 235 | |||||||||||||||
Current | |||||||||||||||||
Trade and loan receivables | 20 | 50 | 56 | ||||||||||||||
Prepayments | 58 | 41 | 56 | ||||||||||||||
Recoverable tax, rebates, levies and duties (1) | 148 | 155 | 100 | ||||||||||||||
Other receivables | 11 | 14 | 17 | ||||||||||||||
237 | 260 | 229 | |||||||||||||||
Total trade, other receivables and other assets | 468 | 497 | 464 | ||||||||||||||
There is a concentration of risk in respect of amounts due from Revenue Authorities for recoverable tax, rebates, levies and duties from subsidiaries in the Africa Region segment. These values are summarised as follows: | |||||||||||||||||
Recoverable value added tax | 231 | 212 | 215 | ||||||||||||||
Appeal deposits | 43 | 43 | 34 |
US Dollars | |||||||||||||||||
Figures in millions | 2020 | 2019 | 2018 | ||||||||||||||
Listed investments (1) | |||||||||||||||||
Non-current investments | |||||||||||||||||
Equity investments at fair value through profit and loss (FVTPL) | |||||||||||||||||
Balance at end of year | 0 | 0 | 19 | ||||||||||||||
Equity investments at fair value though OCI (FVTOCI) | |||||||||||||||||
Balance at beginning of year | 72 | 63 | 47 | ||||||||||||||
Additions | 9 | 9 | 13 | ||||||||||||||
Disposals | 0 | 0 | (7) | ||||||||||||||
Fair value adjustments | 98 | 0 | 10 | ||||||||||||||
Transfer from unlisted non-current investments | 7 | 0 | 0 | ||||||||||||||
Balance at end of year | 186 | 72 | 63 | ||||||||||||||
The non-current equity investments consist of ordinary shares and collective investment schemes and primarily comprise: | |||||||||||||||||
Corvus Gold Corporation | 59 | 41 | 43 | ||||||||||||||
Various listed investments held by Environmental Rehabilitation Trust Fund | 0 | 0 | 16 | ||||||||||||||
Pure Gold Mining | 126 | 31 | 18 | ||||||||||||||
Other | 1 | 0 | 5 | ||||||||||||||
186 | 72 | 82 |
US Dollars | |||||||||||||||||
Figures in millions | 2020 | 2019 | 2018 | ||||||||||||||
Listed investments (continued) | |||||||||||||||||
Non-current investments (continued) | |||||||||||||||||
Investments at amortised cost - Non-current | |||||||||||||||||
Balance at end of year | 0 | 0 | 12 | ||||||||||||||
Current investments | |||||||||||||||||
Listed investments - FVTOCI (1) (2) | 0 | 10 | 6 | ||||||||||||||
Book value of listed investments | 186 | 82 | 100 | ||||||||||||||
Unlisted investments | |||||||||||||||||
Non-current investments | |||||||||||||||||
Balance at beginning of year | 4 | 47 | 54 | ||||||||||||||
Additions | 0 | 45 | 48 | ||||||||||||||
Maturities | 0 | (44) | (45) | ||||||||||||||
Transfer to non-current assets and liabilities held for sale | 0 | (48) | 0 | ||||||||||||||
Transfer to listed non-current investments | (7) | 0 | 0 | ||||||||||||||
Fair value adjustment - FVTOCI | 0 | 2 | 0 | ||||||||||||||
Fair value adjustments - FVTPL | 5 | 0 | 0 | ||||||||||||||
Other | 0 | 0 | (2) | ||||||||||||||
Translation | 0 | 2 | (8) | ||||||||||||||
Balance at end of year | 2 | 4 | 47 | ||||||||||||||
The unlisted investments include: | |||||||||||||||||
Book value of unlisted investments | 2 | 4 | 47 | ||||||||||||||
Non-current other investments | 188 | 76 | 141 | ||||||||||||||
Total book value of other investments | 188 | 86 | 147 | ||||||||||||||
US Dollars | |||||||||||||||||
Figures in millions | 2020 | 2019 | 2018 | ||||||||||||||
Non-current | |||||||||||||||||
Raw materials - ore stockpiles | 69 | 93 | 106 | ||||||||||||||
Current | |||||||||||||||||
Raw materials | |||||||||||||||||
- ore stockpiles | 262 | 229 | 251 | ||||||||||||||
- heap-leach inventory | 5 | 4 | 3 | ||||||||||||||
Work in progress | |||||||||||||||||
- metals in process | 46 | 51 | 44 | ||||||||||||||
Finished goods | |||||||||||||||||
- gold doré/bullion | 42 | 42 | 57 | ||||||||||||||
- by-products | 0 | 1 | 0 | ||||||||||||||
Total metal inventories | 355 | 327 | 355 | ||||||||||||||
Mine operating supplies | 378 | 305 | 297 | ||||||||||||||
733 | 632 | 652 | |||||||||||||||
Total inventories(1) | 802 | 725 | 758 |
US Dollars | |||||||||||||||||
Figures in millions | 2020 | 2019 | 2018 | ||||||||||||||
Non-current | |||||||||||||||||
Deferred compensation asset | 28 | 0 | 0 | ||||||||||||||
Prepayments | 12 | 15 | 18 | ||||||||||||||
Recoverable tax, rebates, levies and duties | 195 | 107 | 84 | ||||||||||||||
235 | 122 | 102 | |||||||||||||||
Current | |||||||||||||||||
Trade and loan receivables | 56 | 47 | 33 | ||||||||||||||
Prepayments | 56 | 61 | 42 | ||||||||||||||
Recoverable tax, rebates, levies and duties (1) | 100 | 130 | 116 | ||||||||||||||
Other receivables | 17 | 12 | 18 | ||||||||||||||
229 | 250 | 209 | |||||||||||||||
Total trade, other receivables and other assets | 464 | 372 | 311 | ||||||||||||||
There is a concentration of risk in respect of amounts due from Revenue Authorities for recoverable tax, rebates, levies and duties from subsidiaries in the Africa Region segment. These values are summarised as follows: | |||||||||||||||||
Recoverable value added tax | 215 | 167 | 126 | ||||||||||||||
Recoverable fuel duties(2) | 0 | 43 | 41 | ||||||||||||||
Appeal deposits | 34 | 10 | 10 |
US Dollars | |||||||||||||||||
Figures in millions | 2022 | 2021 | 2020 | ||||||||||||||
Non-current | |||||||||||||||||
Cash restricted for environmental and rehabilitation obligations (1) | 33 | 32 | 31 | ||||||||||||||
Current | |||||||||||||||||
Cash restricted by prudential solvency requirements (2) | 18 | 18 | 24 | ||||||||||||||
Cash balances held by - joint operations (3) | 9 | 8 | 18 | ||||||||||||||
27 | 26 | 42 | |||||||||||||||
Total cash restricted for use (note 33 and 34) | 60 | 58 | 73 |
US Dollars | |||||||||||||||||
Figures in millions | 2022 | 2021 | 2020 | ||||||||||||||
Cash and deposits on call | 870 | 712 | 1,081 | ||||||||||||||
Money market instruments | 238 | 442 | 249 | ||||||||||||||
Total cash and cash equivalents (note 33 and note 34) | 1,108 | 1,154 | 1,330 |
US Dollars | |||||||||||||||||
Figures in millions | 2022 | 2021 | 2020 | ||||||||||||||
Share capital | |||||||||||||||||
Authorised (1) | |||||||||||||||||
600,000,000 ordinary shares of 25 SA cents each | 23 | 23 | 23 | ||||||||||||||
Issued and fully paid | |||||||||||||||||
418,600,473 (2021: 417,501,452; 2020: 416,890,087) ordinary shares of 25 SA cents each | 17 | 17 | 17 | ||||||||||||||
Share premium | |||||||||||||||||
Balance at beginning of year | 7,206 | 7,250 | 7,235 | ||||||||||||||
Ordinary shares issued - share premium | 16 | 9 | 15 | ||||||||||||||
Preference shares redeemed(1) | — | (53) | — | ||||||||||||||
7,222 | 7,206 | 7,250 | |||||||||||||||
Less: held within the Group | |||||||||||||||||
Redeemable preference shares(1) | (53) | ||||||||||||||||
Balance at end of year | 7,222 | 7,206 | 7,197 | ||||||||||||||
Share capital and premium | 7,239 | 7,223 | 7,214 |
US Dollars | |||||||||||||||||
Figures in millions | 2020 | 2019 | 2018 | ||||||||||||||
Non-current | 31 | 31 | 35 | ||||||||||||||
Current | |||||||||||||||||
Cash restricted by prudential solvency requirements and other | 24 | 27 | 24 | ||||||||||||||
Cash balances held by the Tropicana - joint operation | 18 | 6 | 7 | ||||||||||||||
42 | 33 | 31 | |||||||||||||||
Total cash restricted for use (note 35 and 36) | 73 | 64 | 66 |
US Dollars | |||||||||||||||||
Figures in millions | 2022 | 2021 | 2020 | ||||||||||||||
Non-current | |||||||||||||||||
Unsecured | |||||||||||||||||
Debt carried at amortised cost | |||||||||||||||||
Rated bonds - issued October 2021 | 745 | 744 | — | ||||||||||||||
Semi-annual coupons are paid at 3.375% per annum on the $750m 7-year bonds. The bonds were issued on 22 October 2021, are repayable on 1 November 2028. | |||||||||||||||||
Rated bonds - issued October 2020 | 694 | 693 | 692 | ||||||||||||||
Semi-annual coupons are paid at 3.75% per annum on $700m 10-year bonds. The bonds were issued on 1 October 2020, are repayable on 1 October 2030. | |||||||||||||||||
Rated bonds - issued April 2010 | 296 | 296 | 295 | ||||||||||||||
Semi-annual coupons are paid at 6.5% per annum on $300m 30-year bonds. The $300m bonds are repayable in April 2040. | |||||||||||||||||
Rated bonds - issued July 2012 | — | — | 764 | ||||||||||||||
Semi-annual coupons were paid at 5.125% per annum on the $750m 10-year bonds. The bonds were issued on 30 July 2012 and were repaid during October 2021 and November 2021. | |||||||||||||||||
Multi-currency syndicated revolving credit facility ($1.4bn multi-currency RCF) | 31 | — | |||||||||||||||
The Facility consisted of a US dollar-based facility with interest charged at a margin of 1.45% above LIBOR and an Australian dollar-based facility capped at $500m with a margin of 1.45% above BBSY. The applicable margin was subject to a ratings grid. The facility was issued on 23 October 2018 and was repaid and cancelled on 9 June 2022. | |||||||||||||||||
Multi-currency syndicated revolving credit facility ($1.4bn multi-currency RCF) - 2022 | 30 | ||||||||||||||||
This facility was entered into on 9 June 2022 and consists of a US dollar- based facility with interest charged at a margin of 1.45% above SOFR plus a credit adjustment spread and an Australian dollar-based facility capped at $500m with a margin of 1.45% above BBSY. The applicable margin is subject to a ratings grid. The facility is available until 9 June 2027, with the option on application to extend by two years. | |||||||||||||||||
Siguiri revolving credit facility ($65m) | — | 35 | 67 | ||||||||||||||
Interest paid at 8.5% above LIBOR. The facility was issued on 23 August 2016, extended to 3 August 2022 and repaid and cancelled. | |||||||||||||||||
Siguiri revolving credit facility ($65m) - 2022 | 67 | ||||||||||||||||
Interest paid at 8% above term SOFR. The facility was issued on 13 October 2022 and is available until 13 October 2025. | |||||||||||||||||
Geita revolving credit facility ($150m) | 113 | ||||||||||||||||
Multi-currency RCF consisting of a Tanzanian shilling component which was capped at the equivalent of US$45m. Interest on this component was paid at 12.5%. Interest on the remaining USD component was paid at LIBOR plus 6.7%. The facility was cancelled during December 2021. | |||||||||||||||||
Geita revolving credit facility ($150m) - 2021 | 151 | 110 | |||||||||||||||
A multi-currency RCF was entered into during December 2021, consisting of a Tanzanian shilling component which is capped at the equivalent of US$87m. This component bears interest at 12.5%. The remaining USD component of the facility bears interest at LIBOR plus 6.7%. The facility matures either in August 2024 or December 2024 depending on the fulfilment of certain conditions in the facility agreement. | |||||||||||||||||
Total borrowings (note 33) | 1,983 | 1,909 | 1,931 | ||||||||||||||
Current portion of borrowings (note 34) | (18) | (51) | (142) | ||||||||||||||
Total non-current borrowings (note 34) | 1,965 | 1,858 | 1,789 |
US Dollars | |||||||||||||||||
Figures in millions | 2020 | 2019 | 2018 | ||||||||||||||
Cash and deposits on call | 1,081 | 417 | 312 | ||||||||||||||
Money market instruments | 249 | 39 | 17 | ||||||||||||||
Total cash and cash equivalents (notes 35 and note 36) | 1,330 | 456 | 329 |
US Dollars | |||||||||||||||||
Figures in millions | 2020 | 2019 | 2018 | ||||||||||||||
Share capital | |||||||||||||||||
Authorised | |||||||||||||||||
600,000,000 ordinary shares of 25 SA cents each | 23 | 23 | 23 | ||||||||||||||
2,000,000 A redeemable preference shares of 50 SA cents each | 0 | 0 | 0 | ||||||||||||||
5,000,000 B redeemable preference shares of 1 SA cent each | 0 | 0 | 0 | ||||||||||||||
30,000,000 C redeemable preference shares of 0 par value | 0 | 0 | 0 | ||||||||||||||
23 | 23 | 23 | |||||||||||||||
Issued and fully paid | |||||||||||||||||
416,890,087 (2019: 415,301,215; 2018: 412,769,980) ordinary shares of 25 SA cents each | 17 | 17 | 16 | ||||||||||||||
2,000,000 A redeemable preference shares of 50 SA cents each | 0 | 0 | 0 | ||||||||||||||
778,896 B redeemable preference shares of 1 SA cent each | 0 | 0 | 0 | ||||||||||||||
17 | 17 | 16 | |||||||||||||||
Treasury shares held within the group: | |||||||||||||||||
2,778,896 A and B redeemable preference shares | 0 | 0 | 0 | ||||||||||||||
17 | 17 | 16 | |||||||||||||||
Share premium | |||||||||||||||||
Balance at beginning of year | 7,235 | 7,208 | 7,171 | ||||||||||||||
Ordinary shares issued - share premium | 15 | 27 | 37 | ||||||||||||||
7,250 | 7,235 | 7,208 | |||||||||||||||
Less: held within the group | |||||||||||||||||
Redeemable preference shares | (53) | (53) | (53) | ||||||||||||||
Balance at end of year | 7,197 | 7,182 | 7,155 | ||||||||||||||
Share capital and premium | 7,214 | 7,199 | 7,171 |
US Dollars | |||||||||||||||||
Figures in millions | 2022 | 2021 | 2020 | ||||||||||||||
Amounts falling due | |||||||||||||||||
Within one year | 18 | 51 | 142 | ||||||||||||||
Between one and two years | 149 | 31 | 812 | ||||||||||||||
Between two and five years | 102 | 110 | — | ||||||||||||||
After five years | 1,714 | 1,717 | 977 | ||||||||||||||
(note 33) | 1,983 | 1,909 | 1,931 |
US Dollars | |||||||||||||||||
Figures in millions | 2020 | 2019 | 2018 | ||||||||||||||
Non-current | |||||||||||||||||
Unsecured | |||||||||||||||||
Debt carried at amortised cost | |||||||||||||||||
Rated bonds - issued July 2012 | 764 | 762 | 761 | ||||||||||||||
Semi-annual coupons are paid at 5.125% per annum. The bonds were issued on 30 July 2012, are repayable on 1 August 2022 and are US dollar-based. | |||||||||||||||||
Rated bonds - issued April 2010 | 295 | 1,003 | 1,002 | ||||||||||||||
Semi-annual coupons are paid at 5.375% per annum on $700m 10-year bonds and at 6.5% per annum on $300m 30-year bonds. The $700m were repaid on 15 April 2020 and the $300m bonds are repayable in April 2040. The bonds are US dollar-based. | |||||||||||||||||
Rated bonds - issued October 2020 | 692 | 0 | 0 | ||||||||||||||
Semi-annual coupons are paid at 3.75% per annum. The bonds were issued on 1 October 2020, are repayable on 1 October 2030 and are US dollar-based. | |||||||||||||||||
Multi-currency syndicated revolving credit facility ($1.4bn multi-currency RCF) | 0 | 15 | 0 | ||||||||||||||
The Facility consists of a US dollar based facility with interest charged at a margin of 1.45% above LIBOR and an Australian dollar based facility capped at $500m with a margin of 1.45% above BBSY. The applicable margin is subject to a ratings grid. The facility was issued on 23 October 2018 and is available until 23 October 2023. | |||||||||||||||||
Syndicated loan facility (R1.4bn) | 0 | 0 | 28 | ||||||||||||||
Quarterly interest paid at JIBAR plus 1.65% per annum. The facility was issued on 7 July 2015 and was cancelled on 19 February 2020.The loan is SA rand-based. | |||||||||||||||||
Syndicated loan facility (R1bn) | 0 | 72 | 35 | ||||||||||||||
Quarterly interest paid at JIBAR plus 1.3% per annum. The facility was issued on 3 November 2017. During 2020 the facility was fully repaid and voluntarily cancelled on 11 November 2020. The loan was SA rand-based. | |||||||||||||||||
Siguiri revolving credit facilities ($65m) | 67 | 67 | 0 | ||||||||||||||
Interest paid at 8.5% above LIBOR. The facility was issued on 23 August 2016, and is available until 3 May 2022 and is US dollar-based. | |||||||||||||||||
Geita revolving credit facility ($150m) | 113 | 114 | 60 | ||||||||||||||
Multi-currency RCF consisting of Tanzanian shilling component which is capped at the equivalent of US$45m. This component bears interest at 12.5%. The remaining USD component of the facility bears interest at LIBOR plus 6.7% The facility matures on 22 June 2021. | |||||||||||||||||
Revolving credit facilities ($100m) | 0 | 0 | 103 | ||||||||||||||
During 2019 the loans were refinanced and included in the Geita and Siguiri revolving credit facilities. | |||||||||||||||||
Secured | |||||||||||||||||
Finance leases (1) | 0 | 0 | 57 | ||||||||||||||
Figures in millions - US Dollar | Carrying value at 31 December 2022 | Repayable within one year | Repayable between one and two years | ||||||||
Geita revolving credit facility ($150m) (1) | 63 | — | 63 | ||||||||
US Dollars | |||||||||||||||||
Figures in millions | 2020 | 2019 | 2018 | ||||||||||||||
Other | 0 | 0 | 4 | ||||||||||||||
Total borrowings (note 35) | 1,931 | 2,033 | 2,050 | ||||||||||||||
Current portion of borrowings (note 36) | (142) | (734) | (139) | ||||||||||||||
Total non-current borrowings (note 36) | 1,789 | 1,299 | 1,911 | ||||||||||||||
Amounts falling due | |||||||||||||||||
Within one year | 142 | 734 | 139 | ||||||||||||||
Between one and two years | 812 | 110 | 734 | ||||||||||||||
Between two and five years | 0 | 898 | 860 | ||||||||||||||
After five years | 977 | 291 | 317 | ||||||||||||||
(note 35) | 1,931 | 2,033 | 2,050 |
BORROWINGS continued | |||||||||||||||||
US Dollars | |||||||||||||||||
Figures in millions | 2022 | 2021 | 2020 | ||||||||||||||
Currency | |||||||||||||||||
The currencies in which the borrowings are denominated are as follows: | |||||||||||||||||
US dollar | 1,858 | 1,829 | 1,884 | ||||||||||||||
Australian dollar | 37 | 33 | — | ||||||||||||||
SA rand | — | — | — | ||||||||||||||
Tanzanian shillings | 88 | 47 | 47 | ||||||||||||||
(notes 33) | 1,983 | 1,909 | 1,931 | ||||||||||||||
Undrawn facilities | |||||||||||||||||
Undrawn borrowing facilities as at 31 December are as follows: | |||||||||||||||||
FirstRand Bank Limited (R150m; 2021: R150m; 2020: R500m) - SA rand | 9 | 10 | 34 | ||||||||||||||
Multi currency syndicated revolving credit facility ($1.4bn) - US Dollar | 1,362 | 1,367 | 1,400 | ||||||||||||||
Geita Revolving credit facility - $150m - US dollar / Tanzanian shilling | — | 40 | 41 | ||||||||||||||
Siguiri Revolving credit facility - $65m - US dollar | — | 30 | — | ||||||||||||||
1,371 | 1,447 | 1,475 | |||||||||||||||
Change in liabilities arising from financing activities: | |||||||||||||||||
Reconciliation of borrowings (excluding lease liabilities) (1) | |||||||||||||||||
A reconciliation of the total borrowings included in the statement of financial position is set out in the following table: | |||||||||||||||||
Opening balance | 1,909 | 1,931 | 2,033 | ||||||||||||||
Proceeds from borrowings | 266 | 822 | 2,226 | ||||||||||||||
Repayment of borrowings | (184) | (820) | (2,310) | ||||||||||||||
Finance costs paid on borrowings | (89) | (115) | (114) | ||||||||||||||
Deferred loan fees | (8) | (4) | 4 | ||||||||||||||
Other borrowing fees | — | (11) | (15) | ||||||||||||||
Interest charged to the income statement | 97 | 106 | 115 | ||||||||||||||
Translation | (8) | — | (8) | ||||||||||||||
Closing balance | 1,983 | 1,909 | 1,931 | ||||||||||||||
Reconciliation of finance costs paid: | |||||||||||||||||
A reconciliation of the finance cost paid included in the statement of cash flows is set out in the following table: | |||||||||||||||||
Finance costs paid on borrowings | 89 | 115 | 114 | ||||||||||||||
Capitalised finance cost | (2) | (14) | (17) | ||||||||||||||
Commitment fees, utilisation fees and other borrowing costs | 12 | 10 | 13 | ||||||||||||||
Total finance costs paid | 99 | 111 | 110 |
Figures in millions | Carrying value at 31 December 2020 | Repayable within one year | Repayable within one to two years | ||||||||
Siguiri revolving credit facility ($65m) | 67 | 2 | 65 | ||||||||
Geita revolving credit facility ($105m) (1) | 67 | 67 | 0 | ||||||||
Multi-currency syndicated revolving credit facility ($1.4bn multi-currency RCF) (2) | 0 | 0 | 0 |
US Dollars | |||||||||||||||||
Figures in millions | 2020 | 2019 | 2018 | ||||||||||||||
Currency | |||||||||||||||||
The currencies in which the borrowings are denominated are as follows: | |||||||||||||||||
US dollar | 1,884 | 1,893 | 1,896 | ||||||||||||||
Australian dollar | 0 | 21 | 48 | ||||||||||||||
SA rand | 0 | 72 | 75 | ||||||||||||||
Tanzanian shillings | 47 | 47 | 29 | ||||||||||||||
Brazilian real | 0 | 0 | 2 | ||||||||||||||
(notes 35) | 1,931 | 2,033 | 2,050 | ||||||||||||||
Undrawn facilities | |||||||||||||||||
Undrawn borrowing facilities as at 31 December are as follows: | |||||||||||||||||
Syndicated revolving credit facility (R2.5bn) - SA rand (1) | 179 | 174 | |||||||||||||||
Syndicated revolving credit facility (R1.4bn) - SA rand (2) | 100 | 70 | |||||||||||||||
FirstRand Bank Limited (R500m; 2019 & 2018: R750m) - SA rand | 34 | 54 | 52 | ||||||||||||||
Revolving credit facility (R1bn) - SA rand(3) | 0 | 35 | |||||||||||||||
Multi currency syndicated revolving credit facility ($1.4bn) - US Dollar | 1,400 | 1,379 | 1,400 | ||||||||||||||
Revolving credit facility - $150m | 41 | 40 | 57 | ||||||||||||||
1,475 | 1,752 | 1,788 | |||||||||||||||
Change in liabilities arising from financing activities: | |||||||||||||||||
Reconciliation of borrowings (excluding lease liabilities) (4): | |||||||||||||||||
A reconciliation of the total borrowings included in the statement of financial position is set out in the following table: | |||||||||||||||||
Opening balance | 2,033 | 2,050 | 2,268 | ||||||||||||||
Proceeds from borrowings | 2,226 | 168 | 753 | ||||||||||||||
Repayment of borrowings | (2,310) | (123) | (967) | ||||||||||||||
Finance costs paid on borrowings | (114) | (122) | (117) | ||||||||||||||
Deferred loan fees | 4 | (7) | 0 | ||||||||||||||
Other borrowing fees | (15) | ||||||||||||||||
Interest charged to the income statement | 115 | 127 | 127 | ||||||||||||||
Reclassification of finance leases to lease liabilities | 0 | (60) | 0 | ||||||||||||||
Translation | (8) | 0 | (14) | ||||||||||||||
Closing balance | 1,931 | 2,033 | 2,050 | ||||||||||||||
Reconciliation of finance costs paid: | |||||||||||||||||
A reconciliation of the finance cost paid included in the statement of cash flows is set out in the following table: | |||||||||||||||||
Finance costs paid on borrowings | 114 | 122 | 117 | ||||||||||||||
Capitalised finance cost | (17) | (6) | 0 | ||||||||||||||
Commitment fees, utilisation fees and other borrowing costs | 13 | 12 | 13 | ||||||||||||||
Total finance costs paid | 110 | 128 | 130 |
US Dollars | |||||||||||||||||
Figures in millions | 2022 | 2021 | 2020 | ||||||||||||||
Environmental rehabilitation obligations | |||||||||||||||||
Provision for decommissioning | |||||||||||||||||
Balance at beginning of year | 215 | 219 | 196 | ||||||||||||||
Charge to income statement | — | 3 | — | ||||||||||||||
Change in estimates(1) | (55) | (8) | 17 | ||||||||||||||
Unwinding of decommissioning obligation | 5 | 3 | 2 | ||||||||||||||
Translation | (3) | (2) | 4 | ||||||||||||||
Balance at end of year | 162 | 215 | 219 | ||||||||||||||
Provision for restoration | |||||||||||||||||
Balance at beginning of year | 458 | 440 | 423 | ||||||||||||||
Charge to income statement | (8) | (3) | 2 | ||||||||||||||
Change in estimates(1) | (36) | 29 | 15 | ||||||||||||||
Additions | 2 | — | — | ||||||||||||||
Unwinding of restoration obligation | 12 | 6 | 4 | ||||||||||||||
Utilised during the year | (8) | (10) | (11) | ||||||||||||||
Translation | (4) | (4) | 7 | ||||||||||||||
Balance at end of year | 416 | 458 | 440 | ||||||||||||||
Provision for silicosis | |||||||||||||||||
Balance at beginning of year | 34 | 49 | 54 | ||||||||||||||
Change in estimates | (1) | 1 | 4 | ||||||||||||||
Transfer (to) from short term provisions included in trade, other payables and provisions | 2 | (5) | (1) | ||||||||||||||
Unwinding of silicosis provision | 3 | 3 | 4 | ||||||||||||||
Utilised during the year | (15) | (10) | (9) | ||||||||||||||
Translation | — | (4) | (3) | ||||||||||||||
Balance at end of year | 23 | 34 | 49 | ||||||||||||||
Other provisions(2) | |||||||||||||||||
Balance at beginning of year | 22 | 23 | 24 | ||||||||||||||
Charge to income statement | 20 | 14 | 12 | ||||||||||||||
Change in estimates | 2 | — | 1 | ||||||||||||||
Transfer (to) from short term provisions included in trade, other payables and provisions | (5) | (7) | 3 | ||||||||||||||
Utilised during the year | (6) | (6) | (13) | ||||||||||||||
Translation | — | (2) | (4) | ||||||||||||||
Balance at end of year | 33 | 22 | 23 | ||||||||||||||
Total environmental rehabilitation and other provisions | 634 | 729 | 731 | ||||||||||||||
Sensitivity analysis - Provision for decommissioning (3) | |||||||||||||||||
A change in discount rates and cash flows have a significant impact on the amounts recognised in the statement of financial position. A 10% change in the discount rate and cash flows would have the following impact: | |||||||||||||||||
Effect of increase in assumptions: | |||||||||||||||||
10% change in discount rate | (7) | (5) | (3) | ||||||||||||||
10% change in cash flows | 16 | 21 | 22 | ||||||||||||||
Effect of decrease in assumptions: | |||||||||||||||||
10% change in discount rate | 8 | 5 | 3 | ||||||||||||||
10% change in cash flows | (16) | (21) | (22) | ||||||||||||||
Sensitivity analysis - Provision for restoration (3) | |||||||||||||||||
A change in discount rates and cash flows have a significant impact on the amounts recognised in the income statement. A 10% change in the discount rate and cash flows would have the following impact: | |||||||||||||||||
Effect of increase in assumptions: | |||||||||||||||||
10% change in discount rate | (10) | (5) | (3) |
US Dollars | |||||||||||||||||
Figures in millions | 2020 | 2019 | 2018 | ||||||||||||||
Environmental rehabilitation obligations | |||||||||||||||||
Provision for decommissioning | |||||||||||||||||
Balance at beginning of year | 196 | 237 | 286 | ||||||||||||||
Charge to income statement | 0 | 0 | 1 | ||||||||||||||
Change in estimates(1) | 17 | 29 | (47) | ||||||||||||||
Unwinding of decommissioning obligation | 2 | 10 | 12 | ||||||||||||||
Transfer to assets and liabilities held for sale | 0 | (81) | 0 | ||||||||||||||
Utilised during the year | 0 | (1) | (1) | ||||||||||||||
Translation | 4 | 2 | (14) | ||||||||||||||
Balance at end of year | 219 | 196 | 237 | ||||||||||||||
Provision for restoration | |||||||||||||||||
Balance at beginning of year | 423 | 385 | 409 | ||||||||||||||
Charge to income statement | 2 | (1) | 2 | ||||||||||||||
Change in estimates(1) | 15 | 50 | (28) | ||||||||||||||
Unwinding of restoration obligation | 4 | 9 | 12 | ||||||||||||||
Transfer to assets and liabilities held for sale | 0 | (15) | 0 | ||||||||||||||
Utilised during the year | (11) | (5) | (3) | ||||||||||||||
Translation | 7 | 0 | (7) | ||||||||||||||
Balance at end of year | 440 | 423 | 385 | ||||||||||||||
Other provisions(2) | |||||||||||||||||
Balance at beginning of year | 78 | 205 | 247 | ||||||||||||||
Charge to income statement | 12 | 39 | 24 | ||||||||||||||
Change in estimates | 5 | 27 | 18 | ||||||||||||||
Transfer to assets and liabilities held for sale | 0 | (115) | 0 | ||||||||||||||
Transfer from (to) short term provisions included in trade and other payables | 2 | (73) | (26) | ||||||||||||||
Unwinding of other provisions | 4 | 6 | 7 | ||||||||||||||
Utilised during the year | (22) | (16) | (35) | ||||||||||||||
Translation | (7) | 5 | (30) | ||||||||||||||
Balance at end of year | 72 | 78 | 205 | ||||||||||||||
Total environmental rehabilitation and other provisions | 731 | 697 | 827 |
10% change in cash flows | 42 | 46 | 44 | ||||||||||||||
Effect of decrease in assumptions: | |||||||||||||||||
10% change in discount rate | 10 | 5 | 3 | ||||||||||||||
10% change in cash flows | (42) | (46) | (44) | ||||||||||||||
Sensitivity analysis - Provision for silicosis (3) | |||||||||||||||||
