Document and Entity Information
Document and Entity Information (DEI) Document | 12 Months Ended |
Dec. 31, 2019shares | |
Document and Entity Information [Abstract] | |
Document Type | 20-F |
Amendment Flag | false |
Document Period End Date | Dec. 31, 2019 |
Document Fiscal Year Focus | 2019 |
Document Fiscal Period Focus | FY |
Entity Registrant Name | ANGLOGOLD ASHANTI LTD, |
Entity Central Index Key | 0001067428 |
Current Fiscal Year End Date | --12-31 |
Entity Well Known Seasoned Issuer | Yes |
Entity Current Reporting Status | No |
Entity Shell Company | false |
Entity Emerging Growth Company | false |
Entity Voluntary Filers | No |
Entity Filler Category | Large Accelerated Filer |
Entity Common Stock, Shares Outstanding | 415,301,215 |
Income Statement
Income Statement - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Profit or loss [abstract] | |||
Revenue from product sales | $ 3,525 | $ 3,336 | $ 3,394 |
Cost of sales | (2,626) | (2,584) | (2,607) |
Gain (loss) on non-hedge derivatives and other commodity contracts | 5 | (2) | 0 |
Gross profit (loss) | 904 | 750 | 787 |
Corporate administration, marketing and other expenses | (82) | (76) | (64) |
Exploration and evaluation costs | (112) | (98) | (105) |
Impairment, derecognition of assets and profit (loss) on disposal | (6) | (7) | (2) |
Other expenses (income) | (83) | (79) | (150) |
Operating profit (loss) | 621 | 490 | 466 |
Interest income | 14 | 8 | 8 |
Dividend received | 0 | 2 | 0 |
Foreign exchange losses | (12) | (9) | (11) |
Finance costs and unwinding of obligations | (172) | (168) | (157) |
Share of associates and joint ventures’ profit (loss) | 168 | 122 | 22 |
Profit (loss) before taxation | 619 | 445 | 328 |
Taxation | (250) | (212) | (163) |
Profit (loss) after taxation from continuing operations | 369 | 233 | 165 |
Discontinued operations | |||
Profit (loss) from discontinued operations | (376) | (83) | (336) |
Profit (loss) for the year | (7) | 150 | (171) |
Equity shareholders | |||
- Continuing operations | 364 | 216 | 145 |
- Discontinued operations | (376) | (83) | (336) |
Non-controlling interests | |||
- Continuing operations | $ 5 | $ 17 | $ 20 |
Basic earnings (loss) per ordinary share | |||
Basic earnings (loss) per ordinary share (dollars per share) | $ (0.03) | $ 0.32 | $ (0.46) |
Earnings (loss) per ordinary share from continuing operations (dollars per share) | 0.87 | 0.52 | 0.35 |
(Loss) earnings per ordinary share from discontinued operations (dollars per share) | (0.90) | (0.20) | (0.81) |
Diluted earnings (loss) per ordinary share | |||
Diluted earnings (loss) per ordinary share (dollars per share) | (0.03) | 0.32 | (0.46) |
Earnings (loss) per ordinary share from continuing operations (dollars per share) | 0.87 | 0.52 | 0.35 |
(Loss) earnings per ordinary share from discontinued operations (dollars per share) | $ (0.90) | $ (0.20) | $ (0.81) |
Statement of Comprehensive Inco
Statement of Comprehensive Income Statement - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of analysis of other comprehensive income by item [line items] | |||
Profit (loss) for the year | $ (7) | $ 150 | $ (171) |
Items that will be reclassified subsequently to profit or loss: | |||
Items that will be reclassified subsequently to profit or loss: | 4 | (150) | 148 |
Exchange differences on translation of foreign operations | 4 | (150) | 123 |
Available-for-sale financial assets | 25 | ||
Net gain (loss) on available-for-sale financial assets | 20 | ||
Deferred taxation thereon | 8 | ||
Items that will not be reclassified subsequently to profit or loss: | |||
Items that will not be reclassified subsequently to profit or loss: | 10 | 9 | 6 |
Net gain (loss) on equity investments | 6 | 9 | |
Actuarial gain (loss) recognised | 2 | 5 | 8 |
Deferred taxation thereon | 2 | (5) | (2) |
Other comprehensive income (loss) for the year, net of tax | 14 | (141) | 154 |
Total comprehensive income (loss) for the year, net of tax | 7 | 9 | (17) |
Equity shareholders | |||
Comprehensive income (loss) attributable to AngloGold Ashanti | 378 | 75 | 299 |
Non-controlling interests | |||
Attributable to non-controlling interests | 5 | 17 | 20 |
Release on impairment of available-for-sale financial assets | |||
Items that will be reclassified subsequently to profit or loss: | |||
Reclassification adjustments on available-for-sale financial assets | 3 | ||
Release on disposal of available-for-sale financial assets | |||
Items that will be reclassified subsequently to profit or loss: | |||
Reclassification adjustments on available-for-sale financial assets | (6) | ||
Discontinued operations | |||
Equity shareholders | |||
Comprehensive income (loss) attributable to AngloGold Ashanti | $ (376) | $ (83) | $ (336) |
Statement of Financial Position
Statement of Financial Position - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Non-current assets | |||
Tangible assets | $ 2,592,000,000 | $ 3,381,000,000 | $ 3,742,000,000 |
Right of use assets | 158,000,000 | ||
Intangible assets | 123,000,000 | 123,000,000 | 138,000,000 |
Investments in associates and joint ventures | 1,581,000,000 | 1,528,000,000 | 1,507,000,000 |
Other investments | 76,000,000 | 141,000,000 | 131,000,000 |
Inventories | 93,000,000 | 106,000,000 | 100,000,000 |
Trade, other receivables and other assets | 122,000,000 | 102,000,000 | 67,000,000 |
Deferred taxation | 105,000,000 | 0 | 4,000,000 |
Cash restricted for use | 31,000,000 | 35,000,000 | 37,000,000 |
Non-current assets | 4,881,000,000 | 5,416,000,000 | 5,726,000,000 |
Current assets | |||
Other investments | 10,000,000 | 6,000,000 | 7,000,000 |
Inventories | 632,000,000 | 652,000,000 | 683,000,000 |
Trade, other receivables and other assets | 250,000,000 | 209,000,000 | 222,000,000 |
Cash restricted for use | 33,000,000 | 31,000,000 | 28,000,000 |
Cash and cash equivalents | 456,000,000 | 329,000,000 | 205,000,000 |
Current assets other than non-current assets held for sale | 1,381,000,000 | 1,227,000,000 | 1,145,000,000 |
Assets held for sale | 601,000,000 | 0 | 348,000,000 |
Current assets | 1,982,000,000 | 1,227,000,000 | 1,493,000,000 |
Total assets | 6,863,000,000 | 6,643,000,000 | 7,219,000,000 |
EQUITY AND LIABILITIES | |||
Share capital and premium | 7,199,000,000 | 7,171,000,000 | 7,134,000,000 |
Accumulated losses and other reserves | (4,559,000,000) | (4,519,000,000) | (4,471,000,000) |
Shareholders’ equity | 2,640,000,000 | 2,652,000,000 | 2,663,000,000 |
Non-controlling interests | 36,000,000 | 42,000,000 | 41,000,000 |
Total equity | 2,676,000,000 | 2,694,000,000 | 2,704,000,000 |
Non-current liabilities | |||
Borrowings | 1,299,000,000 | 1,911,000,000 | 2,230,000,000 |
Lease liabilities | 126,000,000 | ||
Environmental rehabilitation and other provisions | 697,000,000 | 827,000,000 | 942,000,000 |
Provision for pension and post-retirement benefits | 100,000,000 | 100,000,000 | 122,000,000 |
Trade, other payables and provisions | 15,000,000 | 3,000,000 | 3,000,000 |
Deferred taxation | 241,000,000 | 315,000,000 | 363,000,000 |
Non-current liabilities | 2,478,000,000 | 3,156,000,000 | 3,660,000,000 |
Current liabilities | |||
Borrowings | 734,000,000 | 139,000,000 | 38,000,000 |
Lease liabilities | 45,000,000 | ||
Trade, other payables and provisions | 586,000,000 | 594,000,000 | 638,000,000 |
Taxation | 72,000,000 | 60,000,000 | 53,000,000 |
Current liabilities other than liabilities held for sale | 1,437,000,000 | 793,000,000 | 729,000,000 |
Liabilities held for sale | 272,000,000 | 0 | 126,000,000 |
Current liabilities | 1,709,000,000 | 793,000,000 | 855,000,000 |
Total liabilities | 4,187,000,000 | 3,949,000,000 | 4,515,000,000 |
Total equity and liabilities | $ 6,863,000,000 | $ 6,643,000,000 | $ 7,219,000,000 |
Statement of Cash Flows
Statement of Cash Flows - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Cash flows from operating activities | |||
Receipts from customers | $ 3,535 | $ 3,339 | $ 3,418 |
Payments to suppliers and employees | (2,433) | (2,408) | (2,351) |
Cash generated from operations | 1,102 | 931 | 1,067 |
Dividends received from joint ventures | 77 | 91 | 6 |
Taxation refund | 7 | 5 | 14 |
Taxation paid | (228) | (171) | (174) |
Net cash inflow (outflow) from operating activities from continuing operations | 958 | 856 | 913 |
Net cash inflow (outflow) from operating activities from discontinued operations | 89 | 1 | 84 |
Net cash inflow (outflow) from operating activities | 1,047 | 857 | 997 |
Cash flows from investing activities | |||
Capital expenditure | (703) | (575) | (675) |
Interest capitalised and paid | (6) | 0 | 0 |
Dividends from other investments | 0 | 2 | 0 |
Proceeds from disposal of tangible assets | 3 | 10 | 3 |
Other investments acquired | (9) | (13) | (8) |
Proceeds from disposal of other investments | 3 | 7 | 3 |
Investments in associates and joint ventures | (5) | (8) | (27) |
Loans advanced to associates and joint ventures | (3) | (5) | (6) |
Loans repaid by associates and joint ventures | 23 | 22 | 0 |
Decrease (increase) in cash restricted for use | 0 | (6) | (8) |
Interest received | 14 | 5 | 7 |
Net cash inflow (outflow) from investing activities from continuing operations | (683) | (561) | (711) |
Net cash inflow (outflow) from investing activities from discontinued operations | (54) | 226 | (151) |
Cash in subsidiaries sold and transferred to held for sale | (6) | 0 | 0 |
Net cash inflow (outflow) from investing activities | (743) | (335) | (862) |
Cash flows from financing activities | |||
Proceeds from borrowings | 168 | 753 | 815 |
Repayment of borrowings | (123) | (967) | (767) |
Repayment of lease liabilities | (42) | ||
Finance costs - borrowings | (128) | (130) | (138) |
Finance costs - leases | (9) | ||
Bond settlement premium, RCF and bond transaction costs | 0 | (10) | 0 |
Dividends paid | (43) | (39) | (58) |
Net cash inflow (outflow) from financing activities from continuing operations | (177) | (393) | (148) |
Net cash inflow (outflow) from financing activities from discontinued operations | 0 | 0 | 0 |
Net cash inflow (outflow) from financing activities | (177) | (393) | (148) |
Net increase (decrease) in cash and cash equivalents | 127 | 129 | (13) |
Translation | 0 | (5) | 3 |
Cash and cash equivalents at beginning of year | 329 | 205 | 215 |
Cash and cash equivalents at end of year | 456 | 329 | 205 |
Project capital | |||
Cash flows from investing activities | |||
Capital expenditure | (336) | (170) | (132) |
Stay-in-business capital | |||
Cash flows from investing activities | |||
Capital expenditure | $ (367) | $ (405) | $ (543) |
Statement of Changes in Equity
Statement of Changes in Equity Statement - USD ($) $ in Millions | Total | Share capital and premium | Other capital reserves | [1] | Retained earnings (Accumulated losses) | [2] | Fair value through OCI | Available- for-sale reserve | Actuarial gains (losses) | Foreign currency translation reserve | Total | Non-controlling interests |
Equity at Dec. 31, 2016 | $ 2,754 | $ 7,108 | $ 116 | $ (3,119) | $ 17 | $ (21) | $ (1,386) | $ 2,715 | $ 39 | |||
Profit (loss) for the year | (171) | (191) | (191) | 20 | ||||||||
Other comprehensive income (loss) | 154 | 25 | 6 | 123 | 154 | |||||||
Total comprehensive income (loss) for the year, net of tax | (17) | (191) | 25 | 6 | 123 | (37) | 20 | |||||
Shares issued | 26 | 26 | 26 | |||||||||
Share-based payment for share awards net of exercised | (1) | (1) | (1) | |||||||||
Dividends paid (note 14) | (39) | (39) | (39) | |||||||||
Dividends of subsidiaries | (19) | 0 | (19) | |||||||||
Translation | 0 | 9 | (10) | 1 | (1) | (1) | 1 | |||||
Equity at Dec. 31, 2017 | 2,704 | 7,134 | 124 | (3,359) | $ 43 | (16) | (1,263) | 2,663 | 41 | |||
Profit (loss) for the year | 150 | 133 | 133 | 17 | ||||||||
Other comprehensive income (loss) | (141) | $ 5 | 4 | (150) | (141) | |||||||
Total comprehensive income (loss) for the year, net of tax | 9 | 133 | 5 | 4 | (150) | (8) | 17 | |||||
Shares issued | 37 | 37 | 37 | |||||||||
Share-based payment for share awards net of exercised | (17) | (17) | (17) | |||||||||
Dividends paid (note 14) | (24) | (24) | (24) | |||||||||
Dividends of subsidiaries | (15) | 0 | (15) | |||||||||
Transfer of gain on disposal of equity investments | 0 | 1 | (1) | |||||||||
Translation | 0 | (11) | 12 | 0 | 1 | (1) | ||||||
Equity at Dec. 31, 2018 | 2,694 | 7,171 | 96 | (3,227) | 37 | (12) | (1,413) | 2,652 | 42 | |||
Profit (loss) for the year | (7) | (12) | (12) | 5 | ||||||||
Other comprehensive income (loss) | 14 | 8 | 2 | 4 | 14 | |||||||
Total comprehensive income (loss) for the year, net of tax | 7 | (12) | 8 | 2 | 4 | 2 | 5 | |||||
Shares issued | 28 | 28 | 28 | |||||||||
Share-based payment for share awards net of exercised | (10) | (10) | (10) | |||||||||
Dividends paid (note 14) | (27) | (27) | (27) | |||||||||
Dividends of subsidiaries | (16) | 0 | (16) | |||||||||
Transactions with non-controlling interests | 0 | (4) | (4) | 4 | ||||||||
Translation | 0 | 1 | (2) | (1) | 1 | |||||||
Equity at Dec. 31, 2019 | $ 2,676 | $ 7,199 | $ 83 | $ (3,268) | $ 45 | $ (10) | $ (1,409) | $ 2,640 | $ 36 | |||
[1] | Other capital reserves include a surplus on disposal of company shares held by companies prior to the formation of AngloGold Ashanti Limited of $10m (2018: $10m; 2017: $11m), surplus on equity transaction of joint venture of $36m (2018: $36m; 2017: $36m), equity items for share-based payments of $39m (2018: $48m; 2017: $75m) and other reserves. | |||||||||||
[2] | Included in accumulated losses are retained earnings totalling $378m (2018: $283m; 2017: $287m) arising at the equity accounted investments and certain subsidiaries which may not be remitted without third party consent. |
Statement of Changes in Equit_2
Statement of Changes in Equity (Parenthetical) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Equity | $ 2,676 | $ 2,694 | $ 2,704 | |
Revaluation surplus on disposal of prior company shares | ||||
Equity | 10 | 10 | 11 | |
Surplus on equity transaction of joint venture | ||||
Equity | 36 | 36 | 36 | |
Equity items for share-based payments | ||||
Equity | 39 | 48 | 75 | |
Retained earnings (Accumulated losses) | ||||
Equity | [1] | (3,268) | (3,227) | (3,359) |
Retained earnings | $ 378 | $ 283 | $ 287 | |
[1] | Included in accumulated losses are retained earnings totalling $378m (2018: $283m; 2017: $287m) arising at the equity accounted investments and certain subsidiaries which may not be remitted without third party consent. |
Accounting Policies
Accounting Policies | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of significant accounting policies [Abstract] | |
Accounting Policies | ACCOUNTING POLICIES Statement of compliance The consolidated and company financial statements are prepared in compliance with International Financial Reporting Standards (IFRS) and Interpretations of those standards, as issued by the International Accounting Standards Board (IASB), Financial Reporting Pronouncements as issued by Financial Reporting Standards Council, JSE Listings Requirements and in the manner required by the South African Companies Act, 2008. New standards and interpretations issued The financial statements have been drawn up on the basis of accounting standards, interpretations and amendments effective at the beginning of the accounting period on 1 January 2019. The adoption of the new standards, interpretations and amendments effective from 1 January 2019 had the following impact on the group: IFRS 16 Leases The group elected to apply IFRS 16 utilising the modified retrospective approach, no cumulative effect of initially applying IFRS 16 was identified and recognised as an adjustment to the opening balance of retained earnings. The cumulative impact on the adoption of IFRS 16 resulted in the recognition of right of use assets, lease liabilities and the resultant deferred tax. Refer to Note 16 for the detail on the right of use assets and lease liabilities. Comparative information has not been restated. For contracts previously classified as leases under IAS 17 Leases, the group has reassessed whether the contract is or contains a lease upon initial transition to the new standard and has also performed an assessment to identify significant contracts which have not previously classified as leases, but which may be a lease under the new standard. The group applied the following practical expedients upon transition to IFRS 16: Transition options: • Leases with a remaining contract period of less than 12 months will not be recorded on the statement of financial position and the lease payments will be expensed in the income statement on a straight-line basis. • The right-of-use asset is based on the lease liability recognised. Practical expedients: • The short-term lease exemption - leases with a duration of one year or less will be expensed in the income statement on a straight-line basis. • The low value lease exemption - the group has elected to take the low value exemption with a value of $10k for the individual leased asset value. Further, the group has added an exception within its accounting policy to not capitalise leases with a net present value of $250 k based on an IAS 1 materiality assessment. • Exclusion of initial direct costs for the measurement of the right of use asset at the date of initial application. • Use of hindsight in determining the lease term where the contract contains options to extend or terminate the lease. The leases accounting policy applicable from 1 January 2019 is included under “Leases” in Annexure A. CHANGE IN DISCLOSURE Effective 1 January 2019, the group changed the disclosure of “Special Items” in the income statement. In prior years, the group disclosed items that due to their size and/or nature, required separate disclosure on the face of the income statement as Special Items. In addition, a disclosure category, “Other operating expenses”, was reported to disclose expenses which were not included in gross profit. Going forward these two categories of expenses and income will be disclosed as: • Other expenses (income); and • Separate line item(s) on the face of the income statement depending on materiality. The re-presentation provides more useful information by reporting material items separately. The change in presentation has no impact on the reported totals, headline earnings per share or on amounts presented in the Statement of Financial Position. As a result of the change, reclassifications in the income statement are as follows: Income statement extract (1) 2018 2018 2017 2017 Previously reported Reclassified Previously reported Reclassified US dollar million Gross profit (loss) 772 772 784 784 Corporate administration, marketing and other expenses (76 ) (76 ) (64 ) (64 ) Exploration and evaluation costs (102 ) (102 ) (114 ) (114 ) Impairment, derecognition of assets and profit (loss) on disposal n/a (124 ) n/a (293 ) Other expenses (income) (97 ) (143 ) (88 ) (233 ) Special items (170 ) n/a (438 ) n/a Operating profit (loss) 327 327 80 80 (1) Represents reclassification prior to the disclosure of Discontinued operations. The significant accounting principles applied in the presentation of the group annual financial statements are set out below. BASIS OF PREPARATION The financial statements are prepared according to the historical cost convention, except for the revaluation of certain financial instruments to fair value. The group’s accounting policies as set out below are consistent in all material respects with those applied in the previous year except for the changes arising from the adoption of IFRS 16 as described in “New Standards and Interpretations Issued” above. The comparative periods have been restated to separate continuing operations from discontinued operations in accordance with IFRS 5 Non-current Assets Held for Sale and Discontinued Operations, as a consequence of the classification of the sale of the South African producing assets and related liabilities as a discontinued operation. The sale agreement was announced on 12 February 2020. The group financial statements are presented in US dollars. Based on materiality, certain comparatives in the notes have been aggregated and comparatives have been restated to accord with current year disclosures. All notes are from continuing operations unless otherwise stated. The group financial statements incorporate the financial statements of the company, its subsidiaries and its interests in joint ventures and associates. The financial statements of all material subsidiaries, the Environmental Rehabilitation Trust Fund, joint ventures and associates, are prepared for the same reporting period as the holding company, using the same accounting policies. Subsidiaries are all entities over which the group has control. The group controls an entity when it is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. Control would generally exist where the group owns more than 50% of the voting rights, unless the group and other investors collectively control the entity where they must act together to direct the relevant activities. In such cases, as no investor individually controls the entity, the investment is accounted for as an associate, joint venture or a joint operation. Subsidiaries are fully consolidated from the date on which control is transferred to the group. They are deconsolidated from the date on which control ceases. The group re-assesses whether or not it controls an investee if facts and circumstances indicate that there are changes to one or more of the three elements of control. Intra-group transactions, balances and unrealised gains and losses on transactions between group companies, including any resulting tax effects are eliminated. SIGNIFICANT ACCOUNTING JUDGEMENTS AND ESTIMATES Use of estimates The preparation of the financial statements requires the group’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. The determination of estimates requires the exercise of judgement based on various assumptions and other factors such as historical experience, current and expected economic conditions, and in some cases actuarial techniques. Actual results could differ from those estimates. The more significant areas requiring the use of management estimates and assumptions relate to Ore Reserve which is the basis of future cash flow estimates and unit-of-production depreciation, depletion and amortisation calculations; environmental, reclamation and closure obligations; asset impairments/reversals (including impairments of goodwill); recoverability of indirect taxes; and write-downs of inventory to net realisable value. Other estimates include employee benefit liabilities and unrecognised tax positions. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The judgements that management has applied in the application of accounting policies, and the estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year, are discussed below. Carrying value of tangible assets Amortisation The majority of mining assets are amortised using the units-of-production method where the mine operating plan calls for production from a well-defined proved and probable Ore Reserve. For other tangible assets, the straight-line method is applied over the estimated useful life of the asset which does not exceed the estimated mine life based on proved and probable Ore Reserve as the useful lives of these assets are considered to be limited to the life of the relevant mine. The calculation of the units-of-production rate of amortisation could be impacted to the extent that actual production in the future is different from current forecast production based on proved and probable Ore Reserve. This would generally arise from the following factors: • changes in proved and probable Ore Reserve; • variations in the grade of Ore Reserve, which may be significant from time to time; • differences between actual commodity prices and commodity price assumptions; • unforeseen operational issues at mine sites; and • changes in capital, operating, mining, processing and reclamation costs, discount rates and foreign exchange rates. Changes in proved and probable Ore Reserve could similarly impact the useful lives of assets amortised on the straight-line method, where those lives are limited to the life of the mine. Stripping costs The group has a number of surface mining operations that are in the production phase for which production stripping costs are incurred. The benefits that accrue to the group as a result of incurring production stripping costs include (a) ore that can be used to produce inventory and (b) improved access to further quantities of material that will be mined in future periods. The production stripping costs relating to improved access to further quantities of material in future periods are capitalised as a stripping activity asset, if and only if, all of the following are met: • It is probable that the future economic benefit (improved access to the orebody) associated with the stripping activity will flow to the group; • The group can identify the component of the orebody for which access has been improved; and • The costs relating to the stripping activity associated with that component or components can be measured reliably. Components of the various orebodies at the operations of the group are determined based on the geological areas identified for each of the orebodies and are reflected in the Ore Reserve reporting of the group. In determining whether any production stripping costs should be capitalised as a stripping activity asset, the group uses three operational guidance measures; two of which relate to production measures, while the third relates to an average stripping ratio measure. Once determined that any portion of the production stripping costs should be capitalised, the group determines the amount of the production stripping costs that should be capitalised with reference to the average mine costs per tonne of the component and the actual waste tonnes that should be deferred. Stripping activity assets are amortised on the units-of-production method based on the Ore Reserve of the component or components of the orebody to which these assets relate. This accounting treatment is consistent with that for stripping costs incurred during the development phase of a pit, before production commences, except that stripping costs incurred during the development phase of a pit, before production commences, are amortised on the units-of-production method based on the Ore Reserve of the pit. Deferred stripping costs are included in ‘Mine development costs’, within tangible assets. These costs form part of the total investment in the relevant cash-generating unit, which is reviewed for impairment if events or a change in circumstances indicate that the carrying value may not be recoverable. Amortisation of stripping activity assets is included in operating costs. Impairment The group reviews and tests the carrying value of tangible assets when events or changes in circumstances indicate that the carrying amount may not be recoverable. Assets are grouped at the lowest level for which identifiable cash flows are largely independent of cash flows of other assets, which is generally at the individual mine level. If there are indications that impairment may have occurred, estimates are prepared of expected future cash flows for each group of assets. Expected future cash flows used to determine the value in use of goodwill and tangible assets are inherently uncertain and could materially change over time and impact the recoverable amounts. The cash flows and value in use are significantly affected by a number of factors including published reserves, resources, exploration potential and production estimates, together with economic factors such as spot and future metal prices, discount rates, foreign currency exchange rates, estimates of costs to produce reserves and future capital expenditure. At the reporting date the group assesses whether any of the indicators which gave rise to previously recognised impairments have changed such that the impairment loss no longer exists or may have decreased. The impairment loss is then assessed on the original factors for reversal and if indicated, such reversal is recognised. An impairment loss is recognised for the amount by which the asset’s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset’s fair value less costs to sell and value in use. The recoverable amount is estimated based on the positive indicators. If an impairment loss has decreased, the carrying amount is recorded at the recoverable amount as limited in terms of IAS 36 Impairment of Assets . The carrying value of tangible assets at 31 December 2019 was $2,592m ( 2018 : $3,381m ; 2017 : $3,742m ). The impairment and derecognition of tangible assets recognised in the consolidated financial statements for the year ended 31 December 2019 (including impairment of tangible assets transferred to held for sale) was $505m ( 2018 : $104m ; 2017 : $288m ). Carrying value of goodwill and intangible assets Where an investment in a subsidiary, joint venture or an associate is made, any excess of the consideration transferred over the fair value of the attributable Mineral Resource including value beyond proved and probable Ore Reserve, exploration properties and net assets is recognised as goodwill. Intangible assets that have an indefinite useful life and separately recognised goodwill are not subject to amortisation and are tested annually for impairment and whenever events or changes in circumstance indicate that the carrying amount may not be recoverable. Assets that are subject to amortisation are tested for impairment whenever events or changes in circumstance indicate that the carrying amount may not be recoverable. An impairment loss is recognised for the amount by which the asset’s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset’s fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (cash-generating units). An individual operating mine is not a typical going-concern business because of the finite life of its reserves. The allocation of goodwill to an individual mine will result in an eventual goodwill impairment due to the wasting nature of the mine reporting unit. In accordance with the provisions of IAS 36, the group performs its annual impairment review of assigned goodwill during the fourth quarter of each year. The carrying value of goodwill in the consolidated financial statements at 31 December 2019 was $116m ( 2018 : $116m ; 2017 : $127m ). The impairment of goodwill recognised in the consolidated financial statements for the year ended 31 December 2019 was nil ( 2018 : nil ; 2017 : $ 9 m). Income taxes The group is subject to income taxes in numerous jurisdictions. Significant judgement is required in determining the worldwide provision for income taxes due to the complexity of legislation. There are many transactions and calculations for which the ultimate tax determination is uncertain during the ordinary course of business. The group recognises liabilities for anticipated tax audit issues based on estimates of whether additional taxes will be due. Where the final tax outcome of these matters is different from the amounts that were initially recorded, such differences will impact the income tax and deferred tax provisions in the period in which such determination is made. The group tax reconciliation between tax expense and the product of accounting profit multiplied by the applicable tax rate, prepared in accordance with IAS 12 Income Taxes , applies the South African corporate tax rate of 28 percent. The group recognises the net future tax benefit related to deferred income tax assets to the extent that it is probable that the deductible temporary differences will reverse in the foreseeable future. Assessing the recoverability of deferred income tax assets requires the group to make significant estimates related to expectations of future taxable income. Estimates of future taxable income are based on forecast cash flows from operations and the application of existing tax laws in each jurisdiction. To the extent that future cash flows and taxable income differ significantly from estimates, the ability of the group to realise the net deferred tax assets recorded at the reporting date could be impacted. Additionally, future changes in tax laws in the jurisdictions in which the group operates could limit the ability of the group to obtain tax deductions in future periods. Carrying values of the group at 31 December 2019 : • deferred tax asset: $105m ( 2018 : nil ; 2017 : $4m ); • deferred tax liability: $241m ( 2018 : $315m ; 2017 : $363m ); • taxation liability: $72m ( 2018 : $60m ; 2017 : $53m ); and • taxation asset: $10m ( 2018 : $6m ; 2017 : $3m ), included in trade, other receivables and other assets. Unrecognised value of deferred tax assets: $389m ( 2018 : $501m ; 2017 : $470m ). Provision for environmental rehabilitation obligations The group’s mining and exploration activities are subject to various laws and regulations governing the protection of the environment. The group recognises management’s best estimate for decommissioning and restoration obligations in the period in which they are incurred. Future changes to environmental laws and regulations, life of mine estimates, inflation rates, foreign currency exchange rates and discount rates could affect the carrying amount of this provision. The carrying amount of the rehabilitation obligations (including held for sale rehabilitation obligations) for the group at 31 December 2019 was $730m (2017: $637m ; 2016: $724m ). Stockpiles and metals in process Costs that are incurred in or benefit the production process are accumulated in stockpiles and metals in process values. Net realisable value tests are performed at least annually and represent the estimated future sales price of the product, based on prevailing and long-term metals prices, less estimated costs to complete production and bring the product to sale. Surface and underground stockpiles and metals in process are measured by estimating the number of tonnes added and removed from the stockpile, the number of contained ounces based on assay data, and the estimated recovery percentage based on the expected processing method. Stockpile ore tonnages are verified by periodic surveys. Although the quantities of recoverable metal are reconciled by comparing the grades of ore to the quantities of metals actually recovered (metallurgical balancing), the nature of the process inherently limits the ability to precisely monitor recoverability levels. As a result, the metallurgical balancing process is constantly monitored and engineering estimates are refined based on actual results over time. Variations between actual and estimated quantities resulting from changes in assumptions and estimates that do not result in write-downs to net realisable value are accounted for on a prospective basis. The carrying value of inventories (excluding finished goods and mine operating supplies) for the group at 31 December 2019 was $377m ( 2018 : $404m ; 2017 : $424m ). Recoverable tax, rebates, levies and duties In a number of countries, particularly in Continental Africa, AngloGold Ashanti is due refunds of indirect tax which remain outstanding for periods longer than those provided for in the respective statutes. In addition, AngloGold Ashanti has unresolved non-income tax disputes in a number of countries, particularly in Continental Africa and in Brazil and Argentina. If the outstanding input taxes are not received and these disputes are not resolved in a manner favourable to AngloGold Ashanti, it could have a material adverse effect upon the carrying value of these assets and our results of operations. The net carrying value of recoverable tax, rebates, levies and duties for the group at 31 December 2019 was $227m ( 2018 : $194m ; 2017 : $174m ). Post-retirement obligations The determination of AngloGold Ashanti’s obligations and expense for post-retirement liabilities depends on the selection of certain assumptions used by actuaries to calculate amounts. These assumptions include, among others, the discount rate, the expected long-term rate of return of plan assets, health care inflation costs, rates of increase in compensation costs and the number of employees who reach retirement age before the mine reaches the end of its life. While AngloGold Ashanti believes that these assumptions are appropriate, significant changes in the assumptions may materially affect post-retirement obligations as well as future expenses, which may result in an impact on earnings in the periods that the changes in these assumptions occur. The carrying value of the post-retirement obligations at 31 December 2019 was $100m ( 2018 : $100m ; 2017 : $122m ). Ore Reserve estimates An Ore Reserve estimate is an estimate of the amount of product that can be economically and legally extracted from the group’s properties. In order to calculate the Ore Reserve, estimates and assumptions are required about a range of geological, technical and economic factors, including quantities, grades, production techniques, recovery rates, production costs, transport costs, commodity demand, commodity prices and exchange rates. Estimating the quantity and/or grade of the Ore Reserve requires the size, shape and depth of orebodies to be determined by analysing geological data such as the logging and assaying of drill samples. This process may require complex and difficult geological judgements and calculations to interpret the data. The group is required to determine and report its Ore Reserve in accordance with the minimum standards described by the South African Code for the reporting of Exploration Results, Mineral Resources and Mineral Reserves (The SAMREC Code, 2016 Edition). Because the economic assumptions used to estimate changes in the Ore Reserve from period to period, and because additional geological data is generated during the course of operations, estimates of the Ore Reserve may change from period to period. Changes in the reported Ore Reserve may affect the group’s financial results and financial position in a number of ways, including the following: • asset carrying values may be affected due to changes in estimated future cash flows; • depreciation, depletion and amortisation charged in the income statement may change where such charges are determined by the units-of-production method, or where the useful economic lives of assets change; • overburden removal costs, including production stripping activities, recorded on the statement of financial position or charged in the income statement may change due to changes in stripping ratios or the units-of-production method of depreciation; • decommissioning site restoration and environmental provisions may change where changes in the estimated Ore Reserve affect expectations about the timing or cost of these activities; and • the carrying value of deferred tax assets may change due to changes in estimates of the likely recovery of the tax benefits. Development expenditure Development activities commence after project sanctioning by the appropriate level of management. Judgement is applied by management in determining when a project has reached a stage at which economically recoverable reserves exist such that development may be sanctioned. In exercising this judgement, management is required to make certain estimates and assumptions similar to those described in the accounting policy for exploration and evaluation assets. Any such estimates and assumptions may change as new information becomes available. If, after having started the development activity, a judgement is made that a development asset is impaired, the appropriate amount will be written off to the income statement. Provision for silicosis Significant judgement is applied in estimating the costs that will be incurred to settle the silicosis class action claims and related expenditure. The final costs may differ from current cost estimates. The provision is based on actuarial assumptions including: • silicosis prevalence rates; • estimated settlement per claimant; • benefit take-up rates; • disease progression rates; • timing of cashflows; and • discount rate. Management believes the assumptions are appropriate, however changes in the assumptions may materially affect the provision and final costs of settlement. The carrying value of the silicosis provision at 31 December 2019 was $65m ( 2018 : $63m ; 2017 : $63m ). Identification and classification of discontinued operations During 2019, the decision to sell the remaining South African operations was made. Judgement was applied regarding classification of the disposal group as held for sale at year end, and whether the disposal group should be classified as a discontinued operation. The South African asset sale was assessed as a major geographical area of operations and part of a single co-ordinated plan to dispose of a major geographical area of operations and accordingly, it was classified as a discontinued operation. The sale was announced on 12 February 2020. Contingencies By their nature, contingencies will only be resolved when one or more future events occur or fail to occur. The assessment of such contingencies inherently involves the exercise of significant judgement and estimates of the outcome of future events. Such contingencies include, but are not limited to environmental obligations, litigation, regulatory proceedings, tax matters and losses resulting from other events and developments. When a loss is considered probable and reasonably estimable, a liability is recorded in the amount of the best estimate for the ultimate loss. The likelihood of a loss with respect to a contingency can be difficult to predict and determining a meaningful estimate of the loss or a range of loss may not always be practicable based on the information available at the time and the potential effect of future events and decisions by third parties that will determine the ultimate resolution of the contingency. It is not uncommon for such matters to be resolved over many years, during which time relevant developments and new information is continuously evaluated to determine both the likelihood of any potential loss and whether it is possible to reasonably estimate a range of possible losses. When a loss is probable but a reasonable estimate cannot be made, disclosure is provided. In determining the threshold for disclosure on a qualitative and quantitative basis, management considers the potential for a disruptive effect on the normal functioning of the group and/or whether the contingency could impact investment decisions. Such qualitative matters considered are reputational risks, regulatory compliance issues and reasonable investor considerations. For quantitative purposes, amateriality threshold of $18m has been applied. As a global company, the group is exposed to numerous legal risks. The outcome of currently pending and future proceedings cannot be predicted with certainty. Litigation and other judicial proceedings as a rule raise difficult and complex legal issues and are subject to uncertainties and complexities including, but not limited to, the facts and circumstances of each particular case, issues regarding the jurisdiction in which each suit is brought and differences in applicable law. Upon resolution of any pending legal matter, the group may be forced to incur charges in excess of the presently established provisions and related insurance coverage. It is possible that the financial position, results of operations or cash flows of the group could be materially affected by the unfavourable outcome of litigation. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Equity-accounted investments Joint ventures A joint venture is an entity in which the group holds a long-term interest and which the group and one or more other ventures jointly control under a contractual arrangement, that provides for strategic, financial and operating policy decisions relating to the activities requiring unanimous consent of the parties sharing control. The group’s interests in joint arrangements classified as joint ventures are accounted for using the equity method. Profits and losses realised in connection with transactions between the group and joint ventures are eliminated in proportion to share ownership. Such profits and losses are deducted from the group’s equity and related statement of financial position amount and released in the group accounts when the assets are effectively realised outside the group. Dividends received from joint ventures are included in operating activities in the cash flow statement. Associates The equity method of accounting is used for investments over which the group exercises significant influence and normally owns between 20% and 50% of the voting equity. Associates are equity-accounted from the effective date of acquisition to the effective date of disposal. Profits and losses realised in connection with transactions between the group and associated companies are eliminated in proportion to share ownership. Such profits and losses are deducted from the group’s equity and related statement of financial position amount and released in the group accounts when the assets are effectively realised outside the group. Dividends received from associates are included in investing activities in the cash flow statement. Joint ventures and associates If necessary, impairment losses on loans and equity are reported under share of joint ventures and associates profit and loss. Any losses of equity-accounted investments are accounted for in the consolidated financial statements until the investment in such investments is written down to zero. Thereafter, losses are accounted for only insofar as the group is committed to providing financial support to such investees. The carrying value of equity-accounted investments represents the cost of each investment, including goodwill, balance outstanding on loans advanced if the loan forms part of the net investment in the investee, any impairment losses recognised, the share of post-acquisition retained earnings and losses, and any other movements in reserves. The carrying value of equity-accounted investments is reviewed when indicators arise and if any impairment in value has occurred; it is recognised in the period in which the impairment arose. In d |
Segmental Information
Segmental Information | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of entity's operating segments [Abstract] | |
Segmental Information | SEGMENTAL INFORMATION AngloGold Ashanti Limited’s operating segments are reported based on the financial information provided to the Chief Executive Officer and the Executive Committee, collectively identified as the Chief Operating Decision Maker (CODM). The group produces gold as its primary product and does not have distinct divisional segments in terms of principal business activity, but manages its business on the basis of different geographic segments (including equity accounted investments). Individual members of the Executive Committee are responsible for geographic regions of the business. Group analysis by origin is as follows: Figures in millions Gold income US Dollars 2019 2018 2017 Geographical analysis of gold income by origin is as follows: Continental Africa (1) 2,203 1,983 1,895 Australia 851 780 709 Americas 1,000 1,021 1,104 4,054 3,784 3,708 Equity-accounted investments included above (615 ) (581 ) (453 ) Continuing operations 3,439 3,203 3,255 Discontinued operations - South Africa 554 602 1,101 3,993 3,805 4,356 Foreign countries included in the above and considered material are: Australia 851 780 709 Argentina 387 399 Brazil 679 634 705 Guinea 489 Tanzania 849 715 664 DRC 504 468 Geographical analysis of gold income by destination is as follows: South Africa 981 946 946 North America 486 450 456 Australia 851 780 709 Europe 329 387 399 United Kingdom 1,407 1,221 1,198 4,054 3,784 3,708 Equity-accounted investments included above (615 ) (581 ) (453 ) 3,439 3,203 3,255 Discontinued operations - South Africa 554 602 1,101 Continuing and discontinued operations 3,993 3,805 4,356 Figures in millions By product revenue US Dollars 2019 2018 2017 Continental Africa (1) 3 4 3 Australia 3 2 2 Americas 81 128 135 87 134 140 Equity-accounted investments included above (1 ) (1 ) (1 ) Continuing operations 86 133 139 Discontinued operations - South Africa 1 6 15 87 139 154 The Group's revenue is mainly derived from gold income. Approximately 34% of the group's total gold produced is sold to two customers of the group. Due to the diversity and depth of the total gold market, the bullion banks do not possess significant pricing power. Figures in millions Gross profit (loss) (2) US Dollars 2019 2018 2017 Continental Africa (1) 605 380 386 Australia 221 160 159 Americas (1) 265 310 253 Corporate and other 1 2 2 1,092 852 800 Equity-accounted investments included above (188 ) (102 ) (13 ) Continuing operations 904 750 787 Discontinued operations - South Africa 79 22 (3 ) 983 772 784 Figures in millions Cost of sales US Dollars 2019 2018 2017 Continental Africa (1) 1,601 1,607 1,513 Australia 632 622 551 Americas (1) 822 838 987 Corporate and other (1 ) (3 ) (3 ) 3,054 3,064 3,048 Equity-accounted investments included above (428 ) (480 ) (441 ) Continuing operations 2,626 2,584 2,607 Discontinued operations - South Africa 479 589 1,129 3,105 3,173 3,736 Figures in millions Amortisation US Dollars 2019 2018 2017 Continental Africa (1) 367 379 421 Australia 173 149 130 Americas (1) 177 192 273 Corporate and other 3 3 2 720 723 826 Equity-accounted investments included above (137 ) (165 ) (136 ) Continuing operations 583 558 690 Discontinued operations - South Africa 61 72 133 644 630 823 Figures in millions Total assets (1)(3)(4) US Dollars 2019 2018 2017 South Africa 697 1,106 1,734 Continental Africa 3,514 3,135 3,153 Australia 972 888 929 Americas 1,427 1,286 1,258 Corporate and other 253 228 145 6,863 6,643 7,219 Figures in millions Non-current assets (5) US Dollars 2019 2018 2017 Non-current assets considered material, by country are: South Africa 25 1,005 1,295 Foreign entities 4,644 4,234 4,259 DRC 1,506 1,439 1,423 Ghana 758 550 533 Tanzania 379 369 422 Australia 817 718 764 Brazil 625 615 632 Figures in millions Capital expenditure US Dollars 2019 2018 2017 Continental Africa (1) 410 313 409 Australia 149 156 153 Americas (1) 195 176 234 Corporate and other — — 2 Continuing operations 754 645 798 Discontinued operations - South Africa 60 76 155 814 721 953 Equity-accounted investments (51 ) (69 ) (123 ) 763 652 830 (1) Includes equity-accounted investments. (2) The group's segmental profit measure is gross profit (loss), which excludes the results of associates and joint ventures. For the reconciliation of gross profit (loss) to profit before taxation, refer to the group income statement. (3) Total assets include allocated goodwill of $108m ( 2018 : $108m ; 2017 : $119m ) for Australia and $8m ( 2018 : $8m ; 2017 : $8m ) for Americas (note 17). The South African segment includes assets held for sale of $581m ( 2018 : nil ; 2017 : $348m ) and the Continental Africa segment includes assets held for sale of $20m (2018: nil ; 2017: nil ). (4) In 2019, pre-tax impairments and derecognition of assets of $556m were accounted for in South Africa ( 2018 : $98m ; 2017 : $294m ), Continental Africa $2m ( 2018 : $5m ; 2017 : nil ) and the Americas $1m ( 2018 : $1m ; 2017 : nil ). (5) Non-current assets exclude financial instruments and deferred tax assets. |
Revenue from Product Sales
Revenue from Product Sales | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of revenue [Abstract] | |
Revenue from Product Sales | REVENUE FROM PRODUCT SALES US Dollars Figures in millions 2019 2018 2017 Revenue consists of the following principal categories: Gold income (note 2) 3,439 3,203 3,255 By-products (note 2) 86 133 139 Revenue from product sales 3,525 3,336 3,394 |
Cost of Sales
Cost of Sales | 12 Months Ended |
Dec. 31, 2019 | |
Cost of Sales [Abstract] | |
Cost of Sales | COST OF SALES US Dollars Figures in millions 2019 2018 2017 Cash operating costs 1,831 1,850 1,756 Royalties 137 133 111 Other cash costs 13 13 14 Total cash costs 1,981 1,996 1,881 Retrenchment costs 4 4 6 Rehabilitation and other non-cash costs 53 17 16 Amortisation of tangible assets (notes 32 and 36) 538 553 685 Amortisation of right of use assets (1) (notes 32 and 36) 42 — — Amortisation of intangible assets (notes 32 and 36) 3 5 5 Inventory change 5 9 14 2,626 2,584 2,607 (1) Amortisation relating to right of use assets as recognised in accordance with IFRS 16 Leases. |
Corporate Administration, Marke
Corporate Administration, Marketing And Other Costs | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of other operating expenses [Abstract] | |
Corporate Administration, Marketing And Other Costs | CORPORATE ADMINISTRATION, MARKETING AND OTHER COSTS US Dollars Figures in millions 2019 2018 2017 Corporate administration expenses 63 60 52 Share scheme and related costs 19 16 12 82 76 64 |
Other Expense (Income)
Other Expense (Income) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of Other Expense (Income) [Abstract] | |
Other Expense (Income) | OTHER EXPENSE (INCOME) (1) US Dollars Figures in millions 2019 2018 2017 Care and maintenance (note 36) 47 39 62 Governmental fiscal claims, cost of old tailings operations and other expenses 21 14 15 Guinea public infrastructure contribution 8 — — Pension and medical defined benefit provisions 9 10 9 Royalties received (3 ) (10 ) (18 ) Brazilian power utility legal settlement (16 ) — — Retrenchment and related costs 3 6 6 Legal fees and project costs 11 16 74 Other indirect taxes 3 4 2 83 79 150 (1) Change in disclosure from prior years. Refer note 1 for details. |
Finance Costs and Unwinding of
Finance Costs and Unwinding of Obligations | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of finance costs and unwinding of obligations [Abstract] | |
Finance Costs and Unwinding of Obligations | FINANCE COSTS AND UNWINDING OF OBLIGATIONS US Dollars Figures in millions 2019 2018 2017 Finance costs Finance costs on bonds, corporate notes, bank loans and other 135 128 131 Amortisation of fees 4 7 4 Lease finance charges 10 5 6 Less: interest captalised (6 ) — — 143 140 141 Unwinding of obligations 29 28 16 Total finance costs and unwinding of obligations (note 32 and 36) 172 168 157 |
Share of Associates and Joint V
Share of Associates and Joint Ventures' Profit (Loss) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of share of associates and joint ventures’ profit (loss) [Abstract] | |
Share of Associates and Joint Ventures' Profit (Loss) | SHARE OF ASSOCIATES AND JOINT VENTURES' PROFIT (LOSS) US Dollars Figures in millions 2019 2018 2017 Revenue 616 582 454 Operating costs and other expenses (452 ) (472 ) (471 ) Net interest received (paid) 10 (8 ) 1 Profit (loss) before taxation 174 102 (16 ) Taxation (35 ) (9 ) 23 Profit (loss) after taxation 139 93 7 Impairment reversal of investments in associates (1) 23 15 13 Impairment reversal of investments in joint ventures (note 19) 6 14 2 Share of associates and joint ventures’ profit (loss) (note 32) 168 122 22 (1) Based on the results and financial position of Rand Refinery (Pty) Limited, an impairment reversal was recognised. |
Discontinued Operations and Ass
Discontinued Operations and Assets and Liabilities Held for Sale | 12 Months Ended |
Dec. 31, 2019 | |
Non-Current Assets Held For Sale And Discontinued Operations [Abstract] | |
Discontinued Operations and Assets and Liabilities Held for Sale | DISCONTINUED OPERATIONS AND ASSETS AND LIABILITIES HELD FOR SALE South African asset sale On 12 February 2020, AngloGold Ashanti announced that it has reached an agreement to sell its remaining South African producing assets and related liabilities to Harmony Gold Mining Company Limited. Consideration for the transaction is in cash and deferred payments with expected proceeds of around $300m subject to subsequent performance, and with additional proceeds if the West Wits assets are developed below current infrastructure. The transaction includes the following assets and liabilities: • The Mponeng mine and its associated assets and liabilities; • The Tau Tona and Savuka mines and associated rock-dump and tailings storage facility reclamation sites, mine rehabilitation and closure activities located in the West Wits region and their associated assets and liabilities; • First Uranium (Pty) Limited which owns Mine Waste Solutions (Pty) Limited and Chemwes (Pty) Limited as well as associated tailings assets and liabilities; • Covalent Water Company (Pty) Limited, AngloGold Security Services (Pty) Limited and Masakhisane Investments (Pty) Limited; and • Certain rock-dump reclamation, mine rehabilitation and closure activities located in the Vaal River region and their associated assets and liabilities. The consideration comprises three elements: • US $200m in cash payable at closing; and • Two components of deferred consideration, payable as follows: 1. US $260 per ounce payable on all underground production sourced within the West Wits mineral rights (comprising the Mponeng, Savuka and Tau Tona mines) in excess of 250,000 ounces per annum for 6 years commencing 1 January 2021; and 2. US $20 per ounce payable on underground production sourced within the West Wits mineral rights (comprising the Mponeng, Savuka and Tau Tona mines) below the datum of current infrastructure. The agreement provides for terms customary in agreements of this nature and is subject to customary conditions precedent. Key conditions precedent include: • Approval from the South African Competition Authorities pursuant to the South African Competition Act No 89 of 1998; and • Section 11 approval from the Minister of Mineral Resources and Energy pursuant to the MPRDA in relation to West Wits Mineral Right. AngloGold Ashanti and Harmony have committed to engage with the relevant authorities and other stakeholders in order to ensure the conditions precedent are fulfilled as soon as possible with earliest closing anticipated on or about 30 June 2020. As at 31 December 2019, AngloGold Ashanti had received offers from potential buyers regarding the sale of the South African assets. The announced transaction on 12 February 2020 resulted in an expected consideration of around $300m which forms the basis for the fair value less costs to sell value of the South Africa disposal group. The non-recurring fair value measurement for the South Africa disposal group is included in level 3 of the fair value hierarchy. The fair value is based on unobservable market offers from potential buyers for the South Africa disposal group. The held for sale assets and liabilities related to the transaction are reported in the South Africa segment. The South African asset sale is treated as a discontinued operation. In terms of the transaction the silicosis obligation of $65m and the post-retirement medical obligation of $93m relating to South African employees are retained by AngloGold Ashanti. Sale interest in the Sadiola Mine On 23 December 2019, AngloGold Ashanti announced that it together with its joint venture partner, IAMGOLD Corporation (IAMGOLD), had agreed to sell their interests in Société d’Exploitation des Mines d’Or de Sadiola S.A. (Sadiola) to Allied Gold Corp (Allied Gold). Sadiola's principal asset is the Sadiola Mine located in the Kayes region of Western Mali. AngloGold Ashanti and IAMGOLD each hold a 41% interest in Sadiola with the remaining 18% interest held by the Government of Mali. 9 DISCONTINUED OPERATIONS AND ASSETS AND LIABILITIES HELD FOR SALE (continued) In terms of the agreement, AngloGold Ashanti and IAMGOLD will sell their collective interests in Sadiola to Allied Gold for a cash consideration of US $105m , payable as follows: • US $50m (US $25m each to AngloGold Ashanti and IAMGOLD) upon the fulfillment or waiver of all conditions precedent and closing of the transaction; • Up to a further US $5m (US $2.5m each to AngloGold Ashanti and IAMGOLD), payable 8 days after closing, to the extent that the cash balance of Sadiola at closing is greater than an agreed amount; • US $25m (US $12.5m each to AngloGold Ashanti and IAMGOLD) upon the production of the first 250,000 ounces from the Sadiola Sulphides Project (SSP); and • US $25m (US $12.5m each to AngloGold Ashanti and IAMGOLD) upon the production of a further 250,000 ounces from the SSP. The transaction is subject to the fulfillment, or waiver, of a number of conditions precedent, including the receipt of certain approvals and releases from the Government of Mali. AngloGold Ashanti received approval from the South African Reserve Bank in early 2020. It is anticipated that all conditions precedent will be fulfilled or waived by the end of April 2020. This transaction offer represents the most significant unobservable input in determining the non-recurring fair value measurement of the Sadiola investment; accordingly, the fair value is included in level 3 of the fair value hierarchy. The carrying value of the Sadiola held for sale asset of $20m (which is lower than fair value less costs to sell) is included in the Continental Africa segment; it was previously disclosed as an investment in joint venture on the Statement of Financial Position. Discontinued operations The results of the South Africa disposal group for the year ended 31 December 2019 are presented below: US Dollars Figures in millions 2019 2018 2017 Revenue from product sales 555 608 1,116 Cost of sales (479 ) (589 ) (1,129 ) Gain (loss) on non-hedge derivatives and other commodity contracts 3 3 10 Gross profit (loss) 79 22 (3 ) Other expenses (44 ) (72 ) (97 ) Derecognition of assets, impairments and profit on disposal of assets (3 ) (118 ) (256 ) Impairment loss recognised on remeasurement to fair value less costs to sell (549 ) — (35 ) Profit (loss) before taxation (517 ) (168 ) (391 ) Normal taxation (23 ) 38 (14 ) Deferred tax on impairment loss, derecognition and profit on disposal of assets 164 47 69 Profit (loss) from discontinued operations (376 ) (83 ) (336 ) 9 DISCONTINUED OPERATIONS AND ASSETS AND LIABILITIES HELD FOR SALE (continued) The major classes of assets and liabilities of the South African disposal group as at 31 December 2019, are as follows: US Dollars Figures in millions 2019 Tangible assets and right of use assets 429 Other investments 84 Inventories 37 Trade, other receivables and other assets 4 Deferred taxation 15 Cash and cash restricted for use 12 Assets held for sale 581 Lease liabilities 3 Environmental rehabilitation and other provisions 211 Trade and other payables 58 Liabilities held for sale 272 Net assets held for sale 309 Total assets held for sale include: Sadiola 20 South Africa 581 601 The discontinued operations' net cash flows are reflected in the Statement of Cash Flows. Impairment of South African assets Following the classification of the South African disposal group as held for sale, an impairment of $549m (tangible assets of $495m and non-current inventories of $54m ) and taxation on impairment of $164m (i.e. $385m , net of tax) was recognised to reduce the carrying amount of the assets in the disposal group to their fair value less costs to sell. |
Employee Benefits
Employee Benefits | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of employee benefits [Abstract] | |
Employee Benefits | EMPLOYEE BENEFITS US Dollars Figures in millions 2019 2018 2017 Employee benefits including Executive Directors’ and Prescribed Officers’ salaries and other benefits 680 797 1,024 Health care and medical scheme costs - current medical expenses 29 39 58 - defined benefit post-retirement medical expenses 8 9 10 Pension and provident plan costs - defined contribution 29 37 53 Retrenchment costs 7 30 92 Share-based payment expense (note 11) 42 35 33 Included in cost of sales, other expenses (income) and corporate administration, marketing and other expenses of continuing and discontinued operations 795 947 1,270 |
Share-based Payments
Share-based Payments | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of share-based payment arrangements [Abstract] | |
Share-based Payments | SHARE-BASED PAYMENTS US Dollars Figures in millions 2019 2018 2017 Equity-settled share incentive schemes Bonus Share Plan (BSP) 6 20 26 Deferred Share Plan (DSP) 13 — — Other 2 2 — 21 22 26 Cash-settled share incentive scheme Cash-settled Long Term Incentive Plan (CSLTIP) 21 13 7 Total share-based payment expense (note 10) 42 35 33 Equity-settled incentive schemes Equity schemes include the Bonus Share Plan (BSP), Deferred Share Plan (DSP), Long Term Incentive Plan (LTIP) and the Co-Investment Plan (CIP). Bonus Share Plan (BSP) Award date (unvested awards and awards vested during the year) 2019 2018 2017 Calculated fair value R 119.14 R 152.87 Vesting date 50% 22 Feb 2019 1 Mar 2018 Vesting date 50% 22 Feb 2020 1 Mar 2019 Expiry date 22 Feb 2028 1 Mar 2027 Number of shares 2019 2018 2017 Awards outstanding at beginning of year 4,557,919 4,479,679 4,198,285 Awards granted during the year — 2,492,584 1,926,549 Awards lapsed during the year (109,065 ) (359,343 ) (218,601 ) Awards exercised during the year (2,307,439 ) (2,055,001 ) (1,426,554 ) Awards outstanding at end of year 2,141,415 4,557,919 4,479,679 Awards exercisable at end of year 1,207,936 1,588,512 1,904,021 Cash awards granted under the bonus share plan, outstanding at year end 31 December 2019 amount to 12,295 ( 2018 : 33,046 ; 2017 : 23,666 ) and an amount of 20,751 cash awards vested and are deemed settled for the year ended 31 December 2019 ( 2018 : 15,209 , 2017 : 6,754 ) Deferred Share Plan (DSP) The Deferred Share Plan (DSP) was implemented with effect from 1 January 2018, with the first awards for the scheme allocated in March 2019. This represents a single scheme under which share awards will be allocated to certain employees from 2019 onwards, vesting equally over a period of 2 , 3 and 5 years depending on the level of seniority of the participant. Equity-settled incentive schemes (continued) Award date (unvested awards and awards vested during the year) 2019 Calculated fair value R 204.42 DSP 2 year Vesting date 50% 21 Feb 2020 Vesting date 50% 21 Feb 2021 DSP 3 year Vesting date 33% 21 Feb 2020 Vesting date 33% 21 Feb 2021 Vesting date 34% 21 Feb 2022 DSP 5 year Vesting date 20% 21 Feb 2020 Vesting date 20% 21 Feb 2021 Vesting date 20% 21 Feb 2022 Vesting date 20% 21 Feb 2023 Vesting date 20% 21 Feb 2024 Expiry date 21 Feb 2029 Number of shares 2019 Awards outstanding at beginning of year Awards granted during the year 1,669,191 Awards lapsed during the year (55,208 ) Awards exercised during the year (14,623 ) Awards outstanding at end of year 1,599,360 Long Term Incentive Plan (LTIP) Award date (unvested awards and awards vested during the year) 2015 Calculated fair value R 129.94 Vesting date 3 Mar 2018 Expiry date 3 Mar 2025 Number of shares 2019 2018 2017 Awards outstanding at beginning of year 447,842 2,466,357 4,363,330 Awards lapsed during the year — (1,186,330 ) (1,512,857 ) Awards exercised during the year (218,203 ) (832,185 ) (384,116 ) Awards outstanding at end of year 229,639 447,842 2,466,357 Awards exercisable at end of year 229,639 447,842 455,914 Equity-settled incentive schemes (continued) Co-Investment Plan (CIP) Number of shares 2019 2018 2017 Awards outstanding at beginning of year 112,578 95,378 97,651 Awards granted during the year — 80,809 112,105 Awards lapsed during the year (16,500 ) (11,633 ) (62,775 ) Awards matched during the year (72,151 ) (51,976 ) (51,603 ) Awards outstanding at end of year 23,927 112,578 95,378 Cash-Settled Long Term Incentive Plan (CSLTIP) There were no changes to rules or practices within the CSLTIP scheme, and no awards during 2018 and 2019. Award date (unvested awards and awards vested during the year) 2017 2016 Vesting date 1 March 2020 1 March 2019 Number of units 2019 2018 2017 Share units outstanding at beginning of year 3,815,761 4,469,618 2,464,630 Share units granted during the year — — 2,572,437 Share units lapsed during the year (1,305,761 ) (611,265 ) (507,597 ) Share units exercised during the year (1,029,438 ) (42,592 ) (59,852 ) Share units outstanding at end of year 1,480,562 3,815,761 4,469,618 The closing share price at 31 December 2019 is R316.50 ( 2018 : R181.75 ; 2017 : R128.62 ). |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of income tax [Abstract] | |
Taxation | TAXATION Figures in millions US Dollars 2019 2018 2017 South African taxation Normal taxation — — 1 Prior year (over) under provision — (2 ) — Deferred taxation Other temporary differences (18 ) (27 ) (42 ) Change in estimated deferred tax rate (14 ) 7 10 (32 ) (22 ) (31 ) Foreign taxation Normal taxation 299 243 201 Prior year (over) under provision (1 ) 1 (26 ) Deferred taxation Temporary differences (28 ) (6 ) 19 Prior year (over) under provision 1 4 2 Change in estimate 9 (7 ) — Change in statutory tax rate 2 (1 ) (2 ) 282 234 194 250 212 163 Reconciliation to South African statutory rate Figures in millions US Dollars Reconciliation to South African statutory rate 2019 2018 2017 Implied tax charge at 28% 173 125 92 Increase (decrease) due to: Expenses not tax deductible (1) 28 28 25 Share of associates and joint ventures' (profit) loss (47 ) (34 ) (6 ) Tax rate differentials (2) 39 25 29 Exchange variations, translation and accounting adjustments 11 24 6 Current year tax losses not recognised (recognised) in deferred tax assets: Obuasi mine 14 13 18 AngloGold Ashanti Holdings plc (3) 29 36 — North America 6 6 — Tax exempt entities: AngloGold Ashanti Holdings plc (3) — — 31 Other (2 ) (1 ) — Change in planned utilisation of deferred tax assets and impact of estimated deferred tax rate change (5 ) — 10 Tax effect of retained SA items 3 (10 ) (13 ) Tax allowances (1 ) (2 ) (3 ) Impact of statutory tax rate change 2 (1 ) (2 ) Adjustment in respect of prior years — 3 (24 ) Income tax expense 250 212 163 (1) Includes corporate and other costs, transfer pricing and British Virgin Isle group losses. (2) Due to different tax rates in various jurisdictions. (3) During 2018, AngloGold Ashanti Holdings plc changed its tax jurisdiction from the Isle of Man (taxed at 0% in 2017) to the United Kingdom (taxed at 19% in 2018 and 19% in 2019). 12 TAXATION (continued) Figures in millions US Dollars 2019 2018 2017 Analysis of unrecognised deferred tax assets Tax losses available to be utilised against future profits - utilisation required within one year — 48 — - utilisation required between one and two years 85 187 48 - utilisation required between two and five years 356 300 333 - utilisation required between five and twenty years 973 1,229 1,210 - utilisation in excess of twenty years 73 26 1 1,487 1,790 1,592 At the statutory tax rates the unrecognised value of deferred tax assets are: $389m (2018: $501m ; 2017: $470m ), mainly relating to tax losses incurred in the United Kingdom, North America, Ghana and Colombia. Income tax uncertainties AngloGold Ashanti operates in numerous countries around the world and accordingly is subject to, and pays annual income taxes under, the various income tax regimes in the countries in which it operates. Some of these tax regimes are defined by contractual agreements with local government, and others are defined by the general corporate income tax laws of the country. The group has historically filed, and continues to file, all required income tax returns and to pay the taxes reasonably determined to be due. In some jurisdictions, tax authorities are yet to complete their assessments for previous years. The tax rules and regulations in many countries are highly complex and subject to interpretation. From time to time, the group is subject to a review of its historic income tax filings and in connection with such reviews, disputes can arise with the tax authorities over the interpretation or application of certain rules in respect of the group’s business conducted within the country involved. Significant judgement is required in determining the worldwide provisions for income taxes due to the complexity of legislation.There are many transactions and calculations for which the ultimate tax determination is uncertain during the ordinary course of business. The IFRS Interpretations Committee issued IFRIC23, which clarifies how the recognition and measurement requirements of income taxes are applied where there is uncertainty over income tax treatments. IFRIC 23 was adopted by the group on 1 January 2019. Irrespective of whether potential economic outflows of matters have been assessed as probable or possible, individually significant matters are included below, to the extent that disclosure does not prejudice the group. Argentina - Cerro Vanguardia SA The Argentina Tax Authority has challenged the deduction of certain hedge losses, with tax and penalties amounting to $10m ( 2018 : $14m ; 2017 : $27m ). Management has appealed this matter which has been heard by the Tax Court, with final evidence submitted in 2017. The matter is pending and judgement is expected in the next 24 months. Management is of the opinion that the hedge losses were claimed correctly and no provision has therefore been made. Brazil - AGA Mineração and Serra Grande The Brazil Tax Authority has challenged various aspects of the Companies’ tax returns for periods from 2003 to 2016 which individually and in aggregate are not considered to be material. Based on the engagement with the Tax Authority, certain amounts have been allowed and assessments reduced, whilst objections have been lodged against the remainder of the findings. In December 2019, Serra Grande received a tax assessment of approximately $25m relating to the amortisation of goodwill on the acquisition of mining interests, which is permitted as a tax deduction when the acquirer is a domiciled entity. Management is of the opinion that the Tax Authority is unlikely to succeed in this matter. This is supported by external legal advice and therefore no provision has been made. Colombia - La Colosa and Gramalote The tax treatment of exploration expenditure has been investigated by the Colombian Tax Authority which resulted in claims for taxes and penalties of $88m (1) ( 2018 : $144m ; 2017 : $150m ) pertaining to the 2010 to 2014 tax years. These assessments were appealed in 2016 (in the case of La Colosa) and resulted in an adverse judgement on 22 October 2018, in the Administrative Court of Cundinamarca. An appeal was lodged and all arguments submitted to the Council of State on 21 August 2018, with an expected judgement in the next 12 to 18 months. The deduction of exploration costs is prohibited from 2017 onwards following a change in legislation. Subsequent to this date, exploration costs have been treated in accordance with the amended legislation. In July 2019, the Supreme Administrative Court issued a ruling that duplicate penalties may not be charged. The impact of the ruling is that certain penalties will be waived, which reduces the overall exposure by $76m . The matter is pending and may take two to four years to be resolved. Management is of the opinion that the Colombian Tax Authority is unlikely to succeed in this matter and therefore no provision is made. (1) Includes reduction of overall exposure by $76m as described above. Guinea - Siguiri The Guinea Tax Authority has challenged various aspects of the Companies’ tax returns for periods of 2010, and 2014 to 2016 totalling $12m (attr.) ( 2018 : $8m (attr.);2017: $8m (attr.)). Management has objected to these assessments but has provided for a portion of the total claims amounting to $2m (attr.) ( 2018 : $2m (attr.); 2017 : $2m (attr.) 12 TAXATION (continued) Mali - Sadiola, Yatela, Morila The Mali Tax Authority has challenged various aspects of the Companies’ tax returns for periods of 2012 to 2018 totalling $26m (attr.) ( 2018 : $16m (attr.); 2017 : $16m (attr.)). This includes an assessment of $10m (attr.) received in late December 2019. Management has objected to these assessments and is of the opinion that the Tax Authority is unlikely to succeed in this matter and therefore no provision has been made. Tanzania - Geita Gold Mine The Tanzania Revenue Authority has raised audit findings on various tax matters for years from 2009 to 2018 amounting to $164m ( 2018 : $163m ; 2017 : $113m ). Management has objected and appealed through various levels of the legislative processes and has provided for a portion of the total claims amounting to $2m ( 2018 : $2m ; 2017 : $2m ). Management is of the opinion that for the remainder of the claims the Tax Authority is unlikely to succeed and therefore no provision has been made. In addition to the above, it should be noted that amendments passed to legislation in 2017 amended the 2010 Mining Act and new Finance Act. Effective from 1 July 2017, the gold mining royalty rate increased to 6% (from 4%) and further a 1% clearing fee on the value of all minerals exported was imposed. The group has been paying the higher royalty and clearing fees since this date, under protest and is of the view that this is in contravention of its Mining Development Agreement. |
Earnings (Loss) per Ordinary Sh
Earnings (Loss) per Ordinary Share | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of earnings per share [Abstract] | |
