Cover
Cover | 3 Months Ended |
Mar. 31, 2021 | |
Cover [Abstract] | |
Document Type | 6-K |
Entity Registrant Name | AngloGold Ashanti Limited |
Amendment Flag | false |
Document Period End Date | Mar. 31, 2021 |
Document Fiscal Year Focus | 2021 |
Document Fiscal Period Focus | Q1 |
Entity Central Index Key | 0001067428 |
Current Fiscal Year End Date | --12-31 |
Group - Income Statement
Group - Income Statement - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | ||
Profit or loss [abstract] | ||||
Revenue from product sales | $ 979 | $ 905 | $ 4,427 | |
Cost of sales | (677) | (636) | (2,699) | |
(Loss) gain on non-hedge derivatives and other commodity contracts | 0 | (13) | (19) | |
Gross profit | 302 | 256 | 1,709 | |
Corporate administration, marketing and other expenses | (16) | (16) | (68) | |
Exploration and evaluation costs | (31) | (27) | (124) | |
Impairment, derecognition of assets and profit (loss) on disposal | 0 | (1) | (1) | |
Other (expenses) income | (2) | (20) | (57) | |
Operating profit (loss) | 253 | 192 | 1,459 | |
Interest income | 14 | 5 | 27 | |
Dividends received | 0 | 0 | 2 | |
Foreign exchange and other (losses) gains | (15) | 19 | 0 | |
Finance costs and unwinding of obligations | (30) | (43) | (177) | |
Share of associates and joint ventures' profit (loss) | 57 | 58 | 278 | |
Profit (loss) before taxation | 279 | 231 | 1,589 | |
Taxation | (70) | (95) | (625) | |
Profit (loss) for the period from continuing operations | 209 | 136 | 964 | |
Discontinued operations | ||||
Profit (loss) from discontinued operations | 0 | 35 | 7 | |
Profit (loss) for the period | 209 | 171 | 971 | |
Equity shareholders | ||||
- Continuing operations | 203 | 134 | 946 | |
- Discontinued operations | 0 | 35 | 7 | |
Non-controlling interests | ||||
- Continuing operations | $ 6 | $ 2 | $ 18 | |
Basic profit (loss) per ordinary share | ||||
Earnings per ordinary share from continuing operations (USD per share) | [1] | $ 0.48 | $ 0.32 | $ 2.25 |
Earnings (loss) per ordinary share from discontinued operations (USD per share) | [1] | 0 | 0.08 | 0.02 |
Basic profit (loss) per ordinary share (USD per share) | [1] | 0.48 | 0.40 | 2.27 |
Diluted profit (loss) per ordinary share | ||||
Earnings per ordinary share from continuing operations (USD per share) | [2] | 0.48 | 0.32 | 2.25 |
Earnings (loss) per ordinary share from discontinued operations (USD per share) | [2] | 0 | 0.08 | 0.02 |
Diluted profit (loss) per ordinary share (USD per share) | [2] | $ 0.48 | $ 0.40 | $ 2.27 |
[1] | Calculated on the basic weighted average number of ordinary shares. | |||
[2] | Calculated on the diluted weighted average number of ordinary shares. |
Group - Statement of Comprehens
Group - Statement of Comprehensive Income - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | ||
Condensed Statement of Income Captions [Line Items] | ||||
Profit (loss) for the period | $ 209 | $ 171 | $ 971 | |
Items that will be reclassified subsequently to profit or loss: | ||||
Exchange differences on translation of foreign operations | [1] | (5) | (71) | 38 |
Items that will not be reclassified subsequently to profit or loss: | ||||
Exchange differences on translation of non-foreign operations | [1] | 3 | (56) | (16) |
Net (loss) gain on equity investments | (60) | (25) | 98 | |
Actuarial gain (loss) recognised | 0 | 0 | 10 | |
Deferred taxation thereon | 2 | 2 | (6) | |
Other comprehensive income that will not be reclassified to profit or loss | (55) | (79) | 86 | |
Other comprehensive income (loss) for the period, net of tax | (60) | (150) | 124 | |
Equity shareholders | ||||
Comprehensive income, attributable to owners of parent | 143 | 38 | 1,121 | |
Non-controlling interests | ||||
- Continuing operations | 6 | 2 | 18 | |
Discontinued operations | ||||
Equity shareholders | ||||
Comprehensive income, attributable to owners of parent | 0 | (19) | (44) | |
Aggregate continuing and discontinued operations | ||||
Items that will not be reclassified subsequently to profit or loss: | ||||
Total comprehensive income (loss) for the period, net of tax | $ 149 | $ 21 | $ 1,095 | |