Significant judgements are applied in estimating the costs required to settle any qualifying silicosis claims and is based on certain assumptions which includes the number of claimants, take-up rates and disease progression rates. A 10% change in these assumptions would have the following impact: | |||||||||||||||||
Effect of increase in assumptions: | |||||||||||||||||
10% change in take-up rates | 6 | 6 | 6 | ||||||||||||||
10% change in number of cases | 6 | 6 | 6 | ||||||||||||||
10% change in disease progression rate | 4 | 3 | 3 | ||||||||||||||
Effect of decrease in assumptions: | |||||||||||||||||
10% change in take-up rates | (6) | (6) | (6) | ||||||||||||||
10% change in number of cases | (6) | (6) | (6) | ||||||||||||||
10% change in disease progression rate | (4) | (3) | (3) | ||||||||||||||
US Dollars | US Dollars | |||||||||||||||||||||||||||||||||
Figures in millions | Figures in millions | 2020 | 2019 | 2018 | Figures in millions | 2022 | 2021 | 2020 | ||||||||||||||||||||||||||
Defined benefit plans | Defined benefit plans | Defined benefit plans | ||||||||||||||||||||||||||||||||
The retirement schemes consist of the following: | The retirement schemes consist of the following: | The retirement schemes consist of the following: | ||||||||||||||||||||||||||||||||
Post-retirement medical scheme for AngloGold Ashanti's South African employees | Post-retirement medical scheme for AngloGold Ashanti's South African employees | 77 | 93 | 93 | Post-retirement medical scheme for AngloGold Ashanti's South African employees | 66 | 71 | 77 | ||||||||||||||||||||||||||
Other defined benefit plans | Other defined benefit plans | 6 | 7 | 7 | Other defined benefit plans | 5 | 6 | 6 | ||||||||||||||||||||||||||
83 | 100 | 100 | 71 | 77 | 83 |
Figures in millions | 2020 | 2019 | 2018 | ||||||||||||||
US Dollars | |||||||||||||||||
Post-retirement medical scheme for AngloGold Ashanti's South African employees | |||||||||||||||||
The provision for post-retirement medical funding represents the provision for health care benefits for employees and retired employees and their registered dependants. | |||||||||||||||||
The post-retirement benefit costs are assessed in accordance with the advice of independent professionally qualified actuaries. The actuarial method used is the projected unit credit funding method. This scheme is unfunded. The last valuation was performed as at 31 December 2020. | |||||||||||||||||
Information with respect to the defined benefit liability is as follows: | |||||||||||||||||
Benefit obligation | |||||||||||||||||
Balance at beginning of year | 93 | 93 | 115 | ||||||||||||||
Interest cost | 7 | 8 | 9 | ||||||||||||||
Benefits paid | (7) | (8) | (10) | ||||||||||||||
Actuarial (gain) loss | (9) | (2) | (5) | ||||||||||||||
Translation | (5) | 2 | (16) | ||||||||||||||
Balance at end of year | 79 | 93 | 93 | ||||||||||||||
Settlement gain | (2) | 0 | 0 | ||||||||||||||
Net amount recognised | 77 | 93 | 93 | ||||||||||||||
Components of net periodic benefit cost | |||||||||||||||||
Interest cost | 7 | 8 | 9 | ||||||||||||||
Net periodic benefit cost | 7 | 8 | 9 | ||||||||||||||
Assumptions | |||||||||||||||||
Assumptions used to determine benefit obligations at the end of the year are as follows: | |||||||||||||||||
Discount rate | 9.14 | % | 9.15 | % | 9.57 | % | |||||||||||
Expected increase in health care costs | 6.06 | % | 7.25 | % | 7.35 | % | |||||||||||
Assumed health care cost trend rates at 31 December: | |||||||||||||||||
Health care cost trend assumed for next year | 6.06 | % | 7.25 | % | 7.35 | % | |||||||||||
Rate to which the cost trend is assumed to decline (the ultimate trend rate) | 6.06 | % | 7.25 | % | 7.35 | % | |||||||||||
Assumed health care cost trend rates have a significant effect on the amounts reported for health care plans. A 1% point change in assumed health care cost trend rates would have the following effect: | |||||||||||||||||
Effect on total service and interest cost – 1% point increase | 0 | 1 | 1 | ||||||||||||||
Effect on post-retirement benefit obligation – 1% point increase | 4 | 7 | 7 | ||||||||||||||
Effect on total service and interest cost – 1% point decrease | 0 | (1) | (1) | ||||||||||||||
Effect on post-retirement benefit obligation – 1% point decrease | (4) | (6) | (7) | ||||||||||||||
Cash flows | |||||||||||||||||
Contributions | |||||||||||||||||
AngloGold Ashanti Limited expects to contribute $8m to the post-retirement medical plan in 2021. | |||||||||||||||||
Estimated future benefit payments | |||||||||||||||||
The following medical benefit payments, which reflect the expected future service, as appropriate, are expected to be paid: | |||||||||||||||||
2021 | 8 | ||||||||||||||||
2022 | 9 | ||||||||||||||||
2023 | 9 | ||||||||||||||||
2024 | 9 | ||||||||||||||||
2025 | 9 | ||||||||||||||||
Thereafter | 33 |
Figures in millions | 2022 | 2021 | 2020 | ||||||||||||||
US Dollars | |||||||||||||||||
Post-retirement medical scheme for AngloGold Ashanti's South African employees | |||||||||||||||||
The provision for post-retirement medical funding represents the provision for health care benefits for employees and retired employees and their registered dependants. | |||||||||||||||||
The post-retirement benefit costs are assessed in accordance with the advice of independent professionally qualified actuaries. The actuarial method used is the projected unit credit funding method. The last valuation was performed as at 31 December 2022. | |||||||||||||||||
Information with respect to the defined benefit liability is as follows: | |||||||||||||||||
Benefit obligation | |||||||||||||||||
Balance at beginning of year | 71 | 77 | 93 | ||||||||||||||
Interest cost | 6 | 6 | 7 | ||||||||||||||
Benefits paid | (7) | (8) | (7) | ||||||||||||||
Actuarial loss (gain) | (1) | 1 | (9) | ||||||||||||||
Translation | (3) | (5) | (5) | ||||||||||||||
Balance at end of year | 66 | 71 | 79 | ||||||||||||||
Settlement gain | — | — | (2) | ||||||||||||||
Net amount recognised | 66 | 71 | 77 | ||||||||||||||
Assumptions | |||||||||||||||||
Assumptions used to determine benefit obligations at the end of the year are as follows: | |||||||||||||||||
Discount rate | 10.88 | % | 9.79 | % | 9.14 | % | |||||||||||
Expected increase in health care costs | 7.49 | % | 7.23 | % | 6.06 | % | |||||||||||
Assumed health care cost trend rates at 31 December: | |||||||||||||||||
Health care cost trend assumed for next year | 7.49 | % | 7.23 | % | 6.06 | % | |||||||||||
Rate to which the cost trend is assumed to decline (the ultimate trend rate) | 7.49 | % | 7.23 | % | 6.06 | % | |||||||||||
Assumed health care cost trend rates have a significant effect on the amounts reported for health care plans. A 1% point change in assumed health care cost trend rates would have the following effect: | |||||||||||||||||
Effect on total service and interest cost – 1% point increase | — | 1 | — | ||||||||||||||
Effect on post-retirement benefit obligation – 1% point increase | 4 | 5 | 4 | ||||||||||||||
Effect on total service and interest cost – 1% point decrease | — | — | — | ||||||||||||||
Effect on post-retirement benefit obligation – 1% point decrease | (4) | (4) | (4) | ||||||||||||||
During 2022 the company purchased annuities to partly meet its obligations to pay medical aid contributions. Two remaining premiums of $22m are payable on 1 August 2023 and 2024. The annuities are payable monthly and cover 100% of the medical aid contributions payable to retired members. The annuities increase by South African CPI each year. | |||||||||||||||||
Reimbursive right for post-retirement benefits | |||||||||||||||||
Premiums paid | 26 | ||||||||||||||||
Benefits paid | (3) | ||||||||||||||||
Interest income | 1 | ||||||||||||||||
Actuarial loss (gain) | (12) | ||||||||||||||||
Translation | — | ||||||||||||||||
Balance at end of year | 12 | ||||||||||||||||
The fair value of the right of reimbursement has been determined as the present value of expected future annuity payments payable by the insurer in respect of continuation members, less the present value of outstanding medical aid premium payments payable on 1 August 2023 and 2024. The future annuity payments make appropriate allowance for future increases in line with CPI. The main input used in the valuation model are healthcare cost inflation of 6.2%, demographic assumptions and medical aid contribution increases of 7.49%. This is considered a level 3 fair value input. | |||||||||||||||||
Cash flows | |||||||||||||||||
Estimated future benefit payments | |||||||||||||||||
The following medical benefit payments, which reflect the expected future service, as appropriate, are expected to be paid through purchased annuities: | |||||||||||||||||
2023 | 8 | ||||||||||||||||
2024 | 9 | ||||||||||||||||
2025 | 9 | ||||||||||||||||
2026 | 8 | ||||||||||||||||
2027 | 8 | ||||||||||||||||
Thereafter | 29 | ||||||||||||||||
US Dollars | |||||||||||||||||
Figures in millions | 2022 | 2021 | 2020 | ||||||||||||||
Deferred taxation relating to temporary differences is made up as follows: | |||||||||||||||||
Liabilities | |||||||||||||||||
Tangible assets (owned) | 430 | 442 | 373 | ||||||||||||||
Right-of-use assets | 52 | 53 | 40 | ||||||||||||||
Inventories | 19 | 13 | 20 | ||||||||||||||
Other | 13 | 22 | 13 | ||||||||||||||
514 | 530 | 446 | |||||||||||||||
Assets | |||||||||||||||||
Provisions | 131 | 141 | 122 | ||||||||||||||
Lease liabilities | 57 | 56 | 42 | ||||||||||||||
Tax losses | 89 | 23 | 22 | ||||||||||||||
Other | 9 | 4 | 21 | ||||||||||||||
286 | 224 | 207 | |||||||||||||||
Net deferred taxation liability | 228 | 306 | 239 | ||||||||||||||
Included in the statement of financial position as follows: | |||||||||||||||||
Deferred tax assets (1) | 72 | 7 | 7 | ||||||||||||||
Deferred tax liabilities | 300 | 313 | 246 | ||||||||||||||
Net deferred taxation liability | 228 | 306 | 239 | ||||||||||||||
The movement on the net deferred tax balance is as follows: | |||||||||||||||||
Balance at beginning of year | 306 | 239 | 136 | ||||||||||||||
Taxation of items included in income statement from continuing and discontinued operations | (58) | 64 | 53 | ||||||||||||||
Taxation of non-current assets and liabilities included in income statement from discontinued operations | — | — | 28 | ||||||||||||||
Taxation on items included in other comprehensive income | (14) | 6 | 6 | ||||||||||||||
Translation | (6) | (3) | 16 | ||||||||||||||
Balance at end of year | 228 | 306 | 239 |
US Dollars | |||||||||||||||||
Figures in millions | 2020 | 2019 | 2018 | ||||||||||||||
Deferred taxation relating to temporary differences is made up as follows: | |||||||||||||||||
Liabilities | |||||||||||||||||
Tangible assets (owned) | 373 | 370 | 521 | ||||||||||||||
Right-of-use assets | 40 | 48 | 0 | ||||||||||||||
Inventories | 20 | 24 | 37 | ||||||||||||||
Other | 13 | 9 | 5 | ||||||||||||||
446 | 451 | 563 | |||||||||||||||
Assets | |||||||||||||||||
Provisions | 122 | 209 | 218 | ||||||||||||||
Lease liabilities | 42 | 52 | 0 | ||||||||||||||
Tax losses | 15 | 45 | 24 | ||||||||||||||
Other | 28 | 9 | 6 | ||||||||||||||
207 | 315 | 248 | |||||||||||||||
Net deferred taxation liability | 239 | 136 | 315 | ||||||||||||||
Included in the statement of financial position as follows: | |||||||||||||||||
Deferred tax assets | 7 | 105 | 0 | ||||||||||||||
Deferred tax liabilities | 246 | 241 | 315 | ||||||||||||||
Net deferred taxation liability | 239 | 136 | 315 | ||||||||||||||
The movement on the net deferred tax balance is as follows: | |||||||||||||||||
Balance at beginning of year | 136 | 315 | 359 | ||||||||||||||
Taxation of items included in income statement from continuing and discontinued operations | 53 | (189) | (30) | ||||||||||||||
Taxation of non-current assets and liabilities included in discontinued operations | 28 | 0 | 0 | ||||||||||||||
Taxation on items included in other comprehensive income | 6 | (2) | 5 | ||||||||||||||
Transfer to non-current assets and liabilities held for sale | 0 | 15 | 0 | ||||||||||||||
Translation | 16 | (3) | (19) | ||||||||||||||
Balance at end of year | 239 | 136 | 315 |
US Dollars | |||||||||||||||||
Figures in millions | 2020 | 2019 | 2018 | ||||||||||||||
Non-current | |||||||||||||||||
Other Payables | 8 | 15 | 3 | ||||||||||||||
Current | |||||||||||||||||
Trade payables | 403 | 365 | 350 | ||||||||||||||
Accruals(1) | 191 | 167 | 186 | ||||||||||||||
Short-term provisions | 30 | 53 | 20 | ||||||||||||||
Derivatives | 0 | 0 | 9 | ||||||||||||||
Other payables | 3 | 1 | 29 | ||||||||||||||
627 | 586 | 594 | |||||||||||||||
Total trade, other payables and provisions | 635 | 601 | 597 | ||||||||||||||
Current trade and other payables are non-interest bearing and are normally settled within 60 days. |
US Dollars | |||||||||||||||||
Figures in millions | 2022 | 2021 | 2020 | ||||||||||||||
Non-current | |||||||||||||||||
Other payables | 7 | 7 | 8 | ||||||||||||||
Current | |||||||||||||||||
Trade payables | 391 | 406 | 403 | ||||||||||||||
Accruals(1) | 279 | 205 | 191 | ||||||||||||||
Short-term provisions | 30 | 31 | 30 | ||||||||||||||
Short-term financial liabilities | 6 | — | — | ||||||||||||||
Other payables | 4 | 5 | 3 | ||||||||||||||
710 | 647 | 627 | |||||||||||||||
Total trade, other payables and provisions | 717 | 654 | 635 | ||||||||||||||
Current trade and other payables are non-interest bearing and are normally settled within 60 days. |
US Dollars | US Dollars | |||||||||||||||||||||||||||||||||
Figures in millions | Figures in millions | 2020 | 2019 | 2018 | Figures in millions | 2022 | 2021 | 2020 | ||||||||||||||||||||||||||
Balance at beginning of year | Balance at beginning of year | 62 | 54 | 50 | Balance at beginning of year | (10) | 139 | 62 | ||||||||||||||||||||||||||
Refunds during the year | Refunds during the year | 0 | 7 | 5 | Refunds during the year | 32 | 20 | — | ||||||||||||||||||||||||||
Payments during the year | Payments during the year | (431) | (228) | (171) | Payments during the year | (166) | (336) | (431) | ||||||||||||||||||||||||||
Taxation of items included in the income statement | Taxation of items included in the income statement | 562 | 298 | 242 | Taxation of items included in the income statement | 231 | 248 | 562 | ||||||||||||||||||||||||||
Offset of VAT and other taxes | Offset of VAT and other taxes | (41) | (50) | (63) | Offset of VAT and other taxes | (84) | (87) | (41) | ||||||||||||||||||||||||||
Transfer of Siguiri tax asset to non-current trade and other receivables | Transfer of Siguiri tax asset to non-current trade and other receivables | 4 | — | — | ||||||||||||||||||||||||||||||
Withholding tax transferred from (to) trade, other payables and provisions | Withholding tax transferred from (to) trade, other payables and provisions | — | 7 | (7) | ||||||||||||||||||||||||||||||
Discounting of tax receivable | Discounting of tax receivable | — | 1 | — | ||||||||||||||||||||||||||||||
Transfer from tax receivable relating to North America | Transfer from tax receivable relating to North America | (4) | (10) | 0 | Transfer from tax receivable relating to North America | — | — | (4) | ||||||||||||||||||||||||||
Withholding tax transferred to trade, other payables and provisions | (7) | 0 | 0 | |||||||||||||||||||||||||||||||
Translation | Translation | (2) | (9) | (9) | Translation | 1 | (2) | (2) | ||||||||||||||||||||||||||
Balance at end of year | Balance at end of year | 139 | 62 | 54 | Balance at end of year | 8 | (10) | 139 | ||||||||||||||||||||||||||
Included in the statement of financial position as follows: | Included in the statement of financial position as follows: | Included in the statement of financial position as follows: | ||||||||||||||||||||||||||||||||
Taxation asset included in trade, other receivables and other assets | Taxation asset included in trade, other receivables and other assets | (14) | (10) | (6) | Taxation asset included in trade, other receivables and other assets | (37) | (49) | (14) | ||||||||||||||||||||||||||
Taxation liability | Taxation liability | 153 | 72 | 60 | Taxation liability | 45 | 39 | 153 | ||||||||||||||||||||||||||
139 | 62 | 54 | 8 | (10) | 139 |
US Dollars | |||||||||||||||||
Figures in millions | 2020 | 2019 | 2018 | ||||||||||||||
Profit (loss) before taxation | 1,589 | 619 | 445 | ||||||||||||||
Adjusted for: | |||||||||||||||||
Movement on non-hedge derivatives and other commodity contracts | 0 | (6) | 6 | ||||||||||||||
Amortisation of tangible assets and right of use assets (note 4) | 568 | 580 | 553 | ||||||||||||||
Finance costs and unwinding of obligations (note 7) | 177 | 172 | 168 | ||||||||||||||
Environmental, rehabilitation and other expenditure | (50) | (6) | (23) | ||||||||||||||
Impairment, derecognition of assets and profit (loss) on disposal | (1) | 3 | 5 | ||||||||||||||
Other expenses (income) | 51 | 41 | 28 | ||||||||||||||
Amortisation of intangible assets (note 4) | 2 | 3 | 5 | ||||||||||||||
Interest income | (27) | (14) | (8) | ||||||||||||||
Share of associates and joint ventures’ (profit) loss (note 8) | (278) | (168) | (122) | ||||||||||||||
Other non-cash movements | 35 | 43 | (4) | ||||||||||||||
Movements in working capital | (238) | (165) | (122) | ||||||||||||||
1,828 | 1,102 | 931 | |||||||||||||||
Movements in working capital: | |||||||||||||||||
(Increase) decrease in inventories | (83) | (67) | (2) | ||||||||||||||
(Increase) decrease in trade, other receivables and other assets | (163) | (138) | (74) | ||||||||||||||
Increase (decrease) in trade, other payables and provisions | 8 | 40 | (46) | ||||||||||||||
(238) | (165) | (122) |
US Dollars | |||||||||||||||||
Figures in millions | 2022 | 2021 | 2020 | ||||||||||||||
Profit (loss) before taxation | 489 | 958 | 1,627 | ||||||||||||||
Adjusted for: | |||||||||||||||||
Movement on non-hedge derivatives and other commodity contracts | 6 | — | — | ||||||||||||||
Amortisation of tangible and right of use assets (note 4) | 632 | 474 | 573 | ||||||||||||||
Amortisation of intangible assets (note 4) | 1 | 3 | 2 | ||||||||||||||
Finance costs and unwinding of obligations (note 6) | 149 | 116 | 177 | ||||||||||||||
Environmental, rehabilitation, silicosis and other provisions | (85) | (20) | (50) | ||||||||||||||
Impairment and derecognition of assets | 308 | 7 | 1 | ||||||||||||||
Profit on sale of assets | (8) | (22) | (2) | ||||||||||||||
Other expenses (income) | 9 | 61 | 51 | ||||||||||||||
Interest income | (81) | (58) | (27) | ||||||||||||||
Share of associates and joint ventures’ (profit) loss (note 7) | (166) | (249) | (278) | ||||||||||||||
Other non-cash movements | 127 | 30 | 30 | ||||||||||||||
Movements in working capital | (137) | 53 | (238) | ||||||||||||||
1,244 | 1,353 | 1,866 | |||||||||||||||
Movements in working capital: | |||||||||||||||||
(Increase) decrease in inventories | (54) | 58 | (83) | ||||||||||||||
Increase in trade, other receivables and other assets | (149) | (49) | (163) | ||||||||||||||
Increase in trade, other payables and provisions | 66 | 44 | 8 | ||||||||||||||
(137) | 53 | (238) |
US Dollars | |||||||||||||||||
Figures in millions | 2020 | 2019 | 2018 | ||||||||||||||
Material related party transactions were as follows (not attributable): | |||||||||||||||||
Sales and services rendered to related parties | |||||||||||||||||
Associates | 11 | 19 | 0 | ||||||||||||||
Joint ventures | 8 | 7 | 10 | ||||||||||||||
Purchases and services acquired from related parties | |||||||||||||||||
Associates | 20 | 12 | 19 | ||||||||||||||
Joint ventures | 1 | 1 | 0 | ||||||||||||||
Outstanding balances arising from sale of goods and services due by related parties | |||||||||||||||||
Associates | 11 | 19 | 19 | ||||||||||||||
Joint ventures | 0 | 1 | 0 | ||||||||||||||
Amounts owed to/due by related parties above are unsecured and non-interest bearing. | |||||||||||||||||
Loans advanced to joint ventures and associates | |||||||||||||||||
Loans advanced to associates and joint ventures are included in the carrying value of investments in associates and joint ventures (note 19) |
US Dollars | |||||||||||||||||
Figures in millions | 2022 | 2021 | 2020 | ||||||||||||||
Material related party transactions were as follows (not attributable): | |||||||||||||||||
Sales and services rendered to related parties | |||||||||||||||||
Associates | — | 7 | 11 | ||||||||||||||
Joint ventures | — | — | 8 | ||||||||||||||
Purchases and services acquired from related parties | |||||||||||||||||
Associates | 14 | 14 | 20 | ||||||||||||||
Joint ventures | — | — | 1 | ||||||||||||||
Outstanding balances arising from sale of goods and services due by related parties | |||||||||||||||||
Associates | — | 7 | 11 | ||||||||||||||
Joint ventures | — | — | — | ||||||||||||||
Amounts owed to/due by related parties above are unsecured and non-interest bearing. | |||||||||||||||||
Loans advanced to joint ventures and associates | |||||||||||||||||
Loans advanced to associates and joint ventures are included in the carrying value of investments in associates and joint ventures (note 17) |
Executive Committee member | Notice Period | Change of control | |||||||||
12 months | 12 months | ||||||||||
6 months | 6 months | ||||||||||
Other Executive Management team members | 6 months | 6 months |
Single total figure of remuneration | Base Salary | Pension scheme benefits | Cash in lieu of dividends | Other benefits(2) | Awards earned during the period reflected but not yet settled | Other Payment | Single total figure of remuneration | ||||||||||||||||||||||||||||
ZAR denominated portion | USD/AUD denominated portion(1) | DSP awards(3) | 2020 | 2019 | 2018 | ||||||||||||||||||||||||||||||
ZAR '000 | ZAR '000 | ZAR '000 | ZAR '000 | ZAR '000 | ZAR '000 | ZAR '000 | ZAR '000 | USD '000 (9) | USD '000(9) | USD '000(9) | |||||||||||||||||||||||||
Executive directors | |||||||||||||||||||||||||||||||||||
KPM Dushnisky(4) | 0 | 21,657 | 5,266 | 13 | 1,759 | 25,796 | 0 | 54,491 | 3,312 | 6,268 | 7,570 | ||||||||||||||||||||||||
KC Ramon(5) | 5,864 | 4,594 | 834 | 385 | 924 | 22,507 | 16,513 | 51,621 | 3,138 | 5,097 | 3,547 | ||||||||||||||||||||||||
Total executive directors | 5,864 | 26,251 | 6,100 | 398 | 2,683 | 48,303 | 16,513 | 106,112 | 6,450 | 11,365 | 11,117 | ||||||||||||||||||||||||
Prescribed officers | |||||||||||||||||||||||||||||||||||
SD Bailey | 4,465 | 3,305 | 0 | 75 | 1,259 | 24,103 | 0 | 33,207 | 2,019 | 2,190 | 0 | ||||||||||||||||||||||||
PD Chenard | 5,282 | 4,255 | 0 | 0 | 2,468 | 8,554 | 0 | 20,559 | 1,250 | 3,292 | 0 | ||||||||||||||||||||||||
GJ Ehm | 0 | 10,462 | 284 | 409 | 710 | 32,108 | 0 | 43,973 | 2,673 | 4,742 | 3,286 | ||||||||||||||||||||||||
L Eybers | 0 | 10,832 | 284 | 377 | 798 | 31,896 | 0 | 44,187 | 2,686 | 4,659 | 2,511 | ||||||||||||||||||||||||
I Kramer(6) | 1,156 | 0 | 144 | 0 | 24 | 6,085 | 289 | 7,698 | 468 | 0 | 0 | ||||||||||||||||||||||||
LMarwick(7) | 1,896 | 939 | 256 | 0 | 136 | 16,615 | 571 | 20,413 | 1,241 | 0 | 0 | ||||||||||||||||||||||||
S Ntuli | 5,202 | 3,851 | 728 | 95 | 1,387 | 26,942 | 0 | 38,205 | 2,322 | 2,565 | 0 | ||||||||||||||||||||||||
ME Sanz Perez(8) | 2,353 | 1,763 | 514 | 300 | 1,809 | 0 | 0 | 6,739 | 410 | 3,868 | 2,833 | ||||||||||||||||||||||||
TR Sibisi | 4,484 | 3,518 | 1,000 | 258 | 58 | 20,802 | 0 | 30,120 | 1,831 | 3,514 | 2,699 | ||||||||||||||||||||||||
Total prescribed officers | 24,838 | 38,925 | 3,210 | 1,514 | 8,649 | 167,105 | 860 | 245,101 | 14,900 | 24,830 | 11,329 |
Single total figure of remuneration | Base Salary | Pension scheme benefits | Cash in lieu of dividends | Other benefits(2) | Awards earned during the period reflected but not yet settled | Other Payments | Single total figure of remuneration | |||||||||||||||||||||||||||||||
ZAR denominated portion | USD/AUD denominated portion(1) | DSP awards(3) | Sign-on awards granted | 2022 | 2021 | 2020 | ||||||||||||||||||||||||||||||||
ZAR '000 | ZAR '000 | ZAR '000 | ZAR '000 | ZAR '000 | ZAR '000 | ZAR '000 | ZAR '000 | USD '000(12) | USD '000(12) | USD '000(12) | ||||||||||||||||||||||||||||
Executive directors | ||||||||||||||||||||||||||||||||||||||
A Calderon | — | 26,185 | 6,481 | — | 162 | 83,180 | — | — | 116,008 | 7,089 | 2,761 | — | ||||||||||||||||||||||||||
KC Ramon(4) | 3,052 | 2,336 | 430 | 435 | 3,524 | 4,551 | — | 13,082 | 27,410 | 1,675 | 2,875 | 3,138 | ||||||||||||||||||||||||||
Total executive directors | 3,052 | 28,521 | 6,911 | 435 | 3,686 | 87,731 | — | 13,082 | 143,418 | 8,764 | 5,636 | 3,138 | ||||||||||||||||||||||||||
Prescribed officers | ||||||||||||||||||||||||||||||||||||||
L Ali(6) | — | 7,620 | — | — | 787 | 20,092 | 19,111 | 0 | 47,610 | 2,909 | — | — | ||||||||||||||||||||||||||
SD Bailey | 5,037 | 2,977 | — | 225 | 1,177 | 20,882 | — | — | 30,298 | 1,851 | 1,673 | 2,019 | ||||||||||||||||||||||||||
I Boninelli(7) | 1,507 | — | — | — | 3 | — | — | — | 1,510 | 92 | 605 | — | ||||||||||||||||||||||||||
TJ Briggs(8) | — | 5,073 | 374 | — | 677 | 13,060 | 14,437 | — | 33,621 | 2,054 | — | — | ||||||||||||||||||||||||||
VA Chamberlain (9) | 1,058 | 225 | 137 | 124 | 18 | 2,664 | — | 321 | 4,547 | 278 | 606 | — | ||||||||||||||||||||||||||
L Eybers | — | 10,986 | 312 | 401 | 814 | 28,281 | — | — | 40,794 | 2,493 | 2,291 | 2,686 | ||||||||||||||||||||||||||
MC Godoy | — | 9,821 | 1,645 | — | 1,224 | 25,282 | — | — | 37,972 | 2,320 | 2,857 | — | ||||||||||||||||||||||||||
I Kramer(10) | 2,167 | — | 271 | — | 40 | 6,899 | — | 542 | 9,919 | 606 | 598 | 468 | ||||||||||||||||||||||||||
L Marwick | 5,310 | 2,148 | 713 | 84 | 520 | 19,220 | — | — | 27,995 | 1,711 | 1,433 | 1,241 | ||||||||||||||||||||||||||
Exited prescribed officers (11) | — | — | — | — | — | — | — | — | — | — | 4,226 | 8,076 | ||||||||||||||||||||||||||
Total prescribed officers | 15,079 | 38,850 | 3,452 | 834 | 5,260 | 136,380 | 33,548 | 863 | 234,266 | 14,314 | 14,289 | 14,490 |
Total cash equivalent received reconciliation | Single total figure of remuneration | Awards earned during the period reflected but not yet settled | DSP 2020 cash portion settled | BSP, CIP, DSP and LTIP share awards settled | Sign-on shares settled | Total cash equivalent received reconciliation | |||||||||||||||||||||||||||||||||||||||||||||||
DSP awards(1) | Sign-on awards granted | Grant fair value(2) | Market movement since grant date(2) | Vesting fair value(2) | Grant fair value(2) | Market movement since grant date(2) | Vesting fair value(2) | 2022 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||||||||
ZAR '000 | ZAR '000 | ZAR '000 | ZAR '000 | ZAR '000 | ZAR '000 | ZAR '000 | ZAR '000 | ZAR '000 | ZAR '000 | ZAR '000 | USD '000(3) | USD '000(3) | USD '000(3) | ||||||||||||||||||||||||||||||||||||||||
Executive directors | |||||||||||||||||||||||||||||||||||||||||||||||||||||
A Calderon | 116,008 | (83,180) | — | 7,557 | — | — | — | — | — | — | 40,385 | 2,468 | 1,375 | — | |||||||||||||||||||||||||||||||||||||||
KC Ramon | 27,410 | (4,551) | — | 9,951 | 12,666 | 3,174 | 15,840 | — | — | — | 48,650 | 2,973 | 2,329 | 4,278 | |||||||||||||||||||||||||||||||||||||||
Total executive directors | 143,418 | (87,731) | — | 17,508 | 12,666 | 3,174 | 15,840 | — | — | — | 89,035 | 5,441 | 3,704 | 4,278 | |||||||||||||||||||||||||||||||||||||||
Prescribed officers | |||||||||||||||||||||||||||||||||||||||||||||||||||||
L Ali | 47,610 | (20,092) | (19,111) | — | — | — | — | 6,246 | (1,377) | 4,869 | 13,276 | 811 | — | — | |||||||||||||||||||||||||||||||||||||||