Earnings (Loss) per Ordinary Share | EARNINGS (LOSS) PER ORDINARY SHARE 2019 2018 2017 US cents per share Basic earnings (loss) per ordinary share (3 ) 32 (46 ) - Continuing operations 87 52 35 The calculation of basic earnings (loss) per ordinary share is based on profits (losses) attributable to equity shareholders of $364m (2018: $216m; 2017: $145m) and 418,349,777 (2018: 417,122,155; 2017: 415,440,077) shares being the weighted average number of ordinary shares in issue during the financial year. - Discontinued operations (90 ) (20 ) (81 ) The calculation of basic earnings (loss) per ordinary share is based on profits (losses) attributable to equity shareholders of ($376m) (2018: ($83m); 2017: ($336m)) and 418,349,777 (2018: 417,122,155; 2017: 415,440,077) shares being the weighted average number of ordinary shares in issue during the financial year. Diluted earnings (loss) per ordinary share (3 ) 32 (46 ) - Continuing operations 87 52 35 The calculation of diluted earnings (loss) per ordinary share is based on profits (losses) attributable to equity shareholders of $364m (2018: $216m; 2017: $145m)and 418,349,777 (2018: 417,379,405; 2017: 415,440,077) shares being the diluted number of ordinary shares. - Discontinued operations (90 ) (20 ) (81 ) The calculation of diluted earnings (loss) per ordinary share is based on profits (losses) attributable to equity shareholders of ($376m) (2018: ($83m); 2017: ($336m)) and 418,349,777 (2018: 417,379,405; 2017: 415,440,077) shares being the diluted number of ordinary shares. In calculating the basic and diluted number of ordinary shares outstanding for the year, the following were taken into consideration: Number of shares 2019 2018 2017 Ordinary shares 414,407,622 411,412,947 409,265,471 Fully vested options and currently exercisable (1) 3,942,155 5,709,208 6,174,606 Weighted average number of shares 418,349,777 417,122,155 415,440,077 Dilutive potential of share options (2) — 257,250 — Fully diluted number of ordinary shares 418,349,777 417,379,405 415,440,077 (1) Employee compensation awards are included in basic earnings per share from the date that all necessary conditions have been satisfied and it is virtually certain that shares will be issued as a result of employees exercising their options. (2) The number of share options that could potentially dilute basic earnings in the future but were not included as the effect was anti-dilutive were 517,186 ( 2018 : nil ; 2017 : 576,426 ) US Dollars Figures in millions 2019 2018 2017 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 (12 ) 133 (191 ) Net impairment (impairment reversal) and derecognition of assets 559 102 298 Net (profit) loss on disposal of assets (3 ) 32 (8 ) Taxation thereon (165 ) (47 ) (72 ) 379 220 27 13 EARNINGS (LOSS) PER ORDINARY SHARE (continued) 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 $379m (2018: $220m; 2017: $27m) and 418,349,777 (2018: 417,122,155; 2017: 415,440,077) shares being the weighted average number of ordinary shares in issue during the year. 91 53 6 Diluted headline earnings (loss) per share The calculation of diluted headline earnings (loss) per ordinary share is based on diluted headline earnings (losses) of $379m (2018: $220m; 2017: $27m) and 418,349,777 (2018: 417,379,405; 2017: 415,440,077) shares being the weighted average number of ordinary shares in issue during the year. 91 53 6 |
Dividends
Dividends | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of share capital, reserves and other equity interest [Abstract] | |
Dividends | DIVIDENDS US Dollars Figures in million 2019 2018 2017 Ordinary shares Dividend number 118 of 130 SA cents per share was declared on 21 February 2017 and paid on 7 April 2017 (10 US cents per share) 39 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 27 24 39 |
Tangible Assets
Tangible Assets | 12 Months Ended |
Dec. 31, 2019 | |
Property, plant and equipment [abstract] | |
Tangible Assets | TANGIBLE ASSETS 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 US Dollars Cost Balance at 1 January 2017 5,943 4,576 919 5 450 82 11,975 Additions - project capital 28 3 — — 125 — 156 - stay-in-business capital 371 37 — — 257 — 665 Disposals (1 ) (20 ) — — — — (21 ) Transfers and other movements (1) (168 ) (21 ) (27 ) — (291 ) 1 (506 ) Transfer to assets and liabilities held for sale (785 ) (281 ) (7 ) — (72 ) (3 ) (1,148 ) Translation 174 88 7 — 21 3 293 Balance at 31 December 2017 5,562 4,382 892 5 490 83 11,414 Accumulated amortisation and impairments Balance at 1 January 2017 4,163 2,792 868 3 26 12 7,864 Amortisation for the year 553 272 3 — — 1 829 Impairment and derecognition of assets (5) 182 62 8 — 1 — 253 Disposals (1 ) (20 ) — — — — (21 ) Transfers and other movements (1) (326 ) (163 ) (27 ) — — — (516 ) Transfer to assets and liabilities held for sale (685 ) (169 ) (4 ) — (1 ) — (859 ) Translation 93 22 5 — — 2 122 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 Balance at 31 December 2017 3,979 2,796 853 3 26 15 7,672 Net book value at 31 December 2017 1,583 1,586 39 2 464 68 3,742 Cost Balance at 1 January 2018 5,562 4,382 892 5 490 83 11,414 Additions - project capital 2 — — — 175 — 177 - stay-in-business capital 294 20 3 — 149 1 467 Disposals (5 ) (30 ) — (1 ) — (3 ) (39 ) Transfers and other movements (1) 60 (41 ) — — (270 ) 1 (250 ) Translation (239 ) (119 ) (7 ) — (32 ) (5 ) (402 ) Balance at 31 December 2018 5,674 4,212 888 4 512 77 11,367 Accumulated amortisation and impairments Balance at 1 January 2018 3,979 2,796 853 3 26 15 7,672 Amortisation for the year 397 233 2 1 — 1 634 Impairment and derecognition of assets (5) — 104 — — — — 104 Disposals (5 ) (27 ) — (1 ) — (2 ) (35 ) Transfers and other movements (1) (52 ) (153 ) — — — — (205 ) Translation (135 ) (42 ) (6 ) — 1 (2 ) (184 ) 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 — — 1 281 14 339 - stay-in-business capital 208 25 1 2 188 — 424 Finance costs capitalised — — — — 6 — 6 Disposals (1 ) (16 ) — — — — (17 ) Transfers and other movements (1) (259 ) 219 1 — (489 ) (16 ) (544 ) Transfer to assets and liabilities held for sale (660 ) (663 ) (9 ) — (90 ) (9 ) (1,431 ) Translation (4 ) (1 ) — — (3 ) — (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 — — 609 Impairment and derecognition of assets (5) 243 172 — — 90 — 505 Disposals (1 ) (15 ) — — — — (16 ) Transfers and other movements (1) (455 ) (53 ) 1 — (3 ) (12 ) (522 ) Transfer to assets and liabilities held for sale (488 ) (422 ) (5 ) — (88 ) — (1,003 ) Translation (9 ) (5 ) — — (1 ) — (15 ) Balance at 31 December 2019 3,866 2,803 846 4 25 — 7,544 Net book value at 31 December 2019 1,135 973 35 3 380 66 2,592 (1) Transfers and other movements include amounts from deferred stripping, change in estimates of decommissioning assets, asset reclassifications and derecognition of assets. (2) Included in the amounts for mine infrastructure are assets held under finance leases with a net book value of nil (2018: $45 m; 2017: $56m ). (3) Included in the amounts for land and buildings are assets held under finance leases with a net book value of nil (2018: $3 m; 2017: $6 m). (4) Assets of $9 m (2018: $10 m; 2017: $11m ) have been pledged as security. (5) I mpairment and derecognition of assets is assessed as follows: Impairment calculation assumptions as at 31 December 2019 - goodwill, tangible and intangible assets Management assumptions for the value in use of tangible assets and goodwill include: • the gold price assumption represents management’s best estimate of the future price of gold. A long-term real gold price of $1,300 /oz (2018: $1,239 /oz) is based on a range of economic and market conditions that will exist over the remaining useful life of the assets. Annual life of mine plans take into account the following: • proved and probable Ore Reserve; • value beyond proved and probable reserves (including exploration potential) determined using the gold price assumption referred to above; • In determining the impairment for each cash generating unit, the real pre-tax rate was derived from the weighted average cost of capital (WACC) using the Capital Asset Pricing Model (CAPM) to determine the required return on equity with risk factors consistent with the basis used in 2018. At 31 December 2019, the derived group WACC was 8.1% (real post-tax) which is 20 basis points lower than in 2018 of 8.3% , and is based on the industry average capital structure of the major gold companies considered to be appropriate peers. In determining the WACC for each cash generating unit, sovereign and mining risk factors are considered to determine country specific risks. In certain instances, a specific risk premium was added to large projects being undertaken or the turnaround nature of a specific mine to address uncertainties in the forecast of the cash flows; • foreign currency cash flows translated at estimated forward exchange rates and then discounted using appropriate discount rates for that currency; • cash flows used in impairment calculations are based on life of mine plans which range from 1 year to 39 years ; and • variable operating cash flows are increased at local Consumer Price Index rates. Impairments and derecognitions of tangible assets For the year ended 31 December, the following impairments and derecognitions of tangible assets were recognised: Figures in millions - US Dollars 2019 (1) 2018 2017 First Uranium - Mine Waste Solutions 89 93 13 TauTona — — 79 Kopanang — — 35 Surface Operations 18 1 9 Moab Khotsong — — 112 Mponeng 384 4 2 Covalent 11 — — Obuasi — 5 — Siguiri 2 — — AGA Mineração 1 — — Other — 1 3 505 104 253 (1) Includes impairment of the South African asset disposal group, measured at fair value less costs to sell and disclosed in Discontinued operations. Refer to note 9. Impairment of cash generating units The group reviews and tests the carrying value of its mining assets when events or changes in circumstances suggest that the carrying amount may not be recoverable. On 12 February 2020, AngloGold Ashanti announced the sale of its remaining South African producing assets and related liabilities to Harmony Gold Mining Company Limited for cash and deferred payments with expected proceeds of around $300m , subject to conditions. The South African assets were accordingly transferred to held for sale and written down to fair value less cost to sell. Refer to note 9. Cash generating units with marginal headroom Based on an analysis carried out by the group in 2019, the carrying value and value in use of the most sensitive cash generating unit (CGU) are: Figures in millions - US Dollars Carrying value Value in use Kibali (1)(2) 1,506 1,628 (1) It is estimated that a decrease of the long-term real gold price of $1,300 /oz by 4.2% , would cause the receivable amount of Kibali to equal its carrying amount. The sensitivity analysis has been provided on the basis that the key assumption changes without a change in the other assumptions. However, for a change in each of the assumptions used, it is impracticable to disclose the consequential effect of changes on the other variables used to measure the recoverable amount because these assumptions and others used in impairment testing are inextricably linked. (2) Equity accounted investment included in investments in associates and joint ventures in the Statement of Financial Position. |
Right of Use Assets and Lease L
Right of Use Assets and Lease Liabilities | 12 Months Ended |
Dec. 31, 2019 | |
Leases [Abstract] | |
Right of Use Assets and Lease Liabilities | RIGHT OF USE ASSETS AND LEASE LIABILITIES The group leases various assets including buildings, plant and equipment and vehicles. Some of the group’s lease obligations are secured by the lessors’ title to the leased assets for such leases. RIGHT OF USE ASSETS 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 — 32 Transfers and other movements (1) 58 15 73 Transfer to non-current assets and liabilities held for sale — (1 ) (1 ) Translation — 1 1 Balance at 31 December 2019 209 24 233 Accumulated amortisation and impairments Balance at 1 January 2019 — — — 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 (1) Relates to contracts previously classified as leases under IAS 17, which the group has reassessed upon initial transition as leases under IFRS 16 as of 1 January 2019. 16 . RIGHT OF USE ASSETS AND LEASE LIABILITIES (continued) LEASE EXPENSES US dollar millions 2019 Amounts recognised in the income statement Amortisation expense on right of use assets 42 Interest expense on lease liabilities 10 Expenses on short term leases 83 Expenses on variable lease payments not included in the lease liabilities 220 Expenses on leases of low value assets 2 These expenses are allocated to cost of sales and corporate, administration and other costs. Total cash outflow for leases during the period amounted to $51m , consisting of repayments of liabilities of $42m and finance costs paid of $9m . LEASE LIABILITIES US Dollar million 2019 Lease liabilities Non-current 126 Current 45 Total 171 US Dollar million 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 Lease liabilities recognised 160 Repayment of lease liabilities (42 ) Finance costs paid on lease liabilities (9 ) Interest charged to the income statement 10 Reclassification of finance leases from borrowings 60 Change in estimate (5 ) Translation (3 ) Closing balance 171 Lease finance costs paid included in the statement of cash flows 9 US Dollar million 2019 Maturity analysis of lease liabilities Undiscounted cash flows Less than and including 1 year 52 Between 1 and 5 years 89 Five years and more 57 Total 198 16 . RIGHT OF USE ASSETS AND LEASE LIABILITIES (continued) US Dollar million 2019 Reconciliation between IFRS 16 lease liabilities and lease commitments as at 31 December 2018 Lease liabilities at 1 January 2019 128 Discounting of lease liabilities 16 Non-qualifying leases (1) 121 Lease commitments at 31 December 2018 265 (1) Non-qualifying leases include leases that are short term in nature, low value items, or where the contractual repayment structures are variable in nature only, as well as the service components of qualifying contracts, not capitalised as part of the initial cost of the right of use assets. The company does not face a significant liquidity risk with regard to its lease liabilities. Lease liabilities are monitored within the company’s treasury function. All lease contracts contain market review clauses in the event that AngloGold Ashanti exercises its option to renew. Certain of the group’s contracts have a payment structure that is variable in nature and hence do not qualify for IFRS 16 lease accounting. These contracts consist of mostly mining and drilling contracts. The variable nature of these contracts is to allow equal sharing of pain and gain between the group and its contractors. The cash flows are not disclosed as their variability does not permit reliable forecasts. Short-term, low value and variable contracts continue to be recognised within cost of sales. The weighted average incremental borrowing rate at the date of initial application is 4.72% . |
Intangible Assets
Intangible Assets | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of detailed information about intangible assets [abstract] | |
Intangible Assets | INTANGIBLE ASSETS Figures in millions Goodwill Other Total US Dollars Cost Balance at 1 January 2017 379 185 564 Additions — 1 1 Transfer to assets and liabilities held for sale — (17 ) (17 ) Transfers and other movements (1) (263 ) (1 ) (264 ) Translation 11 4 15 Balance at 31 December 2017 127 172 299 Accumulated amortisation and impairments Balance at 1 January 2017 253 166 419 Amortisation for the year 6 6 Impairment 9 — 9 Transfer to assets and liabilities held for sale — (15 ) (15 ) Transfers and other movements (1) (263 ) (1 ) (264 ) Translation 1 5 6 Balance at 31 December 2017 — 161 161 Net book value at 31 December 2017 127 11 138 Cost Balance at 1 January 2018 127 172 299 Additions — 1 1 Disposals — (3 ) (3 ) Transfers and other movements (1) — 4 4 Translation (11 ) (7 ) (18 ) Balance at 31 December 2018 116 167 283 Accumulated amortisation and impairments Balance at 1 January 2018 — 161 161 Amortisation for the year 5 5 Disposals — (3 ) (3 ) Transfers and other movements (1) — 4 4 Translation — (7 ) (7 ) Balance at 31 December 2018 — 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 — (26 ) (26 ) Transfers and other movements (1) — 3 3 Balance at 31 December 2019 116 144 260 Accumulated amortisation and impairments Balance at 1 January 2019 — 160 160 Amortisation for the year 3 3 Transfer to assets and liabilities held for sale — (26 ) (26 ) Balance at 31 December 2019 — 137 137 Net book value at 31 December 2019 116 7 123 (1) Transfers and other movements include amounts from asset reclassifications and amounts written off. 17 INTANGIBLE ASSETS (continued) Impairment calculation assumptions for goodwill Based on an analysis carried out by the group in 2019, the carrying value and value in use of cash generating units (CGUs) with goodwill that were most sensitive is: 2019 US Dollars Figures in millions Carrying Value Value in use Sunrise Dam 220 363 As at 31 December 2019, the recoverable amount of Sunrise Dam exceeded its carrying amount by $143 m. The Sunrise Dam CGU had $108 m goodwill at that date. It is estimated that a decrease of the long-term real gold price of $1,300 /oz by 5% , would cause the recoverable amount of this CGU to equal its carrying amount. The sensitivity analysis has been provided on the basis that the key assumption changes without a change in the other assumptions. However, for a change in each of the assumptions used, it is impracticable to disclose the consequential effect of changes on the other variables used to measure the recoverable amount because these assumptions and others used in impairment testing of goodwill are inextricably linked. Therefore it is possible that outcomes within the next financial year that are different from the assumptions used in the impairment testing process for goodwill could require a material adjustment to the carrying amounts in future periods. Net book value of goodwill allocated to each of the CGUs: US Dollars Figures in millions 2019 2018 2017 - Sunrise Dam 108 108 119 - Serra Grande 8 8 8 116 116 127 Real pre-tax discount rates applied in impairment calculations on CGUs for which the carrying amount of goodwill is significant are as follows: - Sunrise Dam (1) 10.8 % 8.3 % 8.3 % Goodwill has been allocated to its respective CGUs where it is tested for impairment as part of the CGU . The group reviews and tests the carrying value of goodwill on an annual basis for impairment. The discount rates for 2019 were determined on a basis consistent with the 2018 discount rates. (1) The value in use of the CGU is $363 m in 2019 (2018: $750 m; 2017: $402 m). |
Material Partly-Owned Subsidiar
Material Partly-Owned Subsidiaries | 12 Months Ended |
Dec. 31, 2019 | |
Interests In Other Entities [Abstract] | |
Material Partly-Owned Subsidiaries | MATERIAL PARTLY-OWNED SUBSIDIARIES Name Non-controlling interest holding Country of incorporation and operation 2019 2018 2017 Cerro Vanguardia S.A. (CVSA) 7.5 % 7.5 % 7.5 % Argentina Société AngloGold Ashanti de Guinée S.A. (Siguiri) 15 % 15 % 15 % Republic of Guinea Financial information of subsidiaries that have material non-controlling interests are provided below: US Dollars Figures in millions 2019 2018 2017 Profit (loss) allocated to material non-controlling interests CVSA 5 9 7 Siguiri — 8 13 Accumulated balances of material non-controlling interests CVSA 13 14 13 Siguiri 23 32 32 Summarised financial information of subsidiaries is as follows. The information is based on amounts including inter-company balances. US Dollars Figures in millions CVSA Siguiri 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 — 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 ) Statement of profit or loss for 2017 Revenue 517 489 Profit (loss) for the year 96 88 Total comprehensive income (loss) for the year, net of tax 96 88 Attributable to non-controlling interests 7 13 Dividends paid to non-controlling interests (9 ) (10 ) Summarised financial information of subsidiaries is as follows. The information is based on amounts before inter-company eliminations. US Dollars Figures in millions CVSA Siguiri 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 financial position as at 31 December 2017 Non-current assets 193 206 Current assets 171 189 Non-current liabilities (103 ) (101 ) Current liabilities (84 ) (82 ) Total equity 177 212 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 ) Statement of cash flows for the year ended 31 December 2017 Cash inflow (outflow) from operating activities 189 152 Cash inflow (outflow) from investing activities (55 ) (82 ) Cash inflow (outflow) from financing activities (118 ) (58 ) Net increase (decrease) in cash and cash equivalents 16 12 |
Investments in Associates and J
Investments in Associates and Joint Ventures | 12 Months Ended |
Dec. 31, 2019 | |
Interests In Other Entities [Abstract] | |
Investments in Associates and Joint Ventures | INVESTMENTS IN ASSOCIATES AND JOINT VENTURES US Dollars Figures in millions 2019 2018 2017 Carrying value Investments in associates 40 36 36 Investments in joint ventures 1,541 1,492 1,471 1,581 1,528 1,507 Detailed disclosures are provided for the years in which investments in associates and joint ventures are considered to be material. Summarised financial information of immaterial associates is as follows: US Dollars Figures in millions 2019 2018 2017 Aggregate statement of profit or loss for associates (attributable) Revenue 20 19 21 Operating (expenses) income (1) 3 (4 ) (11 ) Taxation — (1 ) 2 Profit (loss) for the year 23 14 12 Total comprehensive profit (loss) for the year, net of tax 23 14 12 (1) Includes share of associate profit Investments in material joint ventures comprise: Name Effective % Description Country of incorporation and operation 2019 2018 2017 Kibali Goldmines S.A. (1) 45.0 45.0 45.0 Exploration and mine development The Democratic Republic of the Congo (1) AngloGold Ashanti Limited has a 50% interest in Kibali (Jersey) Limited (Kibali) which holds our effective 45% interest in Kibali Goldmines S.A. US Dollars Figures in millions 2019 2018 2017 Carrying value of joint ventures Kibali 1,506 1,439 1,423 Immaterial joint ventures 35 53 48 1,541 1,492 1,471 Reversal (impairment) of investments in joint ventures Sadiola (note 8) 6 14 2 US Dollars Figures in millions 2019 2018 2017 The cumulative unrecognised share of losses of the joint ventures: Morila 8 8 7 Yatela 2 3 2 19 INVESTMENTS IN ASSOCIATES AND JOINT VENTURES (continued) Summarised financial information of joint ventures is as follows (not attributable): US Dollars Kibali Figures in millions 2019 2018 2017 Statement of profit or loss Revenue 1,123 1,098 755 Other operating costs and expenses (479 ) (539 ) (530 ) Amortisation of tangible and intangible assets (282 ) (330 ) (264 ) Finance costs and unwinding of obligations (4 ) (4 ) (5 ) Interest received 4 3 4 Taxation (62 ) (16 ) 54 Profit for the year 300 212 14 Total comprehensive income for the year, net of tax 300 212 14 Dividends received from joint venture (attributable) 75 89 — US Dollars Kibali Figures in millions 2019 2018 2017 Statement of financial position Non-current assets 2,522 2,659 2,834 Current assets 183 205 166 Cash and cash equivalents 453 124 3 Total assets 3,158 2,988 3,003 Non-current financial liabilities 45 29 41 Other non-current liabilities 26 24 23 Current financial liabilities 11 11 7 Other current liabilities 66 64 107 Total liabilities 148 128 178 Net assets 3,010 2,860 2,825 Group’s share of net assets 1,505 1,430 1,413 Other 1 9 10 Carrying amount of interest in joint venture 1,506 1,439 1,423 US Dollars Figures in millions 2019 2018 2017 Aggregate statement of profit (loss) for immaterial joint ventures (attributable) Revenue 111 112 113 Other operating costs and expenses (94 ) (92 ) (94 ) Amortisation of tangible and intangible assets (7 ) (15 ) (16 ) Taxation (7 ) (2 ) (2 ) Profit (loss) for the year 3 3 1 Total comprehensive income (loss) for the year, net of tax 3 3 1 |
Other Investments
Other Investments | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of detailed information about financial instruments [abstract] | |
Other Investments | OTHER INVESTMENTS US Dollars Figures in millions 2019 2018 2017 Listed investments (1) Non-current investments Equity investments at fair value through profit and loss (FVTPL) Balance at beginning of year 19 26 Additions 1 2 Disposals (1 ) (2 ) Fair value adjustments 1 (3 ) Transfer to non-current assets and liabilities held for sale (21 ) — Translation 1 (4 ) Balance at end of year — 19 Equity investments at fair value though OCI (FVTOCI) Balance at beginning of year 63 47 Additions 9 13 Disposals — (7 ) Fair value adjustments — 10 Balance at end of year 72 63 The group reclassified its listed investments as FVTPL and FVTOCI on adoption of IFRS 9 on 1 January 2018. The non-current equity investments consist of ordinary shares and collective investment schemes and primarily comprise: International Tower Hill Mines Limited (ITH) — — 7 Corvus Gold Corporation 41 43 25 Various listed investments held by Environmental Rehabilitation Trust Fund — 16 22 Pure Gold Mining 31 18 11 Other — 5 8 72 82 73 (1) The group’s listed equity investments are susceptible to market price risk arising from uncertainties about the future values of the investments. At the reporting date, the FVTOCI equity investments were listed on the Toronto Stock Exchange. 20 OTHER INVESTMENTS (continued) US Dollars Figures in millions 2019 2018 2017 Listed investments (continued) Non-current investments (continued) Investments at amortised cost Balance at beginning of year 12 4 6 Additions 11 15 — Disposals (9 ) (6 ) (2 ) Transfer to non-current assets and liabilities held for sale (15 ) — — Translation 1 (1 ) — — 12 4 The amortised cost investment consists of government bonds held by the Environmental Rehabilitation Trust Fund administered by Ashburton Investments. Current investments Listed investments - FVTOCI (1) (2) 10 6 7 Book value of listed investments 82 100 84 Unlisted investments Non-current investments Balance at beginning of year 47 54 73 Additions 45 48 81 Maturities (44 ) (45 ) (73 ) Transfer to non-current assets and liabilities held for sale (48 ) — (32 ) Fair value adjustment- FVTOCI 2 — — Other — (2 ) — Translation 2 (8 ) 5 Balance at end of year 4 47 54 The unlisted investments include: Negotiable Certificates of Deposit - Environmental Rehabilitation Trust Fund administered by Ashburton Investments — 46 53 Other 4 1 1 4 47 54 Book value of unlisted investments 4 47 54 Non-current other investments 76 141 131 Total book value of other investments 86 147 138 (1) The group’s listed equity investments are susceptible to market price risk arising from uncertainties about the future values of the investments. At the reporting date, the FVTOCI equity investments were listed on the Toronto Stock Exchange. (2) During 2019 a fair value adjustment of $4m to the Sandstorm investment was recognised. |
Inventories
Inventories | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of inventories [Abstract] | |
Inventories | INVENTORIES US Dollars Figures in millions 2019 2018 2017 Non-current Raw materials - ore stockpiles 93 106 100 Current Raw materials - ore stockpiles 229 251 261 - heap-leach inventory 4 3 5 Work in progress - metals in process 51 44 58 Finished goods - gold doré/bullion 42 57 59 - by-products 1 — 5 Total metal inventories 327 355 388 Mine operating supplies 305 297 295 632 652 683 Total inventories (1) 725 758 783 (1) The amount of the write-down of ore stockpiles, metals in process, by-products and mine operating supplies to net realisable value, and recognised as an expense during the year in other expenses and cost of sales is $4m (2018: $19m ; 2017: $17m ). |
Trade, other receivables and ot
Trade, other receivables and other assets | 12 Months Ended |
Dec. 31, 2019 | |
Subclassifications of assets, liabilities and equities [abstract] | |
Trade, other receivables and other assets | TRADE, OTHER RECEIVABLES AND OTHER ASSETS US Dollars Figures in millions 2019 2018 2017 Non-current Prepayments 15 18 17 Recoverable tax, rebates, levies and duties 107 84 50 122 102 67 Current Trade and loan receivables 47 33 27 Prepayments 61 42 62 Recoverable tax, rebates, levies and duties 130 116 127 Other receivables 12 18 6 250 209 222 Total trade, other receivables and other assets 372 311 289 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 Continental Africa segment. These values are summarised as follows: Recoverable value added tax 167 126 106 Recoverable fuel duties 43 41 38 Appeal deposits 10 10 10 Geita Gold Mine Geita Gold Mine (GGM) in Tanzania net indirect tax receivables balance increased by $35m to $119m ( 2018 : $84m ; 2017 : $67m ). No refunds were received in cash in the current year, however claims relating to periods pre-July 2017 totalling $9m have been offset against provisional corporate tax payments in 2019 in accordance with legislation. These amounts were set off against VAT claims that have been certified by an external advisor and verified by the Tanzania Revenue Authority (“TRA”). The TRA acknowledged the majority of the offsets during December 2019. The remaining disputed balance was objected to as GGM believe that the claims have been correctly set off pursuant to Tanzanian law. An amendment, effective 20 July 2017, to Tanzania's mining legislation included an amendment to the Value Added Tax Act, 2014 (No. 5) (2015 VAT Act) to the effect that no input tax credit can be claimed for the exportation of “raw minerals”. The Written Laws (Miscellaneous Amendments) (No. 2) Act, 2019 , issued during 2019, provides a definition for "raw minerals". However, GGM has received notices from the TRA that it is not eligible for VAT relief from July 2017 onwards on the basis that all production constitutes “raw minerals” for this purpose. The basis for dispute of the disqualifications is on the interpretation of the legislation. Management's view is that the definition of "raw minerals" provided in the Written Laws (Miscellaneous Amendments) (No. 2) Act. 2019 excludes gold doré. Gold bearing ore is mined from the open pit and underground mining operations, where it is further crushed and milled to maximise the gold recovery process, producing gold doré exceeding 80% purity as well as beneficiated products (concentrate). On this basis the mined doré and concentrate do not constitute “raw minerals” and accordingly the VAT claims are valid. We have obtained a legal opinion that supports our view that doré does not constitute a “raw mineral”. The total VAT claims submitted since July 2017 amount to $134m (of the total, $56m of claims were submitted in 2019). All disqualifications received from the TRA have been objected to in accordance with the provisions and time frames set out in the Tax Administration Act, 2015 (No.10). CVSA On September 4, 2018, a decree was published by the Argentinian Government, which reintroduced export duties for products exported from Argentina and which will be in force until 31 December 2020. The export duty rate is 12% on the freight on board (FOB) value of goods exported, including gold, paid in country. The duty is limited so as not to exceed ARS $4 per USD exported. On 14 December 2019, the Government of Argentina announced that the cap of ARS $4 for each dollar exported, would be replaced by a flat rate of 12% for 2020. Pursuant to the terms of the Stability Agreement between CVSA and the Government of Argentina, CVSA has a right of refund or offset of these amounts paid as established by its Stability Agreement, which provides for a 30% taxation cap on annual taxes and duties paid by CVSA. As a result of the taxation cap, export duty receivables amount to $25m (2018: $14m ). |
Cash Restricted for Use
Cash Restricted for Use | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure Of Additional Information [Abstract] | |
Cash Restricted for Use | US Dollars Figures in millions 2019 2018 2017 Non-current 31 35 37 Current Cash restricted by prudential solvency requirements and other 27 24 18 Cash balances held by the Tropicana - joint venture 6 7 10 33 31 28 Total cash restricted for use (note 35 and 36) 64 66 65 |
Cash And Cash Equivalents
Cash And Cash Equivalents | 12 Months Ended |
Dec. 31, 2019 | |
Cash and cash equivalents [abstract] | |
Cash And Cash Equivalents | CASH AND CASH EQUIVALENTS US Dollars Figures in millions 2019 2018 2017 Cash and deposits on call 417 312 170 Money market instruments 39 17 35 Total cash and cash equivalents (note 35 and note 36) 456 329 205 |
Share Capital and Premium
Share Capital and Premium | 12 Months Ended |
Dec. 31, 2019 | |
Share Capital, Reserves And Other Equity Interest [Abstract] | |
Share Capital and Premium | SHARE CAPITAL AND PREMIUM US Dollars Figures in millions 2019 2018 2017 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 — — — 5,000,000 B redeemable preference shares of 1 SA cent each — — — 30,000,000 C redeemable preference shares of no par value — — — 23 23 23 Issued and fully paid 415,301,215 (2018: 412,769,980; 2017: 410,054,615) ordinary shares of 25 SA cents each 17 16 16 2,000,000 A redeemable preference shares of 50 SA cents each — — — 778,896 B redeemable preference shares of 1 SA cent each — — — 17 16 16 Treasury shares held within the group: 2,778,896 A and B redeemable preference shares — — — 17 16 16 Share premium Balance at beginning of year 7,208 7,171 7,145 Ordinary shares issued - share premium 27 37 26 7,235 7,208 7,171 Less: held within the group Redeemable preference shares (53 ) (53 ) (53 ) Balance at end of year 7,182 7,155 7,118 Share capital and premium 7,199 7,171 7,134 The rights and restrictions applicable to the A, B and C redeemable preference shares were unchanged during 2019. The cancellation of all redeemable preference shares is in process. |
Borrowings
Borrowings | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of borrowing costs [Abstract] | |
Borrowings | BORROWINGS US Dollars Figures in millions 2019 2018 2017 Non-current Unsecured Debt carried at amortised cost Rated bonds - issued July 2012 762 761 759 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 1,003 1,002 1,001 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 bonds are repayable in April 2020 and the $300m bonds are repayable in April 2040. The bonds are US dollar-based. Syndicated revolving credit facility ($1bn) — — 32 The facility was issued on 17 July 2014 and cancelled during October 2018. Replaced with a $1.4bn multi-currency facility. Syndicated revolving credit facility (A$500m) — — 163 The loan was cancelled in October 2018 and replaced by a $1.4bn multi-currency facility which is capped at A$500m. Syndicated revolving credit facility (R2.5bn) — — 56 Quarterly interest paid at JIBAR plus 1.8% per annum. The facility was issued on 12 December 2017 and is available until 12 December 2022. The loan is SA rand-based. Syndicated loan facility (R1.4bn) — 28 81 Quarterly interest paid at JIBAR plus 1.65% per annum. The facility was issued on 7 July 2015 and is available until 7 July 2020. The loan is SA rand-based. The facility was cancelled on 19 February 2020. Syndicated loan facility (R1bn) 72 35 81 Quarterly interest paid at JIBAR plus 1.3% per annum. The facility was issued on 3 November 2017 and is available until 3 November 2022. The loan is SA rand-based. Siguiri revolving credit facilities ($65m) 67 — — Interest paid at 8% above LIBOR. The facility was issued on 23 August 2016, is available until 27 February 2022 and is US dollar-based. Geita revolving credit facility ($150m) 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 6 April 2021. Other — — 1 Interest charged at various rates from 2.5% plus delta exchange rate on individual instalments per annum to 4.5% per annum. Repayments terminate in June 2023. All loans are Brazilian real-based. The loans are subject to debt covenant arrangements for which no default event occurred. Multi-currency syndicated revolving credit facility ($1.4bn multi-currency RCF) 15 — — 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 A$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. Revolving credit facilities ($100m) — 103 16 US Dollars Figures in millions 2019 2018 2017 During 2019 the loans outstanding under these facilities were refinanced and included in the Geita and Siguiri revolving credit facilities. Non-current (continued) Secured Finance leases (1) Turbine Square Two (Pty) Limited — 9 15 The lease is capitalised at an implied interest rate of 9.8% per annum. Lease payments are due in monthly instalments terminating in March 2022 and are SA rand-based. The building financed is used as security for these loans. Australian Gas Pipeline — 48 58 The contract with the supplier of gas contains embedded leases which have been determined to bear interest at an average of 6.75% per annum. The embedded leases commenced in November and December 2015 and are for a 10 and 12 year duration, respectively. The leases are repayable in monthly instalments and are Australian dollar-based. The equipment related to the embedded leases is used as security for these loans. Other — 4 5 Various loans with interest rates ranging from 2.5% to 14.7% per annum. These loans are repayable from 2016 to 2041. Some of these loans are secured by the financed assets. Total borrowings (note 35) 2,033 2,050 2,268 Current portion of borrowings (note 36) (734 ) (139 ) (38 ) Total non-current borrowings (note 36) 1,299 1,911 2,230 Amounts falling due Within one year 734 139 38 Between one and two years 110 734 219 Between two and five years 898 860 1,687 After five years 291 317 324 (note 35) 2,033 2,050 2,268 (1) The Finance leases have been included in the lease liabilities from 1 January 2019 (refer to note 16). US Dollars Figures in millions 2019 2018 2017 Currency The currencies in which the borrowings are denominated are as follows: US dollar 1,893 1,896 1,807 Australian dollar 21 48 221 SA rand 72 75 237 Tanzanian shilling 47 29 — Brazilian real — 2 3 (notes 35) 2,033 2,050 2,268 Undrawn facilities Undrawn borrowing facilities as at 31 December are as follows: Syndicated revolving credit facility ($1bn) - US dollar — — 965 Syndicated revolving credit facility (A$500m) - Australian dollar — — 226 Syndicated revolving credit facility (R2.5bn) - SA rand 179 174 146 Syndicated revolving credit facility (R1.4bn) - SA rand 100 70 32 FirstRand Bank Limited (R750m) - SA rand 54 52 61 Revolving credit facilities ($100m) - US dollar — — 85 Revolving credit facility (R1bn) - SA rand — 35 — Multi currency syndicated revolving credit facility ($1.4bn) - US Dollar 1,379 1,400 — Revolving credit facility - $150m 40 57 — 1,752 1,788 1,515 Changes in liabilities arising from financing activities: Reconciliation of total borrowings: A reconciliation of total borrowings included in the statement of financial position is set out below: Opening balance 2,050 2,268 2,178 Proceeds from borrowings 168 753 815 Repayment of borrowings (123 ) (967 ) (767 ) Finance costs paid on borrowings (122 ) (117 ) (125 ) Deferred loan fees (7 ) — — Interest charged to the income statement 127 127 130 Reclassification of finance leases to lease liabilities (60 ) — — Translation — (14 ) 37 Closing balance 2,033 2,050 2,268 Reconciliation of finance costs paid: A reconciliation of finance costs paid included in the statement of cash flows is set out below: Finance costs paid on borrowings 122 117 125 Capitalised finance cost (6 ) — — Commitment fees, utilisation fees and other borrowing costs 12 13 13 Total finance costs paid 128 130 138 |
Environmental Rehabilitation an
Environmental Rehabilitation and Other Provisions | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of other provisions, contingent liabilities and contingent assets [Abstract] | |
Environmental Rehabilitation and Other Provisions | ENVIRONMENTAL REHABILITATION AND OTHER PROVISIONS US Dollars Figures in millions 2019 2018 2017 Environmental rehabilitation obligations Provision for decommissioning Balance at beginning of year 237 286 279 Charge to income statement — 1 2 Change in estimates (1) 29 (47 ) 4 Unwinding of decommissioning obligation 10 12 12 Transfer to assets and liabilities held for sale (81 ) — (20 ) Utilised during the year (1 ) (1 ) (2 ) Translation 2 (14 ) 11 Balance at end of year 196 237 286 Provision for restoration Balance at beginning of year 385 409 426 Charge to income statement (1 ) 2 8 Change in estimates (1) 50 (28 ) (17 ) Unwinding of restoration obligation 9 12 10 Transfer to assets and liabilities held for sale (15 ) — (3 ) Transfer to current portion — — (17 ) Utilised during the year (5 ) (3 ) (4 ) Translation — (7 ) 6 Balance at end of year 423 385 409 Other provisions (2) Balance at beginning of year 205 247 172 Charge to income statement 39 24 17 Change in estimates 27 18 15 Additions — — 64 Transfer to assets and liabilities held for sale (115 ) — — Transfer to trade and other payables (73 ) (26 ) (6 ) Unwinding of other provisions 6 7 1 Utilised during the year (16 ) (35 ) (35 ) Translation 5 (30 ) 19 Balance at end of year 78 205 247 Total environmental rehabilitation and other provisions 697 827 942 (1) The change in estimates is attributable to changes in discount rates due to changes in global economic assumptions and changes in mine plans resulting in a change in cash flows and changes in design of tailings storage facilities and in methodology following requests from the environmental regulatory authorities. These provisions are expected to unwind beyond the end of the life of mine. (2) Other provisions include the long-term provision for the silicosis class action litigation of $54m (2018: $47m ; 2017: $63m ), the short-term portion of $11m (2018; $16m ; 2017: nil ) has been included in trade and other payables. |
Provision for Pension and Post-
Provision for Pension and Post-retirement Benefits | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of employee benefits [Abstract] | |
Provision for Pension and Post-retirement Benefits | PROVISION FOR PENSION AND POST-RETIREMENT BENEFITS US Dollars Figures in millions 2019 2018 2017 Defined benefit plans The retirement schemes consist of the following: Post-retirement medical scheme for AngloGold Ashanti's South African employees 93 93 114 Other defined benefit plans 7 7 8 Sub-total 100 100 122 28 PROVISION FOR PENSION AND POST-RETIREMENT BENEFITS (continued) Figures in millions 2019 2018 2017 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 2019. Information with respect to the defined benefit liability is as follows: Benefit obligation Balance at beginning of year 93 115 109 Interest cost 8 9 10 Benefits paid (8 ) (10 ) (9 ) Actuarial (gain) loss (2 ) (5 ) (8 ) Translation 2 (16 ) 13 Balance at end of year 93 93 115 Less: transfer to non-current assets and liabilities held for sale — — (1 ) Net amount recognised 93 93 114 Components of net periodic benefit cost Interest cost 8 9 10 Net periodic benefit cost 8 9 10 Assumptions Assumptions used to determine benefit obligations at the end of the year are as follows: Discount rate 9.15 % 9.57 % 9.29 % Expected increase in health care costs 7.25 % 7.35 % 7.75 % Assumed health care cost trend rates at 31 December: Health care cost trend assumed for next year 7.25 % 7.35 % 7.75 % Rate to which the cost trend is assumed to decline (the ultimate trend rate) 7.25 % 7.35 % 7.75 % 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 1 1 Effect on post-retirement benefit obligation – 1% point increase 7 7 10 Effect on total service and interest cost – 1% point decrease (1 ) (1 ) (1 ) Effect on post-retirement benefit obligation – 1% point decrease (6 ) (7 ) (8 ) Cash flows Contributions AngloGold Ashanti Limited expects to contribute $9m to the post-retirement medical plan in 2020. Estimated future benefit payments The following medical benefit payments, which reflect the expected future service, as appropriate, are expected to be paid: 2020 9 2021 9 2022 9 2023 9 2024 10 Thereafter 47 |
Deferred Taxation
Deferred Taxation | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of income tax [Abstract] | |
Deferred Taxation | DEFERRED TAXATION US Dollars Figures in millions 2019 2018 2017 Deferred taxation relating to temporary differences is made up as follows: Liabilities Tangible assets (owned) 370 521 604 Right-of-use assets 48 Inventories 24 37 33 Other 9 5 15 451 563 652 Assets Provisions 209 218 229 Lease liabilities 52 Tax losses 45 24 60 Other 9 6 4 315 248 293 Net deferred taxation liability 136 315 359 Included in the statement of financial position as follows: Deferred tax assets 105 — 4 Deferred tax liabilities 241 315 363 Net deferred taxation liability 136 315 359 The movement on the deferred tax balance is as follows: Balance at beginning of year 315 359 492 Taxation of items included in income statement from continuing and discontinued operations (189 ) (30 ) (68 ) Taxation on items included in other comprehensive income (2 ) 5 (6 ) Transfer to non-current assets and liabilities held for sale 15 — (73 ) Translation (3 ) (19 ) 14 Balance at end of year 136 315 359 Provision has been made for South African income tax or foreign taxes that may result from future remittances of undistributed earnings of foreign subsidiaries or foreign corporate joint ventures, where the group is able to assert that the undistributed earnings are not permanently reinvested. In all other cases, the foreign subsidiaries reinvest the undistributed earnings into future capital expansion projects, maintenance capital and ongoing working capital funding requirements. Unrecognised taxable temporary differences pertaining to undistributed earnings totalled $444m (2018: $413m ; 2017: $384m ). |
Trade, Other Payables and Provi
Trade, Other Payables and Provisions | 12 Months Ended |
Dec. 31, 2019 | |
Trade and other payables [abstract] | |
Trade, Other Payables and Provisions | TRADE, OTHER PAYABLES AND PROVISIONS US Dollars Figures in millions 2019 2018 2017 Non-current Other payables 15 3 3 Current Trade payables 363 350 358 Accruals (1) 167 186 228 Short-term provisions 53 20 22 Derivatives — 9 — Other payables 3 29 30 586 594 638 Total trade, other payables and provisions 601 597 641 Current trade and other payables are non-interest bearing and are normally settled within 60 days. (1) Includes accrual for silicosis of $11m in 2019 (2018: $16m ; 2017: nil ). |
Taxation
Taxation | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of income tax [Abstract] | |
Taxation | TAXATION US Dollars Figures in millions 2019 2018 2017 Balance at beginning of year 54 50 97 Refunds during the year 7 5 14 Payments during the year (228 ) (171 ) (174 ) Taxation of items included in the income statement 298 242 190 Offset of VAT and other taxes (50 ) (63 ) (78 ) Transfer from tax receivable relating to North America (10 ) — — Translation (9 ) (9 ) 1 Balance at end of year 62 54 50 Included in the statement of financial position as follows: Taxation asset included in trade and other receivables (10 ) (6 ) (3 ) Taxation liability 72 60 53 62 54 50 |
Cash Generated From Operations
Cash Generated From Operations | 12 Months Ended |
Dec. 31, 2019 | |
Statement of cash flows [abstract] | |
Cash Generated From Operations | CASH GENERATED FROM OPERATIONS US Dollars Figures in millions 2019 2018 2017 Profit (loss) before taxation 619 445 328 Adjusted for: Movement on non-hedge derivatives and other commodity contracts (6 ) 6 1 Amortisation of tangible assets and right of use assets (note 4) 580 553 685 Finance costs and unwinding of obligations (note 7) 172 168 157 Environmental, rehabilitation and other expenditure (6 ) (23 ) (26 ) Impairment, derecognition of assets and profit (loss) on disposal 3 5 (1 ) Other expenses (income) 41 28 89 Amortisation of intangible assets (notes 4) 3 5 5 Interest income (14 ) (8 ) (8 ) Share of associates and joint ventures’ (profit) loss (note 8) (168 ) (122 ) (22 ) Other non-cash movements 43 (4 ) (4 ) Movements in working capital (165 ) (122 ) (137 ) 1,102 931 1,067 Movements in working capital: (Increase) decrease in inventories (67 ) (2 ) (67 ) (Increase) decrease in trade, other receivables and other assets (138 ) (74 ) (86 ) Increase (decrease) in trade, other payables and deferred income 40 (46 ) 16 (165 ) (122 ) (137 ) |
Related Parties
Related Parties | 12 Months Ended |
Dec. 31, 2019 | |
Related Party [Abstract] | |
Related Parties | RELATED PARTIES US Dollars Figures in millions 2019 2018 2017 Material related party transactions were as follows (not attributable): Sales and services rendered to related parties Associates 19 — — Joint ventures 7 10 12 Purchases and services acquired from related parties Associates 12 19 16 Joint ventures 1 — 3 Outstanding balances arising from sale of goods and services due by related parties Associates 19 19 7 Joint ventures 1 — 2 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) Executive contracts All members of the Executive Management team have permanent employment contracts which entitle them to standard group benefits as defined by their specific region and participation in the company’s Deferred Share Plan (DSP). South African-based executives are paid a portion of their remuneration offshore, which is detailed under a separate contract. This reflects global roles and responsibilities and takes account of offshore business requirements. The executive contracts are reviewed annually and currently continue to include a change in control provision. The change in control is subject to the following triggers: • The acquisition of all or part of AngloGold Ashanti; or • A number of shareholders holding less than thirty-five percent of the company’s issued share capital consorting to gain a majority of the board and make management decisions; and • The contracts of Executive Committee members are either terminated or their role and employment conditions are curtailed. In the event of a change in control becoming effective, the executive management team will in certain circumstances be subject to both the notice period and the change in control contract terms. The notice period applied per category of executive and the change in control periods as at 31 December 2019 were as follows: Executive Committee member Notice Period Change of control CEO 12 months 12 months CFO 6 months 6 months EXCO 6 months 6 months Directors and other key management personnel Executive Directors’ and Prescribed Officers’ remuneration The tables below illustrate the single total figure of remuneration and the total cash equivalent received reconciliation of Executive Directors and Prescribed Officers as prescribed by King IV. It comprises an overview of all the pay elements available to the executive management team for the year ended 31 December 2019. The following are definitions of terminology used in the adoption of the reporting requirements under King IV. Reflected In respect of the DSP and LTIP plans, remuneration is reflected when performance conditions have been met during the reporting period. Settled This refers to remuneration that has been included in prior reporting periods and has now become payable (but may not yet have been paid) to the executive in the current period. Single total figure remuneration Base salary Pension scheme benefits Once-off relocation costs Cash in lieu of dividends Other benefits (2) Awards earned during the period reflected but not yet settled Single total figure of remuneration ZAR denominated portion USD/AUD denominated portion (1) DSP 2019 awards (3) CSLTIP 2017 awards (4) Sign-on awards granted (5) 2019 2018 2017 ZAR '000 ZAR '000 ZAR '000 ZAR '000 ZAR '000 ZAR '000 ZAR '000 ZAR '000 ZAR '000 ZAR '000 USD '000 (8) USD '000 (8) USD '000 (8) Executive directors KPM Dushnisky — 18,608 4,648 2,726 142 2,578 61,842 — — 90,544 6,268 7,570 — KC Ramon 5,585 3,981 779 — 194 893 29,135 33,064 — 73,631 5,097 3,547 2,190 Total executive directors 5,585 22,589 5,427 2,726 336 3,471 90,977 33,064 — 164,175 11,365 11,117 2,190 Prescribed officers SD Bailey 3,879 2,560 — — 37 1,160 18,087 5,917 — 31,640 2,190 — — CE Carter (6) — 2,791 5,524 — — 2,277 — — — 10,592 733 3,719 2,322 PD Chenard (7) 2,933 3,900 — 1,270 — 1,729 18,362 — 19,356 47,550 3,292 — — GJ Ehm — 9,074 251 — 163 611 25,329 33,064 — 68,492 4,742 3,286 2,096 L Eybers 1,377 7,945 251 1,135 64 2,310 25,054 29,160 — 67,296 4,659 2,511 1,680 DC Noko (6) 869 396 117 — 17 1,110 — — — 2,509 174 2,846 1,642 S Ntuli 4,607 2,871 631 — 36 343 21,041 7,526 — 37,055 2,565 — — ME Sanz Perez 4,481 3,184 958 — 169 68 20,567 26,447 — 55,874 3,868 2,833 1,637 CB Sheppard (6) 1,159 528 160 — 169 830 — — — 2,846 197 2,961 1,413 TR Sibisi 4,944 2,337 910 — 158 61 19,638 22,713 — 50,761 3,514 2,699 1,126 Total prescribed officers 24,249 35,586 8,802 2,405 813 10,499 148,078 124,827 19,356 374,615 25,934 20,855 11,916 Notes: (1) Salary denominated in USD/AUD for global roles and responsibilities converted to ZAR on payment date. (2) Other benefits include health care, group personal accident, disability, funeral cover, accommodation allowance, airfare and surplus leave encashed. Surplus leave days accrued are automatically encashed unless work requirements allow for carry over. (3) The fair value of the DSP comprises of a cash bonus and share awards for the year ended 31 December 2019 with the cash bonus payable in February 2020 and the share awards allocated in February 2020, vesting over a 5 -year period in equal tranches. (4) The fair value of the CSLTIP granted in 2017 with a 3 -year performance period ended 31 December 2019. The awards vested on 1 March 2020. (5) PD Chenard was awarded a sign-on award of ZAR 19.36m at start date,1 April 2019, of which ZAR 6.33m will be settled in cash with 50% payable upfront, the balance on 1 April 2020 and ZAR 13.03m will be settled in shares to vest over a 2 year period in equal tranches in accordance with the JSE Listing requirements. (6) All salary payments (including salary, performance related payments, pension and other benefits) for CE Carter (retired 28 March 2019), DC Noko (retired 28 February 2019) and CB Sheppard (retired 15 March 2019) are pro-rated in accordance with their retirement dates. (7) All salary payments (including salary, performance related payments, pension and other benefits) for PD Chenard are pro-rated in accordance with his start date, 1 April 2019. (8) Convenience conversion to USD at the year-to-date average exchange rate of $1:R 14.445 (2018: $1:R 13.247 ; 2017 $1:R 13.301 ). 33 RELATED PARTIES (continued) Directors and other key management personnel (continued) Total cash equivalent received reconciliation Single total figure remuneration Awards earned during the period reflected but not yet settled DSP 2018 cash portion settled BSP, CIP and LTIP share awards settled Sign-on cash settled Sign-on shares settled Total cash equivalent received DSP 2019 awards (1) CSLTIP 2017 awards (2) Sign-on awards granted (3) Grant fair value (4) Market movement since grant date (4) Vesting fair value (4) Grant fair value (4) Currency movement since grant date (4) Settlement fair value (4) Grant fair value (4) Market movement since grant date (4) Vesting fair value (4) 2019 2018 2017 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 ZAR '000 ZAR '000 USD '000 (5) USD '000 (5) USD '000 (5) Executive directors KPM Dushnisky 90,544 (61,842 ) — — 7,119 — — — 17,616 (1,010 ) 16,606 20,188 18,357 38,545 90,972 6,298 550 — KC Ramon 73,631 (29,135 ) (33,064 ) — 8,378 21,504 2,849 24,353 — — — — — — 44,163 3,057 1,936 1,515 Total executive directors 164,175 (90,977 ) (33,064 ) — 15,497 21,504 2,849 24,353 17,616 (1,010 ) 16,606 20,188 18,357 38,545 135,135 9,355 2,486 1,515 — — Prescribed officers SD Bailey 31,640 (18,087 ) (5,917 ) — 2,613 4,066 724 4,789 — — — — — — 15,038 1,041 — — CE Carter 10,592 — — — 8,778 26,276 3,913 30,188 — — — — — — 49,558 3,431 1,967 1,907 PD Chenard 47,550 (18,362 ) — (16,191 ) — — — — — — — — — — 12,997 900 — — GJ Ehm 68,492 (25,329 ) (33,064 ) — 7,113 19,622 (198 ) 19,424 — — — — — — 36,636 2,536 1,751 1,758 L Eybers 67,296 (25,054 ) (29,160 ) — 6,701 7,463 2,825 10,289 — — — — — — 30,072 2,082 1,233 1,101 DC Noko 2,509 — — — 5,851 24,906 4,316 29,222 — — — — — — 37,582 2,602 1,436 1,381 S Ntuli 37,055 (21,041 ) (7,526 ) — 3,269 3,956 1,046 5,002 — — — — — — 16,759 1,160 — — ME Sanz Perez 55,874 (20,567 ) (26,447 ) — 5,864 18,839 1,460 20,299 — — — — — — 35,023 2,425 1,399 1,350 CB Sheppard 2,846 — — — 6,186 25,446 4,338 29,783 — — — — — — 38,815 2,687 1,146 887 TR Sibisi 50,761 (19,638 ) (22,713 ) — 5,495 17,709 876 18,585 — — — — — — 32,490 2,249 886 674 Total prescribed officers 374,615 (148,078 ) (124,827 ) (16,191 ) 51,870 148,283 19,300 167,581 — — — — — — 304,970 21,113 9,818 9,058 Notes: (1) The fair value of the DSP comprises of a cash bonus and share awards for the year ended 31 December 2019 with the cash bonus payable in February 2020 and the share awards allocated in February 2020, vesting over a 5 -year period in equal tranches. (2) The fair value of the CSLTIP granted in 2017 with a 3 -year performance period ended 31 December 2019. The awards vested on 1 March 2020. (3) PD Chenard was awarded a sign-on award of ZAR 19.36m at start date,1 April 2019, of which ZAR 6.33m will be settled in cash with 50% payable upfront, the balance on 1 April 2020 and ZAR 13.03m will be settled in shares to vest over a 2 year period in equal tranches in accordance with the JSE Listing requirements. (4) Reflects the sum of all the grant fair value, the sum of all the share price movements since grant to vesting date and the sum of all the vesting fair value for the vested CSLTIP 2016, vested BSP 2017 and 2018, vested CIP 2017 and 2018 vested sign-on share awards and difference in the currency movements for the vested sign-on cash settled award. These values include awards vested early for CE Carter, DC Noko and CB Sheppard in accordance with their retirement dates as per as per scheme rules. (5) Convenience conversion to USD at the year-to-date average exchange rate of $1:R 14.445 (2018: $1:R 13.247 ; 2017: $1:R 13.301 ). 33 RELATED PARTIES (continued) Directors and other key management personnel (continued) Details of the share incentive scheme awards are included below. BSP awards Balance at 1 January 2019 Granted Vested, deemed settled Forfeited/ Lapsed Balance at 31 December 2019 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 — — — — — — — — KC Ramon 77,073 — 49,256 — 27,817 — 10,034 8,804 Total executive directors 77,073 — 49,256 — 27,817 — 10,034 8,804 Prescribed officers SD Bailey 22,549 — 14,243 — 8,306 — 2,903 2,629 CE Carter (4) 67,173 — 58,055 9,118 — — 11,664 — PD Chenard — — — — — — — — GJ Ehm 62,783 — 39,786 — 22,997 — 8,109 7,279 L Eybers 53,626 — 31,338 — 22,288 — 6,419 7,054 DC Noko (4) 52,531 — 44,415 8,116 — — 9,070 — S Ntuli 28,221 — 17,584 — 10,637 — 3,587 3,367 ME Sanz Perez 52,842 — 33,770 — 19,072 — 6,879 6,036 CB Sheppard (4) 55,534 — 47,374 8,160 — — 9,584 — TR Sibisi 47,221 — 29,516 — 17,705 — 6,021 5,604 Total prescribed officers 442,480 — 316,081 25,394 101,005 — 64,236 31,969 Other Management 2,482,900 — 1,595,362 70,586 816,952 — 321,706 258,565 Total BSP awards 3,002,453 — 1,960,699 95,980 945,774 — 395,976 299,338 Notes (1) The fair value of granted awards represents the value of awards, calculated using a five -business day volume weighted average share price prior to grant date. Closed scheme, no awards granted in 2019. (2) The fair value of vested awards represents the value deemed received on settlement date. (3) The fair value of unvested awards is calculated using the closing share price as at 31 December. (4) Includes awards vested early and lapsed for CE Carter, DC Noko and CB Sheppard in accordance with their retirement dates as per scheme rules. 33 RELATED PARTIES (continued) Details of the share incentive scheme awards are included below. LTIP awards Balance at 1 January 2019 Granted Vested, deemed settled Forfeited/ Lapsed Balance at 31 December 2019 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 — — — — — — — — KC Ramon 230,595 — 56,760 63,240 110,595 — 11,315 35,003 Total executive directors 230,595 — 56,760 63,240 110,595 — 11,315 35,003 Prescribed officers SD Bailey 39,793 — 9,460 10,540 19,793 — 1,886 6,264 CE Carter (4) 230,595 — 93,205 137,390 — — 18,349 — PD Chenard — — — — — — — GJ Ehm 230,595 — 56,760 63,240 110,595 — 11,315 35,003 L Eybers 117,535 — 9,460 10,540 97,535 — 1,886 30,870 DC Noko (4) 208,850 — 85,036 123,814 — — 17,178 — S Ntuli 40,173 — 7,095 7,905 25,173 — 1,414 7,967 ME Sanz Perez 208,463 — 56,760 63,240 88,463 — 11,315 27,999 CB Sheppard (4) 213,928 — 87,220 126,708 — — 17,344 — TR Sibisi 195,971 — 56,760 63,240 75,971 — 11,315 24,045 Total prescribed officers 1,485,903 — 461,756 606,617 417,530 — 92,002 132,148 Other Management 2,099,263 — 510,922 635,904 952,437 — 101,852 301,446 Total LTIP awards 3,815,761 — 1,029,438 1,305,761 1,480,562 — 205,169 468,597 Notes (1) The fair value of granted awards represents the value of awards, calculated using a five -business day volume weighted average share price prior to grant date. Closed scheme, no awards granted in 2019. (2) The fair value of vested awards represents the value deemed received on settlement date. (3) The fair value of unvested awards is calculated using the closing share price as at 31 December. (4) Includes awards vested early and lapsed for CE Carter, DC Noko and CB Sheppard in accordance with their retirement dates as per scheme rules. 33 RELATED PARTIES (continued) CIP matched awards Balance at 1 January 2019 Granted Matched Forfeited/ Lapsed Balance at 31 December 2019 Fair value of granted awards (1) Fair value of matched awards (2) Fair value of unvested matched at 31 December 2019 (3) ZAR '000 ZAR '000 ZAR '000 Executive directors KPM Dushnisky — — — — — — — — KC Ramon 23,270 — 14,795 — 8,475 — 3,004 2,682 Total executive directors 23,270 — 14,795 — 8,475 — 3,004 2,682 Prescribed officers SD Bailey — — — — — — — — CE Carter 949 — 949 — — — 175 — PD Chenard — — — — — — — GJ Ehm (4) 16,500 — — 16,500 — — — — L Eybers 16,788 — 10,198 — 6,590 — 1,983 2,086 DC Noko (5) 15,370 — 15,370 — — — 2,974 — S Ntuli — — — — — — — — ME Sanz Perez 16,039 — 10,297 — 5,742 — 2,104 1,817 CB Sheppard (5) 14,358 — 14,358 — — — 2,855 — TR Sibisi 9,304 — 6,184 — 3,120 — 1,249 987 Total prescribed officers 89,308 — 57,356 16,500 15,452 — 11,340 4,890 Other Management — — — — — — — — Total CIP awards 112,578 — 72,151 16,500 23,927 — 14,344 7,572 Notes (1) The fair value of granted awards represents the value of awards, calculated using the original investment share price on purchase date. Closed scheme, no awards granted in 2019. (2) The fair value of matched awards represents the value received on settlement dates. (3) The fair value of unvested awards is calculated using the closing share price as at 31 December. (4) These awards lapsed for GJ Ehm in line with the scheme rules. (5) Includes awards vested early for DC Noko and CB Sheppard in accordance with their retirement dates as per scheme rules. Sign-on share awards Balance at 1 January 2019 Granted Vested deemed settled Forfeited/ Lapsed Balance at 31 December 2019 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 351,755 — 175,877 — 175,878 — 38,545 55,665 Total executive directors 351,755 — 175,877 — 175,878 — 38,545 55,665 Prescribed officers PD Chenard — 64,951 — — 64,951 13,026 — 20,557 Total prescribed officers — 64,951 — — 64,951 13,026 — 20,557 Total Sign-on share awards 351,755 64,951 175,877 — 240,829 13,026 38,545 76,222 Notes (1) The fair value of granted awards represents the value of awards, calculated using a five -business day volume weighted average share price prior to grant date. The share awards were granted on start date and will vest over a 2 -year period in equal tranches in accordance with the JSE Listing requirements. (2) The fair value of KPM Dushnisky's vested awards represents the value received on settlement dates, 20 and 21 February 2019. (3) The fair value of unvested awards is calculated using the closing share price as at 31 December. 33 RELATED PARTIES (continued) DSP awards Subsequent to year end and up to the date of this report, the following DSP awards were granted to executive directors and prescribed officers: Balance at 1 January 2019 Granted Vested, deemed settled Forfeited/ Lapsed Balance at 31 December 2019 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 — — 67,742 13,848 — 21,440 KC Ramon — 89,782 — — 89,782 18,353 — 28,416 Total executive directors — 157,524 — — 157,524 32,201 — 49,856 Prescribed officers SD Bailey — 19,196 — — 19,196 3,924 — 6,076 CE Carter — 98,451 — — 98,451 20,125 — 31,160 PD Chenard — — — — — — — — GJ Ehm — 82,037 — — 82,037 16,770 — 25,965 L Eybers — 77,380 — — 77,380 15,818 — 24,491 DC Noko — 67,548 — — 67,548 13,808 — 21,379 S Ntuli — 24,006 — — 24,006 4,907 — 7,598 ME Sanz Perez — 67,712 — — 67,712 13,842 — 21,431 CB Sheppard — 71,409 — — 71,409 14,597 — 22,601 TR Sibisi — 63,424 — — 63,424 12,965 — 20,074 Total prescribed officers — 571,163 — — 571,163 116,756 — 180,775 Other Management — 940,504 14,623 55,208 870,673 192,258 4,269 275,568 Total DSP awards — 1,669,191 14,623 55,208 1,599,360 341,215 4,269 506,199 Notes (1) The fair value of granted awards represents the value of awards, calculated using a five -business day volume weighted average share price prior to grant date, 21 February 2019. (2) The fair value of vested awards represents the value deemed received on settlement date. (3) The fair value of unvested awards is calculated using the closing share price as at 31 December. 33 RELATED PARTIES (continued) Non-Executive Director remuneration The table below details the fees and allowances paid to Non-Executive Directors: Non-Executive Directors’ fees and allowances Figures in thousands (1) Figures in thousands (1) Director fees Committee fees Travel allowance Total Total Total US Dollars (1) 2019 2019 2018 2017 SM Pityana (Chairman) 303,000 73,750 10,000 386,750 441 372 AH Garner 123,500 37,000 35,000 195,500 200 201 AM Ferguson (2) 123,500 50,500 42,500 216,500 52 — DL Hodgson (3) 33,500 13,500 — 47,000 190 167 JE Tilk (2) 123,500 47,000 60,000 230,500 — — M Ramos (4) 70,000 30,500 6,250 106,750 — — MDC Richter 123,500 71,750 35,000 230,250 235 203 MJ Kirkwood (3) 33,500 22,250 6,250 62,000 247 231 NP January-Bardill 123,500 56,000 6,250 185,750 198 180 R Gasant 123,500 63,500 6,250 193,250 229 182 RJ Ruston 123,500 56,000 38,750 218,250 261 212 Total Fees For 2019 1,304,500 521,750 246,250 2,072,500 2,053 1,748 (1) Directors' compensation is disclosed in US dollars. (2) Director's travel allowance includes travel for site induction. (3) Directors resigned effective 9 May 2019. (4) Director joined on 1 June 2019. Non-Executive Directors do not hold service contracts with the company. Executive Directors do not receive payment of directors’ fees or committee fees. The interests of directors, prescribed officers and their associates in the ordinary shares of the company at 31 December, which individually did not exceed 1% of the company’s issued ordinary share capital, were: 31 December 2019 Beneficial holding 31 December 2018 Beneficial holding 31 December 2017 Beneficial holding Direct Indirect Direct Indirect Direct Indirect Non-Executive directors SM Pityana 2,990 — 2,990 — 2,990 — MDC Richter (1) 9,300 — 9,300 — 7,300 — AH Garner (1) 17,500 — 17,500 — 7,500 — RJ Ruston (2) — 1,000 — 1,000 — 1,000 Total 29,790 1,000 29,790 1,000 17,790 1,000 Executive directors KPM Dushnisky (1) 131,730 — 50,000 — — — KC Ramon 59,124 — 51,062 — 28,265 — Total 190,854 — 101,062 — 28,265 — Company Secretary ME Sanz Perez 31,815 16,368 26,204 16,368 13,994 16,368 Total 31,815 16,368 26,204 16,368 13,994 16,368 Prescribed officers SD Bailey (1) 1,190 — — — — — GJ Ehm (2) 35,058 16,213 35,058 16,213 30,319 16,213 L Eybers 18,164 — 17,207 — 4,812 — TR Sibisi 13,283 — 9,914 — 4,085 — Total 67,695 16,213 62,179 16,213 39,216 16,213 Grand total 320,154 33,581 219,235 33,581 99,265 33,581 (1) Held on the New York stock exchange as American Depositary Shares (ADSs) ( 1 ADS is equivalent to 1 ordinary share) (2) Held on the Australian stock exchange as CHESS Depositary Receipts ( 5 CDIs are equivalent to 1 ordinary share) A register detailing Directors and Prescribed Officers’ interests in contracts is available for inspection at the company’s registered and corporate office. 33 RELATED PARTIES (continued) Directors’ and Prescribed Officers’ interests in AngloGold Ashanti shares (continued) Changes in Directors' and Prescribed Officers' interests in AngloGold Ashanti shares, excluding options and awards granted in terms of the group’s BSP and LTIP schemes, after 31 December 2019 include: Date of transaction Type of transaction Number of shares Direct/Indirect beneficial holding Executive Directors KPM Dushnisky 26 February 2020 On-market purchase in respect of the sign-on award 87,939 Direct 26 February 2020 On-market sale of ordinary shares to settle tax costs 47,488 Direct KC Ramon 27 February 2020 On-market purchase of ordinary shares pursuant to the AngloGold Ashanti Co-Investment Plan 8,475 Direct 28 February 2020 On-market sale of ordinary shares to settle tax costs 3,857 Direct 2 March 2020 On-market purchase of ordinary shares pursuant to the AngloGold Ashanti Long-Term Incentive Plan 52,234 Direct On-market sale of ordinary shares to settle tax costs 24,027 Direct Company Secretary ME Sanz Perez 27 February 2020 On-market purchase of ordinary shares pursuant to the AngloGold Ashanti Co-Investment Plan 5,742 Direct 28 February 2020 On-market sale of ordinary shares to settle tax costs 2,613 Direct 2 March 2020 On-market purchase of ordinary shares pursuant to the AngloGold Ashanti Long-Term Incentive Plan 41,781 Direct On-market sale of ordinary shares to settle tax costs 19,219 Direct Prescribed officers SD Bailey 2 March 2020 On-market purchase of ordinary shares pursuant to the AngloGold Ashanti Long-Term Incentive Plan 9,348 Direct On-market sale of ordinary shares to settle tax costs 4,300 Direct GJ Ehm 2 March 2020 On-market purchase of ordinary shares pursuant to the AngloGold Ashanti Long-Term Incentive Plan 52,234 Direct On-market sale of ordinary shares to settle tax costs 24,027 Direct L Eybers 2 March 2020 On-market purchase of ordinary shares pursuant to the AngloGold Ashanti Long-Term Incentive Plan 46,065 Direct 3 March 2020 On-market sale of ordinary shares to settle tax costs 21,190 Direct 9 March 2020 On-market purchase of ordinary shares pursuant to the AngloGold Ashanti Co-Investment Plan 6,590 Direct On-market sale of ordinary shares to settle tax costs 2,999 Direct S Ntuli 2 March 2020 On-market purchase of ordinary shares pursuant to the AngloGold Ashanti Long-Term Incentive Plan 11,889 Direct On-market sale of ordinary shares to settle tax costs 5,468 Direct TR Sibisi 2 March 2020 On-market purchase of ordinary shares pursuant to the AngloGold Ashanti Long-Term Incentive Plan 35,881 Direct On-market sale of ordinary shares to settle tax costs 16,505 Direct On-market purchase of ordinary shares pursuant to the AngloGold Ashanti Co-Investment Plan 3,120 Direct On-market sale of ordinary shares to settle tax costs 1,420 Direct |
Contractual Commitments and Con
Contractual Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of other provisions, contingent liabilities and contingent assets [Abstract] | |
Contractual Commitments and Contingencies | CONTRACTUAL COMMITMENTS AND CONTINGENCIES US Dollars Figures in millions 2019 2018 2017 Capital commitments Acquisition of tangible assets Contracted for 161 99 87 Not contracted for 426 792 113 Authorised by the directors (1) 587 891 200 Allocated to: Project capital - within one year 288 446 104 - thereafter 162 308 — 450 754 104 Stay-in-business capital - within one year 117 125 84 - thereafter 20 12 12 137 137 96 Share of underlying capital commitments of joint ventures included above 2 91 21 Purchase obligations (2) Contracted for - within one year 506 305 274 - thereafter 579 658 424 1,085 963 698 (1) Includes $59m ( 2018 : $90m ; 2017 : $54m ) relating to discontinued operations. (2) Includes $8m ( 2018 : $25m ; 2017 : $54m ) relating to discontinued operations. Purchase obligations Purchase obligations represent contractual obligations for the purchase of mining contract services, power, supplies, consumables, inventories, explosives and activated carbon. To service these capital commitments, purchase obligations and other operational requirements, the group is dependent on existing cash resources, cash generated from operations and borrowing facilities. Cash generated from operations is subject to operational, market and other risks. Distributions from operations may be subject to foreign investment, exchange control laws and regulations, and the quantity of foreign exchange available in offshore countries. In addition, distributions from joint ventures are subject to the relevant board approval. The credit facilities and other finance arrangements contain financial covenants and other similar undertakings. To the extent that external borrowings are required, the group’s covenant performance indicates that existing financing facilities will be available to meet the commitments detailed above. To the extent that any of the financing facilities mature in the near future, the group believes that sufficient measures are in place to ensure that these facilities can be refinanced. Contingencies US Dollars Figures in millions 2019 2018 2017 Contingent liabilities Litigation - Ghana (1)(2) 97 97 97 Litigation - North America (3) — — — Groundwater pollution (4) — — — Deep groundwater pollution - Africa (5) — — — 97 97 97 Litigation claims (1) Litigation - On 11 October 2011, AngloGold Ashanti (Ghana) Limited (AGAG) terminated Mining and Building Contractors Limited’s (MBC) underground development agreement, construction on bulkheads agreement and diamond drilling agreement at Obuasi mine. The parties reached agreement on the terms of the separation and concluded a separation agreement on 8 November 2012. On 20 February 2014, AGAG was served with a demand issued by MBC claiming a total of $97m . In December 2015, the proceedings were stayed in the High Court pending arbitration. In February 2016, MBC submitted the matter to arbitration. The arbitration panel has been constituted and on 26 July 2019 held an arbitration management meeting to address initial procedural matters. (2) Litigation - AGAG received a summons on 2 April 2013 from Abdul Waliyu and 152 others in which the plaintiffs allege that they were or are residents of the Obuasi municipality or its suburbs and that their health has been adversely affected by emission and/or other environmental impacts arising in connection with the current and/or historical operations of the Pompora Treatment Plant (PTP), which was decommissioned in 2000. The plaintiffs’ alleged injuries include respiratory infections, skin diseases and certain cancers. The plaintiffs subsequently did not timely file their application for directions. On 24 February 2014, executive members of the PTP (AGAG) Smoke Effect Association (PASEA), sued AGAG by themselves and on behalf of their members (undisclosed number) on grounds similar to those discussed above, as well as economic hardships as a result of constant failure of their crops. This matter has been adjourned indefinitely. In view of the limitation of current information for the accurate estimation of a liability, no reliable estimate can be made for AGAG’s obligation in either matter. (3) Litigation - On 19 October 2017, Newmont Mining Co. filed a lawsuit in the United States District Court for the Southern District of New York against AngloGold Ashanti and certain related parties, alleging that AngloGold Ashanti and such parties did not provide Newmont with certain information material to its purchase of the Cripple Creek & Victor Gold Mining Company in 2015 during the negotiation- and-sale process. During November 2019, the AngloGold Ashanti defendants filed two motions for summary judgement with the Court, requesting the dismissal of all causes of actions against all defendants. On 18 March 2020, the Court granted the motions, dismissed all causes of actions and ordered the case to be closed. Newmont Mining Co. has 30 days from the date of the order to file an appeal to the Court's decision. Tax claims For a discussion on tax claims and tax uncertainties refer to note 12. Other (4) Groundwater pollution - AngloGold Ashanti has identified groundwater contamination plumes at certain of its operations, which have occurred primarily as a result of seepage from mine residue stockpiles. Numerous scientific, technical and legal studies have been undertaken to assist in determining the magnitude of the contamination and to find sustainable remediation solutions. The group has instituted processes to reduce future potential seepage and it has been demonstrated that Monitored Natural Attenuation (MNA) by the existing environment will contribute to improvements in some instances. Furthermore, literature reviews, field trials and base line modelling techniques suggest, but have not yet proven, that the use of phyto-technologies can address the soil and groundwater contamination. Subject to the completion of trials and the technology being a proven remediation technique, no reliable estimate can be made for the obligation. (5) Deep groundwater pollution - The group has identified potential water ingress and future pollution risk posed by deep groundwater in certain underground mines in Africa. Various studies have been undertaken by AngloGold Ashanti since 1999 to understand this potential risk. In South Africa, due to the interconnected nature of mining operations, any proposed solution needs to be a combined one supported by all the mines located in these gold fields. As a result, the Mineral and Petroleum Resources Development Act (MPRDA) requires that the affected mining companies develop a Regional Mine Closure Strategy to be approved by the Department of Mineral Resources. In view of the limitation of current information for the accurate estimation of a liability, no reliable estimate can be made for the obligation. |