[1] | Exchange differences arising on translation of foreign and non-foreign operations have been restated to reflect those that will be reclassified subsequently to profit or loss and those that will not be reclassified subsequently to profit or loss. Refer to note 15. |
Group - Statement of Financial
Group - Statement of Financial Position - USD ($) $ in Millions | Mar. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2020 |
Non-current assets | |||
Tangible assets | $ 2,977 | $ 2,884 | $ 2,603 |
Right of use assets | 142 | 142 | 136 |
Intangible assets | 129 | 131 | 109 |
Investments in associates and joint ventures | 1,675 | 1,651 | 1,608 |
Other investments | 128 | 188 | 51 |
Inventories | 56 | 69 | 77 |
Trade, other receivables and other assets | 256 | 235 | 129 |
Deferred taxation | 19 | 7 | 68 |
Cash restricted for use | 32 | 31 | 31 |
Total Non-current assets | 5,414 | 5,338 | 4,812 |
Current assets | |||
Inventories | 684 | 733 | 691 |
Trade, other receivables and other assets | 251 | 229 | 223 |
Cash restricted for use | 36 | 42 | 32 |
Cash and cash equivalents | 1,011 | 1,330 | 1,870 |
Current assets other than non-current assets or disposal groups classified as held for sale | 1,982 | 2,334 | 2,816 |
Assets held for sale | 0 | 0 | 522 |
Total Current assets | 1,982 | 2,334 | 3,338 |
Total assets | 7,396 | 7,672 | 8,150 |
EQUITY AND LIABILITIES | |||
Share capital and premium | 7,219 | 7,214 | 7,209 |
Accumulated losses and other reserves | (3,579) | (3,519) | (4,588) |
Shareholders' equity | 3,640 | 3,695 | 2,621 |
Non-controlling interests | 51 | 45 | 38 |
Total equity | 3,691 | 3,740 | 2,659 |
Non-current liabilities | |||
Borrowings | 1,790 | 1,789 | 2,741 |
Lease liabilities | 115 | 116 | 107 |
Environmental rehabilitation and other provisions | 686 | 731 | 728 |
Provision for pension and post-retirement benefits | 83 | 83 | 78 |
Trade, other payables and provisions | 5 | 8 | 6 |
Deferred taxation | 262 | 246 | 243 |
Total Non-current liabilities | 2,941 | 2,973 | 3,903 |
Current liabilities | |||
Borrowings | 129 | 142 | 739 |
Lease liabilities | 37 | 37 | 37 |
Trade, other payables and provisions | 525 | 627 | 505 |
Taxation | 71 | 153 | 73 |
Shareholders for dividends | 2 | 0 | 0 |
Total current liabilities other than liabilities included in disposal groups classified as held for sale | 764 | 959 | 1,354 |
Liabilities held for sale | 0 | 0 | 234 |
Total Current liabilities | 764 | 959 | 1,588 |
Total liabilities | 3,705 | 3,932 | 5,491 |
Total equity and liabilities | $ 7,396 | $ 7,672 | $ 8,150 |
Group - Statement of Cash Flows
Group - Statement of Cash Flows - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | |
Cash flows from operating activities | |||
Receipts from customers | $ 957 | $ 930 | $ 4,411 |
Payments to suppliers and employees | (723) | (706) | (2,583) |
Cash generated from operations | 234 | 224 | 1,828 |
Dividends received from joint ventures | 36 | 25 | 148 |
Taxation refund | 7 | 0 | 0 |
Taxation paid | (128) | (75) | (431) |
Net cash inflow (outflow) from operating activities from continuing operations | 149 | 174 | 1,545 |
Net cash inflow (outflow) from operating activities from discontinued operations | 0 | 45 | 109 |
Net cash inflow (outflow) from operating activities | 149 | 219 | 1,654 |
Cash flows from investing activities | |||
Capital expenditure | (199) | (170) | (701) |
Interest capitalised and paid | (4) | (4) | (17) |
Acquisition of intangible assets | 0 | 0 | (1) |
Dividends from other investments | 0 | 0 | 9 |
Proceeds from disposal of tangible assets | 1 | 0 | 3 |
Other investments and assets acquired | (12) | 0 | (8) |
Proceeds from disposal of other investments | 0 | 9 | 9 |
Proceeds from disposal of joint ventures | 2 | 0 | 26 |
Loans repaid by associates and joint ventures | 0 | 0 | 12 |
Proceeds on disposal of discontinued assets and subsidiaries | 0 | 0 | 200 |
Recognition of joint operation - cash | 0 | 0 | 2 |
Decrease (increase) in cash restricted for use | 6 | (6) | (9) |
Interest received | 14 | 6 | 27 |
Net cash inflow (outflow) from investing activities from continuing operations | (192) | (165) | (448) |
Net cash inflow (outflow) from investing activities from discontinued operations | 0 | (10) | (31) |