SD Bailey | 30,298 | (20,882) | — | 4,965 | 7,101 | 1,376 | 8,477 | — | — | — | 22,858 | 1,397 | 1,365 | 1,508 | |||||||||||||||||||||||||||||||||||||||
I Boninelli | 1,510 | — | — | 4,091 | — | — | — | — | — | — | 5,601 | 342 | 328 | — | |||||||||||||||||||||||||||||||||||||||
TJ Briggs | 33,621 | (13,060) | (14,437) | — | — | — | — | — | — | — | 6,124 | 374 | — | — | |||||||||||||||||||||||||||||||||||||||
VA Chamberlain | 4,547 | — | — | 2,944 | 7,908 | (147) | 7,761 | — | — | — | 15,252 | 932 | 288 | — | |||||||||||||||||||||||||||||||||||||||
L Eybers | 40,794 | (28,281) | — | 6,516 | 11,177 | 2,776 | 13,953 | — | — | — | 32,982 | 2,015 | 2,039 | 3,756 | |||||||||||||||||||||||||||||||||||||||
MC Godoy | 37,972 | (25,282) | — | 1,594 | — | — | — | 13,720 | 4,400 | 18,120 | 32,404 | 1,980 | 471 | — | |||||||||||||||||||||||||||||||||||||||
I Kramer | 9,919 | (6,899) | — | 2,184 | 2,196 | 205 | 2,401 | — | — | — | 7,605 | 465 | 536 | 98 | |||||||||||||||||||||||||||||||||||||||
L Marwick | 27,995 | (19,220) | — | 4,273 | 3,151 | 364 | 3,515 | — | — | — | 16,563 | 1,012 | 948 | 231 | |||||||||||||||||||||||||||||||||||||||
Exited prescribed officers | — | — | — | — | — | — | — | — | — | — | — | — | 7,922 | 10,744 | |||||||||||||||||||||||||||||||||||||||
Total prescribed officers | 234,266 | (133,716) | (33,548) | 26,567 | 31,533 | 4,574 | 36,107 | 19,966 | 3,023 | 22,989 | 152,665 | 9,328 | 13,897 | 16,337 |
Total cash equivalent received reconciliation | Single total figure of remuneration | Awards earned during the period reflected but not yet settled | DSP 2019 cash portion settled | BSP, CIP, DSP and LTIP share awards settled | Sign-on cash settled | Sign-on shares settled | Total cash equivalent received reconciliation | |||||||||||||||||||||||||||||||||||||||||||
DSP awards(1) | Grant fair value(2) | Market movement since grant date(2) | Vesting fair value(2) | Grant fair value(2) | Currency movement since grant date(2) | Settlement fair value(2) | Grant fair value(2) | Market movement since grant date(2) | Vesting fair value(2) | 2020 | 2019 | 2018 | ||||||||||||||||||||||||||||||||||||||
ZAR '000 | ZAR '000 | ZAR '000 | ZAR '000 | ZAR '000 | ZAR '000 | ZAR '000 | ZAR '000 | ZAR '000 | ZAR '000 | ZAR '000 | ZAR '000 | ZAR '000 | USD '000(4) | USD '000(4) | USD '000(4) | |||||||||||||||||||||||||||||||||||
Executive directors | ||||||||||||||||||||||||||||||||||||||||||||||||||
KPM Dushnisky(3) | 54,491 | (25,796) | 9,177 | 2,770 | 1,810 | 4,579 | 14,680 | (245) | 14,435 | 10,094 | 18,379 | 28,473 | 85,359 | 5,189 | 6,298 | 550 | ||||||||||||||||||||||||||||||||||
KC Ramon | 51,621 | (38,137) | 9,214 | 22,804 | 24,878 | 47,682 | 0 | 0 | 0 | 0 | 0 | 0 | 70,380 | 4,278 | 3,057 | 1,936 | ||||||||||||||||||||||||||||||||||
Total executive directors | 106,112 | (63,933) | 18,391 | 25,574 | 26,688 | 52,261 | 14,680 | (245) | 14,435 | 10,094 | 18,379 | 28,473 | 155,739 | 9,467 | 9,355 | 2,486 | ||||||||||||||||||||||||||||||||||
— | — | |||||||||||||||||||||||||||||||||||||||||||||||||
Prescribed officers | ||||||||||||||||||||||||||||||||||||||||||||||||||
SD Bailey | 33,207 | (24,103) | 5,473 | 4,960 | 5,278 | 10,237 | 0 | 0 | 0 | 0 | 0 | 0 | 24,814 | 1,508 | 1,041 | 0 | ||||||||||||||||||||||||||||||||||
PD Chenard | 20,559 | (8,554) | 5,557 | 0 | 0 | 0 | 3,165 | 0 | 3,165 | 6,513 | 9,012 | 15,525 | 36,252 | 2,204 | 900 | 0 | ||||||||||||||||||||||||||||||||||
GJ Ehm | 43,973 | (32,108) | 8,612 | 20,969 | 21,781 | 42,750 | 0 | 0 | 0 | 0 | 0 | 0 | 63,227 | 3,843 | 2,536 | 1,751 | ||||||||||||||||||||||||||||||||||
L Eybers | 44,187 | (31,896) | 8,518 | 19,688 | 21,295 | 40,983 | 0 | 0 | 0 | 0 | 0 | 0 | 61,792 | 3,756 | 2,082 | 1,233 | ||||||||||||||||||||||||||||||||||
I Kramer | 7,698 | (6,085) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,613 | 98 | 0 | 0 | ||||||||||||||||||||||||||||||||||
L Marwick | 20,413 | (16,615) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3,798 | 231 | 0 | 0 | ||||||||||||||||||||||||||||||||||
S Ntuli | 38,205 | (26,942) | 6,367 | 6,289 | 6,710 | 12,999 | 0 | 0 | 0 | 0 | 0 | 0 | 30,629 | 1,862 | 1,160 | 0 | ||||||||||||||||||||||||||||||||||
ME Sanz Perez | 6,739 | 0 | 6,224 | 17,588 | 18,861 | 36,448 | 0 | 0 | 0 | 0 | 0 | 0 | 49,411 | 3,004 | 2,425 | 1,399 | ||||||||||||||||||||||||||||||||||
TR Sibisi | 30,120 | (20,802) | 5,943 | 15,258 | 16,122 | 31,380 | 0 | 0 | 0 | 0 | 0 | 0 | 46,641 | 2,835 | 2,249 | 886 | ||||||||||||||||||||||||||||||||||
Total prescribed officers | 245,101 | (167,105) | 46,694 | 84,752 | 90,047 | 174,797 | 3,165 | 0 | 3,165 | 6,513 | 9,012 | 15,525 | 318,177 | 19,341 | 12,393 | 5,269 |
Balance at 1 January 2020 | Granted | Vested, deemed settled | Forfeited/ Lapsed | Balance at 31 December 2020 | Fair value of granted awards | Fair value of vested awards(1) | Fair value of unvested awards at 31 December 2020 | |||||||||||||||||||
ZAR'000 | ZAR'000 | ZAR'000 | ||||||||||||||||||||||||
Executive Directors | ||||||||||||||||||||||||||
KPM Dushnisky | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||
KC Ramon | 27,817 | 0 | 27,817 | 0 | 0 | 0 | 9,402 | 0 | ||||||||||||||||||
Total executive directors | 27,817 | 0 | 27,817 | 0 | 0 | 0 | 9,402 | 0 | ||||||||||||||||||
Prescribed officers | ||||||||||||||||||||||||||
SD Bailey | 8,306 | 0 | 8,306 | 0 | 0 | 0 | 2,807 | 0 | ||||||||||||||||||
PD Chenard | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||
GJ Ehm | 22,997 | 0 | 22,997 | 0 | 0 | 0 | 7,773 | 0 | ||||||||||||||||||
L Eybers | 22,288 | 0 | 22,288 | 0 | 0 | 0 | 7,533 | 0 | ||||||||||||||||||
I Kramer (2) | 3,716 | 0 | 3,716 | 0 | 0 | 0 | 1,256 | 0 | ||||||||||||||||||
L Marwick (2) | 3,577 | 0 | 3,577 | 0 | 0 | 0 | 1,209 | 0 | ||||||||||||||||||
S Ntuli | 10,637 | 0 | 10,637 | 0 | 0 | 0 | 3,595 | 0 | ||||||||||||||||||
ME Sanz Perez | 19,072 | 0 | 19,072 | 0 | 0 | 0 | 6,446 | 0 | ||||||||||||||||||
TR Sibisi | 17,705 | 0 | 17,705 | 0 | 0 | 0 | 5,984 | 0 | ||||||||||||||||||
Total prescribed officers | 108,298 | 0 | 108,298 | 0 | 0 | 0 | 36,603 | 0 | ||||||||||||||||||
Other management | 809,659 | 0 | 809,659 | 0 | 0 | 0 | 273,665 | 0 | ||||||||||||||||||
Total BSP awards | 945,774 | 0 | 945,774 | 0 | 0 | 0 | 319,670 | 0 |
Balance at 1 January 2020 | Granted | Vested, deemed settled | Forfeited/ Lapsed | Balance at 31 December 2020 | Fair value of granted awards | Fair value of vested awards(1) | Fair value of unvested awards at 31 December 2020 | |||||||||||||||||||
ZAR '000 | ZAR '000 | ZAR '000 | ||||||||||||||||||||||||
Executive directors | ||||||||||||||||||||||||||
KPM Dushnisky | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||
KC Ramon | 110,595 | 0 | 104,468 | 6,127 | 0 | 0 | 29,431 | 0 | ||||||||||||||||||
Total executive directors | 110,595 | 0 | 104,468 | 6,127 | 0 | 0 | 29,431 | 0 | ||||||||||||||||||
Prescribed officers | ||||||||||||||||||||||||||
SD Bailey | 19,793 | 0 | 18,696 | 1,097 | 0 | 0 | 5,267 | 0 | ||||||||||||||||||
PD Chenard | 0 | — | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||
GJ Ehm | 110,595 | 0 | 104,468 | 6,127 | 0 | 0 | 29,431 | 0 | ||||||||||||||||||
L Eybers | 97,535 | 0 | 92,131 | 5,404 | 0 | 0 | 25,955 | 0 | ||||||||||||||||||
I Kramer (2) | 10,143 | 0 | 9,581 | 562 | 0 | 0 | 2,661 | 0 | ||||||||||||||||||
L Marwick (2) | 7,749 | 0 | 7,319 | 430 | 0 | 0 | 2,033 | 0 | ||||||||||||||||||
S Ntuli | 25,173 | 0 | 23,778 | 1,395 | 0 | 0 | 6,699 | 0 | ||||||||||||||||||
ME Sanz Perez | 88,463 | 0 | 83,562 | 4,901 | 0 | 0 | 23,541 | 0 | ||||||||||||||||||
TR Sibisi | 75,971 | 0 | 71,762 | 4,209 | 0 | 0 | 20,217 | 0 | ||||||||||||||||||
Total prescribed officers | 435,422 | 0 | 411,297 | 24,125 | 0 | 0 | 115,804 | 0 | ||||||||||||||||||
Other management | 934,545 | 0 | 882,734 | 51,811 | 0 | 0 | 245,197 | 0 | ||||||||||||||||||
Total LTIP awards | 1,480,562 | 0 | 1,398,499 | 82,063 | 0 | 0 | 390,432 | 0 |
Balance at 1 January 2020 | Granted | Matched | Forfeited/ Lapsed | Balance at 31 December 2020 | Fair value of granted awards | Fair value of matched awards(1) | Fair value of unvested matched at 31 December 2020 | |||||||||||||||||||
ZAR '000 | ZAR '000 | ZAR '000 | ||||||||||||||||||||||||
Executive directors | ||||||||||||||||||||||||||
KPM Dushnisky | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||
KC Ramon | 8,475 | 0 | 8,475 | 0 | 0 | 0 | 2,780 | 0 | ||||||||||||||||||
Total executive directors | 8,475 | 0 | 8,475 | 0 | 0 | 0 | 2,780 | 0 | ||||||||||||||||||
Prescribed officers | ||||||||||||||||||||||||||
SD Bailey | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||
PD Chenard | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||
GJ Ehm | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||
L Eybers | 6,590 | 0 | 6,590 | 0 | 0 | 0 | 2,264 | 0 | ||||||||||||||||||
I Kramer | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||
L Marwick | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||
S Ntuli | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||
ME Sanz Perez | 5,742 | 0 | 5,742 | 0 | 0 | 0 | 1,883 | 0 | ||||||||||||||||||
TR Sibisi | 3,120 | 0 | 3,120 | 0 | 0 | 0 | 891 | 0 | ||||||||||||||||||
Total prescribed officers | 15,452 | 0 | 15,452 | 0 | 0 | 0 | 5,038 | 0 | ||||||||||||||||||
Other management | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||
Total CIP awards | 23,927 | 0 | 23,927 | 0 | 0 | 0 | 7,818 | 0 |
Balance at 1 January 2020 | Granted | Vested deemed settled | Forfeited/ Lapsed | Balance at 31 December 2020 | Fair value of granted awards(1) | Fair value of vested awards(2) | Fair value of unvested awards at 31 December 2020(3) | |||||||||||||||||||
ZAR '000 | ZAR '000 | ZAR '000 | ||||||||||||||||||||||||
Executive directors | ||||||||||||||||||||||||||
KPM Dushnisky | 175,878 | 0 | 87,939 | 0 | 87,939 | 0 | 28,473 | 30,121 | ||||||||||||||||||
Total executive directors | 175,878 | 0 | 87,939 | 0 | 87,939 | 0 | 28,473 | 30,121 | ||||||||||||||||||
Prescribed officers | ||||||||||||||||||||||||||
PD Chenard | 64,951 | 0 | 32,475 | 0 | 32,476 | 0 | 15,525 | 11,124 | ||||||||||||||||||
Total prescribed officers | 64,951 | 0 | 32,475 | 0 | 32,476 | 0 | 15,525 | 11,124 | ||||||||||||||||||
Total sign-on share awards | 240,829 | 0 | 120,414 | 0 | 120,415 | 0 | 43,998 | 41,245 |
Balance at 1 January 2022 | Granted | Vested deemed settled | Balance at 31 December 2022 | Fair value of granted awards(1) | Fair value of vested awards(2) | Fair value of unvested awards at 31 December 2022(3) | ||||||||||||||||||||
ZAR '000 | ZAR '000 | ZAR '000 | ||||||||||||||||||||||||
Prescribed officers | ||||||||||||||||||||||||||
L Ali | — | 44,233 | 20,337 | 23,896 | 13,586 | 4,869 | 7,867 | |||||||||||||||||||
TJ Briggs | — | 47,004 | — | 47,004 | 14,437 | — | 15,475 | |||||||||||||||||||
M Godoy | 107,353 | — | 48,309 | 59,044 | — | 18,120 | 19,439 | |||||||||||||||||||
Total prescribed officers | 107,353 | 91,237 | 68,646 | 129,944 | 28,023 | 22,989 | 42,781 | |||||||||||||||||||
Other management (4) | 4,553 | — | 2,500 | 2,053 | — | 631 | 676 | |||||||||||||||||||
Total sign-on share awards | 111,906 | 91,237 | 71,146 | 131,997 | 28,023 | 23,620 | 43,457 |
Balance at 1 January 2020 | Granted | Vested, deemed settled | Forfeited/ Lapsed | Balance at 31 December 2020 | Fair value of granted awards(1) | Fair value of vested awards(2) | Fair value of unvested awards at 31 December 2019(3) | |||||||||||||||||||
ZAR '000 | ZAR '000 | ZAR '000 | ||||||||||||||||||||||||
Executive directors | ||||||||||||||||||||||||||
KPM Dushnisky | 67,742 | 128,719 | 13,548 | 0 | 182,913 | 41,959 | 4,579 | 62,651 | ||||||||||||||||||
KC Ramon | 89,782 | 62,595 | 17,956 | 0 | 134,421 | 20,404 | 6,069 | 46,042 | ||||||||||||||||||
Total executive directors | 157,524 | 191,314 | 31,504 | 0 | 317,334 | 62,363 | 10,648 | 108,693 | ||||||||||||||||||
Prescribed officers | ||||||||||||||||||||||||||
SD Bailey | 19,196 | 39,635 | 6,398 | 0 | 52,433 | 12,920 | 2,163 | 17,959 | ||||||||||||||||||
PD Chenard | 0 | 40,251 | 0 | 0 | 40,251 | 13,121 | 0 | 13,787 | ||||||||||||||||||
GJ Ehm | 82,037 | 54,574 | 16,407 | 0 | 120,204 | 17,789 | 5,546 | 41,172 | ||||||||||||||||||
L Eybers | 77,380 | 53,982 | 15,476 | 0 | 115,886 | 17,597 | 5,231 | 39,693 | ||||||||||||||||||
I Kramer(5) | 7,759 | 9,012 | 3,879 | 0 | 12,892 | 2,938 | 1,311 | 4,416 | ||||||||||||||||||
L Marwick(5) | 6,170 | 8,397 | 3,085 | 0 | 11,482 | 2,737 | 1,043 | 3,933 | ||||||||||||||||||
S Ntuli | 24,006 | 46,110 | 8,002 | 0 | 62,114 | 15,030 | 2,705 | 21,275 | ||||||||||||||||||
ME Sanz Perez(4) | 67,712 | 45,068 | 13,542 | 99,238 | 0 | 14,691 | 4,577 | 0 | ||||||||||||||||||
TR Sibisi | 63,424 | 43,035 | 12,684 | 0 | 93,775 | 14,028 | 4,287 | 32,120 | ||||||||||||||||||
Total prescribed officers | 347,684 | 340,064 | 79,473 | 99,238 | 509,037 | 110,851 | 26,863 | 174,355 | ||||||||||||||||||
Other management | 1,094,152 | 645,154 | 403,017 | 56,337 | 1,279,952 | 210,300 | 136,220 | 438,408 | ||||||||||||||||||
Total DSP awards | 1,599,360 | 1,176,532 | 513,994 | 155,575 | 2,106,323 | 383,514 | 173,731 | 721,456 |
Balance at 1 January 2022 | Granted | Vested, deemed settled | Forfeited/ Lapsed | Balance at 31 December 2022 | Fair value of granted awards(1) | Fair value of vested awards(2) | Fair value of unvested awards at 31 December 2022(3) | |||||||||||||||||||
ZAR '000 | ZAR '000 | ZAR '000 | ||||||||||||||||||||||||
Executive directors | ||||||||||||||||||||||||||
A Calderon | — | 41,601 | — | — | 41,601 | 13,938 | — | 13,696 | ||||||||||||||||||
KC Ramon | 183,487 | 58,442 | 46,383 | — | 195,546 | 19,580 | 15,840 | 64,380 | ||||||||||||||||||
Total executive directors | 183,487 | 100,043 | 46,383 | — | 237,147 | 33,518 | 15,840 | 78,076 | ||||||||||||||||||
Prescribed officers | ||||||||||||||||||||||||||
SD Bailey | 90,037 | 33,127 | 24,712 | — | 98,452 | 11,099 | 8,477 | 32,413 | ||||||||||||||||||
VA Chamberlain(4) | 27,159 | 12,986 | 26,547 | 13,598 | — | 4,351 | 7,761 | — | ||||||||||||||||||
L Eybers | 162,348 | 43,252 | 40,818 | — | 164,782 | 14,491 | 13,953 | 54,251 | ||||||||||||||||||
MC Godoy | — | 10,180 | — | — | 10,180 | 3,411 | — | 3,352 | ||||||||||||||||||
I Kramer | 17,824 | 9,776 | 6,942 | — | 20,658 | 3,275 | 2,401 | 6,801 | ||||||||||||||||||
L Marwick | 41,821 | 28,814 | 10,043 | — | 60,592 | 9,654 | 3,515 | 19,949 | ||||||||||||||||||
Total prescribed officers | 339,189 | 138,135 | 109,062 | 13,598 | 354,664 | 46,281 | 36,107 | 116,766 | ||||||||||||||||||
Other management(5) | 1,581,013 | 555,777 | 788,105 | 150,099 | 1,198,586 | 186,208 | 234,197 | 394,610 | ||||||||||||||||||
Total DSP awards | 2,103,689 | 793,955 | 943,550 | 163,697 | 1,790,397 | 266,007 | 286,144 | 589,452 |
Figures in thousands | Figures in thousands | |||||||||||||||||||
Director fees(1) | Committee fees | Travel allowance | Total | Total | Total | |||||||||||||||
US Dollars | 2022 | 2021 | 2020 | |||||||||||||||||
MDC Ramos (Chairperson) | 308,800 | 56,000 | 8,750 | 373,550 | 451 | 202 | ||||||||||||||
R Gasant (Lead independent director) | 166,700 | 104,500 | 10,000 | 281,200 | 296 | 223 | ||||||||||||||
KOF Busia | 125,900 | 86,500 | 26,250 | 238,650 | 240 | 103 | ||||||||||||||
AM Ferguson | 125,900 | 89,000 | 33,750 | 248,650 | 255 | 197 | ||||||||||||||
AH Garner | 125,900 | 50,500 | 13,750 | 190,150 | 202 | 174 | ||||||||||||||
SP Lawson | 125,900 | 50,500 | 18,750 | 195,150 | — | — | ||||||||||||||
NVB Magubane (2) | 95,300 | 30,000 | 8,750 | 134,050 | 178 | 171 | ||||||||||||||
MDC Richter | 125,900 | 85,500 | 18,750 | 230,150 | 250 | 209 | ||||||||||||||
JE Tilk | 125,900 | 110,000 | 23,750 | 259,650 | 279 | 206 | ||||||||||||||
Total fees for 2022 | 1,326,200 | 662,500 | 162,500 | 2,151,200 | 2,151 | 1,485 |
Figures in thousands | Figures in thousands | |||||||||||||||||||
Director fees | Committee fees | Travel allowance | Total | Total | Total | |||||||||||||||
US Dollars | 2019 | 2020 | 2019 | 2018 | ||||||||||||||||
M Ramos (Chairperson) | 130,500 | 71,875 | 0 | 202,375 | 107 | 0 | ||||||||||||||
R Gasant (Lead independent director) | 150,500 | 72,000 | 0 | 222,500 | 193 | 229 | ||||||||||||||
KOF Busia (1) | 63,500 | 28,500 | 11,250 | 103,250 | 0 | 0 | ||||||||||||||
AM Ferguson | 130,500 | 59,000 | 7,500 | 197,000 | 217 | 52 | ||||||||||||||
AH Garner | 130,500 | 35,500 | 7,500 | 173,500 | 196 | 200 | ||||||||||||||
NP January-Bardill(2) | 33,500 | 16,625 | 0 | 50,125 | 186 | 198 | ||||||||||||||
NVB Magubane (3) | 130,500 | 40,000 | 0 | 170,500 | 0 | 0 | ||||||||||||||
MDC Richter | 130,500 | 67,000 | 11,250 | 208,750 | 230 | 235 | ||||||||||||||
RJ Ruston(2) | 33,500 | 13,125 | 10,000 | 56,625 | 218 | 261 | ||||||||||||||
JE Tilk | 130,500 | 67,875 | 7,500 | 205,875 | 231 | 0 | ||||||||||||||
SM Pityana (Chairman)(4) | 329,000 | 77,250 | 0 | 406,250 | 387 | 441 | ||||||||||||||
Total fees for 2020 | 1,393,000 | 548,750 | 55,000 | 1,996,750 | 1,965 | 1,616 |
31 December 2020 Beneficial holding | 31 December 2019 Beneficial holding | 31 December 2018 Beneficial holding | ||||||||||||||||||
Direct | Indirect | Direct | Indirect | Direct | Indirect | |||||||||||||||
Non-Executive directors | ||||||||||||||||||||
MDC Richter(1) | 9,300 | 0 | 9,300 | 0 | 9,300 | 0 | ||||||||||||||
AH Garner(1) | 17,500 | 0 | 17,500 | 0 | 17,500 | 0 | ||||||||||||||
RJ Ruston(2) | 0 | 1,000 | 0 | 1,000 | 0 | 1,000 | ||||||||||||||
Total | 26,800 | 1,000 | 26,800 | 1,000 | 26,800 | 1,000 | ||||||||||||||
Executive directors | ||||||||||||||||||||
KPM Dushnisky (1) | 38,168 | 0 | 131,730 | 0 | 50,000 | 0 | ||||||||||||||
KC Ramon | 91,949 | 0 | 59,124 | 0 | 51,062 | 0 | ||||||||||||||
Total | 130,117 | 0 | 190,854 | 0 | 101,062 | 0 | ||||||||||||||
Company Secretary | ||||||||||||||||||||
L Marwick | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||
Total | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||
Prescribed officers | ||||||||||||||||||||
SD Bailey(1) | 8,609 | 0 | 1,190 | 0 | 0 | 0 | ||||||||||||||
PD Chenard | 13,194 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||
GJ Ehm(2) | 50,443 | 12,213 | 35,058 | 16,213 | 35,058 | 16,213 | ||||||||||||||
L Eybers | 28,466 | 0 | 18,164 | 0 | 17,207 | 0 | ||||||||||||||
I Kramer | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||
S Ntuli | 6,421 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||
TR Sibisi | 34,359 | 0 | 13,283 | 0 | 9,914 | 0 | ||||||||||||||
Total | 141,492 | 12,213 | 67,695 | 16,213 | 62,179 | 16,213 | ||||||||||||||
Grand total | 298,409 | 13,213 | 285,349 | 17,213 | 190,041 | 17,213 |
31 December 2022 Beneficial holding | 31 December 2021 Beneficial holding | 31 December 2020 Beneficial holding | ||||||||||||||||||
US Dollars | Direct | Indirect | Direct | Indirect | Direct | Indirect | ||||||||||||||
Non-Executive directors | ||||||||||||||||||||
KOF Busia(1) | 2,000 | — | 2,000 | — | — | — | ||||||||||||||
AM Ferguson(1) | 5,000 | — | 5,000 | — | — | — | ||||||||||||||
MDC Richter(1) | 10,300 | 1,000 | 10,300 | — | 9,300 | — | ||||||||||||||
AH Garner(1) | 22,500 | — | 17,500 | — | 17,500 | — | ||||||||||||||
J Tilk(1) | 2,800 | — | — | — | — | — | ||||||||||||||
S Lawson(1) | 2,830 | — | — | — | — | — | ||||||||||||||
Total | 45,430 | 1,000 | 34,800 | — | 26,800 | — | ||||||||||||||
Executive directors | ||||||||||||||||||||
A Calderon (1)(2) | 26,370 | — | 4,690 | — | — | — | ||||||||||||||
KC Ramon | — | — | — | — | — | — | ||||||||||||||
Total | 26,370 | — | 4,690 | — | — | — | ||||||||||||||
Prescribed officers | ||||||||||||||||||||
SD Bailey (1) | 13,039 | — | 12,867 | — | 8,609 | — | ||||||||||||||
L Eybers (2) | 28,466 | — | 28,466 | — | 28,466 | — | ||||||||||||||
MC Godoy (1) | 32,643 | — | — | — | — | — | ||||||||||||||
I Kramer | 376 | — | — | — | — | — | ||||||||||||||
Total | 74,524 | — | 41,333 | — | 37,075 | — | ||||||||||||||
Grand total | 146,324 | 1,000 | 80,823 | — | 63,875 | — |
US Dollars | ||||||||||||||||||||
Figures in millions | 2020 | 2019 | 2018 | |||||||||||||||||
Capital commitments | ||||||||||||||||||||
Acquisition of tangible assets | ||||||||||||||||||||
Contracted for | 120 | 161 | 99 | |||||||||||||||||
Not contracted for | 367 | 426 | 792 | |||||||||||||||||
Authorised by the directors (1) | 487 | 587 | 891 | |||||||||||||||||
Allocated to: | ||||||||||||||||||||
Project capital | ||||||||||||||||||||
- within one year | 216 | 288 | 446 | |||||||||||||||||
- thereafter | 71 | 162 | 308 | |||||||||||||||||
287 | 450 | 754 | ||||||||||||||||||
Stay-in-business capital | ||||||||||||||||||||
- within one year | 200 | 117 | 125 | |||||||||||||||||
- thereafter | 0 | 20 | 12 | |||||||||||||||||
200 | 137 | 137 | ||||||||||||||||||
Share of underlying capital commitments of joint ventures included above | 12 | 2 | 91 | |||||||||||||||||
Purchase obligations (2) | ||||||||||||||||||||
Contracted for | ||||||||||||||||||||
- within one year | 391 | 506 | 305 | |||||||||||||||||
- thereafter | 882 | 579 | 658 | |||||||||||||||||
1,273 | 1,085 | 963 |
US Dollars | ||||||||||||||||||||
Figures in millions | 2022 | 2021 | 2020 | |||||||||||||||||
Capital commitments | ||||||||||||||||||||
Acquisition of tangible assets | ||||||||||||||||||||
Contracted for | 178 | 146 | 120 | |||||||||||||||||
Not contracted for | 259 | 547 | 367 | |||||||||||||||||
Authorised by the directors | 437 | 693 | 487 | |||||||||||||||||
Allocated to: | ||||||||||||||||||||
Project capital | ||||||||||||||||||||
- within one year | 155 | 337 | 216 | |||||||||||||||||
- thereafter | 39 | 64 | 71 | |||||||||||||||||
194 | 401 | 287 | ||||||||||||||||||
Stay-in-business capital | ||||||||||||||||||||
- within one year | 243 | 292 | 200 | |||||||||||||||||
243 | 292 | 200 | ||||||||||||||||||
Share of underlying capital commitments of joint ventures included above | — | 4 | 12 | |||||||||||||||||
Purchase obligations | ||||||||||||||||||||
Contracted for | ||||||||||||||||||||
- within one year | 436 | 423 | 391 | |||||||||||||||||
- thereafter | 575 | 624 | 882 | |||||||||||||||||
1,011 | 1,047 | 1,273 |
US Dollars | |||||||||||||||||
Figures in millions | 2020 | 2019 | 2018 | ||||||||||||||
Contingent liabilities | |||||||||||||||||
Litigation - Ghana(1)(2) | 97 | 97 | 97 | ||||||||||||||
97 | 97 | 97 |
Within one year | Between one and two years | Between two and five years | After five years | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||||
2022 | $ millions | Effective rate % | $ millions | Effective rate % | $ millions | Effective rate % | $ millions | Effective rate % | $ millions | |||||||||||||||||||||||||||||||||||||||||||||||
Trade and other payables (1) | 680 | — | 7 | — | 687 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Bank overdraft | 2 | 2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Borrowings | 102 | 249 | 326 | 2,098 | 2,775 | |||||||||||||||||||||||||||||||||||||||||||||||||||
- In USD | 88 | 4.6 | 150 | 4.6 | 284 | 4.2 | 2,098 | 4.1 | 2,620 | |||||||||||||||||||||||||||||||||||||||||||||||
- AUD in USD equivalent | 2 | 4.5 | 2 | 4.5 | 42 | 4.5 | 46 | |||||||||||||||||||||||||||||||||||||||||||||||||
- TZS in USD equivalent | 12 | 12.5 | 97 | 12.5 | — | 109 | ||||||||||||||||||||||||||||||||||||||||||||||||||
2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Trade and other payables | 616 | 7 | — | — | 623 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Borrowings | 119 | 115 | 332 | 2,169 | 2,735 | |||||||||||||||||||||||||||||||||||||||||||||||||||
- In USD | 113 | 4.3 | 76 | 4.2 | 280 | 4.1 | 2,169 | 4.1 | 2,638 | |||||||||||||||||||||||||||||||||||||||||||||||
- AUD in USD equivalent | — | 1.5 | 33 | 1.5 | — | — | — | — | 33 | |||||||||||||||||||||||||||||||||||||||||||||||
- TZS in USD equivalent | 6 | 12.5 | 6 | 12.5 | 52 | 12.5 | — | — | 64 | |||||||||||||||||||||||||||||||||||||||||||||||
2020 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Trade and other payables | 597 | 8 | — | — | 605 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Borrowings | 205 | 901 | 137 | 1,414 | 2,657 | |||||||||||||||||||||||||||||||||||||||||||||||||||
- In USD | 158 | 5.0 | 901 | 5.0 | 137 | 4.6 | 1,414 | 4.6 | 2,610 | |||||||||||||||||||||||||||||||||||||||||||||||
- TZS in USD equivalent | 47 | 12.5 | — | — | — | — | — | — | 47 | |||||||||||||||||||||||||||||||||||||||||||||||
Within one year | Between one and two years | Between two and five years | After five years | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||||
2020 | $ millions | Effective rate % | $ millions | Effective rate % | $ millions | Effective rate % | $ millions | Effective rate % | $ millions | |||||||||||||||||||||||||||||||||||||||||||||||
Trade and other payables | 627 | 8 | 0 | 0 | 635 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Borrowings | 205 | 901 | 137 | 1,414 | 2,657 | |||||||||||||||||||||||||||||||||||||||||||||||||||
- In USD | 158 | 5.0 | 901 | 5.0 | 137 | 4.6 | 1,414 | 4.6 | 2,610 | |||||||||||||||||||||||||||||||||||||||||||||||
- TZS in USD equivalent | 47 | 12.5 | 0 | 0 | 0 | 0 | 0 | 0 | 47 | |||||||||||||||||||||||||||||||||||||||||||||||
2019 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Trade and other payables | 586 | 15 | 0 | 0 | 601 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Borrowings | 802 | 185 | 1,012 | 602 | 2,601 | |||||||||||||||||||||||||||||||||||||||||||||||||||
- In USD | 790 | 5.8 | 132 | 6.0 | 913 | 6.1 | 602 | 6.5 | 2,437 | |||||||||||||||||||||||||||||||||||||||||||||||
- AUD in USD equivalent | 0 | 2.3 | 0 | 2.3 | 22 | 2.3 | 0 | 0 | 22 | |||||||||||||||||||||||||||||||||||||||||||||||
- TZS in USD equivalent | 6 | 12.5 | 47 | 12.5 | 0 | 0 | 0 | 0 | 53 | |||||||||||||||||||||||||||||||||||||||||||||||
- ZAR in USD equivalent | 6 | 8.1 | 6 | 8.1 | 77 | 8.1 | 0 | 0 | 89 | |||||||||||||||||||||||||||||||||||||||||||||||
2018 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Trade and other payables | 562 | 0 | 0 | 0 | 562 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Gold and oil derivative contracts | 9 | 0 | 0 | 0 | 9 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Borrowings | 133 | 836 | 1,120 | 663 | 2,752 | |||||||||||||||||||||||||||||||||||||||||||||||||||
- In USD | 112 | 5.8 | 790 | 5.8 | 1,025 | 6.0 | 622 | 6.5 | 2,549 | |||||||||||||||||||||||||||||||||||||||||||||||
- AUD in USD equivalent | 7 | 6.8 | 7 | 6.8 | 23 | 6.8 | 26 | 6.8 | 63 | |||||||||||||||||||||||||||||||||||||||||||||||
- TZS in USD equivalent | 5 | 12.5 | 3 | 12.5 | 29 | 12.5 | 0 | 0 | 37 | |||||||||||||||||||||||||||||||||||||||||||||||
- ZAR in USD equivalent | 9 | 9.0 | 36 | 9.0 | 43 | 9.7 | 15 | 14.7 | 103 |
Within one year | Between one and two years | Between two and five years | After five years | Total | ||||||||||||||||||||||||||||||||||||||||
2022 | $ millions | $ millions | $ millions | $ millions | $ millions | |||||||||||||||||||||||||||||||||||||||
Lease liabilities | 79 | 63 | 59 | 2 | 203 | |||||||||||||||||||||||||||||||||||||||
- In USD | 39 | 28 | 12 | — | 79 | |||||||||||||||||||||||||||||||||||||||
- AUD in USD equivalent | 24 | 21 | 36 | 2 | 83 | |||||||||||||||||||||||||||||||||||||||
- BRL in USD equivalent | 15 | 13 | 9 | — | 37 | |||||||||||||||||||||||||||||||||||||||
- ZAR in USD equivalent | 1 | 1 | 2 | — | 4 | |||||||||||||||||||||||||||||||||||||||
2021 | ||||||||||||||||||||||||||||||||||||||||||||
Lease liabilities | 68 | 50 | 74 | 10 | 202 | |||||||||||||||||||||||||||||||||||||||
- In USD | 32 | 19 | 13 | — | 64 | |||||||||||||||||||||||||||||||||||||||