Financial Risk Management Activ
Financial Risk Management Activities | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of detailed information about financial instruments [abstract] | |
Financial Risk Management Activities | FINANCIAL RISK MANAGEMENT ACTIVITIES In the normal course of its operations, the group is exposed to gold price, other commodity price, foreign exchange, interest rate, liquidity, equity price (deemed to be immaterial) and credit risks. In order to manage these risks, the group may enter into transactions which make use of both on- and off-balance sheet derivatives. The group does not acquire, hold or issue derivatives for speculative purposes. The group has developed a comprehensive risk management process to facilitate, control and monitor these risks. The board has approved and monitors this risk management process, inclusive of documented treasury policies, counterparty limits and controlling and reporting structures. Managing risk in the group Risk management activities within the group are the ultimate responsibility of the board of directors. The Chief Financial Officer is responsible to the board of directors for the design, implementation and monitoring of the risk management plan. The Audit and Risk Committee is responsible for overseeing risk management plans and systems, as well as financial risks which include a review of treasury activities and the group’s counterparties. The financial risk management objectives of the group are defined as follows: • safeguarding the group’s core earnings stream from its major assets through the effective control and management of gold price risk, other commodity risk, foreign exchange risk and interest rate risk; • effective and efficient usage of credit facilities in both the short and long-term through the adoption of reliable liquidity management planning and procedures; • ensuring that investment and hedging transactions are undertaken with creditworthy counterparties; and • ensuring that all contracts and agreements related to risk management activities are co-ordinated, consistent throughout the group and that they comply where necessary with all relevant regulatory and statutory requirements. Gold price and foreign exchange risk Gold price risk arises from the risk of an adverse effect on current or future earnings resulting from fluctuations in the price of gold. The group has transactional foreign exchange exposures, which arise from sales or purchases by an operating unit in currencies other than the unit’s functional currency. The gold market is predominantly priced in US dollars which exposes the group to the risk that fluctuations in the SA rand/US dollar, Brazilian real/US dollar, Argentinean peso/US dollar and Australian dollar/US dollar exchange rates may also have an adverse effect on current or future earnings. The group is also exposed to certain by-product commodity price risk. Net open hedge position as at 31 December 2019 The group had no outstanding commitments against future production potentially settled in cash. Interest rate and liquidity risk The group manages liquidity risk by ensuring that there is sufficient committed borrowing and banking facilities after taking into consideration the actual and forecast cash flows, in order to meet the group's short, medium and long term funding and liquidity management requirements. In the ordinary course of business, the group receives cash from the proceeds of its gold sales and is required to fund its working capital and capital expenditure requirements. This cash is managed to ensure surplus funds are invested in a manner to achieve market-related returns whilst minimising risks. The group is able to actively source financing at competitive rates. The counterparties are financial and banking institutions and their credit ratings are regularly monitored. The group has sufficient undrawn borrowing facilities available to fund its working capital and capital requirements (notes 26 and 36). 35 FINANCIAL RISK MANAGEMENT ACTIVITIES (continued) The following are the contractual maturities of financial liabilities, including interest payments: Financial liabilities Within one year Between one and two years Between two and five years After five years Total 2019 $ millions Effective rate % $ millions Effective rate % $ millions Effective rate % $ millions Effective rate % $ millions Trade and other payables 586 15 — — 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 — 2.3 — 2.3 22 2.3 — — 22 - TZS in USD equivalent 6 12.5 47 12.5 — — — — 53 - ZAR in USD equivalent 6 8.1 6 8.1 77 8.1 — — 89 2018 Trade and other payables 562 — — — 562 Gold and oil derivative contracts 9 — — — 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 — — 37 - ZAR in USD equivalent 9 9.0 36 9.0 43 9.7 15 14.7 103 2017 Trade and other payables 615 — — — 615 Borrowings 137 343 1,912 695 3,087 - In USD 98 5.4 145 5.4 1,643 5.5 641 6.5 2,527 - AUD in USD equivalent 16 5.1 174 5.1 25 6.8 38 6.8 253 - ZAR in USD equivalent 23 8.9 24 8.9 244 9.1 16 15.5 307 With the implementation of IFRS 16 effective 1 January 2019 the finance lease liabilities historically included in borrowings have been reallocated to lease liabilities. The table below provides a breakdown of the contractual maturities including interest payments of the lease liabilities. Within one year Between one and two years Between two and five years After five years Total 2019 $ millions Effective rate % $ millions Effective rate % $ millions Effective rate % $ millions Effective rate % $ millions 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 — — 9 - ZAR in USD equivalent 4 9.8 4 9.8 1 9.8 — — 9 Credit risk Credit risk arises from the risk that a counterparty may default or not meet its obligations timeously. The group minimises credit risk by ensuring that credit risk is spread over a number of counterparties. These counterparties are financial and banking institutions. Counterparty credit limits and exposures are reviewed by the Audit and Risk Committee. Where possible, management ensures that netting agreements are in place. No set-off is applied to the statement of financial position due to the different maturity profiles of assets and liabilities. 35 FINANCIAL RISK MANAGEMENT ACTIVITIES (continued) The combined maximum credit risk exposure of the group is as follows: US Dollars Figures in millions 2019 2018 2017 Other investments (1) 67 59 58 Trade and other receivables 57 41 33 Cash restricted for use (note 23) 64 66 65 Cash and cash equivalents (note 24) 456 329 205 Total financial assets 644 495 361 (1) Included in other investments are amounts transferred to held for sale. Trade and other receivables, that are past due but not impaired totalled $15m (2018: $6m ; 2017: $10m ). Other investments that are impaired totalled $1m (2018: nil ; 2017: $3m ). Trade receivables mainly comprise banking institutions purchasing gold bullion. Normal market settlement terms are two working days. The group does not generally obtain collateral or other security to support financial instruments subject to credit risk, but monitors the credit standing of counterparties. Fair value of financial instruments The estimated fair values of financial instruments are determined at discrete points in time based on relevant market information. The estimated fair value of the group’s other investments and borrowings as at 31 December are as follows: Type of instrument Carrying amount Fair value Carrying amount Fair value Carrying amount Fair value US Dollar millions 2019 2018 2017 Financial assets Other investments (1) 170 170 147 147 138 140 Financial liabilities Borrowings (note 26) 2,033 2,135 2,050 2,084 2,268 2,377 (1) Included in other investments are amounts transferred to held for sale. The following methods and assumptions were used to estimate the fair value of each class of financial instrument: Cash restricted for use, cash and cash equivalents, trade and other receivables and trade and other payables The carrying amounts approximate fair value due to their short term nature. Investments and other non-current assets Listed equity investments classified as FVTOCI and FVTPL are carried at fair value in level 1 of the fair value hierarchy while fixed income investments and other non-current assets are carried at amortised cost. Borrowings The rated bonds are carried at amortised cost and their fair values are their closing market values at the reporting date (fair value hierarchy - level 1). The interest rate on the remaining borrowings is reset on a short-term floating rate basis, and accordingly the carrying amount is considered to approximate fair value. Fair value hierarchy The group uses the following hierarchy for determining and disclosing the fair value of financial instruments: Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilities; Level 2: inputs other than quoted prices included in level 1 that are observable for the asset or liability, either directly (as prices) or indirectly (derived from prices); and Level 3: inputs for the asset or liability that are not based on observable market data (unobservable inputs). 35 FINANCIAL RISK MANAGEMENT ACTIVITIES (continued) The following table sets out the group’s financial assets measured at fair value by level within the fair value hierarchy as at 31 December: Type of instrument Assets measured at fair value on a recurring basis US Dollar millions Level 1 Level 2 Level 3 Total 2019 Equity securities - FVTPL (1) 21 — — 21 Equity securities - FVTOCI 82 — — 82 2018 Equity securities - FVTPL 19 — — 19 Equity securities - FVTOCI 69 — — 69 2017 Equity securities - available-for-sale 80 — — 80 (1) Included in equity securities - FVTPL are amounts transferred to held for sale. Environmental obligations Pursuant to environmental regulations in the countries in which we operate, we are obligated to close our operations and rehabilitate the lands which we mine in accordance with these regulations. As a consequence, AngloGold Ashanti is required in some circumstances to provide either reclamations bonds issued by third party entities, establish independent trust funds or provide guarantees issued by the operation to the respective environmental protection agency or such other government department with responsibility for environmental oversight in the respective country to cover the potential environmental rehabilitation obligation in specified amounts. In most cases, the environmental obligations will expire on completion of the rehabilitation although in some cases we are required to potentially post bonds for events unknown that may arise after the rehabilitation has been completed. In Australia, since 2014, the group has paid an amount of AUD $6.8m into a Mine Rehabilitation Fund for a current carrying value of the liability of AUD $137.9m . At Iduapriem the group has provided a bond comprised of a cash component of $9.99m with a further bond guarantee amounting to $36.6m issued by Ecobank Ghana Limited, United Bank for Africa (Ghana) Limited and Barclays Ghana Limited for a current carrying value of the liability of $46.3m . At Obuasi the group has provided a bond comprised of a cash component of $20.6m with a further bank guarantee amounting to $30m issued by Nedbank Limited for a current carrying value of the liability of $186.3m . In some circumstances, the group may be required to post further bonds in future years, which will result in a consequential income statement charge for the fees charged by the providers of the reclamation bonds. In South Africa, AngloGold Ashanti has established a trust fund which has assets of ZAR 1.156b n and guarantees of ZAR 0.549b n issued by various banks, for a current carrying value of the liability of ZAR 0.897b n. The fund, guarantees and liability form part of the South African disposal group and have been transferred to held for sale. Refer to note 9. 35 FINANCIAL RISK MANAGEMENT ACTIVITIES (continued) Sensitivity analysis Interest rate risk on other financial assets and liabilities (excluding derivatives) The group also monitors interest rate risk on other financial assets and liabilities. The following table shows the approximate interest rate sensitivities of other financial assets and liabilities at 31 December (actual changes in the timing and amount of the following variables may differ from the assumed changes below). As the sensitivity is the same (linear) for both increases and decreases in interest rates only absolute numbers are presented. 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 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 AUD denominated 150 1 1 BRL denominated 250 2 1 Financial liabilities TZS denominated 250 1,680 1 ZAR denominated (2) 150 14 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 2017 Financial assets USD denominated 100 1 1 ZAR denominated (1)(2) 150 2 — Financial liabilities ZAR denominated (2) 150 41 3 AUD denominated 100 3 2 (1) A change of 100 basis points in financial assets results in less than a $1m change in the interest amount. (2) This is the only interest rate risk for the company. 35 FINANCIAL RISK MANAGEMENT ACTIVITIES (continued) Foreign exchange risk Foreign exchange risk arises on financial instruments that are denominated in a foreign currency. The following table discloses the approximate foreign exchange risk sensitivities of borrowings at 31 December (actual changes in the timing and amount of the following variables may differ from the assumed changes below). Change in Change in Change in Change in Change in Change in US$ Million US$ Million US$ Million 2019 2018 2017 Borrowings ZAR denominated (R/$) Spot (+R1.50) (7 ) Spot (+R1.50) (7 ) Spot (+R1.50) (26 ) TZS denominated (TZS/$) Spot (+TZS250) (5 ) Spot (+TZS250) (3 ) AUD denominated (AUD/$) Spot (+AUD0.1) (1 ) Spot (+AUD0.1) (3 ) Spot (+AUD0.1) (16 ) ZAR denominated (R/$) Spot (-R1.50) 9 Spot (-R1.50) 9 Spot (-R1.50) 33 TZS denominated (TZS/$) Spot (-TZS250) 6 Spot (-TZS250) 4 AUD denominated (AUD/$) Spot (-AUD0.1) 1 Spot (-AUD0.1) 4 Spot (-AUD0.1) 19 The borrowings total in the denominated currency will not be influenced by a movement in its exchange rate. |
Capital Management
Capital Management | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure Of Additional Information [Abstract] | |
Capital Management | CAPITAL MANAGEMENT The primary objective of managing the group's capital is to ensure that there is sufficient capital available to support the funding requirements of the group, including capital expenditure, in a way that optimises the cost of capital, maximises shareholders' returns and ensures that the group remains in a sound financial position. The capital structure of the group consists of net debt (borrowings as detailed in note 26, offset by cash and bank balances detailed in note 24) and equity of the group (comprising share capital and premium and accumulated reserves and non-controlling interests). The group manages and makes adjustments to the capital structure as opportunities arise in the market place, as and when borrowings mature, or as and when funding is required. This may take the form of raising equity, market or bank debt or hybrids thereof. The group manages capital using various financial metrics including the ratio of net debt to Adjusted EBITDA (gearing). Both the calculation of net debt and Adjusted EBITDA are based on the formula included in the Revolving Credit Agreements. The loan covenant ratio of net debt to Adjusted EBITDA should not exceed 3.5 times. The facility also makes provision for the ability of the group to have a leverage ratio of greater than 3.5 times but less than 4.5 times, subject to certain conditions, for one measurement period not exceeding six months, during the tenor of the facility. The group had no major issuance of equity during the year. During January 2019 the $35m Geita revolving credit facility, entered into in August 2016 was combined with the existing $115m Geita revolving credit facility. The combined $150m revolving credit facility with Nedbank Ltd consists of a US dollar and Tanzanian Shilling facility. Facility A is a US dollar-based facility with interest charged at a margin of 6.7% above LIBOR and facility B is a Tanzanian Shilling facility capped at the equivalent of $45m with interest charged at a margin of 5% plus a reference rate as determined by the lending agent. During February 2019 the $65m Siguiri revolving credit facility entered into in August 2016 was renewed for a further 3 years and matures on 27 February 2022. The facility bears interest at 8% above LIBOR, subject to a ratings grid and is US dollar-based. A full analysis of the borrowings as presented on the statement of financial position in included in note 26. I n addition, the following details are also relevant to the borrowings at 31 December 2019: The $750m , $700m and $300m rated bonds are fully and unconditionally guaranteed by the group. The interest margin on the five -year unsecured multi-currency syndicated revolving credit facility of $1.4b n with a group of banks will reduce should the group’s credit rating improve from its current BB+/Baa3 status and should increase if its credit rating worsens. The A $500m portion of this facility will be used to fund the working capital and development costs associated with the group's mining operations within Australia without eroding the group's headroom under its other facilities and exposing the group to foreign exchange gains/losses each quarter. The R 1b n, R 1.4b n and R 2.5b n unsecured syndicated revolving credit facilities will be used to fund the working capital and development costs associated with the group's operations within South Africa without eroding the group's headroom under its other facilities and exposing the group to foreign exchange gains/losses each quarter. Amounts are converted to US dollars at year end exchange rates. Gearing ratio (Adjusted Net debt to Adjusted EBITDA) US Dollars Figures in millions 2019 2018 2017 Adjusted net debt from continuing operations Borrowings - non-current portion (note 26) 1,299 1,911 2,230 Lease liabilities - non-current portion (note 16) 126 Borrowings - current portion (note 26) 734 139 38 Lease liabilities - current portion (note 16) 45 — — Total borrowings 2,204 2,050 2,268 Less cash and cash equivalents (note 24) (456 ) (329 ) (205 ) Net debt 1,748 1,721 2,063 Adjustments: IFRS16 lease adjustments (119 ) Corporate office lease (9 ) (15 ) Unamortised portion of borrowing costs 16 13 18 Cash restricted for use (note 23) (64 ) (66 ) (65 ) Adjusted net debt 1,581 1,659 2,001 The Adjusted EBITDA calculation included in this note is based on the formula included in the Revolving Credit Facility Agreements for compliance with the debt covenant formula. Adjusted EBITDA from continuing operations Profit (loss) before taxation 619 445 328 Add back: Finance costs and unwinding of obligations (note 7) 172 168 157 Interest income (14 ) (8 ) (8 ) Amortisation of tangible, intangible and right of use assets (note 4) 583 558 690 Other amortisation 6 11 3 Associates and joint ventures’ adjustments for amortisation, interest, taxation and other 149 158 117 EBITDA 1,515 1,332 1,287 Adjustments: Foreign exchange losses 12 9 11 Dividend income — (2 ) — Retrenchment and related costs 7 4 9 Care and maintenance costs (note 6) 47 39 62 Impairment, derecognition of assets and (profit) loss on disposal 6 7 2 (Gain) loss on non-hedge derivatives and other commodity contracts (5 ) 2 — Associates and joint ventures’ special items (2 ) (3 ) (2 ) Adjusted EBITDA (as defined in the Revolving Credit Agreements) 1,580 1,388 1,369 Gearing ratio (Adjusted Net debt to Adjusted EBITDA) 1.00:1 1.20:1 1.46:1 Maximum debt covenant ratio allowed per agreement 3.5:1 3.5:1 3.5:1 |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of events after reporting period [Abstract] | |
Subsequent Events | SUBSEQUENT EVENTS Sale of South African assets: On 12 February 2020, AngloGold Ashanti announced that it has reached an agreement to sell its remaining South African producing assets and related liabilities to Harmony Gold Mining Company Limited. Consideration for the transaction is in cash and deferred payments with expected proceeds of around $300m , subject to subsequent performance and with additional proceeds if the West Wits assets are developed below current infrastructure. Refer to note 9. Dividend declaration: On 21 February 2020, the directors of AngloGold Ashanti declared a gross cash dividend per ordinary share of 165 South African cents (assuming an exchange rate of ZAR 15 /$, the gross dividend payable per ADS is equivalent to ~ 11 US cents). COVID-19 pandemic: At the date of approval of these consolidated annual financial statements, the SARS-CoV-2 virus responsible for COVID-19 continues to spread across the globe, contributing to a sharp decline in global financial markets and a significant decrease in global economic activity. On 11 March 2020, the COVID-19 outbreak was declared a global pandemic by the World Health Organization and has since then resulted in numerous governments and companies, including AngloGold Ashanti, introducing a variety of measures to contain the spread of the virus. To date, we have taken a number of proactive steps to protect our employees, our host communities and business, in line with the company’s values, guidelines and advice provided by the WHO and with the requirements of the countries in which we operate. Cases of the outbreak have been reported in all of the jurisdictions in which we operate, and it may lead to a prolonged restriction on the movement of people and continued requirement for people to self-isolate or be quarantined. Any self-imposed or government-mandated temporary lockdowns may disrupt the company’s activities and operations and even lead to a full or partial temporary suspension of the company’s mining operations in those jurisdictions. On 21 March 2020, following the Argentinian government’s decision to impose a nationwide lockdown (quarantine) until 31 March 2020, including temporary travel restrictions, border closings and suspension of most industries, Cerro Vanguardia S.A. (CVSA) was required to temporarily suspend mining activities. On 23 March 2020, the South African government announced a 21-day nationwide lockdown, effective from midnight on 26 March 2020, resulting in the temporary suspension of mining activities of the company’s South African operations particularly Mponeng, and the partial suspension of mining activities at Mine Waste Solutions (MWS) and Surface Operations. On 26 March 2020, the State of Goiás, in Brazil, extended a set of restrictions on the operation of non-essential business, to include mining. These restrictions are set to run through 4 April 2020. Mineração Serra Grande (MSG) S.A. will temporarily suspend its operations. The current impact of all of the suspended operations is expected to be about 30,000 oz to 40,000 oz, or less than 2% of annual production. In these countries, the suspension of mining activities will continue for the period during which the respective restrictions remain in force. While minimal operational disruptions have occurred at the company’s other operations to date, the company may experience temporary disruptions in supply chain and logistics across its operations in the coming months should the pandemic be prolonged. Such disruptions, which include restrictions in travel and border access, may impact the company’s ability to source and transport goods and services required to operate mines and to transport gold doré to refineries. Furthermore, should COVID-19 spread among the company’s workforce, it may lead to a full or partial temporary suspension of the company’s operating mines in those affected areas. Given the uncertainties with respect to future developments, including duration, severity and scope of the COVID-19 pandemic and the necessary government responses to limiting its spread, the board has decided to withdraw its market guidance for 2020 published as part of its preliminary condensed consolidated financial results on 21 February 2020, at this time. In anticipation of a prolonged negative impact from the COVID-19 pandemic, on 18 March 2020, the company accelerated a drawdown of $900m on its $1.4b n Multi-currency RCF to redeem the $700m 5.375% bonds maturing on 15 April 2020 and to have sufficient cash available to manage ongoing working capital requirements. The company drew down a further $450m , on the remainder of its $1.4b n Multi-currency RCF which was received on 27th March 2020. After the drawdowns, the company's cash on hand exceeds $1.8b n (excluding cash lock-up positions at Kibali and Sadiola, where AnglGold Ashanti's combined share totals $300m ). Management will continue to take a prudent and proactive approach to managing the group’s liquidity, which may include procuring additional credit facilities or debt over and above its current facilities. |
Supplemental Condensed Consolid
Supplemental Condensed Consolidating Financial Information | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure Of Additional Information [Abstract] | |
Supplemental Condensed Consolidating Financial Information | SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION AngloGold Ashanti Holdings plc (“IOMco”), a 100 percent wholly-owned subsidiary of AngloGold Ashanti Limited, has issued debt securities which are fully and unconditionally guaranteed by AngloGold Ashanti Limited (being the “Guarantor”). See Note 26 and Note 34. IOMco is an Isle of Man registered company that holds certain of AngloGold Ashanti’s operations and assets located outside South Africa (excluding certain operations and assets in the United States of America). The following is condensed consolidating financial information for the Company as of 31 December 2019 , 2018 and 2017 and for the years ended 31 December 2019, 2018 and 2017, with a separate column for each of AngloGold Ashanti Limited as Guarantor, IOMco as Issuer and the other subsidiaries of the Company combined (the “Non-Guarantor Subsidiaries”). For the purposes of the condensed consolidating financial information, the Company carries its investments under the equity method. The following supplemental condensed consolidating financial information should be read in conjunction with the Company’s condensed consolidated financial statements. 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 — — 3,525 — 3,525 Cost of sales (1 ) — (2,625 ) — (2,626 ) Gain (loss) on non-hedge derivatives and other commodity contracts — — 5 — 5 Gross profit (loss) (1 ) — 905 — 904 Corporate administration, marketing and other income (expenses) (41 ) (6 ) (17 ) (18 ) (82 ) Exploration and evaluation costs — — (112 ) — (112 ) Impairment, derecognition of assets and profit (loss) on disposal — (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 — 14 Foreign exchange losses — (4 ) (8 ) — (12 ) Finance costs and unwinding of obligations (16 ) (106 ) (56 ) 6 (172 ) Share of associates and joint ventures’ profit (loss) — — 154 14 168 Equity gain (loss) in subsidiaries 302 815 — (1,117 ) — Profit (loss) before taxation 237 705 1,000 (1,323 ) 619 Taxation 32 — (282 ) — (250 ) Profit (loss) after taxation from continuing operations 269 705 718 (1,323 ) 369 Discontinued operations Profit (loss) from discontinued operations (281 ) — (95 ) — (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 ) — (95 ) — (376 ) Non-controlling interests - Continuing operations — — 5 — 5 (12 ) 705 623 (1,323 ) (7 ) Comprehensive income (loss) 2 717 618 (1,330 ) 7 Comprehensive (income) loss attributable to non-controlling interests — — (5 ) — (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 (restated) AngloGold Ashanti (the “Guarantor”) IOMco (the “Issuer”) Other subsidiaries (the “Non-Guarantor Subsidiaries”) Consolidation adjustments Total Revenue from product sales — — 3,336 — 3,336 Cost of sales (2 ) — (2,582 ) — (2,584 ) Gain (loss) on non-hedge derivatives and other commodity contracts — — (2 ) — (2 ) Gross profit (loss) (2 ) — 752 — 750 Corporate administration, marketing and other income (expenses) (12 ) (20 ) (13 ) (31 ) (76 ) Exploration and evaluation costs — — (98 ) — (98 ) Impairment, derecognition of assets and profit (loss) on disposal — 1 (9 ) 1 (7 ) Other income (expenses) (10 ) 10 (70 ) (9 ) (79 ) Operating profit (loss) (24 ) (9 ) 562 (39 ) 490 Interest income — 4 4 — 8 Dividend received 2 — — — 2 Foreign exchange losses — (6 ) (3 ) — (9 ) Finance costs and unwinding of obligations (16 ) (107 ) (45 ) — (168 ) Share of associates and joint ventures’ profit (loss) 5 — 108 9 122 Equity gain (loss) in subsidiaries 142 490 — (632 ) — Profit (loss) before taxation 109 372 626 (662 ) 445 Taxation 23 — (235 ) — (212 ) Profit (loss) after taxation from continuing operations 132 372 391 (662 ) 233 Discontinued operations Profit (loss) from discontinued operations 1 — (84 ) — (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 — (84 ) — (83 ) Non-controlling interests - Continuing operations — — 17 — 17 133 372 307 (662 ) 150 Comprehensive income (loss) (8 ) 320 301 (604 ) 9 Comprehensive (income) loss attributable to non-controlling interests — — (17 ) — (17 ) Comprehensive income (loss) attributable to AngloGold Ashanti (8 ) 320 284 (604 ) (8 ) Figures in millions (US dollars) 2017 2017 2017 2017 2017 Condensed consolidating income statement (restated) AngloGold Ashanti (the “Guarantor”) IOMco (the “Issuer”) Other subsidiaries (the “Non-Guarantor Subsidiaries”) Consolidation adjustments Total Revenue from product sales — — 3,424 (30 ) 3,394 Cost of sales (2 ) — (2,606 ) 1 (2,607 ) Gain (loss) on non-hedge derivatives and other commodity contracts — — — — — Gross profit (loss) (2 ) — 818 (29 ) 787 Corporate administration, marketing and other income (expenses) (7 ) (7 ) (2 ) (48 ) (64 ) Exploration and evaluation costs (1 ) — (104 ) — (105 ) Impairment, derecognition of assets and profit (loss) on disposal — 2 (4 ) — (2 ) Other income (expenses) (71 ) (8 ) (79 ) 8 (150 ) Operating profit (loss) (81 ) (13 ) 629 (69 ) 466 Interest income 1 3 4 — 8 Foreign exchange losses — 1 (12 ) — (11 ) Finance costs and unwinding of obligations (14 ) (107 ) (36 ) — (157 ) Share of associates and joint ventures’ profit (loss) 13 — 9 — 22 Equity gain (loss) in subsidiaries 212 447 — (659 ) — Profit (loss) before taxation 131 331 594 (728 ) 328 Taxation 32 — (195 ) — (163 ) Profit (loss) after taxation from continuing operations 163 331 399 (728 ) 165 Discontinued operations Profit (loss) from discontinued operations (324 ) — (12 ) — (336 ) Profit (loss) after discontinued operations (161 ) 331 387 (728 ) (171 ) Preferred stock dividends (30 ) — — 30 — Profit (loss) for the period (191 ) 331 387 (698 ) (171 ) Allocated as follows: Equity shareholders - Continuing operations 133 331 379 (698 ) 145 - Discontinued operations (324 ) — (12 ) — (336 ) Non-controlling interests - Continuing operations — — 20 — 20 (191 ) 331 387 (698 ) (171 ) Comprehensive income (loss) (37 ) 365 422 (767 ) (17 ) Comprehensive (income) loss attributable to non-controlling interests — — (20 ) — (20 ) Comprehensive income (loss) attributable to AngloGold Ashanti (37 ) 365 402 (767 ) (37 ) 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 and right of use assets 4 — 2,740 6 2,750 Intangible assets 1 — 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 — — 93 — 93 Trade and other receivables — 29 122 (29 ) 122 Deferred taxation 105 — — — 105 Cash restricted for use — — 31 — 31 2,758 4,643 4,642 (7,162 ) 4,881 Current assets Other investments — 10 — — 10 Inventories, trade and other receivables, intergroup balances and other current assets 333 619 1,247 (1,317 ) 882 Cash restricted for use — — 33 — 33 Cash and cash equivalents 12 102 342 — 456 345 731 1,622 (1,317 ) 1,381 Assets held for sale 253 — 348 — 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 — — 36 — 36 Total equity 2,640 3,381 2,541 (5,886 ) 2,676 Non-current liabilities 225 1,031 1,222 — 2,478 Current liabilities including intergroup balances 401 962 2,667 (2,593 ) 1,437 Liabilities held for sale 90 — 182 — 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 — 2,756 — 3,381 Intangible assets 1 — 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 — 105 — 106 Trade and other receivables — 29 102 (29 ) 102 Cash restricted for use — — 35 — 35 3,012 4,287 4,657 (6,540 ) 5,416 Current assets Other investments — 6 — — 6 Inventories, trade and other receivables, intergroup balances and other current assets 390 416 1,166 (1,111 ) 861 Cash restricted for use — — 31 — 31 Cash and cash equivalents 7 97 225 — 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 — — 42 — 42 Total equity 2,652 2,786 2,269 (5,013 ) 2,694 Non-current liabilities 319 1,734 1,103 — 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) 2017 2017 2017 2017 2017 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 739 — 3,003 — 3,742 Intangible assets 1 — 139 (2 ) 138 Investments in subsidiaries, associates and joint ventures 2,371 4,376 1,371 (6,611 ) 1,507 Other investments 2 6 125 (2 ) 131 Inventories — — 100 — 100 Trade and other receivables — 29 67 (29 ) 67 Deferred taxation — — 4 — 4 Cash restricted for use — — 37 — 37 3,113 4,411 4,846 (6,644 ) 5,726 Current assets Other investments — 6 1 — 7 Inventories, trade and other receivables, intergroup balances and other current assets 471 145 1,166 (877 ) 905 Cash restricted for use — 1 27 — 28 Cash and cash equivalents 11 21 173 — 205 482 173 1,367 (877 ) 1,145 Assets held for sale 310 — 38 — 348 792 173 1,405 (877 ) 1,493 Total assets 3,905 4,584 6,251 (7,521 ) 7,219 EQUITY AND LIABILITIES Share capital and premium 7,134 6,096 824 (6,920 ) 7,134 Retained earnings (accumulated losses) and other reserves (4,471 ) (3,491 ) 1,619 1,872 (4,471 ) Shareholders’ equity 2,663 2,605 2,443 (5,048 ) 2,663 Non-controlling interests — — 41 — 41 Total equity 2,663 2,605 2,484 (5,048 ) 2,704 Non-current liabilities 527 1,764 1,369 — 3,660 Current liabilities including intergroup balances 591 215 2,396 (2,473 ) 729 Liabilities held for sale 124 — 2 — 126 Total liabilities 1,242 1,979 3,767 (2,473 ) 4,515 Total equity and liabilities 3,905 4,584 6,251 (7,521 ) 7,219 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 ) — Dividends received from joint ventures — 77 — — 77 Taxation refund — — 7 — 7 Taxation paid — — (228 ) — (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 — 31 — 89 Net cash inflow (outflow) from operating activities 34 (136 ) 1,152 (3 ) 1,047 Cash flows from investing activities Capital expenditure — — (703 ) — (703 ) Interest capitalised and paid — — — (6 ) (6 ) Proceeds from disposal of tangible assets — — 3 — 3 Other investments acquired — — (9 ) — (9 ) Proceeds from disposal of other investments — — 3 — 3 Investments in associates and joint ventures — — (5 ) — (5 ) Net loans repaid by (advanced to) associates and joint ventures 17 4 (1 ) — 20 Disposal (acquisition) of subsidiaries — (8 ) 8 — — Increase in investment in subsidiary (16 ) — — 16 — Interest received 3 5 6 — 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 ) — (8 ) — (54 ) Cash in subsidiaries sold and transferred to held for sale — — (6 ) — (6 ) Net cash inflow (outflow) from investing activities (42 ) 1 (712 ) 10 (743 ) Cash flows from financing activities Increase in share capital — — 16 (16 ) — Proceeds from borrowings 130 — 38 — 168 Repayment of borrowings (124 ) — (41 ) — (165 ) Finance costs paid (10 ) (102 ) (31 ) 6 (137 ) Bond settlement premium, RCF and bond transaction costs — — — — — Dividends paid (28 ) — (15 ) — (43 ) Intergroup dividends received (paid) 44 242 (286 ) — — 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 — — — — — 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 — (4 ) 3 — Cash and cash equivalents at beginning of year 7 97 225 — 329 Cash and cash equivalents at end of year 12 102 342 — 456 Figures in millions (US dollars) 2018 2018 2018 2018 2018 Condensed consolidating statement of cash flow (restated) 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 — Dividends received from joint ventures — 91 — — 91 Taxation refund — — 5 — 5 Taxation paid — — (171 ) — (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 ) — 28 — 1 Net cash inflow (outflow) from operating activities (47 ) (142 ) 1,026 20 857 Cash flows from investing activities Capital expenditure — — (575 ) — (575 ) Proceeds from disposal of tangible assets — — 4 6 10 Dividends from other investments 2 — — — 2 Other investments acquired — — (13 ) — (13 ) Proceeds from disposal of other investments — — 7 — 7 Investments in associates and joint ventures — — (8 ) — (8 ) Net loans repaid by (advanced to) associates and joint ventures 9 10 (2 ) — 17 Disposal (acquisition) of subsidiaries — (7 ) 7 — — Decrease (increase) in cash restricted for use — 1 (6 ) (1 ) (6 ) Interest received — 1 4 — 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 — 19 — 226 Net cash inflow (outflow) from investing activities 218 5 (563 ) 5 (335 ) Cash flows from financing activities Proceeds from borrowings 407 45 301 — 753 Repayment of borrowings (570 ) (80 ) (317 ) — (967 ) Finance costs paid (12 ) (102 ) (16 ) — (130 ) Bond settlement premium, RCF and bond transaction costs — (10 ) — — (10 ) Dividends paid (24 ) — (15 ) — (39 ) Intergroup dividends received (paid) 25 360 (386 ) 1 — 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 — — — — — 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 ) — 22 (26 ) (5 ) Cash and cash equivalents at beginning of year 11 21 173 — 205 Cash and cash equivalents at end of year 7 97 225 — 329 Figures in millions (US dollars) 2017 2017 2017 2017 2017 Condensed consolidating statement of cash flow (restated) 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 (61 ) (15 ) 1,140 3 1,067 Net movement in intergroup receivables and payables 10 (102 ) 123 (31 ) — Dividends received from joint ventures — 6 — — 6 Taxation refund 3 — 11 — 14 Taxation paid — — (174 ) — (174 ) Net cash inflow (outflow) from operating activities from continuing operations (48 ) (111 ) 1,100 (28 ) 913 Net cash inflow (outflow) from operating activities from discontinued operations 56 — 28 — 84 Net cash inflow (outflow) from operating activities 8 (111 ) 1,128 (28 ) 997 Cash flows from investing activities Capital expenditure (1 ) — (674 ) — (675 ) Proceeds from disposal of tangible assets — — 3 — 3 Other investments acquired — (5 ) (3 ) — (8 ) Proceeds from disposal of other investments — — — 3 3 Investments in associates and joint ventures — (15 ) (14 ) 2 (27 ) Net loans repaid by (advanced to) associates and joint ventures — (6 ) 2 (2 ) (6 ) Reduction in investment in subsidiary 42 — — (42 ) — Disposal (acquisition) of subsidiaries — (2 ) 2 — — Decrease (increase) in cash restricted for use — — (8 ) — (8 ) Interest received — 3 4 — 7 Net cash inflow (outflow) from investing activities from continuing operations 41 (25 ) (688 ) (39 ) (711 ) Net cash inflow (outflow) from investing activities from discontinued operations (139 ) — (12 ) — (151 ) Net cash inflow (outflow) from investing activities (98 ) (25 ) (700 ) (39 ) (862 ) Cash flows from financing activities Reduction in share capital — (43 ) — 43 — Proceeds from borrowings 539 155 121 — 815 Repayment of borrowings (428 ) (170 ) (169 ) — (767 ) Finance costs paid (15 ) (103 ) (20 ) — (138 ) Dividends paid (39 ) — (19 ) — (58 ) Intergroup dividends received (paid) — 286 (286 ) — — Net cash inflow (outflow) from financing activities from continuing operations 57 125 (373 ) 43 (148 ) Net cash inflow (outflow) from financing activities from discontinued operations — — — — — Net cash inflow (outflow) from financing activities 57 125 (373 ) 43 (148 ) Net increase (decrease) in cash and cash equivalents (33 ) (11 ) 55 (24 ) (13 ) Translation — — (21 ) 24 3 Cash and cash equivalents at beginning of year 44 32 139 — 215 Cash and cash equivalents at end of year 11 21 173 — 205 |
Accounting Policies (Policies)
Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of significant accounting policies [Abstract] | |
Statement of compliance | Statement of compliance The consolidated and company financial statements are prepared in compliance with International Financial Reporting Standards (IFRS) and Interpretations of those standards, as issued by the International Accounting Standards Board (IASB), Financial Reporting Pronouncements as issued by Financial Reporting Standards Council, JSE Listings Requirements and in the manner required by the South African Companies Act, 2008. |
New standards and interpretations issued | New standards and interpretations issued The financial statements have been drawn up on the basis of accounting standards, interpretations and amendments effective at the beginning of the accounting period on 1 January 2019. The adoption of the new standards, interpretations and amendments effective from 1 January 2019 had the following impact on the group: IFRS 16 Leases The group elected to apply IFRS 16 utilising the modified retrospective approach, no cumulative effect of initially applying IFRS 16 was identified and recognised as an adjustment to the opening balance of retained earnings. The cumulative impact on the adoption of IFRS 16 resulted in the recognition of right of use assets, lease liabilities and the resultant deferred tax. Refer to Note 16 for the detail on the right of use assets and lease liabilities. Comparative information has not been restated. For contracts previously classified as leases under IAS 17 Leases, the group has reassessed whether the contract is or contains a lease upon initial transition to the new standard and has also performed an assessment to identify significant contracts which have not previously classified as leases, but which may be a lease under the new standard. The group applied the following practical expedients upon transition to IFRS 16: Transition options: • Leases with a remaining contract period of less than 12 months will not be recorded on the statement of financial position and the lease payments will be expensed in the income statement on a straight-line basis. • The right-of-use asset is based on the lease liability recognised. Practical expedients: • The short-term lease exemption - leases with a duration of one year or less will be expensed in the income statement on a straight-line basis. • The low value lease exemption - the group has elected to take the low value exemption with a value of $10k for the individual leased asset value. Further, the group has added an exception within its accounting policy to not capitalise leases with a net present value of $250 k based on an IAS 1 materiality assessment. • Exclusion of initial direct costs for the measurement of the right of use asset at the date of initial application. • Use of hindsight in determining the lease term where the contract contains options to extend or terminate the lease. The leases accounting policy applicable from 1 January 2019 is included under “Leases” in Annexure A. |
Basis of Preparation | BASIS OF PREPARATION The financial statements are prepared according to the historical cost convention, except for the revaluation of certain financial instruments to fair value. The group’s accounting policies as set out below are consistent in all material respects with those applied in the previous year except for the changes arising from the adoption of IFRS 16 as described in “New Standards and Interpretations Issued” above. The comparative periods have been restated to separate continuing operations from discontinued operations in accordance with IFRS 5 Non-current Assets Held for Sale and Discontinued Operations, as a consequence of the classification of the sale of the South African producing assets and related liabilities as a discontinued operation. The sale agreement was announced on 12 February 2020. The group financial statements are presented in US dollars. Based on materiality, certain comparatives in the notes have been aggregated and comparatives have been restated to accord with current year disclosures. All notes are from continuing operations unless otherwise stated. The group financial statements incorporate the financial statements of the company, its subsidiaries and its interests in joint ventures and associates. The financial statements of all material subsidiaries, the Environmental Rehabilitation Trust Fund, joint ventures and associates, are prepared for the same reporting period as the holding company, using the same accounting policies. Subsidiaries are all entities over which the group has control. The group controls an entity when it is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. Control would generally exist where the group owns more than 50% of the voting rights, unless the group and other investors collectively control the entity where they must act together to direct the relevant activities. In such cases, as no investor individually controls the entity, the investment is accounted for as an associate, joint venture or a joint operation. Subsidiaries are fully consolidated from the date on which control is transferred to the group. They are deconsolidated from the date on which control ceases. The group re-assesses whether or not it controls an investee if facts and circumstances indicate that there are changes to one or more of the three elements of control. Intra-group transactions, balances and unrealised gains and losses on transactions between group companies, including any resulting tax effects are eliminated. |
Use of estimates | Use of estimates The preparation of the financial statements requires the group’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. The determination of estimates requires the exercise of judgement based on various assumptions and other factors such as historical experience, current and expected economic conditions, and in some cases actuarial techniques. Actual results could differ from those estimates. The more significant areas requiring the use of management estimates and assumptions relate to Ore Reserve which is the basis of future cash flow estimates and unit-of-production depreciation, depletion and amortisation calculations; environmental, reclamation and closure obligations; asset impairments/reversals (including impairments of goodwill); recoverability of indirect taxes; and write-downs of inventory to net realisable value. Other estimates include employee benefit liabilities and unrecognised tax positions. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The judgements that management has applied in the application of accounting policies, and the estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year, are discussed below. |
Carrying value of tangible assets | Carrying value of tangible assets Amortisation The majority of mining assets are amortised using the units-of-production method where the mine operating plan calls for production from a well-defined proved and probable Ore Reserve. For other tangible assets, the straight-line method is applied over the estimated useful life of the asset which does not exceed the estimated mine life based on proved and probable Ore Reserve as the useful lives of these assets are considered to be limited to the life of the relevant mine. The calculation of the units-of-production rate of amortisation could be impacted to the extent that actual production in the future is different from current forecast production based on proved and probable Ore Reserve. This would generally arise from the following factors: • changes in proved and probable Ore Reserve; • variations in the grade of Ore Reserve, which may be significant from time to time; • differences between actual commodity prices and commodity price assumptions; • unforeseen operational issues at mine sites; and • changes in capital, operating, mining, processing and reclamation costs, discount rates and foreign exchange rates. Changes in proved and probable Ore Reserve could similarly impact the useful lives of assets amortised on the straight-line method, where those lives are limited to the life of the mine. Stripping costs The group has a number of surface mining operations that are in the production phase for which production stripping costs are incurred. The benefits that accrue to the group as a result of incurring production stripping costs include (a) ore that can be used to produce inventory and (b) improved access to further quantities of material that will be mined in future periods. The production stripping costs relating to improved access to further quantities of material in future periods are capitalised as a stripping activity asset, if and only if, all of the following are met: • It is probable that the future economic benefit (improved access to the orebody) associated with the stripping activity will flow to the group; • The group can identify the component of the orebody for which access has been improved; and • The costs relating to the stripping activity associated with that component or components can be measured reliably. Components of the various orebodies at the operations of the group are determined based on the geological areas identified for each of the orebodies and are reflected in the Ore Reserve reporting of the group. In determining whether any production stripping costs should be capitalised as a stripping activity asset, the group uses three operational guidance measures; two of which relate to production measures, while the third relates to an average stripping ratio measure. Once determined that any portion of the production stripping costs should be capitalised, the group determines the amount of the production stripping costs that should be capitalised with reference to the average mine costs per tonne of the component and the actual waste tonnes that should be deferred. Stripping activity assets are amortised on the units-of-production method based on the Ore Reserve of the component or components of the orebody to which these assets relate. This accounting treatment is consistent with that for stripping costs incurred during the development phase of a pit, before production commences, except that stripping costs incurred during the development phase of a pit, before production commences, are amortised on the units-of-production method based on the Ore Reserve of the pit. Deferred stripping costs are included in ‘Mine development costs’, within tangible assets. These costs form part of the total investment in the relevant cash-generating unit, which is reviewed for impairment if events or a change in circumstances indicate that the carrying value may not be recoverable. Amortisation of stripping activity assets is included in operating costs. Impairment The group reviews and tests the carrying value of tangible assets when events or changes in circumstances indicate that the carrying amount may not be recoverable. Assets are grouped at the lowest level for which identifiable cash flows are largely independent of cash flows of other assets, which is generally at the individual mine level. If there are indications that impairment may have occurred, estimates are prepared of expected future cash flows for each group of assets. Expected future cash flows used to determine the value in use of goodwill and tangible assets are inherently uncertain and could materially change over time and impact the recoverable amounts. The cash flows and value in use are significantly affected by a number of factors including published reserves, resources, exploration potential and production estimates, together with economic factors such as spot and future metal prices, discount rates, foreign currency exchange rates, estimates of costs to produce reserves and future capital expenditure. At the reporting date the group assesses whether any of the indicators which gave rise to previously recognised impairments have changed such that the impairment loss no longer exists or may have decreased. The impairment loss is then assessed on the original factors for reversal and if indicated, such reversal is recognised. An impairment loss is recognised for the amount by which the asset’s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset’s fair value less costs to sell and value in use. The recoverable amount is estimated based on the positive indicators. If an impairment loss has decreased, the carrying amount is recorded at the recoverable amount as limited in terms of IAS 36 Impairment of Assets . Tangible assets Tangible assets are recorded at cost less accumulated amortisation and impairments/reversals. Cost includes pre-production expenditure incurred during the development of a mine and the present value of related future decommissioning costs. Interest on borrowings relating to the financing of major capital projects under construction is capitalised during the construction phase as part of the cost of the project. Such borrowing costs are capitalised over the period during which the asset is being acquired or constructed and borrowings have been incurred. Capitalisation ceases when construction is interrupted for an extended period or when the asset is substantially complete. Other borrowing costs are expensed as incurred. If there is an indication that the recoverable amount of any of the tangible assets is less than the carrying value, the recoverable amount is estimated and the difference is recognised as an impairment. Subsequent costs are included in the asset’s carrying amount only when it is probable that future economic benefits associated with the asset will flow to the group, and the cost of the addition can be measured reliably. All other repairs and maintenance are charged to the income statement during the financial period in which they are incurred. To the extent a legal or constructive obligation to a third party exists, the acquisition cost includes estimated costs of dismantling and removing the asset and restoring the site. A change in estimated expenditures for dismantling, removal and restoration is added to or deducted from the carrying value of the related asset. To the extent that the change would result in a negative carrying amount for the related asset, this effect is recognised as income. The change in depreciation charge is recognised prospectively. For assets amortised on the units-of-production method, amortisation is calculated to allocate the cost of each asset to its residual value over its estimated useful life. For assets not amortised on the units-of-production method, amortisation is calculated over their estimated useful life as follows: • buildings up to life of mine; • plant and machinery up to life of mine; • equipment and motor vehicles up to five years ; • computer equipment up to three years ; and • leased assets over the shorter of the period of the lease and the useful life of the leased asset. Major renovations are depreciated over the remaining useful life of the related asset or to the date of the next major renovation, whichever is sooner. Assets are amortised to residual values. Residual values and useful lives are reviewed, and adjusted if appropriate, at the beginning of each financial year. Gains and losses on disposals are determined by comparing net sale proceeds with the carrying amount at the date of sale. These are included in the income statement. |
Carrying value of goodwill and intangible assets | Carrying value of goodwill and intangible assets Where an investment in a subsidiary, joint venture or an associate is made, any excess of the consideration transferred over the fair value of the attributable Mineral Resource including value beyond proved and probable Ore Reserve, exploration properties and net assets is recognised as goodwill. Intangible assets that have an indefinite useful life and separately recognised goodwill are not subject to amortisation and are tested annually for impairment and whenever events or changes in circumstance indicate that the carrying amount may not be recoverable. Assets that are subject to amortisation are tested for impairment whenever events or changes in circumstance indicate that the carrying amount may not be recoverable. An impairment loss is recognised for the amount by which the asset’s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset’s fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (cash-generating units). An individual operating mine is not a typical going-concern business because of the finite life of its reserves. The allocation of goodwill to an individual mine will result in an eventual goodwill impairment due to the wasting nature of the mine reporting unit. In accordance with the provisions of IAS 36, the group performs its annual impairment review of assigned goodwill during the fourth quarter of each year. |
Income taxes and taxation | Income taxes The group is subject to income taxes in numerous jurisdictions. Significant judgement is required in determining the worldwide provision for income taxes due to the complexity of legislation. There are many transactions and calculations for which the ultimate tax determination is uncertain during the ordinary course of business. The group recognises liabilities for anticipated tax audit issues based on estimates of whether additional taxes will be due. Where the final tax outcome of these matters is different from the amounts that were initially recorded, such differences will impact the income tax and deferred tax provisions in the period in which such determination is made. The group tax reconciliation between tax expense and the product of accounting profit multiplied by the applicable tax rate, prepared in accordance with IAS 12 Income Taxes , applies the South African corporate tax rate of 28 percent. The group recognises the net future tax benefit related to deferred income tax assets to the extent that it is probable that the deductible temporary differences will reverse in the foreseeable future. Assessing the recoverability of deferred income tax assets requires the group to make significant estimates related to expectations of future taxable income. Estimates of future taxable income are based on forecast cash flows from operations and the application of existing tax laws in each jurisdiction. To the extent that future cash flows and taxable income differ significantly from estimates, the ability of the group to realise the net deferred tax assets recorded at the reporting date could be impacted. Additionally, future changes in tax laws in the jurisdictions in which the group operates could limit the ability of the group to obtain tax deductions in future periods. Taxation Deferred taxation is recognised on all qualifying temporary differences at the reporting date between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes. Deferred tax assets are only recognised to the extent that it is probable that the deductible temporary differences will reverse in the foreseeable future and future taxable profit will be available against which the temporary difference can be utilised. The carrying amount of deferred tax assets is reviewed at each reporting date. Deferred tax assets and liabilities are measured at future anticipated tax rates, which have been enacted or substantively enacted at the reporting date. Current and deferred tax is recognised as income or expense and included in profit or loss for the period, except to the extent that the tax arises from a transaction or event which is recognised, in the same or a different period, in other comprehensive income or directly in equity, or a business combination that is an acquisition. Current tax is measured on taxable income at the applicable statutory rate enacted or substantively enacted at the reporting date. Interest and penalties, if any, are recognised in the income statement as part of taxation expense. |
Provision for environmental rehabilitation obligations, environmental expenditure and decommissioning costs | Provision for environmental rehabilitation obligations The group’s mining and exploration activities are subject to various laws and regulations governing the protection of the environment. The group recognises management’s best estimate for decommissioning and restoration obligations in the period in which they are incurred. Future changes to environmental laws and regulations, life of mine estimates, inflation rates, foreign currency exchange rates and discount rates could affect the carrying amount of this provision. Environmental expenditure The group has long-term remediation obligations comprising decommissioning and restoration liabilities relating to its past operations which are based on the group’s environmental management plans, in compliance with current environmental and regulatory requirements. Provisions for non-recurring remediation costs are made when there is a present obligation, it is probable that expenditure on remediation work will be required and the cost can be estimated within a reasonable range of possible outcomes. The costs are based on currently available facts, technology expected to be available at the time of the clean-up, laws and regulations presently or virtually certain to be enacted and prior experience in remediation of contaminated sites. Decommissioning costs The provision for decommissioning represents the cost that will arise from rectifying damage caused before production commences. Accordingly, a provision and a decommissioning asset is recognised and included within mine infrastructure. Decommissioning costs are provided at the present value of the expenditures expected to settle the obligation, using estimated cash flows based on current prices. The unwinding of the decommissioning obligation is included in the income statement. Estimated future costs of decommissioning obligations are reviewed regularly and adjusted as appropriate for new circumstances or changes in law or technology. Changes in estimates are capitalised or reversed against the relevant asset. Estimates are discounted at a pre-tax rate that reflects current market assessments of the time value of money. Gains or losses from the expected disposal of assets are not taken into account when determining the provision. Restoration costs The provision for restoration represents the cost of restoring site damage after the start of production. Changes in the provision are recorded in the income statement as a cost of production. Restoration costs are estimated at the present value of the expenditures expected to settle the obligation, using estimated cash flows based on current prices and adjusted for risks specific to the liability. The estimates are discounted at a pre-tax rate that reflects current market assessments of the time value of money. |
Stockpiles and metals in process and inventories | Stockpiles and metals in process Costs that are incurred in or benefit the production process are accumulated in stockpiles and metals in process values. Net realisable value tests are performed at least annually and represent the estimated future sales price of the product, based on prevailing and long-term metals prices, less estimated costs to complete production and bring the product to sale. Surface and underground stockpiles and metals in process are measured by estimating the number of tonnes added and removed from the stockpile, the number of contained ounces based on assay data, and the estimated recovery percentage based on the expected processing method. Stockpile ore tonnages are verified by periodic surveys. Although the quantities of recoverable metal are reconciled by comparing the grades of ore to the quantities of metals actually recovered (metallurgical balancing), the nature of the process inherently limits the ability to precisely monitor recoverability levels. As a result, the metallurgical balancing process is constantly monitored and engineering estimates are refined based on actual results over time. Variations between actual and estimated quantities resulting from changes in assumptions and estimates that do not result in write-downs to net realisable value are accounted for on a prospective basis. Inventories Inventories are valued at the lower of cost and net realisable value after appropriate allowances for redundant and obsolete items. Cost is determined on the following bases: • metals in process are valued at the average total production cost at the relevant stage of production; • gold doré/bullion is valued on an average total production cost method; • ore stockpiles are valued at the average moving cost of mining and stockpiling the ore. Stockpiles are classified as a non-current asset where the stockpile exceeds current processing capacity; • by-products, which include uranium oxide, silver and sulphuric acid, are valued using an average total production cost method; • mine operating supplies are valued at average cost; and • heap leach pad materials are measured on an average total production cost basis. A portion of the related depreciation, depletion and amortisation charge is included in the cost of inventory. Impairments resulting from a decrease in prices are disclosed in other expenses, all other impairments are included in cost of sales |
Recoverable tax, rebates, levies and duties | Recoverable tax, rebates, levies and duties In a number of countries, particularly in Continental Africa, AngloGold Ashanti is due refunds of indirect tax which remain outstanding for periods longer than those provided for in the respective statutes. In addition, AngloGold Ashanti has unresolved non-income tax disputes in a number of countries, particularly in Continental Africa and in Brazil and Argentina. If the outstanding input taxes are not received and these disputes are not resolved in a manner favourable to AngloGold Ashanti, it could have a material adverse effect upon the carrying value of these assets and our results of operations. |
Post-retirement obligations | Post-retirement obligations The determination of AngloGold Ashanti’s obligations and expense for post-retirement liabilities depends on the selection of certain assumptions used by actuaries to calculate amounts. These assumptions include, among others, the discount rate, the expected long-term rate of return of plan assets, health care inflation costs, rates of increase in compensation costs and the number of employees who reach retirement age before the mine reaches the end of its life. While AngloGold Ashanti believes that these assumptions are appropriate, significant changes in the assumptions may materially affect post-retirement obligations as well as future expenses, which may result in an impact on earnings in the periods that the changes in these assumptions occur. Other post-employment benefit obligations Some group companies provide post-retirement health care benefits to their retirees. The entitlement to these benefits is usually conditional on the employee remaining in service up to retirement age and completion of a minimum service period. The expected costs of these benefits are accrued over the period of employment using an accounting methodology on the same basis as that used for defined benefit pension plans. Actuarial gains and losses arising from experience adjustments and changes in actuarial assumptions are recorded in other comprehensive income immediately. These obligations are valued annually by independent qualified actuaries. |
Ore reserve estimates | Ore Reserve estimates An Ore Reserve estimate is an estimate of the amount of product that can be economically and legally extracted from the group’s properties. In order to calculate the Ore Reserve, estimates and assumptions are required about a range of geological, technical and economic factors, including quantities, grades, production techniques, recovery rates, production costs, transport costs, commodity demand, commodity prices and exchange rates. Estimating the quantity and/or grade of the Ore Reserve requires the size, shape and depth of orebodies to be determined by analysing geological data such as the logging and assaying of drill samples. This process may require complex and difficult geological judgements and calculations to interpret the data. The group is required to determine and report its Ore Reserve in accordance with the minimum standards described by the South African Code for the reporting of Exploration Results, Mineral Resources and Mineral Reserves (The SAMREC Code, 2016 Edition). Because the economic assumptions used to estimate changes in the Ore Reserve from period to period, and because additional geological data is generated during the course of operations, estimates of the Ore Reserve may change from period to period. Changes in the reported Ore Reserve may affect the group’s financial results and financial position in a number of ways, including the following: • asset carrying values may be affected due to changes in estimated future cash flows; • depreciation, depletion and amortisation charged in the income statement may change where such charges are determined by the units-of-production method, or where the useful economic lives of assets change; • overburden removal costs, including production stripping activities, recorded on the statement of financial position or charged in the income statement may change due to changes in stripping ratios or the units-of-production method of depreciation; • decommissioning site restoration and environmental provisions may change where changes in the estimated Ore Reserve affect expectations about the timing or cost of these activities; and • the carrying value of deferred tax assets may change due to changes in estimates of the likely recovery of the tax benefits. |
Development expenditure | Development expenditure Development activities commence after project sanctioning by the appropriate level of management. Judgement is applied by management in determining when a project has reached a stage at which economically recoverable reserves exist such that development may be sanctioned. In exercising this judgement, management is required to make certain estimates and assumptions similar to those described in the accounting policy for exploration and evaluation assets. Any such estimates and assumptions may change as new information becomes available. If, after having started the development activity, a judgement is made that a development asset is impaired, the appropriate amount will be written off to the income statement. |
Provision for silicosis | Provision for silicosis Significant judgement is applied in estimating the costs that will be incurred to settle the silicosis class action claims and related expenditure. The final costs may differ from current cost estimates. The provision is based on actuarial assumptions including: • silicosis prevalence rates; • estimated settlement per claimant; • benefit take-up rates; • disease progression rates; • timing of cashflows; and • discount rate. Management believes the assumptions are appropriate, however changes in the assumptions may materially affect the provision and final costs of settlement. |
Identification and classification of discontinued operations | Identification and classification of discontinued operations During 2019, the decision to sell the remaining South African operations was made. Judgement was applied regarding classification of the disposal group as held for sale at year end, and whether the disposal group should be classified as a discontinued operation. The South African asset sale was assessed as a major geographical area of operations and part of a single co-ordinated plan to dispose of a major geographical area of operations and accordingly, it was classified as a discontinued operation. The sale was announced on 12 February 2020. |
Contingencies | Contingencies By their nature, contingencies will only be resolved when one or more future events occur or fail to occur. The assessment of such contingencies inherently involves the exercise of significant judgement and estimates of the outcome of future events. Such contingencies include, but are not limited to environmental obligations, litigation, regulatory proceedings, tax matters and losses resulting from other events and developments. When a loss is considered probable and reasonably estimable, a liability is recorded in the amount of the best estimate for the ultimate loss. The likelihood of a loss with respect to a contingency can be difficult to predict and determining a meaningful estimate of the loss or a range of loss may not always be practicable based on the information available at the time and the potential effect of future events and decisions by third parties that will determine the ultimate resolution of the contingency. It is not uncommon for such matters to be resolved over many years, during which time relevant developments and new information is continuously evaluated to determine both the likelihood of any potential loss and whether it is possible to reasonably estimate a range of possible losses. When a loss is probable but a reasonable estimate cannot be made, disclosure is provided. In determining the threshold for disclosure on a qualitative and quantitative basis, management considers the potential for a disruptive effect on the normal functioning of the group and/or whether the contingency could impact investment decisions. Such qualitative matters considered are reputational risks, regulatory compliance issues and reasonable investor considerations. For quantitative purposes, amateriality threshold of $18m has been applied. As a global company, the group is exposed to numerous legal risks. The outcome of currently pending and future proceedings cannot be predicted with certainty. Litigation and other judicial proceedings as a rule raise difficult and complex legal issues and are subject to uncertainties and complexities including, but not limited to, the facts and circumstances of each particular case, issues regarding the jurisdiction in which each suit is brought and differences in applicable law. Upon resolution of any pending legal matter, the group may be forced to incur charges in excess of the presently established provisions and related insurance coverage. It is possible that the financial position, results of operations or cash flows of the group could be materially affected by the unfavourable outcome of litigation. |
Joint ventures | Joint ventures A joint venture is an entity in which the group holds a long-term interest and which the group and one or more other ventures jointly control under a contractual arrangement, that provides for strategic, financial and operating policy decisions relating to the activities requiring unanimous consent of the parties sharing control. The group’s interests in joint arrangements classified as joint ventures are accounted for using the equity method. Profits and losses realised in connection with transactions between the group and joint ventures are eliminated in proportion to share ownership. Such profits and losses are deducted from the group’s equity and related statement of financial position amount and released in the group accounts when the assets are effectively realised outside the group. Dividends received from joint ventures are included in operating activities in the cash flow statement. |
Associates | Associates The equity method of accounting is used for investments over which the group exercises significant influence and normally owns between 20% and 50% of the voting equity. Associates are equity-accounted from the effective date of acquisition to the effective date of disposal. Profits and losses realised in connection with transactions between the group and associated companies are eliminated in proportion to share ownership. Such profits and losses are deducted from the group’s equity and related statement of financial position amount and released in the group accounts when the assets are effectively realised outside the group. Dividends received from associates are included in investing activities in the cash flow statement. |