Cash in subsidiaries sold and transferred to held for sale | 0 | (6) | 3 |
Net cash inflow (outflow) from investing activities | (192) | (181) | (476) |
Cash flows from financing activities | |||
Proceeds from borrowings | 0 | 1,526 | 2,226 |
Repayment of borrowings | 0 | (62) | (2,310) |
Repayment of lease liabilities | (14) | (11) | (47) |
Finance costs - borrowings | (36) | (25) | (110) |
Finance costs - leases | (2) | (2) | (8) |
Other borrowing costs | 0 | 0 | (33) |
Dividends paid | (197) | (38) | (47) |
Net cash inflow (outflow) from financing activities from continuing operations | (249) | 1,388 | (329) |
Net increase (decrease) in cash and cash equivalents | (292) | 1,426 | 849 |
Effect of exchange rate changes on cash and cash equivalents [abstract] | |||
Translation | (27) | (12) | 25 |
Cash and cash equivalents at beginning of period | 1,330 | 456 | 456 |
Cash and cash equivalents at end of period | $ 1,011 | $ 1,870 | $ 1,330 |
Group - Statement of Changes in
Group - Statement of Changes in Equity - USD ($) $ in Millions | Total | Aggregate continuing and discontinued operations | Total | TotalAggregate continuing and discontinued operations | Share capital and premium | Share capital and premiumAggregate continuing and discontinued operations | Other capital reserves | Other capital reservesAggregate continuing and discontinued operations | (Accumulated losses) Retained earnings | (Accumulated losses) Retained earningsAggregate continuing and discontinued operations | Fair value through OCI | Fair value through OCIAggregate continuing and discontinued operations | Actuarial (losses) gains | Actuarial (losses) gainsAggregate continuing and discontinued operations | Foreign currency translation reserve | [1] | Foreign currency translation reserveAggregate continuing and discontinued operations | [1] | Non-controlling interests | Non-controlling interestsAggregate continuing and discontinued operations |
Equity at beginning of period at Dec. 31, 2019 | $ 2,676 | $ 2,640 | $ 7,199 | $ 83 | $ (3,268) | $ 45 | $ (10) | $ (1,409) | $ 36 | |||||||||||
Profit (loss) for the period | 171 | 169 | 169 | 2 | ||||||||||||||||
Other comprehensive income (loss) | (150) | (150) | (23) | (127) | ||||||||||||||||
Total comprehensive income (loss) for the period, net of tax | $ 21 | $ 19 | $ 0 | $ 0 | $ 169 | $ (23) | $ 0 | $ (127) | $ 2 | |||||||||||
Shares issued | 10 | 10 | 10 | |||||||||||||||||
Share-based payment for share awards net of exercised | (10) | (10) | (10) | |||||||||||||||||
Dividends paid | (38) | (38) | (38) | |||||||||||||||||
Transfer on disposal and derecognition of equity investments | 0 | 0 | 4 | (4) | ||||||||||||||||
Translation | 0 | 0 | (9) | 8 | 1 | |||||||||||||||
Equity at end of period at Mar. 31, 2020 | 2,659 | 2,621 | 7,209 | 64 | (3,125) | 18 | (9) | (1,536) | 38 | |||||||||||
Equity at beginning of period at Dec. 31, 2019 | 2,676 | 2,640 | 7,199 | 83 | (3,268) | 45 | (10) | (1,409) | 36 | |||||||||||
Profit (loss) for the period | 971 | |||||||||||||||||||
Other comprehensive income (loss) | 124 | |||||||||||||||||||
Total comprehensive income (loss) for the period, net of tax | 1,095 | |||||||||||||||||||
Shares issued | 15 | |||||||||||||||||||
Equity at end of period at Dec. 31, 2020 | 3,740 | 3,695 | 7,214 | 77 | (2,341) | 131 | 1 | (1,387) | 45 | |||||||||||
Profit (loss) for the period | 209 | 203 | 203 | 6 | ||||||||||||||||
Other comprehensive income (loss) | (60) | (60) | (57) | (1) | (2) | |||||||||||||||
Total comprehensive income (loss) for the period, net of tax | $ 149 | $ 143 | $ 0 | $ 0 | $ 203 | $ (57) | $ (1) | $ (2) | $ 6 | |||||||||||
Shares issued | 5 | 5 | 5 | |||||||||||||||||
Share-based payment for share awards net of exercised | (4) | (4) | (4) | |||||||||||||||||
Dividends paid | (199) | (199) | (199) | |||||||||||||||||
Equity at end of period at Mar. 31, 2021 | $ 3,691 | $ 3,640 | $ 7,219 | $ 73 | $ (2,337) | $ 74 | $ 0 | $ (1,389) | $ 51 | |||||||||||