- AUD in USD equivalent | 24 | 23 | 51 | 10 | 108 | |||||||||||||||||||||||||||||||||||||||
- BRL in USD equivalent | 10 | 7 | 6 | — | 23 | |||||||||||||||||||||||||||||||||||||||
- ZAR in USD equivalent | 2 | 1 | 4 | — | 7 | |||||||||||||||||||||||||||||||||||||||
2020 | ||||||||||||||||||||||||||||||||||||||||||||
Lease liabilities | 42 | 31 | 68 | 19 | 160 | |||||||||||||||||||||||||||||||||||||||
- In USD | 10 | 4 | 6 | — | 20 | |||||||||||||||||||||||||||||||||||||||
- AUD in USD equivalent | 22 | 21 | 58 | 19 | 120 | |||||||||||||||||||||||||||||||||||||||
- BRL in USD equivalent | 7 | 5 | 4 | — | 16 | |||||||||||||||||||||||||||||||||||||||
- ZAR in USD equivalent | 3 | 1 | — | — | 4 |
Within one year | Between one and two years | Between two and five years | After five years | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||||
2020 | $ millions | Effective rate % | $ millions | Effective rate % | $ millions | Effective rate % | $ millions | Effective rate % | $ millions | |||||||||||||||||||||||||||||||||||||||||||||||
Lease liabilities | 42 | 31 | 68 | 19 | 160 | |||||||||||||||||||||||||||||||||||||||||||||||||||
- In USD | 10 | 6.1 | 4 | 6.1 | 6 | 6.1 | 0 | 0 | 20 | |||||||||||||||||||||||||||||||||||||||||||||||
- AUD in USD equivalent | 22 | 4.7 | 21 | 4.7 | 58 | 4.7 | 19 | 4.7 | 120 | |||||||||||||||||||||||||||||||||||||||||||||||
- BRL in USD equivalent | 7 | 8.4 | 5 | 8.4 | 4 | 8.4 | 0 | 0 | 16 | |||||||||||||||||||||||||||||||||||||||||||||||
- ZAR in USD equivalent | 3 | 9.8 | 1 | 9.8 | 0 | 0 | 0 | 0 | 4 | |||||||||||||||||||||||||||||||||||||||||||||||
2019 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Lease liabilities | 51 | 33 | 54 | 56 | 194 | |||||||||||||||||||||||||||||||||||||||||||||||||||
- In USD | 22 | 7.0 | 4 | 7.0 | 8 | 7.0 | 1 | 7.0 | 35 | |||||||||||||||||||||||||||||||||||||||||||||||
- AUD in USD equivalent | 22 | 3.5 | 22 | 3.5 | 42 | 3.5 | 55 | 3.5 | 141 | |||||||||||||||||||||||||||||||||||||||||||||||
- BRL in USD equivalent | 3 | 6.8 | 3 | 6.8 | 3 | 6.8 | 0 | 0 | 9 | |||||||||||||||||||||||||||||||||||||||||||||||
- ZAR in USD equivalent | 4 | 9.8 | 4 | 9.8 | 1 | 9.8 | 0 | 0 | 9 |
2022 | 2021 | 2020 | |||||||||
USD | 3.1% | 2.3% | 6.1% | ||||||||
AUD | 4.3% | 4.6% | 4.7% | ||||||||
BRL | 14.7% | 11.0% | 8.4% | ||||||||
ZAR | 5.2% | 5.9% | 9.8% | ||||||||
US Dollars | ||||||||||||||||||||
Figures in millions | 2020 | 2019 | 2018 | |||||||||||||||||
Other investments (1) | 2 | 67 | 59 | |||||||||||||||||
Trade and other receivables | 95 | 57 | 41 | |||||||||||||||||
Cash restricted for use (note 23) | 73 | 64 | 66 | |||||||||||||||||
Cash and cash equivalents (note 24) | 1,330 | 456 | 329 | |||||||||||||||||
Total financial assets | 1,500 | 644 | 495 |
US Dollars | ||||||||||||||||||||
Figures in millions | 2022 | 2021 | 2020 | |||||||||||||||||
Other unlisted investments | 1 | 1 | 2 | |||||||||||||||||
Trade and other receivables | 41 | 87 | 95 | |||||||||||||||||
Cash restricted for use (note 21) | 60 | 58 | 73 | |||||||||||||||||
Cash and cash equivalents (note 22) | 1,108 | 1,154 | 1,330 | |||||||||||||||||
Total financial assets | 1,210 | 1,300 | 1,500 |
Carrying amount | Fair value | Carrying amount | Fair value | Carrying amount | Fair value | |||||||||||||||||||||||||||||||||
US Dollar millions | 2020 | 2019 | 2018 | |||||||||||||||||||||||||||||||||||
Financial assets | ||||||||||||||||||||||||||||||||||||||
Other investments (1) | 188 | 188 | 170 | 170 | 147 | 147 | ||||||||||||||||||||||||||||||||
Financial liabilities | ||||||||||||||||||||||||||||||||||||||
Borrowings (note 26) | 1,931 | 2,131 | 2,033 | 2,135 | 2,050 | 2,084 |
Carrying amount | Fair value | Carrying amount | Fair value | Carrying amount | Fair value | |||||||||||||||||||||||||||||||||
Figures in millions - US Dollars | 2022 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||
Financial assets | ||||||||||||||||||||||||||||||||||||||
Other investments | 3 | 3 | 117 | 117 | 188 | 188 | ||||||||||||||||||||||||||||||||
Financial liabilities | ||||||||||||||||||||||||||||||||||||||
Borrowings (note 24) | 1,983 | 1,826 | 1,909 | 2,011 | 1,931 | 2,131 |
US Dollar millions | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||||
2020 | ||||||||||||||||||||||||||
Equity securities - FVTOCI | 186 | 0 | 0 | 186 | ||||||||||||||||||||||
Deferred compensation asset | 0 | 0 | 28 | 28 | ||||||||||||||||||||||
2019 | ||||||||||||||||||||||||||
Equity securities - FVTPL | 21 | 0 | 0 | 21 | ||||||||||||||||||||||
Equity securities - FVTOCI | 82 | 0 | 0 | 82 | ||||||||||||||||||||||
2018 | ||||||||||||||||||||||||||
Equity securities - FVTPL | 19 | 0 | 0 | 19 | ||||||||||||||||||||||
Equity securities - FVTOCI | 69 | 0 | 0 | 69 |
Figures in millions - US Dollars | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||||
Assets measured at fair value on a recurring basis | 2022 | |||||||||||||||||||||||||
Equity securities - FVTOCI | 2 | — | — | 2 | ||||||||||||||||||||||
Deferred compensation asset | — | — | 12 | 12 | ||||||||||||||||||||||
2021 | ||||||||||||||||||||||||||
Deferred compensation asset | — | — | 25 | 25 | ||||||||||||||||||||||
Equity securities - FVTOCI | 116 | — | — | 116 | ||||||||||||||||||||||
2020 | ||||||||||||||||||||||||||
Equity securities - FVTOCI | 186 | — | — | 186 | ||||||||||||||||||||||
Deferred compensation asset | — | — | 28 | 28 | ||||||||||||||||||||||
Liabilities measured at fair value on a recurring basis | 2022 | |||||||||||||||||||||||||
Oil derivative contract | — | 6 | — | 6 |
Figures in millions - US Dollars | 2022 | 2021 | ||||||
Opening balance | 25 | 28 | ||||||
Unwinding of the deferred compensation asset | 1 | 2 | ||||||
Changes in estimates - fair value adjustments (1) | (13) | (3) | ||||||
Translation | (1) | (2) | ||||||
Closing balance (2) | 12 | 25 | ||||||
(1) Included in the Income statement in foreign exchange and fair value adjustments | ||||||||
(2) Included in the Statement of financial position in non-current trade, other receivables and other assets | ||||||||
Percentage change in number of ounces | Change in deferred compensation asset $m | Percentage change in number of ounces | Change in deferred compensation asset $m | |||||||||||
2022 | 2021 | |||||||||||||
Effect of changes in assumptions | ||||||||||||||
Increase in number of ounces | +10% | 1 | +10% | 3 | ||||||||||
Decrease in number of ounces | -10% | (1) | -10% | (3) | ||||||||||
The sensitivity on the weighted number of ounces included within the weighted probability calculation has been based on the range of possible outcomes expected from Harmony’s mining plans, which could differ from the actual mining plans followed by Harmony. |
Change in interest rate basis points | Change in interest amount in currency millions | Change in interest amount US dollar millions | ||||||||||||||||||
2020 | ||||||||||||||||||||
Financial assets | ||||||||||||||||||||
USD denominated | 100 | 6 | 6 | |||||||||||||||||
AUD denominated | 150 | 1 | 1 | |||||||||||||||||
ARS denominated | 250 | 121 | 1 | |||||||||||||||||
Financial liabilities | ||||||||||||||||||||
TZS denominated | 250 | 2,730 | 1 | |||||||||||||||||
USD denominated | 100 | 1 | 1 | |||||||||||||||||
Change in interest rate basis points | Change in interest amount in currency millions | Change in interest amount US dollar millions | ||||||||||||||||||
2019 | ||||||||||||||||||||
Financial assets | ||||||||||||||||||||
USD denominated | 100 | 1 | 1 | |||||||||||||||||
AUD denominated | 150 | 1 | 1 | |||||||||||||||||
BRL denominated | 0 | 0 | 0 | |||||||||||||||||
Financial liabilities | ||||||||||||||||||||
TZS denominated | 250 | 2,704 | 1 | |||||||||||||||||
ZAR denominated(2) | 150 | 15 | 1 | |||||||||||||||||
USD denominated | 100 | 1 | 1 |
Change in interest rate basis points | Change in interest amount in currency millions | Change in interest amount US dollar millions | ||||||||||||||||||
2018 | ||||||||||||||||||||
Financial assets | ||||||||||||||||||||
USD denominated | 100 | 1 | 1 | |||||||||||||||||
ZAR denominated(1)(2) | 150 | 1 | 1 | |||||||||||||||||
BRL denominated | 250 | 2 | 1 | |||||||||||||||||
Financial liabilities | ||||||||||||||||||||
TZS denominated | 250 | 1,680 | 1 | |||||||||||||||||
ZAR denominated(2) | 150 | 14 | 1 | |||||||||||||||||
AUD denominated | 100 | 1 | 1 |
Change in interest rate basis points | Change in interest amount in currency millions | Change in interest amount US dollar millions | ||||||||||||||||||
2022 | ||||||||||||||||||||
Financial assets | ||||||||||||||||||||
USD denominated | 100 | 5 | 5 | |||||||||||||||||
AUD denominated | 150 | 1 | 1 | |||||||||||||||||
Financial liabilities | ||||||||||||||||||||
TZS denominated | 250 | 5,128 | 2 | |||||||||||||||||
AUD denominated | 150 | 1 | 1 | |||||||||||||||||
USD denominated | 100 | 1 | 1 | |||||||||||||||||
Change in interest rate basis points | Change in interest amount in currency millions | Change in interest amount US dollar millions | ||||||||||||||||||
2021 | ||||||||||||||||||||
Financial assets | ||||||||||||||||||||
USD denominated | 100 | 3 | 3 | |||||||||||||||||
AUD denominated | 150 | 1 | 1 | |||||||||||||||||
CAD denominated | 100 | 4 | 5 | |||||||||||||||||
Financial liabilities | ||||||||||||||||||||
TZS denominated | 250 | 2,692 | 1 | |||||||||||||||||
AUD denominated | 150 | 1 | 1 | |||||||||||||||||
USD denominated | 100 | 1 | 1 |
Change in interest rate basis points | Change in interest amount in currency millions | Change in interest amount US dollar millions | ||||||||||||||||||
2020 | ||||||||||||||||||||
Financial assets | ||||||||||||||||||||
USD denominated | 100 | 6 | 6 | |||||||||||||||||
AUD denominated | 150 | 1 | 1 | |||||||||||||||||
ARS denominated | 250 | 121 | 1 | |||||||||||||||||
Financial liabilities | ||||||||||||||||||||
TZS denominated | 250 | 2,730 | 1 | |||||||||||||||||
USD denominated | 100 | 1 | 1 | |||||||||||||||||
Change in exchange rate | Change in borrowings total | Change in exchange rate | Change in borrowings total | Change in exchange rate | Change in borrowings total | |||||||||||||||||||||||||||||||||
US$ Million | US$ Million | US$ Million | ||||||||||||||||||||||||||||||||||||
2020 | 2019 | 2018 | ||||||||||||||||||||||||||||||||||||
Borrowings | ||||||||||||||||||||||||||||||||||||||
ZAR denominated (R/$) | Spot (+R1.50) | 0 | Spot (+R1.50) | (7) | Spot (+R1.50) | (7) | ||||||||||||||||||||||||||||||||
TZS denominated (TZS/$) | Spot (+TZS250) | (5) | Spot (+TZS250) | (5) | Spot (+TZS250) | (3) | ||||||||||||||||||||||||||||||||
AUD denominated (AUD/$) | Spot (+AUD0.1) | 0 | Spot (+AUD0.1) | (1) | Spot (+AUD0.1) | (3) | ||||||||||||||||||||||||||||||||
ZAR denominated (R/$) | Spot (R(1.5)) | 0 | Spot (R(1.5)) | 9 | Spot (R(1.50)) | 9 | ||||||||||||||||||||||||||||||||
TZS denominated (TZS/$) | Spot (TZS(250)) | 6 | Spot (TZS(250)) | 6 | Spot (-TZS(250)) | 4 | ||||||||||||||||||||||||||||||||
AUD denominated (AUD/$) | Spot (AUD(0.1)) | 0 | Spot (AUD(0.1)) | 1 | Spot (AUD(0.1)) | 4 |
Change in exchange rate | Change in borrowings total | Change in exchange rate | Change in borrowings total | Change in exchange rate | Change in borrowings total | |||||||||||||||||||||||||||||||||
US$ Million | US$ Million | US$ Million | ||||||||||||||||||||||||||||||||||||
2022 | 2021 | 2020 | ||||||||||||||||||||||||||||||||||||
Borrowings | ||||||||||||||||||||||||||||||||||||||
TZS denominated (TZS/$) | Spot (+TZS250) | (9) | Spot (+TZS250) | (5) | Spot (+TZS250) | (5) | ||||||||||||||||||||||||||||||||
AUD denominated (AUD/$) | Spot (+AUD0.1) | (2) | Spot (+AUD0.1) | (2) | Spot (+AUD0.1) | — | ||||||||||||||||||||||||||||||||
TZS denominated (TZS/$) | Spot (-TZS(250)) | 11 | Spot (-TZS(250)) | 6 | Spot (-TZS(250)) | 6 | ||||||||||||||||||||||||||||||||
AUD denominated (AUD/$) | Spot (-AUD(0.1)) | 2 | Spot (-AUD(0.1)) | 2 | Spot (-AUD(0.1)) | — |
Change in exchange rate | Change in cash and cash equivalents total $ millions | Change in exchange rate | Change in cash and cash equivalents total $ millions | Change in exchange rate | Change in cash and cash equivalents total $ millions | |||||||||||||||||||||||||||||||||
2022 | 2021 | 2020 | ||||||||||||||||||||||||||||||||||||
Cash and cash equivalents | ||||||||||||||||||||||||||||||||||||||
ZAR denominated (R/$) | Spot (+ZAR1.50) | 9 | Spot (+ZAR1.50) | 9 | Spot (+ZAR1.50) | 20 | ||||||||||||||||||||||||||||||||
AUD denominated (AUD/$) | Spot (+AUD0.1) | 2 | Spot (+AUD0.1) | 4 | Spot (+AUD0.1) | 3 | ||||||||||||||||||||||||||||||||
ARS denominated (ARS/$) | Spot(+ARS10) | 7 | Spot(+ARS10) | 14 | Spot(+ARS10) | 20 | ||||||||||||||||||||||||||||||||
CAD denominated (CAD/$) | Spot(+CAD0.1) | — | Spot(+CAD0.1) | 24 | Spot(+CAD0.1) | 0 | ||||||||||||||||||||||||||||||||
ZAR denominated (R/$) | Spot (-ZAR1.50) | (7) | Spot (-ZAR1.50) | (7) | Spot (-ZAR1.50) | (17) | ||||||||||||||||||||||||||||||||
AUD denominated (AUD/$) | Spot (-AUD0.1) | (2) | Spot (-AUD0.1) | (4) | Spot (-AUD0.1) | (3) | ||||||||||||||||||||||||||||||||
ARS denominated (ARS/$) | Spot(-ARS(10)) | (6) | Spot(-ARS(10)) | (11) | Spot(-ARS(10)) | (16) | ||||||||||||||||||||||||||||||||
CAD denominated (CAD/$) | Spot(-CAD0.1) | — | Spot(-CAD0.1) | (21) | Spot(-CAD0.1) | — |
US Dollars | |||||||||||||||||
Figures in millions | 2020 | 2019 | 2018 | ||||||||||||||
Adjusted net debt from continuing operations | |||||||||||||||||
Borrowings - non-current portion (note 26) | 1,789 | 1,299 | 1,911 | ||||||||||||||
Lease liabilities - non-current portion (note 16) | 116 | 126 | |||||||||||||||
Borrowings - current portion (note 26) | 142 | 734 | 139 | ||||||||||||||
Lease liabilities - current portion (note 16) | 37 | 45 | 0 | ||||||||||||||
Total borrowings | 2,084 | 2,204 | 2,050 | ||||||||||||||
Less: cash and cash equivalents (note 24) | (1,330) | (456) | (329) | ||||||||||||||
Net debt | 754 | 1,748 | 1,721 | ||||||||||||||
Adjustments: | |||||||||||||||||
IFRS16 lease adjustments | (106) | (119) | 0 | ||||||||||||||
Corporate office lease | 0 | 0 | (9) | ||||||||||||||
Unamortised portion of borrowing costs | 23 | 16 | 13 | ||||||||||||||
Cash restricted for use (note 23) | (73) | (64) | (66) | ||||||||||||||
Adjusted net debt | 597 | 1,581 | 1,659 | ||||||||||||||
The Adjusted EBITDA calculation included in this note is based on the formula included in the Revolving Credit Agreements for compliance with the debt covenant formula. | |||||||||||||||||
Adjusted EBITDA from continuing operations | |||||||||||||||||
Profit (loss) before taxation | 1,589 | 619 | 445 | ||||||||||||||
Add back: | |||||||||||||||||
Finance costs and unwinding of obligations (note 7) | 177 | 172 | 168 | ||||||||||||||
Interest income | (27) | (14) | (8) | ||||||||||||||
Amortisation of tangible, intangible and right of use assets (note 4) | 570 | 583 | 558 | ||||||||||||||
Other amortisation | 6 | 6 | 11 | ||||||||||||||
Associates and joint ventures’ adjustments for amortisation, interest, taxation and other | 168 | 149 | 158 | ||||||||||||||
EBITDA | 2,483 | 1,515 | 1,332 | ||||||||||||||
Adjustments: | |||||||||||||||||
Foreign exchange and other (gains) losses | 0 | 12 | 9 | ||||||||||||||
Dividend income | (2) | 0 | (2) | ||||||||||||||
Retrenchment and related costs | 2 | 7 | 4 | ||||||||||||||
Care and maintenance costs (note 6) | 0 | 47 | 39 | ||||||||||||||
Impairment, derecognition of assets and (profit) loss on disposal | 1 | 6 | 7 | ||||||||||||||
Profit on disposal of joint ventures | (19) | 0 | 0 | ||||||||||||||
Loss (gain) on non-hedge derivatives and other commodity contracts | 5 | (5) | 2 | ||||||||||||||
Associates and joint ventures’ share of costs | 0 | (2) | (3) | ||||||||||||||
Adjusted EBITDA (as defined in the Revolving Credit Agreements) | 2,470 | 1,580 | 1,388 | ||||||||||||||
Gearing ratio (Adjusted net debt to Adjusted EBITDA) | 0.24:1 | 1.00:1 | 1.20:1 | ||||||||||||||
Maximum debt covenant ratio allowed per agreement | 3.5:1 | 3.5:1 | 3.5:1 |
US Dollars | |||||||||||||||||
Figures in millions | 2022 | 2021 | 2020 | ||||||||||||||
Restated | |||||||||||||||||
Adjusted net debt from continuing operations | |||||||||||||||||
Borrowings - non-current portion (note 24) | 1,965 | 1,858 | 1,789 | ||||||||||||||
Lease liabilities - non-current portion (note 14) | 102 | 124 | 116 | ||||||||||||||
Borrowings - current portion (note 24) | 18 | 51 | 142 | ||||||||||||||
Lease liabilities - current portion (note 14) | 84 | 61 | 37 | ||||||||||||||
Total borrowings | 2,169 | 2,094 | 2,084 | ||||||||||||||
Less: cash and cash equivalents (1) (note 22) | (1,106) | (1,154) | (1,330) | ||||||||||||||
Net debt | 1,063 | 940 | 754 | ||||||||||||||
Adjustments: | |||||||||||||||||
IFRS16 lease adjustments | (158) | (149) | (106) | ||||||||||||||
Unamortised portion of borrowing costs | 33 | 32 | 22 | ||||||||||||||
Cash restricted for use (note 21) | (60) | (58) | (73) | ||||||||||||||
Adjusted net debt | 878 | 765 | 597 | ||||||||||||||
(1) Net of bank overdraft in 2022. | |||||||||||||||||
The Adjusted EBITDA calculation included in this note is based on the formula included in the agreements for compliance with the debt covenant formulas. | |||||||||||||||||
Adjusted EBITDA from continuing operations | |||||||||||||||||
Profit (loss) before taxation | 489 | 958 | 1,627 | ||||||||||||||
Add back: | |||||||||||||||||
Finance costs and unwinding of obligations (note 6) | 149 | 116 | 177 | ||||||||||||||
Interest income | (81) | (58) | (27) | ||||||||||||||
Amortisation of tangible, intangible and right of use assets (note 4) | 633 | 477 | 575 | ||||||||||||||
Other amortisation | (3) | 4 | 6 | ||||||||||||||
Associates and joint ventures’ adjustments for amortisation, interest and taxation | 165 | 183 | 168 | ||||||||||||||
EBITDA | 1,352 | 1,680 | 2,526 | ||||||||||||||
Adjustments: | |||||||||||||||||
Foreign exchange and fair value adjustments | 128 | 43 | — | ||||||||||||||
Dividend income | — | — | (2) | ||||||||||||||
Retrenchment and related costs | 6 | 20 | 2 | ||||||||||||||
Care and maintenance costs (note 5) | — | 45 | — | ||||||||||||||
Impairment, derecognition of assets and (profit) loss on disposal | 304 | (11) | 1 | ||||||||||||||
Profit on disposal of joint ventures | — | — | (19) | ||||||||||||||
Premium on settlement of bonds | — | 24 | — | ||||||||||||||
Loss (gain) on non-hedge derivatives and other commodity contracts | 6 | — | 5 | ||||||||||||||
Associates and joint ventures’ share of costs | 1 | — | — | ||||||||||||||
Adjusted EBITDA (as defined in the agreements) | 1,797 | 1,801 | 2,513 | ||||||||||||||
Gearing ratio (Adjusted net debt to Adjusted EBITDA) | 0.49:1 | 0.42:1 | 0.24:1 | ||||||||||||||
Maximum debt covenant ratio allowed per agreement | 3.5:1 | 3.5:1 | 3.5:1 |
Figures in millions (US dollars) | 2020 | 2020 | 2020 | 2020 | 2020 | ||||||||||||||||||||||||
Condensed consolidating income statement | AngloGold Ashanti (the “Guarantor”) | IOMco (the “Issuer”) | Other subsidiaries (the “Non-Guarantor Subsidiaries”) | Consolidation adjustments | Total | ||||||||||||||||||||||||
Revenue from product sales | 0 | 0 | 4,427 | 0 | 4,427 | ||||||||||||||||||||||||
Cost of sales | 0 | 0 | (2,699) | 0 | (2,699) | ||||||||||||||||||||||||
Gain (loss) on non-hedge derivatives and other commodity contracts | 0 | 0 | (14) | (5) | (19) | ||||||||||||||||||||||||
Gross profit (loss) | 0 | 0 | 1,714 | (5) | 1,709 | ||||||||||||||||||||||||
Corporate administration, marketing and other income (expenses) | (38) | (15) | (8) | (7) | (68) | ||||||||||||||||||||||||
Exploration and evaluation costs | 0 | 0 | (124) | 0 | (124) | ||||||||||||||||||||||||
Impairment, derecognition of assets and profit (loss) on disposal | 0 | 0 | (1) | 0 | (1) | ||||||||||||||||||||||||
Other income (expenses) | (16) | (4) | (40) | 3 | (57) | ||||||||||||||||||||||||
Operating profit (loss) | (54) | (19) | 1,541 | (9) | 1,459 | ||||||||||||||||||||||||
Interest income | 3 | 7 | 17 | 0 | 27 | ||||||||||||||||||||||||
Dividend received | 9 | 0 | (7) | 0 | 2 | ||||||||||||||||||||||||
Foreign exchange and other gains (losses) | (3) | 1 | 2 | 0 | 0 | ||||||||||||||||||||||||
Finance costs and unwinding of obligations | (11) | (119) | (63) | 16 | (177) | ||||||||||||||||||||||||
Share of associates and joint ventures’ profit (loss) | 0 | 0 | 444 | (166) | 278 | ||||||||||||||||||||||||
Equity gain (loss) in subsidiaries | 1,126 | 1,263 | 0 | (2,389) | 0 | ||||||||||||||||||||||||
Profit (loss) before taxation | 1,070 | 1,133 | 1,934 | (2,548) | 1,589 | ||||||||||||||||||||||||
Taxation | (74) | 0 | (551) | 0 | (625) | ||||||||||||||||||||||||
Profit (loss) after taxation from continuing operations | 996 | 1,133 | 1,383 | (2,548) | 964 | ||||||||||||||||||||||||
Discontinued operations | |||||||||||||||||||||||||||||
Profit (loss) from discontinued operations | (43) | 0 | 5 | 45 | 7 | ||||||||||||||||||||||||
Profit (loss) for the period | 953 | 1,133 | 1,388 | (2,503) | 971 | ||||||||||||||||||||||||
Allocated as follows: | |||||||||||||||||||||||||||||
Equity shareholders | |||||||||||||||||||||||||||||
- Continuing operations | 996 | 1,133 | 1,365 | (2,548) | 946 | ||||||||||||||||||||||||
- Discontinued operations | (43) | 0 | 5 | 45 | 7 | ||||||||||||||||||||||||
Non-controlling interests | |||||||||||||||||||||||||||||
- Continuing operations | 0 | 0 | 18 | 0 | 18 | ||||||||||||||||||||||||
953 | 1,133 | 1,388 | (2,503) | 971 | |||||||||||||||||||||||||
Comprehensive income (loss) | 1,077 | 1,251 | 1,427 | (2,660) | 1,095 | ||||||||||||||||||||||||
Comprehensive (income) loss attributable to non-controlling interests | 0 | 0 | (18) | 0 | (18) | ||||||||||||||||||||||||
Comprehensive income (loss) attributable to AngloGold Ashanti | 1,077 | 1,251 | 1,409 | (2,660) | 1,077 |
Figures in millions (US dollars) | 2019 | 2019 | 2019 | 2019 | 2019 | ||||||||||||||||||||||||
Condensed consolidating income statement | AngloGold Ashanti (the “Guarantor”) | IOMco (the “Issuer”) | Other subsidiaries (the “Non-Guarantor Subsidiaries”) | Consolidation adjustments | Total | ||||||||||||||||||||||||
Revenue from product sales | 0 | 0 | 3,525 | 0 | 3,525 | ||||||||||||||||||||||||
Cost of sales | (1) | 0 | (2,625) | 0 | (2,626) | ||||||||||||||||||||||||
Gain (loss) on non-hedge derivatives and other commodity contracts | 0 | 0 | 5 | 0 | 5 | ||||||||||||||||||||||||
Gross profit (loss) | (1) | 0 | 905 | 0 | 904 | ||||||||||||||||||||||||
Corporate administration, marketing and other income (expenses) | (41) | (6) | (17) | (18) | (82) | ||||||||||||||||||||||||
Exploration and evaluation costs | 0 | 0 | (112) | 0 | (112) | ||||||||||||||||||||||||
Impairment, derecognition of assets and profit (loss) on disposal | 0 | (3) | (6) | 3 | (6) | ||||||||||||||||||||||||
Other income (expenses) | (10) | 3 | 135 | (211) | (83) | ||||||||||||||||||||||||
Operating profit (loss) | (52) | (6) | 905 | (226) | 621 | ||||||||||||||||||||||||
Interest income | 3 | 6 | 5 | 0 | 14 | ||||||||||||||||||||||||
Foreign exchange and other gains (losses) | 0 | (4) | (8) | 0 | (12) | ||||||||||||||||||||||||
Finance costs and unwinding of obligations | (16) | (106) | (56) | 6 | (172) | ||||||||||||||||||||||||
Share of associates and joint ventures’ profit (loss) | 0 | 0 | 154 | 14 | 168 | ||||||||||||||||||||||||
Equity gain (loss) in subsidiaries | 302 | 815 | 0 | (1,117) | 0 | ||||||||||||||||||||||||
Profit (loss) before taxation | 237 | 705 | 1,000 | (1,323) | 619 | ||||||||||||||||||||||||
Taxation | 32 | 0 | (282) | 0 | (250) | ||||||||||||||||||||||||
Profit (loss) after taxation from continuing operations | 269 | 705 | 718 | (1,323) | 369 | ||||||||||||||||||||||||
Discontinued operations | |||||||||||||||||||||||||||||
Profit (loss) from discontinued operations | (281) | 0 | (95) | 0 | (376) | ||||||||||||||||||||||||
Profit (loss) for the period | (12) | 705 | 623 | (1,323) | (7) | ||||||||||||||||||||||||
Allocated as follows: | |||||||||||||||||||||||||||||
Equity shareholders | |||||||||||||||||||||||||||||
- Continuing operations | 269 | 705 | 713 | (1,323) | 364 | ||||||||||||||||||||||||
- Discontinued operations | (281) | 0 | (95) | 0 | (376) | ||||||||||||||||||||||||
Non-controlling interests | |||||||||||||||||||||||||||||
Continuing operations | 0 | 0 | 5 | 0 | 5 | ||||||||||||||||||||||||
(12) | 705 | 623 | (1,323) | (7) | |||||||||||||||||||||||||
Comprehensive income (loss) | 2 | 717 | 618 | (1,330) | 7 | ||||||||||||||||||||||||
Comprehensive (income) loss attributable to non-controlling interests | 0 | 0 | (5) | 0 | (5) | ||||||||||||||||||||||||
Comprehensive income (loss) attributable to AngloGold Ashanti | 2 | 717 | 613 | (1,330) | 2 |
Figures in millions (US dollars) | 2018 | 2018 | 2018 | 2018 | 2018 | ||||||||||||||||||||||||
Condensed consolidating income statement | AngloGold Ashanti (the “Guarantor”) | IOMco (the “Issuer”) | Other subsidiaries (the “Non-Guarantor Subsidiaries”) | Consolidation adjustments | Total | ||||||||||||||||||||||||
Revenue from product sales | 0 | 0 | 3,336 | 0 | 3,336 | ||||||||||||||||||||||||
Cost of sales | (2) | 0 | (2,582) | 0 | (2,584) | ||||||||||||||||||||||||
Gain (loss) on non-hedge derivatives and other commodity contracts | 0 | 0 | (2) | 0 | (2) | ||||||||||||||||||||||||
Gross profit (loss) | (2) | 0 | 752 | 0 | 750 | ||||||||||||||||||||||||
Corporate administration, marketing and other income (expenses) | (12) | (20) | (13) | (31) | (76) | ||||||||||||||||||||||||
Exploration and evaluation costs | 0 | 0 | (98) | 0 | (98) | ||||||||||||||||||||||||
Impairment, derecognition of assets and profit (loss) on disposal | 0 | 1 | (9) | 1 | (7) | ||||||||||||||||||||||||
Other income (expenses) | (10) | 10 | (70) | (9) | (79) | ||||||||||||||||||||||||
Operating profit (loss) | (24) | (9) | 562 | (39) | 490 | ||||||||||||||||||||||||
Interest income | 0 | 4 | 4 | 0 | 8 | ||||||||||||||||||||||||
Dividend received | 2 | 0 | 0 | 0 | 2 | ||||||||||||||||||||||||
Foreign exchange and other gains (losses) | 0 | (6) | (3) | 0 | (9) | ||||||||||||||||||||||||
Finance costs and unwinding of obligations | (16) | (107) | (45) | 0 | (168) | ||||||||||||||||||||||||
Share of associates and joint ventures’ profit (loss) | 5 | 0 | 108 | 9 | 122 | ||||||||||||||||||||||||
Equity gain (loss) in subsidiaries | 142 | 490 | 0 | (632) | 0 | ||||||||||||||||||||||||
Profit (loss) before taxation | 109 | 372 | 626 | (662) | 445 | ||||||||||||||||||||||||
Taxation | 23 | 0 | (235) | 0 | (212) | ||||||||||||||||||||||||
Profit (loss) after taxation from continuing operations | 132 | 372 | 391 | (662) | 233 | ||||||||||||||||||||||||
Discontinued operations | |||||||||||||||||||||||||||||
Profit (loss) from discontinued operations | 1 | 0 | (84) | 0 | (83) | ||||||||||||||||||||||||
Profit (loss) for the period | 133 | 372 | 307 | (662) | 150 | ||||||||||||||||||||||||
Allocated as follows: | |||||||||||||||||||||||||||||
Equity shareholders | |||||||||||||||||||||||||||||
- Continuing operations | 132 | 372 | 374 | (662) | 216 | ||||||||||||||||||||||||
- Discontinued operations | 1 | 0 | (84) | 0 | (83) | ||||||||||||||||||||||||
Non-controlling interests | |||||||||||||||||||||||||||||
- Continuing operations | 0 | 0 | 17 | 0 | 17 | ||||||||||||||||||||||||
133 | 372 | 307 | (662) | 150 | |||||||||||||||||||||||||
Comprehensive income (loss) | (8) | 320 | 301 | (604) | 9 | ||||||||||||||||||||||||