Joint ventures and associates | Joint ventures and associates If necessary, impairment losses on loans and equity are reported under share of joint ventures and associates profit and loss. Any losses of equity-accounted investments are accounted for in the consolidated financial statements until the investment in such investments is written down to zero. Thereafter, losses are accounted for only insofar as the group is committed to providing financial support to such investees. The carrying value of equity-accounted investments represents the cost of each investment, including goodwill, balance outstanding on loans advanced if the loan forms part of the net investment in the investee, any impairment losses recognised, the share of post-acquisition retained earnings and losses, and any other movements in reserves. The carrying value of equity-accounted investments is reviewed when indicators arise and if any impairment in value has occurred; it is recognised in the period in which the impairment arose. In determining materiality for the disclosure requirements of IFRS 12 “Disclosure of Interest in Other Entities”, management has assessed that amounts representing the carrying value of at least 90% of the investments in associates and joint ventures balances, reported in the statement of financial position, constitute quantitative materiality. |
Unincorporated joint venture - joint operations | Unincorporated joint ventures – joint operations A joint operation is a joint arrangement whereby the parties that have joint control of the arrangement have rights to the use of assets and obligations for the liabilities of the arrangement. The group accounts for activities under joint operations by recognising, in relation to the joint operation, the assets it controls and the liabilities it incurs, the expenses it incurs and the revenue from the sale or use of its share of the joint operations output. |
Functional currency | Functional currency Items included in the financial statements of each of the group’s entities are measured using the currency of the primary economic environment in which the entity operates (the ‘functional currency’). The functional currency of the parent company is South African Rands. |
Transactions and balances and group companies | Transactions and balances Foreign currency transactions are translated into the functional currency using the approximate exchange rates prevailing at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of foreign currency transactions and from the translation at the reporting period exchange rate of monetary assets and liabilities denominated in foreign currencies are recognised in the income statement. Group companies The results and financial position of all group entities (none of which has the currency of a hyperinflationary economy) that have a functional currency different from the presentation currency are translated into the presentation currency as follows: • share capital and premium are translated at historical rates of exchange at the reporting date; • retained earnings are converted at historical average exchange rates; • assets and liabilities for each statement of financial position presented are translated at the closing rate at the date of that statement of financial position; • income and expenses for each income statement presented are translated at monthly average exchange rates (unless this average is not a reasonable approximation of the cumulative effect of the rates prevailing on the transaction dates, in which case income and expenses are translated at the rates prevailing at the date of the transaction); and • all resulting exchange differences are recognised in other comprehensive income and presented as a separate component of equity (foreign currency translation reserve, or FCTR). Exchange differences arising from the translation of the net investment in foreign operations, and of borrowings and other currency instruments designated as hedges of such investments, are accounted for as other comprehensive income on consolidation. On repayment or realisation, permanent loans and investments are recycled from FCTR to the income statement. |
Segment reporting | Segment reporting An operating segment is a business activity whose results are regularly reviewed by the chief operating decision maker (CODM) in order to make decisions about resources to be allocated to it and to assess its performance and for which discrete financial information is available. The chief executive officer and the executive committee are collectively identified as the CODM. |
Mine development costs | Mine development costs Capitalised mine development costs include expenditure incurred to develop new orebodies, to define further mineralisation in existing orebodies and to expand the capacity of a mine. Mine development costs include acquired proved and probable Ore Reserve at cost at the acquisition date. These costs are amortised from the date on which commercial production begins. Depreciation, depletion and amortisation of mine development costs are computed by the units-of-production method based on estimated proved and probable Ore Reserve. The proved and probable Ore Reserve reflects estimated quantities of reserves which can be recovered economically in the future from known mineral deposits. Capitalised mine development costs also include stripping activity assets relating to production stripping activities incurred in the production phase of open-pit operations of the group. Once determined that any portion of the production stripping costs should be capitalised, the group determines the average mine costs per tonne of the component and the waste tonnes to which the production stripping costs relate to determine the amount of the production stripping costs that should be capitalised. Stripping activity assets are amortised on a units-of-production method based on the Ore Reserve of the component of the orebody to which these assets relate. The average mine cost per tonne of the component is calculated as the total expected costs to be incurred to mine the relevant component of the orebody, divided by the number of tonnes expected to be mined from the component. The average mine cost per tonne of the component to which the stripping activity asset relates are recalculated annually in the light of additional knowledge and changes in estimates. |
Mining infrastructure | Mine infrastructure Mine plant facilities, including decommissioning assets, are amortised using the lesser of their useful life or units-of-production method based on estimated proved and probable Ore Reserve. |
Land and assets under construction | Land and assets under construction Land and assets under construction are not depreciated and are measured at historical cost less impairments. |
Mineral rights and dumps | Mineral rights and dumps Mineral rights are amortised using the units-of-production method based on the estimated proved and probable Ore Reserve. Dumps are amortised over the period of treatment. |
Exploration and evaluation assets | Exploration and evaluation assets All pre-license and exploration costs, including geological and geographical costs, labour, Mineral Resource and exploratory drilling cost, are expensed as incurred, until it is concluded that a future economic benefit will more likely than not be realised. In evaluating if expenditures meet this criterion to be capitalised, several different sources of information are used depending on the level of exploration. While the criterion for concluding that expenditure should be capitalised is always probable, the information used to make that determination depends on the level of exploration: • Costs on greenfields sites, being those where the group does not have any mineral deposits which are already being mined or developed under the planned method of extraction, are expensed as incurred until the group is able to demonstrate that future economic benefits are probable, which generally will be the establishment of proved and probable Ore Reserve at this location; • Costs on brownfields sites, being those adjacent to mineral deposits which are already being mined or developed under the planned method of extraction, are expensed as incurred until the group is able to demonstrate that future economic benefits are probable, which generally will be the establishment of increased inclusive proved and probable Ore Reserve, after which the expenditure is capitalised as a mine development cost; and • Costs relating to extensions of mineral deposits, which are already being mined or developed, including expenditure on the definition of mineralisation of such mineral deposits, are capitalised as a mine development cost. Costs relating to property acquisitions are capitalised within mine development costs. |
Leases | Leases The group assesses whether a contract is or contains a lease at inception of a contract. The group recognises a right-of-use asset and a corresponding lease liability with respect to all lease agreements in which it is the lessee, except for short-term leases (defined as leases with a lease term of 12 months or less) and leases of low value assets. For these leases, the group recognises the lease payments as an operating expense on a straight-line basis over the term of the lease unless another systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed. The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted by using the rate implicit in the lease. If this rate cannot be readily determined, the group uses its incremental borrowing rate. The group has applied the IFRS 16 portfolio approach in determining the discount rate for leases. As such a single discount rate has been used for contracts that share similar characteristics. The group has determined that contracts that are denominated in the same currency will use a single discount rate. This rate has been determined using various factors including in-country borrowings as well as other sources of finance. Contracts may contain both lease and non-lease components. The group allocates the consideration in the contract to the lease and non-lease components based on their relative stand-alone prices. Lease payments included in the measurement of the lease liability comprise: • fixed lease payments (including in-substance fixed payments), less any lease incentives; • variable lease payments that depend on an index or rate, initially measured using the index or rate at the commencement date; • the amount expected to be payable by the lessee under residual value guarantees; • the exercise price of purchase options, if the lessee is reasonably certain to exercise the options; and • payments of penalties for terminating the lease, if the lease term reflects the exercise of an option to terminate the lease. The lease liability is presented separately in the consolidated statement of financial position, allocated to non-current and current liabilities. The lease liability is subsequently measured by increasing the carrying amount to reflect interest on the lease liability (using the effective interest method) and by reducing the carrying amount to reflect the lease payments made. The group remeasures the lease liability (and makes a corresponding adjustment to the related right-of-use asset) whenever: • the lease term has changed or there is a change in the assessment of exercise of a purchase option, in which case the lease liability is remeasured by discounting the revised lease payments using a revised discount rate. • the lease payments change due to changes in an index or rate or a change in expected payment under a guaranteed residual value, in which cases the lease liability is remeasured by discounting the revised lease payments using the initial discount rate (unless the lease payments change is due to a change in a floating interest rate, in which case a revised discount rate is used). • a lease contract is modified and the lease modification is not accounted for as a separate lease, in which case the lease liability is remeasured by discounting the revised lease payments using a revised discount rate. The right-of-use assets comprise the initial measurement of the corresponding lease liability, lease payments made at or before the commencement day, any initial direct costs and restoration costs as described below. They are subsequently measured at cost less accumulated depreciation and impairment losses. The lease term is determined as the non-cancellable period of a lease, together with: • Periods covered by an option to extend the lease if AngloGold Ashanti is reasonably certain to make use of that option; and / or • Periods covered by an option to terminate the lease, if AngloGold Ashanti is reasonably certain not to make use of that option. Whenever the group incurs an obligation for costs to dismantle and remove a leased asset, restore the site on which it is located or restore the underlying asset to the condition required by the terms and conditions of the lease, a provision is recognised and measured under IAS 37 Provisions, Contingent Liabilities and Contingent Assets . The costs are included in the related right-of-use asset, unless those costs are incurred to produce inventories. Right-of-use assets are depreciated over the shorter period of lease term and useful life of the underlying asset. If a lease transfers ownership of the underlying asset or the cost of the right-of-use asset reflects that the group expects to exercise a purchase option, the related right-of-use asset is depreciated over the useful life of the underlying asset. The depreciation starts at the commencement date of the lease. The right-of-use assets are presented as a separate line in the consolidated statement of financial position. The group applies IAS 36 Impairment of Assets to determine whether a right-of-use asset is impaired and accounts for any identified impairment loss accordingly. |
Non-current assets held for sale and discontinued operations | Non-current assets held for sale and discontinued operations Non-current assets and disposal groups are classified as held for sale if their carrying amount will be recovered principally through a sale transaction rather than through continuing use. This condition is regarded as having been met only when the sale is highly probable and the asset (or disposal group) is available for immediate sale in its present condition. Management must be committed to the sale, which should be expected to qualify for recognition as a completed sale within one year from the date of classification. Non-current assets (and disposal groups) classified as held for sale are measured at the lower of their previous carrying amount and fair value less costs to sell. Tangible assets, right of use assets and intangible assets are not depreciated once classified as held for sale. A disposal group qualifies as a discontinued operation if it is a component of an entity that either has been disposed of, or is classified as held for sale, and: • Represents a separate major line of business or geographical area of operations; • Is part of a single co-ordinated plan to dispose of a separate major line of business or geographical area of operations; or • Is a subsidiary acquired exclusively with a view to resale. Discontinued operations are excluded from the results of continuing operations and are presented as a single amount as profit or loss after tax from discontinued operations in the statement of profit or loss. |
Provisions | Provisions Provisions are recognised when the group has a present obligation, whether legal or constructive, because of a past event for which it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. Where some or all of the expenditure required to settle a provision is expected to be reimbursed by another party, the reimbursement is recognised only when the reimbursement is virtually certain. The amount to be reimbursed is recognised as a separate asset. Where the group has a joint and several liability with one or more other parties, no provision is recognised to the extent that those other parties are expected to settle part or all of the obligation. Provisions are measured at the present value of management’s best estimate of the expenditure required to settle the obligation at the reporting date. The discount rate used to determine the present value reflects current market assessments of the time value of money and the risks specific to the liability. Litigation and administrative proceedings are evaluated on a case-by-case basis considering the information available, including that of legal counsel, to assess potential outcomes. Where it is considered probable that an obligation will result in an outflow of resources, a provision is recorded for the present value of the expected cash outflows if these are reasonably measurable. These provisions cover the estimated payments to plaintiffs, court fees and the cost of potential settlements. |
Termination benefits | Termination benefits Termination benefits are payable when employment is terminated before the normal retirement date, or when an employee accepts voluntary redundancy in exchange for these benefits. The group recognises a liability and expense for termination benefits at the earlier of the following dates: (a) when the entity can no longer withdraw the offer of those benefits; and (b) when the entity recognises costs for a restructuring that is within the scope of IAS 37 Provisions, Contingent Liabilities and Contingent Assets and involves the payment of termination benefits. The group recognises termination benefits when it is demonstrably committed to either terminating the employment of current employees according to a detailed formal plan without possibility of withdrawal; or providing termination benefits as a result of an offer made to encourage voluntary redundancy based on the number of employees expected to accept the offer. Benefits falling due more than 12 months after reporting date are discounted to present value. |
Share-based payments | Share-based payments The group’s management awards certain employee bonuses in the form of equity-settled share-based payments on a discretionary basis. The fair value of the equity instruments granted is calculated at grant date. For transactions with employees, fair value is based on market prices of the equity instruments granted, if available, taking into account the terms and conditions upon which those equity instruments were granted. If market prices of the equity instruments granted are not available, the fair value of the equity instruments granted is estimated using an appropriate valuation model. Vesting conditions, other than market conditions, are not taken into account when estimating the fair value of shares or share options at measurement date. Over the vesting period, the fair value at measurement date is recognised as an employee benefit expense with a corresponding increase in other capital reserves based on the group’s estimate of the number of instruments that will eventually vest. The income statement charge or credit for a period represents the movement in cumulative expense recognised as at the beginning and end of that period. Vesting assumptions for non-market conditions are reviewed at each reporting date to ensure they reflect current expectations. When options are exercised or share awards vest, the proceeds received, net of any directly attributable transaction costs, are credited to share capital (nominal value) and share premium. Where the terms of an equity settled award are modified, as a minimum, an expense is recognised as if the terms had not been modified. In addition, an expense is recognised for any modification which increases the total fair value of the share-based payment arrangement, or is otherwise beneficial to the employee, as measured at the date of the modification. In addition, the group’s management awards certain employee bonuses in the form of a cash settled scheme, whereby awards granted are linked to the performance of the company’s share price. A liability is recognised based upon the grant date fair value and is subsequently remeasured to the closing share price at each reporting date up to the date of vesting. Remeasurements to fair value are recognised in the income statement. |
Revenue recognition | Revenue recognition Revenue is recognised when control of the goods passes to the customer and the performance obligations of transferring control have been met. The amount of revenue recognised reflects the consideration to which the entity is entitled in exchange for the goods transferred. Revenue from product sales comprises sales of: • refined gold; • by-products including silver and sulphuric acid; and • doré bars. Revenue from product sales is recognised at a point in time. |
Operating expense and income | Other expenses and income Items of income and expense, not included in gross profit, that are: • material either quantitatively or qualitatively, or both; • non-recurring; • not directly related to current operating or financing activities ; and • not disclosed separately on the face of the income statement, are classified as Other expenses and income on the face of the income statement. |
Financial instruments | Financial instruments Financial instruments are initially recognised at fair value when the group becomes a party to their contractual arrangements. Transaction costs directly attributable to the instrument’s acquisition or issue are included in the initial measurement of financial assets and financial liabilities, except financial instruments classified as at fair value through profit or loss (FVTPL). The subsequent measurement of financial instruments is dealt with below. |
Financial liabilities | Financial liabilities Financial liabilities are classified as measured at amortised cost. A financial liability is derecognised when the obligation under the liability is discharged, cancelled or expires. The group also derecognises a financial liability when its terms are modified and the cash flows of the modified liability are substantially different. In this case a new financial liability based on the modified terms is recognised at fair value. |
Financial assets | Financial assets On initial recognition, a financial asset is classified as measured at: • amortised cost; • Fair value through other comprehensive income (FVTOCI) - equity instruments; or • FVTPL. At initial recognition, the group measures a financial asset at its fair value plus, in the case of a financial asset not at FVTPL, transaction costs that are directly attributable to the acquisition of the financial asset. Transaction costs of financial assets carried at FVTPL, are expensed. A financial asset is measured at amortised cost if it is held within the business model whose objective is to hold assets to collect contractual cash flows and its contractual terms give rise, on specified dates, to cash flows that are solely payments of principal and interest on the principal amount outstanding. Interest income from these financial assets is included in finance income using the effective interest rate method. Any gain or loss arising on derecognition is recognised directly in profit or loss and presented in other gains or losses, together with foreign exchange gains or losses. Impairment losses are presented in the statement of profit or loss. A gain or loss on a debt investment that is subsequently measured at FVTPL is recognised in profit or loss and presented net within other gains or losses in the period in which it arises. On derecognition of a financial asset, the difference between the proceeds received or receivable and the carrying amount of the asset is included in profit or loss. Equity instruments Listed equity investments which are held to meet rehabilitation liabilities are classified as FVTPL. Listed equity investments held for other purposes are classified as FVTOCI. The group subsequently measures all equity investments at fair value. Where the group’s management has elected to present fair value gains and losses on equity investments in OCI, there is no subsequent reclassification of fair value gains and losses to profit or loss following the derecognition of the investment. Dividends from such investments continue to be recognised in profit or loss as other income when the group’s right to receive payments is established. Residual values in OCI are reclassified to retained earnings (accumulated losses) on derecognition of the related FVTOCI instruments. Changes in the fair value of financial assets at FVTPL are recognised in other gains or losses in the statement of profit or loss as applicable. Trade receivables Trade receivables mainly comprise receivables owing from banking institutions purchasing gold bullion. Normal market settlement terms are two working days. Impairment of financial assets Financial assets at amortised cost consist of trade receivables, loans, cash and cash equivalents and debt instruments. Impairment losses are assessed using the forward-looking expected credit loss (ECL) approach. An allowance is recorded for all loans and other debt financial assets not held at FVTPL. The impairment methodology applied depends on whether there has been a significant increase in credit risk. Trade receivable loss allowances are measured at an amount equal to lifetime ECL’s. Loss allowances are deducted from the gross carrying amount of the assets. Debt securities that are determined to have a low credit risk at the reporting date and bank balances, for which credit risk has not increased significantly since initial recognition, are measured at an amount equal to 12-month ECL. |
Fair value measurements | Fair value measurements The group measures financial instruments at fair value at each reporting date where relevant. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or liability, assuming that market participants act in their economic best interest. For the purpose of fair value disclosures, the group has determined classes of assets and liabilities on the basis of the nature, characteristics and risks of the asset or liability and the level of the fair value hierarchy. The group uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximising the use of relevant observable inputs and minimising the use of unobservable inputs. |
Accounting Policies (Tables)
Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of significant accounting policies [Abstract] | |
Disclosure of reclassifications in the income statement | As a result of the change, reclassifications in the income statement are as follows: Income statement extract (1) 2018 2018 2017 2017 Previously reported Reclassified Previously reported Reclassified US dollar million Gross profit (loss) 772 772 784 784 Corporate administration, marketing and other expenses (76 ) (76 ) (64 ) (64 ) Exploration and evaluation costs (102 ) (102 ) (114 ) (114 ) Impairment, derecognition of assets and profit (loss) on disposal n/a (124 ) n/a (293 ) Other expenses (income) (97 ) (143 ) (88 ) (233 ) Special items (170 ) n/a (438 ) n/a Operating profit (loss) 327 327 80 80 (1) Represents reclassification prior to the disclosure of Discontinued operations. |
Segmental Information (Tables)
Segmental Information (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of entity's operating segments [Abstract] | |
Schedule of Segmental Information | Group analysis by origin is as follows: Figures in millions Gold income US Dollars 2019 2018 2017 Geographical analysis of gold income by origin is as follows: Continental Africa (1) 2,203 1,983 1,895 Australia 851 780 709 Americas 1,000 1,021 1,104 4,054 3,784 3,708 Equity-accounted investments included above (615 ) (581 ) (453 ) Continuing operations 3,439 3,203 3,255 Discontinued operations - South Africa 554 602 1,101 3,993 3,805 4,356 Foreign countries included in the above and considered material are: Australia 851 780 709 Argentina 387 399 Brazil 679 634 705 Guinea 489 Tanzania 849 715 664 DRC 504 468 Geographical analysis of gold income by destination is as follows: South Africa 981 946 946 North America 486 450 456 Australia 851 780 709 Europe 329 387 399 United Kingdom 1,407 1,221 1,198 4,054 3,784 3,708 Equity-accounted investments included above (615 ) (581 ) (453 ) 3,439 3,203 3,255 Discontinued operations - South Africa 554 602 1,101 Continuing and discontinued operations 3,993 3,805 4,356 Figures in millions By product revenue US Dollars 2019 2018 2017 Continental Africa (1) 3 4 3 Australia 3 2 2 Americas 81 128 135 87 134 140 Equity-accounted investments included above (1 ) (1 ) (1 ) Continuing operations 86 133 139 Discontinued operations - South Africa 1 6 15 87 139 154 The Group's revenue is mainly derived from gold income. Approximately 34% of the group's total gold produced is sold to two customers of the group. Due to the diversity and depth of the total gold market, the bullion banks do not possess significant pricing power. Figures in millions Gross profit (loss) (2) US Dollars 2019 2018 2017 Continental Africa (1) 605 380 386 Australia 221 160 159 Americas (1) 265 310 253 Corporate and other 1 2 2 1,092 852 800 Equity-accounted investments included above (188 ) (102 ) (13 ) Continuing operations 904 750 787 Discontinued operations - South Africa 79 22 (3 ) 983 772 784 Figures in millions Cost of sales US Dollars 2019 2018 2017 Continental Africa (1) 1,601 1,607 1,513 Australia 632 622 551 Americas (1) 822 838 987 Corporate and other (1 ) (3 ) (3 ) 3,054 3,064 3,048 Equity-accounted investments included above (428 ) (480 ) (441 ) Continuing operations 2,626 2,584 2,607 Discontinued operations - South Africa 479 589 1,129 3,105 3,173 3,736 Figures in millions Amortisation US Dollars 2019 2018 2017 Continental Africa (1) 367 379 421 Australia 173 149 130 Americas (1) 177 192 273 Corporate and other 3 3 2 720 723 826 Equity-accounted investments included above (137 ) (165 ) (136 ) Continuing operations 583 558 690 Discontinued operations - South Africa 61 72 133 644 630 823 Figures in millions Total assets (1)(3)(4) US Dollars 2019 2018 2017 South Africa 697 1,106 1,734 Continental Africa 3,514 3,135 3,153 Australia 972 888 929 Americas 1,427 1,286 1,258 Corporate and other 253 228 145 6,863 6,643 7,219 Figures in millions Non-current assets (5) US Dollars 2019 2018 2017 Non-current assets considered material, by country are: South Africa 25 1,005 1,295 Foreign entities 4,644 4,234 4,259 DRC 1,506 1,439 1,423 Ghana 758 550 533 Tanzania 379 369 422 Australia 817 718 764 Brazil 625 615 632 Figures in millions Capital expenditure US Dollars 2019 2018 2017 Continental Africa (1) 410 313 409 Australia 149 156 153 Americas (1) 195 176 234 Corporate and other — — 2 Continuing operations 754 645 798 Discontinued operations - South Africa 60 76 155 814 721 953 Equity-accounted investments (51 ) (69 ) (123 ) 763 652 830 (1) Includes equity-accounted investments. (2) The group's segmental profit measure is gross profit (loss), which excludes the results of associates and joint ventures. For the reconciliation of gross profit (loss) to profit before taxation, refer to the group income statement. (3) Total assets include allocated goodwill of $108m ( 2018 : $108m ; 2017 : $119m ) for Australia and $8m ( 2018 : $8m ; 2017 : $8m ) for Americas (note 17). The South African segment includes assets held for sale of $581m ( 2018 : nil ; 2017 : $348m ) and the Continental Africa segment includes assets held for sale of $20m (2018: nil ; 2017: nil ). (4) In 2019, pre-tax impairments and derecognition of assets of $556m were accounted for in South Africa ( 2018 : $98m ; 2017 : $294m ), Continental Africa $2m ( 2018 : $5m ; 2017 : nil ) and the Americas $1m ( 2018 : $1m ; 2017 : nil ). (5) Non-current assets exclude financial instruments and deferred tax assets. |
Revenue from Product Sales (Tab
Revenue from Product Sales (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of revenue [Abstract] | |
Disclosure of revenue | US Dollars Figures in millions 2019 2018 2017 Revenue consists of the following principal categories: Gold income (note 2) 3,439 3,203 3,255 By-products (note 2) 86 133 139 Revenue from product sales 3,525 3,336 3,394 |
Cost of Sales (Tables)
Cost of Sales (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Cost of Sales [Abstract] | |
Cost of Sales by Cost | US Dollars Figures in millions 2019 2018 2017 Cash operating costs 1,831 1,850 1,756 Royalties 137 133 111 Other cash costs 13 13 14 Total cash costs 1,981 1,996 1,881 Retrenchment costs 4 4 6 Rehabilitation and other non-cash costs 53 17 16 Amortisation of tangible assets (notes 32 and 36) 538 553 685 Amortisation of right of use assets (1) (notes 32 and 36) 42 — — Amortisation of intangible assets (notes 32 and 36) 3 5 5 Inventory change 5 9 14 2,626 2,584 2,607 (1) Amortisation relating to right of use assets as recognised in accordance with IFRS 16 Leases. |
Corporate Administration, Mar_2
Corporate Administration, Marketing And Other Costs (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of other operating expenses [Abstract] | |
Schedule of Corporate Administration, Marketing and Other Costs | US Dollars Figures in millions 2019 2018 2017 Corporate administration expenses 63 60 52 Share scheme and related costs 19 16 12 82 76 64 |
Other Expense (Income) (Tables)
Other Expense (Income) (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of Other Expense (Income) [Abstract] | |
Disclosure of Other Expense (Income) | US Dollars Figures in millions 2019 2018 2017 Care and maintenance (note 36) 47 39 62 Governmental fiscal claims, cost of old tailings operations and other expenses 21 14 15 Guinea public infrastructure contribution 8 — — Pension and medical defined benefit provisions 9 10 9 Royalties received (3 ) (10 ) (18 ) Brazilian power utility legal settlement (16 ) — — Retrenchment and related costs 3 6 6 Legal fees and project costs 11 16 74 Other indirect taxes 3 4 2 83 79 150 (1) Change in disclosure from prior years. Refer note 1 for details. |
Finance Costs and Unwinding o_2
Finance Costs and Unwinding of Obligations (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of finance costs and unwinding of obligations [Abstract] | |
Disclosure of Finance Costs and Unwinding of Obligations by Item | US Dollars Figures in millions 2019 2018 2017 Finance costs Finance costs on bonds, corporate notes, bank loans and other 135 128 131 Amortisation of fees 4 7 4 Lease finance charges 10 5 6 Less: interest captalised (6 ) — — 143 140 141 Unwinding of obligations 29 28 16 Total finance costs and unwinding of obligations (note 32 and 36) 172 168 157 |
Share of Associates and Joint_2
Share of Associates and Joint Ventures' Profit (Loss) (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of share of associates and joint ventures’ profit (loss) [Abstract] | |
Disclosure of share of associates and joint ventures’ profit (loss) | US Dollars Figures in millions 2019 2018 2017 Revenue 616 582 454 Operating costs and other expenses (452 ) (472 ) (471 ) Net interest received (paid) 10 (8 ) 1 Profit (loss) before taxation 174 102 (16 ) Taxation (35 ) (9 ) 23 Profit (loss) after taxation 139 93 7 Impairment reversal of investments in associates (1) 23 15 13 Impairment reversal of investments in joint ventures (note 19) 6 14 2 Share of associates and joint ventures’ profit (loss) (note 32) 168 122 22 (1) Based on the results and financial position of Rand Refinery (Pty) Limited, an impairment reversal was recognised. |
Discontinued Operations and A_2
Discontinued Operations and Assets and Liabilities Held for Sale (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Non-Current Assets Held For Sale And Discontinued Operations [Abstract] | |
Disclosure of detailed information on discontinued operations | The results of the South Africa disposal group for the year ended 31 December 2019 are presented below: US Dollars Figures in millions 2019 2018 2017 Revenue from product sales 555 608 1,116 Cost of sales (479 ) (589 ) (1,129 ) Gain (loss) on non-hedge derivatives and other commodity contracts 3 3 10 Gross profit (loss) 79 22 (3 ) Other expenses (44 ) (72 ) (97 ) Derecognition of assets, impairments and profit on disposal of assets (3 ) (118 ) (256 ) Impairment loss recognised on remeasurement to fair value less costs to sell (549 ) — (35 ) Profit (loss) before taxation (517 ) (168 ) (391 ) Normal taxation (23 ) 38 (14 ) Deferred tax on impairment loss, derecognition and profit on disposal of assets 164 47 69 Profit (loss) from discontinued operations (376 ) (83 ) (336 ) 9 DISCONTINUED OPERATIONS AND ASSETS AND LIABILITIES HELD FOR SALE (continued) The major classes of assets and liabilities of the South African disposal group as at 31 December 2019, are as follows: US Dollars Figures in millions 2019 Tangible assets and right of use assets 429 Other investments 84 Inventories 37 Trade, other receivables and other assets 4 Deferred taxation 15 Cash and cash restricted for use 12 Assets held for sale 581 Lease liabilities 3 Environmental rehabilitation and other provisions 211 Trade and other payables 58 Liabilities held for sale 272 Net assets held for sale 309 Total assets held for sale include: Sadiola 20 South Africa 581 601 |
Employee Benefits (Tables)
Employee Benefits (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of employee benefits [Abstract] | |
Disclosure of employee benefits | US Dollars Figures in millions 2019 2018 2017 Employee benefits including Executive Directors’ and Prescribed Officers’ salaries and other benefits 680 797 1,024 Health care and medical scheme costs - current medical expenses 29 39 58 - defined benefit post-retirement medical expenses 8 9 10 Pension and provident plan costs - defined contribution 29 37 53 Retrenchment costs 7 30 92 Share-based payment expense (note 11) 42 35 33 Included in cost of sales, other expenses (income) and corporate administration, marketing and other expenses of continuing and discontinued operations 795 947 1,270 |
Share-based Payments (Tables)
Share-based Payments (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of share-based payment arrangements [Abstract] | |
Disclosure of Share-based Payment Expense | US Dollars Figures in millions 2019 2018 2017 Equity-settled share incentive schemes Bonus Share Plan (BSP) 6 20 26 Deferred Share Plan (DSP) 13 — — Other 2 2 — 21 22 26 Cash-settled share incentive scheme Cash-settled Long Term Incentive Plan (CSLTIP) 21 13 7 Total share-based payment expense (note 10) 42 35 33 |
Disclosure of Fair Value and Terms of Equity Schemes | Award date (unvested awards and awards vested during the year) 2015 Calculated fair value R 129.94 Vesting date 3 Mar 2018 Expiry date 3 Mar 2025 Award date (unvested awards and awards vested during the year) 2019 Calculated fair value R 204.42 DSP 2 year Vesting date 50% 21 Feb 2020 Vesting date 50% 21 Feb 2021 DSP 3 year Vesting date 33% 21 Feb 2020 Vesting date 33% 21 Feb 2021 Vesting date 34% 21 Feb 2022 DSP 5 year Vesting date 20% 21 Feb 2020 Vesting date 20% 21 Feb 2021 Vesting date 20% 21 Feb 2022 Vesting date 20% 21 Feb 2023 Vesting date 20% 21 Feb 2024 Expiry date 21 Feb 2029 Award date (unvested awards and awards vested during the year) 2019 2018 2017 Calculated fair value R 119.14 R 152.87 Vesting date 50% 22 Feb 2019 1 Mar 2018 Vesting date 50% 22 Feb 2020 1 Mar 2019 Expiry date 22 Feb 2028 1 Mar 2027 Award date (unvested awards and awards vested during the year) 2017 2016 Vesting date 1 March 2020 1 March 2019 |
Disclosure of Activity of Equity Schemes | Number of shares 2019 2018 2017 Awards outstanding at beginning of year 447,842 2,466,357 4,363,330 Awards lapsed during the year — (1,186,330 ) (1,512,857 ) Awards exercised during the year (218,203 ) (832,185 ) (384,116 ) Awards outstanding at end of year 229,639 447,842 2,466,357 Awards exercisable at end of year 229,639 447,842 455,914 Number of shares 2019 Awards outstanding at beginning of year Awards granted during the year 1,669,191 Awards lapsed during the year (55,208 ) Awards exercised during the year (14,623 ) Awards outstanding at end of year 1,599,360 Number of shares 2019 2018 2017 Awards outstanding at beginning of year 112,578 95,378 97,651 Awards granted during the year — 80,809 112,105 Awards lapsed during the year (16,500 ) (11,633 ) (62,775 ) Awards matched during the year (72,151 ) (51,976 ) (51,603 ) Awards outstanding at end of year 23,927 112,578 95,378 Number of shares 2019 2018 2017 Awards outstanding at beginning of year 4,557,919 4,479,679 4,198,285 Awards granted during the year — 2,492,584 1,926,549 Awards lapsed during the year (109,065 ) (359,343 ) (218,601 ) Awards exercised during the year (2,307,439 ) (2,055,001 ) (1,426,554 ) Awards outstanding at end of year 2,141,415 4,557,919 4,479,679 Awards exercisable at end of year 1,207,936 1,588,512 1,904,021 Number of units 2019 2018 2017 Share units outstanding at beginning of year 3,815,761 4,469,618 2,464,630 Share units granted during the year — — 2,572,437 Share units lapsed during the year (1,305,761 ) (611,265 ) (507,597 ) Share units exercised during the year (1,029,438 ) (42,592 ) (59,852 ) Share units outstanding at end of year 1,480,562 3,815,761 4,469,618 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of income tax [Abstract] | |
Disclosure of Income Tax Expense | Figures in millions US Dollars 2019 2018 2017 South African taxation Normal taxation — — 1 Prior year (over) under provision — (2 ) — Deferred taxation Other temporary differences (18 ) (27 ) (42 ) Change in estimated deferred tax rate (14 ) 7 10 (32 ) (22 ) (31 ) Foreign taxation Normal taxation 299 243 201 Prior year (over) under provision (1 ) 1 (26 ) Deferred taxation Temporary differences (28 ) (6 ) 19 Prior year (over) under provision 1 4 2 Change in estimate 9 (7 ) — Change in statutory tax rate 2 (1 ) (2 ) 282 234 194 250 212 163 |
Disclosure of Tax Rates | Figures in millions US Dollars Reconciliation to South African statutory rate 2019 2018 2017 Implied tax charge at 28% 173 125 92 Increase (decrease) due to: Expenses not tax deductible (1) 28 28 25 Share of associates and joint ventures' (profit) loss (47 ) (34 ) (6 ) Tax rate differentials (2) 39 25 29 Exchange variations, translation and accounting adjustments 11 24 6 Current year tax losses not recognised (recognised) in deferred tax assets: Obuasi mine 14 13 18 AngloGold Ashanti Holdings plc (3) 29 36 — North America 6 6 — Tax exempt entities: AngloGold Ashanti Holdings plc (3) — — 31 Other (2 ) (1 ) — Change in planned utilisation of deferred tax assets and impact of estimated deferred tax rate change (5 ) — 10 Tax effect of retained SA items 3 (10 ) (13 ) Tax allowances (1 ) (2 ) (3 ) Impact of statutory tax rate change 2 (1 ) (2 ) Adjustment in respect of prior years — 3 (24 ) Income tax expense 250 212 163 (1) Includes corporate and other costs, transfer pricing and British Virgin Isle group losses. (2) Due to different tax rates in various jurisdictions. (3) During 2018, AngloGold Ashanti Holdings plc changed its tax jurisdiction from the Isle of Man (taxed at 0% in 2017) to the United Kingdom (taxed at 19% in 2018 and 19% in 2019). |
Disclosure of Unrecognised Tax Losses | Figures in millions US Dollars 2019 2018 2017 Analysis of unrecognised deferred tax assets Tax losses available to be utilised against future profits - utilisation required within one year — 48 — - utilisation required between one and two years 85 187 48 - utilisation required between two and five years 356 300 333 - utilisation required between five and twenty years 973 1,229 1,210 - utilisation in excess of twenty years 73 26 1 1,487 1,790 1,592 |
Earnings (Loss) per Ordinary _2
Earnings (Loss) per Ordinary Share (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of earnings per share [Abstract] | |
Disclosure of Earnings Per Share | 2019 2018 2017 US cents per share Basic earnings (loss) per ordinary share (3 ) 32 (46 ) - Continuing operations 87 52 35 The calculation of basic earnings (loss) per ordinary share is based on profits (losses) attributable to equity shareholders of $364m (2018: $216m; 2017: $145m) and 418,349,777 (2018: 417,122,155; 2017: 415,440,077) shares being the weighted average number of ordinary shares in issue during the financial year. - Discontinued operations (90 ) (20 ) (81 ) The calculation of basic earnings (loss) per ordinary share is based on profits (losses) attributable to equity shareholders of ($376m) (2018: ($83m); 2017: ($336m)) and 418,349,777 (2018: 417,122,155; 2017: 415,440,077) shares being the weighted average number of ordinary shares in issue during the financial year. Diluted earnings (loss) per ordinary share (3 ) 32 (46 ) - Continuing operations 87 52 35 The calculation of diluted earnings (loss) per ordinary share is based on profits (losses) attributable to equity shareholders of $364m (2018: $216m; 2017: $145m)and 418,349,777 (2018: 417,379,405; 2017: 415,440,077) shares being the diluted number of ordinary shares. - Discontinued operations (90 ) (20 ) (81 ) The calculation of diluted earnings (loss) per ordinary share is based on profits (losses) attributable to equity shareholders of ($376m) (2018: ($83m); 2017: ($336m)) and 418,349,777 (2018: 417,379,405; 2017: 415,440,077) shares being the diluted number of ordinary shares. In calculating the basic and diluted number of ordinary shares outstanding for the year, the following were taken into consideration: Number of shares 2019 2018 2017 Ordinary shares 414,407,622 411,412,947 409,265,471 Fully vested options and currently exercisable (1) 3,942,155 5,709,208 6,174,606 Weighted average number of shares 418,349,777 417,122,155 415,440,077 Dilutive potential of share options (2) — 257,250 — Fully diluted number of ordinary shares 418,349,777 417,379,405 415,440,077 (1) Employee compensation awards are included in basic earnings per share from the date that all necessary conditions have been satisfied and it is virtually certain that shares will be issued as a result of employees exercising their options. (2) The number of share options that could potentially dilute basic earnings in the future but were not included as the effect was anti-dilutive were 517,186 ( 2018 : nil ; 2017 : 576,426 ) US Dollars Figures in millions 2019 2018 2017 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 (12 ) 133 (191 ) Net impairment (impairment reversal) and derecognition of assets 559 102 298 Net (profit) loss on disposal of assets (3 ) 32 (8 ) Taxation thereon (165 ) (47 ) (72 ) 379 220 27 13 EARNINGS (LOSS) PER ORDINARY SHARE (continued) 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 $379m (2018: $220m; 2017: $27m) and 418,349,777 (2018: 417,122,155; 2017: 415,440,077) shares being the weighted average number of ordinary shares in issue during the year. 91 53 6 Diluted headline earnings (loss) per share The calculation of diluted headline earnings (loss) per ordinary share is based on diluted headline earnings (losses) of $379m (2018: $220m; 2017: $27m) and 418,349,777 (2018: 417,379,405; 2017: 415,440,077) shares being the weighted average number of ordinary shares in issue during the year. 91 53 6 |
Dividends (Tables)
Dividends (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of share capital, reserves and other equity interest [Abstract] | |
Schedule of Dividends Paid | US Dollars Figures in million 2019 2018 2017 Ordinary shares Dividend number 118 of 130 SA cents per share was declared on 21 February 2017 and paid on 7 April 2017 (10 US cents per share) 39 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 27 24 39 |
Tangible Assets (Tables)
Tangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Property, plant and equipment [abstract] | |
Disclosure of Detailed Information About Tangible Assets | 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 US Dollars Cost Balance at 1 January 2017 5,943 4,576 919 5 450 82 11,975 Additions - project capital 28 3 — — 125 — 156 - stay-in-business capital 371 37 — — 257 — 665 Disposals (1 ) (20 ) — — — — (21 ) Transfers and other movements (1) (168 ) (21 ) (27 ) — (291 ) 1 (506 ) Transfer to assets and liabilities held for sale (785 ) (281 ) (7 ) — (72 ) (3 ) (1,148 ) Translation 174 88 7 — 21 3 293 Balance at 31 December 2017 5,562 4,382 892 5 490 83 11,414 Accumulated amortisation and impairments Balance at 1 January 2017 4,163 2,792 868 3 26 12 7,864 Amortisation for the year 553 272 3 — — 1 829 Impairment and derecognition of assets (5) 182 62 8 — 1 — 253 Disposals (1 ) (20 ) — — — — (21 ) Transfers and other movements (1) (326 ) (163 ) (27 ) — — — (516 ) Transfer to assets and liabilities held for sale (685 ) (169 ) (4 ) — (1 ) — (859 ) Translation 93 22 5 — — 2 122 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 Balance at 31 December 2017 3,979 2,796 853 3 26 15 7,672 Net book value at 31 December 2017 1,583 1,586 39 2 464 68 3,742 Cost Balance at 1 January 2018 5,562 4,382 892 5 490 83 11,414 Additions - project capital 2 — — — 175 — 177 - stay-in-business capital 294 20 3 — 149 1 467 Disposals (5 ) (30 ) — (1 ) — (3 ) (39 ) Transfers and other movements (1) 60 (41 ) — — (270 ) 1 (250 ) Translation (239 ) (119 ) (7 ) — (32 ) (5 ) (402 ) Balance at 31 December 2018 5,674 4,212 888 4 512 77 11,367 Accumulated amortisation and impairments Balance at 1 January 2018 3,979 2,796 853 3 26 15 7,672 Amortisation for the year 397 233 2 1 — 1 634 Impairment and derecognition of assets (5) — 104 — — — — 104 Disposals (5 ) (27 ) — (1 ) — (2 ) (35 ) Transfers and other movements (1) (52 ) (153 ) — — — — (205 ) Translation (135 ) (42 ) (6 ) — 1 (2 ) (184 ) 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 — — 1 281 14 339 - stay-in-business capital 208 25 1 2 188 — 424 Finance costs capitalised — — — — 6 — 6 Disposals (1 ) (16 ) — — — — (17 ) Transfers and other movements (1) (259 ) 219 1 — (489 ) (16 ) (544 ) Transfer to assets and liabilities held for sale (660 ) (663 ) (9 ) — (90 ) (9 ) (1,431 ) Translation (4 ) (1 ) — — (3 ) — (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 — — 609 Impairment and derecognition of assets (5) 243 172 — — 90 — 505 Disposals (1 ) (15 ) — — — — (16 ) Transfers and other movements (1) (455 ) (53 ) 1 — (3 ) (12 ) (522 ) Transfer to assets and liabilities held for sale (488 ) (422 ) (5 ) — (88 ) — (1,003 ) Translation (9 ) (5 ) — — (1 ) — (15 ) Balance at 31 December 2019 3,866 2,803 846 4 25 — 7,544 Net book value at 31 December 2019 1,135 973 35 3 380 66 2,592 (1) Transfers and other movements include amounts from deferred stripping, change in estimates of decommissioning assets, asset reclassifications and derecognition of assets. (2) Included in the amounts for mine infrastructure are assets held under finance leases with a net book value of nil (2018: $45 m; 2017: $56m ). (3) Included in the amounts for land and buildings are assets held under finance leases with a net book value of nil (2018: $3 m; 2017: $6 m). (4) Assets of $9 m (2018: $10 m; 2017: $11m ) have been pledged as security. (5) I mpairment and derecognition of assets is assessed as follows: |
Disclosure of Impairments and Derecognitions of Tangible Assets | For the year ended 31 December, the following impairments and derecognitions of tangible assets were recognised: Figures in millions - US Dollars 2019 (1) 2018 2017 First Uranium - Mine Waste Solutions 89 93 13 TauTona — — 79 Kopanang — — 35 Surface Operations 18 1 9 Moab Khotsong — — 112 Mponeng 384 4 2 Covalent 11 — — Obuasi — 5 — Siguiri 2 — — AGA Mineração 1 — — Other — 1 3 505 104 253 (1) Includes impairment of the South African asset disposal group, measured at fair value less costs to sell and disclosed in Discontinued operations. Refer to note 9. |
Disclosure of Impairment of Cash Generating Units | Based on an analysis carried out by the group in 2019, the carrying value and value in use of the most sensitive cash generating unit (CGU) are: Figures in millions - US Dollars Carrying value Value in use Kibali (1)(2) 1,506 1,628 (1) It is estimated that a decrease of the long-term real gold price of $1,300 /oz by 4.2% , would cause the receivable amount of Kibali to equal its carrying amount. The sensitivity analysis has been provided on the basis that the key assumption changes without a change in the other assumptions. However, for a change in each of the assumptions used, it is impracticable to disclose the consequential effect of changes on the other variables used to measure the recoverable amount because these assumptions and others used in impairment testing are inextricably linked. (2) Equity accounted investment included in investments in associates and joint ventures in the Statement of Financial Position. |
Disclosure of Marginal Headroom | Cash generating units with marginal headroom Based on an analysis carried out by the group in 2019, the carrying value and value in use of the most sensitive cash generating unit (CGU) are: Figures in millions - US Dollars Carrying value Value in use Kibali (1)(2) 1,506 1,628 (1) It is estimated that a decrease of the long-term real gold price of $1,300 /oz by 4.2% , would cause the receivable amount of Kibali to equal its carrying amount. The sensitivity analysis has been provided on the basis that the key assumption changes without a change in the other assumptions. However, for a change in each of the assumptions used, it is impracticable to disclose the consequential effect of changes on the other variables used to measure the recoverable amount because these assumptions and others used in impairment testing are inextricably linked. (2) Equity accounted investment included in investments in associates and joint ventures in the Statement of Financial Position. |
Right of Use Assets and Lease_2
Right of Use Assets and Lease Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Leases [Abstract] | |
Disclosure of Information about Right of use Assets | 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 — 32 Transfers and other movements (1) 58 15 73 Transfer to non-current assets and liabilities held for sale — (1 ) (1 ) Translation — 1 1 Balance at 31 December 2019 209 24 233 Accumulated amortisation and impairments Balance at 1 January 2019 — — — 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 (1) Relates to contracts previously classified as leases under IAS 17, which the group has reassessed upon initial transition as leases under IFRS 16 as of 1 January 2019. |
Disclosure of Quantitative Information about Leases for Lessee | US Dollar million 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 Lease liabilities recognised 160 Repayment of lease liabilities (42 ) Finance costs paid on lease liabilities (9 ) Interest charged to the income statement 10 Reclassification of finance leases from borrowings 60 Change in estimate (5 ) Translation (3 ) Closing balance 171 Lease finance costs paid included in the statement of cash flows 9 US dollar millions 2019 Amounts recognised in the income statement Amortisation expense on right of use assets 42 Interest expense on lease liabilities 10 Expenses on short term leases 83 Expenses on variable lease payments not included in the lease liabilities 220 Expenses on leases of low value assets 2 US Dollar million 2019 Lease liabilities Non-current 126 Current 45 Total 171 |
Disclosure of maturity analysis of operating lease payments [text block] | US Dollar million 2019 Maturity analysis of lease liabilities Undiscounted cash flows Less than and including 1 year 52 Between 1 and 5 years 89 Five years and more 57 Total 198 |
Reconciliation between IFRS 16 Lease Liabilities and Lease commitments as at 31 December 2018 | US Dollar million 2019 Reconciliation between IFRS 16 lease liabilities and lease commitments as at 31 December 2018 Lease liabilities at 1 January 2019 128 Discounting of lease liabilities 16 Non-qualifying leases (1) 121 Lease commitments at 31 December 2018 265 (1) Non-qualifying leases include leases that are short term in nature, low value items, or where the contractual repayment structures are variable in nature only, as well as the service components of qualifying contracts, not capitalised as part of the initial cost of the right of use assets. |
Intangible Assets (Tables)
Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of detailed information about intangible assets [abstract] | |
Schedule of Reconciliation of Changes in Intangible Assets and Goodwill | Figures in millions Goodwill Other Total US Dollars Cost Balance at 1 January 2017 379 185 564 Additions — 1 1 Transfer to assets and liabilities held for sale — (17 ) (17 ) Transfers and other movements (1) (263 ) (1 ) (264 ) Translation 11 4 15 Balance at 31 December 2017 127 172 299 Accumulated amortisation and impairments Balance at 1 January 2017 253 166 419 Amortisation for the year 6 6 Impairment 9 — 9 Transfer to assets and liabilities held for sale — (15 ) (15 ) Transfers and other movements (1) (263 ) (1 ) (264 ) Translation 1 5 6 Balance at 31 December 2017 — 161 161 Net book value at 31 December 2017 127 11 138 Cost Balance at 1 January 2018 127 172 299 Additions — 1 1 Disposals — (3 ) (3 ) Transfers and other movements (1) — 4 4 Translation (11 ) (7 ) (18 ) Balance at 31 December 2018 116 167 283 Accumulated amortisation and impairments Balance at 1 January 2018 — 161 161 Amortisation for the year 5 5 Disposals — (3 ) (3 ) Transfers and other movements (1) — 4 4 Translation — (7 ) (7 ) Balance at 31 December 2018 — 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 — (26 ) (26 ) Transfers and other movements (1) — 3 3 Balance at 31 December 2019 116 144 260 Accumulated amortisation and impairments Balance at 1 January 2019 — 160 160 Amortisation for the year 3 3 Transfer to assets and liabilities held for sale — (26 ) (26 ) Balance at 31 December 2019 — 137 137 Net book value at 31 December 2019 116 7 123 (1) Transfers and other movements include amounts from asset reclassifications and amounts written off. |
Schedule of Goodwill Impairment Assumptions | Based on an analysis carried out by the group in 2019, the carrying value and value in use of cash generating units (CGUs) with goodwill that were most sensitive is: 2019 US Dollars Figures in millions Carrying Value Value in use Sunrise Dam 220 363 |
Schedule of Goodwill Allocation | Net book value of goodwill allocated to each of the CGUs: US Dollars Figures in millions 2019 2018 2017 - Sunrise Dam 108 108 119 - Serra Grande 8 8 8 116 116 127 Real pre-tax discount rates applied in impairment calculations on CGUs for which the carrying amount of goodwill is significant are as follows: - Sunrise Dam (1) 10.8 % 8.3 % 8.3 % Goodwill has been allocated to its respective CGUs where it is tested for impairment as part of the CGU . The group reviews and tests the carrying value of goodwill on an annual basis for impairment. The discount rates for 2019 were determined on a basis consistent with the 2018 discount rates. (1) The value in use of the CGU is $363 m in 2019 (2018: $750 m; 2017: $402 m). |
Material Partly-Owned Subsidi_2
Material Partly-Owned Subsidiaries (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Interests In Other Entities [Abstract] | |
Disclosure of interest in subsidiaries | Name Non-controlling interest holding Country of incorporation and operation 2019 2018 2017 Cerro Vanguardia S.A. (CVSA) 7.5 % 7.5 % 7.5 % Argentina Société AngloGold Ashanti de Guinée S.A. (Siguiri) 15 % 15 % 15 % Republic of Guinea Financial information of subsidiaries that have material non-controlling interests are provided below: US Dollars Figures in millions 2019 2018 2017 Profit (loss) allocated to material non-controlling interests CVSA 5 9 7 Siguiri — 8 13 Accumulated balances of material non-controlling interests CVSA 13 14 13 Siguiri 23 32 32 Summarised financial information of subsidiaries is as follows. The information is based on amounts including inter-company balances. US Dollars Figures in millions CVSA Siguiri 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 — 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 ) Statement of profit or loss for 2017 Revenue 517 489 Profit (loss) for the year 96 88 Total comprehensive income (loss) for the year, net of tax 96 88 Attributable to non-controlling interests 7 13 Dividends paid to non-controlling interests (9 ) (10 ) Summarised financial information of subsidiaries is as follows. The information is based on amounts before inter-company eliminations. US Dollars Figures in millions CVSA Siguiri 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 financial position as at 31 December 2017 Non-current assets 193 206 Current assets 171 189 Non-current liabilities (103 ) (101 ) Current liabilities (84 ) (82 ) Total equity 177 212 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 ) Statement of cash flows for the year ended 31 December 2017 Cash inflow (outflow) from operating activities 189 152 Cash inflow (outflow) from investing activities (55 ) (82 ) Cash inflow (outflow) from financing activities (118 ) (58 ) Net increase (decrease) in cash and cash equivalents 16 12 |
Investments in Associates and_2
Investments in Associates and Joint Ventures (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Interests In Other Entities [Abstract] | |
Disclosure of Interests in Associates | US Dollars Figures in millions 2019 2018 2017 Carrying value Investments in associates 40 36 36 Investments in joint ventures 1,541 1,492 1,471 1,581 1,528 1,507 Detailed disclosures are provided for the years in which investments in associates and joint ventures are considered to be material. Summarised financial information of immaterial associates is as follows: US Dollars Figures in millions 2019 2018 2017 Aggregate statement of profit or loss for associates (attributable) Revenue 20 19 21 Operating (expenses) income (1) 3 (4 ) (11 ) Taxation — (1 ) 2 Profit (loss) for the year 23 14 12 Total comprehensive profit (loss) for the year, net of tax 23 14 12 (1) Includes share of associate profit |
Disclosure of Interests in Joint Ventures | Investments in material joint ventures comprise: Name Effective % Description Country of incorporation and operation 2019 2018 2017 Kibali Goldmines S.A. (1) 45.0 45.0 45.0 Exploration and mine development The Democratic Republic of the Congo (1) AngloGold Ashanti Limited has a 50% interest in Kibali (Jersey) Limited (Kibali) which holds our effective 45% interest in Kibali Goldmines S.A. US Dollars Figures in millions 2019 2018 2017 Carrying value of joint ventures Kibali 1,506 1,439 1,423 Immaterial joint ventures 35 53 48 1,541 1,492 1,471 Reversal (impairment) of investments in joint ventures Sadiola (note 8) 6 14 2 US Dollars Figures in millions 2019 2018 2017 The cumulative unrecognised share of losses of the joint ventures: Morila 8 8 7 Yatela 2 3 2 19 INVESTMENTS IN ASSOCIATES AND JOINT VENTURES (continued) Summarised financial information of joint ventures is as follows (not attributable): US Dollars Kibali Figures in millions 2019 2018 2017 Statement of profit or loss Revenue 1,123 1,098 755 Other operating costs and expenses (479 ) (539 ) (530 ) Amortisation of tangible and intangible assets (282 ) (330 ) (264 ) Finance costs and unwinding of obligations (4 ) (4 ) (5 ) Interest received 4 3 4 Taxation (62 ) (16 ) 54 Profit for the year 300 212 14 Total comprehensive income for the year, net of tax 300 212 14 Dividends received from joint venture (attributable) 75 89 — US Dollars Kibali Figures in millions 2019 2018 2017 Statement of financial position Non-current assets 2,522 2,659 2,834 Current assets 183 205 166 Cash and cash equivalents 453 124 3 Total assets 3,158 2,988 3,003 Non-current financial liabilities 45 29 41 Other non-current liabilities 26 24 23 Current financial liabilities 11 11 7 Other current liabilities 66 64 107 Total liabilities 148 128 178 Net assets 3,010 2,860 2,825 Group’s share of net assets 1,505 1,430 1,413 Other 1 9 10 Carrying amount of interest in joint venture 1,506 1,439 1,423 US Dollars Figures in millions 2019 2018 2017 Aggregate statement of profit (loss) for immaterial joint ventures (attributable) Revenue 111 112 113 Other operating costs and expenses (94 ) (92 ) (94 ) Amortisation of tangible and intangible assets (7 ) (15 ) (16 ) Taxation (7 ) (2 ) (2 ) Profit (loss) for the year 3 3 1 Total comprehensive income (loss) for the year, net of tax 3 3 1 |
Other Investments (Tables)
Other Investments (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of detailed information about financial instruments [abstract] | |
Disclosure of Other Investments | US Dollars Figures in millions 2019 2018 2017 Listed investments (1) Non-current investments Equity investments at fair value through profit and loss (FVTPL) Balance at beginning of year 19 26 Additions 1 2 Disposals (1 ) (2 ) Fair value adjustments 1 (3 ) Transfer to non-current assets and liabilities held for sale (21 ) — Translation 1 (4 ) Balance at end of year — 19 Equity investments at fair value though OCI (FVTOCI) Balance at beginning of year 63 47 Additions 9 13 Disposals — (7 ) Fair value adjustments — 10 Balance at end of year 72 63 The group reclassified its listed investments as FVTPL and FVTOCI on adoption of IFRS 9 on 1 January 2018. The non-current equity investments consist of ordinary shares and collective investment schemes and primarily comprise: International Tower Hill Mines Limited (ITH) — — 7 Corvus Gold Corporation 41 43 25 Various listed investments held by Environmental Rehabilitation Trust Fund — 16 22 Pure Gold Mining 31 18 11 Other — 5 8 72 82 73 (1) The group’s listed equity investments are susceptible to market price risk arising from uncertainties about the future values of the investments. At the reporting date, the FVTOCI equity investments were listed on the Toronto Stock Exchange. 20 OTHER INVESTMENTS (continued) US Dollars Figures in millions 2019 2018 2017 Listed investments (continued) Non-current investments (continued) Investments at amortised cost Balance at beginning of year 12 4 6 Additions 11 15 — Disposals (9 ) (6 ) (2 ) Transfer to non-current assets and liabilities held for sale (15 ) — — Translation 1 (1 ) — — 12 4 The amortised cost investment consists of government bonds held by the Environmental Rehabilitation Trust Fund administered by Ashburton Investments. Current investments Listed investments - FVTOCI (1) (2) 10 6 7 Book value of listed investments 82 100 84 Unlisted investments Non-current investments Balance at beginning of year 47 54 73 Additions 45 48 81 Maturities (44 ) (45 ) (73 ) Transfer to non-current assets and liabilities held for sale (48 ) — (32 ) Fair value adjustment- FVTOCI 2 — — Other — (2 ) — Translation 2 (8 ) 5 Balance at end of year 4 47 54 The unlisted investments include: Negotiable Certificates of Deposit - Environmental Rehabilitation Trust Fund administered by Ashburton Investments — 46 53 Other 4 1 1 4 47 54 Book value of unlisted investments 4 47 54 Non-current other investments 76 141 131 Total book value of other investments 86 147 138 (1) The group’s listed equity investments are susceptible to market price risk arising from uncertainties about the future values of the investments. At the reporting date, the FVTOCI equity investments were listed on the Toronto Stock Exchange. (2) During 2019 a fair value adjustment of $4m to the Sandstorm investment was recognised. |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of inventories [Abstract] | |
Disclosure of Inventory by Type | US Dollars Figures in millions 2019 2018 2017 Non-current Raw materials - ore stockpiles 93 106 100 Current Raw materials - ore stockpiles 229 251 261 - heap-leach inventory 4 3 5 Work in progress - metals in process 51 44 58 Finished goods - gold doré/bullion 42 57 59 - by-products 1 — 5 Total metal inventories 327 355 388 Mine operating supplies 305 297 295 632 652 683 Total inventories (1) 725 758 783 (1) The amount of the write-down of ore stockpiles, metals in process, by-products and mine operating supplies to net realisable value, and recognised as an expense during the year in other expenses and cost of sales is $4m (2018: $19m ; 2017: $17m ). |
Trade, other receivables and _2
Trade, other receivables and other assets (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Subclassifications of assets, liabilities and equities [abstract] | |
Disclosure of Trade, Other Receivables and Other Assets by Type | US Dollars Figures in millions 2019 2018 2017 Non-current Prepayments 15 18 17 Recoverable tax, rebates, levies and duties 107 84 50 122 102 67 Current Trade and loan receivables 47 33 27 Prepayments 61 42 62 Recoverable tax, rebates, levies and duties 130 116 127 Other receivables 12 18 6 250 209 222 Total trade, other receivables and other assets 372 311 289 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 Continental Africa segment. These values are summarised as follows: Recoverable value added tax 167 126 106 Recoverable fuel duties 43 41 38 Appeal deposits 10 10 10 |
Cash Restricted for Use (Tables
Cash Restricted for Use (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure Of Additional Information [Abstract] | |
Cash Restricted for Use by Type | CASH RESTRICTED FOR USE US Dollars Figures in millions 2019 2018 2017 Non-current 31 35 37 Current Cash restricted by prudential solvency requirements and other 27 24 18 Cash balances held by the Tropicana - joint venture 6 7 10 33 31 28 Total cash restricted for use (note 35 and 36) 64 66 65 |
Cash And Cash Equivalents (Tabl
Cash And Cash Equivalents (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Cash and cash equivalents [abstract] | |
Cash and Cash Equivalents by Type | US Dollars Figures in millions 2019 2018 2017 Cash and deposits on call 417 312 170 Money market instruments 39 17 35 Total cash and cash equivalents (note 35 and note 36) 456 329 205 |
Share Capital and Premium (Tabl
Share Capital and Premium (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Share Capital, Reserves And Other Equity Interest [Abstract] | |
Disclosure of Share Capital | US Dollars Figures in millions 2019 2018 2017 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 — — — 5,000,000 B redeemable preference shares of 1 SA cent each — — — 30,000,000 C redeemable preference shares of no par value — — — 23 23 23 Issued and fully paid 415,301,215 (2018: 412,769,980; 2017: 410,054,615) ordinary shares of 25 SA cents each 17 16 16 2,000,000 A redeemable preference shares of 50 SA cents each — — — 778,896 B redeemable preference shares of 1 SA cent each — — — 17 16 16 Treasury shares held within the group: 2,778,896 A and B redeemable preference shares — — — 17 16 16 Share premium Balance at beginning of year 7,208 7,171 7,145 Ordinary shares issued - share premium 27 37 26 7,235 7,208 7,171 Less: held within the group Redeemable preference shares (53 ) (53 ) (53 ) Balance at end of year 7,182 7,155 7,118 Share capital and premium 7,199 7,171 7,134 |
Borrowings (Tables)
Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of borrowing costs [Abstract] | |
Disclosure of Detailed Information About Borrowings | US Dollars Figures in millions 2019 2018 2017 Non-current Unsecured Debt carried at amortised cost Rated bonds - issued July 2012 762 761 759 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 1,003 1,002 1,001 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 bonds are repayable in April 2020 and the $300m bonds are repayable in April 2040. The bonds are US dollar-based. Syndicated revolving credit facility ($1bn) — — 32 The facility was issued on 17 July 2014 and cancelled during October 2018. Replaced with a $1.4bn multi-currency facility. Syndicated revolving credit facility (A$500m) — — 163 The loan was cancelled in October 2018 and replaced by a $1.4bn multi-currency facility which is capped at A$500m. Syndicated revolving credit facility (R2.5bn) — — 56 Quarterly interest paid at JIBAR plus 1.8% per annum. The facility was issued on 12 December 2017 and is available until 12 December 2022. The loan is SA rand-based. Syndicated loan facility (R1.4bn) — 28 81 Quarterly interest paid at JIBAR plus 1.65% per annum. The facility was issued on 7 July 2015 and is available until 7 July 2020. The loan is SA rand-based. The facility was cancelled on 19 February 2020. Syndicated loan facility (R1bn) 72 35 81 Quarterly interest paid at JIBAR plus 1.3% per annum. The facility was issued on 3 November 2017 and is available until 3 November 2022. The loan is SA rand-based. Siguiri revolving credit facilities ($65m) 67 — — Interest paid at 8% above LIBOR. The facility was issued on 23 August 2016, is available until 27 February 2022 and is US dollar-based. Geita revolving credit facility ($150m) 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 6 April 2021. Other — — 1 Interest charged at various rates from 2.5% plus delta exchange rate on individual instalments per annum to 4.5% per annum. Repayments terminate in June 2023. All loans are Brazilian real-based. The loans are subject to debt covenant arrangements for which no default event occurred. Multi-currency syndicated revolving credit facility ($1.4bn multi-currency RCF) 15 — — 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 A$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. Revolving credit facilities ($100m) — 103 16 US Dollars Figures in millions 2019 2018 2017 During 2019 the loans outstanding under these facilities were refinanced and included in the Geita and Siguiri revolving credit facilities. Non-current (continued) Secured Finance leases (1) Turbine Square Two (Pty) Limited — 9 15 The lease is capitalised at an implied interest rate of 9.8% per annum. Lease payments are due in monthly instalments terminating in March 2022 and are SA rand-based. The building financed is used as security for these loans. Australian Gas Pipeline — 48 58 The contract with the supplier of gas contains embedded leases which have been determined to bear interest at an average of 6.75% per annum. The embedded leases commenced in November and December 2015 and are for a 10 and 12 year duration, respectively. The leases are repayable in monthly instalments and are Australian dollar-based. The equipment related to the embedded leases is used as security for these loans. Other — 4 5 Various loans with interest rates ranging from 2.5% to 14.7% per annum. These loans are repayable from 2016 to 2041. Some of these loans are secured by the financed assets. Total borrowings (note 35) 2,033 2,050 2,268 Current portion of borrowings (note 36) (734 ) (139 ) (38 ) Total non-current borrowings (note 36) 1,299 1,911 2,230 Amounts falling due Within one year 734 139 38 Between one and two years 110 734 219 Between two and five years 898 860 1,687 After five years 291 317 324 (note 35) 2,033 2,050 2,268 (1) The Finance leases have been included in the lease liabilities from 1 January 2019 (refer to note 16). US Dollars Figures in millions 2019 2018 2017 Currency The currencies in which the borrowings are denominated are as follows: US dollar 1,893 1,896 1,807 Australian dollar 21 48 221 SA rand 72 75 237 Tanzanian shilling 47 29 — Brazilian real — 2 3 (notes 35) 2,033 2,050 2,268 Undrawn facilities Undrawn borrowing facilities as at 31 December are as follows: Syndicated revolving credit facility ($1bn) - US dollar — — 965 Syndicated revolving credit facility (A$500m) - Australian dollar — — 226 Syndicated revolving credit facility (R2.5bn) - SA rand 179 174 146 Syndicated revolving credit facility (R1.4bn) - SA rand 100 70 32 FirstRand Bank Limited (R750m) - SA rand 54 52 61 Revolving credit facilities ($100m) - US dollar — — 85 Revolving credit facility (R1bn) - SA rand — 35 — Multi currency syndicated revolving credit facility ($1.4bn) - US Dollar 1,379 1,400 — Revolving credit facility - $150m 40 57 — 1,752 1,788 1,515 Changes in liabilities arising from financing activities: Reconciliation of total borrowings: A reconciliation of total borrowings included in the statement of financial position is set out below: Opening balance 2,050 2,268 2,178 Proceeds from borrowings 168 753 815 Repayment of borrowings (123 ) (967 ) (767 ) Finance costs paid on borrowings (122 ) (117 ) (125 ) Deferred loan fees (7 ) — — Interest charged to the income statement 127 127 130 Reclassification of finance leases to lease liabilities (60 ) — — Translation — (14 ) 37 Closing balance 2,033 2,050 2,268 Reconciliation of finance costs paid: A reconciliation of finance costs paid included in the statement of cash flows is set out below: Finance costs paid on borrowings 122 117 125 Capitalised finance cost (6 ) — — Commitment fees, utilisation fees and other borrowing costs 12 13 13 Total finance costs paid 128 130 138 |
Environmental Rehabilitation _2
Environmental Rehabilitation and Other Provisions (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of other provisions, contingent liabilities and contingent assets [Abstract] | |
Disclosure of Environmental Rehabilitation and Other Provisions | US Dollars Figures in millions 2019 2018 2017 Environmental rehabilitation obligations Provision for decommissioning Balance at beginning of year 237 286 279 Charge to income statement — 1 2 Change in estimates (1) 29 (47 ) 4 Unwinding of decommissioning obligation 10 12 12 Transfer to assets and liabilities held for sale (81 ) — (20 ) Utilised during the year (1 ) (1 ) (2 ) Translation 2 (14 ) 11 Balance at end of year 196 237 286 Provision for restoration Balance at beginning of year 385 409 426 Charge to income statement (1 ) 2 8 Change in estimates (1) 50 (28 ) (17 ) Unwinding of restoration obligation 9 12 10 Transfer to assets and liabilities held for sale (15 ) — (3 ) Transfer to current portion — — (17 ) Utilised during the year (5 ) (3 ) (4 ) Translation — (7 ) 6 Balance at end of year 423 385 409 Other provisions (2) Balance at beginning of year 205 247 172 Charge to income statement 39 24 17 Change in estimates 27 18 15 Additions — — 64 Transfer to assets and liabilities held for sale (115 ) — — Transfer to trade and other payables (73 ) (26 ) (6 ) Unwinding of other provisions 6 7 1 Utilised during the year (16 ) (35 ) (35 ) Translation 5 (30 ) 19 Balance at end of year 78 205 247 Total environmental rehabilitation and other provisions 697 827 942 (1) The change in estimates is attributable to changes in discount rates due to changes in global economic assumptions and changes in mine plans resulting in a change in cash flows and changes in design of tailings storage facilities and in methodology following requests from the environmental regulatory authorities. These provisions are expected to unwind beyond the end of the life of mine. (2) Other provisions include the long-term provision for the silicosis class action litigation of $54m (2018: $47m ; 2017: $63m ), the short-term portion of $11m (2018; $16m ; 2017: nil ) has been included in trade and other payables. |