Comprehensive (income) loss attributable to non-controlling interests | 0 | 0 | (17) | 0 | (17) | ||||||||||||||||||||||||
Comprehensive income (loss) attributable to AngloGold Ashanti | (8) | 320 | 284 | (604) | (8) |
Figures in millions (US dollars) | 2020 | 2020 | 2020 | 2020 | 2020 | ||||||||||||||||||||||||
Condensed consolidating statement of financial position | AngloGold Ashanti (the “Guarantor”) | IOMco (the “Issuer”) | Other subsidiaries (the “Non-Guarantor Subsidiaries”) | Consolidation adjustments | Total | ||||||||||||||||||||||||
ASSETS | |||||||||||||||||||||||||||||
Non-current assets | |||||||||||||||||||||||||||||
Tangible and right of use assets | 2 | 0 | 3,001 | 22 | 3,026 | ||||||||||||||||||||||||
Intangible assets | 1 | 0 | 132 | (1) | 131 | ||||||||||||||||||||||||
Investments in subsidiaries, associates and joint ventures | 3,859 | 5,019 | 1,609 | (8,835) | 1,651 | ||||||||||||||||||||||||
Other investments | 1 | 3 | 185 | (2) | 188 | ||||||||||||||||||||||||
Inventories | 0 | 0 | 69 | 0 | 69 | ||||||||||||||||||||||||
Trade and other receivables | 28 | 33 | 203 | (29) | 235 | ||||||||||||||||||||||||
Deferred taxation | 0 | 0 | 7 | 0 | 7 | ||||||||||||||||||||||||
Cash restricted for use | 0 | 0 | 31 | 0 | 31 | ||||||||||||||||||||||||
3,891 | 5,055 | 5,237 | (8,845) | 5,338 | |||||||||||||||||||||||||
Current assets | |||||||||||||||||||||||||||||
Inventories, trade and other receivables, intergroup balances and other current assets | 84 | 812 | 1,574 | (1,508) | 962 | ||||||||||||||||||||||||
Cash restricted for use | 0 | 0 | 42 | 0 | 42 | ||||||||||||||||||||||||
Cash and cash equivalents | 176 | 572 | 582 | 0 | 1,330 | ||||||||||||||||||||||||
260 | 1,384 | 2,198 | (1,508) | 2,334 | |||||||||||||||||||||||||
Assets held for sale | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||
260 | 1,384 | 2,198 | (1,508) | 2,334 | |||||||||||||||||||||||||
Total assets | 4,151 | 6,439 | 7,435 | (10,353) | 7,672 | ||||||||||||||||||||||||
EQUITY AND LIABILITIES | |||||||||||||||||||||||||||||
Share capital and premium | 7,214 | 6,096 | 807 | (6,903) | 7,214 | ||||||||||||||||||||||||
Retained earnings (accumulated losses) and other reserves | (3,519) | (1,694) | 2,369 | (675) | (3,519) | ||||||||||||||||||||||||
Shareholders’ equity | 3,695 | 4,402 | 3,176 | (7,578) | 3,695 | ||||||||||||||||||||||||
Non-controlling interests | 0 | 0 | 45 | 0 | 45 | ||||||||||||||||||||||||
Total equity | 3,695 | 4,402 | 3,221 | (7,578) | 3,740 | ||||||||||||||||||||||||
Non-current liabilities | 128 | 1,724 | 1,121 | 0 | 2,973 | ||||||||||||||||||||||||
Current liabilities including intergroup balances | 328 | 313 | 3,093 | (2,775) | 959 | ||||||||||||||||||||||||
Liabilities held for sale | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||
Total liabilities | 456 | 2,037 | 4,214 | (2,775) | 3,932 | ||||||||||||||||||||||||
Total equity and liabilities | 4,151 | 6,439 | 7,435 | (10,353) | 7,672 |
Figures in millions (US dollars) | 2019 | 2019 | 2019 | 2019 | 2019 | ||||||||||||||||||||||||
Condensed consolidating statement of financial position | AngloGold Ashanti (the “Guarantor”) | IOMco (the “Issuer”) | Other subsidiaries (the “Non-Guarantor Subsidiaries”) | Consolidation adjustments | Total | ||||||||||||||||||||||||
ASSETS | |||||||||||||||||||||||||||||
Non-current assets | |||||||||||||||||||||||||||||
Tangible assets and right of use assets | 4 | 0 | 2,740 | 6 | 2,750 | ||||||||||||||||||||||||
Intangible assets | 1 | 0 | 123 | (1) | 123 | ||||||||||||||||||||||||
Investments in subsidiaries, associates and joint ventures | 2,646 | 4,612 | 1,459 | (7,136) | 1,581 | ||||||||||||||||||||||||
Other investments | 2 | 2 | 74 | (2) | 76 | ||||||||||||||||||||||||
Inventories | 0 | 0 | 93 | 0 | 93 | ||||||||||||||||||||||||
Trade and other receivables | 0 | 29 | 122 | (29) | 122 | ||||||||||||||||||||||||
Deferred taxation | 105 | 0 | 0 | 0 | 105 | ||||||||||||||||||||||||
Cash restricted for use | 0 | 0 | 31 | 0 | 31 | ||||||||||||||||||||||||
2,758 | 4,643 | 4,642 | (7,162) | 4,881 | |||||||||||||||||||||||||
Current assets | |||||||||||||||||||||||||||||
Other investments | 0 | 10 | 0 | 0 | 10 | ||||||||||||||||||||||||
Inventories, trade and other receivables, intergroup balances and other current assets | 333 | 619 | 1,247 | (1,317) | 882 | ||||||||||||||||||||||||
Cash restricted for use | 0 | 0 | 33 | 0 | 33 | ||||||||||||||||||||||||
Cash and cash equivalents | 12 | 102 | 342 | 0 | 456 | ||||||||||||||||||||||||
345 | 731 | 1,622 | (1,317) | 1,381 | |||||||||||||||||||||||||
Assets held for sale | 253 | 0 | 348 | 0 | 601 | ||||||||||||||||||||||||
598 | 731 | 1,970 | (1,317) | 1,982 | |||||||||||||||||||||||||
Total assets | 3,356 | 5,374 | 6,612 | (8,479) | 6,863 | ||||||||||||||||||||||||
EQUITY AND LIABILITIES | |||||||||||||||||||||||||||||
Share capital and premium | 7,199 | 6,096 | 837 | (6,933) | 7,199 | ||||||||||||||||||||||||
Retained earnings (accumulated losses) and other reserves | (4,559) | (2,715) | 1,668 | 1,047 | (4,559) | ||||||||||||||||||||||||
Shareholders’ equity | 2,640 | 3,381 | 2,505 | (5,886) | 2,640 | ||||||||||||||||||||||||
Non-controlling interests | 0 | 0 | 36 | 0 | 36 | ||||||||||||||||||||||||
Total equity | 2,640 | 3,381 | 2,541 | (5,886) | 2,676 | ||||||||||||||||||||||||
Non-current liabilities | 225 | 1,031 | 1,222 | 0 | 2,478 | ||||||||||||||||||||||||
Current liabilities including intergroup balances | 401 | 962 | 2,667 | (2,593) | 1,437 | ||||||||||||||||||||||||
Liabilities held for sale | 90 | 0 | 182 | 0 | 272 | ||||||||||||||||||||||||
Total liabilities | 716 | 1,993 | 4,071 | (2,593) | 4,187 | ||||||||||||||||||||||||
Total equity and liabilities | 3,356 | 5,374 | 6,612 | (8,479) | 6,863 |
Figures in millions (US dollars) | 2018 | 2018 | 2018 | 2018 | 2018 | ||||||||||||||||||||||||
Condensed consolidating statement of financial position | AngloGold Ashanti (the “Guarantor”) | IOMco (the “Issuer”) | Other subsidiaries (the “Non-Guarantor Subsidiaries”) | Consolidation adjustments | Total | ||||||||||||||||||||||||
ASSETS | |||||||||||||||||||||||||||||
Non-current assets | |||||||||||||||||||||||||||||
Tangible assets | 625 | 0 | 2,756 | 0 | 3,381 | ||||||||||||||||||||||||
Intangible assets | 1 | 0 | 123 | (1) | 123 | ||||||||||||||||||||||||
Investments in subsidiaries, associates and joint ventures | 2,383 | 4,255 | 1,398 | (6,508) | 1,528 | ||||||||||||||||||||||||
Other investments | 2 | 3 | 138 | (2) | 141 | ||||||||||||||||||||||||
Inventories | 1 | 0 | 105 | 0 | 106 | ||||||||||||||||||||||||
Trade and other receivables | 0 | 29 | 102 | (29) | 102 | ||||||||||||||||||||||||
Cash restricted for use | 0 | 0 | 35 | 0 | 35 | ||||||||||||||||||||||||
3,012 | 4,287 | 4,657 | (6,540) | 5,416 | |||||||||||||||||||||||||
Current assets | |||||||||||||||||||||||||||||
Other investments | 0 | 6 | 0 | 0 | 6 | ||||||||||||||||||||||||
Inventories, trade and other receivables, intergroup balances and other current assets | 390 | 416 | 1,166 | (1,111) | 861 | ||||||||||||||||||||||||
Cash restricted for use | 0 | 0 | 31 | 0 | 31 | ||||||||||||||||||||||||
Cash and cash equivalents | 7 | 97 | 225 | 0 | 329 | ||||||||||||||||||||||||
397 | 519 | 1,422 | (1,111) | 1,227 | |||||||||||||||||||||||||
Total assets | 3,409 | 4,806 | 6,079 | (7,651) | 6,643 | ||||||||||||||||||||||||
EQUITY AND LIABILITIES | |||||||||||||||||||||||||||||
Share capital and premium | 7,171 | 6,096 | 821 | (6,917) | 7,171 | ||||||||||||||||||||||||
Retained earnings (accumulated losses) and other reserves | (4,519) | (3,310) | 1,406 | 1,904 | (4,519) | ||||||||||||||||||||||||
Shareholders’ equity | 2,652 | 2,786 | 2,227 | (5,013) | 2,652 | ||||||||||||||||||||||||
Non-controlling interests | 0 | 0 | 42 | 0 | 42 | ||||||||||||||||||||||||
Total equity | 2,652 | 2,786 | 2,269 | (5,013) | 2,694 | ||||||||||||||||||||||||
Non-current liabilities | 319 | 1,734 | 1,103 | 0 | 3,156 | ||||||||||||||||||||||||
Current liabilities including intergroup balances | 438 | 286 | 2,707 | (2,638) | 793 | ||||||||||||||||||||||||
Total liabilities | 757 | 2,020 | 3,810 | (2,638) | 3,949 | ||||||||||||||||||||||||
Total equity and liabilities | 3,409 | 4,806 | 6,079 | (7,651) | 6,643 |
Figures in millions (US dollars) | 2020 | 2020 | 2020 | 2020 | 2020 | ||||||||||||||||||||||||
Condensed consolidating statement of cash flow | AngloGold Ashanti (the “Guarantor”) | IOMco (the “Issuer”) | Other subsidiaries (the “Non-Guarantor Subsidiaries”) | Consolidation adjustments | Total | ||||||||||||||||||||||||
Cash flows from operating activities | |||||||||||||||||||||||||||||
Cash generated from (used by) operations | (100) | (18) | 1,948 | (2) | 1,828 | ||||||||||||||||||||||||
Net movement in intergroup receivables and payables | 29 | (218) | 191 | (2) | 0 | ||||||||||||||||||||||||
Dividends received from joint ventures | 0 | 148 | 0 | 0 | 148 | ||||||||||||||||||||||||
Taxation paid | 0 | 0 | (431) | 0 | (431) | ||||||||||||||||||||||||
Net cash inflow (outflow) from operating activities from continuing operations | (71) | (88) | 1,708 | (4) | 1,545 | ||||||||||||||||||||||||
Net cash inflow (outflow) from operating activities from discontinued operations | 74 | 0 | 35 | 0 | 109 | ||||||||||||||||||||||||
Net cash inflow (outflow) from operating activities | 3 | (88) | 1,743 | (4) | 1,654 | ||||||||||||||||||||||||
Cash flows from investing activities | |||||||||||||||||||||||||||||
Capital expenditure | 0 | 0 | (701) | 0 | (701) | ||||||||||||||||||||||||
Interest capitalised and paid | 0 | 0 | 0 | (17) | (17) | ||||||||||||||||||||||||
Acquisition of intangible assets | (1) | 0 | 0 | 0 | (1) | ||||||||||||||||||||||||
Proceeds from disposal of tangible assets | 1 | 0 | 2 | 0 | 3 | ||||||||||||||||||||||||
Dividends from other investments | 9 | 0 | 0 | 0 | 9 | ||||||||||||||||||||||||
Other investments acquired | 0 | 0 | (8) | 0 | (8) | ||||||||||||||||||||||||
Proceeds from disposal of other investments | 0 | 9 | 0 | 0 | 9 | ||||||||||||||||||||||||
Proceeds from disposal of joint ventures | 0 | 26 | 0 | 0 | 26 | ||||||||||||||||||||||||
Net loans repaid by (advanced to) associates and joint ventures | 10 | 2 | 0 | 0 | 12 | ||||||||||||||||||||||||
Disposal (acquisition) of subsidiaries and recognition of joint operation | (10) | (8) | 10 | 10 | 2 | ||||||||||||||||||||||||
Proceeds from disposal of discontinued assets and subsidiaries | 205 | 0 | 0 | (5) | 200 | ||||||||||||||||||||||||
Decrease (increase) in cash restricted for use | 1 | 0 | (10) | 0 | (9) | ||||||||||||||||||||||||
Interest received | 3 | 8 | 16 | 0 | 27 | ||||||||||||||||||||||||
Net cash inflow (outflow) from investing activities from continuing operations | 218 | 37 | (691) | (12) | (448) | ||||||||||||||||||||||||
Net cash inflow (outflow) from investing activities from discontinued operations | (24) | 0 | (7) | 0 | (31) | ||||||||||||||||||||||||
Cash in subsidiaries sold and transferred to held for sale | 0 | 0 | 3 | 0 | 3 | ||||||||||||||||||||||||
Net cash inflow (outflow) from investing activities | 194 | 37 | (695) | (12) | (476) | ||||||||||||||||||||||||
Cash flows from financing activities | |||||||||||||||||||||||||||||
Increase in share capital | 0 | 0 | 10 | (10) | 0 | ||||||||||||||||||||||||
Proceeds from borrowings | 133 | 2,050 | 43 | 0 | 2,226 | ||||||||||||||||||||||||
Repayment of borrowings | (193) | (2,050) | (114) | 0 | (2,357) | ||||||||||||||||||||||||
Finance costs paid | (7) | (98) | (30) | 17 | (118) | ||||||||||||||||||||||||
Other borrowing costs | 0 | (33) | 0 | 0 | (33) | ||||||||||||||||||||||||
Dividends paid | (38) | 0 | (9) | 0 | (47) | ||||||||||||||||||||||||
Intergroup dividends received (paid) | 52 | 652 | (704) | 0 | 0 | ||||||||||||||||||||||||
Net cash inflow (outflow) from financing activities from continuing operations | (53) | 521 | (804) | 7 | (329) | ||||||||||||||||||||||||
Net cash inflow (outflow) from financing activities from discontinued operations | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||
Net cash inflow (outflow) from financing activities | (53) | 521 | (804) | 7 | (329) | ||||||||||||||||||||||||
Net increase (decrease) in cash and cash equivalents | 144 | 470 | 244 | (9) | 849 | ||||||||||||||||||||||||
Translation | 20 | 0 | (4) | 9 | 25 | ||||||||||||||||||||||||
Cash and cash equivalents at beginning of year | 12 | 102 | 342 | 0 | 456 | ||||||||||||||||||||||||
Cash and cash equivalents at end of year | 176 | 572 | 582 | 0 | 1,330 |
Figures in millions (US dollars) | 2019 | 2019 | 2019 | 2019 | 2019 | ||||||||||||||||||||||||
Condensed consolidating statement of cash flow | AngloGold Ashanti (the “Guarantor”) | IOMco (the “Issuer”) | Other subsidiaries (the “Non-Guarantor Subsidiaries”) | Consolidation adjustments | Total | ||||||||||||||||||||||||
Cash flows from operating activities | |||||||||||||||||||||||||||||
Cash generated from (used by) operations | (59) | (8) | 1,165 | 4 | 1,102 | ||||||||||||||||||||||||
Net movement in intergroup receivables and payables | 35 | (205) | 177 | (7) | 0 | ||||||||||||||||||||||||
Dividends received from joint ventures | 0 | 77 | 0 | 0 | 77 | ||||||||||||||||||||||||
Taxation refund | 0 | 0 | 7 | 0 | 7 | ||||||||||||||||||||||||
Taxation paid | 0 | 0 | (228) | 0 | (228) | ||||||||||||||||||||||||
Net cash inflow (outflow) from operating activities from continuing operations | (24) | (136) | 1,121 | (3) | 958 | ||||||||||||||||||||||||
Net cash inflow (outflow) from operating activities from discontinued operations | 58 | 0 | 31 | 0 | 89 | ||||||||||||||||||||||||
Net cash inflow (outflow) from operating activities | 34 | (136) | 1,152 | (3) | 1,047 | ||||||||||||||||||||||||
Cash flows from investing activities | |||||||||||||||||||||||||||||
Capital expenditure | 0 | 0 | (703) | 0 | (703) | ||||||||||||||||||||||||
Interest capitalised and paid | 0 | 0 | 0 | (6) | (6) | ||||||||||||||||||||||||
Proceeds from disposal of tangible assets | 0 | 0 | 3 | 0 | 3 | ||||||||||||||||||||||||
Other investments acquired | 0 | 0 | (9) | 0 | (9) | ||||||||||||||||||||||||
Proceeds from disposal of other investments | 0 | 0 | 3 | 0 | 3 | ||||||||||||||||||||||||
Investments in associates and joint ventures | 0 | 0 | (5) | 0 | (5) | ||||||||||||||||||||||||
Net loans repaid by (advanced to) associates and joint ventures | 17 | 4 | (1) | 0 | 20 | ||||||||||||||||||||||||
Increase in investment in subsidiary | (16) | — | — | 16 | — | ||||||||||||||||||||||||
Disposal (acquisition) of subsidiaries | 0 | (8) | 8 | 0 | 0 | ||||||||||||||||||||||||
Interest received | 3 | 5 | 6 | 0 | 14 | ||||||||||||||||||||||||
Net cash inflow (outflow) from investing activities from continuing operations | 4 | 1 | (698) | 10 | (683) | ||||||||||||||||||||||||
Net cash inflow (outflow) from investing activities from discontinued operations | (46) | 0 | (8) | 0 | (54) | ||||||||||||||||||||||||
Cash in subsidiaries sold and transferred to held for sale | 0 | 0 | (6) | 0 | (6) | ||||||||||||||||||||||||
Net cash inflow (outflow) from investing activities | (42) | 1 | (712) | 10 | (743) | ||||||||||||||||||||||||
Cash flows from financing activities | |||||||||||||||||||||||||||||
Increase in share capital | 0 | 0 | 16 | (16) | 0 | ||||||||||||||||||||||||
Proceeds from borrowings | 130 | 0 | 38 | 0 | 168 | ||||||||||||||||||||||||
Repayment of borrowings | (124) | 0 | (41) | 0 | (165) | ||||||||||||||||||||||||
Finance costs paid | (10) | (102) | (31) | 6 | (137) | ||||||||||||||||||||||||
Dividends paid | (28) | 0 | (15) | 0 | (43) | ||||||||||||||||||||||||
Intergroup dividends received (paid) | 44 | 242 | (286) | 0 | 0 | ||||||||||||||||||||||||
Net cash inflow (outflow) from financing activities from continuing operations | 12 | 140 | (319) | (10) | (177) | ||||||||||||||||||||||||
Net cash inflow (outflow) from financing activities from discontinued operations | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||
Net cash inflow (outflow) from financing activities | 12 | 140 | (319) | (10) | (177) | ||||||||||||||||||||||||
Net increase (decrease) in cash and cash equivalents | 4 | 5 | 121 | (3) | 127 | ||||||||||||||||||||||||
Translation | 1 | 0 | (4) | 3 | 0 | ||||||||||||||||||||||||
Cash and cash equivalents at beginning of year | 7 | 97 | 225 | 0 | 329 | ||||||||||||||||||||||||
Cash and cash equivalents at end of year | 12 | 102 | 342 | 0 | 456 |
Figures in millions (US dollars) | 2018 | 2018 | 2018 | 2018 | 2018 | ||||||||||||||||||||||||
Condensed consolidating statement of cash flow | AngloGold Ashanti (the “Guarantor”) | IOMco (the “Issuer”) | Other subsidiaries (the “Non-Guarantor Subsidiaries”) | Consolidation adjustments | Total | ||||||||||||||||||||||||
Cash flows from operating activities | |||||||||||||||||||||||||||||
Cash generated from (used by) operations | (93) | (18) | 1,034 | 8 | 931 | ||||||||||||||||||||||||
Net movement in intergroup receivables and payables | 73 | (215) | 130 | 12 | 0 | ||||||||||||||||||||||||
Dividends received from joint ventures | 0 | 91 | 0 | 0 | 91 | ||||||||||||||||||||||||
Taxation refund | 0 | 0 | 5 | 0 | 5 | ||||||||||||||||||||||||
Taxation paid | 0 | 0 | (171) | 0 | (171) | ||||||||||||||||||||||||
Net cash inflow (outflow) from operating activities from continuing operations | (20) | (142) | 998 | 20 | 856 | ||||||||||||||||||||||||
Net cash inflow (outflow) from operating activities from discontinued operations | (27) | 0 | 28 | 0 | 1 | ||||||||||||||||||||||||
Net cash inflow (outflow) from operating activities | (47) | (142) | 1,026 | 20 | 857 | ||||||||||||||||||||||||
Cash flows from investing activities | |||||||||||||||||||||||||||||
Capital expenditure | 0 | 0 | (575) | 0 | (575) | ||||||||||||||||||||||||
Proceeds from disposal of tangible assets | 0 | 0 | 4 | 6 | 10 | ||||||||||||||||||||||||
Dividends from other investments | 2 | 0 | 0 | 0 | 2 | ||||||||||||||||||||||||
Other investments acquired | 0 | 0 | (13) | 0 | (13) | ||||||||||||||||||||||||
Proceeds from disposal of other investments | 0 | 0 | 7 | 0 | 7 | ||||||||||||||||||||||||
Investments in associates and joint ventures | 0 | 0 | (8) | 0 | (8) | ||||||||||||||||||||||||
Net loans repaid by (advanced to) associates and joint ventures | 9 | 10 | (2) | 0 | 17 | ||||||||||||||||||||||||
Disposal (acquisition) of subsidiaries | 0 | (7) | 7 | 0 | 0 | ||||||||||||||||||||||||
Decrease (increase) in cash restricted for use | 0 | 1 | (6) | (1) | (6) | ||||||||||||||||||||||||
Interest received | 0 | 1 | 4 | 0 | 5 | ||||||||||||||||||||||||
Net cash inflow (outflow) from investing activities from continuing operations | 11 | 5 | (582) | 5 | (561) | ||||||||||||||||||||||||
Net cash inflow (outflow) from investing activities from discontinued operations | 207 | 0 | 19 | 0 | 226 | ||||||||||||||||||||||||
Net cash inflow (outflow) from investing activities | 218 | 5 | (563) | 5 | (335) | ||||||||||||||||||||||||
Cash flows from financing activities | |||||||||||||||||||||||||||||
Proceeds from borrowings | 407 | 45 | 301 | 0 | 753 | ||||||||||||||||||||||||
Repayment of borrowings | (570) | (80) | (317) | 0 | (967) | ||||||||||||||||||||||||
Finance costs paid | (12) | (102) | (16) | 0 | (130) | ||||||||||||||||||||||||
Other borrowing costs | 0 | (10) | 0 | 0 | (10) | ||||||||||||||||||||||||
Dividends paid | (24) | 0 | (15) | 0 | (39) | ||||||||||||||||||||||||
Intergroup dividends received (paid) | 25 | 360 | (386) | 1 | 0 | ||||||||||||||||||||||||
Net cash inflow (outflow) from financing activities from continuing operations | (174) | 213 | (433) | 1 | (393) | ||||||||||||||||||||||||
Net cash inflow (outflow) from financing activities from discontinued operations | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||
Net cash inflow (outflow) from financing activities | (174) | 213 | (433) | 1 | (393) | ||||||||||||||||||||||||
Net increase (decrease) in cash and cash equivalents | (3) | 76 | 30 | 26 | 129 | ||||||||||||||||||||||||
Translation | (1) | 0 | 22 | (26) | (5) | ||||||||||||||||||||||||
Cash and cash equivalents at beginning of year | 11 | 21 | 173 | 0 | 205 | ||||||||||||||||||||||||
Cash and cash equivalents at end of year | 7 | 97 | 225 | 0 | 329 |
PAGE | |||||
Report of independent registered public accounting firm | F - | ||||
(BDO LLP: London, United Kingdom: PCAOB ID # 1295) | |||||
Consolidated statements of profit or loss and other comprehensive income for the years ended 31 December | F - | ||||
Consolidated statements of financial position as at 31 December | F - | ||||
Consolidated statements of changes in equity for the years ended 31 December | F - | ||||
Consolidated statements of cash flows for the years ended 31 December | F - | ||||
Notes to the consolidated financial statements | F - |
31 Dec | 31 Dec | 31 Dec | 31 Dec | 31 Dec | 31 Dec | |||||||||||||||||||||||||||||||||||||||||||||||
Note | 2020 | 2019 | 2018 | Note | 2022 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||||||||||
US$’000 | US$’000 | US$’000 | US$’000 | US$’000 | US$’000 | |||||||||||||||||||||||||||||||||||||||||||||||
REVENUE | REVENUE | REVENUE | ||||||||||||||||||||||||||||||||||||||||||||||||||
Gold sales | Gold sales | 4 | 1,440,328 | 1,122,940 | 1,041,035 | Gold sales | 3/25 | 1,328,306 | 1,469,221 | 1,440,328 | ||||||||||||||||||||||||||||||||||||||||||
Other income | Other income | 5 | 2,204 | 170 | 56,838 | Other income | 4 | 539 | 1,208 | 2,204 | ||||||||||||||||||||||||||||||||||||||||||
TOTAL INCOME | TOTAL INCOME | 1,442,532 | 1,123,110 | 1,097,873 | TOTAL INCOME | 1,328,845 | 1,470,429 | 1,442,532 | ||||||||||||||||||||||||||||||||||||||||||||
COSTS AND EXPENSES | COSTS AND EXPENSES | COSTS AND EXPENSES | ||||||||||||||||||||||||||||||||||||||||||||||||||
Mining and processing costs | Mining and processing costs | 6 | 670,138 | 688,796 | 772,259 | Mining and processing costs | 5 | 674,019 | 688,086 | 670,138 | ||||||||||||||||||||||||||||||||||||||||||
Royalties | Royalties | 67,547 | 52,792 | 45,249 | Royalties | 62,472 | 68,704 | 67,547 | ||||||||||||||||||||||||||||||||||||||||||||
Exploration and corporate expenditure | Exploration and corporate expenditure | 7 | 6,274 | 13,686 | 6,154 | Exploration and corporate expenditure | 6 | 6,795 | 5,848 | 6,274 | ||||||||||||||||||||||||||||||||||||||||||
Other expenses | Other expenses | 5 | 37,477 | 6,021 | 45,288 | Other expenses | 4 | 52,778 | 33,246 | 37,477 | ||||||||||||||||||||||||||||||||||||||||||
TOTAL COSTS | TOTAL COSTS | 781,436 | 761,295 | 868,950 | TOTAL COSTS | 796,064 | 795,884 | 781,436 | ||||||||||||||||||||||||||||||||||||||||||||
Finance income | Finance income | 8 | 6,912 | 4,370 | 3,380 | Finance income | 7 | 5,187 | 5,618 | 6,912 | ||||||||||||||||||||||||||||||||||||||||||
Finance costs | Finance costs | 8 | (6,460) | (3,973) | (4,465) | Finance costs | 7 | (49,917) | (5,913) | (6,460) | ||||||||||||||||||||||||||||||||||||||||||
Finance income/costs – net | 452 | 397 | (1,085) | |||||||||||||||||||||||||||||||||||||||||||||||||
Share of profits of equity accounted joint venture | Share of profits of equity accounted joint venture | 25 | 239 | 34 | 132 | Share of profits of equity accounted joint venture | 24 | 157 | 103 | 239 | ||||||||||||||||||||||||||||||||||||||||||
PROFIT BEFORE INCOME TAX | PROFIT BEFORE INCOME TAX | 661,788 | 362,246 | 227,970 | PROFIT BEFORE INCOME TAX | 488,208 | 674,353 | 661,787 | ||||||||||||||||||||||||||||||||||||||||||||
Income tax expense | Income tax expense | 9 | (157,090) | (61,934) | (15,972) | Income tax expense | 8 | (155,946) | (180,715) | (157,090) | ||||||||||||||||||||||||||||||||||||||||||
PROFIT FOR THE YEAR | PROFIT FOR THE YEAR | 504,698 | 300,312 | 211,998 | PROFIT FOR THE YEAR | 332,262 | 493,638 | 504,697 | ||||||||||||||||||||||||||||||||||||||||||||
OTHER COMPREHENSIVE EXPENSE | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Gain/(Loss) on investment in marketable securities | 6 | (5) | (17) | |||||||||||||||||||||||||||||||||||||||||||||||||
OTHER COMPREHENSIVE INCOME/(EXPENSE) | OTHER COMPREHENSIVE INCOME/(EXPENSE) | |||||||||||||||||||||||||||||||||||||||||||||||||||
(Loss)/Gain on investment in marketable securities | (Loss)/Gain on investment in marketable securities | (2) | (2) | 6 | ||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMPREHENSIVE INCOME | TOTAL COMPREHENSIVE INCOME | 504,704 | 300,307 | 211,981 | TOTAL COMPREHENSIVE INCOME | 332,260 | 493,636 | 504,703 | ||||||||||||||||||||||||||||||||||||||||||||
PROFIT FOR THE YEAR | PROFIT FOR THE YEAR | PROFIT FOR THE YEAR | ||||||||||||||||||||||||||||||||||||||||||||||||||
Attributable to: | Attributable to: | Attributable to: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Owners of the parent | Owners of the parent | 472,533 | 288,401 | 207,750 | Owners of the parent | 306,330 | 461,271 | 472,533 | ||||||||||||||||||||||||||||||||||||||||||||
Non-controlling interest | Non-controlling interest | 32,164 | 11,911 | 4,248 | Non-controlling interest | 25,930 | 32,367 | 32,164 | ||||||||||||||||||||||||||||||||||||||||||||
504,697 | 300,312 | 211,998 | 332,260 | 493,638 | 504,697 | |||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMPREHENSIVE INCOME | TOTAL COMPREHENSIVE INCOME | TOTAL COMPREHENSIVE INCOME | ||||||||||||||||||||||||||||||||||||||||||||||||||
Attributable to: | Attributable to: | Attributable to: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Owners of the parent | Owners of the parent | 472,539 | 288,396 | 207,733 | Owners of the parent | 306,330 | 461,269 | 472,539 | ||||||||||||||||||||||||||||||||||||||||||||
Non-controlling interest | Non-controlling interest | 32,164 | 11,911 | 4,248 | Non-controlling interest | 25,930 | 32,367 | 32,164 | ||||||||||||||||||||||||||||||||||||||||||||
504,703 | 300,307 | 211,981 | 332,260 | 493,636 | 504,703 |
31 Dec | 31 Dec | 31 Dec | 31 Dec | 31 Dec | 31 Dec | |||||||||||||||||||||||||||||||||||||||||||||||
Note | 2020 | 2019 | 2018 | Note | 2022 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||||||||||
US$’000 | US$’000 | US$’000 | US$’000 | US$’000 | US$’000 | |||||||||||||||||||||||||||||||||||||||||||||||
NON-CURRENT ASSETS | NON-CURRENT ASSETS | NON-CURRENT ASSETS | ||||||||||||||||||||||||||||||||||||||||||||||||||
Property, plant and equipment | Property, plant and equipment | 10 | 1,846,746 | 1,892,847 | 1,988,533 | Property, plant and equipment | 9 | 1,844,984 | 1,811,291 | 1,846,746 | ||||||||||||||||||||||||||||||||||||||||||
Mineral properties | Mineral properties | 11 | 366,053 | 404,432 | 454,479 | Mineral properties | 10 | 308,141 | 334,881 | 366,053 | ||||||||||||||||||||||||||||||||||||||||||
Long term ore stockpiles | Long term ore stockpiles | 14 | 36,875 | 52,685 | 28,510 | Long term ore stockpiles | 13 | 20,160 | — | 36,875 | ||||||||||||||||||||||||||||||||||||||||||
Investment in equity accounted joint venture | 25 | 550 | 343 | 387 | ||||||||||||||||||||||||||||||||||||||||||||||||
Other investments in joint venture | 25 | 22,790 | 20,795 | 21,479 | ||||||||||||||||||||||||||||||||||||||||||||||||
Total investment in joint venture | 25 | 23,340 | 21,138 | 21,866 | ||||||||||||||||||||||||||||||||||||||||||||||||
Investment in Associate | Investment in Associate | 4 | 4 | |||||||||||||||||||||||||||||||||||||||||||||||||
Investment in joint venture | Investment in joint venture | 24 | 26,254 | 21,776 | 23,340 | |||||||||||||||||||||||||||||||||||||||||||||||