Provision for Pension and Pos_2
Provision for Pension and Post-retirement Benefits (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of employee benefits [Abstract] | |
Disclosure of Pension and Post-retirement Benefits | US Dollars Figures in millions 2019 2018 2017 Defined benefit plans The retirement schemes consist of the following: Post-retirement medical scheme for AngloGold Ashanti's South African employees 93 93 114 Other defined benefit plans 7 7 8 Sub-total 100 100 122 28 PROVISION FOR PENSION AND POST-RETIREMENT BENEFITS (continued) Figures in millions 2019 2018 2017 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 2019. Information with respect to the defined benefit liability is as follows: Benefit obligation Balance at beginning of year 93 115 109 Interest cost 8 9 10 Benefits paid (8 ) (10 ) (9 ) Actuarial (gain) loss (2 ) (5 ) (8 ) Translation 2 (16 ) 13 Balance at end of year 93 93 115 Less: transfer to non-current assets and liabilities held for sale — — (1 ) Net amount recognised 93 93 114 Components of net periodic benefit cost Interest cost 8 9 10 Net periodic benefit cost 8 9 10 Assumptions Assumptions used to determine benefit obligations at the end of the year are as follows: Discount rate 9.15 % 9.57 % 9.29 % Expected increase in health care costs 7.25 % 7.35 % 7.75 % Assumed health care cost trend rates at 31 December: Health care cost trend assumed for next year 7.25 % 7.35 % 7.75 % Rate to which the cost trend is assumed to decline (the ultimate trend rate) 7.25 % 7.35 % 7.75 % 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 1 1 Effect on post-retirement benefit obligation – 1% point increase 7 7 10 Effect on total service and interest cost – 1% point decrease (1 ) (1 ) (1 ) Effect on post-retirement benefit obligation – 1% point decrease (6 ) (7 ) (8 ) Cash flows Contributions AngloGold Ashanti Limited expects to contribute $9m to the post-retirement medical plan in 2020. Estimated future benefit payments The following medical benefit payments, which reflect the expected future service, as appropriate, are expected to be paid: 2020 9 2021 9 2022 9 2023 9 2024 10 Thereafter 47 |
Deferred Taxation (Tables)
Deferred Taxation (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of income tax [Abstract] | |
Disclosure of Deferred Taxation | US Dollars Figures in millions 2019 2018 2017 Deferred taxation relating to temporary differences is made up as follows: Liabilities Tangible assets (owned) 370 521 604 Right-of-use assets 48 Inventories 24 37 33 Other 9 5 15 451 563 652 Assets Provisions 209 218 229 Lease liabilities 52 Tax losses 45 24 60 Other 9 6 4 315 248 293 Net deferred taxation liability 136 315 359 Included in the statement of financial position as follows: Deferred tax assets 105 — 4 Deferred tax liabilities 241 315 363 Net deferred taxation liability 136 315 359 The movement on the deferred tax balance is as follows: Balance at beginning of year 315 359 492 Taxation of items included in income statement from continuing and discontinued operations (189 ) (30 ) (68 ) Taxation on items included in other comprehensive income (2 ) 5 (6 ) Transfer to non-current assets and liabilities held for sale 15 — (73 ) Translation (3 ) (19 ) 14 Balance at end of year 136 315 359 |
Trade, Other Payables and Pro_2
Trade, Other Payables and Provisions (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Trade and other payables [abstract] | |
Disclosure of Trade, Other Payables and Deferred Income by Nature | US Dollars Figures in millions 2019 2018 2017 Non-current Other payables 15 3 3 Current Trade payables 363 350 358 Accruals (1) 167 186 228 Short-term provisions 53 20 22 Derivatives — 9 — Other payables 3 29 30 586 594 638 Total trade, other payables and provisions 601 597 641 Current trade and other payables are non-interest bearing and are normally settled within 60 days. (1) Includes accrual for silicosis of $11m in 2019 (2018: $16m ; 2017: nil ). |
Taxation (Tables)
Taxation (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of income tax [Abstract] | |
Disclosure of Income Tax Payable | US Dollars Figures in millions 2019 2018 2017 Balance at beginning of year 54 50 97 Refunds during the year 7 5 14 Payments during the year (228 ) (171 ) (174 ) Taxation of items included in the income statement 298 242 190 Offset of VAT and other taxes (50 ) (63 ) (78 ) Transfer from tax receivable relating to North America (10 ) — — Translation (9 ) (9 ) 1 Balance at end of year 62 54 50 Included in the statement of financial position as follows: Taxation asset included in trade and other receivables (10 ) (6 ) (3 ) Taxation liability 72 60 53 62 54 50 |
Cash Generated From Operations
Cash Generated From Operations (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Statement of cash flows [abstract] | |
Disclosure of Cash Generated From Operations | US Dollars Figures in millions 2019 2018 2017 Profit (loss) before taxation 619 445 328 Adjusted for: Movement on non-hedge derivatives and other commodity contracts (6 ) 6 1 Amortisation of tangible assets and right of use assets (note 4) 580 553 685 Finance costs and unwinding of obligations (note 7) 172 168 157 Environmental, rehabilitation and other expenditure (6 ) (23 ) (26 ) Impairment, derecognition of assets and profit (loss) on disposal 3 5 (1 ) Other expenses (income) 41 28 89 Amortisation of intangible assets (notes 4) 3 5 5 Interest income (14 ) (8 ) (8 ) Share of associates and joint ventures’ (profit) loss (note 8) (168 ) (122 ) (22 ) Other non-cash movements 43 (4 ) (4 ) Movements in working capital (165 ) (122 ) (137 ) 1,102 931 1,067 Movements in working capital: (Increase) decrease in inventories (67 ) (2 ) (67 ) (Increase) decrease in trade, other receivables and other assets (138 ) (74 ) (86 ) Increase (decrease) in trade, other payables and deferred income 40 (46 ) 16 (165 ) (122 ) (137 ) |
Related Parties (Tables)
Related Parties (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Related Party [Abstract] | |
Disclosure of Transactions Between Related Parties | US Dollars Figures in millions 2019 2018 2017 Material related party transactions were as follows (not attributable): Sales and services rendered to related parties Associates 19 — — Joint ventures 7 10 12 Purchases and services acquired from related parties Associates 12 19 16 Joint ventures 1 — 3 Outstanding balances arising from sale of goods and services due by related parties Associates 19 19 7 Joint ventures 1 — 2 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) |
Disclosure of Notice Period and Change of Control Period by Executive Category | The notice period applied per category of executive and the change in control periods as at 31 December 2019 were as follows: Executive Committee member Notice Period Change of control CEO 12 months 12 months CFO 6 months 6 months EXCO 6 months 6 months |
Disclosure of Key Management Remuneration | The table below details the fees and allowances paid to Non-Executive Directors: Non-Executive Directors’ fees and allowances Figures in thousands (1) Figures in thousands (1) Director fees Committee fees Travel allowance Total Total Total US Dollars (1) 2019 2019 2018 2017 SM Pityana (Chairman) 303,000 73,750 10,000 386,750 441 372 AH Garner 123,500 37,000 35,000 195,500 200 201 AM Ferguson (2) 123,500 50,500 42,500 216,500 52 — DL Hodgson (3) 33,500 13,500 — 47,000 190 167 JE Tilk (2) 123,500 47,000 60,000 230,500 — — M Ramos (4) 70,000 30,500 6,250 106,750 — — MDC Richter 123,500 71,750 35,000 230,250 235 203 MJ Kirkwood (3) 33,500 22,250 6,250 62,000 247 231 NP January-Bardill 123,500 56,000 6,250 185,750 198 180 R Gasant 123,500 63,500 6,250 193,250 229 182 RJ Ruston 123,500 56,000 38,750 218,250 261 212 Total Fees For 2019 1,304,500 521,750 246,250 2,072,500 2,053 1,748 (1) Directors' compensation is disclosed in US dollars. (2) Director's travel allowance includes travel for site induction. (3) Directors resigned effective 9 May 2019. (4) Director joined on 1 June 2019. The tables below illustrate the single total figure of remuneration and the total cash equivalent received reconciliation of Executive Directors and Prescribed Officers as prescribed by King IV. It comprises an overview of all the pay elements available to the executive management team for the year ended 31 December 2019. The following are definitions of terminology used in the adoption of the reporting requirements under King IV. Reflected In respect of the DSP and LTIP plans, remuneration is reflected when performance conditions have been met during the reporting period. Settled This refers to remuneration that has been included in prior reporting periods and has now become payable (but may not yet have been paid) to the executive in the current period. Single total figure remuneration Base salary Pension scheme benefits Once-off relocation costs Cash in lieu of dividends Other benefits (2) Awards earned during the period reflected but not yet settled Single total figure of remuneration ZAR denominated portion USD/AUD denominated portion (1) DSP 2019 awards (3) CSLTIP 2017 awards (4) Sign-on awards granted (5) 2019 2018 2017 ZAR '000 ZAR '000 ZAR '000 ZAR '000 ZAR '000 ZAR '000 ZAR '000 ZAR '000 ZAR '000 ZAR '000 USD '000 (8) USD '000 (8) USD '000 (8) Executive directors KPM Dushnisky — 18,608 4,648 2,726 142 2,578 61,842 — — 90,544 6,268 7,570 — KC Ramon 5,585 3,981 779 — 194 893 29,135 33,064 — 73,631 5,097 3,547 2,190 Total executive directors 5,585 22,589 5,427 2,726 336 3,471 90,977 33,064 — 164,175 11,365 11,117 2,190 Prescribed officers SD Bailey 3,879 2,560 — — 37 1,160 18,087 5,917 — 31,640 2,190 — — CE Carter (6) — 2,791 5,524 — — 2,277 — — — 10,592 733 3,719 2,322 PD Chenard (7) 2,933 3,900 — 1,270 — 1,729 18,362 — 19,356 47,550 3,292 — — GJ Ehm — 9,074 251 — 163 611 25,329 33,064 — 68,492 4,742 3,286 2,096 L Eybers 1,377 7,945 251 1,135 64 2,310 25,054 29,160 — 67,296 4,659 2,511 1,680 DC Noko (6) 869 396 117 — 17 1,110 — — — 2,509 174 2,846 1,642 S Ntuli 4,607 2,871 631 — 36 343 21,041 7,526 — 37,055 2,565 — — ME Sanz Perez 4,481 3,184 958 — 169 68 20,567 26,447 — 55,874 3,868 2,833 1,637 CB Sheppard (6) 1,159 528 160 — 169 830 — — — 2,846 197 2,961 1,413 TR Sibisi 4,944 2,337 910 — 158 61 19,638 22,713 — 50,761 3,514 2,699 1,126 Total prescribed officers 24,249 35,586 8,802 2,405 813 10,499 148,078 124,827 19,356 374,615 25,934 20,855 11,916 Notes: (1) Salary denominated in USD/AUD for global roles and responsibilities converted to ZAR on payment date. (2) Other benefits include health care, group personal accident, disability, funeral cover, accommodation allowance, airfare and surplus leave encashed. Surplus leave days accrued are automatically encashed unless work requirements allow for carry over. (3) The fair value of the DSP comprises of a cash bonus and share awards for the year ended 31 December 2019 with the cash bonus payable in February 2020 and the share awards allocated in February 2020, vesting over a 5 -year period in equal tranches. (4) The fair value of the CSLTIP granted in 2017 with a 3 -year performance period ended 31 December 2019. The awards vested on 1 March 2020. (5) PD Chenard was awarded a sign-on award of ZAR 19.36m at start date,1 April 2019, of which ZAR 6.33m will be settled in cash with 50% payable upfront, the balance on 1 April 2020 and ZAR 13.03m will be settled in shares to vest over a 2 year period in equal tranches in accordance with the JSE Listing requirements. (6) All salary payments (including salary, performance related payments, pension and other benefits) for CE Carter (retired 28 March 2019), DC Noko (retired 28 February 2019) and CB Sheppard (retired 15 March 2019) are pro-rated in accordance with their retirement dates. (7) All salary payments (including salary, performance related payments, pension and other benefits) for PD Chenard are pro-rated in accordance with his start date, 1 April 2019. (8) Convenience conversion to USD at the year-to-date average exchange rate of $1:R 14.445 (2018: $1:R 13.247 ; 2017 $1:R 13.301 ). 33 RELATED PARTIES (continued) Directors and other key management personnel (continued) Total cash equivalent received reconciliation Single total figure remuneration Awards earned during the period reflected but not yet settled DSP 2018 cash portion settled BSP, CIP and LTIP share awards settled Sign-on cash settled Sign-on shares settled Total cash equivalent received DSP 2019 awards (1) CSLTIP 2017 awards (2) Sign-on awards granted (3) Grant fair value (4) Market movement since grant date (4) Vesting fair value (4) Grant fair value (4) Currency movement since grant date (4) Settlement fair value (4) Grant fair value (4) Market movement since grant date (4) Vesting fair value (4) 2019 2018 2017 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 ZAR '000 ZAR '000 USD '000 (5) USD '000 (5) USD '000 (5) Executive directors KPM Dushnisky 90,544 (61,842 ) — — 7,119 — — — 17,616 (1,010 ) 16,606 20,188 18,357 38,545 90,972 6,298 550 — KC Ramon 73,631 (29,135 ) (33,064 ) — 8,378 21,504 2,849 24,353 — — — — — — 44,163 3,057 1,936 1,515 Total executive directors 164,175 (90,977 ) (33,064 ) — 15,497 21,504 2,849 24,353 17,616 (1,010 ) 16,606 20,188 18,357 38,545 135,135 9,355 2,486 1,515 — — Prescribed officers SD Bailey 31,640 (18,087 ) (5,917 ) — 2,613 4,066 724 4,789 — — — — — — 15,038 1,041 — — CE Carter 10,592 — — — 8,778 26,276 3,913 30,188 — — — — — — 49,558 3,431 1,967 1,907 PD Chenard 47,550 (18,362 ) — (16,191 ) — — — — — — — — — — 12,997 900 — — GJ Ehm 68,492 (25,329 ) (33,064 ) — 7,113 19,622 (198 ) 19,424 — — — — — — 36,636 2,536 1,751 1,758 L Eybers 67,296 (25,054 ) (29,160 ) — 6,701 7,463 2,825 10,289 — — — — — — 30,072 2,082 1,233 1,101 DC Noko 2,509 — — — 5,851 24,906 4,316 29,222 — — — — — — 37,582 2,602 1,436 1,381 S Ntuli 37,055 (21,041 ) (7,526 ) — 3,269 3,956 1,046 5,002 — — — — — — 16,759 1,160 — — ME Sanz Perez 55,874 (20,567 ) (26,447 ) — 5,864 18,839 1,460 20,299 — — — — — — 35,023 2,425 1,399 1,350 CB Sheppard 2,846 — — — 6,186 25,446 4,338 29,783 — — — — — — 38,815 2,687 1,146 887 TR Sibisi 50,761 (19,638 ) (22,713 ) — 5,495 17,709 876 18,585 — — — — — — 32,490 2,249 886 674 Total prescribed officers 374,615 (148,078 ) (124,827 ) (16,191 ) 51,870 148,283 19,300 167,581 — — — — — — 304,970 21,113 9,818 9,058 Notes: (1) The fair value of the DSP comprises of a cash bonus and share awards for the year ended 31 December 2019 with the cash bonus payable in February 2020 and the share awards allocated in February 2020, vesting over a 5 -year period in equal tranches. (2) The fair value of the CSLTIP granted in 2017 with a 3 -year performance period ended 31 December 2019. The awards vested on 1 March 2020. (3) PD Chenard was awarded a sign-on award of ZAR 19.36m at start date,1 April 2019, of which ZAR 6.33m will be settled in cash with 50% payable upfront, the balance on 1 April 2020 and ZAR 13.03m will be settled in shares to vest over a 2 year period in equal tranches in accordance with the JSE Listing requirements. (4) Reflects the sum of all the grant fair value, the sum of all the share price movements since grant to vesting date and the sum of all the vesting fair value for the vested CSLTIP 2016, vested BSP 2017 and 2018, vested CIP 2017 and 2018 vested sign-on share awards and difference in the currency movements for the vested sign-on cash settled award. These values include awards vested early for CE Carter, DC Noko and CB Sheppard in accordance with their retirement dates as per as per scheme rules. (5) Convenience conversion to USD at the year-to-date average exchange rate of $1:R 14.445 (2018: $1:R 13.247 ; 2017: $1:R 13.301 ). |
Disclosure of Key Management and Other Personnel Share-based Payment Arrangements BSP | BSP awards Balance at 1 January 2019 Granted Vested, deemed settled Forfeited/ Lapsed Balance at 31 December 2019 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 — — — — — — — — KC Ramon 77,073 — 49,256 — 27,817 — 10,034 8,804 Total executive directors 77,073 — 49,256 — 27,817 — 10,034 8,804 Prescribed officers SD Bailey 22,549 — 14,243 — 8,306 — 2,903 2,629 CE Carter (4) 67,173 — 58,055 9,118 — — 11,664 — PD Chenard — — — — — — — — GJ Ehm 62,783 — 39,786 — 22,997 — 8,109 7,279 L Eybers 53,626 — 31,338 — 22,288 — 6,419 7,054 DC Noko (4) 52,531 — 44,415 8,116 — — 9,070 — S Ntuli 28,221 — 17,584 — 10,637 — 3,587 3,367 ME Sanz Perez 52,842 — 33,770 — 19,072 — 6,879 6,036 CB Sheppard (4) 55,534 — 47,374 8,160 — — 9,584 — TR Sibisi 47,221 — 29,516 — 17,705 — 6,021 5,604 Total prescribed officers 442,480 — 316,081 25,394 101,005 — 64,236 31,969 Other Management 2,482,900 — 1,595,362 70,586 816,952 — 321,706 258,565 Total BSP awards 3,002,453 — 1,960,699 95,980 945,774 — 395,976 299,338 Notes (1) The fair value of granted awards represents the value of awards, calculated using a five -business day volume weighted average share price prior to grant date. Closed scheme, no awards granted in 2019. (2) The fair value of vested awards represents the value deemed received on settlement date. (3) The fair value of unvested awards is calculated using the closing share price as at 31 December. (4) Includes awards vested early and lapsed for CE Carter, DC Noko and CB Sheppard in accordance with their retirement dates as per scheme rules. |
Disclosure of Key Management and Other Personnel Share-based Payment Arrangements LTIP | LTIP awards Balance at 1 January 2019 Granted Vested, deemed settled Forfeited/ Lapsed Balance at 31 December 2019 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 — — — — — — — — KC Ramon 230,595 — 56,760 63,240 110,595 — 11,315 35,003 Total executive directors 230,595 — 56,760 63,240 110,595 — 11,315 35,003 Prescribed officers SD Bailey 39,793 — 9,460 10,540 19,793 — 1,886 6,264 CE Carter (4) 230,595 — 93,205 137,390 — — 18,349 — PD Chenard — — — — — — — GJ Ehm 230,595 — 56,760 63,240 110,595 — 11,315 35,003 L Eybers 117,535 — 9,460 10,540 97,535 — 1,886 30,870 DC Noko (4) 208,850 — 85,036 123,814 — — 17,178 — S Ntuli 40,173 — 7,095 7,905 25,173 — 1,414 7,967 ME Sanz Perez 208,463 — 56,760 63,240 88,463 — 11,315 27,999 CB Sheppard (4) 213,928 — 87,220 126,708 — — 17,344 — TR Sibisi 195,971 — 56,760 63,240 75,971 — 11,315 24,045 Total prescribed officers 1,485,903 — 461,756 606,617 417,530 — 92,002 132,148 Other Management 2,099,263 — 510,922 635,904 952,437 — 101,852 301,446 Total LTIP awards 3,815,761 — 1,029,438 1,305,761 1,480,562 — 205,169 468,597 Notes (1) The fair value of granted awards represents the value of awards, calculated using a five -business day volume weighted average share price prior to grant date. Closed scheme, no awards granted in 2019. (2) The fair value of vested awards represents the value deemed received on settlement date. (3) The fair value of unvested awards is calculated using the closing share price as at 31 December. (4) Includes awards vested early and lapsed for CE Carter, DC Noko and CB Sheppard in accordance with their retirement dates as per scheme rules. |
Disclosure of Key Management and Other Personnel Share-based Payment Arrangements CIP | CIP matched awards Balance at 1 January 2019 Granted Matched Forfeited/ Lapsed Balance at 31 December 2019 Fair value of granted awards (1) Fair value of matched awards (2) Fair value of unvested matched at 31 December 2019 (3) ZAR '000 ZAR '000 ZAR '000 Executive directors KPM Dushnisky — — — — — — — — KC Ramon 23,270 — 14,795 — 8,475 — 3,004 2,682 Total executive directors 23,270 — 14,795 — 8,475 — 3,004 2,682 Prescribed officers SD Bailey — — — — — — — — CE Carter 949 — 949 — — — 175 — PD Chenard — — — — — — — GJ Ehm (4) 16,500 — — 16,500 — — — — L Eybers 16,788 — 10,198 — 6,590 — 1,983 2,086 DC Noko (5) 15,370 — 15,370 — — — 2,974 — S Ntuli — — — — — — — — ME Sanz Perez 16,039 — 10,297 — 5,742 — 2,104 1,817 CB Sheppard (5) 14,358 — 14,358 — — — 2,855 — TR Sibisi 9,304 — 6,184 — 3,120 — 1,249 987 Total prescribed officers 89,308 — 57,356 16,500 15,452 — 11,340 4,890 Other Management — — — — — — — — Total CIP awards 112,578 — 72,151 16,500 23,927 — 14,344 7,572 Notes (1) The fair value of granted awards represents the value of awards, calculated using the original investment share price on purchase date. Closed scheme, no awards granted in 2019. (2) The fair value of matched awards represents the value received on settlement dates. (3) The fair value of unvested awards is calculated using the closing share price as at 31 December. (4) These awards lapsed for GJ Ehm in line with the scheme rules. (5) Includes awards vested early for DC Noko and CB Sheppard in accordance with their retirement dates as per scheme rules. |
Disclosure of Key Management Sign On Bonus | Sign-on share awards Balance at 1 January 2019 Granted Vested deemed settled Forfeited/ Lapsed Balance at 31 December 2019 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 351,755 — 175,877 — 175,878 — 38,545 55,665 Total executive directors 351,755 — 175,877 — 175,878 — 38,545 55,665 Prescribed officers PD Chenard — 64,951 — — 64,951 13,026 — 20,557 Total prescribed officers — 64,951 — — 64,951 13,026 — 20,557 Total Sign-on share awards 351,755 64,951 175,877 — 240,829 13,026 38,545 76,222 Notes (1) The fair value of granted awards represents the value of awards, calculated using a five -business day volume weighted average share price prior to grant date. The share awards were granted on start date and will vest over a 2 -year period in equal tranches in accordance with the JSE Listing requirements. (2) The fair value of KPM Dushnisky's vested awards represents the value received on settlement dates, 20 and 21 February 2019. (3) The fair value of unvested awards is calculated using the closing share price as at 31 December. |
Disclosure of Key Management and Other Personnel Share-based Payment Arrangements DSP | DSP awards Subsequent to year end and up to the date of this report, the following DSP awards were granted to executive directors and prescribed officers: Balance at 1 January 2019 Granted Vested, deemed settled Forfeited/ Lapsed Balance at 31 December 2019 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 — — 67,742 13,848 — 21,440 KC Ramon — 89,782 — — 89,782 18,353 — 28,416 Total executive directors — 157,524 — — 157,524 32,201 — 49,856 Prescribed officers SD Bailey — 19,196 — — 19,196 3,924 — 6,076 CE Carter — 98,451 — — 98,451 20,125 — 31,160 PD Chenard — — — — — — — — GJ Ehm — 82,037 — — 82,037 16,770 — 25,965 L Eybers — 77,380 — — 77,380 15,818 — 24,491 DC Noko — 67,548 — — 67,548 13,808 — 21,379 S Ntuli — 24,006 — — 24,006 4,907 — 7,598 ME Sanz Perez — 67,712 — — 67,712 13,842 — 21,431 CB Sheppard — 71,409 — — 71,409 14,597 — 22,601 TR Sibisi — 63,424 — — 63,424 12,965 — 20,074 Total prescribed officers — 571,163 — — 571,163 116,756 — 180,775 Other Management — 940,504 14,623 55,208 870,673 192,258 4,269 275,568 Total DSP awards — 1,669,191 14,623 55,208 1,599,360 341,215 4,269 506,199 Notes (1) The fair value of granted awards represents the value of awards, calculated using a five -business day volume weighted average share price prior to grant date, 21 February 2019. (2) The fair value of vested awards represents the value deemed received on settlement date. (3) The fair value of unvested awards is calculated using the closing share price as at 31 December. |
Disclosure of Interests Held by Key Management and Other Personnel | The interests of directors, prescribed officers and their associates in the ordinary shares of the company at 31 December, which individually did not exceed 1% of the company’s issued ordinary share capital, were: 31 December 2019 Beneficial holding 31 December 2018 Beneficial holding 31 December 2017 Beneficial holding Direct Indirect Direct Indirect Direct Indirect Non-Executive directors SM Pityana 2,990 — 2,990 — 2,990 — MDC Richter (1) 9,300 — 9,300 — 7,300 — AH Garner (1) 17,500 — 17,500 — 7,500 — RJ Ruston (2) — 1,000 — 1,000 — 1,000 Total 29,790 1,000 29,790 1,000 17,790 1,000 Executive directors KPM Dushnisky (1) 131,730 — 50,000 — — — KC Ramon 59,124 — 51,062 — 28,265 — Total 190,854 — 101,062 — 28,265 — Company Secretary ME Sanz Perez 31,815 16,368 26,204 16,368 13,994 16,368 Total 31,815 16,368 26,204 16,368 13,994 16,368 Prescribed officers SD Bailey (1) 1,190 — — — — — GJ Ehm (2) 35,058 16,213 35,058 16,213 30,319 16,213 L Eybers 18,164 — 17,207 — 4,812 — TR Sibisi 13,283 — 9,914 — 4,085 — Total 67,695 16,213 62,179 16,213 39,216 16,213 Grand total 320,154 33,581 219,235 33,581 99,265 33,581 (1) Held on the New York stock exchange as American Depositary Shares (ADSs) ( 1 ADS is equivalent to 1 ordinary share) (2) Held on the Australian stock exchange as CHESS Depositary Receipts ( 5 CDIs are equivalent to 1 ordinary share) A register detailing Directors and Prescribed Officers’ interests in contracts is available for inspection at the company’s registered and corporate office. 33 RELATED PARTIES (continued) Directors’ and Prescribed Officers’ interests in AngloGold Ashanti shares (continued) Changes in Directors' and Prescribed Officers' interests in AngloGold Ashanti shares, excluding options and awards granted in terms of the group’s BSP and LTIP schemes, after 31 December 2019 include: Date of transaction Type of transaction Number of shares Direct/Indirect beneficial holding Executive Directors KPM Dushnisky 26 February 2020 On-market purchase in respect of the sign-on award 87,939 Direct 26 February 2020 On-market sale of ordinary shares to settle tax costs 47,488 Direct KC Ramon 27 February 2020 On-market purchase of ordinary shares pursuant to the AngloGold Ashanti Co-Investment Plan 8,475 Direct 28 February 2020 On-market sale of ordinary shares to settle tax costs 3,857 Direct 2 March 2020 On-market purchase of ordinary shares pursuant to the AngloGold Ashanti Long-Term Incentive Plan 52,234 Direct On-market sale of ordinary shares to settle tax costs 24,027 Direct Company Secretary ME Sanz Perez 27 February 2020 On-market purchase of ordinary shares pursuant to the AngloGold Ashanti Co-Investment Plan 5,742 Direct 28 February 2020 On-market sale of ordinary shares to settle tax costs 2,613 Direct 2 March 2020 On-market purchase of ordinary shares pursuant to the AngloGold Ashanti Long-Term Incentive Plan 41,781 Direct On-market sale of ordinary shares to settle tax costs 19,219 Direct Prescribed officers SD Bailey 2 March 2020 On-market purchase of ordinary shares pursuant to the AngloGold Ashanti Long-Term Incentive Plan 9,348 Direct On-market sale of ordinary shares to settle tax costs 4,300 Direct GJ Ehm 2 March 2020 On-market purchase of ordinary shares pursuant to the AngloGold Ashanti Long-Term Incentive Plan 52,234 Direct On-market sale of ordinary shares to settle tax costs 24,027 Direct L Eybers 2 March 2020 On-market purchase of ordinary shares pursuant to the AngloGold Ashanti Long-Term Incentive Plan 46,065 Direct 3 March 2020 On-market sale of ordinary shares to settle tax costs 21,190 Direct 9 March 2020 On-market purchase of ordinary shares pursuant to the AngloGold Ashanti Co-Investment Plan 6,590 Direct On-market sale of ordinary shares to settle tax costs 2,999 Direct S Ntuli 2 March 2020 On-market purchase of ordinary shares pursuant to the AngloGold Ashanti Long-Term Incentive Plan 11,889 Direct On-market sale of ordinary shares to settle tax costs 5,468 Direct TR Sibisi 2 March 2020 On-market purchase of ordinary shares pursuant to the AngloGold Ashanti Long-Term Incentive Plan 35,881 Direct On-market sale of ordinary shares to settle tax costs 16,505 Direct On-market purchase of ordinary shares pursuant to the AngloGold Ashanti Co-Investment Plan 3,120 Direct On-market sale of ordinary shares to settle tax costs 1,420 Direct |
Contractual Commitments and C_2
Contractual Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of other provisions, contingent liabilities and contingent assets [Abstract] | |
Disclosure of Operating and Finance Leases | US Dollars Figures in millions 2019 2018 2017 Capital commitments Acquisition of tangible assets Contracted for 161 99 87 Not contracted for 426 792 113 Authorised by the directors (1) 587 891 200 Allocated to: Project capital - within one year 288 446 104 - thereafter 162 308 — 450 754 104 Stay-in-business capital - within one year 117 125 84 - thereafter 20 12 12 137 137 96 Share of underlying capital commitments of joint ventures included above 2 91 21 Purchase obligations (2) Contracted for - within one year 506 305 274 - thereafter 579 658 424 1,085 963 698 (1) Includes $59m ( 2018 : $90m ; 2017 : $54m ) relating to discontinued operations. (2) Includes $8m ( 2018 : $25m ; 2017 : $54m ) relating to discontinued operations. |
Disclosure of Contingent Liabilities and Assets | Contingencies US Dollars Figures in millions 2019 2018 2017 Contingent liabilities Litigation - Ghana (1)(2) 97 97 97 Litigation - North America (3) — — — Groundwater pollution (4) — — — Deep groundwater pollution - Africa (5) — — — 97 97 97 Litigation claims (1) Litigation - On 11 October 2011, AngloGold Ashanti (Ghana) Limited (AGAG) terminated Mining and Building Contractors Limited’s (MBC) underground development agreement, construction on bulkheads agreement and diamond drilling agreement at Obuasi mine. The parties reached agreement on the terms of the separation and concluded a separation agreement on 8 November 2012. On 20 February 2014, AGAG was served with a demand issued by MBC claiming a total of $97m . In December 2015, the proceedings were stayed in the High Court pending arbitration. In February 2016, MBC submitted the matter to arbitration. The arbitration panel has been constituted and on 26 July 2019 held an arbitration management meeting to address initial procedural matters. (2) Litigation - AGAG received a summons on 2 April 2013 from Abdul Waliyu and 152 others in which the plaintiffs allege that they were or are residents of the Obuasi municipality or its suburbs and that their health has been adversely affected by emission and/or other environmental impacts arising in connection with the current and/or historical operations of the Pompora Treatment Plant (PTP), which was decommissioned in 2000. The plaintiffs’ alleged injuries include respiratory infections, skin diseases and certain cancers. The plaintiffs subsequently did not timely file their application for directions. On 24 February 2014, executive members of the PTP (AGAG) Smoke Effect Association (PASEA), sued AGAG by themselves and on behalf of their members (undisclosed number) on grounds similar to those discussed above, as well as economic hardships as a result of constant failure of their crops. This matter has been adjourned indefinitely. In view of the limitation of current information for the accurate estimation of a liability, no reliable estimate can be made for AGAG’s obligation in either matter. (3) Litigation - On 19 October 2017, Newmont Mining Co. filed a lawsuit in the United States District Court for the Southern District of New York against AngloGold Ashanti and certain related parties, alleging that AngloGold Ashanti and such parties did not provide Newmont with certain information material to its purchase of the Cripple Creek & Victor Gold Mining Company in 2015 during the negotiation- and-sale process. During November 2019, the AngloGold Ashanti defendants filed two motions for summary judgement with the Court, requesting the dismissal of all causes of actions against all defendants. On 18 March 2020, the Court granted the motions, dismissed all causes of actions and ordered the case to be closed. Newmont Mining Co. has 30 days from the date of the order to file an appeal to the Court's decision. Tax claims For a discussion on tax claims and tax uncertainties refer to note 12. Other (4) Groundwater pollution - AngloGold Ashanti has identified groundwater contamination plumes at certain of its operations, which have occurred primarily as a result of seepage from mine residue stockpiles. Numerous scientific, technical and legal studies have been undertaken to assist in determining the magnitude of the contamination and to find sustainable remediation solutions. The group has instituted processes to reduce future potential seepage and it has been demonstrated that Monitored Natural Attenuation (MNA) by the existing environment will contribute to improvements in some instances. Furthermore, literature reviews, field trials and base line modelling techniques suggest, but have not yet proven, that the use of phyto-technologies can address the soil and groundwater contamination. Subject to the completion of trials and the technology being a proven remediation technique, no reliable estimate can be made for the obligation. (5) Deep groundwater pollution - The group has identified potential water ingress and future pollution risk posed by deep groundwater in certain underground mines in Africa. Various studies have been undertaken by AngloGold Ashanti since 1999 to understand this potential risk. In South Africa, due to the interconnected nature of mining operations, any proposed solution needs to be a combined one supported by all the mines located in these gold fields. As a result, the Mineral and Petroleum Resources Development Act (MPRDA) requires that the affected mining companies develop a Regional Mine Closure Strategy to be approved by the Department of Mineral Resources. In view of the limitation of current information for the accurate estimation of a liability, no reliable estimate can be made for the obligation. |
Financial Risk Management Act_2
Financial Risk Management Activities (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of detailed information about financial instruments [abstract] | |
Disclosure of Maturity Analysis for Non-derivative Financial Liabilities | The following are the contractual maturities of financial liabilities, including interest payments: Financial liabilities Within one year Between one and two years Between two and five years After five years Total 2019 $ millions Effective rate % $ millions Effective rate % $ millions Effective rate % $ millions Effective rate % $ millions Trade and other payables 586 15 — — 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 — 2.3 — 2.3 22 2.3 — — 22 - TZS in USD equivalent 6 12.5 47 12.5 — — — — 53 - ZAR in USD equivalent 6 8.1 6 8.1 77 8.1 — — 89 2018 Trade and other payables 562 — — — 562 Gold and oil derivative contracts 9 — — — 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 — — 37 - ZAR in USD equivalent 9 9.0 36 9.0 43 9.7 15 14.7 103 2017 Trade and other payables 615 — — — 615 Borrowings 137 343 1,912 695 3,087 - In USD 98 5.4 145 5.4 1,643 5.5 641 6.5 2,527 - AUD in USD equivalent 16 5.1 174 5.1 25 6.8 38 6.8 253 - ZAR in USD equivalent 23 8.9 24 8.9 244 9.1 16 15.5 307 With the implementation of IFRS 16 effective 1 January 2019 the finance lease liabilities historically included in borrowings have been reallocated to lease liabilities. The table below provides a breakdown of the contractual maturities including interest payments of the lease liabilities. Within one year Between one and two years Between two and five years After five years Total 2019 $ millions Effective rate % $ millions Effective rate % $ millions Effective rate % $ millions Effective rate % $ millions 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 — — 9 - ZAR in USD equivalent 4 9.8 4 9.8 1 9.8 — — 9 |
Disclosure of Credit Risk Exposure | The combined maximum credit risk exposure of the group is as follows: US Dollars Figures in millions 2019 2018 2017 Other investments (1) 67 59 58 Trade and other receivables 57 41 33 Cash restricted for use (note 23) 64 66 65 Cash and cash equivalents (note 24) 456 329 205 Total financial assets 644 495 361 (1) Included in other investments are amounts transferred to held for sale. |
Disclosure of Fair Value of Financial Instruments | The estimated fair value of the group’s other investments and borrowings as at 31 December are as follows: Type of instrument Carrying amount Fair value Carrying amount Fair value Carrying amount Fair value US Dollar millions 2019 2018 2017 Financial assets Other investments (1) 170 170 147 147 138 140 Financial liabilities Borrowings (note 26) 2,033 2,135 2,050 2,084 2,268 2,377 (1) Included in other investments are amounts transferred to held for sale. |
Disclosure of Fair Value of Assets Measured on a Recurring Basis | Assets measured at fair value on a recurring basis US Dollar millions Level 1 Level 2 Level 3 Total 2019 Equity securities - FVTPL (1) 21 — — 21 Equity securities - FVTOCI 82 — — 82 2018 Equity securities - FVTPL 19 — — 19 Equity securities - FVTOCI 69 — — 69 2017 Equity securities - available-for-sale 80 — — 80 (1) Included in equity securities - FVTPL are amounts transferred to held for sale. |
Disclosure of Sensitivity Analysis on Other Financial Assets and Liabilities | The following table shows the approximate interest rate sensitivities of other financial assets and liabilities at 31 December (actual changes in the timing and amount of the following variables may differ from the assumed changes below). As the sensitivity is the same (linear) for both increases and decreases in interest rates only absolute numbers are presented. 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 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 AUD denominated 150 1 1 BRL denominated 250 2 1 Financial liabilities TZS denominated 250 1,680 1 ZAR denominated (2) 150 14 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 2017 Financial assets USD denominated 100 1 1 ZAR denominated (1)(2) 150 2 — Financial liabilities ZAR denominated (2) 150 41 3 AUD denominated 100 3 2 (1) A change of 100 basis points in financial assets results in less than a $1m change in the interest amount. (2) This is the only interest rate risk for the company. 35 FINANCIAL RISK MANAGEMENT ACTIVITIES (continued) Foreign exchange risk Foreign exchange risk arises on financial instruments that are denominated in a foreign currency. The following table discloses the approximate foreign exchange risk sensitivities of borrowings at 31 December (actual changes in the timing and amount of the following variables may differ from the assumed changes below). Change in Change in Change in Change in Change in Change in US$ Million US$ Million US$ Million 2019 2018 2017 Borrowings ZAR denominated (R/$) Spot (+R1.50) (7 ) Spot (+R1.50) (7 ) Spot (+R1.50) (26 ) TZS denominated (TZS/$) Spot (+TZS250) (5 ) Spot (+TZS250) (3 ) AUD denominated (AUD/$) Spot (+AUD0.1) (1 ) Spot (+AUD0.1) (3 ) Spot (+AUD0.1) (16 ) ZAR denominated (R/$) Spot (-R1.50) 9 Spot (-R1.50) 9 Spot (-R1.50) 33 TZS denominated (TZS/$) Spot (-TZS250) 6 Spot (-TZS250) 4 AUD denominated (AUD/$) Spot (-AUD0.1) 1 Spot (-AUD0.1) 4 Spot (-AUD0.1) 19 |
Capital Management (Tables)
Capital Management (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure Of Additional Information [Abstract] | |
Disclosure of Reconciliation Of Net Debt | Gearing ratio (Adjusted Net debt to Adjusted EBITDA) US Dollars Figures in millions 2019 2018 2017 Adjusted net debt from continuing operations Borrowings - non-current portion (note 26) 1,299 1,911 2,230 Lease liabilities - non-current portion (note 16) 126 Borrowings - current portion (note 26) 734 139 38 Lease liabilities - current portion (note 16) 45 — — Total borrowings 2,204 2,050 2,268 Less cash and cash equivalents (note 24) (456 ) (329 ) (205 ) Net debt 1,748 1,721 2,063 Adjustments: IFRS16 lease adjustments (119 ) Corporate office lease (9 ) (15 ) Unamortised portion of borrowing costs 16 13 18 Cash restricted for use (note 23) (64 ) (66 ) (65 ) Adjusted net debt 1,581 1,659 2,001 The Adjusted EBITDA calculation included in this note is based on the formula included in the Revolving Credit Facility Agreements for compliance with the debt covenant formula. Adjusted EBITDA from continuing operations Profit (loss) before taxation 619 445 328 Add back: Finance costs and unwinding of obligations (note 7) 172 168 157 Interest income (14 ) (8 ) (8 ) Amortisation of tangible, intangible and right of use assets (note 4) 583 558 690 Other amortisation 6 11 3 Associates and joint ventures’ adjustments for amortisation, interest, taxation and other 149 158 117 EBITDA 1,515 1,332 1,287 Adjustments: Foreign exchange losses 12 9 11 Dividend income — (2 ) — Retrenchment and related costs 7 4 9 Care and maintenance costs (note 6) 47 39 62 Impairment, derecognition of assets and (profit) loss on disposal 6 7 2 (Gain) loss on non-hedge derivatives and other commodity contracts (5 ) 2 — Associates and joint ventures’ special items (2 ) (3 ) (2 ) Adjusted EBITDA (as defined in the Revolving Credit Agreements) 1,580 1,388 1,369 Gearing ratio (Adjusted Net debt to Adjusted EBITDA) 1.00:1 1.20:1 1.46:1 Maximum debt covenant ratio allowed per agreement 3.5:1 3.5:1 3.5:1 |
Disclosure of Reconciliation Of Profit (Loss) Before Taxation To Adjusted EBITDA | Gearing ratio (Adjusted Net debt to Adjusted EBITDA) US Dollars Figures in millions 2019 2018 2017 Adjusted net debt from continuing operations Borrowings - non-current portion (note 26) 1,299 1,911 2,230 Lease liabilities - non-current portion (note 16) 126 Borrowings - current portion (note 26) 734 139 38 Lease liabilities - current portion (note 16) 45 — — Total borrowings 2,204 2,050 2,268 Less cash and cash equivalents (note 24) (456 ) (329 ) (205 ) Net debt 1,748 1,721 2,063 Adjustments: IFRS16 lease adjustments (119 ) Corporate office lease (9 ) (15 ) Unamortised portion of borrowing costs 16 13 18 Cash restricted for use (note 23) (64 ) (66 ) (65 ) Adjusted net debt 1,581 1,659 2,001 The Adjusted EBITDA calculation included in this note is based on the formula included in the Revolving Credit Facility Agreements for compliance with the debt covenant formula. Adjusted EBITDA from continuing operations Profit (loss) before taxation 619 445 328 Add back: Finance costs and unwinding of obligations (note 7) 172 168 157 Interest income (14 ) (8 ) (8 ) Amortisation of tangible, intangible and right of use assets (note 4) 583 558 690 Other amortisation 6 11 3 Associates and joint ventures’ adjustments for amortisation, interest, taxation and other 149 158 117 EBITDA 1,515 1,332 1,287 Adjustments: Foreign exchange losses 12 9 11 Dividend income — (2 ) — Retrenchment and related costs 7 4 9 Care and maintenance costs (note 6) 47 39 62 Impairment, derecognition of assets and (profit) loss on disposal 6 7 2 (Gain) loss on non-hedge derivatives and other commodity contracts (5 ) 2 — Associates and joint ventures’ special items (2 ) (3 ) (2 ) Adjusted EBITDA (as defined in the Revolving Credit Agreements) 1,580 1,388 1,369 Gearing ratio (Adjusted Net debt to Adjusted EBITDA) 1.00:1 1.20:1 1.46:1 Maximum debt covenant ratio allowed per agreement 3.5:1 3.5:1 3.5:1 |
Supplemental Condensed Consol_2
Supplemental Condensed Consolidating Financial Information (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure Of Additional Information [Abstract] | |
Condensed Consolidating Income Statement | 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 — — 3,525 — 3,525 Cost of sales (1 ) — (2,625 ) — (2,626 ) Gain (loss) on non-hedge derivatives and other commodity contracts — — 5 — 5 Gross profit (loss) (1 ) — 905 — 904 Corporate administration, marketing and other income (expenses) (41 ) (6 ) (17 ) (18 ) (82 ) Exploration and evaluation costs — — (112 ) — (112 ) Impairment, derecognition of assets and profit (loss) on disposal — (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 — 14 Foreign exchange losses — (4 ) (8 ) — (12 ) Finance costs and unwinding of obligations (16 ) (106 ) (56 ) 6 (172 ) Share of associates and joint ventures’ profit (loss) — — 154 14 168 Equity gain (loss) in subsidiaries 302 815 — (1,117 ) — Profit (loss) before taxation 237 705 1,000 (1,323 ) 619 Taxation 32 — (282 ) — (250 ) Profit (loss) after taxation from continuing operations 269 705 718 (1,323 ) 369 Discontinued operations Profit (loss) from discontinued operations (281 ) — (95 ) — (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 ) — (95 ) — (376 ) Non-controlling interests - Continuing operations — — 5 — 5 (12 ) 705 623 (1,323 ) (7 ) Comprehensive income (loss) 2 717 618 (1,330 ) 7 Comprehensive (income) loss attributable to non-controlling interests — — (5 ) — (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 (restated) AngloGold Ashanti (the “Guarantor”) IOMco (the “Issuer”) Other subsidiaries (the “Non-Guarantor Subsidiaries”) Consolidation adjustments Total Revenue from product sales — — 3,336 — 3,336 Cost of sales (2 ) — (2,582 ) — (2,584 ) Gain (loss) on non-hedge derivatives and other commodity contracts — — (2 ) — (2 ) Gross profit (loss) (2 ) — 752 — 750 Corporate administration, marketing and other income (expenses) (12 ) (20 ) (13 ) (31 ) (76 ) Exploration and evaluation costs — — (98 ) — (98 ) Impairment, derecognition of assets and profit (loss) on disposal — 1 (9 ) 1 (7 ) Other income (expenses) (10 ) 10 (70 ) (9 ) (79 ) Operating profit (loss) (24 ) (9 ) 562 (39 ) 490 Interest income — 4 4 — 8 Dividend received 2 — — — 2 Foreign exchange losses — (6 ) (3 ) — (9 ) Finance costs and unwinding of obligations (16 ) (107 ) (45 ) — (168 ) Share of associates and joint ventures’ profit (loss) 5 — 108 9 122 Equity gain (loss) in subsidiaries 142 490 — (632 ) — Profit (loss) before taxation 109 372 626 (662 ) 445 Taxation 23 — (235 ) — (212 ) Profit (loss) after taxation from continuing operations 132 372 391 (662 ) 233 Discontinued operations Profit (loss) from discontinued operations 1 — (84 ) — (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 — (84 ) — (83 ) Non-controlling interests - Continuing operations — — 17 — 17 133 372 307 (662 ) 150 Comprehensive income (loss) (8 ) 320 301 (604 ) 9 Comprehensive (income) loss attributable to non-controlling interests — — (17 ) — (17 ) Comprehensive income (loss) attributable to AngloGold Ashanti (8 ) 320 284 (604 ) (8 ) Figures in millions (US dollars) 2017 2017 2017 2017 2017 Condensed consolidating income statement (restated) AngloGold Ashanti (the “Guarantor”) IOMco (the “Issuer”) Other subsidiaries (the “Non-Guarantor Subsidiaries”) Consolidation adjustments Total Revenue from product sales — — 3,424 (30 ) 3,394 Cost of sales (2 ) — (2,606 ) 1 (2,607 ) Gain (loss) on non-hedge derivatives and other commodity contracts — — — — — Gross profit (loss) (2 ) — 818 (29 ) 787 Corporate administration, marketing and other income (expenses) (7 ) (7 ) (2 ) (48 ) (64 ) Exploration and evaluation costs (1 ) — (104 ) — (105 ) Impairment, derecognition of assets and profit (loss) on disposal — 2 (4 ) — (2 ) Other income (expenses) (71 ) (8 ) (79 ) 8 (150 ) Operating profit (loss) (81 ) (13 ) 629 (69 ) 466 Interest income 1 3 4 — 8 Foreign exchange losses — 1 (12 ) — (11 ) Finance costs and unwinding of obligations (14 ) (107 ) (36 ) — (157 ) Share of associates and joint ventures’ profit (loss) 13 — 9 — 22 Equity gain (loss) in subsidiaries 212 447 — (659 ) — Profit (loss) before taxation 131 331 594 (728 ) 328 Taxation 32 — (195 ) — (163 ) Profit (loss) after taxation from continuing operations 163 331 399 (728 ) 165 Discontinued operations Profit (loss) from discontinued operations (324 ) — (12 ) — (336 ) Profit (loss) after discontinued operations (161 ) 331 387 (728 ) (171 ) Preferred stock dividends (30 ) — — 30 — Profit (loss) for the period (191 ) 331 387 (698 ) (171 ) Allocated as follows: Equity shareholders - Continuing operations 133 331 379 (698 ) 145 - Discontinued operations (324 ) — (12 ) — (336 ) Non-controlling interests - Continuing operations — — 20 — 20 (191 ) 331 387 (698 ) (171 ) Comprehensive income (loss) (37 ) 365 422 (767 ) (17 ) Comprehensive (income) loss attributable to non-controlling interests — — (20 ) — (20 ) Comprehensive income (loss) attributable to AngloGold Ashanti (37 ) 365 402 (767 ) (37 ) |
Condensed Consolidating Statement of Financial Position | 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 and right of use assets 4 — 2,740 6 2,750 Intangible assets 1 — 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 — — 93 — 93 Trade and other receivables — 29 122 (29 ) 122 Deferred taxation 105 — — — 105 Cash restricted for use — — 31 — 31 2,758 4,643 4,642 (7,162 ) 4,881 Current assets Other investments — 10 — — 10 Inventories, trade and other receivables, intergroup balances and other current assets 333 619 1,247 (1,317 ) 882 Cash restricted for use — — 33 — 33 Cash and cash equivalents 12 102 342 — 456 345 731 1,622 (1,317 ) 1,381 Assets held for sale 253 — 348 — 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 — — 36 — 36 Total equity 2,640 3,381 2,541 (5,886 ) 2,676 Non-current liabilities 225 1,031 1,222 — 2,478 Current liabilities including intergroup balances 401 962 2,667 (2,593 ) 1,437 Liabilities held for sale 90 — 182 — 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 — 2,756 — 3,381 Intangible assets 1 — 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 — 105 — 106 Trade and other receivables — 29 102 (29 ) 102 Cash restricted for use — — 35 — 35 3,012 4,287 4,657 (6,540 ) 5,416 Current assets Other investments — 6 — — 6 Inventories, trade and other receivables, intergroup balances and other current assets 390 416 1,166 (1,111 ) 861 Cash restricted for use — — 31 — 31 Cash and cash equivalents 7 97 225 — 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 — — 42 — 42 Total equity 2,652 2,786 2,269 (5,013 ) 2,694 Non-current liabilities 319 1,734 1,103 — 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) 2017 2017 2017 2017 2017 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 739 — 3,003 — 3,742 Intangible assets 1 — 139 (2 ) 138 Investments in subsidiaries, associates and joint ventures 2,371 4,376 1,371 (6,611 ) 1,507 Other investments 2 6 125 (2 ) 131 Inventories — — 100 — 100 Trade and other receivables — 29 67 (29 ) 67 Deferred taxation — — 4 — 4 Cash restricted for use — — 37 — 37 3,113 4,411 4,846 (6,644 ) 5,726 Current assets Other investments — 6 1 — 7 Inventories, trade and other receivables, intergroup balances and other current assets 471 145 1,166 (877 ) 905 Cash restricted for use — 1 27 — 28 Cash and cash equivalents 11 21 173 — 205 482 173 1,367 (877 ) 1,145 Assets held for sale 310 — 38 — 348 792 173 1,405 (877 ) 1,493 Total assets 3,905 4,584 6,251 (7,521 ) 7,219 EQUITY AND LIABILITIES Share capital and premium 7,134 6,096 824 (6,920 ) 7,134 Retained earnings (accumulated losses) and other reserves (4,471 ) (3,491 ) 1,619 1,872 (4,471 ) Shareholders’ equity 2,663 2,605 2,443 (5,048 ) 2,663 Non-controlling interests — — 41 — 41 Total equity 2,663 2,605 2,484 (5,048 ) 2,704 Non-current liabilities 527 1,764 1,369 — 3,660 Current liabilities including intergroup balances 591 215 2,396 (2,473 ) 729 Liabilities held for sale 124 — 2 — 126 Total liabilities 1,242 1,979 3,767 (2,473 ) 4,515 Total equity and liabilities 3,905 4,584 6,251 (7,521 ) 7,219 |
Condensed Consolidating Statement of Cash Flow | 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 ) — Dividends received from joint ventures — 77 — — 77 Taxation refund — — 7 — 7 Taxation paid — — (228 ) — (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 — 31 — 89 Net cash inflow (outflow) from operating activities 34 (136 ) 1,152 (3 ) 1,047 Cash flows from investing activities Capital expenditure — — (703 ) — (703 ) Interest capitalised and paid — — — (6 ) (6 ) Proceeds from disposal of tangible assets — — 3 — 3 Other investments acquired — — (9 ) — (9 ) Proceeds from disposal of other investments — — 3 — 3 Investments in associates and joint ventures — — (5 ) — (5 ) Net loans repaid by (advanced to) associates and joint ventures 17 4 (1 ) — 20 Disposal (acquisition) of subsidiaries — (8 ) 8 — — Increase in investment in subsidiary (16 ) — — 16 — Interest received 3 5 6 — 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 ) — (8 ) — (54 ) Cash in subsidiaries sold and transferred to held for sale — — (6 ) — (6 ) Net cash inflow (outflow) from investing activities (42 ) 1 (712 ) 10 (743 ) Cash flows from financing activities Increase in share capital — — 16 (16 ) — Proceeds from borrowings 130 — 38 — 168 Repayment of borrowings (124 ) — (41 ) — (165 ) Finance costs paid (10 ) (102 ) (31 ) 6 (137 ) Bond settlement premium, RCF and bond transaction costs — — — — — Dividends paid (28 ) — (15 ) — (43 ) Intergroup dividends received (paid) 44 242 (286 ) — — 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 — — — — — 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 — (4 ) 3 — Cash and cash equivalents at beginning of year 7 97 225 — 329 Cash and cash equivalents at end of year 12 102 342 — 456 Figures in millions (US dollars) 2018 2018 2018 2018 2018 Condensed consolidating statement of cash flow (restated) 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 — Dividends received from joint ventures — 91 — — 91 Taxation refund — — 5 — 5 Taxation paid — — (171 ) — (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 ) — 28 — 1 Net cash inflow (outflow) from operating activities (47 ) (142 ) 1,026 20 857 Cash flows from investing activities Capital expenditure — — (575 ) — (575 ) Proceeds from disposal of tangible assets — — 4 6 10 Dividends from other investments 2 — — — 2 Other investments acquired — — (13 ) — (13 ) Proceeds from disposal of other investments — — 7 — 7 Investments in associates and joint ventures — — (8 ) — (8 ) Net loans repaid by (advanced to) associates and joint ventures 9 10 (2 ) — 17 Disposal (acquisition) of subsidiaries — (7 ) 7 — — Decrease (increase) in cash restricted for use — 1 (6 ) (1 ) (6 ) Interest received — 1 4 — 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 — 19 — 226 Net cash inflow (outflow) from investing activities 218 5 (563 ) 5 (335 ) Cash flows from financing activities Proceeds from borrowings 407 45 301 — 753 Repayment of borrowings (570 ) (80 ) (317 ) — (967 ) Finance costs paid (12 ) (102 ) (16 ) — (130 ) Bond settlement premium, RCF and bond transaction costs — (10 ) — — (10 ) Dividends paid (24 ) — (15 ) — (39 ) Intergroup dividends received (paid) 25 360 (386 ) 1 — 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 — — — — — 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 ) — 22 (26 ) (5 ) Cash and cash equivalents at beginning of year 11 21 173 — 205 Cash and cash equivalents at end of year 7 97 225 — 329 Figures in millions (US dollars) 2017 2017 2017 2017 2017 Condensed consolidating statement of cash flow (restated) 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 (61 ) (15 ) 1,140 3 1,067 Net movement in intergroup receivables and payables 10 (102 ) 123 (31 ) — Dividends received from joint ventures — 6 — — 6 Taxation refund 3 — 11 — 14 Taxation paid — — (174 ) — (174 ) Net cash inflow (outflow) from operating activities from continuing operations (48 ) (111 ) 1,100 (28 ) 913 Net cash inflow (outflow) from operating activities from discontinued operations 56 — 28 — 84 Net cash inflow (outflow) from operating activities 8 (111 ) 1,128 (28 ) 997 Cash flows from investing activities Capital expenditure (1 ) — (674 ) — (675 ) Proceeds from disposal of tangible assets — — 3 — 3 Other investments acquired — (5 ) (3 ) — (8 ) Proceeds from disposal of other investments — — — 3 3 Investments in associates and joint ventures — (15 ) (14 ) 2 (27 ) Net loans repaid by (advanced to) associates and joint ventures — (6 ) 2 (2 ) (6 ) Reduction in investment in subsidiary 42 — — (42 ) — Disposal (acquisition) of subsidiaries — (2 ) 2 — — Decrease (increase) in cash restricted for use — — (8 ) — (8 ) Interest received — 3 4 — 7 Net cash inflow (outflow) from investing activities from continuing operations 41 (25 ) (688 ) (39 ) (711 ) Net cash inflow (outflow) from investing activities from discontinued operations (139 ) — (12 ) — (151 ) Net cash inflow (outflow) from investing activities (98 ) (25 ) (700 ) (39 ) (862 ) Cash flows from financing activities Reduction in share capital — (43 ) — 43 — Proceeds from borrowings 539 155 121 — 815 Repayment of borrowings (428 ) (170 ) (169 ) — (767 ) Finance costs paid (15 ) (103 ) (20 ) — (138 ) Dividends paid (39 ) — (19 ) — (58 ) Intergroup dividends received (paid) — 286 (286 ) — — Net cash inflow (outflow) from financing activities from continuing operations 57 125 (373 ) 43 (148 ) Net cash inflow (outflow) from financing activities from discontinued operations — — — — — Net cash inflow (outflow) from financing activities 57 125 (373 ) 43 (148 ) Net increase (decrease) in cash and cash equivalents (33 ) (11 ) 55 (24 ) (13 ) Translation — — (21 ) 24 3 Cash and cash equivalents at beginning of year 44 32 139 — 215 Cash and cash equivalents at end of year 11 21 173 — 205 |
Accounting Policies - Reclassif
Accounting Policies - Reclassifications in the Income Statement (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Significant Accounting Policies [Line Items] | |||
Gross profit (loss) | $ 904 | $ 750 | $ 787 |
Corporate administration, marketing and other expenses | (82) | (76) | (64) |
Exploration and evaluation costs | (112) | (98) | (105) |
Impairment, derecognition of assets and profit (loss) on disposal | (6) | (7) | (2) |
Other expenses (income) | (83) | (79) | (150) |
Operating profit (loss) | $ 621 | 490 | 466 |
Previously reported | |||
Significant Accounting Policies [Line Items] | |||
Gross profit (loss) | 772 | 784 | |
Corporate administration, marketing and other expenses | (76) | (64) | |
Exploration and evaluation costs | (102) | (114) | |
Other expenses (income) | (97) | (88) | |
Special items | (170) | (438) | |
Operating profit (loss) | 327 | 80 | |
Reclassified | |||
Significant Accounting Policies [Line Items] | |||
Gross profit (loss) | 772 | 784 | |
Corporate administration, marketing and other expenses | (76) | (64) | |
Exploration and evaluation costs | (102) | (114) | |
Impairment, derecognition of assets and profit (loss) on disposal | (124) | (293) | |
Other expenses (income) | (143) | (233) | |
Operating profit (loss) | $ 327 | $ 80 |
Accounting Policies (Details)
Accounting Policies (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Significant Accounting Policies [Line Items] | |||
Materiality threshold for leased assets | $ 250,000 | ||
Tangible assets | 2,592,000,000 | $ 3,381,000,000 | $ 3,742,000,000 |
Impairment and derecognition of tangible assets | 505,000,000 | 104,000,000 | 288,000,000 |
Goodwill | 116,000,000 | 116,000,000 | 127,000,000 |
Impairment of goodwill | 0 | 0 | 9,000,000 |
Deferred tax assets | 105,000,000 | 0 | 4,000,000 |
Deferred tax liabilities | 241,000,000 | 315,000,000 | 363,000,000 |
Taxation liability | 72,000,000 | 60,000,000 | 53,000,000 |
Taxation asset | 10,000,000 | 6,000,000 | 3,000,000 |
Rehabilitation obligations | 730,000,000 | 637,000,000 | 724,000,000 |
Inventories (excluding finished goods and mine operating supplies) | 377,000,000 | 404,000,000 | 424,000,000 |
Receivables from recoverable tax, rebates, levies and duties | 227,000,000 | 194,000,000 | 174,000,000 |
Post-retirement obligations | 100,000,000 | 100,000,000 | 122,000,000 |
Contingent liability disclosure threshold amount | $ 18,000,000 | ||
Motor vehicles | |||
Significant Accounting Policies [Line Items] | |||
Useful life of tangible assets | 5 years | ||
Computer equipment | |||
Significant Accounting Policies [Line Items] | |||
Useful life of tangible assets | 3 years | ||
Provision for silicosis settlement total | |||
Significant Accounting Policies [Line Items] | |||
Silicosis provision | $ 65,000,000 | 63,000,000 | 63,000,000 |
Tax losses | |||
Significant Accounting Policies [Line Items] | |||
Deferred tax assets | $ 389,000,000 | $ 501,000,000 | $ 470,000,000 |
Segmental Information (Details)
Segmental Information (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of operating segments [line items] | |||
Gold income | $ 3,439,000,000 | $ 3,203,000,000 | $ 3,255,000,000 |
By-products revenue | 86,000,000 | 133,000,000 | 139,000,000 |
Gross profit (loss) | 904,000,000 | 750,000,000 | 787,000,000 |
Cost of sales | 2,626,000,000 | 2,584,000,000 | 2,607,000,000 |
Amortisation | 583,000,000 | 558,000,000 | 690,000,000 |
Total assets | 6,863,000,000 | 6,643,000,000 | 7,219,000,000 |
Capital expenditure | 763,000,000 | 652,000,000 | 830,000,000 |
Goodwill | 116,000,000 | 116,000,000 | 127,000,000 |
Assets held for sale | $ 601,000,000 | 0 | 348,000,000 |
Two Customers | Gold, Ounces | |||
Disclosure of operating segments [line items] | |||
Percentage of gold sold to two customers | 34.00% | ||
Discontinued operations | |||
Disclosure of operating segments [line items] | |||
Gold income | $ 554,000,000 | 602,000,000 | 1,101,000,000 |
By-products revenue | 1,000,000 | 6,000,000 | 15,000,000 |
Gross profit (loss) | 79,000,000 | 22,000,000 | (3,000,000) |
Cost of sales | 479,000,000 | 589,000,000 | 1,129,000,000 |
Amortisation | 61,000,000 | 72,000,000 | 133,000,000 |
Capital expenditure | 60,000,000 | 76,000,000 | 155,000,000 |
Aggregate continuing and discontinued operations | |||
Disclosure of operating segments [line items] | |||
Gold income | 3,993,000,000 | 3,805,000,000 | 4,356,000,000 |
By-products revenue | 87,000,000 | 139,000,000 | 154,000,000 |
Gross profit (loss) | 983,000,000 | 772,000,000 | 784,000,000 |
Cost of sales | 3,105,000,000 | 3,173,000,000 | 3,736,000,000 |
Amortisation | 644,000,000 | 630,000,000 | 823,000,000 |
South Africa | |||
Disclosure of operating segments [line items] | |||
Non-current assets considered material | 25,000,000 | 1,005,000,000 | 1,295,000,000 |
Australia | |||
Disclosure of operating segments [line items] | |||
Gold income | 851,000,000 | 780,000,000 | 709,000,000 |
Non-current assets considered material | 817,000,000 | 718,000,000 | 764,000,000 |
Argentina | |||
Disclosure of operating segments [line items] | |||
Gold income | 387,000,000 | 399,000,000 | |
Brazil | |||
Disclosure of operating segments [line items] | |||
Gold income | 679,000,000 | 634,000,000 | 705,000,000 |
Non-current assets considered material | 625,000,000 | 615,000,000 | 632,000,000 |
Guinea | |||
Disclosure of operating segments [line items] | |||
Gold income | 489,000,000 | ||
Tanzania | |||
Disclosure of operating segments [line items] | |||
Gold income | 849,000,000 | 715,000,000 | 664,000,000 |
Non-current assets considered material | 379,000,000 | 369,000,000 | 422,000,000 |
DRC | |||
Disclosure of operating segments [line items] | |||
Gold income | 504,000,000 | 468,000,000 | |
Non-current assets considered material | 1,506,000,000 | 1,439,000,000 | 1,423,000,000 |
Foreign entities | |||
Disclosure of operating segments [line items] | |||
Non-current assets considered material | 4,644,000,000 | 4,234,000,000 | 4,259,000,000 |
Ghana | |||
Disclosure of operating segments [line items] | |||
Non-current assets considered material | 758,000,000 | 550,000,000 | 533,000,000 |
Continental Africa | |||
Disclosure of operating segments [line items] | |||
Total assets | 3,514,000,000 | 3,135,000,000 | 3,153,000,000 |
Assets held for sale | 20,000,000 | 0 | 0 |
Impairments, derecognition of assets | 2,000,000 | 5,000,000 | 0 |
Australia | |||
Disclosure of operating segments [line items] | |||
Total assets | 972,000,000 | 888,000,000 | 929,000,000 |
Goodwill | 108,000,000 | 108,000,000 | 119,000,000 |
Americas | |||
Disclosure of operating segments [line items] | |||
Total assets | 1,427,000,000 | 1,286,000,000 | 1,258,000,000 |
Goodwill | 8,000,000 | 8,000,000 | 8,000,000 |
Impairments, derecognition of assets | 1,000,000 | 1,000,000 | 0 |
South Africa | |||
Disclosure of operating segments [line items] | |||
Total assets | 697,000,000 | 1,106,000,000 | 1,734,000,000 |
Assets held for sale | 581,000,000 | 0 | 348,000,000 |
Impairments, derecognition of assets | 556,000,000 | 98,000,000 | 294,000,000 |
Corporate and other | |||
Disclosure of operating segments [line items] | |||
Total assets | 253,000,000 | 228,000,000 | 145,000,000 |
Operating segments | |||
Disclosure of operating segments [line items] | |||
By-products revenue | 87,000,000 | 134,000,000 | 140,000,000 |
Gross profit (loss) | 1,092,000,000 | 852,000,000 | 800,000,000 |
Cost of sales | 3,054,000,000 | 3,064,000,000 | 3,048,000,000 |
Amortisation | 720,000,000 | 723,000,000 | 826,000,000 |
Capital expenditure | 754,000,000 | 645,000,000 | 798,000,000 |
Operating segments | Aggregate continuing and discontinued operations | |||
Disclosure of operating segments [line items] | |||
Capital expenditure | 814,000,000 | 721,000,000 | 953,000,000 |
Operating segments | Continental Africa | |||
Disclosure of operating segments [line items] | |||
By-products revenue | 3,000,000 | 4,000,000 | 3,000,000 |
Gross profit (loss) | 605,000,000 | 380,000,000 | 386,000,000 |
Amortisation | 367,000,000 | 379,000,000 | 421,000,000 |
Capital expenditure | 410,000,000 | 313,000,000 | 409,000,000 |
Operating segments | Australia | |||
Disclosure of operating segments [line items] | |||
By-products revenue | 3,000,000 | 2,000,000 | 2,000,000 |
Gross profit (loss) | 221,000,000 | 160,000,000 | 159,000,000 |
Amortisation | 173,000,000 | 149,000,000 | 130,000,000 |
Capital expenditure | 149,000,000 | 156,000,000 | 153,000,000 |
Operating segments | Americas | |||
Disclosure of operating segments [line items] | |||
By-products revenue | 81,000,000 | 128,000,000 | 135,000,000 |
Gross profit (loss) | 265,000,000 | 310,000,000 | 253,000,000 |
Amortisation | 177,000,000 | 192,000,000 | 273,000,000 |
Capital expenditure | 195,000,000 | 176,000,000 | 234,000,000 |
Operating segments | Corporate and other | |||
Disclosure of operating segments [line items] | |||
Gross profit (loss) | 1,000,000 | 2,000,000 | 2,000,000 |
Amortisation | 3,000,000 | 3,000,000 | 2,000,000 |
Capital expenditure | 0 | 0 | 2,000,000 |
Equity-accounted investments included above | |||
Disclosure of operating segments [line items] | |||
By-products revenue | (1,000,000) | (1,000,000) | (1,000,000) |
Gross profit (loss) | (188,000,000) | (102,000,000) | (13,000,000) |
Cost of sales | (428,000,000) | (480,000,000) | (441,000,000) |
Amortisation | (137,000,000) | (165,000,000) | (136,000,000) |
Consolidated and Separate | |||
Disclosure of operating segments [line items] | |||
Gold income | 4,054,000,000 | 3,784,000,000 | 3,708,000,000 |
Consolidated and Separate | South Africa | |||
Disclosure of operating segments [line items] | |||
Gold income | 981,000,000 | 946,000,000 | 946,000,000 |
Consolidated and Separate | North America | |||
Disclosure of operating segments [line items] | |||
Gold income | 486,000,000 | 450,000,000 | 456,000,000 |
Consolidated and Separate | Australia | |||
Disclosure of operating segments [line items] | |||
Gold income | 851,000,000 | 780,000,000 | 709,000,000 |
Consolidated and Separate | Europe | |||
Disclosure of operating segments [line items] | |||
Gold income | 329,000,000 | 387,000,000 | 399,000,000 |
Consolidated and Separate | United Kingdom | |||
Disclosure of operating segments [line items] | |||
Gold income | 1,407,000,000 | 1,221,000,000 | 1,198,000,000 |
Consolidated and Separate | Continental Africa | |||
Disclosure of operating segments [line items] | |||
Gold income | 2,203,000,000 | 1,983,000,000 | 1,895,000,000 |
Consolidated and Separate | Australia | |||
Disclosure of operating segments [line items] | |||
Gold income | 851,000,000 | 780,000,000 | 709,000,000 |
Consolidated and Separate | Americas | |||
Disclosure of operating segments [line items] | |||
Gold income | 1,000,000,000 | 1,021,000,000 | 1,104,000,000 |
Consolidated and Separate | Operating segments | Continental Africa | |||
Disclosure of operating segments [line items] | |||
Cost of sales | 1,601,000,000 | 1,607,000,000 | 1,513,000,000 |
Consolidated and Separate | Operating segments | Australia | |||
Disclosure of operating segments [line items] | |||
Cost of sales | 632,000,000 | 622,000,000 | 551,000,000 |
Consolidated and Separate | Operating segments | Americas | |||
Disclosure of operating segments [line items] | |||
Cost of sales | 822,000,000 | 838,000,000 | 987,000,000 |
Consolidated and Separate | Operating segments | Corporate and other | |||
Disclosure of operating segments [line items] | |||
Cost of sales | (1,000,000) | (3,000,000) | (3,000,000) |
Equity-accounted investments | |||
Disclosure of operating segments [line items] | |||
Gold income | (615,000,000) | (581,000,000) | (453,000,000) |
Capital expenditure | $ (51,000,000) | $ (69,000,000) | $ (123,000,000) |
Revenue from Product Sales (Det
Revenue from Product Sales (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of revenue [Abstract] | |||
Gold income | $ 3,439 | $ 3,203 | $ 3,255 |
By-products | 86 | 133 | 139 |
Revenue from product sales | $ 3,525 | $ 3,336 | $ 3,394 |
Cost of Sales (Details)
Cost of Sales (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Cost of Sales [Abstract] | |||
Cash operating costs | $ 1,831 | $ 1,850 | $ 1,756 |
Royalties | 137 | 133 | 111 |
Other cash costs | 13 | 13 | 14 |
Total cash costs | 1,981 | 1,996 | 1,881 |
Retrenchment costs | 4 | 4 | 6 |
Rehabilitation and other non-cash costs | 53 | 17 | 16 |
Amortisation of tangible assets (notes 32 and 36) | 538 | 553 | 685 |
Amortisation of right of use assets (notes 32 and 36) | 42 | ||
Amortisation of intangible assets (notes 32 and 36) | 3 | 5 | 5 |
Inventory change | 5 | 9 | 14 |
Cost of sales | $ 2,626 | $ 2,584 | $ 2,607 |
Corporate Administration, Mar_3
Corporate Administration, Marketing And Other Costs (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of other operating expenses [Abstract] | |||
Corporate administration expenses | $ 63 | $ 60 | $ 52 |
Share scheme and related costs | 19 | 16 | 12 |
Selling, general and administrative expense | $ 82 | $ 76 | $ 64 |
Other Expense (Income) (Details
Other Expense (Income) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of Other Expense (Income) [Abstract] | |||
Care and maintenance (note 36) | $ 47 | $ 39 | $ 62 |
Governmental fiscal claims, cost of old tailings operations and other expenses | 21 | 14 | 15 |
Guinea public infrastructure contribution | 8 | 0 | 0 |
Pension and medical defined benefit provisions | 9 | 10 | 9 |
Royalties received | (3) | (10) | (18) |
Brazilian power utility legal settlement | (16) | 0 | 0 |
Retrenchment and related costs | 3 | 6 | 6 |
Legal fees and project costs | 11 | 16 | 74 |
Other indirect taxes | 3 | 4 | 2 |
Other expense (income) | $ 83 | $ 79 | $ 150 |
Finance Costs and Unwinding o_3
Finance Costs and Unwinding of Obligations (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of finance costs and unwinding of obligations [Abstract] | |||
Finance costs on bonds, corporate notes, bank loans and other | $ 135 | $ 128 | $ 131 |
Amortisation of fees | 4 | 7 | 4 |
Lease finance charges | 10 | ||
Lease finance charges | 5 | 6 | |
Less: interest captalised | (6) | 0 | 0 |
Total finance costs | 143 | 140 | 141 |
Unwinding of obligations | 29 | 28 | 16 |
Total finance costs and unwinding of obligations (note 32 and 36) | $ 172 | $ 168 | $ 157 |
Share of Associates and Joint_3
Share of Associates and Joint Ventures' Profit (Loss) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of associates [line items] | |||
Profit (loss) before taxation | $ 619 | $ 445 | $ 328 |
Taxation | (250) | (212) | (163) |
Profit (loss) after taxation from continuing operations | 369 | 233 | 165 |
Share of associates and joint ventures’ profit (loss) (note 32) | 168 | 122 | 22 |
Associates | |||
Disclosure of associates [line items] | |||
Impairment reversal of investments in associates | 23 | 15 | 13 |
Joint ventures | |||
Disclosure of associates [line items] | |||
Impairment reversal of investments in joint ventures (note 19) | 6 | 14 | 2 |
Joint ventures | Associates | |||
Disclosure of associates [line items] | |||
Revenue | 616 | 582 | 454 |
Operating costs and other expenses | (452) | (472) | (471) |
Net interest received (paid) | 10 | (8) | 1 |
Profit (loss) before taxation | 174 | 102 | (16) |
Taxation | (35) | (9) | 23 |
Profit (loss) after taxation from continuing operations | $ 139 | $ 93 | $ 7 |
Discontinued Operations and A_3
Discontinued Operations and Assets and Liabilities Held for Sale - Narrative (Details) | Jun. 30, 2020USD ($)$ / ozoz | Apr. 30, 2020USD ($)oz | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) |
Non-current Assets and Liabilities Held For Sale And Discontinued Operations [Line Items] | |||||
Defined benefit plans | $ 100,000,000 | $ 100,000,000 | $ 122,000,000 | ||
Assets held for sale | 601,000,000 | 0 | 348,000,000 | ||
Continental Africa | |||||
Non-current Assets and Liabilities Held For Sale And Discontinued Operations [Line Items] | |||||
Assets held for sale | 20,000,000 | 0 | 0 | ||
Post-retirement medical scheme for AngloGold Ashanti's South African employees | |||||
Non-current Assets and Liabilities Held For Sale And Discontinued Operations [Line Items] | |||||
Defined benefit plans | 93,000,000 | 93,000,000 | 114,000,000 | ||
Provision for silicosis settlement total | |||||
Non-current Assets and Liabilities Held For Sale And Discontinued Operations [Line Items] | |||||
Silicosis provision | 65,000,000 | 63,000,000 | 63,000,000 | ||
Societe D’Exploitation Des Mines D’Or De Sadiola S.A. | Continental Africa | |||||
Non-current Assets and Liabilities Held For Sale And Discontinued Operations [Line Items] | |||||
Assets held for sale | $ 20,000,000 | ||||
AngloGold Ashanti | Societe D’Exploitation Des Mines D’Or De Sadiola S.A. | |||||
Non-current Assets and Liabilities Held For Sale And Discontinued Operations [Line Items] | |||||
Proportion of ownership interest in joint venture | 41.00% | ||||
Government of Mali | Societe D’Exploitation Des Mines D’Or De Sadiola S.A. | |||||
Non-current Assets and Liabilities Held For Sale And Discontinued Operations [Line Items] | |||||
Proportion of ownership interest in joint venture | 18.00% | ||||
IAMGOLD | Societe D’Exploitation Des Mines D’Or De Sadiola S.A. | |||||
Non-current Assets and Liabilities Held For Sale And Discontinued Operations [Line Items] | |||||
Proportion of ownership interest in joint venture | 41.00% | ||||
Discontinued operations | South African Assets | |||||
Non-current Assets and Liabilities Held For Sale And Discontinued Operations [Line Items] | |||||
Impairment loss recognised on remeasurement to fair value less costs to sell | $ 549,000,000 | 0 | 35,000,000 | ||
Deferred tax on impairment loss, derecognition and profit on disposal of assets | 164,000,000 | $ 47,000,000 | $ 69,000,000 | ||
Impairment loss recognised on remeasurement to fair value less costs to sell, net of tax | 385,000,000 | ||||
Forecast | Agreement to sell assets and related liabilities | Societe D’Exploitation Des Mines D’Or De Sadiola S.A. | |||||
Non-current Assets and Liabilities Held For Sale And Discontinued Operations [Line Items] | |||||
Consideration receivable, due if the cash balance of the principal asset is greater than the agreed amount at closing, period | 8 days | ||||
Consideration receivable, initial production threshold (in ounces) | oz | 250,000 | ||||
Consideration receivable, additional production threshold (in ounces) | oz | 250,000 | ||||
Forecast | Agreement to sell assets and related liabilities | AngloGold Ashanti and IAMGOLD | Societe D’Exploitation Des Mines D’Or De Sadiola S.A. | |||||
Non-current Assets and Liabilities Held For Sale And Discontinued Operations [Line Items] | |||||
Portion of consideration received consisting of cash | $ 105,000,000 | ||||
Portion of consideration received consisting of cash, due upon fulfilment of conditions precedent | 50,000,000 | ||||
Portion of consideration received consisting of cash, due if the cash balance of the principal asset is greater than the agreed amount at closing | 5,000,000 | ||||
Portion of consideration received consisting of cash, due upon achieving initial production threshold | 25,000,000 | ||||
Portion of consideration received consisting of cash, due upon achieving additional production threshold | 25,000,000 | ||||
Forecast | Agreement to sell assets and related liabilities | AngloGold Ashanti | Societe D’Exploitation Des Mines D’Or De Sadiola S.A. | |||||
Non-current Assets and Liabilities Held For Sale And Discontinued Operations [Line Items] | |||||
Portion of consideration received consisting of cash, due upon fulfilment of conditions precedent | 25,000,000 | ||||
Portion of consideration received consisting of cash, due if the cash balance of the principal asset is greater than the agreed amount at closing | 2,500,000 | ||||
Portion of consideration received consisting of cash, due upon achieving initial production threshold | 12,500,000 | ||||