Trade and other receivables | Trade and other receivables | 13 | 185,768 | 140,987 | 137,852 | Trade and other receivables | 12 | 220,845 | 192,507 | 185,768 | ||||||||||||||||||||||||||||||||||||||||||
Deferred tax asset | 12 | — | 9,647 | 27,265 | ||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL NON-CURRENT ASSETS | TOTAL NON-CURRENT ASSETS | 2,458,782 | 2,521,736 | 2,658,505 | TOTAL NON-CURRENT ASSETS | 2,420,388 | 2,360,459 | 2,458,782 | ||||||||||||||||||||||||||||||||||||||||||||
CURRENT ASSETS | CURRENT ASSETS | CURRENT ASSETS | ||||||||||||||||||||||||||||||||||||||||||||||||||
Inventories and ore stockpiles | Inventories and ore stockpiles | 14 | 90,487 | 95,003 | 93,036 | Inventories and ore stockpiles | 13 | 75,921 | 107,951 | 90,487 | ||||||||||||||||||||||||||||||||||||||||||
Trade and other receivables | Trade and other receivables | 13 | 29,699 | 89,047 | 112,982 | Trade and other receivables | 12 | 124,940 | 53,915 | 29,699 | ||||||||||||||||||||||||||||||||||||||||||
Investment in marketable securities | Investment in marketable securities | 9 | 3 | 9 | Investment in marketable securities | 8 | 7 | 9 | ||||||||||||||||||||||||||||||||||||||||||||
Current tax receivable | Current tax receivable | 302 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents | Cash and cash equivalents | 22 | 944,233 | 452,692 | 123,931 | Cash and cash equivalents | 21 | 91,865 | 1,115,359 | 944,233 | ||||||||||||||||||||||||||||||||||||||||||
TOTAL CURRENT ASSETS | TOTAL CURRENT ASSETS | 1,064,428 | 636,745 | 329,958 | TOTAL CURRENT ASSETS | 293,036 | 1,277,232 | 1,064,428 | ||||||||||||||||||||||||||||||||||||||||||||
TOTAL ASSETS | TOTAL ASSETS | 3,523,210 | 3,158,481 | 2,988,463 | TOTAL ASSETS | 2,713,424 | 3,637,691 | 3,523,210 | ||||||||||||||||||||||||||||||||||||||||||||
EQUITY AND LIABILITIES | EQUITY AND LIABILITIES | EQUITY AND LIABILITIES | ||||||||||||||||||||||||||||||||||||||||||||||||||
Equity | Equity | Equity | ||||||||||||||||||||||||||||||||||||||||||||||||||
Share capital | Share capital | 15 | 5 | 5 | 5 | Share capital | 14 | 5 | 5 | 5 | ||||||||||||||||||||||||||||||||||||||||||
Share premium | Share premium | 15 | 2,523,612 | 2,523,612 | 2,523,612 | Share premium | 14 | 2,123,612 | 2,523,612 | 2,523,612 | ||||||||||||||||||||||||||||||||||||||||||
Retained earnings | 655,005 | 462,972 | 324,571 | |||||||||||||||||||||||||||||||||||||||||||||||||
Other reserve | (36) | (42) | (37) | |||||||||||||||||||||||||||||||||||||||||||||||||
(Accumulated deficit)/Retained earnings | (Accumulated deficit)/Retained earnings | (27,194) | 655,276 | 655,005 | ||||||||||||||||||||||||||||||||||||||||||||||||
Other deficit | Other deficit | (40) | (38) | (36) | ||||||||||||||||||||||||||||||||||||||||||||||||
Equity attributable to owners of the parent | Equity attributable to owners of the parent | 3,178,586 | 2,986,547 | 2,848,151 | Equity attributable to owners of the parent | 2,096,383 | 3,178,855 | 3,178,586 | ||||||||||||||||||||||||||||||||||||||||||||
Non-controlling interest | Non-controlling interest | 16 | 55,743 | 23,579 | 11,668 | Non-controlling interest | 15 | 85,040 | 68,110 | 55,743 | ||||||||||||||||||||||||||||||||||||||||||
TOTAL EQUITY | TOTAL EQUITY | 3,234,329 | 3,010,126 | 2,859,819 | TOTAL EQUITY | 2,181,423 | 3,246,965 | 3,234,329 | ||||||||||||||||||||||||||||||||||||||||||||
NON-CURRENT LIABILITIES | NON-CURRENT LIABILITIES | NON-CURRENT LIABILITIES | ||||||||||||||||||||||||||||||||||||||||||||||||||
Loans and borrowings 1 | 17 | — | 1,507 | 1,526 | ||||||||||||||||||||||||||||||||||||||||||||||||
Loans and borrowings | Loans and borrowings | 16 | — | 1,839 | — | |||||||||||||||||||||||||||||||||||||||||||||||
Lease liabilities | Lease liabilities | 17 | 50,457 | 43,821 | 27,465 | Lease liabilities | 16 | 51,045 | 41,839 | 50,457 | ||||||||||||||||||||||||||||||||||||||||||
Deferred tax liability | Deferred tax liability | 12 | 89,609 | — | — | Deferred tax liability | 11 | 296,507 | 196,654 | 89,609 | ||||||||||||||||||||||||||||||||||||||||||
Provision for rehabilitation | Provision for rehabilitation | 18 | 28,364 | 25,516 | 23,640 | Provision for rehabilitation | 17 | 23,233 | 29,026 | 28,364 | ||||||||||||||||||||||||||||||||||||||||||
TOTAL NON-CURRENT LIABILITIES | TOTAL NON-CURRENT LIABILITIES | 168,430 | 70,844 | 52,631 | TOTAL NON-CURRENT LIABILITIES | 370,785 | 269,358 | 168,430 | ||||||||||||||||||||||||||||||||||||||||||||
CURRENT LIABILITIES | CURRENT LIABILITIES | CURRENT LIABILITIES | ||||||||||||||||||||||||||||||||||||||||||||||||||
Loans and borrowings | Loans and borrowings | 16 | 43,298 | — | — | |||||||||||||||||||||||||||||||||||||||||||||||
Lease liabilities | Lease liabilities | 17 | 14,674 | 11,105 | 11,425 | Lease liabilities | 16 | 12,507 | 13,909 | 14,674 | ||||||||||||||||||||||||||||||||||||||||||
Trade and other payables | Trade and other payables | 19 | 66,881 | 45,460 | 59,770 | Trade and other payables | 18 | 104,815 | 97,109 | 66,881 | ||||||||||||||||||||||||||||||||||||||||||
Provision for rehabilitation | Provision for rehabilitation | 18 | 803 | 1,024 | — | Provision for rehabilitation | 17 | 596 | 600 | 803 | ||||||||||||||||||||||||||||||||||||||||||
Current tax payable | Current tax payable | 38,093 | 19,922 | 4,818 | Current tax payable | — | 9,750 | 38,093 | ||||||||||||||||||||||||||||||||||||||||||||
TOTAL CURRENT LIABILITIES | TOTAL CURRENT LIABILITIES | 120,451 | 77,511 | 76,013 | TOTAL CURRENT LIABILITIES | 161,216 | 121,368 | 120,451 | ||||||||||||||||||||||||||||||||||||||||||||
TOTAL EQUITY AND LIABILITIES | TOTAL EQUITY AND LIABILITIES | 3,523,210 | 3,158,481 | 2,988,463 | TOTAL EQUITY AND LIABILITIES | 2,713,424 | 3,637,691 | 3,523,210 |
Graham Shuttleworth | ||||||||
Director |
Total equity | (Accumulated | Total equity | |||||||||||||||||||||||||||||||||||||||||||||||
attributable | Non- | Deficit)/ | attributable | Non- | |||||||||||||||||||||||||||||||||||||||||||||
US$’000 | US$’000 | Share | Retained | Other | to owners of | controlling | Total | US$’000 | Note | Share | Retained | Other | to owners of | controlling | Total | ||||||||||||||||||||||||||||||||||
capital | premium | earnings | reserves | the parent | interest | equity | capital | premium | earnings | reserves | the parent | interest | equity | ||||||||||||||||||||||||||||||||||||
Balance at 1 January 2018 | 5 | 2,523,612 | 293,821 | (20) | 2,817,418 | 7,420 | 2,824,838 | ||||||||||||||||||||||||||||||||||||||||||
Balance at 1 January 2020 | Balance at 1 January 2020 | 5 | 2,523,612 | 462,972 | (42) | 2,986,547 | 23,579 | 3,010,126 | |||||||||||||||||||||||||||||||||||||||||
Fair value movement on investment in marketable securities | Fair value movement on investment in marketable securities | — | (17) | — | (17) | Fair value movement on investment in marketable securities | — | 6 | — | 6 | |||||||||||||||||||||||||||||||||||||||
Total other comprehensive expense | Total other comprehensive expense | — | — | — | (17) | — | (17) | Total other comprehensive expense | — | — | — | 6 | — | 6 | |||||||||||||||||||||||||||||||||||
Net profit for the year | Net profit for the year | — | 207,750 | — | 207,750 | 4,248 | 211,998 | Net profit for the year | — | 472,533 | — | 472,533 | 32,164 | 504,697 | |||||||||||||||||||||||||||||||||||
Total comprehensive income/(expense) | — | 207,750 | (17) | 207,733 | 4,248 | 211,981 | |||||||||||||||||||||||||||||||||||||||||||
Total comprehensive income | Total comprehensive income | — | 472,533 | 6 | 472,539 | 32,164 | 504,703 | ||||||||||||||||||||||||||||||||||||||||||
Dividend paid (1) | Dividend paid (1) | — | (177,000) | — | (177,000) | — | (177,000) | Dividend paid (1) | — | (280,500) | — | (280,500) | — | (280,500) | |||||||||||||||||||||||||||||||||||
Balance at 31 December 2018 | 5 | 2,523,612 | 324,571 | (37) | 2,848,151 | 11,668 | 2,859,819 | ||||||||||||||||||||||||||||||||||||||||||
Balance at 31 December 2020 | Balance at 31 December 2020 | 5 | 2,523,612 | 655,005 | (36) | 3,178,586 | 55,743 | 3,234,329 | |||||||||||||||||||||||||||||||||||||||||
Balance at 1 January 2019 | 5 | 2,523,612 | 324,571 | (37) | 2,848,151 | 11,668 | 2,859,819 | ||||||||||||||||||||||||||||||||||||||||||
Fair value movement on investment in marketable securities | — | (5) | — | (5) | |||||||||||||||||||||||||||||||||||||||||||||
Total other comprehensive expense | — | — | — | (5) | — | (5) | |||||||||||||||||||||||||||||||||||||||||||
Net profit for the year | — | 288,401 | — | 288,401 | 11,911 | 300,312 | |||||||||||||||||||||||||||||||||||||||||||
Total comprehensive income/(expense) | — | 288,401 | (5) | 288,396 | 11,911 | 300,307 | |||||||||||||||||||||||||||||||||||||||||||
Dividend paid (1) | — | (150,000) | — | (150,000) | — | (150,000) | |||||||||||||||||||||||||||||||||||||||||||
Balance at 31 December 2019 | 5 | 2,523,612 | 462,972 | (42) | 2,986,547 | 23,579 | 3,010,126 | ||||||||||||||||||||||||||||||||||||||||||
Balance at 1 January 2020 | 5 | 2,523,612 | 462,972 | (42) | 2,986,547 | 23,579 | 3,010,126 | ||||||||||||||||||||||||||||||||||||||||||
Fair value movement on investment in marketable securities | Fair value movement on investment in marketable securities | — | 6 | — | 6 | Fair value movement on investment in marketable securities | — | (2) | — | (2) | |||||||||||||||||||||||||||||||||||||||
Total other comprehensive income | Total other comprehensive income | — | — | — | 6 | 6 | — | 6 | Total other comprehensive income | — | — | — | (2) | — | (2) | ||||||||||||||||||||||||||||||||||
Net profit for the year | Net profit for the year | — | 472,533 | — | 472,533 | 32,164 | 504,697 | Net profit for the year | — | 461,271 | — | 461,271 | 32,367 | 493,638 | |||||||||||||||||||||||||||||||||||
Total comprehensive income | Total comprehensive income | — | 472,533 | 6 | 472,539 | 32,164 | 504,703 | Total comprehensive income | — | 461,271 | (2) | 461,269 | 32,367 | 493,636 | |||||||||||||||||||||||||||||||||||
Dividend paid (1) | Dividend paid (1) | — | (280,500) | — | (280,500) | — | (280,500) | Dividend paid (1) | — | (461,000) | — | (461,000) | (20,000) | (481,000) | |||||||||||||||||||||||||||||||||||
Balance at 31 December 2020 | 5 | 2,523,612 | 655,005 | (36) | 3,178,586 | 55,743 | 3,234,329 | ||||||||||||||||||||||||||||||||||||||||||
Balance at 31 December 2021 | Balance at 31 December 2021 | 5 | 2,523,612 | 655,276 | (38) | 3,178,855 | 68,110 | 3,246,965 | |||||||||||||||||||||||||||||||||||||||||
Fair value movement on investment in marketable securities | Fair value movement on investment in marketable securities | — | (2) | — | (2) | ||||||||||||||||||||||||||||||||||||||||||||
Total other comprehensive expense | Total other comprehensive expense | — | — | — | (2) | — | (2) | ||||||||||||||||||||||||||||||||||||||||||
Reclassification of share premium | Reclassification of share premium | 14 | (400,000) | 400,000 | — | — | |||||||||||||||||||||||||||||||||||||||||||
Net profit for the year | Net profit for the year | — | 306,330 | — | 306,330 | 25,930 | 332,260 | ||||||||||||||||||||||||||||||||||||||||||
Total comprehensive income | Total comprehensive income | — | (400,000) | 706,330 | (2) | 306,328 | 25,930 | 332,258 | |||||||||||||||||||||||||||||||||||||||||
Dividend paid (1) | Dividend paid (1) | — | (1,388,800) | — | (1,388,800) | (9,000) | (1,397,800) | ||||||||||||||||||||||||||||||||||||||||||
Balance at 31 December 2022 | Balance at 31 December 2022 | 5 | 2,123,612 | (27,194) | (40) | 2,096,383 | 85,040 | 2,181,423 |
31 Dec | 31 Dec | 31 Dec | 31 Dec | 31 Dec | 31 Dec | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2020 | 2019 | 2018 | 2022 | 2021 | 2020 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
US$’000 | US$’000 | US$’000 | US$’000 | US$’000 | US$’000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash Flows From Operating Activities | Cash Flows From Operating Activities | Cash Flows From Operating Activities | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash generated by operations | Cash generated by operations | 23 | 956,870 | 615,431 | 473,208 | Cash generated by operations | 22 | 675,900 | 944,244 | 956,870 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Interest received | Interest received | 4,158 | 2,683 | 1,814 | Interest received | 3,783 | 3,327 | 4,158 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Finance cost paid | Finance cost paid | (299) | (715) | (515) | Finance cost paid | (1) | (1) | (299) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends received from equity | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accounted joint venture | 25 | 65 | 156 | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends received from equity accounted joint venture | Dividends received from equity accounted joint venture | — | 495 | 65 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income tax paid | Income tax paid | (32,121) | (6,193) | — | Income tax paid | 8 | (55,815) | (84,575) | (32,121) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Withholding tax paid | Withholding tax paid | (8,100) | (18,000) | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net cash flows generated by operating activities | Net cash flows generated by operating activities | 928,673 | 611,362 | 474,507 | Net cash flows generated by operating activities | 615,767 | 845,490 | 928,673 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash Flows Related to Investing Activities | Cash Flows Related to Investing Activities | Cash Flows Related to Investing Activities | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Additions of property, plant and equipment | Additions of property, plant and equipment | (132,229) | (120,202) | (155,298) | Additions of property, plant and equipment | (199,534) | (168,762) | (132,229) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Drawdowns, interest and capital repayments from equity accounted joint venture | (468) | 1,900 | 4,098 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Drawdowns, interest and capital payments from equity accounted joint venture | Drawdowns, interest and capital payments from equity accounted joint venture | (157) | (37) | (468) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net cash flows used in investing activities | Net cash flows used in investing activities | (132,697) | (118,302) | (151,200) | Net cash flows used in investing activities | (199,691) | (168,799) | (132,697) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash Flows Relating to Financing Activities | Cash Flows Relating to Financing Activities | Cash Flows Relating to Financing Activities | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Payment of dividends | Payment of dividends | (280,500) | (150,000) | (177,000) | Payment of dividends | (1,396,900) | (481,000) | (280,500) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal paid on lease liabilities | (20,753) | (11,110) | (9,579) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash repatriation fees paid | Cash repatriation fees paid | 7 | (44,351) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase in overdraft | Increase in overdraft | 20,341 | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Lease repayments | Lease repayments | (14,350) | (20,530) | (20,753) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest paid on lease liabilities | Interest paid on lease liabilities | (3,182) | (3,153) | (3,359) | Interest paid on lease liabilities | (4,310) | (4,035) | (3,182) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Net cash outflows through financing activities | (304,435) | (164,263) | (189,938) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net cash outflows used in financing activities | Net cash outflows used in financing activities | (1,439,570) | (505,565) | (304,435) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net increase in cash and cash equivalents | Net increase in cash and cash equivalents | 491,541 | 328,797 | 133,369 | Net increase in cash and cash equivalents | (1,023,494) | 171,126 | 491,541 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents at the beginning of the year | Cash and cash equivalents at the beginning of the year | 452,692 | 123,895 | (9,474) | Cash and cash equivalents at the beginning of the year | 1,115,359 | 944,233 | 452,692 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents at the end of the year | Cash and cash equivalents at the end of the year | 944,233 | 452,692 | 123,895 | Cash and cash equivalents at the end of the year | 91,865 | 1,115,359 | 944,233 |
Cash and cash equivalents | 944,233 | 452,692 | 123,931 | |||||||||||||||||||||||
Bank overdrafts | 19 | — | — | (36) | ||||||||||||||||||||||
Cash and cash equivalents | 944,233 | 452,692 | 123,895 |
Effective period commencing on or after | ||||||||
Amendments to Existing Standards | ||||||||
IFRS 3, IAS 16 and IAS37 | Amendments to IFRS | |||||||
IFRS 1, IFRS 9, IFRS 16 and IAS | ||||||||
Effective period commencing on or after | ||||||||
IFRS 17 | Insurance contracts including amendments to IFRS 17 | 01-Jan-23 | ||||||
IAS 1 | Amendments to IAS 1: Classification of Liabilities as Current or Non-current | 01-Jan-23 | ||||||
Amendments to | 01-Jan-23 | |||||||
IAS | Amendments to IAS 1 and IFRS Practice Statement 2 - Disclosure of Accounting policies | 01-Jan-23 | ||||||
Amendments to IAS 12 - Deferred Tax related to Assets and Liabilities arising from a Single Transaction | 01-Jan-23 | |||||||
IFRS | ||||||||
Amendment to IFRS |
31 December 2018 As originally Presented $’000 | IFRS 16 adjustment $’000 | 1 January 2019 $’000 | ||||||||||||
Assets | ||||||||||||||
Right-of-use assets (PP&E at 31.12.18) | 4,817 | 15,949 | 20,766 | |||||||||||
Liabilities | ||||||||||||||
Lease liabilities (finance lease liability at 31.12.18) | 38,890 | 15,949 | 54,839 |
31 Dec 2020 US$’000 | 31 Dec 2019 US$’000 | 31 Dec 2018 US$’000 | ||||||||||||
Primary geographic market | ||||||||||||||
Democratic Republic of Congo | 1,440,328 | 1,122,940 | 1,041,035 | |||||||||||
1,440,328 | 1,122,940 | 1,041,035 | ||||||||||||
Product type | ||||||||||||||
Gold doré | 1,437,297 | 1,120,743 | 1,041,035 | |||||||||||
Silver 3 | 3,031 | 2,197 | — | |||||||||||
1,440,328 | 1,122,940 | 1,041,035 | ||||||||||||
Timing of transfer of goods | ||||||||||||||
Point in time | 1,440,328 | 1,122,940 | 1,041,035 | |||||||||||
1,440,328 | 1,122,940 | 1,041,035 |
31 Dec 2022 US$’000 | 31 Dec 2021 US$’000 | 31 Dec 2020 US$’000 | ||||||||||||
Primary geographic market | ||||||||||||||
Democratic Republic of Congo | 1,328,306 | 1,469,221 | 1,440,328 | |||||||||||
1,328,306 | 1,469,221 | 1,440,328 | ||||||||||||
Product type | ||||||||||||||
Gold doré | 1,325,380 | 1,465,793 | 1,437,297 | |||||||||||
Silver | 2,926 | 3,428 | 3,031 | |||||||||||
1,328,306 | 1,469,221 | 1,440,328 | ||||||||||||
Timing of transfer of goods | ||||||||||||||
Point in time | 1,328,306 | 1,469,221 | 1,440,328 | |||||||||||
1,328,306 | 1,469,221 | 1,440,328 |
31 Dec 2020 | 31 Dec 2019 | 31 Dec 2018 | |||||||||||||||||||||
US$’000 | US$’000 | US$’000 | |||||||||||||||||||||
Other Income: | |||||||||||||||||||||||
Other income | 169 | 170 | 174 | ||||||||||||||||||||
Net foreign exchange gains | 2,035 | — | 56,664 | ||||||||||||||||||||
2,204 | 170 | 56,838 | |||||||||||||||||||||
31 Dec 2022 | 31 Dec 2021 | 31 Dec 2020 | |||||||||||||||||||||
US$’000 | US$’000 | US$’000 | |||||||||||||||||||||
Other Income: | |||||||||||||||||||||||
Other income | — | 147 | 169 | ||||||||||||||||||||
Net foreign exchange gains | 82 | 741 | 2,035 | ||||||||||||||||||||
Dividend Received | 457 | 320 | — | ||||||||||||||||||||
539 | 1,208 | 2,204 | |||||||||||||||||||||
31 Dec 2020 | 31 Dec 2019 | 31 Dec 2018 | Note | 31 Dec 2022 | 31 Dec 2021 | 31 Dec 2020 | ||||||||||||||||||||||||||||||||||||||||
US$’000 | US$’000 | US$’000 | US$’000 | US$’000 | US$’000 | |||||||||||||||||||||||||||||||||||||||||
Other Expenses: | Other Expenses: | Other Expenses: | ||||||||||||||||||||||||||||||||||||||||||||
Management Fee | Management Fee | 4,667 | 4,563 | 4,478 | Management Fee | 25 | 7,036 | 6,216 | 4,667 | |||||||||||||||||||||||||||||||||||||
COVID-19 specific costs | COVID-19 specific costs | 18,608 | — | — | COVID-19 specific costs | 1,030 | 35 | 18,608 | ||||||||||||||||||||||||||||||||||||||
Net foreign exchange loss | — | 1,458 | 2,917 | |||||||||||||||||||||||||||||||||||||||||||
Other expenses | Other expenses | 38,762 | 18,644 | — | ||||||||||||||||||||||||||||||||||||||||||
Provision for impairment against TVA receivable and related expenses | Provision for impairment against TVA receivable and related expenses | 14,202 | — | 37,893 | Provision for impairment against TVA receivable and related expenses | 5,950 | 8,351 | 14,202 | ||||||||||||||||||||||||||||||||||||||
37,477 | 6,021 | 45,288 | 52,778 | 33,246 | 37,477 |
31 Dec | 31 Dec | 31 Dec | |||||||||||||||||||||
2022 | 2021 | 2020 | |||||||||||||||||||||
US$’000 | US$’000 | US$’000 | |||||||||||||||||||||
Mining and processing costs comprise: | |||||||||||||||||||||||
Mine production costs | 316,880 | 264,556 | 249,395 | ||||||||||||||||||||
Movement in production inventory and ore stockpiles | (11,871) | (15,340) | 2,924 | ||||||||||||||||||||
Depreciation and amortisation | 207,813 | 243,958 | 241,311 | ||||||||||||||||||||
Other mining and processing costs | 161,197 | 194,912 | 176,508 | ||||||||||||||||||||
674,019 | 688,086 | 670,138 |
31 Dec 2020 | 31 Dec 2019 | 31 Dec 2018 | |||||||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||||||||
US$’000 | US$’000 | US$’000 | |||||||||||||||||||||
Mining and processing costs comprise: | |||||||||||||||||||||||
Mine production costs | 249,395 | 263,608 | 264,122 | ||||||||||||||||||||
Movement in production inventory and ore stockpiles | 2,924 | (32,953) | (12,154) | ||||||||||||||||||||
Depreciation and amortisation | 241,311 | 282,180 | 329,519 | ||||||||||||||||||||
Other mining and processing costs | 176,508 | 175,961 | 190,772 | ||||||||||||||||||||
670,138 | 688,796 | 772,259 |
31 Dec 2013 | 31 Dec 2012 | 31 Dec 2011 | |||||||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||||||||
US$’000 | US$’000 | US$’000 | |||||||||||||||||||||
Exploration and corporate expenditure comprises: | |||||||||||||||||||||||
Exploration expenditure | 4,295 | 7,123 | 3,213 | ||||||||||||||||||||
Corporate expenditure | 1,979 | 6,563 | 2,941 | ||||||||||||||||||||
6,274 | 13,686 | 6,154 | |||||||||||||||||||||
31 Dec 2013 | 31 Dec 2012 | 31 Dec 2011 | |||||||||||||||||||||
2022 | 2021 | 2020 | |||||||||||||||||||||
US$’000 | US$’000 | US$’000 | |||||||||||||||||||||
Exploration and corporate expenditure comprise: | |||||||||||||||||||||||
Exploration expenditure | 3,452 | 4,214 | 4,295 | ||||||||||||||||||||
Corporate expenditure | 3,343 | 1,634 | 1,979 | ||||||||||||||||||||
6,795 | 5,848 | 6,274 | |||||||||||||||||||||
31 Dec 2012 | 31 Dec 2012 | 31 Dec 2011 | 31 Dec 2012 | 31 Dec 2012 | 31 Dec 2011 | |||||||||||||||||||||||||||||||||||||||||
2020 | 2019 | 2018 | 2022 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||||||
US$’000 | US$’000 | US$’000 | US$’000 | US$’000 | US$’000 | |||||||||||||||||||||||||||||||||||||||||
Finance income comprise: | Finance income comprise: | Finance income comprise: | ||||||||||||||||||||||||||||||||||||||||||||
Interest received – loans and receivables | Interest received – loans and receivables | 3,513 | 3,277 | 2,664 | ||||||||||||||||||||||||||||||||||||||||||
Bank interest | Bank interest | 2,664 | 1,389 | 20 | Bank interest | 1,674 | 2,341 | 4,248 | ||||||||||||||||||||||||||||||||||||||
Interest received – loans and receivables | 4,248 | 2,981 | 3,360 | |||||||||||||||||||||||||||||||||||||||||||
Total finance income | Total finance income | 6,912 | 4,370 | 3,380 | Total finance income | 5,187 | 5,618 | 6,912 | ||||||||||||||||||||||||||||||||||||||
Finance costs comprise: | Finance costs comprise: | Finance costs comprise: | ||||||||||||||||||||||||||||||||||||||||||||
Interest expense on finance lease | Interest expense on finance lease | (4,869) | (3,153) | (3,359) | Interest expense on finance lease | (4,830) | (5,428) | (4,869) | ||||||||||||||||||||||||||||||||||||||
Interest paid on overdrafts | Interest paid on overdrafts | (1,215) | (289) | (515) | Interest paid on overdrafts | — | — | (1,215) | ||||||||||||||||||||||||||||||||||||||
Unwinding of discount on provisions for Rehabilitation | Unwinding of discount on provisions for Rehabilitation | (376) | (531) | (591) | Unwinding of discount on provisions for Rehabilitation | (735) | (485) | (376) | ||||||||||||||||||||||||||||||||||||||
Cash repatriation fee | Cash repatriation fee | (44,352) | — | — | ||||||||||||||||||||||||||||||||||||||||||
Total finance costs | Total finance costs | (6,460) | (3,973) | (4,465) | Total finance costs | (49,917) | (5,913) | (6,460) | ||||||||||||||||||||||||||||||||||||||
Net finance income/(costs) | 452 | 397 | (1,085) | |||||||||||||||||||||||||||||||||||||||||||
Net finance (costs)/income | Net finance (costs)/income | (44,730) | (295) | 452 |
31 Dec | 31 Dec | 31 Dec | |||||||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||||||||
US$’000 | US$’000 | US$’000 | |||||||||||||||||||||
Current taxation | 57,834 | 44,316 | — | ||||||||||||||||||||
Deferred taxation | 12 | 99,256 | 17,618 | 15,972 | |||||||||||||||||||
157,090 | 61,934 | 15,972 | |||||||||||||||||||||
31 Dec | 31 Dec | 31 Dec | |||||||||||||||||||||
2022 | 2021 | 2020 | |||||||||||||||||||||
US$’000 | US$’000 | US$’000 | |||||||||||||||||||||
Current taxation | 47,993 | 55,671 | 57,834 | ||||||||||||||||||||
Deferred taxation | 11 | 99,853 | 107,044 | 99,256 | |||||||||||||||||||
Withholding tax | 8,100 | 18,000 | — | ||||||||||||||||||||
155,946 | 180,715 | 157,090 | |||||||||||||||||||||
31 Dec | 31 Dec | 31 Dec | 31 Dec | 31 Dec | 31 Dec | |||||||||||||||||||||||||||||||||||||||||
2020 | 2019 | 2018 | 2022 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||||||
US$’000 | US$’000 | US$’000 | US$’000 | US$’000 | US$’000 | |||||||||||||||||||||||||||||||||||||||||
Profit before tax | Profit before tax | 661,787 | 362,246 | 227,970 | Profit before tax | 488,208 | 674,353 | 661,787 | ||||||||||||||||||||||||||||||||||||||
Tax calculated at the DRC effective tax rate of 30% | 198,537 | 108,674 | 68,391 | |||||||||||||||||||||||||||||||||||||||||||
Tax calculated at the DRC standard tax rate of 30% | Tax calculated at the DRC standard tax rate of 30% | 146,462 | 202,306 | 198,537 | ||||||||||||||||||||||||||||||||||||||||||
Withholding tax | Withholding tax | 8,100 | 18,000 | |||||||||||||||||||||||||||||||||||||||||||
Reconciling items: | Reconciling items: | Reconciling items: | ||||||||||||||||||||||||||||||||||||||||||||
Exempt income | Exempt income | (54,694) | (54,359) | (50,569) | Exempt income | (24,070) | (56,141) | (54,694) | ||||||||||||||||||||||||||||||||||||||
Other differences | 13,247 | 7,619 | (1,850) | |||||||||||||||||||||||||||||||||||||||||||
Non-deductible costs | Non-deductible costs | 25,454 | 16,550 | 13,247 | ||||||||||||||||||||||||||||||||||||||||||
Taxation charges | Taxation charges | 157,090 | 61,934 | 15,972 | Taxation charges | 155,946 | 180,715 | 157,090 |
31 Dec | 31 Dec | 31 Dec | |||||||||||||||||||||
2022 | 2021 | 2020 | |||||||||||||||||||||
US$’000 | US$’000 | US$’000 | |||||||||||||||||||||
Mine properties, mine development costs and mine plant facilities and equipment | |||||||||||||||||||||||
Cost | |||||||||||||||||||||||