Portion of consideration received consisting of cash, due upon achieving additional production threshold | 12,500,000 | ||||
Forecast | Agreement to sell assets and related liabilities | IAMGOLD | Societe D’Exploitation Des Mines D’Or De Sadiola S.A. | |||||
Non-current Assets and Liabilities Held For Sale And Discontinued Operations [Line Items] | |||||
Portion of consideration received consisting of cash, due upon fulfilment of conditions precedent | 25,000,000 | ||||
Portion of consideration received consisting of cash, due if the cash balance of the principal asset is greater than the agreed amount at closing | 2,500,000 | ||||
Portion of consideration received consisting of cash, due upon achieving initial production threshold | 12,500,000 | ||||
Portion of consideration received consisting of cash, due upon achieving additional production threshold | $ 12,500,000 | ||||
Forecast | Agreement to sell assets and related liabilities | Discontinued operations | South African Assets | |||||
Non-current Assets and Liabilities Held For Sale And Discontinued Operations [Line Items] | |||||
Expected proceeds from sale | $ 300,000,000 | ||||
Portion of consideration received consisting of cash | $ 200,000,000 | ||||
Portion of consideration received consisting of deferred consideration, above production threshold (in USD per ounce) | $ / oz | 260 | ||||
Deferred consideration production threshold (in ounces) | oz | 250,000 | ||||
Deferred consideration production threshold, period | 6 years | ||||
Portion of consideration received consisting of deferred consideration, below datum of current infrastructure (in USD per ounce) | $ / oz | 20 | ||||
Tangible assets | Discontinued operations | South African Assets | |||||
Non-current Assets and Liabilities Held For Sale And Discontinued Operations [Line Items] | |||||
Impairment loss recognised on remeasurement to fair value less costs to sell | 495,000,000 | ||||
Non-current inventories | Discontinued operations | South African Assets | |||||
Non-current Assets and Liabilities Held For Sale And Discontinued Operations [Line Items] | |||||
Impairment loss recognised on remeasurement to fair value less costs to sell | $ 54,000,000 |
Discontinued Operations and A_4
Discontinued Operations and Assets and Liabilities Held for Sale - Results of Discontinued Operations (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of analysis of single amount of discontinued operations [line items] | |||
Revenue from product sales | $ 3,525 | $ 3,336 | $ 3,394 |
Cost of sales | (2,626) | (2,584) | (2,607) |
Gain (loss) on non-hedge derivatives and other commodity contracts | 5 | (2) | 0 |
Gross profit (loss) | 904 | 750 | 787 |
Other expenses (income) | (83) | (79) | (150) |
Derecognition of assets, impairments and profit on disposal of assets | (6) | (7) | (2) |
Profit (loss) before taxation | 619 | 445 | 328 |
Normal taxation | (250) | (212) | (163) |
Profit (loss) from discontinued operations | (376) | (83) | (336) |
Discontinued operations | |||
Disclosure of analysis of single amount of discontinued operations [line items] | |||
Cost of sales | (479) | (589) | (1,129) |
Gross profit (loss) | 79 | 22 | (3) |
South African Assets | |||
Disclosure of analysis of single amount of discontinued operations [line items] | |||
Profit (loss) from discontinued operations | (376) | (83) | (336) |
South African Assets | Discontinued operations | |||
Disclosure of analysis of single amount of discontinued operations [line items] | |||
Revenue from product sales | 555 | 608 | 1,116 |
Cost of sales | (479) | (589) | (1,129) |
Gain (loss) on non-hedge derivatives and other commodity contracts | 3 | 3 | 10 |
Gross profit (loss) | 79 | 22 | (3) |
Other expenses (income) | (44) | (72) | (97) |
Derecognition of assets, impairments and profit on disposal of assets | (3) | (118) | (256) |
Impairment loss recognised on remeasurement to fair value less costs to sell | (549) | 0 | (35) |
Profit (loss) before taxation | (517) | (168) | (391) |
Normal taxation | (23) | 38 | (14) |
Deferred tax on impairment loss, derecognition and profit on disposal of assets | $ 164 | $ 47 | $ 69 |
Discontinued Operations and A_5
Discontinued Operations and Assets and Liabilities Held for Sale - Assets and Liabilities Held for Sale (Details) - USD ($) | Dec. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Assets And Liabilities Classified As Held For Sale [Line Items] | ||||
Tangible and right of use assets | $ 2,750,000,000 | |||
Other investments | 86,000,000 | $ 147,000,000 | $ 138,000,000 | |
Inventories | 725,000,000 | 758,000,000 | 783,000,000 | |
Trade, other receivables and other assets | 372,000,000 | 311,000,000 | 289,000,000 | |
Deferred taxation | 105,000,000 | 0 | 4,000,000 | |
Cash and cash restricted for use | 64,000,000 | 66,000,000 | 65,000,000 | |
Total assets | 6,863,000,000 | 6,643,000,000 | 7,219,000,000 | |
Lease liabilities | 171,000,000 | $ 128,000,000 | ||
Trade and other payables | 601,000,000 | 597,000,000 | 641,000,000 | |
Total liabilities | 4,187,000,000 | $ 3,949,000,000 | $ 4,515,000,000 | |
Disposal groups classified as held for sale | ||||
Assets And Liabilities Classified As Held For Sale [Line Items] | ||||
Total assets | 601,000,000 | |||
Sadiola | Disposal groups classified as held for sale | ||||
Assets And Liabilities Classified As Held For Sale [Line Items] | ||||
Total assets | 20,000,000 | |||
South Africa | Disposal groups classified as held for sale | ||||
Assets And Liabilities Classified As Held For Sale [Line Items] | ||||
Tangible and right of use assets | 429,000,000 | |||
Other investments | 84,000,000 | |||
Inventories | 37,000,000 | |||
Trade, other receivables and other assets | 4,000,000 | |||
Deferred taxation | 15,000,000 | |||
Cash and cash restricted for use | 12,000,000 | |||
Total assets | 581,000,000 | |||
Lease liabilities | 3,000,000 | |||
Environmental rehabilitation and other provisions | 211,000,000 | |||
Trade and other payables | 58,000,000 | |||
Total liabilities | 272,000,000 | |||
Net assets held for sale | $ 309,000,000 |
Employee Benefits (Details)
Employee Benefits (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of net defined benefit liability (asset) [line items] | |||
Employee benefits including Executive Directors’ and Prescribed Officers’ salaries and other benefits | $ 680 | $ 797 | $ 1,024 |
- defined benefit post-retirement medical expenses | 9 | 10 | 9 |
Retrenchment costs | 7 | 30 | 92 |
Share-based payment expense (note 11) | 42 | 35 | 33 |
Included in cost of sales, other expenses (income) and corporate administration, marketing and other expenses of continuing and discontinued operations | 795 | 947 | 1,270 |
Post-retirement medical scheme for AngloGold Ashanti's South African employees | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
- current medical expenses | 29 | 39 | 58 |
- defined benefit post-retirement medical expenses | 8 | 9 | 10 |
Pension | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
- defined contribution | $ 29 | $ 37 | $ 53 |
Share-based Payments - Share-ba
Share-based Payments - Share-based Payment Expense (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Equity-settled share incentive schemes | $ 21 | $ 22 | $ 26 |
Cash-settled Long Term Incentive Plan (CSLTIP) | 21 | 13 | 7 |
Total share-based payment expense (note 10) | 42 | 35 | 33 |
Bonus Share Plan (BSP) | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Equity-settled share incentive schemes | 6 | 20 | 26 |
Deferred Share Plan (DSP) | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Equity-settled share incentive schemes | 13 | 0 | 0 |
Other | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Equity-settled share incentive schemes | $ 2 | $ 2 | $ 0 |
Share-based Payments - Equity-s
Share-based Payments - Equity-settled Plans (Details) | 12 Months Ended | |||
Dec. 31, 2019ZAR (R)shares | Dec. 31, 2018ZAR (R)shares | Dec. 31, 2017ZAR (R)shares | Dec. 31, 2015ZAR (R) | |
Bonus Share Plan (BSP) | ||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||
Calculated fair value | R | R 119.14 | R 152.87 | ||
Awards outstanding at beginning of year (in shares) | 4,557,919 | 4,479,679 | 4,198,285 | |
Awards granted during the year (in shares) | 0 | 2,492,584 | 1,926,549 | |
Awards lapsed during the year (in shares) | (109,065) | (359,343) | (218,601) | |
Awards exercised during the year (in shares) | (2,307,439) | (2,055,001) | (1,426,554) | |
Awards outstanding at end of year (in shares) | 2,141,415 | 4,557,919 | 4,479,679 | |
Awards exercisable at end of year (in shares) | 1,207,936 | 1,588,512 | 1,904,021 | |
Deferred Share Plan (DSP) | ||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||
Calculated fair value | R | R 204.42 | |||
Awards granted during the year (in shares) | 1,669,191 | |||
Awards lapsed during the year (in shares) | (55,208) | |||
Awards exercised during the year (in shares) | (14,623) | |||
Awards outstanding at end of year (in shares) | 1,599,360 | |||
Long Term Incentive Plan (LTIP) | ||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||
Calculated fair value | R | R 129.94 | |||
Awards outstanding at beginning of year (in shares) | 447,842 | 2,466,357 | 4,363,330 | |
Awards lapsed during the year (in shares) | 0 | (1,186,330) | (1,512,857) | |
Awards exercised during the year (in shares) | (218,203) | (832,185) | (384,116) | |
Awards outstanding at end of year (in shares) | 229,639 | 447,842 | 2,466,357 | |
Awards exercisable at end of year (in shares) | 229,639 | 447,842 | 455,914 | |
Co-investment Plan (CIP) | ||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||
Awards outstanding at beginning of year (in shares) | 112,578 | 95,378 | 97,651 | |
Awards granted during the year (in shares) | 0 | 80,809 | 112,105 | |
Awards lapsed during the year (in shares) | (16,500) | (11,633) | (62,775) | |
Awards matched during the year (in shares) | (72,151) | (51,976) | (51,603) | |
Awards outstanding at end of year (in shares) | 23,927 | 112,578 | 95,378 | |
Tranche One | Bonus Share Plan (BSP) | ||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||
Award vesting percentage | 50.00% | |||
Tranche One | DSP 2 year | ||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||
Award vesting percentage | 50.00% | |||
Tranche One | DSP 3 year | ||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||
Award vesting percentage | 33.00% | |||
Tranche One | DSP 5 year | ||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||
Award vesting percentage | 20.00% | |||
Tranche Two | Bonus Share Plan (BSP) | ||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||
Award vesting percentage | 50.00% | |||
Tranche Two | DSP 2 year | ||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||
Award vesting percentage | 50.00% | |||
Tranche Two | DSP 3 year | ||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||
Award vesting percentage | 33.00% | |||
Tranche Two | DSP 5 year | ||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||
Award vesting percentage | 20.00% | |||
Tranche three | DSP 3 year | ||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||
Award vesting percentage | 34.00% | |||
Tranche three | DSP 5 year | ||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||
Award vesting percentage | 20.00% | |||
Tranche four | DSP 5 year | ||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||
Award vesting percentage | 20.00% | |||
Tranche five | DSP 5 year | ||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||
Award vesting percentage | 20.00% |
Share-based Payments - Narrativ
Share-based Payments - Narrative (Details) - shares | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Bonus Share Plan, Cash settled | |||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
Awards outstanding (in shares) | 12,295 | 33,046 | 23,666 |
Awards vested, deemed settled (in shares) | 20,751 | 15,209 | 6,754 |
Deferred Share Plan (DSP) | |||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
Awards outstanding (in shares) | 1,599,360 | ||
Awards vested, deemed settled (in shares) | 14,623 | ||
DSP 2 year | |||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
Award vesting period | 2 years | ||
DSP 3 year | |||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
Award vesting period | 3 years | ||
DSP 5 year | |||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
Award vesting period | 5 years |
Share-based Payments - Cash-set
Share-based Payments - Cash-settled Plans (Details) - R / shares | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Closing share price (in zar per share) | R 316.50 | R 181.75 | R 128.62 |
Cash-settled Long Term Incentive Plan | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Share units outstanding at beginning of year (in shares) | 3,815,761 | 4,469,618 | 2,464,630 |
Share units granted during the year (in shares) | 0 | 0 | 2,572,437 |
Share units lapsed during the year (in shares) | (1,305,761) | (611,265) | (507,597) |
Share units exercised during the year (in shares) | (1,029,438) | (42,592) | (59,852) |
Share units outstanding at end of year (in shares) | 1,480,562 | 3,815,761 | 4,469,618 |
Income Taxes - Income Tax Benef
Income Taxes - Income Tax Benefit (Expense) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Major components of tax expense (income) [abstract] | |||
Normal taxation | $ 298 | $ 242 | $ 190 |
Prior year (over) under provision | 0 | 3 | (24) |
Deferred taxation | |||
Change in statutory tax rate | 2 | (1) | (2) |
Income tax expense | 250 | 212 | 163 |
South Africa | |||
Major components of tax expense (income) [abstract] | |||
Normal taxation | 0 | 0 | 1 |
Prior year (over) under provision | 0 | (2) | 0 |
Deferred taxation | |||
Other temporary differences | (18) | (27) | (42) |
Change in estimated deferred tax rate | (14) | 7 | 10 |
Income tax expense | (32) | (22) | (31) |
Foreign taxation | |||
Major components of tax expense (income) [abstract] | |||
Normal taxation | 299 | 243 | 201 |
Prior year (over) under provision | (1) | 1 | (26) |
Deferred taxation | |||
Other temporary differences | (28) | (6) | 19 |
Prior year (over) under provision | 1 | 4 | 2 |
Change in estimated deferred tax rate | 9 | (7) | 0 |
Change in statutory tax rate | 2 | (1) | (2) |
Income tax expense | $ 282 | $ 234 | $ 194 |
Income Taxes - Disclosure Of Re
Income Taxes - Disclosure Of Reconciliation To South African Statutory Rate (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
DisclosureOfReconciliationToSouthAfricanStatutoryRate [Line Items] | |||
Implied tax charge at 28% | $ 173 | $ 125 | $ 92 |
Expenses not tax deductible | 28 | 28 | 25 |
Share of associates and joint ventures' (profit) loss | (47) | (34) | (6) |
Tax rate differentials | 39 | 25 | 29 |
Exchange variations, translation and accounting adjustments | 11 | 24 | 6 |
Change in planned utilisation of deferred tax assets and impact of estimated deferred tax rate change | (5) | 0 | 10 |
Tax effect of retained SA items | 3 | (10) | (13) |
Tax allowances | (1) | (2) | (3) |
Impact of statutory tax rate change | 2 | (1) | (2) |
Adjustment in respect of prior years | 0 | 3 | (24) |
Income tax expense | $ 250 | $ 212 | $ 163 |
Isle of Man | |||
DisclosureOfReconciliationToSouthAfricanStatutoryRate [Line Items] | |||
Applicable tax rate | 0.00% | ||
United Kingdom | |||
DisclosureOfReconciliationToSouthAfricanStatutoryRate [Line Items] | |||
Applicable tax rate | 19.00% | 19.00% | |
Obuasi | |||
DisclosureOfReconciliationToSouthAfricanStatutoryRate [Line Items] | |||
Current year tax losses not recognised (recognised) in deferred tax assets | $ 14 | $ 13 | $ 18 |
AngloGold Ashanti Holdings plc | |||
DisclosureOfReconciliationToSouthAfricanStatutoryRate [Line Items] | |||
Current year tax losses not recognised (recognised) in deferred tax assets | 29 | 36 | 0 |
Tax exempt entities | 0 | 0 | 31 |
North America | |||
DisclosureOfReconciliationToSouthAfricanStatutoryRate [Line Items] | |||
Current year tax losses not recognised (recognised) in deferred tax assets | 6 | 6 | 0 |
Other | |||
DisclosureOfReconciliationToSouthAfricanStatutoryRate [Line Items] | |||
Tax exempt entities | $ (2) | $ (1) | $ 0 |
Income Taxes - Unrecognised Tax
Income Taxes - Unrecognised Tax Losses (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Tax losses available to be utilised against future profits | $ 1,487,000,000 | $ 1,790,000,000 | $ 1,592,000,000 |
Deferred tax assets | 105,000,000 | 0 | 4,000,000 |
Tax losses | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 389,000,000 | 501,000,000 | 470,000,000 |
Within one year | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Tax losses available to be utilised against future profits | 0 | 48,000,000 | 0 |
Between one and two years | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Tax losses available to be utilised against future profits | 85,000,000 | 187,000,000 | 48,000,000 |
Between two and five years | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Tax losses available to be utilised against future profits | 356,000,000 | 300,000,000 | 333,000,000 |
Between five and twenty years | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Tax losses available to be utilised against future profits | 973,000,000 | 1,229,000,000 | 1,210,000,000 |
In excess of twenty years | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Tax losses available to be utilised against future profits | $ 73,000,000 | $ 26,000,000 | $ 1,000,000 |
Income Taxes - Narrative (Detai
Income Taxes - Narrative (Details) - USD ($) $ in Millions | 1 Months Ended | 12 Months Ended | |||
Dec. 31, 2019 | Jul. 31, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Argentina Tax Authority | |||||
Disclosure of contingent liabilities [line items] | |||||
Tax assessment | $ 10 | $ 14 | $ 27 | ||
Brazil Tax Authority | |||||
Disclosure of contingent liabilities [line items] | |||||
Tax assessment | $ 25 | ||||
Columbian Tax Authority | |||||
Disclosure of contingent liabilities [line items] | |||||
Tax assessment | 88 | 144 | 150 | ||
Reduction of tax assessment | $ 76 | ||||
Guinea Tax Authority | |||||
Disclosure of contingent liabilities [line items] | |||||
Tax assessment | 12 | 8 | 8 | ||
Mali Tax Authority | |||||
Disclosure of contingent liabilities [line items] | |||||
Tax assessment | 10 | 26 | 16 | 16 | |
Income tax | Guinea Tax Authority | |||||
Disclosure of contingent liabilities [line items] | |||||
Provision | 2 | 2 | 2 | 2 | |
Income tax | Tanzania Revenue Authority | |||||
Disclosure of contingent liabilities [line items] | |||||
Tax assessment | 164 | 163 | 113 | ||
Provision | $ 2 | $ 2 | $ 2 | $ 2 |
Earnings (Loss) per Ordinary _3
Earnings (Loss) per Ordinary Share - Basic and Diluted Earnings per Share (Details) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Basic earnings (loss) per ordinary share | |||
Basic earnings (loss) per ordinary share (dollars per share) | $ (0.03) | $ 0.32 | $ (0.46) |
Basic earnings (loss) per ordinary share - Continuing operations (dollars per share) | 0.87 | 0.52 | 0.35 |
Basic earnings (loss) per ordinary share - Discontinued operations (dollars per share) | $ (0.90) | $ (0.20) | $ (0.81) |
Profits (losses) attributable to equity shareholders - continuing operations | $ 364 | $ 216 | $ 145 |
Profits (losses) attributable to equity shareholders - discontinued operations | $ (376) | $ (83) | $ (336) |
Weighted average number of shares (in shares) | 418,349,777 | 417,122,155 | 415,440,077 |
Diluted earnings (loss) per ordinary share | |||
Diluted earnings (loss) per ordinary share (dollars per share) | $ (0.03) | $ 0.32 | $ (0.46) |
Diluted earnings (loss) per ordinary share - Continuing operations (dollars per share) | 0.87 | 0.52 | 0.35 |
Diluted earnings (loss) per ordinary share - Discontinued operations (dollars per share) | $ (0.90) | $ (0.20) | $ (0.81) |
Diluted profits (losses) attributable to equity shareholders - continuing operations | $ 364 | $ 216 | $ 145 |
Diluted profits (losses) attributable to equity shareholders - discontinued operations | $ (376) | $ (83) | $ (336) |
Diluted weighted average number of shares (in shares) | 418,349,777 | 417,379,405 | 415,440,077 |
Earnings (Loss) per Ordinary _4
Earnings (Loss) per Ordinary Share - Dilutive Shares (Details) - shares | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of earnings per share [Abstract] | |||
Ordinary shares (in shares) | 414,407,622 | 411,412,947 | 409,265,471 |
Fully vested options and currently exercisable (in shares) | 3,942,155 | 5,709,208 | 6,174,606 |
Weighted average number of shares (in shares) | 418,349,777 | 417,122,155 | 415,440,077 |
Dilutive potential of share options (in shares) | 0 | 257,250 | 0 |
Fully diluted number of ordinary shares (in shares) | 418,349,777 | 417,379,405 | 415,440,077 |
Number of share options that could potentially dilute basic earnings in future but not included as effect was anti-dilutive (in shares) | 517,186 | 0 | 576,426 |
Earnings (Loss) per Ordinary _5
Earnings (Loss) per Ordinary Share - Headline Earnings (Loss) per Share (Details) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of earnings per share [Abstract] | |||
Profit (loss) attributable to equity shareholders From continuing and discontinued operations | $ (12) | $ 133 | $ (191) |
Net impairment (impairment reversal) and derecognition of assets | 559 | 102 | 298 |
Net (profit) loss on disposal of assets | (3) | 32 | (8) |
Taxation thereon | (165) | (47) | (72) |
Headline earnings (loss) | $ 379 | $ 220 | $ 27 |
Basic headline earnings (loss) per share (cents per share) | $ 0.91 | $ 0.53 | $ 0.06 |
Diluted headline earnings (loss) per share (cents per share) | $ 0.91 | $ 0.53 | $ 0.06 |
Weighted average number of shares (in shares) | 418,349,777 | 417,122,155 | 415,440,077 |
Diluted headline earnings (loss) | $ 379 | $ 220 | $ 27 |
Diluted weighted average number of shares (in shares) | 418,349,777 | 417,379,405 | 415,440,077 |
Dividends (Details)
Dividends (Details) $ / shares in Units, $ in Millions | Feb. 19, 2019$ / shares | Feb. 19, 2019R / shares | Feb. 20, 2018$ / shares | Feb. 20, 2018R / shares | Feb. 21, 2017$ / shares | Feb. 21, 2017R / shares | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) |
Disclosure of share capital, reserves and other equity interest [Abstract] | |||||||||
Dividends declared (in dollars per share) | (per share) | $ 0.07 | R 0.95 | $ 0.06 | R 0.70 | $ 0.1 | R 1.30 | |||
Dividends paid | $ 27 | $ 24 | $ 39 |
Tangible Assets (Details)
Tangible Assets (Details) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019USD ($)$ / oz | Dec. 31, 2018USD ($)$ / oz | Dec. 31, 2017USD ($) | |
Reconciliation of changes in property, plant and equipment [abstract] | |||
Beginning balance | $ 3,381 | $ 3,742 | |
Additions | |||
Impairment and derecognition of assets | 505 | 104 | $ 288 |
Ending balance | $ 2,592 | $ 3,381 | 3,742 |
Long-term real gold price used in assumptions | $ / oz | 1,300 | 1,239 | |
Weighted average cost of capital used | 8.10% | 8.30% | |
Change in weighted average cost of capital used | 0.20% | ||
Bottom of range | |||
Additions | |||
Life of mine plans | 1 year | ||
Top of range | |||
Additions | |||
Life of mine plans | 39 years | ||
Mine development costs | |||
Reconciliation of changes in property, plant and equipment [abstract] | |||
Beginning balance | $ 1,490 | $ 1,583 | |
Additions | |||
Ending balance | 1,135 | 1,490 | 1,583 |
Mine infrastructure | |||
Reconciliation of changes in property, plant and equipment [abstract] | |||
Beginning balance | 1,301 | 1,586 | |
Additions | |||
Ending balance | 973 | 1,301 | 1,586 |
Mineral rights and dumps | |||
Reconciliation of changes in property, plant and equipment [abstract] | |||
Beginning balance | 39 | 39 | |
Additions | |||
Ending balance | 35 | 39 | 39 |
Exploration and evaluation assets | |||
Reconciliation of changes in property, plant and equipment [abstract] | |||
Beginning balance | 1 | 2 | |
Additions | |||
Ending balance | 3 | 1 | 2 |
Assets under construction | |||
Reconciliation of changes in property, plant and equipment [abstract] | |||
Beginning balance | 485 | 464 | |
Additions | |||
Ending balance | 380 | 485 | 464 |
Land and buildings | |||
Reconciliation of changes in property, plant and equipment [abstract] | |||
Beginning balance | 65 | 68 | |
Additions | |||
Ending balance | 66 | 65 | 68 |
Cost | |||
Reconciliation of changes in property, plant and equipment [abstract] | |||
Beginning balance | 11,367 | 11,414 | 11,975 |
Additions | |||
- project capital | 339 | 177 | 156 |
- stay-in-business capital | 424 | 467 | 665 |
Finance costs capitalised | 6 | ||
Disposals | 17 | 39 | 21 |
Transfers and other movements | (544) | (250) | (506) |
Transfer to assets and liabilities held for sale | 1,431 | 1,148 | |
Translation | (8) | (402) | 293 |
Ending balance | 10,136 | 11,367 | 11,414 |
Cost | Mine development costs | |||
Reconciliation of changes in property, plant and equipment [abstract] | |||
Beginning balance | 5,674 | 5,562 | 5,943 |
Additions | |||
- project capital | 43 | 2 | 28 |
- stay-in-business capital | 208 | 294 | 371 |
Finance costs capitalised | 0 | ||
Disposals | 1 | 5 | 1 |
Transfers and other movements | (259) | 60 | (168) |
Transfer to assets and liabilities held for sale | 660 | 785 | |
Translation | (4) | (239) | 174 |
Ending balance | 5,001 | 5,674 | 5,562 |
Cost | Mine infrastructure | |||
Reconciliation of changes in property, plant and equipment [abstract] | |||
Beginning balance | 4,212 | 4,382 | 4,576 |
Additions | |||
- project capital | 0 | 0 | 3 |
- stay-in-business capital | 25 | 20 | 37 |
Finance costs capitalised | 0 | ||
Disposals | 16 | 30 | 20 |
Transfers and other movements | 219 | (41) | (21) |
Transfer to assets and liabilities held for sale | 663 | 281 | |
Translation | (1) | (119) | 88 |
Ending balance | 3,776 | 4,212 | 4,382 |
Cost | Mine infrastructure | Assets held under finance leases | |||
Reconciliation of changes in property, plant and equipment [abstract] | |||
Beginning balance | 45 | 56 | |
Additions | |||
Ending balance | 0 | 45 | 56 |
Cost | Mineral rights and dumps | |||
Reconciliation of changes in property, plant and equipment [abstract] | |||
Beginning balance | 888 | 892 | 919 |
Additions | |||
- project capital | 0 | 0 | 0 |
- stay-in-business capital | 1 | 3 | 0 |
Finance costs capitalised | 0 | ||
Disposals | 0 | 0 | 0 |
Transfers and other movements | 1 | 0 | (27) |
Transfer to assets and liabilities held for sale | 9 | 7 | |
Translation | 0 | (7) | 7 |
Ending balance | 881 | 888 | 892 |
Cost | Exploration and evaluation assets | |||
Reconciliation of changes in property, plant and equipment [abstract] | |||
Beginning balance | 4 | 5 | 5 |
Additions | |||
- project capital | 1 | 0 | 0 |
- stay-in-business capital | 2 | 0 | 0 |
Finance costs capitalised | 0 | ||
Disposals | 0 | 1 | 0 |
Transfers and other movements | 0 | 0 | 0 |
Transfer to assets and liabilities held for sale | 0 | 0 | |
Translation | 0 | 0 | 0 |
Ending balance | 7 | 4 | 5 |
Cost | Assets under construction | |||
Reconciliation of changes in property, plant and equipment [abstract] | |||
Beginning balance | 512 | 490 | 450 |
Additions | |||
- project capital | 281 | 175 | 125 |
- stay-in-business capital | 188 | 149 | 257 |
Finance costs capitalised | 6 | ||
Disposals | 0 | 0 | 0 |
Transfers and other movements | (489) | (270) | (291) |
Transfer to assets and liabilities held for sale | 90 | 72 | |
Translation | (3) | (32) | 21 |
Ending balance | 405 | 512 | 490 |
Cost | Land and buildings | |||
Reconciliation of changes in property, plant and equipment [abstract] | |||
Beginning balance | 77 | 83 | 82 |
Additions | |||
- project capital | 14 | 0 | 0 |
- stay-in-business capital | 0 | 1 | 0 |
Finance costs capitalised | 0 | ||
Disposals | 0 | 3 | 0 |
Transfers and other movements | (16) | 1 | 1 |
Transfer to assets and liabilities held for sale | 9 | 3 | |
Translation | 0 | (5) | 3 |
Ending balance | 66 | 77 | 83 |
Assets pledged as security | 9 | 10 | 11 |
Cost | Land and buildings | Assets held under finance leases | |||
Reconciliation of changes in property, plant and equipment [abstract] | |||
Beginning balance | 3 | 6 | |
Additions | |||
Ending balance | 0 | 3 | 6 |
Accumulated amortisation and impairments | |||
Reconciliation of changes in property, plant and equipment [abstract] | |||
Beginning balance | (7,986) | (7,672) | (7,864) |
Additions | |||
Amortisation for the year | 609 | 634 | 829 |
Impairment and derecognition of assets | 505 | 104 | 253 |
Disposals | (16) | (35) | (21) |
Transfers and other movements | 522 | 205 | 516 |
Transfer to assets and liabilities held for sale | (1,003) | (859) | |
Translation | 15 | 184 | (122) |
Ending balance | (7,544) | (7,986) | (7,672) |
Accumulated amortisation and impairments | Mine development costs | |||
Reconciliation of changes in property, plant and equipment [abstract] | |||
Beginning balance | (4,184) | (3,979) | (4,163) |
Additions | |||
Amortisation for the year | 392 | 397 | 553 |
Impairment and derecognition of assets | 243 | 0 | 182 |
Disposals | (1) | (5) | (1) |
Transfers and other movements | 455 | 52 | 326 |
Transfer to assets and liabilities held for sale | (488) | (685) | |
Translation | 9 | 135 | (93) |
Ending balance | (3,866) | (4,184) | (3,979) |
Accumulated amortisation and impairments | Mine infrastructure | |||
Reconciliation of changes in property, plant and equipment [abstract] | |||
Beginning balance | (2,911) | (2,796) | (2,792) |
Additions | |||
Amortisation for the year | 215 | 233 | 272 |
Impairment and derecognition of assets | 172 | 104 | 62 |
Disposals | (15) | (27) | (20) |
Transfers and other movements | 53 | 153 | 163 |
Transfer to assets and liabilities held for sale | (422) | (169) | |
Translation | 5 | 42 | (22) |
Ending balance | (2,803) | (2,911) | (2,796) |
Accumulated amortisation and impairments | Mineral rights and dumps | |||
Reconciliation of changes in property, plant and equipment [abstract] | |||
Beginning balance | (849) | (853) | (868) |
Additions | |||
Amortisation for the year | 1 | 2 | 3 |
Impairment and derecognition of assets | 0 | 0 | 8 |
Disposals | 0 | 0 | 0 |
Transfers and other movements | (1) | 0 | 27 |
Transfer to assets and liabilities held for sale | (5) | (4) | |
Translation | 0 | 6 | (5) |
Ending balance | (846) | (849) | (853) |
Accumulated amortisation and impairments | Exploration and evaluation assets | |||
Reconciliation of changes in property, plant and equipment [abstract] | |||
Beginning balance | (3) | (3) | (3) |
Additions | |||
Amortisation for the year | 1 | 1 | 0 |
Impairment and derecognition of assets | 0 | 0 | 0 |
Disposals | 0 | (1) | 0 |
Transfers and other movements | 0 | 0 | 0 |
Transfer to assets and liabilities held for sale | 0 | 0 | |
Translation | 0 | 0 | 0 |
Ending balance | (4) | (3) | (3) |
Accumulated amortisation and impairments | Assets under construction | |||
Reconciliation of changes in property, plant and equipment [abstract] | |||
Beginning balance | (27) | (26) | (26) |
Additions | |||
Amortisation for the year | 0 | 0 | 0 |
Impairment and derecognition of assets | 90 | 0 | 1 |
Disposals | 0 | 0 | 0 |
Transfers and other movements | 3 | 0 | 0 |
Transfer to assets and liabilities held for sale | (88) | (1) | |
Translation | 1 | (1) | 0 |
Ending balance | (25) | (27) | (26) |
Accumulated amortisation and impairments | Land and buildings | |||
Reconciliation of changes in property, plant and equipment [abstract] | |||
Beginning balance | (12) | (15) | (12) |
Additions | |||
Amortisation for the year | 0 | 1 | 1 |
Impairment and derecognition of assets | 0 | 0 | 0 |
Disposals | 0 | (2) | 0 |
Transfers and other movements | 12 | 0 | 0 |
Transfer to assets and liabilities held for sale | 0 | 0 | |
Translation | 0 | 2 | (2) |
Ending balance | $ 0 | $ (12) | $ (15) |
Tangible Assets - Impairments a
Tangible Assets - Impairments and Derecognitions of Tangible Assets (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of detailed information about property, plant and equipment [line items] | |||
Impairment and derecognition of tangible assets | $ 505 | $ 104 | $ 288 |
Accumulated amortisation and impairments | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Impairment and derecognition of tangible assets | 505 | 104 | 253 |
Accumulated amortisation and impairments | First Uranium - Mine Waste Solutions | Discontinued operations | South African Assets | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Impairment and derecognition of tangible assets | 89 | 93 | 13 |
Accumulated amortisation and impairments | TauTona | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Impairment and derecognition of tangible assets | 0 | 0 | 79 |
Accumulated amortisation and impairments | Kopanang | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Impairment and derecognition of tangible assets | 0 | 0 | 35 |
Accumulated amortisation and impairments | Surface Operations | Discontinued operations | South African Assets | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Impairment and derecognition of tangible assets | 18 | 1 | 9 |
Accumulated amortisation and impairments | Moab Khotsong | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Impairment and derecognition of tangible assets | 0 | 0 | 112 |
Accumulated amortisation and impairments | Mponeng | Discontinued operations | South African Assets | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Impairment and derecognition of tangible assets | 384 | 4 | 2 |
Accumulated amortisation and impairments | Covalent | Discontinued operations | South African Assets | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Impairment and derecognition of tangible assets | 11 | 0 | 0 |
Accumulated amortisation and impairments | Obuasi | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Impairment and derecognition of tangible assets | 0 | 5 | 0 |
Accumulated amortisation and impairments | Siguiri | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Impairment and derecognition of tangible assets | 2 | 0 | 0 |
Accumulated amortisation and impairments | AGA Mineração | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Impairment and derecognition of tangible assets | 1 | 0 | 0 |
Accumulated amortisation and impairments | Other | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Impairment and derecognition of tangible assets | $ 0 | $ 1 | $ 3 |
Tangible Assets - Cash Generati
Tangible Assets - Cash Generating Units With Marginal Headroom (Details) $ in Millions | Jun. 30, 2020USD ($) | Dec. 31, 2019USD ($)$ / oz | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) |
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||||
Value in use | $ 363 | $ 750 | $ 402 | |
Kibali | ||||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||||
Decrease of the long-term real gold price that would cause the recoverable amount of CGU to equal the carrying amount (in dollars per ounce) | $ / oz | 1,300 | |||
Decrease of the long-term real gold price that would cause the recoverable amount of CGU to equal the carrying amount | 4.20% | |||
Carrying value | $ 1,506 | |||
Value in use | $ 1,628 | |||
Forecast | Agreement to sell assets and related liabilities | Discontinued operations | South African Assets | ||||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||||
Expected proceeds from sale | $ 300 |
Right of Use Assets and Lease_3
Right of Use Assets and Lease Liabilities - Right of Use Assets (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Disclosure of quantitative information about right-of-use assets [line items] | |
Amortisation for the year | $ 42 |
Right of use assets | 158 |
Cost | |
Disclosure of quantitative information about right-of-use assets [line items] | |
Stay-in-business capital | 32 |
Transfers and other movements | 73 |
Transfer to non-current assets and liabilities held for sale | 1 |
Translation | 1 |
Right of use assets | 233 |
Accumulated amortisation and impairments | |
Disclosure of quantitative information about right-of-use assets [line items] | |
Amortisation for the year | 42 |
Transfers and other movements | (33) |
Right of use assets | (75) |
Mine infrastructure | |
Disclosure of quantitative information about right-of-use assets [line items] | |
Right of use assets | 148 |
Mine infrastructure | Cost | |
Disclosure of quantitative information about right-of-use assets [line items] | |
Stay-in-business capital | 32 |
Transfers and other movements | 58 |
Transfer to non-current assets and liabilities held for sale | 0 |
Translation | 0 |
Right of use assets | 209 |
Mine infrastructure | Accumulated amortisation and impairments | |
Disclosure of quantitative information about right-of-use assets [line items] | |
Amortisation for the year | 40 |
Transfers and other movements | (21) |
Right of use assets | (61) |
Land and buildings | |
Disclosure of quantitative information about right-of-use assets [line items] | |
Right of use assets | 10 |
Land and buildings | Cost | |
Disclosure of quantitative information about right-of-use assets [line items] | |
Stay-in-business capital | 0 |
Transfers and other movements | 15 |
Transfer to non-current assets and liabilities held for sale | 1 |
Translation | 1 |
Right of use assets | 24 |
Land and buildings | Accumulated amortisation and impairments | |
Disclosure of quantitative information about right-of-use assets [line items] | |
Amortisation for the year | 2 |
Transfers and other movements | (12) |
Right of use assets | $ (14) |
Right of Use Assets and Lease_4
Right of Use Assets and Lease Liabilities - Lease Expenses (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Leases [Abstract] | |
Amortisation expense on right of use assets | $ 42 |
Interest expense on lease liabilities | 10 |
Expenses on short term leases | 83 |
Expenses on variable lease payments not included in the lease liabilities | 220 |
Expenses on leases of low value assets | $ 2 |
Right of Use Assets and Lease_5
Right of Use Assets and Lease Liabilities - Narrative (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Jan. 01, 2019 | |
Leases [Abstract] | ||
Cash outflow for leases | $ 51 | |
Repayment of liabilities | 42 | |
Lease finance costs paid included in the statement of cash flows | $ 9 | |
Weighted average incremental borrowing rate at date of initial application | 4.72% |
Right of Use Assets and Lease_6
Right of Use Assets and Lease Liabilities - Lease Liabilities (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Jan. 01, 2019 |
Leases [Abstract] | ||
Non-current | $ 126 | |
Current | 45 | |
Total | $ 171 | $ 128 |
Right of Use Assets and Lease_7
Right of Use Assets and Lease Liabilities - Reconciliation of Lease Liabilities (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Jan. 01, 2019 | |
Leases [Abstract] | ||
Lease liabilities recognised | $ 160 | |
Repayment of lease liabilities | (42) | |
Finance costs paid on lease liabilities | (9) | |
Interest charged to the income statement | 10 | |
Reclassification of finance leases from borrowings | 60 | |
Change in estimate | (5) | |
Translation | (3) | |
Closing balance | 171 | $ 128 |
Lease finance costs paid included in the statement of cash flows | $ 9 |
Right of Use Assets and Lease_8
Right of Use Assets and Lease Liabilities - Maturity Analysis of Lease Liabilities (Details) $ in Millions | Dec. 31, 2019USD ($) |
Disclosure of maturity analysis of operating lease payments [line items] | |
Undiscounted cash flows | $ 198 |
Less than and including 1 year | |
Disclosure of maturity analysis of operating lease payments [line items] | |
Undiscounted cash flows | 52 |
Between 1 and 5 years | |
Disclosure of maturity analysis of operating lease payments [line items] | |
Undiscounted cash flows | 89 |
More than five years | |
Disclosure of maturity analysis of operating lease payments [line items] | |
Undiscounted cash flows | $ 57 |
Right of Use Assets and Lease_9
Right of Use Assets and Lease Liabilities - Reconciliation between IFRS 16 Lease Liabilities and Lease Commitments as at 31 December 2018 (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 |
Leases [Abstract] | |||
Lease liabilities at 1 January 2019 | $ 171 | $ 128 | |
Discounting of lease liabilities | 16 | ||
Non-qualifying leases | $ 121 | ||
Lease commitments at 31 December 2018 | $ 265 |
Intangible Assets (Details)
Intangible Assets (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of reconciliation of changes in intangible assets and goodwill [abstract] | |||
Beginning balance | $ 123 | $ 138 | |
Amortisation for the year | 3 | 5 | $ 5 |
Ending balance | 123 | 123 | 138 |
Cost | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [abstract] | |||
Beginning balance | 283 | 299 | 564 |
Additions | 1 | 1 | |
Transfer to assets and liabilities held for sale | 26 | 17 | |
Disposals | 3 | ||
Transfers and other movements | 3 | 4 | (264) |
Translation | (18) | 15 | |
Ending balance | 260 | 283 | 299 |
Accumulated amortisation and impairments | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [abstract] | |||
Beginning balance | (160) | (161) | (419) |
Transfer to assets and liabilities held for sale | (26) | (15) | |
Amortisation for the year | 3 | 5 | 6 |
Impairment | 9 | ||
Disposals | (3) | ||
Transfers and other movements | (4) | 264 | |
Translation | 7 | (6) | |
Ending balance | (137) | (160) | (161) |
Goodwill | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [abstract] | |||
Beginning balance | 116 | 127 | |
Ending balance | 116 | 116 | 127 |
Goodwill | Cost | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [abstract] | |||
Beginning balance | 116 | 127 | 379 |
Additions | 0 | 0 | |
Transfer to assets and liabilities held for sale | 0 | 0 | |
Disposals | 0 | ||
Transfers and other movements | 0 | 0 | (263) |
Translation | (11) | 11 | |
Ending balance | 116 | 116 | 127 |
Goodwill | Accumulated amortisation and impairments | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [abstract] | |||
Beginning balance | 0 | 0 | (253) |
Transfer to assets and liabilities held for sale | 0 | 0 | |
Impairment | 9 | ||
Disposals | 0 | ||
Transfers and other movements | 0 | 263 | |
Translation | 0 | (1) | |
Ending balance | 0 | 0 | 0 |
Other | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [abstract] | |||
Beginning balance | 7 | 11 | |
Ending balance | 7 | 7 | 11 |
Other | Cost | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [abstract] | |||
Beginning balance | 167 | 172 | 185 |
Additions | 1 | 1 | |
Transfer to assets and liabilities held for sale | 26 | 17 | |
Disposals | 3 | ||
Transfers and other movements | 3 | 4 | (1) |
Translation | (7) | 4 | |
Ending balance | 144 | 167 | 172 |
Other | Accumulated amortisation and impairments | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [abstract] | |||
Beginning balance | (160) | (161) | (166) |
Transfer to assets and liabilities held for sale | (26) | (15) | |
Amortisation for the year | 3 | 5 | 6 |
Impairment | 0 | ||
Disposals | (3) | ||
Transfers and other movements | (4) | 1 | |
Translation | 7 | (5) | |
Ending balance | $ (137) | $ (160) | $ (161) |
Intangible Assets - Impairment
Intangible Assets - Impairment Calculation Assumptions for Goodwill (Details) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019USD ($)$ / oz | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | |
Disclosure of information for cash-generating units [line items] | |||
Value in use | $ 363 | $ 750 | $ 402 |
Goodwill | 116 | 116 | 127 |
Cash-generating units | |||
Disclosure of information for cash-generating units [line items] | |||
Goodwill | 116 | 116 | 127 |
Sunrise Dam | |||
Disclosure of information for cash-generating units [line items] | |||
Carrying Value | 220 | ||
Value in use | 363 | ||
Amount by which unit's recoverable amount exceeds its carrying amount | 143 | ||
Goodwill | $ 108 | $ 108 | $ 119 |
Decrease of the long-term real gold price that would cause the recoverable amount of CGU to equal the carrying amount (in dollars per ounce) | $ / oz | 1,300 | ||
Decrease of the long-term real gold price that would cause the recoverable amount of CGU to equal the carrying amount | 5.00% | ||
Real pre-tax discount rates applied in impairment calculations on CGUs for which the carrying amount of goodwill is significant | 10.80% | 8.30% | 8.30% |
Serra Grande | |||
Disclosure of information for cash-generating units [line items] | |||
Goodwill | $ 8 | $ 8 | $ 8 |
Material Partly-Owned Subsidi_3
Material Partly-Owned Subsidiaries (Details) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Jan. 01, 2018 | Dec. 31, 2016 | |
Disclosure of subsidiaries [line items] | |||||
Accumulated balances of material non-controlling interests | $ 36 | $ 42 | $ 41 | ||
Profit (loss) for the year | (7) | 150 | (171) | ||
Total comprehensive income (loss) for the year, net of tax | 7 | 9 | (17) | ||
Attributable to non-controlling interests | 5 | 17 | 20 | ||
Non-current assets | 4,881 | 5,416 | 5,726 | ||
Current assets | 1,982 | 1,227 | 1,493 | ||
Non-current liabilities | (2,478) | (3,156) | (3,660) | ||
Current liabilities | (1,709) | (793) | (855) | ||
Total equity | 2,676 | 2,694 | 2,704 | $ 2,704 | $ 2,754 |
Cash inflow (outflow) from operating activities | 1,047 | 857 | 997 | ||
Cash inflow (outflow) from investing activities | (743) | (335) | (862) | ||
Cash inflow (outflow) from financing activities | (177) | (393) | (148) | ||
Net increase (decrease) in cash and cash equivalents | $ 127 | $ 129 | $ (13) | ||
Cerro Vanguardia S.A. (CVSA) | |||||
Disclosure of subsidiaries [line items] | |||||
Non-controlling interest holding | 7.50% | 7.50% | 7.50% | ||
Profit (loss) allocated to material non-controlling interests | $ 5 | $ 9 | $ 7 | ||
Accumulated balances of material non-controlling interests | 13 | 14 | 13 | ||
Revenue | 390 | 498 | 517 | ||
Profit (loss) for the year | 68 | 119 | 96 | ||
Total comprehensive income (loss) for the year, net of tax | 68 | 119 | 96 | ||
Attributable to non-controlling interests | 5 | 9 | 7 | ||
Dividends paid to non-controlling interests | (7) | (7) | (9) | ||
Non-current assets | 177 | 176 | 193 | ||
Current assets | 202 | 215 | 171 | ||
Non-current liabilities | (120) | (112) | (103) | ||
Current liabilities | (82) | (78) | (84) | ||
Total equity | 177 | 201 | 177 | ||
Cash inflow (outflow) from operating activities | 107 | 179 | 189 | ||
Cash inflow (outflow) from investing activities | (30) | (36) | (55) | ||
Cash inflow (outflow) from financing activities | (47) | (140) | (118) | ||
Net increase (decrease) in cash and cash equivalents | $ 30 | $ 3 | $ 16 | ||
Société AngloGold Ashanti de Guinée S.A. (Siguiri) | |||||
Disclosure of subsidiaries [line items] | |||||
Non-controlling interest holding | 15.00% | 15.00% | 15.00% | ||
Profit (loss) allocated to material non-controlling interests | $ 0 | $ 8 | $ 13 | ||
Accumulated balances of material non-controlling interests | 23 | 32 | 32 | ||
Revenue | 349 | 365 | 489 | ||
Profit (loss) for the year | 1 | 56 | 88 | ||
Total comprehensive income (loss) for the year, net of tax | 1 | 56 | 88 | ||
Attributable to non-controlling interests | 0 | 8 | 13 | ||
Dividends paid to non-controlling interests | (9) | (8) | (10) | ||
Non-current assets | 245 | 257 | 206 | ||
Current assets | 170 | 157 | 189 | ||
Non-current liabilities | (141) | (64) | (101) | ||
Current liabilities | (121) | (137) | (82) | ||
Total equity | 153 | 213 | 212 | ||
Cash inflow (outflow) from operating activities | 46 | 84 | 152 | ||
Cash inflow (outflow) from investing activities | (22) | (96) | (82) | ||
Cash inflow (outflow) from financing activities | (30) | (6) | (58) | ||
Net increase (decrease) in cash and cash equivalents | $ (6) | $ (18) | $ 12 |
Investments in Associates and_3
Investments in Associates and Joint Ventures (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Interests In Other Entities [Abstract] | |||
Investments in associates | $ 40 | $ 36 | $ 36 |
Investments in joint ventures | 1,541 | 1,492 | 1,471 |
Investments in associates and joint ventures | $ 1,581 | $ 1,528 | $ 1,507 |
Investments in Associates and_4
Investments in Associates and Joint Ventures - Interests in Associates (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of associates [line items] | |||
Operating (expenses) income | $ 621 | $ 490 | $ 466 |
Taxation | (250) | (212) | (163) |
Profit (loss) for the year | (7) | 150 | (171) |
Total comprehensive income (loss) for the year, net of tax | 7 | 9 | (17) |
Immaterial associates | |||
Disclosure of associates [line items] | |||
Revenue | 20 | 19 | 21 |
Operating (expenses) income | 3 | (4) | (11) |
Taxation | 0 | (1) | 2 |
Profit (loss) for the year | 23 | 14 | 12 |
Total comprehensive income (loss) for the year, net of tax | $ 23 | $ 14 | $ 12 |
Investments in Associates and_5
Investments in Associates and Joint Ventures - Investments in Joint Ventures (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of joint ventures [line items] | ||||
Investments in joint ventures | $ 1,541 | $ 1,492 | $ 1,471 | |
Statement of profit or loss | ||||
Amortisation of tangible and intangible assets | (583) | (558) | (690) | |
Finance costs and unwinding of obligations | (172) | (168) | (157) | |
Interest received | 14 | 8 | 8 | |
Taxation | (250) | (212) | (163) | |
Profit (loss) for the year | (7) | 150 | (171) | |
Total comprehensive income (loss) for the year, net of tax | 7 | 9 | (17) | |
Statement of financial position | ||||
Non-current assets | 4,881 | 5,416 | 5,726 | |
Cash and cash equivalents | 456 | 329 | 205 | $ 215 |
Total assets | 6,863 | 6,643 | 7,219 | |
Total liabilities | $ 4,187 | $ 3,949 | $ 4,515 | |
Kibali Jersey Limited | ||||
Disclosure of joint ventures [line items] | ||||
Ownership interest in joint venture | 50.00% | |||
Kibali | ||||
Disclosure of joint ventures [line items] | ||||
Ownership interest in joint venture | 45.00% | 45.00% | 45.00% | |
Investments in joint ventures | $ 1,506 | $ 1,439 | $ 1,423 | |
Statement of profit or loss | ||||
Revenue | 1,123 | 1,098 | 755 | |
Other operating costs and expenses | (479) | (539) | (530) | |
Amortisation of tangible and intangible assets | (282) | (330) | (264) | |
Finance costs and unwinding of obligations | (4) | (4) | (5) | |
Interest received | 4 | 3 | 4 | |
Taxation | (62) | (16) | 54 | |
Profit (loss) for the year | 300 | 212 | 14 | |
Total comprehensive income (loss) for the year, net of tax | 300 | 212 | 14 | |
Dividends received from joint venture (attributable) | 75 | 89 | 0 | |
Statement of financial position | ||||
Non-current assets | 2,522 | 2,659 | 2,834 | |
Current assets | 183 | 205 | 166 | |
Cash and cash equivalents | 453 | 124 | 3 | |
Total assets | 3,158 | 2,988 | 3,003 | |
Non-current financial liabilities | 45 | 29 | 41 | |
Other non-current liabilities | 26 | 24 | 23 | |
Current financial liabilities | 11 | 11 | 7 | |
Other current liabilities | 66 | 64 | 107 | |
Total liabilities | 148 | 128 | 178 | |
Net assets | 3,010 | 2,860 | 2,825 | |
Immaterial joint ventures | ||||
Disclosure of joint ventures [line items] | ||||
Investments in joint ventures | 35 | 53 | 48 | |
Statement of profit or loss | ||||
Revenue | 111 | 112 | 113 | |
Other operating costs and expenses | (94) | (92) | (94) | |
Amortisation of tangible and intangible assets | (7) | (15) | (16) | |
Taxation | (7) | (2) | (2) | |
Profit (loss) for the year | 3 | 3 | 1 | |
Total comprehensive income (loss) for the year, net of tax | 3 | 3 | 1 | |
Sadiola | ||||
Disclosure of joint ventures [line items] | ||||
Reversal (impairment) of investments in joint ventures | 6 | 14 | 2 | |
Morila | ||||
Disclosure of joint ventures [line items] | ||||
Cumulative unrecognised share of losses of the joint ventures: | 8 | 8 | 7 | |
Yatela | ||||
Disclosure of joint ventures [line items] | ||||
Cumulative unrecognised share of losses of the joint ventures: | 2 | 3 | 2 | |
Group’s share of net assets | Kibali | ||||
Disclosure of joint ventures [line items] | ||||
Investments in joint ventures | 1,505 | 1,430 | 1,413 | |
Other | Kibali | ||||
Disclosure of joint ventures [line items] | ||||
Investments in joint ventures | $ 1 | $ 9 | $ 10 |
Other Investments (Details)
Other Investments (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of financial assets [line items] | |||
Balance at beginning of year | $ 147 | $ 138 | |
Balance at end of year | 86 | 147 | $ 138 |
Listed investments | Book value of listed investments | |||
Disclosure of financial assets [line items] | |||
Balance at beginning of year | 100 | 84 | |
Balance at end of year | 82 | 100 | 84 |
Non-current investments | |||
Disclosure of financial assets [line items] | |||
Non-current other investments | 76 | 141 | 131 |
Non-current investments | Listed investments | |||
Disclosure of financial assets [line items] | |||
Balance at beginning of year | 82 | 73 | |
Balance at end of year | 72 | 82 | 73 |
Non-current investments | Listed investments | Equity investments at fair value through profit and loss (FVTPL) | |||
Disclosure of financial assets [line items] | |||
Balance at beginning of year | 19 | 26 | |
Additions | 1 | 2 | |
Disposals | (1) | (2) | |
Transfer to non-current assets and liabilities held for sale | (21) | 0 | |
Fair value adjustments | 1 | (3) | |
Translation | 1 | (4) | |
Balance at end of year | 0 | 19 | 26 |
Non-current investments | Listed investments | Equity investments at fair value though OCI (FVTOCI) | |||
Disclosure of financial assets [line items] | |||
Balance at beginning of year | 63 | 47 | |
Additions | 9 | 13 | |
Disposals | 0 | (7) | |
Fair value adjustments | 0 | 10 | |
Balance at end of year | 72 | 63 | 47 |
Non-current investments | Listed investments | Investments at amortised cost | |||
Disclosure of financial assets [line items] | |||
Balance at beginning of year | 12 | 4 | 6 |
Additions | 11 | 15 | 0 |
Disposals | (9) | (6) | (2) |
Transfer to non-current assets and liabilities held for sale | (15) | 0 | 0 |
Translation | 1 | (1) | 0 |
Balance at end of year | 0 | 12 | 4 |
Non-current investments | Unlisted investments | Book value of unlisted investments | |||
Disclosure of financial assets [line items] | |||
Balance at beginning of year | 47 | 54 | 73 |
Additions | 45 | 48 | 81 |
Maturities | (44) | (45) | (73) |
Transfer to non-current assets and liabilities held for sale | (48) | 0 | (32) |
Fair value adjustments | 2 | 0 | 0 |
Other | 0 | (2) | 0 |
Translation | 2 | (8) | 5 |
Balance at end of year | 4 | 47 | 54 |
Non-current investments | Unlisted investments | Book value of unlisted investments | |||
Disclosure of financial assets [line items] | |||
Balance at beginning of year | 47 | 54 | |
Balance at end of year | 4 | 47 | 54 |
Current investments | Listed investments | Equity investments at fair value though OCI (FVTOCI) | |||
Disclosure of financial assets [line items] | |||
Balance at beginning of year | 6 | ||
Balance at end of year | 10 | 6 | |
Current investments | Listed investments | Equity investments at fair value though OCI (FVTOCI) | Sandstorm | |||
Disclosure of financial assets [line items] | |||
Fair value adjustment to investment | 4 | ||
Current investments | Listed investments | Available-for-sale | |||
Disclosure of financial assets [line items] | |||
Balance at beginning of year | 7 | ||
Balance at end of year | 7 | ||
International Tower Hill Mines Limited (ITH) | Non-current investments | Listed investments | |||
Disclosure of financial assets [line items] | |||
Balance at beginning of year | 0 | 7 | |
Balance at end of year | 0 | 0 | 7 |
Corvus Gold Corporation | Non-current investments | Listed investments | |||
Disclosure of financial assets [line items] | |||
Balance at beginning of year | 43 | 25 | |
Balance at end of year | 41 | 43 | 25 |
Various listed investments held by Environmental Rehabilitation Trust Fund | Non-current investments | Listed investments | |||
Disclosure of financial assets [line items] | |||
Balance at beginning of year | 16 | 22 | |
Balance at end of year | 0 | 16 | 22 |
Pure Gold Mining | Non-current investments | Listed investments | |||
Disclosure of financial assets [line items] | |||
Balance at beginning of year | 18 | 11 | |
Balance at end of year | 31 | 18 | 11 |
Negotiable Certificates of Deposit - Environmental Rehabilitation Trust Fund administered by Ashburton Investments | Non-current investments | Unlisted investments | Book value of unlisted investments | |||
Disclosure of financial assets [line items] | |||
Balance at beginning of year | 46 | 53 | |
Balance at end of year | 0 | 46 | 53 |
Other | |||
Disclosure of financial assets [line items] | |||
Balance at beginning of year | 147 | 138 | |
Balance at end of year | 170 | 147 | 138 |
Other | Non-current investments | Listed investments | |||
Disclosure of financial assets [line items] | |||
Balance at beginning of year | 5 | 8 | |
Balance at end of year | 0 | 5 | 8 |
Other | Non-current investments | Unlisted investments | Book value of unlisted investments | |||
Disclosure of financial assets [line items] | |||
Balance at beginning of year | 1 | 1 | |
Balance at end of year | $ 4 | $ 1 | $ 1 |
Inventories (Details)
Inventories (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Non-current | |||
Raw materials - ore stockpiles | $ 93 | $ 106 | $ 100 |
Raw materials | |||
- ore stockpiles | 229 | 251 | 261 |
- heap-leach inventory | 4 | 3 | 5 |
Work in progress | |||
- metals in process | 51 | 44 | 58 |
Finished goods | |||
- gold doré/bullion | 42 | 57 | 59 |
- by-products | 1 | 0 | 5 |
Total metal inventories | 327 | 355 | 388 |
Mine operating supplies | 305 | 297 | 295 |
Current inventories | 632 | 652 | 683 |
Total inventories | 725 | 758 | 783 |
Write-down of inventories | $ 4 | $ 19 | $ 17 |
Trade, other receivables and _3
Trade, other receivables and other assets (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Sep. 04, 2018 | Dec. 31, 2017 |
Non-current | ||||
Prepayments | $ 15 | $ 18 | $ 17 | |
Recoverable tax, rebates, levies and duties | 107 | 84 | 50 | |
Non-current | 122 | 102 | 67 | |
Current | ||||
Trade and loan receivables | 47 | 33 | 27 | |
Prepayments | 61 | 42 | 62 | |
Recoverable tax, rebates, levies and duties | 130 | 116 | 127 | |
Other receivables | 12 | 18 | 6 | |
Current | 250 | 209 | 222 | |
Total trade, other receivables and other assets | 372 | 311 | 289 | |
Disclosure of operating segments [line items] | ||||
Receivables from taxes other than income tax | 227 | 194 | 174 | |
Tanzania | ||||
Disclosure of operating segments [line items] | ||||
Receivables from taxes other than income tax | 119 | 84 | 67 | |
Argentina | CVSA | ||||
Disclosure of operating segments [line items] | ||||
Receivables from taxes other than income tax | 25 | 14 | ||
Taxation cap on annual taxes and duties paid by CVSA, percent | 30.00% | |||
Indirect Tax Increase | Tanzania | ||||
Disclosure of operating segments [line items] | ||||
Receivables from taxes other than income tax | 35 | |||
Set Off Amount Against Other Corporate Taxes | ||||
Disclosure of operating segments [line items] | ||||
Receivables from taxes other than income tax | 9 | |||
Total Claims Since July 2017 | ||||
Disclosure of operating segments [line items] | ||||
Receivables from taxes other than income tax | 134 | |||
Total Claims For 2019 | ||||
Disclosure of operating segments [line items] | ||||
Receivables from taxes other than income tax | 56 | |||
Continental Africa | ||||
Disclosure of operating segments [line items] | ||||
Recoverable value added tax | 167 | 126 | 106 | |
Recoverable fuel duties | 43 | 41 | 38 | |
Appeal deposits | $ 10 | $ 10 | $ 10 |
Cash Restricted for Use (Detail
Cash Restricted for Use (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Restrictions On Cash And Cash Equivalents [Line Items] | |||
Non-current | $ 31 | $ 35 | $ 37 |
Current | 33 | 31 | 28 |
Total cash restricted for use (note 35 and 36) | 64 | 66 | 65 |
Cash restricted by prudential solvency requirements and other | |||
Restrictions On Cash And Cash Equivalents [Line Items] | |||
Current | 27 | 24 | 18 |
Cash balances held by the Tropicana - joint venture | |||
Restrictions On Cash And Cash Equivalents [Line Items] | |||
Current | $ 6 | $ 7 | $ 10 |
Cash And Cash Equivalents (Deta
Cash And Cash Equivalents (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Cash and cash equivalents [abstract] | ||||
Cash and deposits on call | $ 417 | $ 312 | $ 170 | |
Money market instruments | 39 | 17 | 35 | |
Total cash and cash equivalents (note 35 and note 36) | $ 456 | $ 329 | $ 205 | $ 215 |
Share Capital and Premium (Deta
Share Capital and Premium (Details) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019USD ($)shares | Dec. 31, 2018USD ($)shares | Dec. 31, 2017USD ($)shares | Dec. 31, 2019R / shares | |
Disclosure of classes of share capital [line items] | ||||
Share capital | $ 17 | $ 16 | $ 16 | |
Balance at beginning of year | 7,208 | 7,171 | 7,145 | |
Ordinary shares issued - share premium | 27 | 37 | 26 | |
Balance at end of year | 7,235 | 7,208 | 7,171 | |
Redeemable preference shares held within the group | (53) | (53) | (53) | |
Share premium, net of treasury shares | 7,182 | 7,155 | 7,118 | |
Share capital and premium | $ 7,199 | 7,171 | 7,134 | |
Ordinary shares | ||||
Disclosure of classes of share capital [line items] | ||||
Number of shares authorised (in shares) | shares | 600,000,000 | |||
Par value per share (in cents per share) | R / shares | R 0.25 | |||
Series A redeemable preferred shares | ||||
Disclosure of classes of share capital [line items] | ||||
Number of shares authorised (in shares) | shares | 2,000,000 | |||
Par value per share (in cents per share) | R / shares | 0.50 | |||
Number of shares issued and fully paid (in shares) | shares | 2,000,000 | |||
Series B redeemable preferred shares | ||||
Disclosure of classes of share capital [line items] | ||||
Number of shares authorised (in shares) | shares | 5,000,000 | |||
Par value per share (in cents per share) | R / shares | 0.01 | |||
Number of shares issued and fully paid (in shares) | shares | 778,896 | |||
Series C redeemable preferred shares | ||||
Disclosure of classes of share capital [line items] | ||||
Number of shares authorised (in shares) | shares | 30,000,000 | |||
Par value per share (in cents per share) | R / shares | 0 | |||
Authorised | ||||
Disclosure of classes of share capital [line items] | ||||
Share capital | $ 23 | 23 | 23 | |
Authorised | Ordinary shares | ||||
Disclosure of classes of share capital [line items] | ||||
Share capital | 23 | 23 | 23 | |
Authorised | Series A redeemable preferred shares | ||||
Disclosure of classes of share capital [line items] | ||||
Share capital | 0 | 0 | 0 | |
Authorised | Series B redeemable preferred shares | ||||
Disclosure of classes of share capital [line items] | ||||
Share capital | 0 | 0 | 0 | |
Authorised | Series C redeemable preferred shares | ||||
Disclosure of classes of share capital [line items] | ||||
Share capital | 0 | 0 | 0 | |
Issued and fully paid | ||||
Disclosure of classes of share capital [line items] | ||||
Share capital | 17 | 16 | 16 | |
Issued and fully paid | Ordinary shares | ||||
Disclosure of classes of share capital [line items] | ||||
Share capital | $ 17 | $ 16 | $ 16 | |
Par value per share (in cents per share) | R / shares | R 0.25 | |||
Number of shares issued and fully paid (in shares) | shares | 415,301,215 | 412,769,980 | 410,054,615 | |
Issued and fully paid | Series A redeemable preferred shares | ||||
Disclosure of classes of share capital [line items] | ||||
Share capital | $ 0 | $ 0 | $ 0 | |
Issued and fully paid | Series B redeemable preferred shares | ||||
Disclosure of classes of share capital [line items] | ||||
Share capital | 0 | 0 | 0 | |
Treasury shares held within the group | Series A and B redeemable preference shares | ||||
Disclosure of classes of share capital [line items] | ||||
Share capital | $ 0 | $ 0 | $ 0 | |
Treasury shares held within the group (in shares) | shares | 2,778,896 |
Borrowings (Details)
Borrowings (Details) | 1 Months Ended | 12 Months Ended | |||||||||
Feb. 28, 2019USD ($) | Oct. 31, 2018USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2019ZAR (R) | Dec. 31, 2019AUD ($) | Jan. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | |
Disclosure of detailed information about borrowings [line items] | |||||||||||
Finance leases | $ 9,000,000 | $ 15,000,000 | |||||||||
Total borrowings (note 35) | $ 2,033,000,000 | $ 2,050,000,000 | $ 2,268,000,000 | $ 2,033,000,000 | 2,050,000,000 | 2,268,000,000 | |||||
Current portion of borrowings (note 36) | (734,000,000) | (139,000,000) | (38,000,000) | ||||||||
Total non-current borrowings (note 36) | 1,299,000,000 | 1,911,000,000 | 2,230,000,000 | ||||||||
Undrawn facilities | 1,752,000,000 | 1,788,000,000 | 1,515,000,000 | ||||||||
Opening balance | 2,050,000,000 | 2,268,000,000 | 2,178,000,000 | ||||||||
Proceeds from borrowings | 168,000,000 | 753,000,000 | 815,000,000 | ||||||||
Repayment of borrowings | (123,000,000) | (967,000,000) | (767,000,000) | ||||||||
Finance costs paid on borrowings | (122,000,000) | (117,000,000) | (125,000,000) | ||||||||
Deferred loan fees | (7,000,000) | 0 | 0 | ||||||||
Interest charged to the income statement | 127,000,000 | 127,000,000 | 130,000,000 | ||||||||
Reclassification of finance leases to lease liabilities | (60,000,000) | 0 | 0 | ||||||||
Translation | 0 | (14,000,000) | 37,000,000 | ||||||||
Closing balance | 2,033,000,000 | 2,050,000,000 | 2,268,000,000 | ||||||||
Finance costs paid on borrowings | 122,000,000 | 117,000,000 | 125,000,000 | ||||||||
Capitalised finance cost | (6,000,000) | 0 | 0 | ||||||||
Commitment fees, utilisation fees and other borrowing costs | 12,000,000 | 13,000,000 | 13,000,000 | ||||||||
Total finance costs paid | 128,000,000 | 130,000,000 | 138,000,000 | ||||||||
US dollar | |||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||
Total borrowings (note 35) | 1,893,000,000 | 1,896,000,000 | 1,807,000,000 | 1,893,000,000 | 1,896,000,000 | 1,807,000,000 | |||||
Opening balance | 1,896,000,000 | 1,807,000,000 | |||||||||
Closing balance | 1,893,000,000 | 1,896,000,000 | 1,807,000,000 | ||||||||
Australian dollar | |||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||
Total borrowings (note 35) | 21,000,000 | 48,000,000 | 221,000,000 | 21,000,000 | 48,000,000 | 221,000,000 | |||||
Opening balance | 48,000,000 | 221,000,000 | |||||||||
Closing balance | 21,000,000 | 48,000,000 | 221,000,000 | ||||||||
SA rand | |||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||
Total borrowings (note 35) | 72,000,000 | 75,000,000 | 237,000,000 | 72,000,000 | 75,000,000 | 237,000,000 | |||||
Opening balance | 75,000,000 | 237,000,000 | |||||||||
Closing balance | 72,000,000 | 75,000,000 | 237,000,000 | ||||||||
Tanzanian shilling | |||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||
Total borrowings (note 35) | 47,000,000 | 29,000,000 | 0 | 47,000,000 | 29,000,000 | 0 | |||||
Opening balance | 29,000,000 | 0 | |||||||||
Closing balance | 47,000,000 | 29,000,000 | 0 | ||||||||
Brazilian real | |||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||
Total borrowings (note 35) | 0 | 2,000,000 | 3,000,000 | 0 | 2,000,000 | 3,000,000 | |||||
Opening balance | 2,000,000 | 3,000,000 | |||||||||
Closing balance | 0 | 2,000,000 | 3,000,000 | ||||||||
Within one year | |||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||
Total borrowings (note 35) | 734,000,000 | 139,000,000 | 38,000,000 | 734,000,000 | 139,000,000 | 38,000,000 | |||||
Opening balance | 139,000,000 | 38,000,000 | |||||||||
Closing balance | 734,000,000 | 139,000,000 | 38,000,000 | ||||||||
Between one and two years | |||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||
Total borrowings (note 35) | 110,000,000 | 734,000,000 | 219,000,000 | 110,000,000 | 734,000,000 | 219,000,000 | |||||
Opening balance | 734,000,000 | 219,000,000 | |||||||||
Closing balance | 110,000,000 | 734,000,000 | 219,000,000 | ||||||||
Between two and five years | |||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||
Total borrowings (note 35) | 898,000,000 | 860,000,000 | 1,687,000,000 | 898,000,000 | 860,000,000 | 1,687,000,000 | |||||
Opening balance | 860,000,000 | 1,687,000,000 | |||||||||
Closing balance | 898,000,000 | 860,000,000 | 1,687,000,000 | ||||||||
After five years | |||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||
Total borrowings (note 35) | 291,000,000 | 317,000,000 | 324,000,000 | $ 291,000,000 | 317,000,000 | 324,000,000 | |||||
Opening balance | 317,000,000 | 324,000,000 | |||||||||
Closing balance | $ 291,000,000 | $ 317,000,000 | $ 324,000,000 | ||||||||
Rated bonds - issued July 2012 | |||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||
Interest rate | 5.125% | 5.125% | 5.125% | ||||||||
Face amount of facility | $ 750,000,000 | ||||||||||
$700m Rated bonds- issued April 2010 | |||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||
Interest rate | 5.375% | 5.375% | 5.375% | ||||||||
Face amount of facility | $ 700,000,000 | ||||||||||
Term of facility | 10 years | ||||||||||
$300m Rated bonds- issued April 2010 | |||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||
Interest rate | 6.50% | 6.50% | 6.50% | ||||||||
Face amount of facility | $ 300,000,000 | ||||||||||
Term of facility | 30 years | ||||||||||
Syndicated revolving credit facility ($1bn) | |||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||
Undrawn facilities | 0 | 0 | 965,000,000 | ||||||||
Face amount of facility | 1,000,000,000 | ||||||||||
Syndicated revolving credit facility (A$500m) | |||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||
Undrawn facilities | 0 | 0 | 226,000,000 | ||||||||
Face amount of facility | $ 500,000,000 | ||||||||||
Syndicated revolving credit facility (R2.5bn) | |||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||
Undrawn facilities | $ 179,000,000 | 174,000,000 | 146,000,000 | ||||||||
Face amount of facility | R | R 2,500,000,000 | ||||||||||
Syndicated revolving credit facility (R2.5bn) | JIBAR | |||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||
Adjustment to interest rate basis | 1.80% | 1.80% | 1.80% | ||||||||
Syndicated loan facility (R1.4bn) | |||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||
Face amount of facility | R | R 1,400,000,000 | ||||||||||
Syndicated loan facility (R1.4bn) | JIBAR | |||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||
Adjustment to interest rate basis | 1.65% | 1.65% | 1.65% | ||||||||
Syndicated loan facility (R1bn) | |||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||
Undrawn facilities | $ 0 | 35,000,000 | 0 | ||||||||
Face amount of facility | R | R 1,000,000,000 | ||||||||||
Syndicated loan facility (R1bn) | JIBAR | |||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||
Adjustment to interest rate basis | 1.30% | 1.30% | 1.30% | ||||||||
Siguiri revolving credit facilities ($65m) | |||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||
Face amount of facility | $ 65,000,000 | $ 65,000,000 | |||||||||
Term of facility | 3 years | ||||||||||
Siguiri revolving credit facilities ($65m) | LIBOR | |||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||
Adjustment to interest rate basis | 8.00% | 8.00% | 8.00% | 8.00% | |||||||
Revolving credit facility ($150m) | |||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||
Undrawn facilities | $ 40,000,000 | 57,000,000 | 0 | ||||||||
Face amount of facility | 150,000,000 | $ 150,000,000 | |||||||||
Capped amount, Tanzanian Shilling Facility | $ 45,000,000 | ||||||||||
Tanzanian Shilling Components of Unsecured $150m MutiCurrency Facility | |||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||
Interest rate | 12.50% | 12.50% | 12.50% | ||||||||
Capped amount, Tanzanian Shilling Facility | $ 45,000,000 | ||||||||||
US Dollar Components of Unsecured $150m MutiCurrency Facility | LIBOR | |||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||
Adjustment to interest rate basis | 6.70% | 6.70% | 6.70% | 6.70% | |||||||
Other | Average | |||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||
Interest rate | 2.50% | 2.50% | 2.50% | ||||||||
Other | Top of range | |||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||
Interest rate | 4.50% | 4.50% | 4.50% | ||||||||
Multi-currency syndicated revolving credit facility ($1.4bn multi-currency RCF) | |||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||
Undrawn facilities | $ 1,379,000,000 | 1,400,000,000 | 0 | ||||||||
Face amount of facility | $ 1,400,000,000 | $ 1,400,000,000 | |||||||||
Term of facility | 5 years | ||||||||||
Capped amount, Australian dollar Facility | $ 500,000,000 | $ 500,000,000 | |||||||||
Multi-currency syndicated revolving credit facility ($1.4bn multi-currency RCF) | LIBOR | |||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||
Adjustment to interest rate basis | 1.45% | 1.45% | 1.45% | ||||||||
Multi-currency syndicated revolving credit facility ($1.4bn multi-currency RCF) | BBSY | |||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||
Adjustment to interest rate basis | 1.45% | 1.45% | 1.45% | ||||||||
Revolving credit facilities ($100m) | |||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||
Undrawn facilities | $ 0 | 0 | 85,000,000 | ||||||||
Face amount of facility | $ 100,000,000 | ||||||||||
Turbine Square Two (Pty) Limited | |||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||
Finance leases | 9,000,000 | 15,000,000 | |||||||||
Interest rate | 9.80% | 9.80% | 9.80% | ||||||||
Australian Gas Pipeline | |||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||
Finance leases | 48,000,000 | 58,000,000 | |||||||||
Interest rate | 6.75% | 6.75% | 6.75% | ||||||||
Australian Gas Pipeline | Australian Gas Pipeline One | |||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||
Term of facility | 10 years | ||||||||||
Australian Gas Pipeline | Australian Gas Pipeline Two | |||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||
Term of facility | 12 years | ||||||||||
Other | |||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||
Finance leases | 4,000,000 | 5,000,000 | |||||||||
Other | Bottom of range | |||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||
Interest rate | 2.50% | 2.50% | 2.50% | ||||||||
Other | Top of range | |||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||
Interest rate | 14.70% | 14.70% | 14.70% | ||||||||
Syndicated revolving credit facility (R1.4bn) - SA rand | |||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||
Undrawn facilities | $ 100,000,000 | 70,000,000 | 32,000,000 | ||||||||
FirstRand Bank Limited (R750m) - SA rand | |||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||
Undrawn facilities | 54,000,000 | 52,000,000 | 61,000,000 | ||||||||
Face amount of facility | R | R 750,000,000 | ||||||||||
Debt carried at amortised cost | Rated bonds - issued July 2012 | |||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||
Unsecured bonds | 762,000,000 | 761,000,000 | 759,000,000 | ||||||||
Debt carried at amortised cost | Rated bonds - issued April 2010 | |||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||
Unsecured bonds | 1,003,000,000 | 1,002,000,000 | 1,001,000,000 | ||||||||
Debt carried at amortised cost | Syndicated revolving credit facility ($1bn) | |||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||
Unsecured facilities | 0 | 0 | 32,000,000 | ||||||||
Debt carried at amortised cost | Syndicated revolving credit facility (A$500m) | |||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||
Unsecured facilities | 0 | 0 | 163,000,000 | ||||||||
Debt carried at amortised cost | Syndicated revolving credit facility (R2.5bn) | |||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||
Unsecured facilities | 0 | 0 | 56,000,000 | ||||||||
Debt carried at amortised cost | Syndicated loan facility (R1.4bn) | |||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||
Unsecured facilities | 0 | 28,000,000 | 81,000,000 | ||||||||
Debt carried at amortised cost | Syndicated loan facility (R1bn) | |||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||
Unsecured facilities | 72,000,000 | 35,000,000 | 81,000,000 | ||||||||
Debt carried at amortised cost | Siguiri revolving credit facilities ($65m) | |||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||
Unsecured facilities | 67,000,000 | 0 | 0 | ||||||||
Debt carried at amortised cost | Revolving credit facility ($150m) | |||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||
Unsecured facilities | 114,000,000 | 60,000,000 | 0 | ||||||||
Debt carried at amortised cost | Other | |||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||
Unsecured facilities | 0 | 0 | 1,000,000 | ||||||||
Debt carried at amortised cost | Multi-currency syndicated revolving credit facility ($1.4bn multi-currency RCF) | |||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||
Unsecured facilities | 15,000,000 | 0 | 0 | ||||||||
Debt carried at amortised cost | Revolving credit facilities ($100m) | |||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||
Unsecured facilities | $ 0 | $ 103,000,000 | $ 16,000,000 |
Environmental Rehabilitation _3
Environmental Rehabilitation and Other Provisions (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of other provisions [line items] | |||
Environmental rehabilitation and other provisions | $ 697 | $ 827 | $ 942 |
Provision for decommissioning | |||
Disclosure of other provisions [line items] | |||
Beginning balance | 237 | 286 | 279 |
Charge to income statement | 0 | 1 | 2 |
Change in estimates | 29 | (47) | 4 |
Unwinding of obligation | 10 | 12 | 12 |
Transfer to assets and liabilities held for sale | (81) | 0 | (20) |
Utilised during the year | (1) | (1) | (2) |
Translation | 2 | (14) | 11 |
Ending balance | 196 | 237 | 286 |
Provision for restoration | |||
Disclosure of other provisions [line items] | |||
Beginning balance | 385 | 409 | 426 |
Charge to income statement | (1) | 2 | 8 |
Change in estimates | 50 | (28) | (17) |
Unwinding of obligation | 9 | 12 | 10 |
Transfer to assets and liabilities held for sale | (15) | 0 | (3) |
Transfer to current portion | 0 | 0 | (17) |
Utilised during the year | (5) | (3) | (4) |
Translation | 0 | (7) | 6 |
Ending balance | 423 | 385 | 409 |
Other provisions | |||
Disclosure of other provisions [line items] | |||
Beginning balance | 205 | 247 | 172 |
Charge to income statement | 39 | 24 | 17 |
Change in estimates | 27 | 18 | 15 |
Additions | 0 | 0 | 64 |
Unwinding of obligation | 6 | 7 | 1 |
Transfer to assets and liabilities held for sale | (115) | 0 | 0 |
Transfer to trade and other payables | (73) | (26) | (6) |
Utilised during the year | (16) | (35) | (35) |
Translation | 5 | (30) | 19 |
Ending balance | $ 78 | $ 205 | $ 247 |
Environmental Rehabilitation _4
Environmental Rehabilitation and Other Provisions - Provision for Silicosis Settlement (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of other provisions [line items] | |||
Short term silicosis settlement provision | $ 11,000,000 | $ 16,000,000 | $ 0 |
Provision for Silicosis Settlement | |||
Disclosure of other provisions [line items] | |||
Provision for settlement | 54,000,000 | 47,000,000 | 63,000,000 |
Short term silicosis settlement provision | $ 11,000,000 | $ 16,000,000 | $ 0 |
Provision for Pension and Pos_3
Provision for Pension and Post-retirement Benefits (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of defined benefit plans [line items] | |||
Defined benefit plans | $ 100 | $ 100 | $ 122 |
Benefit obligation | |||
Net periodic benefit cost | 9 | 10 | 9 |
2020 | |||
Disclosure of sensitivity analysis for actuarial assumptions [abstract] | |||
Estimated future benefit payments | 9 | ||
2021 | |||
Disclosure of sensitivity analysis for actuarial assumptions [abstract] | |||
Estimated future benefit payments | 9 | ||
2022 | |||
Disclosure of sensitivity analysis for actuarial assumptions [abstract] | |||
Estimated future benefit payments | 9 | ||
2023 | |||
Disclosure of sensitivity analysis for actuarial assumptions [abstract] | |||
Estimated future benefit payments | 9 | ||
2024 | |||
Disclosure of sensitivity analysis for actuarial assumptions [abstract] | |||
Estimated future benefit payments | 10 | ||
Thereafter | |||
Disclosure of sensitivity analysis for actuarial assumptions [abstract] | |||
Estimated future benefit payments | 47 | ||
Post-retirement medical scheme for AngloGold Ashanti's South African employees | |||
Disclosure of defined benefit plans [line items] | |||
Defined benefit plans | 93 | 93 | 114 |
Benefit obligation | |||
Balance at beginning of year | 93 | 115 | 109 |
Interest cost | 8 | 9 | 10 |
Benefits paid | (8) | (10) | (9) |
Actuarial (gain) loss | (2) | (5) | (8) |
Translation | 2 | (16) | 13 |
Balance at end of year | 93 | 93 | 115 |
Net periodic benefit cost | $ 8 | $ 9 | $ 10 |
Disclosure of sensitivity analysis for actuarial assumptions [abstract] | |||
Discount rate | 9.15% | 9.57% | 9.29% |
Expected increase in health care costs | 7.25% | 7.35% | 7.75% |
Health care cost trend assumed for next year | 7.25% | 7.35% | 7.75% |
Rate to which the cost trend is assumed to decline (the ultimate trend rate) | 7.25% | 7.35% | 7.75% |
Estimate of contributions expected to be paid to plan for next annual reporting period | $ 9 | ||
Post-retirement medical scheme for AngloGold Ashanti's South African employees | Health care cost trend rates | |||
Disclosure of sensitivity analysis for actuarial assumptions [abstract] | |||
Percentage of reasonably possible increase in actuarial assumption | 1.00% | ||
Increase (decrease) in total service and interest cost due to reasonably possible increase in actuarial assumption | $ 1 | $ 1 | $ 1 |
Increase (decrease) in defined benefit obligation due to reasonably possible increase in actuarial assumption | $ 7 | 7 | 10 |
Percentage of reasonably possible decrease in actuarial assumption | 1.00% | ||
Increase (decrease) in total service and interest cost due to reasonably possible decrease in actuarial assumption | $ (1) | (1) | (1) |
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption | (6) | (7) | (8) |
Other defined benefit plans | |||
Disclosure of defined benefit plans [line items] | |||
Defined benefit plans | 7 | 7 | 8 |
Classified as held for sale | Post-retirement medical scheme for AngloGold Ashanti's South African employees | |||
Benefit obligation | |||
Less: transfer to non-current assets and liabilities held for sale | 0 | 0 | (1) |
Not classified as held for sale | Post-retirement medical scheme for AngloGold Ashanti's South African employees | |||
Benefit obligation | |||
Balance at beginning of year | 93 | 114 | |
Balance at end of year | $ 93 | $ 93 | $ 114 |
Deferred Taxation (Details)
Deferred Taxation (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liabilities | $ 241,000,000 | $ 315,000,000 | $ 363,000,000 |
Deferred tax assets | 105,000,000 | 0 | 4,000,000 |
Net deferred taxation liability | 136,000,000 | 315,000,000 | 359,000,000 |
Reconciliation of changes in deferred tax liability (asset) [abstract] | |||
Beginning balance | 315,000,000 | 359,000,000 | 492,000,000 |
Taxation of items included in income statement from continuing and discontinued operations | (189,000,000) | (30,000,000) | (68,000,000) |
Taxation on items included in other comprehensive income | (2,000,000) | 5,000,000 | (6,000,000) |
Transfer to non-current assets and liabilities held for sale | 15,000,000 | 0 | (73,000,000) |
Translation | (3,000,000) | (19,000,000) | 14,000,000 |
Closing balance | 136,000,000 | 315,000,000 | 359,000,000 |
Unrecognised taxable temporary differences pertaining to undistributed earnings | 444,000,000 | 413,000,000 | 384,000,000 |
Tangible assets (owned) | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liabilities | 370,000,000 | 521,000,000 | 604,000,000 |
Right-of-use assets | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liabilities | 48,000,000 | ||
Inventories | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liabilities | 24,000,000 | 37,000,000 | 33,000,000 |
Provisions | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 209,000,000 | 218,000,000 | 229,000,000 |
Lease liabilities | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 52,000,000 | ||
Tax losses | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 45,000,000 | 24,000,000 | 60,000,000 |
Other | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liabilities | 9,000,000 | 5,000,000 | 15,000,000 |
Deferred tax assets | 9,000,000 | 6,000,000 | 4,000,000 |
Temporary differences | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liabilities | 451,000,000 | 563,000,000 | 652,000,000 |
Deferred tax assets | $ 315,000,000 | $ 248,000,000 | $ 293,000,000 |
Trade, Other Payables and Pro_3
Trade, Other Payables and Provisions (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Non-current | |||
Other payables | $ 15,000,000 | $ 3,000,000 | $ 3,000,000 |
Current | |||
Trade payables | 363,000,000 | 350,000,000 | 358,000,000 |
Accruals | 167,000,000 | 186,000,000 | 228,000,000 |
Short-term provisions | 53,000,000 | 20,000,000 | 22,000,000 |
Derivatives | 0 | 9,000,000 | 0 |
Other payables | 3,000,000 | 29,000,000 | 30,000,000 |
Total current trade, other payables and deferred income | 586,000,000 | 594,000,000 | 638,000,000 |
Total trade, other payables and provisions | 601,000,000 | 597,000,000 | 641,000,000 |
Short term silicosis settlement provision | $ 11,000,000 | $ 16,000,000 | $ 0 |
Taxation (Details)
Taxation (Details) - USD ($) $ in Millions | 12 Months Ended | |||||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Reconciliation of Current Tax Liability [Roll Forward] | ||||||
Balance at beginning of year | $ 54 | $ 50 | $ 97 | |||
Refunds during the year | 7 | 5 | 14 | |||
Payments during the year | (228) | (171) | (174) | |||
Taxation of items included in the income statement | 298 | 242 | 190 | |||
Offset of VAT and other taxes | (50) | (63) | (78) | |||
Transfer from tax receivable relating to North America | (10) | 0 | 0 | |||
Translation | (9) | (9) | 1 | |||
Balance at end of year | 62 | 54 | 50 | |||
Included in the statement of financial position as follows: | ||||||
Taxation asset included in trade and other receivables | $ (10) | $ (6) | $ (3) | |||
Taxation liability | 72 | 60 | 53 | |||
Current tax liabilities | $ 62 | $ 54 | $ 50 | $ 62 | $ 54 | $ 50 |
Cash Generated From Operation_2
Cash Generated From Operations (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Statement of cash flows [abstract] | |||
Profit (loss) before taxation | $ 619 | $ 445 | $ 328 |
Adjusted for: | |||
Movement on non-hedge derivatives and other commodity contracts | (6) | 6 | 1 |
Amortisation of tangible assets and right of use assets (note 4) | 580 | 553 | 685 |
Finance costs and unwinding of obligations (note 7) | 172 | 168 | 157 |
Environmental, rehabilitation and other expenditure | (6) | (23) | (26) |
Impairment, derecognition of assets and profit (loss) on disposal | 3 | 5 | (1) |
Other expenses (income) | 41 | 28 | 89 |
Amortisation of intangible assets (notes 4) | 3 | 5 | 5 |
Interest income | (14) | (8) | (8) |
Share of associates and joint ventures’ (profit) loss (note 8) | (168) | (122) | (22) |
Other non-cash movements | 43 | (4) | (4) |
Movements in working capital | (165) | (122) | (137) |
Cash generated from operations | 1,102 | 931 | 1,067 |
(Increase) decrease in inventories | (67) | (2) | (67) |
(Increase) decrease in trade, other receivables and other assets | (138) | (74) | (86) |
Increase (decrease) in trade, other payables and deferred income | 40 | (46) | 16 |
Movements in working capital | $ (165) | $ (122) | $ (137) |
Related Parties - Related Party
Related Parties - Related Party Transactions (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of transactions between related parties [line items] | |||
Percentage of shareholders to gain majority for change in control | 35.00% | ||
Associates | |||
Disclosure of transactions between related parties [line items] | |||
Sales and services rendered to related parties | $ 19 | $ 0 | $ 0 |
Purchases and services acquired from related parties | 12 | 19 | 16 |
Outstanding balances arising from sale of goods and services due by related parties | 19 | 19 | 7 |
Joint ventures | |||
Disclosure of transactions between related parties [line items] | |||
Sales and services rendered to related parties | 7 | 10 | 12 |
Purchases and services acquired from related parties | 1 | 0 | 3 |
Outstanding balances arising from sale of goods and services due by related parties | $ 1 | $ 0 | $ 2 |
CEO | |||
Disclosure of transactions between related parties [line items] | |||
Notice Period | 12 months | ||
Change of control | 12 months | ||
CFO | |||
Disclosure of transactions between related parties [line items] | |||
Notice Period | 6 months | ||
Change of control | 6 months | ||
EXCO | |||
Disclosure of transactions between related parties [line items] | |||
Notice Period | 6 months | ||
Change of control | 6 months |
Related Parties - Executive Dir
Related Parties - Executive Directors' and Prescribed Officers' Remuneration (Details) R in Thousands | 12 Months Ended | |||
Dec. 31, 2019USD ($)R / shares | Dec. 31, 2019ZAR (R)R / shares | Dec. 31, 2018USD ($)R / shares | Dec. 31, 2017USD ($)R / shares | |
Disclosure of transactions between related parties [line items] | ||||
Single total figure of remuneration | $ | $ 2,072,500 | $ 2,053,000 | $ 1,748,000 | |
Convenience conversation average exchange rate | R / shares | 14.445 | 14.445 | 13.247 | 13.301 |
Executive Directors | ||||
Disclosure of transactions between related parties [line items] | ||||
Pension scheme benefits | R 5,427 | |||
Once-off relocation costs | 2,726 | |||
Cash in lieu of dividends | 336 | |||
Other benefits | 3,471 | |||
Single total figure of remuneration | $ 11,365,000 | 164,175 | $ 11,117,000 | $ 2,190,000 |
KPM Dushnisky | ||||
Disclosure of transactions between related parties [line items] | ||||
Pension scheme benefits | 4,648 | |||
Once-off relocation costs | 2,726 | |||
Cash in lieu of dividends | 142 | |||
Other benefits | 2,578 | |||
Single total figure of remuneration | 6,268,000 | 90,544 | 7,570,000 | 0 |
KC Ramon | ||||
Disclosure of transactions between related parties [line items] | ||||
Pension scheme benefits | 779 | |||
Once-off relocation costs | 0 | |||
Cash in lieu of dividends | 194 | |||
Other benefits | 893 | |||
Single total figure of remuneration | 5,097,000 | 73,631 | 3,547,000 | 2,190,000 |
Total prescribed officers | ||||
Disclosure of transactions between related parties [line items] | ||||
Pension scheme benefits | 8,802 | |||
Once-off relocation costs | 2,405 | |||
Cash in lieu of dividends | 813 | |||
Other benefits | 10,499 | |||
Single total figure of remuneration | 25,934,000 | 374,615 | 20,855,000 | 11,916,000 |
SD Bailey | ||||
Disclosure of transactions between related parties [line items] | ||||
Pension scheme benefits | 0 | |||
Once-off relocation costs | 0 | |||
Cash in lieu of dividends | 37 | |||
Other benefits | 1,160 | |||
Single total figure of remuneration | 2,190,000 | 31,640 | 0 | 0 |
CE Carter | ||||
Disclosure of transactions between related parties [line items] | ||||
Pension scheme benefits | 5,524 | |||
Once-off relocation costs | 0 | |||
Cash in lieu of dividends | 0 | |||
Other benefits | 2,277 | |||
Single total figure of remuneration | 733,000 | 10,592 | 3,719,000 | 2,322,000 |
PD Chenard | ||||
Disclosure of transactions between related parties [line items] | ||||
Pension scheme benefits | 0 | |||
Once-off relocation costs | 1,270 | |||
Cash in lieu of dividends | 0 | |||
Other benefits | 1,729 | |||
Single total figure of remuneration | 3,292,000 | 47,550 | 0 | 0 |
GJ Ehm | ||||
Disclosure of transactions between related parties [line items] | ||||
Pension scheme benefits | 251 | |||
Once-off relocation costs | 0 | |||
Cash in lieu of dividends | 163 | |||
Other benefits | 611 | |||
Single total figure of remuneration | 4,742,000 | 68,492 | 3,286,000 | 2,096,000 |
L Eybers | ||||
Disclosure of transactions between related parties [line items] | ||||
Pension scheme benefits | 251 | |||
Once-off relocation costs | 1,135 | |||
Cash in lieu of dividends | 64 | |||
Other benefits | 2,310 | |||
Single total figure of remuneration | 4,659,000 | 67,296 | 2,511,000 | 1,680,000 |
DC Noko | ||||
Disclosure of transactions between related parties [line items] | ||||
Pension scheme benefits | 117 | |||
Once-off relocation costs | 0 | |||
Cash in lieu of dividends | 17 | |||
Other benefits | 1,110 | |||
Single total figure of remuneration | 174,000 | 2,509 | 2,846,000 | 1,642,000 |
S Ntuli | ||||
Disclosure of transactions between related parties [line items] | ||||
Pension scheme benefits | 631 | |||
Once-off relocation costs | 0 | |||
Cash in lieu of dividends | 36 | |||
Other benefits | 343 | |||
Single total figure of remuneration | 2,565,000 | 37,055 | 0 | 0 |
ME Sanz Perez | ||||
Disclosure of transactions between related parties [line items] | ||||
Pension scheme benefits | 958 | |||
Once-off relocation costs | 0 | |||
Cash in lieu of dividends | 169 | |||
Other benefits | 68 | |||
Single total figure of remuneration | 3,868,000 | 55,874 | 2,833,000 | 1,637,000 |
CB Sheppard | ||||
Disclosure of transactions between related parties [line items] | ||||
Pension scheme benefits | 160 | |||
Once-off relocation costs | 0 | |||
Cash in lieu of dividends | 169 | |||
Other benefits | 830 | |||
Single total figure of remuneration | 197,000 | 2,846 | 2,961,000 | 1,413,000 |
TR Sibisi | ||||
Disclosure of transactions between related parties [line items] | ||||
Pension scheme benefits | 910 | |||
Once-off relocation costs | 0 | |||
Cash in lieu of dividends | 158 | |||
Other benefits | 61 | |||
Single total figure of remuneration | $ 3,514,000 | 50,761 | $ 2,699,000 | $ 1,126,000 |
ZAR denominated | Executive Directors | ||||
Disclosure of transactions between related parties [line items] | ||||
Base salary | 5,585 | |||
ZAR denominated | KPM Dushnisky | ||||
Disclosure of transactions between related parties [line items] | ||||
Base salary | 0 | |||
ZAR denominated | KC Ramon | ||||
Disclosure of transactions between related parties [line items] | ||||
Base salary | 5,585 | |||
ZAR denominated | Total prescribed officers | ||||
Disclosure of transactions between related parties [line items] | ||||
Base salary | 24,249 | |||
ZAR denominated | SD Bailey | ||||
Disclosure of transactions between related parties [line items] | ||||
Base salary | 3,879 | |||
ZAR denominated | CE Carter | ||||
Disclosure of transactions between related parties [line items] | ||||
Base salary | 0 | |||
ZAR denominated | PD Chenard | ||||
Disclosure of transactions between related parties [line items] | ||||
Base salary | 2,933 | |||
ZAR denominated | GJ Ehm | ||||
Disclosure of transactions between related parties [line items] | ||||
Base salary | 0 | |||
ZAR denominated | L Eybers | ||||
Disclosure of transactions between related parties [line items] | ||||
Base salary | 1,377 | |||
ZAR denominated | DC Noko | ||||
Disclosure of transactions between related parties [line items] | ||||
Base salary | 869 | |||
ZAR denominated | S Ntuli | ||||
Disclosure of transactions between related parties [line items] | ||||
Base salary | 4,607 | |||
ZAR denominated | ME Sanz Perez | ||||
Disclosure of transactions between related parties [line items] | ||||
Base salary | 4,481 | |||
ZAR denominated | CB Sheppard | ||||
Disclosure of transactions between related parties [line items] | ||||
Base salary | 1,159 | |||
ZAR denominated | TR Sibisi | ||||
Disclosure of transactions between related parties [line items] | ||||
Base salary | 4,944 | |||
USD/AUD denominated | Executive Directors | ||||
Disclosure of transactions between related parties [line items] | ||||
Base salary | 22,589 | |||
USD/AUD denominated | KPM Dushnisky | ||||
Disclosure of transactions between related parties [line items] | ||||
Base salary | 18,608 | |||
USD/AUD denominated | KC Ramon | ||||
Disclosure of transactions between related parties [line items] | ||||
Base salary | 3,981 | |||
USD/AUD denominated | Total prescribed officers | ||||
Disclosure of transactions between related parties [line items] | ||||
Base salary | 35,586 | |||
USD/AUD denominated | SD Bailey | ||||
Disclosure of transactions between related parties [line items] | ||||
Base salary | 2,560 | |||
USD/AUD denominated | CE Carter | ||||
Disclosure of transactions between related parties [line items] | ||||
Base salary | 2,791 | |||
USD/AUD denominated | PD Chenard | ||||
Disclosure of transactions between related parties [line items] | ||||
Base salary | 3,900 | |||
USD/AUD denominated | GJ Ehm | ||||
Disclosure of transactions between related parties [line items] | ||||
Base salary | 9,074 | |||
USD/AUD denominated | L Eybers | ||||
Disclosure of transactions between related parties [line items] | ||||
Base salary | 7,945 | |||
USD/AUD denominated | DC Noko | ||||
Disclosure of transactions between related parties [line items] | ||||
Base salary | 396 | |||
USD/AUD denominated | S Ntuli | ||||
Disclosure of transactions between related parties [line items] | ||||
Base salary | 2,871 | |||
USD/AUD denominated | ME Sanz Perez | ||||
Disclosure of transactions between related parties [line items] | ||||
Base salary | 3,184 | |||
USD/AUD denominated | CB Sheppard | ||||
Disclosure of transactions between related parties [line items] | ||||
Base salary | 528 | |||
USD/AUD denominated | TR Sibisi | ||||
Disclosure of transactions between related parties [line items] | ||||
Base salary | R 2,337 | |||
Deferred Share Plan (DSP) | ||||
Disclosure of transactions between related parties [line items] | ||||
Vesting period | 5 years | 5 years | ||
Deferred Share Plan (DSP) | Executive Directors | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | R 90,977 | |||
Deferred Share Plan (DSP) | KPM Dushnisky | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 61,842 | |||
Deferred Share Plan (DSP) | KC Ramon | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 29,135 | |||
Deferred Share Plan (DSP) | Total prescribed officers | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 148,078 | |||
Deferred Share Plan (DSP) | SD Bailey | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 18,087 | |||
Deferred Share Plan (DSP) | CE Carter | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 0 | |||
Deferred Share Plan (DSP) | PD Chenard | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 18,362 | |||
Deferred Share Plan (DSP) | GJ Ehm | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 25,329 | |||
Deferred Share Plan (DSP) | L Eybers | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 25,054 | |||
Deferred Share Plan (DSP) | DC Noko | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 0 | |||
Deferred Share Plan (DSP) | S Ntuli | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 21,041 | |||
Deferred Share Plan (DSP) | ME Sanz Perez | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 20,567 | |||
Deferred Share Plan (DSP) | CB Sheppard | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 0 | |||
Deferred Share Plan (DSP) | TR Sibisi | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | R 19,638 | |||
Co-investment Plan (CIP) | ||||
Disclosure of transactions between related parties [line items] | ||||
Performance period | 3 years | 3 years | ||
Co-investment Plan (CIP) | Executive Directors | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | R 33,064 | |||
Co-investment Plan (CIP) | KPM Dushnisky | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 0 | |||
Co-investment Plan (CIP) | KC Ramon | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 33,064 | |||
Co-investment Plan (CIP) | Total prescribed officers | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 124,827 | |||
Co-investment Plan (CIP) | SD Bailey | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 5,917 | |||
Co-investment Plan (CIP) | CE Carter | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 0 | |||
Co-investment Plan (CIP) | PD Chenard | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 0 | |||
Co-investment Plan (CIP) | GJ Ehm | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 33,064 | |||
Co-investment Plan (CIP) | L Eybers | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 29,160 | |||
Co-investment Plan (CIP) | DC Noko | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 0 | |||
Co-investment Plan (CIP) | S Ntuli | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 7,526 | |||
Co-investment Plan (CIP) | ME Sanz Perez | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 26,447 | |||
Co-investment Plan (CIP) | CB Sheppard | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 0 | |||
Co-investment Plan (CIP) | TR Sibisi | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 22,713 | |||
Share Sign On Incentive | Executive Directors | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 0 | |||
Share Sign On Incentive | KPM Dushnisky | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 0 | |||
Share Sign On Incentive | KC Ramon | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 0 | |||
Share Sign On Incentive | Total prescribed officers | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 19,356 | |||
Share Sign On Incentive | SD Bailey | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 0 | |||
Share Sign On Incentive | CE Carter | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 0 | |||
Share Sign On Incentive | PD Chenard | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 19,356 | |||
Share Sign On Incentive | GJ Ehm | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 0 | |||
Share Sign On Incentive | L Eybers | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 0 | |||
Share Sign On Incentive | DC Noko | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 0 | |||
Share Sign On Incentive | S Ntuli | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 0 | |||
Share Sign On Incentive | ME Sanz Perez | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 0 | |||
Share Sign On Incentive | CB Sheppard | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 0 | |||
Share Sign On Incentive | TR Sibisi | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 0 | |||
Share Sign On Incentive, Cash Settled | PD Chenard | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | R 6,330 | |||
Percentage payable upfront | 50.00% | 50.00% | ||
Share Sign On Incentive, Share Settled | PD Chenard | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | R 13,030 | |||
Vesting period | 2 years | 2 years |
Related Parties - Director And
Related Parties - Director And Other Key Management Personnel (Details) R in Thousands | 12 Months Ended | |||
Dec. 31, 2019USD ($)R / shares | Dec. 31, 2019ZAR (R)R / shares | Dec. 31, 2018USD ($)R / shares | Dec. 31, 2017USD ($)R / shares | |
Disclosure of transactions between related parties [line items] | ||||
Key management personnel compensation | $ | $ 2,072,500 | $ 2,053,000 | $ 1,748,000 | |
Convenience conversation average exchange rate | R / shares | 14.445 | 14.445 | 13.247 | 13.301 |
Executive Directors | ||||
Disclosure of transactions between related parties [line items] | ||||
Key management personnel compensation | $ 11,365,000 | R 164,175 | $ 11,117,000 | $ 2,190,000 |
Total cash equivalent received reconciliation | 9,355,000 | 135,135 | 2,486,000 | 1,515,000 |
KPM Dushnisky | ||||
Disclosure of transactions between related parties [line items] | ||||
Key management personnel compensation | 6,268,000 | 90,544 | 7,570,000 | 0 |
Total cash equivalent received reconciliation | 6,298,000 | 90,972 | 550,000 | 0 |
KC Ramon | ||||
Disclosure of transactions between related parties [line items] | ||||
Key management personnel compensation | 5,097,000 | 73,631 | 3,547,000 | 2,190,000 |
Total cash equivalent received reconciliation | 3,057,000 | 44,163 | 1,936,000 | 1,515,000 |
Total prescribed officers | ||||
Disclosure of transactions between related parties [line items] | ||||
Key management personnel compensation | 25,934,000 | 374,615 | 20,855,000 | 11,916,000 |
Total cash equivalent received reconciliation | 21,113,000 | 304,970 | 9,818,000 | 9,058,000 |
SD Bailey | ||||
Disclosure of transactions between related parties [line items] | ||||
Key management personnel compensation | 2,190,000 | 31,640 | 0 | 0 |
Total cash equivalent received reconciliation | 1,041,000 | 15,038 | 0 | 0 |
CE Carter | ||||
Disclosure of transactions between related parties [line items] | ||||
Key management personnel compensation | 733,000 | 10,592 | 3,719,000 | 2,322,000 |
Total cash equivalent received reconciliation | 3,431,000 | 49,558 | 1,967,000 | 1,907,000 |
PD Chenard | ||||
Disclosure of transactions between related parties [line items] | ||||
Key management personnel compensation | 3,292,000 | 47,550 | 0 | 0 |
Total cash equivalent received reconciliation | 900,000 | 12,997 | 0 | 0 |
GJ Ehm | ||||
Disclosure of transactions between related parties [line items] | ||||
Key management personnel compensation | 4,742,000 | 68,492 | 3,286,000 | 2,096,000 |
Total cash equivalent received reconciliation | 2,536,000 | 36,636 | 1,751,000 | 1,758,000 |
L Eybers | ||||
Disclosure of transactions between related parties [line items] | ||||
Key management personnel compensation | 4,659,000 | 67,296 | 2,511,000 | 1,680,000 |
Total cash equivalent received reconciliation | 2,082,000 | 30,072 | 1,233,000 | 1,101,000 |
DC Noko | ||||
Disclosure of transactions between related parties [line items] | ||||
Key management personnel compensation | 174,000 | 2,509 | 2,846,000 | 1,642,000 |
Total cash equivalent received reconciliation | 2,602,000 | 37,582 | 1,436,000 | 1,381,000 |
S Ntuli | ||||
Disclosure of transactions between related parties [line items] | ||||
Key management personnel compensation | 2,565,000 | 37,055 | 0 | 0 |
Total cash equivalent received reconciliation | 1,160,000 | 16,759 | 0 | 0 |
ME Sanz Perez | ||||
Disclosure of transactions between related parties [line items] | ||||
Key management personnel compensation | 3,868,000 | 55,874 | 2,833,000 | 1,637,000 |
Total cash equivalent received reconciliation | 2,425,000 | 35,023 | 1,399,000 | 1,350,000 |
CB Sheppard | ||||
Disclosure of transactions between related parties [line items] | ||||
Key management personnel compensation | 197,000 | 2,846 | 2,961,000 | 1,413,000 |
Total cash equivalent received reconciliation | 2,687,000 | 38,815 | 1,146,000 | 887,000 |
TR Sibisi | ||||
Disclosure of transactions between related parties [line items] | ||||
Key management personnel compensation | 3,514,000 | 50,761 | 2,699,000 | 1,126,000 |
Total cash equivalent received reconciliation | $ 2,249,000 | 32,490 | $ 886,000 | $ 674,000 |
Deferred share plan, unvested | Executive Directors | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | (90,977) | |||
Deferred share plan, unvested | KPM Dushnisky | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | (61,842) | |||
Deferred share plan, unvested | KC Ramon | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | (29,135) | |||
Deferred share plan, unvested | Total prescribed officers | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | (148,078) | |||
Deferred share plan, unvested | SD Bailey | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | (18,087) | |||
Deferred share plan, unvested | CE Carter | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 0 | |||
Deferred share plan, unvested | PD Chenard | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | (18,362) | |||
Deferred share plan, unvested | GJ Ehm | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | (25,329) | |||
Deferred share plan, unvested | L Eybers | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | (25,054) | |||
Deferred share plan, unvested | DC Noko | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 0 | |||
Deferred share plan, unvested | S Ntuli | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | (21,041) | |||
Deferred share plan, unvested | ME Sanz Perez | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | (20,567) | |||
Deferred share plan, unvested | CB Sheppard | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 0 | |||
Deferred share plan, unvested | TR Sibisi | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | (19,638) | |||
Co-investment Plan (CIP), unvested | Executive Directors | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | (33,064) | |||
Co-investment Plan (CIP), unvested | KPM Dushnisky | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 0 | |||
Co-investment Plan (CIP), unvested | KC Ramon | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | (33,064) | |||
Co-investment Plan (CIP), unvested | Total prescribed officers | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | (124,827) | |||
Co-investment Plan (CIP), unvested | SD Bailey | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | (5,917) | |||
Co-investment Plan (CIP), unvested | CE Carter | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 0 | |||
Co-investment Plan (CIP), unvested | PD Chenard | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 0 | |||
Co-investment Plan (CIP), unvested | GJ Ehm | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | (33,064) | |||
Co-investment Plan (CIP), unvested | L Eybers | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | (29,160) | |||
Co-investment Plan (CIP), unvested | DC Noko | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 0 | |||
Co-investment Plan (CIP), unvested | S Ntuli | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | (7,526) | |||
Co-investment Plan (CIP), unvested | ME Sanz Perez | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | (26,447) | |||
Co-investment Plan (CIP), unvested | CB Sheppard | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 0 | |||
Co-investment Plan (CIP), unvested | TR Sibisi | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | (22,713) | |||
Share Sign On Incentive, unvested | Executive Directors | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 0 | |||
Share Sign On Incentive, unvested | KPM Dushnisky | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 0 | |||
Share Sign On Incentive, unvested | KC Ramon | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 0 | |||
Share Sign On Incentive, unvested | Total prescribed officers | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | (16,191) | |||
Share Sign On Incentive, unvested | SD Bailey | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 0 | |||
Share Sign On Incentive, unvested | CE Carter | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 0 | |||
Share Sign On Incentive, unvested | PD Chenard | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | (16,191) | |||
Share Sign On Incentive, unvested | GJ Ehm | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 0 | |||
Share Sign On Incentive, unvested | L Eybers | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 0 | |||
Share Sign On Incentive, unvested | DC Noko | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 0 | |||
Share Sign On Incentive, unvested | S Ntuli | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 0 | |||
Share Sign On Incentive, unvested | ME Sanz Perez | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 0 | |||
Share Sign On Incentive, unvested | CB Sheppard | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 0 | |||
Share Sign On Incentive, unvested | TR Sibisi | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | R 0 | |||
Deferred Share Plan (DSP) | ||||
Disclosure of transactions between related parties [line items] | ||||
Vesting period | 5 years | 5 years | ||
Deferred Share Plan (DSP) | Executive Directors | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | R (90,977) | |||
Settlement fair value | 15,497 | |||
Deferred Share Plan (DSP) | KPM Dushnisky | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | (61,842) | |||
Settlement fair value | 7,119 | |||
Deferred Share Plan (DSP) | KC Ramon | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | (29,135) | |||
Settlement fair value | 8,378 | |||
Deferred Share Plan (DSP) | Total prescribed officers | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | (148,078) | |||
Settlement fair value | 51,870 | |||
Deferred Share Plan (DSP) | SD Bailey | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | (18,087) | |||
Settlement fair value | 2,613 | |||
Deferred Share Plan (DSP) | CE Carter | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 0 | |||
Settlement fair value | 8,778 | |||
Deferred Share Plan (DSP) | PD Chenard | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | (18,362) | |||
Settlement fair value | 0 | |||
Deferred Share Plan (DSP) | GJ Ehm | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | (25,329) | |||
Settlement fair value | 7,113 | |||
Deferred Share Plan (DSP) | L Eybers | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | (25,054) | |||
Settlement fair value | 6,701 | |||
Deferred Share Plan (DSP) | DC Noko | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 0 | |||
Settlement fair value | 5,851 | |||
Deferred Share Plan (DSP) | S Ntuli | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | (21,041) | |||
Settlement fair value | 3,269 | |||
Deferred Share Plan (DSP) | ME Sanz Perez | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | (20,567) | |||
Settlement fair value | 5,864 | |||
Deferred Share Plan (DSP) | CB Sheppard | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 0 | |||
Settlement fair value | 6,186 | |||
Deferred Share Plan (DSP) | TR Sibisi | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | (19,638) | |||
Settlement fair value | 5,495 | |||
Bonus Share Plan, Co-Investment Plan, And Long Term Incentive Plan | Executive Directors | ||||
Disclosure of transactions between related parties [line items] | ||||
Grant fair value | 21,504 | |||
Market movement since grant date | 2,849 | |||
Vesting fair value | 24,353 | |||
Bonus Share Plan, Co-Investment Plan, And Long Term Incentive Plan | KPM Dushnisky | ||||
Disclosure of transactions between related parties [line items] | ||||
Grant fair value | 0 | |||
Market movement since grant date | 0 | |||
Vesting fair value | 0 | |||
Bonus Share Plan, Co-Investment Plan, And Long Term Incentive Plan | KC Ramon | ||||
Disclosure of transactions between related parties [line items] | ||||
Grant fair value | 21,504 | |||
Market movement since grant date | 2,849 | |||
Vesting fair value | 24,353 | |||
Bonus Share Plan, Co-Investment Plan, And Long Term Incentive Plan | Total prescribed officers | ||||
Disclosure of transactions between related parties [line items] | ||||
Grant fair value | 148,283 | |||
Market movement since grant date | 19,300 | |||
Vesting fair value | 167,581 | |||
Bonus Share Plan, Co-Investment Plan, And Long Term Incentive Plan | SD Bailey | ||||
Disclosure of transactions between related parties [line items] | ||||
Grant fair value | 4,066 | |||
Market movement since grant date | 724 | |||
Vesting fair value | 4,789 | |||
Bonus Share Plan, Co-Investment Plan, And Long Term Incentive Plan | CE Carter | ||||
Disclosure of transactions between related parties [line items] | ||||
Grant fair value | 26,276 | |||
Market movement since grant date | 3,913 | |||
Vesting fair value | 30,188 | |||
Bonus Share Plan, Co-Investment Plan, And Long Term Incentive Plan | PD Chenard | ||||
Disclosure of transactions between related parties [line items] | ||||
Grant fair value | 0 | |||
Market movement since grant date | 0 | |||
Vesting fair value | 0 | |||
Bonus Share Plan, Co-Investment Plan, And Long Term Incentive Plan | GJ Ehm | ||||
Disclosure of transactions between related parties [line items] | ||||
Grant fair value | 19,622 | |||
Market movement since grant date | (198) | |||
Vesting fair value | 19,424 | |||
Bonus Share Plan, Co-Investment Plan, And Long Term Incentive Plan | L Eybers | ||||
Disclosure of transactions between related parties [line items] | ||||
Grant fair value | 7,463 | |||
Market movement since grant date | 2,825 | |||
Vesting fair value | 10,289 | |||
Bonus Share Plan, Co-Investment Plan, And Long Term Incentive Plan | DC Noko | ||||
Disclosure of transactions between related parties [line items] | ||||
Grant fair value | 24,906 | |||
Market movement since grant date | 4,316 | |||
Vesting fair value | 29,222 | |||
Bonus Share Plan, Co-Investment Plan, And Long Term Incentive Plan | S Ntuli | ||||
Disclosure of transactions between related parties [line items] | ||||
Grant fair value | 3,956 | |||
Market movement since grant date | 1,046 | |||
Vesting fair value | 5,002 | |||
Bonus Share Plan, Co-Investment Plan, And Long Term Incentive Plan | ME Sanz Perez | ||||
Disclosure of transactions between related parties [line items] | ||||
Grant fair value | 18,839 | |||
Market movement since grant date | 1,460 | |||
Vesting fair value | 20,299 | |||
Bonus Share Plan, Co-Investment Plan, And Long Term Incentive Plan | CB Sheppard | ||||
Disclosure of transactions between related parties [line items] | ||||
Grant fair value | 25,446 | |||
Market movement since grant date | 4,338 | |||
Vesting fair value | 29,783 | |||
Bonus Share Plan, Co-Investment Plan, And Long Term Incentive Plan | TR Sibisi | ||||
Disclosure of transactions between related parties [line items] | ||||
Grant fair value | 17,709 | |||
Market movement since grant date | 876 | |||
Vesting fair value | 18,585 | |||
Share Sign On Incentive, Cash Settled | Executive Directors | ||||
Disclosure of transactions between related parties [line items] | ||||
Settlement fair value | 16,606 | |||
Grant fair value | 17,616 | |||
Currency movement since grant date | (1,010) | |||
Share Sign On Incentive, Cash Settled | KPM Dushnisky | ||||
Disclosure of transactions between related parties [line items] | ||||
Settlement fair value | 16,606 | |||
Grant fair value | 17,616 | |||
Currency movement since grant date | (1,010) | |||
Share Sign On Incentive, Cash Settled | KC Ramon | ||||
Disclosure of transactions between related parties [line items] | ||||
Settlement fair value | 0 | |||
Grant fair value | 0 | |||
Currency movement since grant date | 0 | |||
Share Sign On Incentive, Cash Settled | Total prescribed officers | ||||
Disclosure of transactions between related parties [line items] | ||||
Settlement fair value | 0 | |||
Grant fair value | 0 | |||
Currency movement since grant date | 0 | |||
Share Sign On Incentive, Cash Settled | SD Bailey | ||||
Disclosure of transactions between related parties [line items] | ||||
Settlement fair value | 0 | |||
Grant fair value | 0 | |||
Currency movement since grant date | 0 | |||
Share Sign On Incentive, Cash Settled | CE Carter | ||||
Disclosure of transactions between related parties [line items] | ||||
Settlement fair value | 0 | |||
Grant fair value | 0 | |||
Currency movement since grant date | 0 | |||
Share Sign On Incentive, Cash Settled | PD Chenard | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | (6,330) | |||
Settlement fair value | 0 | |||
Grant fair value | 0 | |||
Currency movement since grant date | R 0 | |||
Percentage payable upfront | 50.00% | 50.00% | ||
Share Sign On Incentive, Cash Settled | GJ Ehm | ||||
Disclosure of transactions between related parties [line items] | ||||
Settlement fair value | R 0 | |||
Grant fair value | 0 | |||
Currency movement since grant date | 0 | |||
Share Sign On Incentive, Cash Settled | L Eybers | ||||
Disclosure of transactions between related parties [line items] | ||||
Settlement fair value | 0 | |||
Grant fair value | 0 | |||
Currency movement since grant date | 0 | |||
Share Sign On Incentive, Cash Settled | DC Noko | ||||
Disclosure of transactions between related parties [line items] | ||||
Settlement fair value | 0 | |||
Grant fair value | 0 | |||
Currency movement since grant date | 0 | |||
Share Sign On Incentive, Cash Settled | S Ntuli | ||||
Disclosure of transactions between related parties [line items] | ||||
Settlement fair value | 0 | |||
Grant fair value | 0 | |||
Currency movement since grant date | 0 | |||
Share Sign On Incentive, Cash Settled | ME Sanz Perez | ||||
Disclosure of transactions between related parties [line items] | ||||
Settlement fair value | 0 | |||
Grant fair value | 0 | |||
Currency movement since grant date | 0 | |||
Share Sign On Incentive, Cash Settled | CB Sheppard | ||||
Disclosure of transactions between related parties [line items] | ||||
Settlement fair value | 0 | |||
Grant fair value | 0 | |||
Currency movement since grant date | 0 | |||
Share Sign On Incentive, Cash Settled | TR Sibisi | ||||
Disclosure of transactions between related parties [line items] | ||||
Settlement fair value | 0 | |||
Grant fair value | 0 | |||
Currency movement since grant date | 0 | |||
Share Sign On Incentive, Share Settled | Executive Directors | ||||
Disclosure of transactions between related parties [line items] | ||||
Grant fair value | 20,188 | |||
Market movement since grant date | 18,357 | |||
Vesting fair value | 38,545 | |||
Share Sign On Incentive, Share Settled | KPM Dushnisky | ||||
Disclosure of transactions between related parties [line items] | ||||
Grant fair value | 20,188 | |||
Market movement since grant date | 18,357 | |||
Vesting fair value | 38,545 | |||
Share Sign On Incentive, Share Settled | KC Ramon | ||||
Disclosure of transactions between related parties [line items] | ||||
Grant fair value | 0 | |||
Market movement since grant date | 0 | |||
Vesting fair value | 0 | |||
Share Sign On Incentive, Share Settled | Total prescribed officers | ||||
Disclosure of transactions between related parties [line items] | ||||
Grant fair value | 0 | |||
Market movement since grant date | 0 | |||
Vesting fair value | 0 | |||
Share Sign On Incentive, Share Settled | SD Bailey | ||||
Disclosure of transactions between related parties [line items] | ||||
Grant fair value | 0 | |||
Market movement since grant date | 0 | |||
Vesting fair value | 0 | |||
Share Sign On Incentive, Share Settled | CE Carter | ||||
Disclosure of transactions between related parties [line items] | ||||
Grant fair value | 0 | |||
Market movement since grant date | 0 | |||
Vesting fair value | 0 | |||
Share Sign On Incentive, Share Settled | PD Chenard | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | (13,030) | |||
Grant fair value | 0 | |||
Market movement since grant date | 0 | |||
Vesting fair value | R 0 | |||
Vesting period | 2 years | 2 years | ||
Share Sign On Incentive, Share Settled | GJ Ehm | ||||
Disclosure of transactions between related parties [line items] | ||||
Grant fair value | R 0 | |||
Market movement since grant date | 0 | |||
Vesting fair value | 0 | |||
Share Sign On Incentive, Share Settled | L Eybers | ||||
Disclosure of transactions between related parties [line items] | ||||
Grant fair value | 0 | |||
Market movement since grant date | 0 | |||
Vesting fair value | 0 | |||
Share Sign On Incentive, Share Settled | DC Noko | ||||
Disclosure of transactions between related parties [line items] | ||||
Grant fair value | 0 | |||
Market movement since grant date | 0 | |||
Vesting fair value | 0 | |||
Share Sign On Incentive, Share Settled | S Ntuli | ||||
Disclosure of transactions between related parties [line items] | ||||
Grant fair value | 0 | |||
Market movement since grant date | 0 | |||
Vesting fair value | 0 | |||
Share Sign On Incentive, Share Settled | ME Sanz Perez | ||||
Disclosure of transactions between related parties [line items] | ||||
Grant fair value | 0 | |||
Market movement since grant date | 0 | |||
Vesting fair value | 0 | |||
Share Sign On Incentive, Share Settled | CB Sheppard | ||||
Disclosure of transactions between related parties [line items] | ||||
Grant fair value | 0 | |||
Market movement since grant date | 0 | |||
Vesting fair value | 0 | |||
Share Sign On Incentive, Share Settled | TR Sibisi | ||||
Disclosure of transactions between related parties [line items] | ||||
Grant fair value | 0 | |||
Market movement since grant date | 0 | |||
Vesting fair value | R 0 | |||
Co-investment Plan (CIP) | ||||
Disclosure of transactions between related parties [line items] | ||||
Performance period | 3 years | 3 years | ||
Co-investment Plan (CIP) | Executive Directors | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | R (33,064) | |||
Co-investment Plan (CIP) | KPM Dushnisky | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 0 | |||
Co-investment Plan (CIP) | KC Ramon | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | (33,064) | |||
Co-investment Plan (CIP) | Total prescribed officers | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | (124,827) | |||
Co-investment Plan (CIP) | SD Bailey | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | (5,917) | |||
Co-investment Plan (CIP) | CE Carter | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 0 | |||
Co-investment Plan (CIP) | PD Chenard | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 0 | |||
Co-investment Plan (CIP) | GJ Ehm | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | (33,064) | |||
Co-investment Plan (CIP) | L Eybers | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | (29,160) | |||
Co-investment Plan (CIP) | DC Noko | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 0 | |||
Co-investment Plan (CIP) | S Ntuli | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | (7,526) | |||
Co-investment Plan (CIP) | ME Sanz Perez | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | (26,447) | |||
Co-investment Plan (CIP) | CB Sheppard | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 0 | |||
Co-investment Plan (CIP) | TR Sibisi | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | (22,713) | |||
Share Sign On Incentive | Executive Directors | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 0 | |||
Share Sign On Incentive | KPM Dushnisky | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 0 | |||
Share Sign On Incentive | KC Ramon | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 0 | |||
Share Sign On Incentive | Total prescribed officers | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | (19,356) | |||
Share Sign On Incentive | SD Bailey | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 0 | |||
Share Sign On Incentive | CE Carter | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 0 | |||
Share Sign On Incentive | PD Chenard | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | (19,356) | |||
Share Sign On Incentive | GJ Ehm | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 0 | |||
Share Sign On Incentive | L Eybers | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 0 | |||
Share Sign On Incentive | DC Noko | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 0 | |||
Share Sign On Incentive | S Ntuli | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 0 | |||
Share Sign On Incentive | ME Sanz Perez | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 0 | |||
Share Sign On Incentive | CB Sheppard | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | 0 | |||
Share Sign On Incentive | TR Sibisi | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards earned during the period reflected but not yet settled | R 0 |
Related Parties - Directors and
Related Parties - Directors and Key Management Personnel (Details) - ZAR (R) | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2015 | |
Bonus Share Plan (BSP) | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 4,557,919 | 4,479,679 | 4,198,285 | |
Granted (in shares) | 0 | 2,492,584 | 1,926,549 | |
Vested, deemed settled (in shares) | 2,307,439 | 2,055,001 | 1,426,554 | |
Forfeited/ Lapsed (in shares) | 109,065 | 359,343 | 218,601 | |
Awards outstanding at end of year (in shares) | 2,141,415 | 4,557,919 | 4,479,679 | |
Fair value of granted awards | R 119.14 | R 152.87 | ||
Duration of business day volume to calculate weighted average per share price | 5 days | |||
Bonus Share Plan (BSP) | Directors and Key Management Personnel | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 3,002,453 | |||
Granted (in shares) | 0 | |||
Vested, deemed settled (in shares) | 1,960,699 | |||
Forfeited/ Lapsed (in shares) | 95,980 | |||
Awards outstanding at end of year (in shares) | 945,774 | 3,002,453 | ||
Fair value of granted awards | R 0 | |||
Fair value of vested/matched awards | 395,976,000 | |||
Fair value of unvested awards | R 299,338,000 | |||
Bonus Share Plan (BSP) | Executive Directors | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 77,073 | |||
Granted (in shares) | 0 | |||
Vested, deemed settled (in shares) | 49,256 | |||
Forfeited/ Lapsed (in shares) | 0 | |||
Awards outstanding at end of year (in shares) | 27,817 | 77,073 | ||
Fair value of granted awards | R 0 | |||
Fair value of vested/matched awards | 10,034,000 | |||
Fair value of unvested awards | R 8,804,000 | |||
Bonus Share Plan (BSP) | KPM Dushnisky | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 0 | |||
Granted (in shares) | 0 | |||
Vested, deemed settled (in shares) | 0 | |||
Forfeited/ Lapsed (in shares) | 0 | |||
Awards outstanding at end of year (in shares) | 0 | 0 | ||
Fair value of granted awards | R 0 | |||
Fair value of vested/matched awards | 0 | |||
Fair value of unvested awards | R 0 | |||
Bonus Share Plan (BSP) | KC Ramon | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 77,073 | |||
Granted (in shares) | 0 | |||
Vested, deemed settled (in shares) | 49,256 | |||
Forfeited/ Lapsed (in shares) | 0 | |||
Awards outstanding at end of year (in shares) | 27,817 | 77,073 | ||
Fair value of granted awards | R 0 | |||
Fair value of vested/matched awards | 10,034,000 | |||
Fair value of unvested awards | R 8,804,000 | |||
Bonus Share Plan (BSP) | Total prescribed officers | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 442,480 | |||
Granted (in shares) | 0 | |||
Vested, deemed settled (in shares) | 316,081 | |||
Forfeited/ Lapsed (in shares) | 25,394 | |||
Awards outstanding at end of year (in shares) | 101,005 | 442,480 | ||
Fair value of granted awards | R 0 | |||
Fair value of vested/matched awards | 64,236,000 | |||
Fair value of unvested awards | R 31,969,000 | |||
Bonus Share Plan (BSP) | SD Bailey | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 22,549 | |||
Granted (in shares) | 0 | |||
Vested, deemed settled (in shares) | 14,243 | |||
Forfeited/ Lapsed (in shares) | 0 | |||
Awards outstanding at end of year (in shares) | 8,306 | 22,549 | ||
Fair value of granted awards | R 0 | |||
Fair value of vested/matched awards | 2,903,000 | |||
Fair value of unvested awards | R 2,629,000 | |||
Bonus Share Plan (BSP) | CE Carter | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 67,173 | |||
Granted (in shares) | 0 | |||
Vested, deemed settled (in shares) | 58,055 | |||
Forfeited/ Lapsed (in shares) | 9,118 | |||
Awards outstanding at end of year (in shares) | 0 | 67,173 | ||
Fair value of granted awards | R 0 | |||
Fair value of vested/matched awards | 11,664,000 | |||
Fair value of unvested awards | R 0 | |||
Bonus Share Plan (BSP) | PD Chenard | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 0 | |||
Granted (in shares) | 0 | |||
Vested, deemed settled (in shares) | 0 | |||
Forfeited/ Lapsed (in shares) | 0 | |||
Awards outstanding at end of year (in shares) | 0 | 0 | ||
Fair value of granted awards | R 0 | |||
Fair value of vested/matched awards | 0 | |||
Fair value of unvested awards | R 0 | |||
Bonus Share Plan (BSP) | GJ Ehm | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 62,783 | |||
Granted (in shares) | 0 | |||
Vested, deemed settled (in shares) | 39,786 | |||
Forfeited/ Lapsed (in shares) | 0 | |||
Awards outstanding at end of year (in shares) | 22,997 | 62,783 | ||
Fair value of granted awards | R 0 | |||
Fair value of vested/matched awards | 8,109,000 | |||
Fair value of unvested awards | R 7,279,000 | |||
Bonus Share Plan (BSP) | L Eybers | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 53,626 | |||
Granted (in shares) | 0 | |||
Vested, deemed settled (in shares) | 31,338 | |||
Forfeited/ Lapsed (in shares) | 0 | |||
Awards outstanding at end of year (in shares) | 22,288 | 53,626 | ||
Fair value of granted awards | R 0 | |||
Fair value of vested/matched awards | 6,419,000 | |||
Fair value of unvested awards | R 7,054,000 | |||
Bonus Share Plan (BSP) | DC Noko | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 52,531 | |||
Granted (in shares) | 0 | |||
Vested, deemed settled (in shares) | 44,415 | |||
Forfeited/ Lapsed (in shares) | 8,116 | |||
Awards outstanding at end of year (in shares) | 0 | 52,531 | ||
Fair value of granted awards | R 0 | |||
Fair value of vested/matched awards | 9,070,000 | |||
Fair value of unvested awards | R 0 | |||
Bonus Share Plan (BSP) | S Ntuli | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 28,221 | |||
Granted (in shares) | 0 | |||
Vested, deemed settled (in shares) | 17,584 | |||
Forfeited/ Lapsed (in shares) | 0 | |||
Awards outstanding at end of year (in shares) | 10,637 | 28,221 | ||
Fair value of granted awards | R 0 | |||
Fair value of vested/matched awards | 3,587,000 | |||
Fair value of unvested awards | R 3,367,000 | |||
Bonus Share Plan (BSP) | ME Sanz Perez | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 52,842 | |||
Granted (in shares) | 0 | |||
Vested, deemed settled (in shares) | 33,770 | |||
Forfeited/ Lapsed (in shares) | 0 | |||
Awards outstanding at end of year (in shares) | 19,072 | 52,842 | ||
Fair value of granted awards | R 0 | |||
Fair value of vested/matched awards | 6,879,000 | |||
Fair value of unvested awards | R 6,036,000 | |||
Bonus Share Plan (BSP) | CB Sheppard | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 55,534 | |||
Granted (in shares) | 0 | |||
Vested, deemed settled (in shares) | 47,374 | |||
Forfeited/ Lapsed (in shares) | 8,160 | |||
Awards outstanding at end of year (in shares) | 0 | 55,534 | ||
Fair value of granted awards | R 0 | |||
Fair value of vested/matched awards | 9,584,000 | |||
Fair value of unvested awards | R 0 | |||
Bonus Share Plan (BSP) | TR Sibisi | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 47,221 | |||
Granted (in shares) | 0 | |||
Vested, deemed settled (in shares) | 29,516 | |||
Forfeited/ Lapsed (in shares) | 0 | |||
Awards outstanding at end of year (in shares) | 17,705 | 47,221 | ||
Fair value of granted awards | R 0 | |||
Fair value of vested/matched awards | 6,021,000 | |||
Fair value of unvested awards | R 5,604,000 | |||
Bonus Share Plan (BSP) | Other Management | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 2,482,900 | |||
Granted (in shares) | 0 | |||
Vested, deemed settled (in shares) | 1,595,362 | |||
Forfeited/ Lapsed (in shares) | 70,586 | |||
Awards outstanding at end of year (in shares) | 816,952 | 2,482,900 | ||
Fair value of granted awards | R 0 | |||
Fair value of vested/matched awards | 321,706,000 | |||
Fair value of unvested awards | R 258,565,000 | |||
Long Term Incentive Plan (LTIP) | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 447,842 | 2,466,357 | 4,363,330 | |
Vested, deemed settled (in shares) | 218,203 | 832,185 | 384,116 | |
Forfeited/ Lapsed (in shares) | 0 | 1,186,330 | 1,512,857 | |
Awards outstanding at end of year (in shares) | 229,639 | 447,842 | 2,466,357 | |
Fair value of granted awards | R 129.94 | |||
Duration of business day volume to calculate weighted average per share price | 5 days | |||
Long Term Incentive Plan (LTIP) | Directors and Key Management Personnel | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 3,815,761 | |||
Granted (in shares) | 0 | |||
Vested, deemed settled (in shares) | 1,029,438 | |||
Forfeited/ Lapsed (in shares) | 1,305,761 | |||
Awards outstanding at end of year (in shares) | 1,480,562 | 3,815,761 | ||
Fair value of granted awards | R 0 | |||
Fair value of vested/matched awards | 205,169,000 | |||
Fair value of unvested awards | R 468,597,000 | |||
Long Term Incentive Plan (LTIP) | Executive Directors | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 230,595 | |||
Granted (in shares) | 0 | |||
Vested, deemed settled (in shares) | 56,760 | |||
Forfeited/ Lapsed (in shares) | 63,240 | |||
Awards outstanding at end of year (in shares) | 110,595 | 230,595 | ||
Fair value of granted awards | R 0 | |||
Fair value of vested/matched awards | 11,315,000 | |||
Fair value of unvested awards | R 35,003,000 | |||
Long Term Incentive Plan (LTIP) | KPM Dushnisky | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 0 | |||
Granted (in shares) | 0 | |||
Vested, deemed settled (in shares) | 0 | |||
Forfeited/ Lapsed (in shares) | 0 | |||
Awards outstanding at end of year (in shares) | 0 | 0 | ||
Fair value of granted awards | R 0 | |||
Fair value of vested/matched awards | 0 | |||
Fair value of unvested awards | R 0 | |||
Long Term Incentive Plan (LTIP) | KC Ramon | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 230,595 | |||
Granted (in shares) | 0 | |||
Vested, deemed settled (in shares) | 56,760 | |||
Forfeited/ Lapsed (in shares) | 63,240 | |||
Awards outstanding at end of year (in shares) | 110,595 | 230,595 | ||
Fair value of granted awards | R 0 | |||
Fair value of vested/matched awards | 11,315,000 | |||
Fair value of unvested awards | R 35,003,000 | |||
Long Term Incentive Plan (LTIP) | Total prescribed officers | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 1,485,903 | |||
Granted (in shares) | 0 | |||
Vested, deemed settled (in shares) | 461,756 | |||
Forfeited/ Lapsed (in shares) | 606,617 | |||
Awards outstanding at end of year (in shares) | 417,530 | 1,485,903 | ||
Fair value of granted awards | R 0 | |||
Fair value of vested/matched awards | 92,002,000 | |||
Fair value of unvested awards | R 132,148,000 | |||
Long Term Incentive Plan (LTIP) | SD Bailey | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 39,793 | |||
Granted (in shares) | 0 | |||
Vested, deemed settled (in shares) | 9,460 | |||
Forfeited/ Lapsed (in shares) | 10,540 | |||
Awards outstanding at end of year (in shares) | 19,793 | 39,793 | ||
Fair value of granted awards | R 0 | |||
Fair value of vested/matched awards | 1,886,000 | |||
Fair value of unvested awards | R 6,264,000 | |||
Long Term Incentive Plan (LTIP) | CE Carter | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 230,595 | |||
Granted (in shares) | 0 | |||
Vested, deemed settled (in shares) | 93,205 | |||
Forfeited/ Lapsed (in shares) | 137,390 | |||
Awards outstanding at end of year (in shares) | 0 | 230,595 | ||
Fair value of granted awards | R 0 | |||
Fair value of vested/matched awards | 18,349,000 | |||
Fair value of unvested awards | R 0 | |||
Long Term Incentive Plan (LTIP) | PD Chenard | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 0 | |||
Granted (in shares) | 0 | |||
Vested, deemed settled (in shares) | 0 | |||
Awards outstanding at end of year (in shares) | 0 | 0 | ||
Fair value of granted awards | R 0 | |||
Fair value of vested/matched awards | 0 | |||
Fair value of unvested awards | R 0 | |||
Long Term Incentive Plan (LTIP) | GJ Ehm | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 230,595 | |||
Granted (in shares) | 0 | |||
Vested, deemed settled (in shares) | 56,760 | |||
Forfeited/ Lapsed (in shares) | 63,240 | |||
Awards outstanding at end of year (in shares) | 110,595 | 230,595 | ||
Fair value of granted awards | R 0 | |||
Fair value of vested/matched awards | 11,315,000 | |||
Fair value of unvested awards | R 35,003,000 | |||
Long Term Incentive Plan (LTIP) | L Eybers | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 117,535 | |||
Granted (in shares) | 0 | |||
Vested, deemed settled (in shares) | 9,460 | |||
Forfeited/ Lapsed (in shares) | 10,540 | |||
Awards outstanding at end of year (in shares) | 97,535 | 117,535 | ||
Fair value of granted awards | R 0 | |||
Fair value of vested/matched awards | 1,886,000 | |||
Fair value of unvested awards | R 30,870,000 | |||
Long Term Incentive Plan (LTIP) | DC Noko | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 208,850 | |||
Granted (in shares) | 0 | |||
Vested, deemed settled (in shares) | 85,036 | |||
Forfeited/ Lapsed (in shares) | 123,814 | |||
Awards outstanding at end of year (in shares) | 0 | 208,850 | ||
Fair value of granted awards | R 0 | |||
Fair value of vested/matched awards | 17,178,000 | |||
Fair value of unvested awards | R 0 | |||
Long Term Incentive Plan (LTIP) | S Ntuli | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 40,173 | |||
Granted (in shares) | 0 | |||
Vested, deemed settled (in shares) | 7,095 | |||
Forfeited/ Lapsed (in shares) | 7,905 | |||
Awards outstanding at end of year (in shares) | 25,173 | 40,173 | ||
Fair value of granted awards | R 0 | |||
Fair value of vested/matched awards | 1,414,000 | |||
Fair value of unvested awards | R 7,967,000 | |||
Long Term Incentive Plan (LTIP) | ME Sanz Perez | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 208,463 | |||
Granted (in shares) | 0 | |||
Vested, deemed settled (in shares) | 56,760 | |||
Forfeited/ Lapsed (in shares) | 63,240 | |||
Awards outstanding at end of year (in shares) | 88,463 | 208,463 | ||
Fair value of granted awards | R 0 | |||
Fair value of vested/matched awards | 11,315,000 | |||
Fair value of unvested awards | R 27,999,000 | |||
Long Term Incentive Plan (LTIP) | CB Sheppard | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 213,928 | |||
Granted (in shares) | 0 | |||
Vested, deemed settled (in shares) | 87,220 | |||
Forfeited/ Lapsed (in shares) | 126,708 | |||
Awards outstanding at end of year (in shares) | 0 | 213,928 | ||
Fair value of granted awards | R 0 | |||
Fair value of vested/matched awards | 17,344,000 | |||
Fair value of unvested awards | R 0 | |||
Long Term Incentive Plan (LTIP) | TR Sibisi | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 195,971 | |||
Granted (in shares) | 0 | |||
Vested, deemed settled (in shares) | 56,760 | |||
Forfeited/ Lapsed (in shares) | 63,240 | |||
Awards outstanding at end of year (in shares) | 75,971 | 195,971 | ||
Fair value of granted awards | R 0 | |||
Fair value of vested/matched awards | 11,315,000 | |||
Fair value of unvested awards | R 24,045,000 | |||
Long Term Incentive Plan (LTIP) | Other Management | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 2,099,263 | |||
Granted (in shares) | 0 | |||
Vested, deemed settled (in shares) | 510,922 | |||
Forfeited/ Lapsed (in shares) | 635,904 | |||
Awards outstanding at end of year (in shares) | 952,437 | 2,099,263 | ||
Fair value of granted awards | R 0 | |||
Fair value of vested/matched awards | 101,852,000 | |||
Fair value of unvested awards | R 301,446,000 | |||
Co-investment Plan (CIP) | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 112,578 | 95,378 | 97,651 | |
Granted (in shares) | 0 | 80,809 | 112,105 | |
Matched (in shares) | 72,151 | 51,976 | 51,603 | |
Forfeited/ Lapsed (in shares) | 16,500 | 11,633 | 62,775 | |
Awards outstanding at end of year (in shares) | 23,927 | 112,578 | 95,378 | |
Co-investment Plan (CIP) | Directors and Key Management Personnel | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 112,578 | |||
Granted (in shares) | 0 | |||
Matched (in shares) | 72,151 | |||
Forfeited/ Lapsed (in shares) | 16,500 | |||
Awards outstanding at end of year (in shares) | 23,927 | 112,578 | ||
Fair value of granted awards | R 0 | |||
Fair value of vested/matched awards | 14,344,000 | |||
Fair value of unvested awards | R 7,572,000 | |||
Co-investment Plan (CIP) | Executive Directors | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 23,270 | |||
Granted (in shares) | 0 | |||
Matched (in shares) | 14,795 | |||
Forfeited/ Lapsed (in shares) | 0 | |||
Awards outstanding at end of year (in shares) | 8,475 | 23,270 | ||
Fair value of granted awards | R 0 | |||
Fair value of vested/matched awards | 3,004,000 | |||
Fair value of unvested awards | R 2,682,000 | |||
Co-investment Plan (CIP) | KPM Dushnisky | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 0 | |||
Granted (in shares) | 0 | |||
Matched (in shares) | 0 | |||
Forfeited/ Lapsed (in shares) | 0 | |||
Awards outstanding at end of year (in shares) | 0 | 0 | ||
Fair value of granted awards | R 0 | |||
Fair value of vested/matched awards | 0 | |||
Fair value of unvested awards | R 0 | |||
Co-investment Plan (CIP) | KC Ramon | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 23,270 | |||
Granted (in shares) | 0 | |||
Matched (in shares) | 14,795 | |||
Forfeited/ Lapsed (in shares) | 0 | |||
Awards outstanding at end of year (in shares) | 8,475 | 23,270 | ||
Fair value of granted awards | R 0 | |||
Fair value of vested/matched awards | 3,004,000 | |||
Fair value of unvested awards | R 2,682,000 | |||
Co-investment Plan (CIP) | Total prescribed officers | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 89,308 | |||
Granted (in shares) | 0 | |||
Matched (in shares) | 57,356 | |||
Forfeited/ Lapsed (in shares) | 16,500 | |||
Awards outstanding at end of year (in shares) | 15,452 | 89,308 | ||
Fair value of granted awards | R 0 | |||
Fair value of vested/matched awards | 11,340,000 | |||
Fair value of unvested awards | R 4,890,000 | |||
Co-investment Plan (CIP) | SD Bailey | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 0 | |||
Granted (in shares) | 0 | |||
Matched (in shares) | 0 | |||
Forfeited/ Lapsed (in shares) | 0 | |||
Awards outstanding at end of year (in shares) | 0 | 0 | ||
Fair value of granted awards | R 0 | |||
Fair value of vested/matched awards | 0 | |||
Fair value of unvested awards | R 0 | |||
Co-investment Plan (CIP) | CE Carter | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 949 | |||
Granted (in shares) | 0 | |||
Matched (in shares) | 949 | |||
Forfeited/ Lapsed (in shares) | 0 | |||
Awards outstanding at end of year (in shares) | 0 | 949 | ||
Fair value of granted awards | R 0 | |||
Fair value of vested/matched awards | 175,000 | |||
Fair value of unvested awards | R 0 | |||
Co-investment Plan (CIP) | PD Chenard | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 0 | |||
Granted (in shares) | 0 | |||
Matched (in shares) | 0 | |||
Awards outstanding at end of year (in shares) | 0 | 0 | ||
Fair value of granted awards | R 0 | |||
Fair value of vested/matched awards | 0 | |||
Fair value of unvested awards | R 0 | |||
Co-investment Plan (CIP) | GJ Ehm | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 16,500 | |||
Granted (in shares) | 0 | |||
Matched (in shares) | 0 | |||
Forfeited/ Lapsed (in shares) | 16,500 | |||
Awards outstanding at end of year (in shares) | 0 | 16,500 | ||
Fair value of granted awards | R 0 | |||
Fair value of vested/matched awards | 0 | |||
Fair value of unvested awards | R 0 | |||
Co-investment Plan (CIP) | L Eybers | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 16,788 | |||
Granted (in shares) | 0 | |||
Matched (in shares) | 10,198 | |||
Forfeited/ Lapsed (in shares) | 0 | |||
Awards outstanding at end of year (in shares) | 6,590 | 16,788 | ||
Fair value of granted awards | R 0 | |||
Fair value of vested/matched awards | 1,983,000 | |||
Fair value of unvested awards | R 2,086,000 | |||
Co-investment Plan (CIP) | DC Noko | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 15,370 | |||
Granted (in shares) | 0 | |||
Matched (in shares) | 15,370 | |||
Forfeited/ Lapsed (in shares) | 0 | |||
Awards outstanding at end of year (in shares) | 0 | 15,370 | ||
Fair value of granted awards | R 0 | |||
Fair value of vested/matched awards | 2,974,000 | |||
Fair value of unvested awards | R 0 | |||
Co-investment Plan (CIP) | S Ntuli | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 0 | |||
Granted (in shares) | 0 | |||
Matched (in shares) | 0 | |||
Forfeited/ Lapsed (in shares) | 0 | |||
Awards outstanding at end of year (in shares) | 0 | 0 | ||
Fair value of granted awards | R 0 | |||
Fair value of vested/matched awards | 0 | |||
Fair value of unvested awards | R 0 | |||
Co-investment Plan (CIP) | ME Sanz Perez | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 16,039 | |||
Granted (in shares) | 0 | |||
Matched (in shares) | 10,297 | |||
Forfeited/ Lapsed (in shares) | 0 | |||
Awards outstanding at end of year (in shares) | 5,742 | 16,039 | ||
Fair value of granted awards | R 0 | |||
Fair value of vested/matched awards | 2,104,000 | |||
Fair value of unvested awards | R 1,817,000 | |||
Co-investment Plan (CIP) | CB Sheppard | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 14,358 | |||
Granted (in shares) | 0 | |||
Matched (in shares) | 14,358 | |||
Forfeited/ Lapsed (in shares) | 0 | |||
Awards outstanding at end of year (in shares) | 0 | 14,358 | ||
Fair value of granted awards | R 0 | |||
Fair value of vested/matched awards | 2,855,000 | |||
Fair value of unvested awards | R 0 | |||
Co-investment Plan (CIP) | TR Sibisi | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 9,304 | |||
Granted (in shares) | 0 | |||
Matched (in shares) | 6,184 | |||
Forfeited/ Lapsed (in shares) | 0 | |||
Awards outstanding at end of year (in shares) | 3,120 | 9,304 | ||
Fair value of granted awards | R 0 | |||
Fair value of vested/matched awards | 1,249,000 | |||
Fair value of unvested awards | R 987,000 | |||
Co-investment Plan (CIP) | Other Management | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 0 | |||
Granted (in shares) | 0 | |||
Matched (in shares) | 0 | |||
Forfeited/ Lapsed (in shares) | 0 | |||
Awards outstanding at end of year (in shares) | 0 | 0 | ||
Fair value of granted awards | R 0 | |||
Fair value of vested/matched awards | 0 | |||
Fair value of unvested awards | R 0 | |||
Share Sign On Incentive | ||||
Disclosure of transactions between related parties [line items] | ||||
Duration of business day volume to calculate weighted average per share price | 5 days | |||
Share Sign On Incentive | Directors and Key Management Personnel | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 351,755 | |||
Granted (in shares) | 64,951 | |||
Vested, deemed settled (in shares) | 175,877 | |||
Forfeited/ Lapsed (in shares) | 0 | |||
Awards outstanding at end of year (in shares) | 240,829 | 351,755 | ||
Fair value of granted awards | R 13,026,000 | |||
Fair value of vested/matched awards | 38,545,000 | |||
Fair value of unvested awards | R 76,222,000 | |||
Share Sign On Incentive | Executive Directors | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 351,755 | |||
Granted (in shares) | 0 | |||
Vested, deemed settled (in shares) | 175,877 | |||
Forfeited/ Lapsed (in shares) | 0 | |||
Awards outstanding at end of year (in shares) | 175,878 | 351,755 | ||
Fair value of granted awards | R 0 | |||
Fair value of vested/matched awards | 38,545,000 | |||
Fair value of unvested awards | R 55,665,000 | |||
Share Sign On Incentive | KPM Dushnisky | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 351,755 | |||
Granted (in shares) | 0 | |||
Vested, deemed settled (in shares) | 175,877 | |||
Forfeited/ Lapsed (in shares) | 0 | |||
Awards outstanding at end of year (in shares) | 175,878 | 351,755 | ||
Fair value of granted awards | R 0 | |||
Fair value of vested/matched awards | 38,545,000 | |||
Fair value of unvested awards | R 55,665,000 | |||
Share Sign On Incentive | Total prescribed officers | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 0 | |||
Granted (in shares) | 64,951 | |||
Vested, deemed settled (in shares) | 0 | |||
Forfeited/ Lapsed (in shares) | 0 | |||
Awards outstanding at end of year (in shares) | 64,951 | 0 | ||
Fair value of granted awards | R 13,026,000 | |||
Fair value of vested/matched awards | 0 | |||
Fair value of unvested awards | R 20,557,000 | |||
Share Sign On Incentive | PD Chenard | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 0 | |||
Granted (in shares) | 64,951 | |||
Vested, deemed settled (in shares) | 0 | |||
Forfeited/ Lapsed (in shares) | 0 | |||
Awards outstanding at end of year (in shares) | 64,951 | 0 | ||
Fair value of granted awards | R 13,026,000 | |||
Fair value of vested/matched awards | 0 | |||
Fair value of unvested awards | R 20,557,000 | |||
Share Sign On Incentive, Share Settled | PD Chenard | ||||
Disclosure of transactions between related parties [line items] | ||||
Vesting period | 2 years | |||
Deferred Share Plan (DSP) | ||||
Disclosure of transactions between related parties [line items] | ||||
Granted (in shares) | 1,669,191 | |||
Vested, deemed settled (in shares) | 14,623 | |||
Forfeited/ Lapsed (in shares) | 55,208 | |||
Awards outstanding at end of year (in shares) | 1,599,360 | |||
Fair value of granted awards | R 204.42 | |||
Vesting period | 5 years | |||
Deferred Share Plan (DSP) | Directors and Key Management Personnel | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 0 | |||
Granted (in shares) | 1,669,191 | |||
Vested, deemed settled (in shares) | 14,623 | |||
Forfeited/ Lapsed (in shares) | 55,208 | |||
Awards outstanding at end of year (in shares) | 1,599,360 | 0 | ||
Fair value of granted awards | R 341,215,000 | |||
Fair value of vested/matched awards | 4,269,000 | |||
Fair value of unvested awards | R 506,199,000 | |||
Deferred Share Plan (DSP) | Executive Directors | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 0 | |||
Granted (in shares) | 157,524 | |||
Vested, deemed settled (in shares) | 0 | |||
Forfeited/ Lapsed (in shares) | 0 | |||
Awards outstanding at end of year (in shares) | 157,524 | 0 | ||
Fair value of granted awards | R 32,201,000 | |||
Fair value of vested/matched awards | 0 | |||
Fair value of unvested awards | R 49,856,000 | |||
Deferred Share Plan (DSP) | KPM Dushnisky | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 0 | |||
Granted (in shares) | 67,742 | |||
Vested, deemed settled (in shares) | 0 | |||
Forfeited/ Lapsed (in shares) | 0 | |||
Awards outstanding at end of year (in shares) | 67,742 | 0 | ||
Fair value of granted awards | R 13,848,000 | |||
Fair value of vested/matched awards | 0 | |||
Fair value of unvested awards | R 21,440,000 | |||
Deferred Share Plan (DSP) | KC Ramon | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 0 | |||
Granted (in shares) | 89,782 | |||
Vested, deemed settled (in shares) | 0 | |||
Forfeited/ Lapsed (in shares) | 0 | |||
Awards outstanding at end of year (in shares) | 89,782 | 0 | ||
Fair value of granted awards | R 18,353,000 | |||
Fair value of vested/matched awards | 0 | |||
Fair value of unvested awards | R 28,416,000 | |||
Deferred Share Plan (DSP) | Total prescribed officers | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 0 | |||
Granted (in shares) | 571,163 | |||
Vested, deemed settled (in shares) | 0 | |||
Forfeited/ Lapsed (in shares) | 0 | |||
Awards outstanding at end of year (in shares) | 571,163 | 0 | ||
Fair value of granted awards | R 116,756,000 | |||
Fair value of vested/matched awards | 0 | |||
Fair value of unvested awards | R 180,775,000 | |||
Deferred Share Plan (DSP) | SD Bailey | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 0 | |||
Granted (in shares) | 19,196 | |||
Vested, deemed settled (in shares) | 0 | |||
Forfeited/ Lapsed (in shares) | 0 | |||
Awards outstanding at end of year (in shares) | 19,196 | 0 | ||
Fair value of granted awards | R 3,924,000 | |||
Fair value of vested/matched awards | 0 | |||
Fair value of unvested awards | R 6,076,000 | |||
Deferred Share Plan (DSP) | CE Carter | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 0 | |||
Granted (in shares) | 98,451 | |||
Vested, deemed settled (in shares) | 0 | |||
Forfeited/ Lapsed (in shares) | 0 | |||