Balance at the beginning of the year | 3,118,076 | 3,161,305 | 3,004,474 | ||||||||||||||||||||
Additions | 214,765 | 177,331 | 156,831 | ||||||||||||||||||||
Disposals * | — | (220,560) | — | ||||||||||||||||||||
Balance at the end of the year | 3,332,841 | 3,118,076 | 3,161,305 | ||||||||||||||||||||
Accumulated depreciation | |||||||||||||||||||||||
Balance at the beginning of the year | (1,306,785) | (1,314,559) | (1,111,627) | ||||||||||||||||||||
Depreciation charged for the year | (181,072) | (212,786) | (202,932) | ||||||||||||||||||||
Disposals * | — | 220,560 | |||||||||||||||||||||
Balance at the end of the year | (1,487,857) | (1,306,785) | (1,314,559) | ||||||||||||||||||||
Net book value | 1,844,984 | 1,811,291 | 1,846,746 | ||||||||||||||||||||
31 Dec | 31 Dec | 31 Dec | |||||||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||||||||
US$’000 | US$’000 | US$’000 | |||||||||||||||||||||
Mine properties, mine development costs and mine plant facilities and equipment | |||||||||||||||||||||||
Cost | |||||||||||||||||||||||
Balance at the beginning of the year | 3,004,474 | 2,868,026 | 2,722,330 | ||||||||||||||||||||
Additions | 156,831 | 136,448 | 145,696 | ||||||||||||||||||||
Balance at the end of the year | 3,161,305 | 3,004,474 | 2,868,026 | ||||||||||||||||||||
Accumulated depreciation | |||||||||||||||||||||||
Balance at the beginning of the year | (1,111,627) | (879,493) | (614,612) | ||||||||||||||||||||
Depreciation charged for the year | (202,932) | (232,134) | (264,881) | ||||||||||||||||||||
Balance at the end of the year | (1,314,559) | (1,111,627) | (879,493) | ||||||||||||||||||||
Net book value | 1,846,746 | 1,892,847 | 1,988,533 | ||||||||||||||||||||
31 Dec | 31 Dec | 31 Dec | |||||||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||||||||
US$’000 | US$’000 | US$’000 | |||||||||||||||||||||
Finance lease asset | — | — | 4,817 | ||||||||||||||||||||
ROU Assets | 46,175 | 26,503 | — | ||||||||||||||||||||
46,175 | 26,503 | 4,817 | |||||||||||||||||||||
31 Dec | 31 Dec | 31 Dec | |||||||||||||||||||||
2022 | 2021 | 2020 | |||||||||||||||||||||
US$’000 | US$’000 | US$’000 | |||||||||||||||||||||
ROU Assets | 52,076 | 45,449 | 46,175 | ||||||||||||||||||||
52,076 | 45,449 | 46,175 | |||||||||||||||||||||
31 Dec | 31 Dec | 31 Dec | |||||||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||||||||
US$’000 | US$’000 | US$’000 | |||||||||||||||||||||
Cost | |||||||||||||||||||||||
At the beginning and end of the year | 745,092 | 745,092 | 745,092 | ||||||||||||||||||||
Amortisation | |||||||||||||||||||||||
At the beginning of the year | (340,660) | (290,613) | (225,975) | ||||||||||||||||||||
Charge for the year | (38,379) | (50,047) | (64,638) | ||||||||||||||||||||
At the end of the year | (379,039) | (340,660) | (290,613) | ||||||||||||||||||||
Net book value | 366,053 | 404,432 | 454,479 | ||||||||||||||||||||
31 Dec | 31 Dec | 31 Dec | |||||||||||||||||||||
2022 | 2021 | 2020 | |||||||||||||||||||||
US$’000 | US$’000 | US$’000 | |||||||||||||||||||||
Cost | |||||||||||||||||||||||
At the beginning and end of the year | 745,092 | 745,092 | 745,092 | ||||||||||||||||||||
Amortisation | |||||||||||||||||||||||
At the beginning of the year | (410,211) | (379,039) | (340,660) | ||||||||||||||||||||
Charge for the year | (26,740) | (31,172) | (38,379) | ||||||||||||||||||||
At the end of the year | (436,951) | (410,211) | (379,039) | ||||||||||||||||||||
Net book value | 308,141 | 334,881 | 366,053 | ||||||||||||||||||||
31 Dec | 31 Dec | 31 Dec | ||||||||||||||||||||||||
2022 | 2021 | 2020 | ||||||||||||||||||||||||
US$’000 | US$’000 | US$’000 | ||||||||||||||||||||||||
Deferred taxation is calculated on temporary differences under the liability method using a tax rate of 30% in respect of the DRC operations. | ||||||||||||||||||||||||||
The movement on deferred taxation is as follows: | ||||||||||||||||||||||||||
At the beginning of the year | (196,654) | (89,610) | 9,647 | |||||||||||||||||||||||
Statement of comprehensive income charge (Refer to note 8) | (99,853) | (107,044) | (99,256) | |||||||||||||||||||||||
At the end of the year | (296,507) | (196,654) | (89,609) | |||||||||||||||||||||||
Deferred taxation comprise the following: | ||||||||||||||||||||||||||
Tax losses | 166,762 | 285,632 | 355,742 | |||||||||||||||||||||||
Accelerated capital allowances | (463,269) | (482,286) | (445,351) | |||||||||||||||||||||||
Net deferred tax liability | (296,507) | (196,654) | (89,609) |
31 Dec | 31 Dec | 31 Dec | ||||||||||||||||||||||||
2020 | 2019 | 2018 | ||||||||||||||||||||||||
US$’000 | US$’000 | US$’000 | ||||||||||||||||||||||||
Deferred taxation is calculated on temporary differences under the liability method using a tax rate of 30% in respect of the DRC operations. | ||||||||||||||||||||||||||
The movement on deferred taxation is as follows: | ||||||||||||||||||||||||||
At the beginning of the year | 9,647 | 27,265 | 43,237 | |||||||||||||||||||||||
Statement of comprehensive (charge)/credit | (99,256) | (17,618) | (15,972) | |||||||||||||||||||||||
At the end of the year | (89,609) | 9,647 | 27,265 | |||||||||||||||||||||||
Deferred taxation comprise the following: | ||||||||||||||||||||||||||
Tax losses carried forward attributable to accelerated capital allowances | 355,742 | 450,408 | 477,104 | |||||||||||||||||||||||
Accelerated capital allowances | (445,351) | (440,761) | (449,839) | |||||||||||||||||||||||
Net deferred taxation (liability) / asset | (89,609) | 9,647 | 27,265 |
31 Dec | 31 Dec | 31 Dec | |||||||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||||||||
US$’000 | US$’000 | US$’000 | |||||||||||||||||||||
Advances to contractors | 608 | 1,963 | 3,288 | ||||||||||||||||||||
Trade receivables | 1,202 | 26,580 | 11,114 | ||||||||||||||||||||
Prepayments and other receivables | 26,940 | 28,239 | 33,371 | ||||||||||||||||||||
Loan to SOKIMO (refer note 26) | 23,933 | 22,090 | 20,393 | ||||||||||||||||||||
Other receivables | 9,110 | 3,337 | 2,150 | ||||||||||||||||||||
TVA receivables | 153,674 | 147,825 | 180,518 | ||||||||||||||||||||
215,467 | 230,034 | 250,834 | |||||||||||||||||||||
Less: Non-current portion | |||||||||||||||||||||||
Loan to SOKIMO | 23,933 | 22,090 | 20,393 | ||||||||||||||||||||
Drilling down payment | 8,161 | — | — | ||||||||||||||||||||
Other loans and receivables (including TVA receivables) | 153,674 | 118,897 | 117,459 | ||||||||||||||||||||
185,768 | 140,987 | 137,852 | |||||||||||||||||||||
Current portion | 29,699 | 89,047 | 112,982 |
31 Dec | 31 Dec | 31 Dec | |||||||||||||||||||||
2022 | 2021 | 2020 | |||||||||||||||||||||
US$’000 | US$’000 | US$’000 | |||||||||||||||||||||
Advances to contractors | — | 225 | 608 | ||||||||||||||||||||
Trade receivables (refer to note 25) | 60,692 | 22,805 | 1,202 | ||||||||||||||||||||
Prepayments and other receivables | 65,892 | 34,302 | 36,050 | ||||||||||||||||||||
Loan to SOKIMO (refer note 25) | 28,010 | 25,897 | 23,933 | ||||||||||||||||||||
TVA receivable | 191,191 | 163,193 | 153,674 | ||||||||||||||||||||
345,785 | 246,422 | 215,467 | |||||||||||||||||||||
Less: Non-current portion | |||||||||||||||||||||||
Loan to SOKIMO (refer to note 25) | 28,010 | 25,897 | 23,933 | ||||||||||||||||||||
Drilling down payment | 1,644 | 3,417 | 8,161 | ||||||||||||||||||||
TVA Receivable | 191,191 | 163,193 | 153,674 | ||||||||||||||||||||
220,845 | 192,507 | 185,768 | |||||||||||||||||||||
Current portion | 124,940 | 53,915 | 29,699 |
31 Dec | 31 Dec | 31 Dec | 31 Dec | 31 Dec | 31 Dec | |||||||||||||||||||||||||||||||||||||||||
2020 | 2019 | 2018 | 2022 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||||||
US$’000 | US$’000 | US$’000 | US$’000 | US$’000 | US$’000 | |||||||||||||||||||||||||||||||||||||||||
Gold on hand | Gold on hand | 6,878 | 13,086 | 4,425 | Gold on hand | 11,409 | 4,244 | 6,878 | ||||||||||||||||||||||||||||||||||||||
Consumables stores | Consumables stores | 72,544 | 64,201 | 66,099 | Consumables stores | 55,376 | 82,417 | 72,544 | ||||||||||||||||||||||||||||||||||||||
Ore stockpiles | Ore stockpiles | 40,620 | 62,642 | 44,116 | Ore stockpiles | 26,678 | 15,744 | 40,620 | ||||||||||||||||||||||||||||||||||||||
Gold in process | Gold in process | 7,320 | 7,759 | 6,906 | Gold in process | 2,618 | 5,546 | 7,320 | ||||||||||||||||||||||||||||||||||||||
127,362 | 147,688 | 121,546 | 96,081 | 107,951 | 127,362 | |||||||||||||||||||||||||||||||||||||||||
Less: Non-current portion | Less: Non-current portion | Less: Non-current portion | ||||||||||||||||||||||||||||||||||||||||||||
Ore stockpiles | Ore stockpiles | 36,875 | 52,685 | 28,510 | Ore stockpiles | 20,160 | — | 36,875 | ||||||||||||||||||||||||||||||||||||||
Current portion | Current portion | 90,487 | 95,003 | 93,036 | Current portion | 75,921 | 107,951 | 90,487 |
31 Dec | 31 Dec | 31 Dec | ||||||||||||||||||
2022 | 2021 | 2020 | ||||||||||||||||||
US$’000 | US$’000 | US$’000 | ||||||||||||||||||
Movement in the number of ordinary shares outstanding: | ||||||||||||||||||||
Balance at 1 January | 5 | 5 | 5 | |||||||||||||||||
Shares issued | — | — | — | |||||||||||||||||
Balance at 31 December | 5 | 5 | 5 | |||||||||||||||||
Movement in share premium: | ||||||||||||||||||||
Balance at 1 January | 2,523,612 | 2,523,612 | 2,523,612 | |||||||||||||||||
Reclassification | (400,000) | — | — | |||||||||||||||||
Balance at 31 December | 2,123,612 | 2,523,612 | 2,523,612 |
31 Dec | 31 Dec | 31 Dec | ||||||||||||||||||
2020 | 2019 | 2018 | ||||||||||||||||||
US$’000 | US$’000 | US$’000 | ||||||||||||||||||
Movement in the number of ordinary shares outstanding: | ||||||||||||||||||||
Balance at 1 January | 5 | 5 | 5 | |||||||||||||||||
Shares issued | — | — | — | |||||||||||||||||
Balance at 31 December | 5 | 5 | 5 | |||||||||||||||||
Movement in share premium: | ||||||||||||||||||||
Balance at 1 January | 2,523,612 | 2,523,612 | 2,523,612 | |||||||||||||||||
Shares issued | — | — | — | |||||||||||||||||
Balance at 31 December | 2,523,612 | 2,523,612 | 2,523,612 |
31 Dec | 31 Dec | 31 Dec | 31 Dec | 31 Dec | 31 Dec | |||||||||||||||||||||||||||||||||||
2020 | 2019 | 2018 | 2022 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||
US$’000 | US$’000 | US$’000 | US$’000 | US$’000 | US$’000 | |||||||||||||||||||||||||||||||||||
Balance at 1 January | Balance at 1 January | 23,579 | 11,668 | 7,420 | Balance at 1 January | 68,110 | 55,743 | 23,579 | ||||||||||||||||||||||||||||||||
Non-controlling interest in results of Kibali Goldmines SA | Non-controlling interest in results of Kibali Goldmines SA | 32,164 | 11,911 | 4,248 | Non-controlling interest in results of Kibali Goldmines SA | 25,930 | 32,367 | 32,164 | ||||||||||||||||||||||||||||||||
Dividend paid | Dividend paid | (9,000) | (20,000) | — | ||||||||||||||||||||||||||||||||||||
Balance at 31 December | Balance at 31 December | 55,743 | 23,579 | 11,668 | Balance at 31 December | 85,040 | 68,110 | 55,743 |
31 Dec | 31 Dec | 31 Dec | ||||||||||||||||||
2020 | 2019 | 2018 | ||||||||||||||||||
US$’000 | US$’000 | US$’000 | ||||||||||||||||||
Non-current | ||||||||||||||||||||
Lease liabilities | 50,457 | 43,821 | 27,465 | |||||||||||||||||
Loan from the Group (refer to note 26) | — | 1,507 | 1,526 | |||||||||||||||||
50,457 | 45,328 | 28,991 | ||||||||||||||||||
Current | ||||||||||||||||||||
Lease liabilities | 14,674 | 11,105 | 11,425 | |||||||||||||||||
14,674 | 11,105 | 11,425 | ||||||||||||||||||
Total loans and borrowings | 65,131 | 56,433 | 40,416 |
31 Dec | 31 Dec | 31 Dec | ||||||||||||||||||
2022 | 2021 | 2020 | ||||||||||||||||||
US$’000 | US$’000 | US$’000 | ||||||||||||||||||
Non-current | ||||||||||||||||||||
Lease liabilities | 51,045 | 41,839 | 50,457 | |||||||||||||||||
51,045 | 41,839 | 50,457 | ||||||||||||||||||
Current | ||||||||||||||||||||
Lease liabilities | 12,507 | 13,909 | 14,674 | |||||||||||||||||
Loan from the Group (refer to note 25) | 21,301 | 1,839 | — | |||||||||||||||||
Bank account in overdraft | 21,997 | 1,656 | — | |||||||||||||||||
Total loans and borrowings | 106,850 | 59,243 | 65,131 |
31 Dec | 31 Dec | 31 Dec | 31 Dec | 31 Dec | 31 Dec | |||||||||||||||||||||||||||||||||||
2020 | 2019 | 2018 | 2022 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||
US$’000 | US$’000 | US$’000 | US$’000 | US$’000 | US$’000 | |||||||||||||||||||||||||||||||||||
Balance at 1 January | Balance at 1 January | 25,516 | 23,640 | 23,244 | Balance at 1 January | 29,626 | 29,167 | 25,516 | ||||||||||||||||||||||||||||||||
Unwinding of discount | Unwinding of discount | 376 | 531 | 591 | Unwinding of discount | 735 | 485 | 376 | ||||||||||||||||||||||||||||||||
Change in estimates | Change in estimates | 3,275 | 2,369 | (195) | Change in estimates | (6,532) | (26) | 3,275 | ||||||||||||||||||||||||||||||||
Total rehabilitation | Total rehabilitation | 29,167 | 26,540 | 23,640 | Total rehabilitation | 23,829 | 29,626 | 29,167 | ||||||||||||||||||||||||||||||||
Current rehabilitation liability | Current rehabilitation liability | (803) | (1,024) | — | Current rehabilitation liability | 596 | 600 | 803 | ||||||||||||||||||||||||||||||||
Balance at 31 December C | 28,364 | 25,516 | 23,640 | |||||||||||||||||||||||||||||||||||||
Non-Current Liability | Non-Current Liability | 23,233 | 29,026 | 28,364 |
31 Dec | 31 Dec | 31 Dec | 31 Dec | 31 Dec | 31 Dec | |||||||||||||||||||||||||||||||||||
2020 | 2019 | 2018 | 2022 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||
US$’000 | US$’000 | US$’000 | US$’000 | US$’000 | US$’000 | |||||||||||||||||||||||||||||||||||
Trade payables | Trade payables | 19,984 | 20,346 | 29,367 | Trade payables | 34,452 | 30,764 | 19,984 | ||||||||||||||||||||||||||||||||
Payroll and other compensations | Payroll and other compensations | 8,839 | 6,146 | 3,171 | Payroll and other compensations | 8,871 | 7,711 | 8,839 | ||||||||||||||||||||||||||||||||
Bank account in overdraft | — | — | 36 | |||||||||||||||||||||||||||||||||||||
Accruals and other payables | Accruals and other payables | 38,058 | 18,968 | 27,196 | Accruals and other payables | 61,492 | 58,634 | 38,058 | ||||||||||||||||||||||||||||||||
66,881 | 45,460 | 59,770 | 104,815 | 97,109 | 66,881 |
Description | 31 Dec 2020 US$’000 | 31 Dec 2019 US$’000 | ||||||||||||
Carrying amount – beginning of the year | 26,503 | 20,766 | ||||||||||||
Additions | 28,389 | 10,994 | ||||||||||||
Depreciation | (8,717) | (5,257) | ||||||||||||
Carrying value – end of year | 46,175 | 26,503 |
Description | 31 Dec 2022 US$’000 | 31 Dec 2021 US$’000 | 31 Dec 2020 US$’000 | ||||||||||||||
Carrying amount – beginning of the year | 45,449 | 46,175 | 26,503 | ||||||||||||||
Additions | 21,757 | 6,519 | 28,389 | ||||||||||||||
Impact of modifications | — | 3,235 | — | ||||||||||||||
Depreciation | (23,510) | (10,480) | (8,717) | ||||||||||||||
Carrying value – end of year | 43,696 | 45,449 | 46,175 |
Description | 31 Dec 2020 US$’000 | 31 Dec 2019 US$’000 | ||||||||||||
As at 1 January | 54,926 | 54,839 | ||||||||||||
Additions | 28,389 | 10,994 | ||||||||||||
Interest expense | 4,869 | 3,153 | ||||||||||||
Lease payments | (23,935) | (14,263) | ||||||||||||
Foreign exchange movements | 882 | 203 | ||||||||||||
As at 31 December | 65,131 | 54,926 |
Description | 31 Dec 2022 US$’000 | 31 Dec 2021 US$’000 | 31 Dec 2020 US$’000 | ||||||||||||||
As at 1 January | 55,748 | 65,131 | 54,926 | ||||||||||||||
Additions | 21,757 | 6,519 | 28,389 | ||||||||||||||
Impact of modifications | — | 3,235 | — | ||||||||||||||
Interest expense | 4,830 | 5,428 | 4,869 | ||||||||||||||
Lease payments | (18,660) | (24,565) | (23,935) | ||||||||||||||
Foreign exchange movements | (123) | — | 882 | ||||||||||||||
As at 31 December | 63,552 | 55,748 | 65,131 |
Country of operation | Country of operation | DRC | Jersey | Country of operation | DRC | Jersey | ||||||||||||||||||||||||||||||||||||||||
US$’000 | US$’000 | Kibali Goldmines SA | Corporate | Intercompany eliminations and consolidation entries | Total | US$’000 | Kibali Goldmines SA | Corporate | Intercompany eliminations and consolidation entries | Total | ||||||||||||||||||||||||||||||||||||
Year ended 31 December 2020 | ||||||||||||||||||||||||||||||||||||||||||||||
Year ended 31 December 2022 | Year ended 31 December 2022 | |||||||||||||||||||||||||||||||||||||||||||||
Profit and loss | Profit and loss | Profit and loss | ||||||||||||||||||||||||||||||||||||||||||||
Total revenue | Total revenue | 1,440,328 | — | — | 1,440,328 | Total revenue | 1,328,306 | — | — | 1,328,306 | ||||||||||||||||||||||||||||||||||||
Mining and processing costs excluding depreciation | (429,949) | — | 1,122 | (428,827) | ||||||||||||||||||||||||||||||||||||||||||
Mining and processing costs excluding Depreciation | Mining and processing costs excluding Depreciation | (468,327) | — | 2,121 | (466,206) | |||||||||||||||||||||||||||||||||||||||||
Depreciation and amortisation | Depreciation and amortisation | (232,804) | (2,017) | (6,490) | (241,311) | Depreciation and amortisation | (185,019) | (427) | (22,367) | (207,813) | ||||||||||||||||||||||||||||||||||||
Mining and processing costs | Mining and processing costs | (662,753) | (2,017) | (5,368) | (670,138) | Mining and processing costs | (653,346) | (427) | (20,246) | (674,019) | ||||||||||||||||||||||||||||||||||||
Royalties | Royalties | (67,547) | — | — | (67,547) | Royalties | (62,472) | — | — | (62,472) | ||||||||||||||||||||||||||||||||||||
Exploration and corporate expenditure | Exploration and corporate expenditure | (6,173) | (101) | — | (6,274) | Exploration and corporate expenditure | (3,452) | (3,343) | — | (6,795) | ||||||||||||||||||||||||||||||||||||
Other income/(expenses) and JV profit | (34,322) | 409 | (1,121) | (35,034) | ||||||||||||||||||||||||||||||||||||||||||
Other (expenses)/income and JV profit | Other (expenses)/income and JV profit | (56,903) | 4,821 | — | (52,082) | |||||||||||||||||||||||||||||||||||||||||
Finance costs | Finance costs | (195,192) | — | 188,732 | (6,460) | Finance costs | (152,079) | (35,073) | 137,236 | (49,916) | ||||||||||||||||||||||||||||||||||||
Finance income | Finance income | 4,389 | 12,785 | (10,262) | 6,912 | Finance income | 3,700 | 12,664 | (11,178) | 5,186 | ||||||||||||||||||||||||||||||||||||
Profit before income tax | Profit before income tax | 478,730 | 11,076 | 171,981 | 661,787 | Profit before income tax | 403,754 | (21,358) | 105,812 | 488,208 | ||||||||||||||||||||||||||||||||||||
Income tax expense | Income tax expense | (157,090) | — | — | (157,090) | Income tax expense | (147,846) | (8,100) | — | (155,946) | ||||||||||||||||||||||||||||||||||||
Net profit for the year | Net profit for the year | 321,640 | 11,076 | 171,981 | 504,697 | Net profit for the year | 255,908 | (29,458) | 105,812 | 332,262 | ||||||||||||||||||||||||||||||||||||
Capital expenditure | Capital expenditure | 156,831 | — | — | 156,831 | Capital expenditure | 214,765 | — | — | 214,765 | ||||||||||||||||||||||||||||||||||||
Total assets | Total assets | 3,762,098 | 10,862,319 | (11,101,207) | 3,523,210 | Total assets | 2,685,504 | 2,171,491 | (2,143,571) | 2,713,424 | ||||||||||||||||||||||||||||||||||||
Total liabilities | Total liabilities | (3,403,586) | (7,093,329) | 10,208,034 | (288,881) | Total liabilities | (1,708,355) | (289) | 1,176,642 | (532,002) | ||||||||||||||||||||||||||||||||||||
Year ended 31 December 2019 | ||||||||||||||||||||||||||||||||||||||||||||||
Year ended 31 December 2021 | Year ended 31 December 2021 | |||||||||||||||||||||||||||||||||||||||||||||
Profit and loss | Profit and loss | Profit and loss | ||||||||||||||||||||||||||||||||||||||||||||
Total revenue | Total revenue | 1,122,940 | — | — | 1,122,940 | Total revenue | 1,469,221 | — | — | 1,469,221 | ||||||||||||||||||||||||||||||||||||
Mining and processing costs excluding depreciation | Mining and processing costs excluding depreciation | (408,001) | — | 1,384 | (406,617) | Mining and processing costs excluding depreciation | (446,175) | — | 2,047 | (444,128) | ||||||||||||||||||||||||||||||||||||
Depreciation and amortisation | Depreciation and amortisation | (268,736) | (1,579) | (11,864) | (282,179) | Depreciation and amortisation | (237,215) | (1,911) | (4,832) | (243,958) | ||||||||||||||||||||||||||||||||||||
Mining and processing costs | Mining and processing costs | (676,737) | (1,579) | (10,480) | (688,796) | Mining and processing costs | (683,390) | (1,911) | (2,785) | (688,086) | ||||||||||||||||||||||||||||||||||||
Royalties | Royalties | (52,792) | — | — | (52,792) | Royalties | (68,704) | — | — | (68,704) | ||||||||||||||||||||||||||||||||||||
Exploration and corporate expenditure | Exploration and corporate expenditure | (13,606) | (80) | — | (13,686) | Exploration and corporate expenditure | (4,346) | 545 | (2,047) | (5,848) | ||||||||||||||||||||||||||||||||||||
Other income/(expenses) and JV profit | (4,610) | 177 | (1,384) | (5,817) | ||||||||||||||||||||||||||||||||||||||||||
Other expenses and JV profit | Other expenses and JV profit | (31,831) | (104) | — | (31,935) | |||||||||||||||||||||||||||||||||||||||||
Finance costs | Finance costs | (196,905) | (8) | 192,940 | (3,973) | Finance costs | (198,660) | (1) | 192,748 | (5,913) | ||||||||||||||||||||||||||||||||||||
Finance income | Finance income | 2,759 | 12,789 | (11,178) | 4,370 | Finance income | 4,099 | 12,697 | (11,178) | 5,618 | ||||||||||||||||||||||||||||||||||||
Profit before income tax | Profit before income tax | 181,049 | 11,299 | 169,898 | 362,246 | Profit before income tax | 486,389 | 11,226 | 176,738 | 674,353 | ||||||||||||||||||||||||||||||||||||
Income tax expense | Income tax expense | (61,934) | — | — | (61,934) | Income tax expense | (162,715) | (18,000) | — | (180,715) | ||||||||||||||||||||||||||||||||||||
Net profit for the year | 119,115 | 11,299 | 169,898 | 300,312 | ||||||||||||||||||||||||||||||||||||||||||
Net profit/(loss) for the year | Net profit/(loss) for the year | 323,674 | (6,774) | 176,738 | 493,638 | |||||||||||||||||||||||||||||||||||||||||
Capital expenditure | Capital expenditure | 140,876 | — | — | 140,876 | Capital expenditure | 177,331 | — | — | 177,331 | ||||||||||||||||||||||||||||||||||||
Total assets | Total assets | 3,302,116 | 10,330,673 | (10,474,308) | 3,158,481 | Total assets | 3,586,931 | 3,397,061 | (3,346,301) | 3,637,691 | ||||||||||||||||||||||||||||||||||||
Total liabilities | Total liabilities | (3,265,246) | (6,494,171) | 9,611,062 | (148,355) | Total liabilities | (2,789,133) | (3,336) | 2,401,743 | (390,726) |
21. SEGMENTAL INFORMATION (CONTINUED) | ||||||||||||||||||||||||||||||||||||||||||||||
20. SEGMENTAL INFORMATION (CONTINUED) | 20. SEGMENTAL INFORMATION (CONTINUED) | |||||||||||||||||||||||||||||||||||||||||||||
Country of operation | Country of operation | DRC | Jersey | Country of operation | DRC | Jersey | ||||||||||||||||||||||||||||||||||||||||
US$’000 | US$’000 | Kibali Goldmines SA | Corporate | Intercompany eliminations and consolidation entries | Total | US$’000 | Kibali Goldmines SA | Corporate | Intercompany eliminations and consolidation entries | Total | ||||||||||||||||||||||||||||||||||||
Year ended 31 December 2018 | ||||||||||||||||||||||||||||||||||||||||||||||
Year ended 31 December 2020 | Year ended 31 December 2020 | |||||||||||||||||||||||||||||||||||||||||||||
Profit and loss | Profit and loss | Profit and loss | ||||||||||||||||||||||||||||||||||||||||||||
Total revenue | Total revenue | 1,041,035 | — | — | 1,041,035 | Total revenue | 1,440,328 | — | — | 1,440,328 | ||||||||||||||||||||||||||||||||||||
Mining and processing costs excluding depreciation | Mining and processing costs excluding depreciation | (444,147) | — | 1,407 | (442,740) | Mining and processing costs excluding depreciation | (429,949) | — | 1,122 | (428,827) | ||||||||||||||||||||||||||||||||||||
Depreciation and amortisation | Depreciation and amortisation | (309,696) | (1,744) | (18,079) | (329,519) | Depreciation and amortisation | (232,804) | (2,017) | (6,490) | (241,311) | ||||||||||||||||||||||||||||||||||||
Mining and processing costs | Mining and processing costs | (753,843) | (1,744) | (16,672) | (772,259) | Mining and processing costs | (662,753) | (2,017) | (5,368) | (670,138) | ||||||||||||||||||||||||||||||||||||
Royalties | Royalties | (45,249) | — | — | (45,249) | Royalties | (67,547) | — | — | (67,547) | ||||||||||||||||||||||||||||||||||||
Exploration and corporate expenditure | Exploration and corporate expenditure | (6,084) | (70) | — | (6,154) | Exploration and corporate expenditure | (6,173) | (101) | — | (6,274) | ||||||||||||||||||||||||||||||||||||
Other (expenses)/income and JV profit | Other (expenses)/income and JV profit | 12,552 | 537 | (1,407) | 11,682 | Other (expenses)/income and JV profit | (34,322) | 409 | (1,121) | (35,034) | ||||||||||||||||||||||||||||||||||||
Finance costs | Finance costs | (191,543) | (29) | 187,107 | (4,465) | Finance costs | (195,192) | — | 188,732 | (6,460) | ||||||||||||||||||||||||||||||||||||
Finance income | Finance income | 1,578 | 12,980 | (11,178) | 3,380 | Finance income | 4,389 | 12,785 | (10,262) | 6,912 | ||||||||||||||||||||||||||||||||||||
(Loss)/Profit before income tax | 58,446 | 11,674 | 157,850 | 227,970 | ||||||||||||||||||||||||||||||||||||||||||
Profit before income tax | Profit before income tax | 478,730 | 11,076 | 171,981 | 661,787 | |||||||||||||||||||||||||||||||||||||||||
Income tax expense | Income tax expense | (15,972) | — | — | (15,972) | Income tax expense | (157,090) | — | — | (157,090) | ||||||||||||||||||||||||||||||||||||
Net (loss)/profit for the year | 42,474 | 11,674 | 157,850 | 211,998 | ||||||||||||||||||||||||||||||||||||||||||
Net profit for the year | Net profit for the year | 321,640 | 11,076 | 171,981 | 504,697 | |||||||||||||||||||||||||||||||||||||||||
Capital expenditure | Capital expenditure | 145,696 | — | — | 145,696 | Capital expenditure | 156,831 | — | — | 156,831 | ||||||||||||||||||||||||||||||||||||
Total assets | Total assets | 3,052,902 | 8,183,627 | (8,248,066) | 2,988,463 | Total assets | 3,762,098 | 10,862,319 | (11,101,207) | 3,523,210 | ||||||||||||||||||||||||||||||||||||
Total liabilities | Total liabilities | (3,135,151) | (4,410,200) | 7,416,707 | (128,644) | Total liabilities | (3,403,586) | (7,093,329) | 10,208,034 | (288,881) |
31 Dec 2020 | 31 Dec 2019 | 31 Dec 2018 | |||||||||||||||
$’000 | $’000 | $’000 | |||||||||||||||
Level of exposure of foreign currency risk carrying value of foreign currency balances. Cash and cash equivalents includes balances denominated in: | |||||||||||||||||
Congolese Franc (CDF) | 313 | 2,289 | 18 | ||||||||||||||
Euro (EUR) | 82 | 63 | 613 | ||||||||||||||
South African Rand (ZAR) | 229 | 299 | 102 | ||||||||||||||
British Pound (GBP) | 7 | 11 | 22 | ||||||||||||||
Australian Dollar (AUD) | 418 | 10 | — | ||||||||||||||
31 Dec 2022 | 31 Dec 2021 | 31 Dec 2020 | |||||||||||||||
US$’000 | US$’000 | US$’000 | |||||||||||||||
Level of exposure of foreign currency risk carrying value of foreign currency balances. Cash and cash equivalents includes balances denominated in: | |||||||||||||||||
•Congolese Franc (CDF) | (2,981) | 2,189 | 313 | ||||||||||||||
•Euro (EUR) | 419 | 4 | 82 | ||||||||||||||
•South African Rand (ZAR) | 624 | 205 | 229 | ||||||||||||||
•British Pound (GBP) | 47 | 199 | 7 | ||||||||||||||
•Australian Dollar (AUD) | 249 | 500 | 418 | ||||||||||||||