Awards outstanding at end of year (in shares) | 98,451 | 0 | ||
Fair value of granted awards | R 20,125,000 | |||
Fair value of vested/matched awards | 0 | |||
Fair value of unvested awards | R 31,160,000 | |||
Deferred Share Plan (DSP) | PD Chenard | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 0 | |||
Granted (in shares) | 0 | |||
Vested, deemed settled (in shares) | 0 | |||
Forfeited/ Lapsed (in shares) | 0 | |||
Awards outstanding at end of year (in shares) | 0 | 0 | ||
Fair value of granted awards | R 0 | |||
Fair value of vested/matched awards | 0 | |||
Fair value of unvested awards | R 0 | |||
Deferred Share Plan (DSP) | GJ Ehm | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 0 | |||
Granted (in shares) | 82,037 | |||
Vested, deemed settled (in shares) | 0 | |||
Forfeited/ Lapsed (in shares) | 0 | |||
Awards outstanding at end of year (in shares) | 82,037 | 0 | ||
Fair value of granted awards | R 16,770,000 | |||
Fair value of vested/matched awards | 0 | |||
Fair value of unvested awards | R 25,965,000 | |||
Deferred Share Plan (DSP) | L Eybers | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 0 | |||
Granted (in shares) | 77,380 | |||
Vested, deemed settled (in shares) | 0 | |||
Forfeited/ Lapsed (in shares) | 0 | |||
Awards outstanding at end of year (in shares) | 77,380 | 0 | ||
Fair value of granted awards | R 15,818,000 | |||
Fair value of vested/matched awards | 0 | |||
Fair value of unvested awards | R 24,491,000 | |||
Deferred Share Plan (DSP) | DC Noko | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 0 | |||
Granted (in shares) | 67,548 | |||
Vested, deemed settled (in shares) | 0 | |||
Forfeited/ Lapsed (in shares) | 0 | |||
Awards outstanding at end of year (in shares) | 67,548 | 0 | ||
Fair value of granted awards | R 13,808,000 | |||
Fair value of vested/matched awards | 0 | |||
Fair value of unvested awards | R 21,379,000 | |||
Deferred Share Plan (DSP) | S Ntuli | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 0 | |||
Granted (in shares) | 24,006 | |||
Vested, deemed settled (in shares) | 0 | |||
Forfeited/ Lapsed (in shares) | 0 | |||
Awards outstanding at end of year (in shares) | 24,006 | 0 | ||
Fair value of granted awards | R 4,907,000 | |||
Fair value of vested/matched awards | 0 | |||
Fair value of unvested awards | R 7,598,000 | |||
Deferred Share Plan (DSP) | ME Sanz Perez | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 0 | |||
Granted (in shares) | 67,712 | |||
Vested, deemed settled (in shares) | 0 | |||
Forfeited/ Lapsed (in shares) | 0 | |||
Awards outstanding at end of year (in shares) | 67,712 | 0 | ||
Fair value of granted awards | R 13,842,000 | |||
Fair value of vested/matched awards | 0 | |||
Fair value of unvested awards | R 21,431,000 | |||
Deferred Share Plan (DSP) | CB Sheppard | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 0 | |||
Granted (in shares) | 71,409 | |||
Vested, deemed settled (in shares) | 0 | |||
Forfeited/ Lapsed (in shares) | 0 | |||
Awards outstanding at end of year (in shares) | 71,409 | 0 | ||
Fair value of granted awards | R 14,597,000 | |||
Fair value of vested/matched awards | 0 | |||
Fair value of unvested awards | R 22,601,000 | |||
Deferred Share Plan (DSP) | TR Sibisi | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 0 | |||
Granted (in shares) | 63,424 | |||
Vested, deemed settled (in shares) | 0 | |||
Forfeited/ Lapsed (in shares) | 0 | |||
Awards outstanding at end of year (in shares) | 63,424 | 0 | ||
Fair value of granted awards | R 12,965,000 | |||
Fair value of vested/matched awards | 0 | |||
Fair value of unvested awards | R 20,074,000 | |||
Deferred Share Plan (DSP) | Other Management | ||||
Disclosure of transactions between related parties [line items] | ||||
Awards outstanding at beginning of year (in shares) | 0 | |||
Granted (in shares) | 940,504 | |||
Vested, deemed settled (in shares) | 14,623 | |||
Forfeited/ Lapsed (in shares) | 55,208 | |||
Awards outstanding at end of year (in shares) | 870,673 | 0 | ||
Fair value of granted awards | R 192,258,000 | |||
Fair value of vested/matched awards | 4,269,000 | |||
Fair value of unvested awards | R 275,568,000 |
Related Parties - Non-Executive
Related Parties - Non-Executive Director Remuneration (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of transactions between related parties [line items] | |||
Director fees | $ 1,304,500 | ||
Committee fees | 521,750 | ||
Travel allowance | 246,250 | ||
Single total figure of remuneration | 2,072,500 | $ 2,053,000 | $ 1,748,000 |
SM Pityana (Chairman) | |||
Disclosure of transactions between related parties [line items] | |||
Director fees | 303,000 | ||
Committee fees | 73,750 | ||
Travel allowance | 10,000 | ||
Single total figure of remuneration | 386,750 | 441,000 | 372,000 |
AH Garner | |||
Disclosure of transactions between related parties [line items] | |||
Director fees | 123,500 | ||
Committee fees | 37,000 | ||
Travel allowance | 35,000 | ||
Single total figure of remuneration | 195,500 | 200,000 | 201,000 |
AM Ferguson | |||
Disclosure of transactions between related parties [line items] | |||
Director fees | 123,500 | ||
Committee fees | 50,500 | ||
Travel allowance | 42,500 | ||
Single total figure of remuneration | 216,500 | 52,000 | 0 |
DL Hodgson | |||
Disclosure of transactions between related parties [line items] | |||
Director fees | 33,500 | ||
Committee fees | 13,500 | ||
Travel allowance | 0 | ||
Single total figure of remuneration | 47,000 | 190,000 | 167,000 |
JE Tilk | |||
Disclosure of transactions between related parties [line items] | |||
Director fees | 123,500 | ||
Committee fees | 47,000 | ||
Travel allowance | 60,000 | ||
Single total figure of remuneration | 230,500 | 0 | 0 |
M Ramos | |||
Disclosure of transactions between related parties [line items] | |||
Director fees | 70,000 | ||
Committee fees | 30,500 | ||
Travel allowance | 6,250 | ||
Single total figure of remuneration | 106,750 | 0 | 0 |
MDC Richter | |||
Disclosure of transactions between related parties [line items] | |||
Director fees | 123,500 | ||
Committee fees | 71,750 | ||
Travel allowance | 35,000 | ||
Single total figure of remuneration | 230,250 | 235,000 | 203,000 |
MJ Kirkwood | |||
Disclosure of transactions between related parties [line items] | |||
Director fees | 33,500 | ||
Committee fees | 22,250 | ||
Travel allowance | 6,250 | ||
Single total figure of remuneration | 62,000 | 247,000 | 231,000 |
NP January-Bardill | |||
Disclosure of transactions between related parties [line items] | |||
Director fees | 123,500 | ||
Committee fees | 56,000 | ||
Travel allowance | 6,250 | ||
Single total figure of remuneration | 185,750 | 198,000 | 180,000 |
R Gasant | |||
Disclosure of transactions between related parties [line items] | |||
Director fees | 123,500 | ||
Committee fees | 63,500 | ||
Travel allowance | 6,250 | ||
Single total figure of remuneration | 193,250 | 229,000 | 182,000 |
RJ Ruston | |||
Disclosure of transactions between related parties [line items] | |||
Director fees | 123,500 | ||
Committee fees | 56,000 | ||
Travel allowance | 38,750 | ||
Single total figure of remuneration | $ 218,250 | $ 261,000 | $ 212,000 |
Related Parties - Directors_ an
Related Parties - Directors’ and Prescribed Officers’ interests in AngloGold Ashanti Shares (Details) | Mar. 09, 2020shares | Mar. 03, 2020shares | Mar. 02, 2020shares | Feb. 28, 2020shares | Feb. 27, 2020shares | Feb. 26, 2020shares | Dec. 31, 2019shares | Dec. 31, 2018shares | Dec. 31, 2017shares |
Disclosure of transactions between related parties [line items] | |||||||||
Direct Beneficial Holding | 320,154 | 219,235 | 99,265 | ||||||
Indirect Beneficial Holding | 33,581 | 33,581 | 33,581 | ||||||
Non-Executive Directors | |||||||||
Disclosure of transactions between related parties [line items] | |||||||||
Direct Beneficial Holding | 29,790 | 29,790 | 17,790 | ||||||
Indirect Beneficial Holding | 1,000 | 1,000 | 1,000 | ||||||
SM Pityana (Chairman) | |||||||||
Disclosure of transactions between related parties [line items] | |||||||||
Direct Beneficial Holding | 2,990 | 2,990 | 2,990 | ||||||
Indirect Beneficial Holding | 0 | 0 | 0 | ||||||
MDC Richter | |||||||||
Disclosure of transactions between related parties [line items] | |||||||||
Direct Beneficial Holding | 9,300 | 9,300 | 7,300 | ||||||
Indirect Beneficial Holding | 0 | 0 | 0 | ||||||
AH Garner | |||||||||
Disclosure of transactions between related parties [line items] | |||||||||
Direct Beneficial Holding | 17,500 | 17,500 | 7,500 | ||||||
Indirect Beneficial Holding | 0 | 0 | 0 | ||||||
RJ Ruston | |||||||||
Disclosure of transactions between related parties [line items] | |||||||||
Direct Beneficial Holding | 0 | 0 | 0 | ||||||
Indirect Beneficial Holding | 1,000 | 1,000 | 1,000 | ||||||
Executive Directors | |||||||||
Disclosure of transactions between related parties [line items] | |||||||||
Direct Beneficial Holding | 190,854 | 101,062 | 28,265 | ||||||
Indirect Beneficial Holding | 0 | 0 | 0 | ||||||
KPM Dushnisky | |||||||||
Disclosure of transactions between related parties [line items] | |||||||||
Direct Beneficial Holding | 131,730 | 50,000 | 0 | ||||||
Indirect Beneficial Holding | 0 | 0 | 0 | ||||||
KC Ramon | |||||||||
Disclosure of transactions between related parties [line items] | |||||||||
Direct Beneficial Holding | 59,124 | 51,062 | 28,265 | ||||||
Indirect Beneficial Holding | 0 | 0 | 0 | ||||||
Company Secretary | |||||||||
Disclosure of transactions between related parties [line items] | |||||||||
Direct Beneficial Holding | 31,815 | 26,204 | 13,994 | ||||||
Indirect Beneficial Holding | 16,368 | 16,368 | 16,368 | ||||||
ME Sanz Perez | |||||||||
Disclosure of transactions between related parties [line items] | |||||||||
Direct Beneficial Holding | 31,815 | 26,204 | 13,994 | ||||||
Indirect Beneficial Holding | 16,368 | 16,368 | 16,368 | ||||||
Total Executive Directors and Prescribed Officers | |||||||||
Disclosure of transactions between related parties [line items] | |||||||||
Direct Beneficial Holding | 67,695 | 62,179 | 39,216 | ||||||
Indirect Beneficial Holding | 16,213 | 16,213 | 16,213 | ||||||
SD Bailey | |||||||||
Disclosure of transactions between related parties [line items] | |||||||||
Direct Beneficial Holding | 1,190 | 0 | 0 | ||||||
Indirect Beneficial Holding | 0 | 0 | 0 | ||||||
GJ Ehm | |||||||||
Disclosure of transactions between related parties [line items] | |||||||||
Direct Beneficial Holding | 35,058 | 35,058 | 30,319 | ||||||
Indirect Beneficial Holding | 16,213 | 16,213 | 16,213 | ||||||
L Eybers | |||||||||
Disclosure of transactions between related parties [line items] | |||||||||
Direct Beneficial Holding | 18,164 | 17,207 | 4,812 | ||||||
Indirect Beneficial Holding | 0 | 0 | 0 | ||||||
TR Sibisi | |||||||||
Disclosure of transactions between related parties [line items] | |||||||||
Direct Beneficial Holding | 13,283 | 9,914 | 4,085 | ||||||
Indirect Beneficial Holding | 0 | 0 | 0 | ||||||
Acquisition and Sale of Company Shares by Key Management Personnel | KPM Dushnisky | |||||||||
Disclosure of transactions between related parties [line items] | |||||||||
Beneficial holdings acquired | 87,939 | ||||||||
Beneficial holdings sold | 47,488 | ||||||||
Acquisition and Sale of Company Shares by Key Management Personnel | KC Ramon | |||||||||
Disclosure of transactions between related parties [line items] | |||||||||
Beneficial holdings acquired | 52,234 | 8,475 | |||||||
Beneficial holdings sold | 24,027 | 3,857 | |||||||
Acquisition and Sale of Company Shares by Key Management Personnel | ME Sanz Perez | |||||||||
Disclosure of transactions between related parties [line items] | |||||||||
Beneficial holdings acquired | 41,781 | 5,742 | |||||||
Beneficial holdings sold | 19,219 | 2,613 | |||||||
Acquisition and Sale of Company Shares by Key Management Personnel | SD Bailey | |||||||||
Disclosure of transactions between related parties [line items] | |||||||||
Beneficial holdings acquired | 9,348 | ||||||||
Beneficial holdings sold | 4,300 | ||||||||
Acquisition and Sale of Company Shares by Key Management Personnel | GJ Ehm | |||||||||
Disclosure of transactions between related parties [line items] | |||||||||
Beneficial holdings acquired | 52,234 | ||||||||
Beneficial holdings sold | 24,027 | ||||||||
Acquisition and Sale of Company Shares by Key Management Personnel | L Eybers | |||||||||
Disclosure of transactions between related parties [line items] | |||||||||
Beneficial holdings acquired | 6,590 | 46,065 | |||||||
Beneficial holdings sold | 2,999 | 21,190 | |||||||
Acquisition and Sale of Company Shares by Key Management Personnel | S Ntuli | |||||||||
Disclosure of transactions between related parties [line items] | |||||||||
Beneficial holdings acquired | 11,889 | ||||||||
Beneficial holdings sold | 5,468 | ||||||||
Acquisition and Sale of Company Shares by Key Management Personnel | TR Sibisi | Stock Purchase One | |||||||||
Disclosure of transactions between related parties [line items] | |||||||||
Beneficial holdings acquired | 35,881 | ||||||||
Beneficial holdings sold | 16,505 | ||||||||
Acquisition and Sale of Company Shares by Key Management Personnel | TR Sibisi | Stock Purchase Two | |||||||||
Disclosure of transactions between related parties [line items] | |||||||||
Beneficial holdings acquired | 3,120 | ||||||||
Beneficial holdings sold | 1,420 | ||||||||
American Depository Shares | |||||||||
Disclosure of transactions between related parties [line items] | |||||||||
Number of foreign held shares equal to one company share | 1 | ||||||||
CHESS Depository Shares | |||||||||
Disclosure of transactions between related parties [line items] | |||||||||
Number of foreign held shares equal to one company share | 5 |
Contractual Commitments and C_3
Contractual Commitments and Contingencies - Contractual Commitments (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Capital commitments | |||
Acquisition of tangible assets contracted for | $ 161 | $ 99 | $ 87 |
Acquisition of tangible assets not contracted for | 426 | 792 | 113 |
Capital commitments | 587 | 891 | 200 |
Purchase obligations | 1,085 | 963 | 698 |
Discontinued operations | |||
Capital commitments | |||
Capital commitments | 59 | 90 | 54 |
Purchase obligations | 8 | 25 | 54 |
Within one year | |||
Capital commitments | |||
Purchase obligations | 506 | 305 | 274 |
Thereafter | |||
Capital commitments | |||
Purchase obligations | 579 | 658 | 424 |
Joint ventures | |||
Capital commitments | |||
Capital commitments | 2 | 91 | 21 |
Project capital | |||
Capital commitments | |||
Capital commitments | 450 | 754 | 104 |
Project capital | Within one year | |||
Capital commitments | |||
Capital commitments | 288 | 446 | 104 |
Project capital | Thereafter | |||
Capital commitments | |||
Capital commitments | 162 | 308 | 0 |
Stay-in-business capital | |||
Capital commitments | |||
Capital commitments | 137 | 137 | 96 |
Stay-in-business capital | Within one year | |||
Capital commitments | |||
Capital commitments | 117 | 125 | 84 |
Stay-in-business capital | Thereafter | |||
Capital commitments | |||
Capital commitments | $ 20 | $ 12 | $ 12 |
Contractual Commitments and C_4
Contractual Commitments and Contingencies - Contingencies (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Feb. 20, 2014 |
Disclosure of contingent liabilities [line items] | ||||
Contingent liabilities | $ 97 | $ 97 | $ 97 | |
Litigation | AngloGold Ashanti (Ghana) Limited | ||||
Disclosure of contingent liabilities [line items] | ||||
Contingent liabilities | 97 | 97 | 97 | $ 97 |
Litigation | Newmont Mining Co. Litigation | ||||
Disclosure of contingent liabilities [line items] | ||||
Contingent liabilities | 0 | 0 | 0 | |
Groundwater pollution | Groundwater contamination plumes | ||||
Disclosure of contingent liabilities [line items] | ||||
Contingent liabilities | 0 | 0 | 0 | |
Groundwater pollution | Deep groundwater pollution | ||||
Disclosure of contingent liabilities [line items] | ||||
Contingent liabilities | $ 0 | $ 0 | $ 0 |
Financial Risk Management Act_3
Financial Risk Management Activities - Maturities of Financial Liabilities (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | |||
Trade and other payables | $ 601 | $ 562 | $ 615 |
Gold and oil derivative contracts | 9 | ||
Borrowings | 2,601 | 2,752 | 3,087 |
USD | |||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | |||
Borrowings | 2,437 | 2,549 | 2,527 |
AUD | |||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | |||
Borrowings | 22 | 63 | 253 |
TZS | |||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | |||
Borrowings | 53 | 37 | |
ZAR | |||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | |||
Borrowings | 89 | 103 | 307 |
Within one year | |||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | |||
Trade and other payables | 586 | 562 | 615 |
Gold and oil derivative contracts | 9 | ||
Borrowings | 802 | 133 | 137 |
Within one year | USD | |||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | |||
Borrowings | $ 790 | $ 112 | $ 98 |
Effective rate % | 5.80% | 5.80% | 5.40% |
Within one year | AUD | |||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | |||
Borrowings | $ 0 | $ 7 | $ 16 |
Effective rate % | 2.30% | 6.80% | 5.10% |
Within one year | TZS | |||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | |||
Borrowings | $ 6 | $ 5 | |
Effective rate % | 12.50% | 12.50% | |
Within one year | ZAR | |||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | |||
Borrowings | $ 6 | $ 9 | $ 23 |
Effective rate % | 8.10% | 9.00% | 8.90% |
Between one and two years | |||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | |||
Trade and other payables | $ 15 | $ 0 | $ 0 |
Gold and oil derivative contracts | 0 | ||
Borrowings | 185 | 836 | 343 |
Between one and two years | USD | |||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | |||
Borrowings | $ 132 | $ 790 | $ 145 |
Effective rate % | 6.00% | 5.80% | 5.40% |
Between one and two years | AUD | |||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | |||
Borrowings | $ 0 | $ 7 | $ 174 |
Effective rate % | 2.30% | 6.80% | 5.10% |
Between one and two years | TZS | |||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | |||
Borrowings | $ 47 | $ 3 | |
Effective rate % | 12.50% | 12.50% | |
Between one and two years | ZAR | |||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | |||
Borrowings | $ 6 | $ 36 | $ 24 |
Effective rate % | 8.10% | 9.00% | 8.90% |
Between two and five years | |||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | |||
Trade and other payables | $ 0 | $ 0 | $ 0 |
Gold and oil derivative contracts | 0 | ||
Borrowings | 1,012 | 1,120 | 1,912 |
Between two and five years | USD | |||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | |||
Borrowings | $ 913 | $ 1,025 | $ 1,643 |
Effective rate % | 6.10% | 6.00% | 5.50% |
Between two and five years | AUD | |||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | |||
Borrowings | $ 22 | $ 23 | $ 25 |
Effective rate % | 2.30% | 6.80% | 6.80% |
Between two and five years | TZS | |||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | |||
Borrowings | $ 0 | $ 29 | |
Effective rate % | 0.00% | 12.50% | |
Between two and five years | ZAR | |||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | |||
Borrowings | $ 77 | $ 43 | $ 244 |
Effective rate % | 8.10% | 9.70% | 9.10% |
After five years | |||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | |||
Trade and other payables | $ 0 | $ 0 | $ 0 |
Gold and oil derivative contracts | 0 | ||
Borrowings | 602 | 663 | 695 |
After five years | USD | |||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | |||
Borrowings | $ 602 | $ 622 | $ 641 |
Effective rate % | 6.50% | 6.50% | 6.50% |
After five years | AUD | |||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | |||
Borrowings | $ 0 | $ 26 | $ 38 |
Effective rate % | 0.00% | 6.80% | 6.80% |
After five years | TZS | |||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | |||
Borrowings | $ 0 | $ 0 | |
Effective rate % | 0.00% | 0.00% | |
After five years | ZAR | |||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | |||
Borrowings | $ 0 | $ 15 | $ 16 |
Effective rate % | 0.00% | 14.70% | 15.50% |
Financial Risk Management Act_4
Financial Risk Management Activities - Maturities of Lease Liabilities (Details) $ in Millions | Dec. 31, 2019USD ($) |
Disclosure of maturity analysis of operating lease payments [line items] | |
Lease liabilities | $ 194 |
Within one year | |
Disclosure of maturity analysis of operating lease payments [line items] | |
Lease liabilities | 51 |
Between one and two years | |
Disclosure of maturity analysis of operating lease payments [line items] | |
Lease liabilities | 33 |
Between two and five years | |
Disclosure of maturity analysis of operating lease payments [line items] | |
Lease liabilities | 54 |
After five years | |
Disclosure of maturity analysis of operating lease payments [line items] | |
Lease liabilities | 56 |
USD | |
Disclosure of maturity analysis of operating lease payments [line items] | |
Lease liabilities | 35 |
USD | Within one year | |
Disclosure of maturity analysis of operating lease payments [line items] | |
Lease liabilities | $ 22 |
Effective rate % | 7.00% |
USD | Between one and two years | |
Disclosure of maturity analysis of operating lease payments [line items] | |
Lease liabilities | $ 4 |
Effective rate % | 7.00% |
USD | Between two and five years | |
Disclosure of maturity analysis of operating lease payments [line items] | |
Lease liabilities | $ 8 |
Effective rate % | 7.00% |
USD | After five years | |
Disclosure of maturity analysis of operating lease payments [line items] | |
Lease liabilities | $ 1 |
Effective rate % | 7.00% |
AUD | |
Disclosure of maturity analysis of operating lease payments [line items] | |
Lease liabilities | $ 141 |
AUD | Within one year | |
Disclosure of maturity analysis of operating lease payments [line items] | |
Lease liabilities | $ 22 |
Effective rate % | 3.50% |
AUD | Between one and two years | |
Disclosure of maturity analysis of operating lease payments [line items] | |
Lease liabilities | $ 22 |
Effective rate % | 3.50% |
AUD | Between two and five years | |
Disclosure of maturity analysis of operating lease payments [line items] | |
Lease liabilities | $ 42 |
Effective rate % | 3.50% |
AUD | After five years | |
Disclosure of maturity analysis of operating lease payments [line items] | |
Lease liabilities | $ 55 |
Effective rate % | 3.50% |
BRL | |
Disclosure of maturity analysis of operating lease payments [line items] | |
Lease liabilities | $ 9 |
BRL | Within one year | |
Disclosure of maturity analysis of operating lease payments [line items] | |
Lease liabilities | $ 3 |
Effective rate % | 6.80% |
BRL | Between one and two years | |
Disclosure of maturity analysis of operating lease payments [line items] | |
Lease liabilities | $ 3 |
Effective rate % | 6.80% |
BRL | Between two and five years | |
Disclosure of maturity analysis of operating lease payments [line items] | |
Lease liabilities | $ 3 |
Effective rate % | 6.80% |
BRL | After five years | |
Disclosure of maturity analysis of operating lease payments [line items] | |
Lease liabilities | $ 0 |
Effective rate % | 0.00% |
ZAR | |
Disclosure of maturity analysis of operating lease payments [line items] | |
Lease liabilities | $ 9 |
ZAR | Within one year | |
Disclosure of maturity analysis of operating lease payments [line items] | |
Lease liabilities | $ 4 |
Effective rate % | 9.80% |
ZAR | Between one and two years | |
Disclosure of maturity analysis of operating lease payments [line items] | |
Lease liabilities | $ 4 |
Effective rate % | 9.80% |
ZAR | Between two and five years | |
Disclosure of maturity analysis of operating lease payments [line items] | |
Lease liabilities | $ 1 |
Effective rate % | 9.80% |
ZAR | After five years | |
Disclosure of maturity analysis of operating lease payments [line items] | |
Lease liabilities | $ 0 |
Effective rate % | 0.00% |
Financial Risk Management Act_5
Financial Risk Management Activities - Credit Risk Exposure (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets | $ 86,000,000 | $ 147,000,000 | $ 138,000,000 |
Other investments | |||
Disclosure of detailed information about financial instruments [line items] | |||
Maximum exposure to credit risk | 67,000,000 | 59,000,000 | 58,000,000 |
Financial assets | 170,000,000 | 147,000,000 | 138,000,000 |
Other investments | Financial assets impaired | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets | 1,000,000 | 0 | 3,000,000 |
Trade and other receivables | |||
Disclosure of detailed information about financial instruments [line items] | |||
Maximum exposure to credit risk | 57,000,000 | 41,000,000 | 33,000,000 |
Trade and other receivables | Financial assets past due but not impaired | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets | 15,000,000 | 6,000,000 | 10,000,000 |
Cash restricted for use (note 23) | |||
Disclosure of detailed information about financial instruments [line items] | |||
Maximum exposure to credit risk | 64,000,000 | 66,000,000 | 65,000,000 |
Cash and cash equivalents (note 24) | |||
Disclosure of detailed information about financial instruments [line items] | |||
Maximum exposure to credit risk | 456,000,000 | 329,000,000 | 205,000,000 |
Total financial assets | |||
Disclosure of detailed information about financial instruments [line items] | |||
Maximum exposure to credit risk | $ 644,000,000 | $ 495,000,000 | $ 361,000,000 |
Financial Risk Management Act_6
Financial Risk Management Activities - Fair Value of Financial Instruments (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Financial assets | |||
Carrying amount | $ 86 | $ 147 | $ 138 |
Borrowings | |||
Financial liabilities | |||
Carrying amount | 2,033 | 2,050 | 2,268 |
Fair value | 2,135 | 2,084 | 2,377 |
Other investments | |||
Financial assets | |||
Carrying amount | 170 | 147 | 138 |
Fair value | $ 170 | $ 147 | $ 140 |
Financial Risk Management Act_7
Financial Risk Management Activities - Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of fair value measurement of assets [line items] | |||
Assets | $ 6,863 | $ 6,643 | $ 7,219 |
Equity securities - FVTPL | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 21 | 19 | |
Equity securities - FVTPL | Level 1 | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 21 | 19 | |
Equity securities - FVTPL | Level 2 | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 0 | 0 | |
Equity securities - FVTPL | Level 3 | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 0 | 0 | |
Equity securities - FVTOCI | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 82 | 69 | |
Equity securities - FVTOCI | Level 1 | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 82 | 69 | |
Equity securities - FVTOCI | Level 2 | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 0 | 0 | |
Equity securities - FVTOCI | Level 3 | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | $ 0 | $ 0 | |
Equity securities - available-for-sale | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 80 | ||
Equity securities - available-for-sale | Level 1 | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 80 | ||
Equity securities - available-for-sale | Level 2 | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 0 | ||
Equity securities - available-for-sale | Level 3 | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | $ 0 |
Financial Risk Management Act_8
Financial Risk Management Activities - Environmental Obligations (Details) $ in Thousands, R in Millions, $ in Millions | 72 Months Ended | ||||
Dec. 31, 2019AUD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2019ZAR (R) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | |
Disclosure of other provisions [line items] | |||||
Financial assets | $ 86,000 | $ 147,000 | $ 138,000 | ||
Environmental obligations | Iduapriem | |||||
Disclosure of other provisions [line items] | |||||
Carrying value of liability | 46,300 | ||||
Cash component of bond | 9,990 | ||||
Bond guarantees issued by banks | 36,600 | ||||
Environmental obligations | Obuasi | |||||
Disclosure of other provisions [line items] | |||||
Carrying value of liability | 186,300 | ||||
Cash component of bond | 20,600 | ||||
Bond guarantees issued by banks | 30,000 | ||||
Environmental obligations | Australia | |||||
Disclosure of other provisions [line items] | |||||
Payments to environment fund | $ 6.8 | ||||
Carrying value of liability | $ 137,900 | ||||
Environmental obligations | South Africa | |||||
Disclosure of other provisions [line items] | |||||
Carrying value of liability | R | R 897 | ||||
Bond guarantees issued by banks | R | 549 | ||||
Financial assets | R | R 1,156 |
Financial Risk Management Act_9
Financial Risk Management Activities - Interest Rate Risk (Details) - Interest rate risk Tsh in Millions, R$ in Millions, R in Millions, $ in Millions, $ in Millions | Dec. 31, 2019USD ($) | Dec. 31, 2019ZAR (R) | Dec. 31, 2019AUD ($) | Dec. 31, 2019TZS (Tsh) | Dec. 31, 2018USD ($) | Dec. 31, 2018ZAR (R) | Dec. 31, 2018AUD ($) | Dec. 31, 2018BRL (R$) | Dec. 31, 2018TZS (Tsh) | Dec. 31, 2017USD ($) | Dec. 31, 2017ZAR (R) | Dec. 31, 2017AUD ($) |
Financial assets | USD denominated | ||||||||||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||||||||||
Change in interest rate, basis points | 1.00% | 1.00% | 1.00% | 1.00% | 1.00% | 1.00% | 1.00% | 1.00% | 1.00% | 1.00% | 1.00% | 1.00% |
Change in interest amount due to change in interest rate | $ 1 | $ 1 | $ 1 | |||||||||
Financial assets | AUD denominated | ||||||||||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||||||||||
Change in interest rate, basis points | 1.50% | 1.50% | 1.50% | 1.50% | 1.50% | 1.50% | 1.50% | 1.50% | 1.50% | |||
Change in interest amount due to change in interest rate | $ 1 | $ 1 | $ 1 | $ 1 | ||||||||
Financial assets | ZAR denominated | ||||||||||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||||||||||
Change in interest rate, basis points | 1.50% | 1.50% | 1.50% | |||||||||
Change in interest amount due to change in interest rate | $ 0 | R 2 | ||||||||||
Change in financial assets, basis points | 1.00% | 1.00% | 1.00% | |||||||||
Change in interest amount due to change in financial assets | $ 1 | |||||||||||
Financial assets | BRL denominated | ||||||||||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||||||||||
Change in interest rate, basis points | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | |||||||
Change in interest amount due to change in interest rate | $ 1 | R$ 2 | ||||||||||
Financial liabilities | USD denominated | ||||||||||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||||||||||
Change in interest rate, basis points | 1.00% | 1.00% | 1.00% | 1.00% | 1.00% | 1.00% | 1.00% | 1.00% | 1.00% | |||
Change in interest amount due to change in interest rate | $ 1 | $ 1 | ||||||||||
Financial liabilities | AUD denominated | ||||||||||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||||||||||
Change in interest rate, basis points | 1.00% | 1.00% | 1.00% | |||||||||
Change in interest amount due to change in interest rate | $ 2 | $ 3 | ||||||||||
Financial liabilities | ZAR denominated | ||||||||||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||||||||||
Change in interest rate, basis points | 1.50% | 1.50% | 1.50% | 1.50% | 1.50% | 1.50% | 1.50% | 1.50% | 1.50% | 1.50% | 1.50% | 1.50% |
Change in interest amount due to change in interest rate | $ 1 | R 15 | $ 1 | R 14 | $ 3 | R 41 | ||||||
Financial liabilities | TZS denominated | ||||||||||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||||||||||
Change in interest rate, basis points | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | |||
Change in interest amount due to change in interest rate | $ 1 | Tsh 2,704 | $ 1 | Tsh 1,680 |
Financial Risk Management Ac_10
Financial Risk Management Activities - Foreign Exchange Risk (Details) - Foreign exchange risk - Borrowings $ in Millions | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) |
ZAR denominated | |||
Disclosure of nature and extent of risks arising from financial instruments [line items] | |||
Increase in spot rate | 1.5 | 1.5 | 1.5 |
Change in borrowings total due to increase in spot rate | $ (7) | $ (7) | $ (26) |
Decrease in spot rate | (1.5) | (1.5) | (1.5) |
Change in borrowings total due to decrease in spot rate | $ 9 | $ 9 | $ 33 |
TZS denominated | |||
Disclosure of nature and extent of risks arising from financial instruments [line items] | |||
Increase in spot rate | 250 | 250 | |
Change in borrowings total due to increase in spot rate | $ (5) | $ (3) | |
Decrease in spot rate | (250) | (250) | |
Change in borrowings total due to decrease in spot rate | $ 6 | $ 4 | |
AUD denominated | |||
Disclosure of nature and extent of risks arising from financial instruments [line items] | |||
Increase in spot rate | 0.1 | 0.1 | 0.1 |
Change in borrowings total due to increase in spot rate | $ (1) | $ (3) | $ (16) |
Decrease in spot rate | (0.1) | (0.1) | (0.1) |
Change in borrowings total due to decrease in spot rate | $ 1 | $ 4 | $ 19 |
Capital Management (Details)
Capital Management (Details) | 1 Months Ended | 12 Months Ended | ||||||
Feb. 28, 2019USD ($) | Oct. 31, 2018USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2019ZAR (R) | Dec. 31, 2019AUD ($) | Jan. 31, 2019USD ($) | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of detailed information about borrowings [line items] | ||||||||
Maximum debt covenant ratio allowed per the agreements | 3.5 | 3.5 | 3.5 | 3.5 | 3.5 | |||
Bottom of range | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Leverage ratio allowed under debt agreements | 3.5 | 3.5 | 3.5 | |||||
Top of range | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Leverage ratio allowed under debt agreements | 4.5 | 4.5 | 4.5 | |||||
Geita revolving credit facility ($35m) | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Face amount of facility | $ 35,000,000 | |||||||
Geita revolving credit facility ($115m) | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Face amount of facility | 115,000,000 | |||||||
Revolving credit facility ($150m) | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Face amount of facility | $ 150,000,000 | $ 150,000,000 | ||||||
Capped amount, Tanzanian Shilling Facility | $ 45,000,000 | |||||||
US Dollar Components of Unsecured $150m MutiCurrency Facility | LIBOR | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Adjustment to interest rate basis | 6.70% | 6.70% | 6.70% | 6.70% | ||||
Tanzanian Shilling Components of Unsecured $150m MutiCurrency Facility | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Capped amount, Tanzanian Shilling Facility | $ 45,000,000 | |||||||
Tanzanian Shilling Components of Unsecured $150m MutiCurrency Facility | Lending Agent Reference Rate | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Adjustment to interest rate basis | 5.00% | |||||||
Siguiri revolving credit facilities ($65m) | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Face amount of facility | $ 65,000,000 | $ 65,000,000 | ||||||
Term of facility | 3 years | |||||||
Siguiri revolving credit facilities ($65m) | LIBOR | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Adjustment to interest rate basis | 8.00% | 8.00% | 8.00% | 8.00% | ||||
$750m Rated bonds - issued July 2012 | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Face amount of facility | $ 750,000,000 | |||||||
$700m Rated bonds- issued April 2010 | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Face amount of facility | $ 700,000,000 | |||||||
Term of facility | 10 years | |||||||
$300m Rated bonds- issued April 2010 | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Face amount of facility | $ 300,000,000 | |||||||
Term of facility | 30 years | |||||||
Multi-currency syndicated revolving credit facility ($1.4bn multi-currency RCF) | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Face amount of facility | $ 1,400,000,000 | $ 1,400,000,000 | ||||||
Term of facility | 5 years | |||||||
Capped amount, Australian dollar Facility | $ 500,000,000 | $ 500,000,000 | ||||||
Multi-currency syndicated revolving credit facility ($1.4bn multi-currency RCF) | LIBOR | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Adjustment to interest rate basis | 1.45% | 1.45% | 1.45% | |||||
Syndicated loan facility (R1bn) | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Face amount of facility | R | R 1,000,000,000 | |||||||
Syndicated loan facility (R1.4bn) | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Face amount of facility | R | 1,400,000,000 | |||||||
Syndicated revolving credit facility (R2.5bn) | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Face amount of facility | R | R 2,500,000,000 |
Capital Management - Gearing Ra
Capital Management - Gearing Ratio (Details) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | |
Adjusted net debt from continuing operations | ||||
Borrowings - non-current portion (note 26) | $ 1,299 | $ 1,911 | $ 2,230 | |
Lease liabilities - non-current portion (note 16) | 126 | |||
Borrowings - current portion (note 26) | 734 | 139 | 38 | |
Lease liabilities - current portion (note 16) | 45 | |||
Total borrowings | 2,204 | 2,050 | 2,268 | |
Less cash and cash equivalents (note 24) | (456) | (329) | (205) | $ (215) |
Net debt | 1,748 | 1,721 | 2,063 | |
IFRS16 lease adjustments | (119) | |||
Corporate office lease | (9) | (15) | ||
Unamortised portion of borrowing costs | 16 | 13 | 18 | |
Cash restricted for use (note 23) | (64) | (66) | (65) | |
Adjusted net debt | 1,581 | 1,659 | 2,001 | |
Adjusted EBITDA from continuing operations | ||||
Profit (loss) before taxation | 619 | 445 | 328 | |
Finance costs and unwinding of obligations (note 7) | 172 | 168 | 157 | |
Interest income | (14) | (8) | (8) | |
Amortisation of tangible and intangible assets (note 4) | 583 | 558 | 690 | |
Other amortisation | 6 | 11 | 3 | |
Associates and joint ventures’ adjustments for amortisation, interest, taxation and other | 149 | 158 | 117 | |
EBITDA | 1,515 | 1,332 | 1,287 | |
Foreign exchange losses | 12 | 9 | 11 | |
Dividends income | 0 | (2) | 0 | |
Retrenchment and related costs | 7 | 4 | 9 | |
Care and maintenance costs (note 6) | 47 | 39 | 62 | |
Impairment, derecognition of assets and (profit) loss on disposal | 6 | 7 | 2 | |
(Gain) loss on non-hedge derivatives and other commodity contracts | (5) | 2 | 0 | |
Associates and joint ventures’ special items | (2) | (3) | (2) | |
Adjusted EBITDA (as defined in the Revolving Credit Agreements) | $ 1,580 | $ 1,388 | $ 1,369 | |
Gearing ratio (Net debt to Adjusted EBITDA) | 1 | 1.20 | 1.46 | |
Maximum debt covenant ratio allowed per the agreements | 3.5 | 3.5 | 3.5 |
Subsequent Events (Details)
Subsequent Events (Details) $ / shares in Units, oz in Thousands | Jun. 30, 2020USD ($) | Mar. 27, 2020USD ($)oz | Mar. 18, 2020USD ($) | Feb. 21, 2020$ / shares | Feb. 19, 2019$ / shares | Feb. 19, 2019R / shares | Feb. 20, 2018$ / shares | Feb. 20, 2018R / shares | Feb. 21, 2017$ / shares | Feb. 21, 2017R / shares | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Feb. 21, 2020R / shares | Oct. 31, 2018USD ($) |
Disclosure of non-adjusting events after reporting period [line items] | |||||||||||||||
Dividends declared (in dollars per share) | (per share) | $ 0.07 | R 0.95 | $ 0.06 | R 0.70 | $ 0.1 | R 1.30 | |||||||||
Proceeds from borrowings | $ 168,000,000 | $ 753,000,000 | $ 815,000,000 | ||||||||||||
Cash on hand | 417,000,000 | $ 312,000,000 | $ 170,000,000 | ||||||||||||
Declaration of dividends | |||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||||||||||
Dividends declared (in dollars per share) | $ / shares | $ 1.65 | ||||||||||||||
Foreign exchange rate | 0.11 | 15 | |||||||||||||
Global pandemic | |||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||||||||||
Suspended production, percentage of annual production volume (less than) | 2.00% | ||||||||||||||
Borrowings transactions | |||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||||||||||
Cash on hand | $ 1,800,000,000 | ||||||||||||||
Forecast | South African Assets | Discontinued operations | Agreement to sell assets and related liabilities | |||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||||||||||
Expected proceeds from sale | $ 300,000,000 | ||||||||||||||
Multi-currency syndicated revolving credit facility ($1.4bn multi-currency RCF) | |||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||||||||||
Face amount of facility | 1,400,000,000 | $ 1,400,000,000 | |||||||||||||
Multi-currency syndicated revolving credit facility ($1.4bn multi-currency RCF) | Borrowings transactions | |||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||||||||||
Proceeds from borrowings | $ 450,000,000 | $ 900,000,000 | |||||||||||||
$700m Rated bonds- issued April 2010 | |||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||||||||||
Face amount of facility | $ 700,000,000 | ||||||||||||||
Interest rate | 5.375% | ||||||||||||||
Bottom of range | Global pandemic | |||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||||||||||
Suspended operations, production volume | oz | 30 | ||||||||||||||
Top of range | Global pandemic | |||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||||||||||
Suspended operations, production volume | oz | 40 | ||||||||||||||
Kibali and Sadiola | |||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||||||||||
Cash on hand | $ 300,000,000 |
Supplemental Condensed Consol_3
Supplemental Condensed Consolidating Financial Information (Details) | 12 Months Ended |
Dec. 31, 2019 | |
AngloGold Ashanti Holdings plc (IOMco) | |
Disclosure of subsidiaries [line items] | |
Proportion of ownership interest in subsidiary | 100.00% |
Supplemental Condensed Consol_4
Supplemental Condensed Consolidating Financial Information - Condensed Consolidating Income Statement (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Condensed Income Statement [Line Items] | |||
Revenue from product sales | $ 3,525 | $ 3,336 | $ 3,394 |
Cost of sales | (2,626) | (2,584) | (2,607) |
Gain (loss) on non-hedge derivatives and other commodity contracts | 5 | (2) | 0 |
Gross profit (loss) | 904 | 750 | 787 |
Corporate administration, marketing and other income (expenses) | (82) | (76) | (64) |
Exploration and evaluation costs | (112) | (98) | (105) |
Impairment, derecognition of assets and profit (loss) on disposal | (6) | (7) | (2) |
Other income (expenses) | (83) | (79) | (150) |
Operating profit (loss) | 621 | 490 | 466 |
Interest income | 14 | 8 | 8 |
Dividend received | 0 | 2 | 0 |
Foreign exchange losses | (12) | (9) | (11) |
Finance costs and unwinding of obligations | (172) | (168) | (157) |
Share of associates and joint ventures’ profit (loss) | 168 | 122 | 22 |
Equity gain (loss) in subsidiaries | 0 | 0 | 0 |
Profit (loss) before taxation | 619 | 445 | 328 |
Taxation | (250) | (212) | (163) |
Profit (loss) after taxation from continuing operations | 369 | 233 | 165 |
Discontinued operations | |||
Profit (loss) from discontinued operations | (376) | (83) | (336) |
Profit (loss) after discontinued operations | (171) | ||
Preferred stock dividends | 0 | ||
Profit (loss) for the year | (7) | 150 | (171) |
Equity shareholders | |||
- Continuing operations | 364 | 216 | 145 |
- Discontinued operations | (376) | (83) | (336) |
Non-controlling interests | |||
- Continuing operations | 5 | 17 | 20 |
Comprehensive income (loss) | 7 | 9 | (17) |
Comprehensive (income) loss attributable to non-controlling interests | (5) | (17) | (20) |
Comprehensive income (loss) attributable to AngloGold Ashanti | 378 | 75 | 299 |
Reportable Legal Entities | AngloGold Ashanti (the “Guarantor”) | |||
Condensed Income Statement [Line Items] | |||
Revenue from product sales | 0 | 0 | 0 |
Cost of sales | (1) | (2) | (2) |
Gain (loss) on non-hedge derivatives and other commodity contracts | 0 | 0 | 0 |
Gross profit (loss) | (1) | (2) | (2) |
Corporate administration, marketing and other income (expenses) | (41) | (12) | (7) |
Exploration and evaluation costs | 0 | 0 | (1) |
Impairment, derecognition of assets and profit (loss) on disposal | 0 | 0 | 0 |
Other income (expenses) | (10) | (10) | (71) |
Operating profit (loss) | (52) | (24) | (81) |
Interest income | 3 | 0 | 1 |
Dividend received | 2 | ||
Foreign exchange losses | 0 | 0 | 0 |
Finance costs and unwinding of obligations | (16) | (16) | (14) |
Share of associates and joint ventures’ profit (loss) | 0 | 5 | 13 |
Equity gain (loss) in subsidiaries | 302 | 142 | 212 |
Profit (loss) before taxation | 237 | 109 | 131 |
Taxation | 32 | 23 | 32 |
Profit (loss) after taxation from continuing operations | 269 | 132 | 163 |
Discontinued operations | |||
Profit (loss) from discontinued operations | (281) | 1 | (324) |
Profit (loss) after discontinued operations | (161) | ||
Preferred stock dividends | (30) | ||
Profit (loss) for the year | (12) | 133 | (191) |
Equity shareholders | |||
- Continuing operations | 269 | 132 | 133 |
- Discontinued operations | (281) | 1 | (324) |
Non-controlling interests | |||
- Continuing operations | 0 | 0 | 0 |
Comprehensive income (loss) | 2 | (8) | (37) |
Comprehensive (income) loss attributable to non-controlling interests | 0 | 0 | 0 |
Reportable Legal Entities | IOMco (the “Issuer”) | |||
Condensed Income Statement [Line Items] | |||
Revenue from product sales | 0 | 0 | 0 |
Cost of sales | 0 | 0 | 0 |
Gain (loss) on non-hedge derivatives and other commodity contracts | 0 | 0 | 0 |
Gross profit (loss) | 0 | 0 | 0 |
Corporate administration, marketing and other income (expenses) | (6) | (20) | (7) |
Exploration and evaluation costs | 0 | 0 | 0 |
Impairment, derecognition of assets and profit (loss) on disposal | (3) | 1 | 2 |
Other income (expenses) | 3 | 10 | (8) |
Operating profit (loss) | (6) | (9) | (13) |
Interest income | 6 | 4 | 3 |
Dividend received | 0 | ||
Foreign exchange losses | (4) | (6) | 1 |
Finance costs and unwinding of obligations | (106) | (107) | (107) |
Share of associates and joint ventures’ profit (loss) | 0 | 0 | 0 |
Equity gain (loss) in subsidiaries | 815 | 490 | 447 |
Profit (loss) before taxation | 705 | 372 | 331 |
Taxation | 0 | 0 | 0 |
Profit (loss) after taxation from continuing operations | 705 | 372 | 331 |
Discontinued operations | |||
Profit (loss) from discontinued operations | 0 | 0 | 0 |
Profit (loss) after discontinued operations | 331 | ||
Preferred stock dividends | 0 | ||
Profit (loss) for the year | 705 | 372 | 331 |
Equity shareholders | |||
- Continuing operations | 705 | 372 | 331 |
- Discontinued operations | 0 | 0 | 0 |
Non-controlling interests | |||
- Continuing operations | 0 | 0 | 0 |
Comprehensive income (loss) | 717 | 320 | 365 |
Comprehensive (income) loss attributable to non-controlling interests | 0 | 0 | 0 |
Reportable Legal Entities | Other subsidiaries (the “Non-Guarantor Subsidiaries”) | |||
Condensed Income Statement [Line Items] | |||
Revenue from product sales | 3,525 | 3,336 | 3,424 |
Cost of sales | (2,625) | (2,582) | (2,606) |
Gain (loss) on non-hedge derivatives and other commodity contracts | 5 | (2) | 0 |
Gross profit (loss) | 905 | 752 | 818 |
Corporate administration, marketing and other income (expenses) | (17) | (13) | (2) |
Exploration and evaluation costs | (112) | (98) | (104) |
Impairment, derecognition of assets and profit (loss) on disposal | (6) | (9) | (4) |
Other income (expenses) | 135 | (70) | (79) |
Operating profit (loss) | 905 | 562 | 629 |
Interest income | 5 | 4 | 4 |
Dividend received | 0 | ||
Foreign exchange losses | (8) | (3) | (12) |
Finance costs and unwinding of obligations | (56) | (45) | (36) |
Share of associates and joint ventures’ profit (loss) | 154 | 108 | 9 |
Equity gain (loss) in subsidiaries | 0 | 0 | 0 |
Profit (loss) before taxation | 1,000 | 626 | 594 |
Taxation | (282) | (235) | (195) |
Profit (loss) after taxation from continuing operations | 718 | 391 | 399 |
Discontinued operations | |||
Profit (loss) from discontinued operations | (95) | (84) | (12) |
Profit (loss) after discontinued operations | 387 | ||
Preferred stock dividends | 0 | ||
Profit (loss) for the year | 623 | 307 | 387 |
Equity shareholders | |||
- Continuing operations | 713 | 374 | 379 |
- Discontinued operations | (95) | (84) | (12) |
Non-controlling interests | |||
- Continuing operations | 5 | 17 | 20 |
Comprehensive income (loss) | 618 | 301 | 422 |
Comprehensive (income) loss attributable to non-controlling interests | (5) | (17) | (20) |
Consolidation adjustments | |||
Condensed Income Statement [Line Items] | |||
Revenue from product sales | 0 | 0 | (30) |
Cost of sales | 0 | 0 | 1 |
Gain (loss) on non-hedge derivatives and other commodity contracts | 0 | 0 | 0 |
Gross profit (loss) | 0 | 0 | (29) |
Corporate administration, marketing and other income (expenses) | (18) | (31) | (48) |
Exploration and evaluation costs | 0 | 0 | 0 |
Impairment, derecognition of assets and profit (loss) on disposal | 3 | 1 | 0 |
Other income (expenses) | (211) | (9) | 8 |
Operating profit (loss) | (226) | (39) | (69) |
Interest income | 0 | 0 | 0 |
Dividend received | 0 | ||
Foreign exchange losses | 0 | 0 | 0 |
Finance costs and unwinding of obligations | 6 | 0 | 0 |
Share of associates and joint ventures’ profit (loss) | 14 | 9 | 0 |
Equity gain (loss) in subsidiaries | (1,117) | (632) | (659) |
Profit (loss) before taxation | (1,323) | (662) | (728) |
Taxation | 0 | 0 | 0 |
Profit (loss) after taxation from continuing operations | (1,323) | (662) | (728) |
Discontinued operations | |||
Profit (loss) from discontinued operations | 0 | 0 | 0 |
Profit (loss) after discontinued operations | (728) | ||
Preferred stock dividends | 30 | ||
Profit (loss) for the year | (1,323) | (662) | (698) |
Equity shareholders | |||
- Continuing operations | (1,323) | (662) | (698) |
- Discontinued operations | 0 | 0 | 0 |
Non-controlling interests | |||
- Continuing operations | 0 | 0 | 0 |
Comprehensive income (loss) | (1,330) | (604) | (767) |
Comprehensive (income) loss attributable to non-controlling interests | 0 | 0 | 0 |
Aggregate continuing and discontinued operations | |||
Condensed Income Statement [Line Items] | |||
Cost of sales | (3,105) | (3,173) | (3,736) |
Gross profit (loss) | 983 | 772 | 784 |
Non-controlling interests | |||
Comprehensive income (loss) attributable to AngloGold Ashanti | 2 | (8) | (37) |
Aggregate continuing and discontinued operations | Reportable Legal Entities | AngloGold Ashanti (the “Guarantor”) | |||
Non-controlling interests | |||
Comprehensive income (loss) attributable to AngloGold Ashanti | 2 | (8) | (37) |
Aggregate continuing and discontinued operations | Reportable Legal Entities | IOMco (the “Issuer”) | |||
Non-controlling interests | |||
Comprehensive income (loss) attributable to AngloGold Ashanti | 717 | 320 | 365 |
Aggregate continuing and discontinued operations | Reportable Legal Entities | Other subsidiaries (the “Non-Guarantor Subsidiaries”) | |||
Non-controlling interests | |||
Comprehensive income (loss) attributable to AngloGold Ashanti | 613 | 284 | 402 |
Aggregate continuing and discontinued operations | Consolidation adjustments | |||
Non-controlling interests | |||
Comprehensive income (loss) attributable to AngloGold Ashanti | $ (1,330) | $ (604) | $ (767) |
Supplemental Condensed Consol_5
Supplemental Condensed Consolidating Financial Information - Condensed Consolidating Statement of Financial Position (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Non-current assets | |||||
Tangible and right of use assets | $ 2,750,000,000 | ||||
Tangible assets | 2,592,000,000 | $ 3,381,000,000 | $ 3,742,000,000 | ||
Intangible assets | 123,000,000 | 123,000,000 | 138,000,000 | ||
Investments in associates and joint ventures | 1,581,000,000 | 1,528,000,000 | 1,507,000,000 | ||
Other investments | 76,000,000 | 141,000,000 | 131,000,000 | ||
Inventories | 93,000,000 | 106,000,000 | 100,000,000 | ||
Trade, other receivables and other assets | 122,000,000 | 102,000,000 | 67,000,000 | ||
Deferred taxation | 105,000,000 | 0 | 4,000,000 | ||
Cash restricted for use | 31,000,000 | 35,000,000 | 37,000,000 | ||
Non-current assets | 4,881,000,000 | 5,416,000,000 | 5,726,000,000 | ||
Current assets | |||||
Other investments | 10,000,000 | 6,000,000 | 7,000,000 | ||
Inventories, trade and other receivables, intergroup balances and other current assets | 882,000,000 | 861,000,000 | 905,000,000 | ||
Cash restricted for use | 33,000,000 | 31,000,000 | 28,000,000 | ||
Cash and cash equivalents | 456,000,000 | 329,000,000 | 205,000,000 | $ 215,000,000 | |
Current assets other than non-current assets held for sale | 1,381,000,000 | 1,227,000,000 | 1,145,000,000 | ||
Assets held for sale | 601,000,000 | 0 | 348,000,000 | ||
Current assets | 1,982,000,000 | 1,227,000,000 | 1,493,000,000 | ||
Total assets | 6,863,000,000 | 6,643,000,000 | 7,219,000,000 | ||
EQUITY AND LIABILITIES | |||||
Share capital and premium | 7,199,000,000 | 7,171,000,000 | 7,134,000,000 | ||
Retained earnings (accumulated losses) and other reserves | (4,559,000,000) | (4,519,000,000) | (4,471,000,000) | ||
Shareholders’ equity | 2,640,000,000 | 2,652,000,000 | 2,663,000,000 | ||
Non-controlling interests | 36,000,000 | 42,000,000 | 41,000,000 | ||
Total equity | 2,676,000,000 | 2,694,000,000 | $ 2,704,000,000 | 2,704,000,000 | 2,754,000,000 |
Non-current liabilities | 2,478,000,000 | 3,156,000,000 | 3,660,000,000 | ||
Current liabilities including intergroup balances | 1,437,000,000 | 793,000,000 | 729,000,000 | ||
Liabilities held for sale | 272,000,000 | 0 | 126,000,000 | ||
Total liabilities | 4,187,000,000 | 3,949,000,000 | 4,515,000,000 | ||
Total equity and liabilities | 6,863,000,000 | 6,643,000,000 | 7,219,000,000 | ||
Consolidation adjustments | |||||
Non-current assets | |||||
Tangible and right of use assets | 6,000,000 | ||||
Tangible assets | 0 | 0 | |||
Intangible assets | (1,000,000) | (1,000,000) | (2,000,000) | ||
Investments in associates and joint ventures | (7,136,000,000) | (6,508,000,000) | (6,611,000,000) | ||
Other investments | (2,000,000) | (2,000,000) | (2,000,000) | ||
Inventories | 0 | 0 | 0 | ||
Trade, other receivables and other assets | (29,000,000) | (29,000,000) | (29,000,000) | ||
Deferred taxation | 0 | 0 | |||
Cash restricted for use | 0 | 0 | 0 | ||
Non-current assets | (7,162,000,000) | (6,540,000,000) | (6,644,000,000) | ||
Current assets | |||||
Other investments | 0 | 0 | 0 | ||
Inventories, trade and other receivables, intergroup balances and other current assets | (1,317,000,000) | (1,111,000,000) | (877,000,000) | ||
Cash restricted for use | 0 | 0 | 0 | ||
Cash and cash equivalents | 0 | 0 | 0 | 0 | |
Current assets other than non-current assets held for sale | (1,317,000,000) | (1,111,000,000) | (877,000,000) | ||
Assets held for sale | 0 | 0 | |||
Current assets | (1,317,000,000) | (877,000,000) | |||
Total assets | (8,479,000,000) | (7,651,000,000) | (7,521,000,000) | ||
EQUITY AND LIABILITIES | |||||
Share capital and premium | (6,933,000,000) | (6,917,000,000) | (6,920,000,000) | ||
Retained earnings (accumulated losses) and other reserves | 1,047,000,000 | 1,904,000,000 | 1,872,000,000 | ||
Shareholders’ equity | (5,886,000,000) | (5,013,000,000) | (5,048,000,000) | ||
Non-controlling interests | 0 | 0 | 0 | ||
Total equity | (5,886,000,000) | (5,013,000,000) | (5,048,000,000) | ||
Non-current liabilities | 0 | 0 | 0 | ||
Current liabilities including intergroup balances | (2,593,000,000) | (2,638,000,000) | (2,473,000,000) | ||
Liabilities held for sale | 0 | 0 | |||
Total liabilities | (2,593,000,000) | (2,638,000,000) | (2,473,000,000) | ||
Total equity and liabilities | (8,479,000,000) | (7,651,000,000) | (7,521,000,000) | ||
AngloGold Ashanti (the “Guarantor”) | Reportable Legal Entities | |||||
Non-current assets | |||||
Tangible and right of use assets | 4,000,000 | ||||
Tangible assets | 625,000,000 | 739,000,000 | |||
Intangible assets | 1,000,000 | 1,000,000 | 1,000,000 | ||
Investments in associates and joint ventures | 2,646,000,000 | 2,383,000,000 | 2,371,000,000 | ||
Other investments | 2,000,000 | 2,000,000 | 2,000,000 | ||
Inventories | 0 | 1,000,000 | 0 | ||
Trade, other receivables and other assets | 0 | 0 | 0 | ||
Deferred taxation | 105,000,000 | 0 | |||
Cash restricted for use | 0 | 0 | 0 | ||
Non-current assets | 2,758,000,000 | 3,012,000,000 | 3,113,000,000 | ||
Current assets | |||||
Other investments | 0 | 0 | 0 | ||
Inventories, trade and other receivables, intergroup balances and other current assets | 333,000,000 | 390,000,000 | 471,000,000 | ||
Cash restricted for use | 0 | 0 | 0 | ||
Cash and cash equivalents | 12,000,000 | 7,000,000 | 11,000,000 | 44,000,000 | |
Current assets other than non-current assets held for sale | 345,000,000 | 397,000,000 | 482,000,000 | ||
Assets held for sale | 253,000,000 | 310,000,000 | |||
Current assets | 598,000,000 | 792,000,000 | |||
Total assets | 3,356,000,000 | 3,409,000,000 | 3,905,000,000 | ||
EQUITY AND LIABILITIES | |||||
Share capital and premium | 7,199,000,000 | 7,171,000,000 | 7,134,000,000 | ||
Retained earnings (accumulated losses) and other reserves | (4,559,000,000) | (4,519,000,000) | (4,471,000,000) | ||
Shareholders’ equity | 2,640,000,000 | 2,652,000,000 | 2,663,000,000 | ||
Non-controlling interests | 0 | 0 | 0 | ||
Total equity | 2,640,000,000 | 2,652,000,000 | 2,663,000,000 | ||
Non-current liabilities | 225,000,000 | 319,000,000 | 527,000,000 | ||
Current liabilities including intergroup balances | 401,000,000 | 438,000,000 | 591,000,000 | ||
Liabilities held for sale | 90,000,000 | 124,000,000 | |||
Total liabilities | 716,000,000 | 757,000,000 | 1,242,000,000 | ||
Total equity and liabilities | 3,356,000,000 | 3,409,000,000 | 3,905,000,000 | ||
IOMco (the “Issuer”) | Reportable Legal Entities | |||||
Non-current assets | |||||
Tangible and right of use assets | 0 | ||||
Tangible assets | 0 | 0 | |||
Intangible assets | 0 | 0 | 0 | ||
Investments in associates and joint ventures | 4,612,000,000 | 4,255,000,000 | 4,376,000,000 | ||
Other investments | 2,000,000 | 3,000,000 | 6,000,000 | ||
Inventories | 0 | 0 | 0 | ||
Trade, other receivables and other assets | 29,000,000 | 29,000,000 | 29,000,000 | ||
Deferred taxation | 0 | 0 | |||
Cash restricted for use | 0 | 0 | 0 | ||
Non-current assets | 4,643,000,000 | 4,287,000,000 | 4,411,000,000 | ||
Current assets | |||||
Other investments | 10,000,000 | 6,000,000 | 6,000,000 | ||
Inventories, trade and other receivables, intergroup balances and other current assets | 619,000,000 | 416,000,000 | 145,000,000 | ||
Cash restricted for use | 0 | 0 | 1,000,000 | ||
Cash and cash equivalents | 102,000,000 | 97,000,000 | 21,000,000 | 32,000,000 | |
Current assets other than non-current assets held for sale | 731,000,000 | 519,000,000 | 173,000,000 | ||
Assets held for sale | 0 | 0 | |||
Current assets | 731,000,000 | 173,000,000 | |||
Total assets | 5,374,000,000 | 4,806,000,000 | 4,584,000,000 | ||
EQUITY AND LIABILITIES | |||||
Share capital and premium | 6,096,000,000 | 6,096,000,000 | 6,096,000,000 | ||
Retained earnings (accumulated losses) and other reserves | (2,715,000,000) | (3,310,000,000) | (3,491,000,000) | ||
Shareholders’ equity | 3,381,000,000 | 2,786,000,000 | 2,605,000,000 | ||
Non-controlling interests | 0 | 0 | 0 | ||
Total equity | 3,381,000,000 | 2,786,000,000 | 2,605,000,000 | ||
Non-current liabilities | 1,031,000,000 | 1,734,000,000 | 1,764,000,000 | ||
Current liabilities including intergroup balances | 962,000,000 | 286,000,000 | 215,000,000 | ||
Liabilities held for sale | 0 | 0 | |||
Total liabilities | 1,993,000,000 | 2,020,000,000 | 1,979,000,000 | ||
Total equity and liabilities | 5,374,000,000 | 4,806,000,000 | 4,584,000,000 | ||
Other subsidiaries (the “Non-Guarantor Subsidiaries”) | Reportable Legal Entities | |||||
Non-current assets | |||||
Tangible and right of use assets | 2,740,000,000 | ||||
Tangible assets | 2,756,000,000 | 3,003,000,000 | |||
Intangible assets | 123,000,000 | 123,000,000 | 139,000,000 | ||
Investments in associates and joint ventures | 1,459,000,000 | 1,398,000,000 | 1,371,000,000 | ||
Other investments | 74,000,000 | 138,000,000 | 125,000,000 | ||
Inventories | 93,000,000 | 105,000,000 | 100,000,000 | ||
Trade, other receivables and other assets | 122,000,000 | 102,000,000 | 67,000,000 | ||
Deferred taxation | 0 | 4,000,000 | |||
Cash restricted for use | 31,000,000 | 35,000,000 | 37,000,000 | ||
Non-current assets | 4,642,000,000 | 4,657,000,000 | 4,846,000,000 | ||
Current assets | |||||
Other investments | 0 | 0 | 1,000,000 | ||
Inventories, trade and other receivables, intergroup balances and other current assets | 1,247,000,000 | 1,166,000,000 | 1,166,000,000 | ||
Cash restricted for use | 33,000,000 | 31,000,000 | 27,000,000 | ||
Cash and cash equivalents | 342,000,000 | 225,000,000 | 173,000,000 | $ 139,000,000 | |
Current assets other than non-current assets held for sale | 1,622,000,000 | 1,422,000,000 | 1,367,000,000 | ||
Assets held for sale | 348,000,000 | 38,000,000 | |||
Current assets | 1,970,000,000 | 1,405,000,000 | |||
Total assets | 6,612,000,000 | 6,079,000,000 | 6,251,000,000 | ||
EQUITY AND LIABILITIES | |||||
Share capital and premium | 837,000,000 | 821,000,000 | 824,000,000 | ||
Retained earnings (accumulated losses) and other reserves | 1,668,000,000 | 1,406,000,000 | 1,619,000,000 | ||
Shareholders’ equity | 2,505,000,000 | 2,227,000,000 | 2,443,000,000 | ||
Non-controlling interests | 36,000,000 | 42,000,000 | 41,000,000 | ||
Total equity | 2,541,000,000 | 2,269,000,000 | 2,484,000,000 | ||
Non-current liabilities | 1,222,000,000 | 1,103,000,000 | 1,369,000,000 | ||
Current liabilities including intergroup balances | 2,667,000,000 | 2,707,000,000 | 2,396,000,000 | ||
Liabilities held for sale | 182,000,000 | 2,000,000 | |||
Total liabilities | 4,071,000,000 | 3,810,000,000 | 3,767,000,000 | ||
Total equity and liabilities | $ 6,612,000,000 | $ 6,079,000,000 | $ 6,251,000,000 |
Supplemental Condensed Consol_6
Supplemental Condensed Consolidating Financial Information - Condensed Consolidating Statement of Cash Flow (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Cash flows from operating activities | |||
Cash generated from (used by) operations | $ 1,102 | $ 931 | $ 1,067 |
Net movement in intergroup receivables and payables | 0 | 0 | 0 |
Dividends received from joint ventures | 77 | 91 | 6 |
Taxation refund | 7 | 5 | 14 |
Taxation paid | (228) | (171) | (174) |
Net cash inflow (outflow) from operating activities from continuing operations | 958 | 856 | 913 |
Net cash inflow (outflow) from operating activities from discontinued operations | 89 | 1 | 84 |
Net cash inflow (outflow) from operating activities | 1,047 | 857 | 997 |
Cash flows from investing activities | |||
Capital expenditure | (703) | (575) | (675) |
Interest capitalised and paid | (6) | 0 | 0 |
Proceeds from disposal of tangible assets | 3 | 10 | 3 |
Dividends from other investments | 0 | 2 | 0 |
Other investments acquired | (9) | (13) | (8) |
Proceeds from disposal of other investments | 3 | 7 | 3 |
Investments in associates and joint ventures | (5) | (8) | (27) |
Net loans repaid by (advanced to) associates and joint ventures | 20 | 17 | (6) |
Reduction in investment in subsidiary | 0 | ||
Disposal (acquisition) of subsidiaries | 0 | 0 | 0 |
Increase in investment in subsidiary | 0 | ||
Decrease (increase) in cash restricted for use | 0 | (6) | (8) |
Interest received | 14 | 5 | 7 |
Net cash inflow (outflow) from investing activities from continuing operations | (683) | (561) | (711) |
Net cash inflow (outflow) from investing activities from discontinued operations | (54) | 226 | (151) |
Cash in subsidiaries sold and transferred to held for sale | (6) | 0 | 0 |
Net cash inflow (outflow) from investing activities | (743) | (335) | (862) |
Cash flows from financing activities | |||
Increase/reduction in share capital | 0 | 0 | |
Proceeds from borrowings | 168 | 753 | 815 |
Repayment of borrowings | (165) | (967) | (767) |
Finance costs paid | (137) | (130) | (138) |
Bond settlement premium, RCF and bond transaction costs | 0 | (10) | 0 |
Dividends paid | (43) | (39) | (58) |
Intergroup dividends received (paid) | 0 | 0 | 0 |
Net cash inflow (outflow) from financing activities from continuing operations | (177) | (393) | (148) |
Net cash inflow (outflow) from financing activities from discontinued operations | 0 | 0 | 0 |
Net cash inflow (outflow) from financing activities | (177) | (393) | (148) |
Net increase (decrease) in cash and cash equivalents | 127 | 129 | (13) |
Translation | 0 | (5) | 3 |
Cash and cash equivalents at beginning of year | 329 | 205 | 215 |
Cash and cash equivalents at end of year | 456 | 329 | 205 |
Consolidation adjustments | |||
Cash flows from operating activities | |||
Cash generated from (used by) operations | 4 | 8 | 3 |
Net movement in intergroup receivables and payables | (7) | 12 | (31) |
Dividends received from joint ventures | 0 | 0 | 0 |
Taxation refund | 0 | 0 | 0 |
Taxation paid | 0 | 0 | 0 |
Net cash inflow (outflow) from operating activities from continuing operations | (3) | 20 | (28) |
Net cash inflow (outflow) from operating activities from discontinued operations | 0 | 0 | 0 |
Net cash inflow (outflow) from operating activities | (3) | 20 | (28) |
Cash flows from investing activities | |||
Capital expenditure | 0 | 0 | 0 |
Interest capitalised and paid | (6) | ||
Proceeds from disposal of tangible assets | 0 | 6 | 0 |
Dividends from other investments | 0 | ||
Other investments acquired | 0 | 0 | 0 |
Proceeds from disposal of other investments | 0 | 0 | 3 |
Investments in associates and joint ventures | 0 | 0 | 2 |
Net loans repaid by (advanced to) associates and joint ventures | 0 | 0 | (2) |
Reduction in investment in subsidiary | (42) | ||
Disposal (acquisition) of subsidiaries | 0 | 0 | 0 |
Increase in investment in subsidiary | 16 | ||
Decrease (increase) in cash restricted for use | (1) | 0 | |
Interest received | 0 | 0 | 0 |
Net cash inflow (outflow) from investing activities from continuing operations | 10 | 5 | (39) |
Net cash inflow (outflow) from investing activities from discontinued operations | 0 | 0 | 0 |
Cash in subsidiaries sold and transferred to held for sale | 0 | ||
Net cash inflow (outflow) from investing activities | 10 | 5 | (39) |
Cash flows from financing activities | |||
Increase/reduction in share capital | (16) | 43 | |
Proceeds from borrowings | 0 | 0 | 0 |
Repayment of borrowings | 0 | 0 | 0 |
Finance costs paid | 6 | 0 | 0 |
Bond settlement premium, RCF and bond transaction costs | 0 | 0 | |
Dividends paid | 0 | 0 | 0 |
Intergroup dividends received (paid) | 0 | 1 | 0 |
Net cash inflow (outflow) from financing activities from continuing operations | (10) | 1 | 43 |
Net cash inflow (outflow) from financing activities from discontinued operations | 0 | 0 | 0 |
Net cash inflow (outflow) from financing activities | (10) | 1 | 43 |
Net increase (decrease) in cash and cash equivalents | (3) | 26 | (24) |
Translation | 3 | (26) | 24 |
Cash and cash equivalents at beginning of year | 0 | 0 | 0 |
Cash and cash equivalents at end of year | 0 | 0 | 0 |
AngloGold Ashanti (the “Guarantor”) | Reportable Legal Entities | |||
Cash flows from operating activities | |||
Cash generated from (used by) operations | (59) | (93) | (61) |
Net movement in intergroup receivables and payables | 35 | 73 | 10 |
Dividends received from joint ventures | 0 | 0 | 0 |
Taxation refund | 0 | 0 | 3 |
Taxation paid | 0 | 0 | 0 |
Net cash inflow (outflow) from operating activities from continuing operations | (24) | (20) | (48) |
Net cash inflow (outflow) from operating activities from discontinued operations | 58 | (27) | 56 |
Net cash inflow (outflow) from operating activities | 34 | (47) | 8 |
Cash flows from investing activities | |||
Capital expenditure | 0 | 0 | (1) |
Interest capitalised and paid | 0 | ||
Proceeds from disposal of tangible assets | 0 | 0 | 0 |
Dividends from other investments | 2 | ||
Other investments acquired | 0 | 0 | 0 |
Proceeds from disposal of other investments | 0 | 0 | 0 |
Investments in associates and joint ventures | 0 | 0 | 0 |
Net loans repaid by (advanced to) associates and joint ventures | 17 | 9 | 0 |
Reduction in investment in subsidiary | 42 | ||
Disposal (acquisition) of subsidiaries | 0 | 0 | 0 |
Increase in investment in subsidiary | (16) | ||
Decrease (increase) in cash restricted for use | 0 | 0 | |
Interest received | 3 | 0 | 0 |
Net cash inflow (outflow) from investing activities from continuing operations | 4 | 11 | 41 |
Net cash inflow (outflow) from investing activities from discontinued operations | (46) | 207 | (139) |
Cash in subsidiaries sold and transferred to held for sale | 0 | ||
Net cash inflow (outflow) from investing activities | (42) | 218 | (98) |
Cash flows from financing activities | |||
Increase/reduction in share capital | 0 | 0 | |
Proceeds from borrowings | 130 | 407 | 539 |
Repayment of borrowings | (124) | (570) | (428) |
Finance costs paid | (10) | (12) | (15) |
Bond settlement premium, RCF and bond transaction costs | 0 | 0 | |
Dividends paid | (28) | (24) | (39) |
Intergroup dividends received (paid) | 44 | 25 | 0 |
Net cash inflow (outflow) from financing activities from continuing operations | 12 | (174) | 57 |
Net cash inflow (outflow) from financing activities from discontinued operations | 0 | 0 | 0 |
Net cash inflow (outflow) from financing activities | 12 | (174) | 57 |
Net increase (decrease) in cash and cash equivalents | 4 | (3) | (33) |
Translation | 1 | (1) | 0 |
Cash and cash equivalents at beginning of year | 7 | 11 | 44 |
Cash and cash equivalents at end of year | 12 | 7 | 11 |
IOMco (the “Issuer”) | Reportable Legal Entities | |||
Cash flows from operating activities | |||
Cash generated from (used by) operations | (8) | (18) | (15) |
Net movement in intergroup receivables and payables | (205) | (215) | (102) |
Dividends received from joint ventures | 77 | 91 | 6 |
Taxation refund | 0 | 0 | 0 |
Taxation paid | 0 | 0 | 0 |
Net cash inflow (outflow) from operating activities from continuing operations | (136) | (142) | (111) |
Net cash inflow (outflow) from operating activities from discontinued operations | 0 | 0 | 0 |
Net cash inflow (outflow) from operating activities | (136) | (142) | (111) |
Cash flows from investing activities | |||
Capital expenditure | 0 | 0 | 0 |
Interest capitalised and paid | 0 | ||
Proceeds from disposal of tangible assets | 0 | 0 | 0 |
Dividends from other investments | 0 | ||
Other investments acquired | 0 | 0 | (5) |
Proceeds from disposal of other investments | 0 | 0 | 0 |
Investments in associates and joint ventures | 0 | 0 | (15) |
Net loans repaid by (advanced to) associates and joint ventures | 4 | 10 | (6) |
Reduction in investment in subsidiary | 0 | ||
Disposal (acquisition) of subsidiaries | (8) | (7) | (2) |
Increase in investment in subsidiary | 0 | ||
Decrease (increase) in cash restricted for use | 1 | 0 | |
Interest received | 5 | 1 | 3 |
Net cash inflow (outflow) from investing activities from continuing operations | 1 | 5 | (25) |
Net cash inflow (outflow) from investing activities from discontinued operations | 0 | 0 | 0 |
Cash in subsidiaries sold and transferred to held for sale | 0 | ||
Net cash inflow (outflow) from investing activities | 1 | 5 | (25) |
Cash flows from financing activities | |||
Increase/reduction in share capital | 0 | (43) | |
Proceeds from borrowings | 0 | 45 | 155 |
Repayment of borrowings | 0 | (80) | (170) |
Finance costs paid | (102) | (102) | (103) |
Bond settlement premium, RCF and bond transaction costs | 0 | (10) | |
Dividends paid | 0 | 0 | 0 |
Intergroup dividends received (paid) | 242 | 360 | 286 |
Net cash inflow (outflow) from financing activities from continuing operations | 140 | 213 | 125 |
Net cash inflow (outflow) from financing activities from discontinued operations | 0 | 0 | 0 |
Net cash inflow (outflow) from financing activities | 140 | 213 | 125 |
Net increase (decrease) in cash and cash equivalents | 5 | 76 | (11) |
Translation | 0 | 0 | 0 |
Cash and cash equivalents at beginning of year | 97 | 21 | 32 |
Cash and cash equivalents at end of year | 102 | 97 | 21 |
Other subsidiaries (the “Non-Guarantor Subsidiaries”) | Reportable Legal Entities | |||
Cash flows from operating activities | |||
Cash generated from (used by) operations | 1,165 | 1,034 | 1,140 |
Net movement in intergroup receivables and payables | 177 | 130 | 123 |
Dividends received from joint ventures | 0 | 0 | 0 |
Taxation refund | 7 | 5 | 11 |
Taxation paid | (228) | (171) | (174) |
Net cash inflow (outflow) from operating activities from continuing operations | 1,121 | 998 | 1,100 |
Net cash inflow (outflow) from operating activities from discontinued operations | 31 | 28 | 28 |
Net cash inflow (outflow) from operating activities | 1,152 | 1,026 | 1,128 |
Cash flows from investing activities | |||
Capital expenditure | (703) | (575) | (674) |
Interest capitalised and paid | 0 | ||
Proceeds from disposal of tangible assets | 3 | 4 | 3 |
Dividends from other investments | 0 | ||
Other investments acquired | (9) | (13) | (3) |
Proceeds from disposal of other investments | 3 | 7 | 0 |
Investments in associates and joint ventures | (5) | (8) | (14) |
Net loans repaid by (advanced to) associates and joint ventures | (1) | (2) | 2 |
Reduction in investment in subsidiary | 0 | ||
Disposal (acquisition) of subsidiaries | 8 | 7 | 2 |
Increase in investment in subsidiary | 0 | ||
Decrease (increase) in cash restricted for use | (6) | (8) | |
Interest received | 6 | 4 | 4 |
Net cash inflow (outflow) from investing activities from continuing operations | (698) | (582) | (688) |
Net cash inflow (outflow) from investing activities from discontinued operations | (8) | 19 | (12) |
Cash in subsidiaries sold and transferred to held for sale | (6) | ||
Net cash inflow (outflow) from investing activities | (712) | (563) | (700) |
Cash flows from financing activities | |||
Increase/reduction in share capital | 16 | 0 | |
Proceeds from borrowings | 38 | 301 | 121 |
Repayment of borrowings | (41) | (317) | (169) |
Finance costs paid | (31) | (16) | (20) |
Bond settlement premium, RCF and bond transaction costs | 0 | 0 | |
Dividends paid | (15) | (15) | (19) |
Intergroup dividends received (paid) | (286) | (386) | (286) |
Net cash inflow (outflow) from financing activities from continuing operations | (319) | (433) | (373) |
Net cash inflow (outflow) from financing activities from discontinued operations | 0 | 0 | 0 |
Net cash inflow (outflow) from financing activities | (319) | (433) | (373) |
Net increase (decrease) in cash and cash equivalents | 121 | 30 | 55 |
Translation | (4) | 22 | (21) |
Cash and cash equivalents at beginning of year | 225 | 173 | 139 |
Cash and cash equivalents at end of year | $ 342 | $ 225 | $ 173 |
Uncategorized Items - au-201912
Label | Element | Value | |
Issued Capital and Share Premium [Member] | |||
Equity | ifrs-full_Equity | $ 7,134,000,000 | |
Equity attributable to owners of parent [member] | |||
Equity | ifrs-full_Equity | 2,663,000,000 | |
Reserve of exchange differences on translation [member] | |||
Equity | ifrs-full_Equity | (1,263,000,000) | |
Retained earnings [member] | |||
Cumulative Effect of New Accounting Principle in Period of Adoption1 | au_CumulativeEffectofNewAccountingPrincipleinPeriodofAdoption1 | 10,000,000 | [1] |
Non-controlling interests [member] | |||
Equity | ifrs-full_Equity | 41,000,000 | |
Other reserves [member] | |||
Equity | ifrs-full_Equity | 124,000,000 | [2] |
Reserve of gains and losses on remeasuring available-for-sale financial assets [member] | |||
Equity | ifrs-full_Equity | 0 | |
Cumulative Effect of New Accounting Principle in Period of Adoption1 | au_CumulativeEffectofNewAccountingPrincipleinPeriodofAdoption1 | (43,000,000) | |
Reserve of remeasurements of defined benefit plans [member] | |||
Equity | ifrs-full_Equity | (16,000,000) | |
Financial assets at fair value through other comprehensive income, category [member] | |||
Equity | ifrs-full_Equity | 33,000,000 | |
Cumulative Effect of New Accounting Principle in Period of Adoption1 | au_CumulativeEffectofNewAccountingPrincipleinPeriodofAdoption1 | 33,000,000 | |
Accumulated depreciation, amortisation and impairment [member] | |||
Right-of-use assets | ifrs-full_RightofuseAssets | 0 | |
Accumulated depreciation, amortisation and impairment [member] | Land and buildings [member] | |||
Right-of-use assets | ifrs-full_RightofuseAssets | 0 | |
Accumulated depreciation, amortisation and impairment [member] | Mining assets [member] | |||
Right-of-use assets | ifrs-full_RightofuseAssets | 0 | |
Gross carrying amount [member] | |||
Right-of-use assets | ifrs-full_RightofuseAssets | 128,000,000 | |
Gross carrying amount [member] | Land and buildings [member] | |||
Right-of-use assets | ifrs-full_RightofuseAssets | 9,000,000 | |
Gross carrying amount [member] | Mining assets [member] | |||
Right-of-use assets | ifrs-full_RightofuseAssets | $ 119,000,000 | |
[1] | Included in accumulated losses are retained earnings totalling $378m (2018: $283m; 2017: $287m) arising at the equity accounted investments and certain subsidiaries which may not be remitted without third party consent. | ||
[2] | Other capital reserves include a surplus on disposal of company shares held by companies prior to the formation of AngloGold Ashanti Limited of $10m (2018: $10m; 2017: $11m), surplus on equity transaction of joint venture of $36m (2018: $36m; 2017: $36m), equity items for share-based payments of $39m (2018: $48m; 2017: $75m) and other reserves. |