Amount $’000 | Effective rate for year | Amount US$’000 | Effective rate for the year | |||||||||||||
Cash and cash equivalents: | Cash and cash equivalents: | Cash and cash equivalents: | ||||||||||||||
All less than 90 days (2022) | All less than 90 days (2022) | 91,865 | 0.85% | |||||||||||||
All less than 90 days (2021) | All less than 90 days (2021) | 1,115,359 | 0.70% | |||||||||||||
All less than 90 days (2020) | All less than 90 days (2020) | 944,233 | 0.75% | All less than 90 days (2020) | 944,233 | 0.75% | ||||||||||
All less than 90 days (2019) | 452,692 | 0.88% | ||||||||||||||
All less than 90 days (2018) | 123,931 | 0.99% |
31 Dec 2020 | 31 Dec 2019 | 31 Dec 2018 | |||||||||||||||
$’000 | $’000 | $’000 | |||||||||||||||
Capital risk management | |||||||||||||||||
Borrowings and trade and other payables | 132,012 | 102,917 | 100,186 | ||||||||||||||
Less: cash and cash equivalents | (944,233) | (452,692) | (123,931) | ||||||||||||||
Net borrowings, trade and other payables | (812,221) | (349,775) | (23,745) | ||||||||||||||
Total equity | 3,234,329 | 3,010,126 | 2,859,819 | ||||||||||||||
Total capital | 2,422,911 | 2,660,351 | 2,836,074 | ||||||||||||||
Gearing ratio | -33% | -13% | -1% |
31 Dec 2022 | 31 Dec 2021 | 31 Dec 2020 | |||||||||||||||
US$’000 | US$’000 | US$’000 | |||||||||||||||
Capital risk management | |||||||||||||||||
Borrowings, trade and other payables and lease liabilities (note 16 and 18) | 211,666 | 154,696 | 132,012 | ||||||||||||||
Less: cash and cash equivalents | (91,865) | (1,115,359) | (944,233) | ||||||||||||||
Net borrowings, trade and other payables and cash | 119,801 | (960,663) | (812,221) | ||||||||||||||
Total equity | 2,181,425 | 3,246,965 | 3,234,329 | ||||||||||||||
Total capital | 2,301,228 | 2,286,302 | 2,422,911 | ||||||||||||||
Gearing ratio | 5% | (42)% | (33)% |
Trade and other payables | Borrowings | Expected Future interest payments | |||||||||||||||
US$'000 | US$'000 | US$'000 | |||||||||||||||
At 31 December 2022 | |||||||||||||||||
Financial liabilities | |||||||||||||||||
Within 1 year in demand | 104,815 | 8,240 | 4,088 | ||||||||||||||
Later than 1 year and no later than 5 years | — | 64,934 | 7,413 | ||||||||||||||
Total | 104,815 | 73,174 | 11,501 | ||||||||||||||
At 31 December 2021 | |||||||||||||||||
Financial liabilities | |||||||||||||||||
Within 1 year in demand | 97,109 | 11,502 | 2,407 | ||||||||||||||
Later than 1 year and no later than 5 years | — | 39,649 | 4,029 | ||||||||||||||
Total | 97,109 | 51,151 | 6,436 | ||||||||||||||
At 31 December 2020 | |||||||||||||||||
Financial liabilities | |||||||||||||||||
Within 1 year in demand | 66,881 | 12,121 | 2,553 | ||||||||||||||
Later than 1 year and no later than 5 years | — | 50,340 | 117 | ||||||||||||||
Total | 66,881 | 62,461 | 2,670 |
Trade and other payables | Borrowings | Expected Future interest payments | |||||||||||||||
$'000 | $'000 | $'000 | |||||||||||||||
At 31 December 2020 | |||||||||||||||||
Financial liabilities | |||||||||||||||||
Within 1 year in demand | 66,880 | 14,674 | 2,553 | ||||||||||||||
Later than 1 year and no later than 5 | — | 69,299 | 117 | ||||||||||||||
After 5 years | — | — | — | ||||||||||||||
Total | 66,880 | 83,973 | 2,670 | ||||||||||||||
At 31 December 2019 | |||||||||||||||||
Financial liabilities | |||||||||||||||||
Within 1 year in demand | 46,484 | 11,105 | 2,030 | ||||||||||||||
Later than 1 year and no later than 5 | — | 45,328 | 2,373 | ||||||||||||||
After 5 years | — | — | — | ||||||||||||||
Total | 46,484 | 56,433 | 4,403 | ||||||||||||||
At 31 December 2018 | |||||||||||||||||
Financial liabilities | |||||||||||||||||
Within 1 year in demand | 59,770 | 11,425 | 2,966 | ||||||||||||||
Later than 1 year and no later than 5 | — | 28,991 | 5,780 | ||||||||||||||
After 5 years | — | — | 127 | ||||||||||||||
Total | 59,770 | 40,416 | 8,873 |
31 Dec | 31 Dec | 31 Dec | |||||||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||||||||
US$’000 | US$’000 | US$’000 | |||||||||||||||||||||
Profit before income taxation | 661,787 | 362,246 | 227,970 | ||||||||||||||||||||
Adjustments for: | |||||||||||||||||||||||
Interest received (Note 8) | (6,912) | (4,370) | (3,380) | ||||||||||||||||||||
Finance cost (Note 8)(4) | 6,460 | 3,973 | 3,874 | ||||||||||||||||||||
Share of profits of equity accounted joint venture | (239) | (34) | (132) | ||||||||||||||||||||
Depreciation and amortisation | 241,311 | 282,180 | 329,519 | ||||||||||||||||||||
Foreign exchange loss / (gain) (Note 5) | (2,035) | 1,458 | (53,747) | ||||||||||||||||||||
TVA write off agreement (Note 5) | 1,462 | — | 20,584 | ||||||||||||||||||||
Movement in discounting provision on TVA (Note 5) | 12,740 | — | 17,309 | ||||||||||||||||||||
914,574 | 645,453 | 541,997 | |||||||||||||||||||||
Effects of changes in operating working capital items | |||||||||||||||||||||||
Receivables | 2,167 | 3,998 | (12,286) | ||||||||||||||||||||
Inventories | 20,325 | (26,142) | (35,536) | ||||||||||||||||||||
Trade and other payables | 19,804 | (7,878) | (20,967) | ||||||||||||||||||||
Cash generated from operations | 956,870 | 615,431 | 473,208 | ||||||||||||||||||||
31 Dec | 31 Dec | 31 Dec | |||||||||||||||||||||
2022 | 2021 | 2020 | |||||||||||||||||||||
US$’000 | US$’000 | US$’000 | |||||||||||||||||||||
Profit before income taxation | 488,208 | 674,353 | 661,787 | ||||||||||||||||||||
Adjustments for: | |||||||||||||||||||||||
Finance income (Note 7) | (5,187) | (5,618) | (6,912) | ||||||||||||||||||||
Finance cost (Note 7) | 49,917 | 5,913 | 6,460 | ||||||||||||||||||||
Share of profits of equity accounted joint venture | (157) | (103) | (239) | ||||||||||||||||||||
Depreciation and amortisation (Note 5) | 207,813 | 243,958 | 241,311 | ||||||||||||||||||||
Foreign exchange loss / (gain) (Note 4) | — | (741) | (2,035) | ||||||||||||||||||||
TVA write off agreement (Note 4) | — | — | 1,462 | ||||||||||||||||||||
Movement in discounting provision on TVA (Note 4) | 5,950 | 8,351 | 12,740 | ||||||||||||||||||||
746,544 | 926,113 | 914,574 | |||||||||||||||||||||
Effects of changes in operating working capital items | |||||||||||||||||||||||
–Receivables | (96,962) | (26,214) | 2,167 | ||||||||||||||||||||
–Inventories | 11,871 | 19,412 | 20,325 | ||||||||||||||||||||
–Trade and other payables | 14,447 | 24,933 | 19,804 | ||||||||||||||||||||
Cash generated from operations | 675,900 | 944,244 | 956,870 | ||||||||||||||||||||
Non-current | Current | Total | |||||||||||||||||||||
loans and | loans and | ||||||||||||||||||||||
borrowings | borrowings | ||||||||||||||||||||||
US$’000 | US$’000 | US$’000 | |||||||||||||||||||||
At 1 January 2018 | 40,350 | 7,596 | 47,946 | ||||||||||||||||||||
Cash flows: | |||||||||||||||||||||||
Lease repayments | — | (12,938) | (12,938) | ||||||||||||||||||||
Non cash flows: | |||||||||||||||||||||||
Loans and borrowings classified as non-current at 31 December 2017 | (12,885) | 12,885 | — | ||||||||||||||||||||
Interest and capital accrued | — | 3,882 | 3,882 | ||||||||||||||||||||
At 31 December 2018 | 27,465 | 11,425 | 38,890 | ||||||||||||||||||||
At 1 January 2019 | 27,465 | 11,425 | 38,890 | ||||||||||||||||||||
Lease repayments | 15,246 | 703 | 15,949 | ||||||||||||||||||||
Cash flows: | |||||||||||||||||||||||
Lease repayments | — | (14,263) | (14,263) | ||||||||||||||||||||
Non cash flows: | |||||||||||||||||||||||
Loans and borrowings classified as non-current at 31 December 2018 | (7,162) | 7,162 | — | ||||||||||||||||||||
Interest and capital accrued | 3,356 | 3,356 | |||||||||||||||||||||
Lease additions | 8,272 | 2,722 | 10,994 | ||||||||||||||||||||
At 31 December 2019 | 43,821 | 11,105 | 54,926 | ||||||||||||||||||||
At 1 January 2020 | 43,821 | 11,105 | 54,926 | ||||||||||||||||||||
Cash flows: | |||||||||||||||||||||||
Lease repayments | (23,935) | (23,935) | |||||||||||||||||||||
Non cash flows: | |||||||||||||||||||||||
Loans and borrowings classified as non-current at 31 December 2019 | (15,825) | 15,825 | — | ||||||||||||||||||||
Interest and capital accrued | — | 5,818 | 5,818 | ||||||||||||||||||||
IFRS 16 lease additions | 22,461 | 5,861 | 28,322 | ||||||||||||||||||||
At 31 December 2020 1 | 50,457 | 14,674 | 65,131 |
Non-current | Current | Total | |||||||||||||||||||||
loans and | loans and | ||||||||||||||||||||||
borrowings | borrowings | ||||||||||||||||||||||
US$’000 | US$’000 | US$’000 | |||||||||||||||||||||
At 1 January 2020 | 45,328 | 11,105 | 56,433 | ||||||||||||||||||||
Cash flows: | |||||||||||||||||||||||
Lease repayments | — | (23,935) | (23,935) | ||||||||||||||||||||
Non cash flows: | |||||||||||||||||||||||
Loans and borrowings classified as non-current at 31 December 2020 | (15,825) | 15,825 | — | ||||||||||||||||||||
Interest and capital accrued | — | 5,818 | 5,818 | ||||||||||||||||||||
IFRS 16 lease additions | 20,954 | 5,861 | 26,815 | ||||||||||||||||||||
At 31 December 2020 1 | 50,457 | 14,674 | 65,131 | ||||||||||||||||||||
At 1 January 2021 | 50,457 | 14,674 | 65,131 | ||||||||||||||||||||
Cash flows: | |||||||||||||||||||||||
Lease repayments | — | (24,565) | (24,565) | ||||||||||||||||||||
Non cash flows: | |||||||||||||||||||||||
Loans and borrowings classified as non-current at 31 December 2021 | (17,603) | 17,603 | — | ||||||||||||||||||||
Loan from Group (Note 16) | — | — | — | ||||||||||||||||||||
Interest and capital accrued | — | 5,428 | 5,428 | ||||||||||||||||||||
IFRS 16 lease additions | 8,985 | 769 | 9,754 | ||||||||||||||||||||
At 31 December 2021 | 41,839 | 13,909 | 55,748 | ||||||||||||||||||||
At 1 January 2022 | 41,839 | 13,909 | 55,748 | ||||||||||||||||||||
Cash flows: | |||||||||||||||||||||||
Lease repayments | — | (18,660) | (18,660) | ||||||||||||||||||||
Overdraft (note 16) | — | 20,341 | 20,341 | ||||||||||||||||||||
Non cash flows: | |||||||||||||||||||||||
Other movements | — | 3,495 | 3,495 | ||||||||||||||||||||
Loans and borrowings classified as non-current at 31 December 2022 | (12,551) | 12,551 | — | ||||||||||||||||||||
Loan from Group (Note 16) | — | 19,462 | 19,462 | ||||||||||||||||||||
Interest and capital accrued | — | 4,707 | 4,707 | ||||||||||||||||||||
IFRS 16 lease additions and modifications | 21,757 | — | 21,757 | ||||||||||||||||||||
At 31 December 2022 | 51,045 | 55,805 | 106,850 |
31 Dec | 31 Dec | 31 Dec | |||||||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||||||||
US$’000 | US$’000 | US$’000 | |||||||||||||||||||||
Capital expenditure contracted for at statement of financial | |||||||||||||||||||||||
position date but not yet incurred is: | |||||||||||||||||||||||
Property, plant and equipment | 22,227 | 29,593 | 22,687 |
31 Dec | 31 Dec | 31 Dec | |||||||||||||||||||||
2022 | 2021 | 2020 | |||||||||||||||||||||
US$’000 | US$’000 | US$’000 | |||||||||||||||||||||
Capital expenditure contracted for at statement of financial | |||||||||||||||||||||||
position date but not yet incurred is: | |||||||||||||||||||||||
Property, plant and equipment | 24,637 | 28,157 | 22,227 |
31 Dec | 31 Dec | 31 Dec | |||||||||||||||||||||
2022 | 2021 | 2020 | |||||||||||||||||||||
US$’000 | US$’000 | US$’000 | |||||||||||||||||||||
Summarised statement of financial position | |||||||||||||||||||||||
Current assets | |||||||||||||||||||||||
Cash and cash equivalents | 5,384 | 3,485 | 1,630 | ||||||||||||||||||||
Other current assets (excluding cash) | 8,962 | 3,675 | 1,703 | ||||||||||||||||||||
Total current assets | 14,346 | 7,160 | 3,333 | ||||||||||||||||||||
Other current liabilities (including trade payables) | (4,186) | (1,846) | (2,149) | ||||||||||||||||||||
Total current liabilities | (4,186) | (1,846) | (2,149) |
31 Dec | 31 Dec | 31 Dec | |||||||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||||||||
US$’000 | US$’000 | US$’000 | |||||||||||||||||||||
Summarised statement of financial position | |||||||||||||||||||||||
Current assets | |||||||||||||||||||||||
Cash and cash equivalents | 1,630 | 3,384 | 3,125 | ||||||||||||||||||||
Other current assets (excluding cash) | 1,703 | 5,643 | 1,988 | ||||||||||||||||||||
Total current assets | 3,333 | 9,027 | 5,113 | ||||||||||||||||||||
Other current liabilities (including trade payables) | (1,960) | (6,014) | (1,523) | ||||||||||||||||||||
Total current liabilities | (1,960) | (6,014) | (1,523) |
Non-current | |||||||||||||||||||||||
Assets | 42,115 | 38,148 | 44,552 | ||||||||||||||||||||
Financial liabilities | (51,748) | (43,249) | (45,248) | ||||||||||||||||||||
Net assets | 527 | 213 | 488 | ||||||||||||||||||||
Summarised statement of comprehensive income | |||||||||||||||||||||||
Operating profit/(loss) | 288 | 3 | 268 | ||||||||||||||||||||
Interest income | 3,139 | 3,167 | 3,562 | ||||||||||||||||||||
Interest expense | (3,113) | (2,965) | (3,352) | ||||||||||||||||||||
Profit and total comprehensive income for the period | 314 | 205 | 478 | ||||||||||||||||||||
Dividends received from joint venture | — | 480 | 131 |
Non-current | |||||||||||||||||||||||
Assets | 44,972 | 39,919 | 39,431 | ||||||||||||||||||||
Financial liabilities | (45,248) | (42,248) | (42,248) | ||||||||||||||||||||
Net assets | 1,097 | 684 | 773 | ||||||||||||||||||||
Summarised statement of comprehensive income | |||||||||||||||||||||||
Operating profit/(loss) | 268 | (120) | (21) | ||||||||||||||||||||
Interest income | 3,562 | 3,185 | 3,440 | ||||||||||||||||||||
Interest expense | (3,352) | (2,998) | (3,155) | ||||||||||||||||||||
Profit and total comprehensive income for the period | 478 | 67 | 264 | ||||||||||||||||||||
Dividends received from joint venture | 65 | 156 | — |
Reconciliation of the summarised financial information presented to the carrying amount of the group's interest in KAS | Reconciliation of the summarised financial information presented to the carrying amount of the group's interest in KAS | Reconciliation of the summarised financial information presented to the carrying amount of the group's interest in KAS | ||||||||||||||||||||||||||||||||||||||||||||||||||
Opening net assets at 1 January | Opening net assets at 1 January | 684 | 773 | 509 | Opening net assets at 1 January | 213 | 488 | 141 | ||||||||||||||||||||||||||||||||||||||||||||
Profit for the period | Profit for the period | 478 | 67 | 264 | Profit for the period | 314 | 205 | 478 | ||||||||||||||||||||||||||||||||||||||||||||
Dividends received | Dividends received | (65) | (156) | — | Dividends received | — | (480) | (131) | ||||||||||||||||||||||||||||||||||||||||||||
Closing net assets at 31 December | Closing net assets at 31 December | 1,097 | 684 | 773 | Closing net assets at 31 December | 527 | 213 | 488 | ||||||||||||||||||||||||||||||||||||||||||||
Interest in joint venture at 50.1% | Interest in joint venture at 50.1% | 550 | 343 | 387 | Interest in joint venture at 50.1% | 264 | 107 | 244 | ||||||||||||||||||||||||||||||||||||||||||||
Profit for the period at 50.1% | Profit for the period at 50.1% | 239 | 34 | 132 | Profit for the period at 50.1% | 157 | 103 | 239 | ||||||||||||||||||||||||||||||||||||||||||||
Funding classified as long term debt by joint venture recorded in ‘other investments in joint ventures’ | Funding classified as long term debt by joint venture recorded in ‘other investments in joint ventures’ | 22,790 | 20,795 | 21,479 | Funding classified as long term debt by joint venture recorded in ‘other investments in joint ventures’ | 25,990 | 21,669 | 23,096 | ||||||||||||||||||||||||||||||||||||||||||||
Carrying value | Carrying value | 23,340 | 21,138 | 21,866 | Carrying value | 26,254 | 21,776 | 23,340 |
Related parties | Nature of relationship | ||||
Barrick Gold (Holdings) Limited | Ultimate Joint Venture partner | ||||
AngloGold Ashanti | Ultimate Joint Venture partner | ||||
AngloGold Ashanti Holdings plc | Joint Venture partner | ||||
Barrick Gold (Kibali) Limited | Joint Venture partner | ||||
Barrick Gold (Congo) SPRL | Entity under common control (subsidiary of Barrick) | ||||
Société des Mines de Loulo SA | Entity under common control (subsidiary of Barrick) | ||||
Société des Mines de Tongon SA | Entity under common control (subsidiary of Barrick) | ||||
Société des Mines de Gounkoto SA | Entity under common control (subsidiary of Barrick) | ||||
Société des Mines de Morila SA | Entity under common control (subsidiary of Barrick) | ||||
Rand Refinery (Pty) Limited | Associate of AngloGold Ashanti | ||||
SOKIMO | Government interest in Kibali | ||||
KAS | Joint Venture | ||||
Isiro (Jersey) Limited | Joint Venture of Barrick | ||||
KGL Isiro SARL | Subsidiary of Isiro (Jersey) Limited |
31 Dec | 31 Dec | 31 Dec | 31 Dec | 31 Dec | 31 Dec | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2020 | 2019 | 2018 | 2022 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
US$’000 | US$’000 | US$’000 | US$’000 | US$’000 | US$’000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related party transactions | Related party transactions | Related party transactions | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividend paid to SOKIMO | Dividend paid to SOKIMO | 9,000 | 20,000 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Management fee paid to Barrick Gold (Holdings) Ltd | Management fee paid to Barrick Gold (Holdings) Ltd | 4,668 | 4,563 | 4,478 | Management fee paid to Barrick Gold (Holdings) Ltd | 7,036 | 6,216 | 4,668 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Refining fees to Rand Refinery (Pty) Limited | Refining fees to Rand Refinery (Pty) Limited | 5,818 | 3,444 | 3,957 | Refining fees to Rand Refinery (Pty) Limited | 313 | 4,789 | 5,818 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest received from SOKIMO | 1,843 | 1,697 | 1,446 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest income from SOKIMO | Interest income from SOKIMO | 2,113 | 2,291 | 1,843 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shareholders interest received from KAS | Shareholders interest received from KAS | 1,494 | 1,294 | 1,578 | Shareholders interest received from KAS | 1,400 | 1,469 | 1,494 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest incurred to KAS on the finance lease liability | Interest incurred to KAS on the finance lease liability | 3,181 | 2,727 | 3,359 | Interest incurred to KAS on the finance lease liability | 2,981 | 3,128 | 3,181 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amounts included in trade and other receivables owed to / (owing from) related parties | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amounts included in trade and other receivables owed from / (owing to) related parties | Amounts included in trade and other receivables owed from / (owing to) related parties | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rand Refinery (Pty) Limited | Rand Refinery (Pty) Limited | 1,202 | 26,580 | 11,114 | Rand Refinery (Pty) Limited | 48,532 | 20,832 | 1,202 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loan to SOKIMO | Loan to SOKIMO | 23,933 | 22,090 | 20,393 | Loan to SOKIMO | 28,010 | 25,897 | 23,933 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loan to Barrick Gold (Congo) SPRL | Loan to Barrick Gold (Congo) SPRL | 1,569 | 1,198 | 616 | Loan to Barrick Gold (Congo) SPRL | 1,641 | 1,988 | 1,569 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loan to KGL Isiro SARL | Loan to KGL Isiro SARL | 172 | 163 | 97 | Loan to KGL Isiro SARL | 208 | 202 | 172 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loan (from) / to Société des Mines de Loulo SA | Loan (from) / to Société des Mines de Loulo SA | (1) | 3 | 22 | Loan (from) / to Société des Mines de Loulo SA | (95) | — | (1) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loan (from) / to Société des Mines de Tongon SA | Loan (from) / to Société des Mines de Tongon SA | (254) | 133 | 32 | Loan (from) / to Société des Mines de Tongon SA | (34) | (29) | (254) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loan to Société des Mines de Gounkoto SA | Loan to Société des Mines de Gounkoto SA | 1 | — | — | Loan to Société des Mines de Gounkoto SA | 1 | 1 | 1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loan to Société des Mines de Morila SA | — | — | 45 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amounts included in other investment in joint venture owing by related parties | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amounts included in other investment in joint venture owing by related parties | Amounts included in other investment in joint venture owing by related parties | Amounts included in other investment in joint venture owing by related parties | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loan to KAS | 25,990 | 21,669 | 23,096 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amounts included in loans and borrowings owed to related parties | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loan from Barrick Gold (Holdings) Ltd | (1,302) | (1,507) | (1,526) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loan to/(from) Barrick Gold (Holdings) Ltd | Loan to/(from) Barrick Gold (Holdings) Ltd | (21,301) | (1,839) | 186 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Finance lease liability with KAS | Finance lease liability with KAS | (41,524) | (39,681) | (38,890) | Finance lease liability with KAS | (44,690) | (35,187) | (41,524) |
% of | Country of | ||||||||||
Interest | incorporation | ||||||||||
and | |||||||||||
residence | |||||||||||
Company | Kibali (Jersey) Ltd | Jersey | |||||||||
Subsidiary | Border Energy East Africa (Pty) Ltd | 100% | Uganda | ||||||||
Subsidiary | Moto (Jersey) 1 Ltd | 100% | Jersey | ||||||||
Subsidiary | Kibali 2 (Jersey) Ltd | 100% | Jersey | ||||||||
Subsidiary | 0858065 B.C. Limited | 100% | Canada | ||||||||
Subsidiary | Moto Goldmines Australia Pty Ltd | 100% | Australia | ||||||||
Subsidiary | Kibali Goldmines SA | 90% | DRC | ||||||||
Jointly controlled entity | KAS 1 Limited | 50.1% | Jersey |
Exhibit Number | Description | Remarks | ||||||||||||
Exhibit 19.1 | Filed herewith | |||||||||||||
Exhibit 19.2.1 | Incorporated by reference to Exhibit 4.2 to AngloGold Ashanti Limited and AngloGold Ashanti Holdings plc’s Registration Statement on Form F-3 (Nos. 333-182712 and 333-182712-02) filed with the Securities and Exchange Commission on 17 July 2012 | |||||||||||||
Exhibit 19.2.2 | Incorporated by reference to Exhibit 99(C) to AngloGold Ashanti Limited and AngloGold Ashanti Holdings plc’s Registration Statement on Form 8-A (Nos. 001-14846 and 001-34725) filed with the Securities and Exchange Commission on 28 April 2010 | |||||||||||||
Exhibit 19.2.3 | ||||||||||||||
Incorporated by reference to Exhibit 4.1 to AngloGold Ashanti Limited and AngloGold Ashanti Holdings | ||||||||||||||
Exhibit 19.2.4 | Incorporated by reference to Exhibit 4.1 to AngloGold Ashanti Limited and AngloGold Ashanti Holdings plc’s report on Form 6-K (Nos. 001-14846 and 001-34725) filed with the Securities and Exchange Commission on 22 October 2021 | |||||||||||||
Exhibit 19.2.5 | Filed herewith | |||||||||||||
Exhibit 19.2.6 | Incorporated by reference to Exhibit 1 to AngloGold Ashanti Limited’s Registration Statement on Form F-6 (No. 333-159248) filed with the Securities and Exchange Commission on 14 May 2009 | |||||||||||||
Exhibit 19.4.1.1 | Incorporated by reference to AngloGold Ashanti Limited’s report on Form 6-K (No. 001-14846) furnished to the Securities and Exchange Commission on 10 April 2013 | |||||||||||||
Exhibit 19.4.1.2 | Incorporated by reference to AngloGold Ashanti Limited’s report on Form 6-K (No. 001-14846) furnished to the Securities and Exchange Commission on 10 April 2013 | |||||||||||||
Exhibit 19.4.1.3 | ||||||||||||||
Exhibit 19.4.4.1 |
Exhibit Number | Description | Remarks | ||||||||||||
Exhibit 19.4.5.1 | Incorporated by reference to Exhibit 19.4.5.6 to AngloGold Ashanti Limited’s | |||||||||||||
Exhibit 19.4.5.2 | Exhibit 99.1 to AngloGold Ashanti Limited’s report on Form 6-K (No. 001-14846) filed with the Securities and Exchange Commission on 4 May 2021 | |||||||||||||
Exhibit 19.4.5.3 | Incorporated by reference to Exhibit 99.2 to AngloGold Ashanti Limited’s report on Form 6-K (No. 001-14846) filed with the Securities and Exchange Commission on 4 May 2021 | |||||||||||||
Exhibit 19.4.5.4 | Filed herewith | |||||||||||||
Exhibit 19.4.5.5 | Filed herewith | |||||||||||||
Exhibit 19.4.6 | Stock Purchase Agreement dated as of 8 June 2015, among AngloGold Ashanti North America Inc., a Colorado corporation, AngloGold Ashanti USA Incorporated, a Delaware corporation, AngloGold Ashanti (Colorado) Corp., a Delaware corporation, GCGC LLC, a Colorado limited liability company, and Newmont Mining Corporation, a Delaware corporation, and AngloGold AshantiLimited, a South African public company | Incorporated by reference to AngloGold Ashanti | ||||||||||||
Exhibit 19.8 | Filed herewith | |||||||||||||
Exhibit 19.12.1 | Filed herewith | |||||||||||||
Exhibit 19.12.2 | Filed herewith | |||||||||||||
Exhibit 19.13 | Filed herewith | |||||||||||||
Exhibit 19.15.1 | Filed herewith | |||||||||||||
Exhibit 19.15.2 | Filed herewith | |||||||||||||
Exhibit 19.15.3 | Filed herewith | |||||||||||||
Shares held | Holding | Percentage held | ||||||||||||||||||
2020 | 2019 | 2020 | 2019 | |||||||||||||||||
Principal subsidiaries and controlled operating entities(1) | ||||||||||||||||||||
AngloGold Ashanti Australia Limited(2) | 2 | 257,462,077 | 257,462,077 | I | 100 | 100 | ||||||||||||||
AngloGold Ashanti Holdings plc | 6 | 5,326,550,917 | 5,326,550,917 | D | 100 | 100 | ||||||||||||||
AngloGold Ashanti USA Incorporated | 10 | 235 | 235 | D | 100 | 100 | ||||||||||||||
Operating entities | ||||||||||||||||||||
AngloGold Ashanti Córrego do Sítio Mineração S.A. | 3 | 4,167,084,999 | 4,167,084,999 | I | 100 | 100 | ||||||||||||||
AngloGold Ashanti (Ghana) Limited(3) | 4 | 132,419,584 | 132,419,584 | I | 100 | 100 | ||||||||||||||
AngloGold Ashanti (Iduapriem) Limited | 4 | 66,270 | 66,270 | I | 100 | 100 | ||||||||||||||
Cerro Vanguardia S.A. | 1 | 13,875,000 | 13,875,000 | I | 92.5 | 92.50 | ||||||||||||||
Geita Gold Mining Limited | 9 | 123,382,772 | 123,382,772 | I | 100 | 100 | ||||||||||||||
Mineração Serra Grande S.A. | 3 | 1,999,999 | 1,999,999 | I | 100 | 100 | ||||||||||||||
Société AngloGold Ashanti de Guinée S.A. | 5 | 3,486,134 | 3,486,134 | I | 85 | 85 | ||||||||||||||
Joint venture operating entities | ||||||||||||||||||||
Kibali (Jersey) Limited(4) | 7 | 2,324 | 2,324 | I | 50 | 50 | ||||||||||||||
Société des Mines de Morila S.A.(5) | 8 | — | 400 | I | — | 40 | ||||||||||||||
Société d'Exploitation des Mines d'Or de Sadiola S.A.(6) | 8 | — | 41,000 | I | — | 41 | ||||||||||||||
Unincorporated joint operation | ||||||||||||||||||||
Tropicana joint operation | 2 | n/a | n/a | I | 70 | 70 |
1 | Argentina | 6 | Isle of Man | |||||||||||
2 | Australia | 7 | Jersey | |||||||||||
3 | Brazil | 8 | Mali | |||||||||||
4 | Ghana | 9 | Tanzania | |||||||||||
5 | Republic of Guinea | 10 | United States of America |
Exhibit Number | Description | Remarks | ||||||||||||
Exhibit 19.15.4 | Filed herewith | |||||||||||||
Exhibit 19.15.5 | Filed herewith | |||||||||||||
Exhibit 19.15.6 | Filed herewith | |||||||||||||
Exhibit 19.15.7 | Filed herewith | |||||||||||||
Exhibit 19.15.8 | Filed herewith | |||||||||||||
Exhibit 19.15.9 | Filed herewith | |||||||||||||
Exhibit 19.16 | Filed herewith | |||||||||||||
Exhibit 19.17 | Filed herewith |
Name | : | |||||||||||||
Title | : | |||||||||||||
Date | : |