[1] | Foreign currency translation reserve includes a loss of $1,393m (Dec 2020: $1,396m; Mar 2020: $1,436m) that will not re-cycle through the Income statement on disposal of non-foreign operations, and a gain of $4m (Dec 2020: $9m; Mar 2020: $100m loss) relating to foreign operations that will re-cycle through the Income statement on disposal. |
Group - Statement of Changes _2
Group - Statement of Changes in Equity (Parenthetical) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | |
Other comprehensive income that will not be reclassified to profit or loss, net of tax | $ 55 | $ 79 | $ (86) |
Foreign currency translation reserve | |||
Other comprehensive income that will be reclassified to profit or loss, net of tax | 4 | 100 | 9 |
Foreign currency translation reserve | Non-foreign operations | |||
Other comprehensive income that will not be reclassified to profit or loss, net of tax | $ 1,393 | $ 1,436 | $ 1,396 |
Segmental reporting
Segmental reporting | 3 Months Ended |
Mar. 31, 2021 | |
Disclosure of entity's operating segments [Abstract] | |
Segmental reporting | Segmental reporting AngloGold Ashanti’s operating segments are being 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). Individual members of the Executive Committee are responsible for geographic regions of the business. Gold income Quarter Quarter Year ended ended ended Mar Mar Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited Africa 678 575 2,769 Australia 191 209 989 Americas 241 238 1,211 1,110 1,022 4,969 Equity-accounted joint ventures included above (154) (140) (647) Continuing operations 956 882 4,322 Discontinued operations - South Africa — 138 408 956 1,020 4,730 By-product revenue Quarter Quarter Year ended ended ended Mar Mar Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited Africa 1 1 4 Australia 1 — 3 Americas 21 22 99 23 23 106 Equity-accounted joint ventures included above — — (1) Continuing operations 23 23 105 Discontinued operations - South Africa — — 1 23 23 106 Cost of sales Quarter Quarter Year ended ended ended Mar Mar Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited Africa 431 365 1,572 Australia 167 161 705 Americas 168 194 764 Corporate and other (2) (8) (2) 764 712 3,039 Equity-accounted joint ventures included above (87) (76) (340) Continuing operations 677 636 2,699 Discontinued operations - South Africa — 101 287 677 737 2,986 Gross profit (loss) Quarter Quarter Year ended ended ended Mar Mar Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited Africa 249 211 1,201 Australia 25 49 286 Americas 93 59 532 Corporate and other 2 1 (2) 369 320 2,017 Equity-accounted joint ventures included above (67) (64) (308) Continuing operations 302 256 1,709 Discontinued operations - South Africa — 9 83 302 265 1,792 Amortisation Quarter Quarter Year ended ended ended Mar Mar Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited Africa 59 89 349 Australia 28 34 160 Americas 35 35 163 Corporate and other 1 1 2 123 159 674 Equity-accounted joint ventures included above (23) (24) (104) 100 135 570 Capital expenditure Quarter Quarter Year ended ended ended Mar Mar Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited Africa 107 92 397 Australia 50 33 143 Americas 53 61 217 Continuing operations 210 186 757 Discontinued operations - South Africa — 13 35 210 199 792 Equity-accounted joint ventures included above (11) (16) (56) 199 183 736 Total assets As at As at As at Mar Mar Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited South Africa — 577 — Africa 4,016 3,659 3,956 Australia 1,005 849 1,044 Americas 1,578 1,433 1,626 Corporate and other 797 1,632 1,046 7,396 8,150 7,672 |
Basis of preparation
Basis of preparation | 3 Months Ended |
Mar. 31, 2021 | |
Disclosure of interim financial reporting [Abstract] | |
Basis of preparation | Basis of preparation The financial statements in this report have been prepared in accordance with the historic cost convention except for certain financial instruments which are stated at fair value. While AngloGold Ashanti has prepared interim financial statements for the three months ended 31 March 2021, its normal reporting periods remain unchanged. Accordingly, the group prepares interim financial statements for the six months ended 30 June and 31 December, and annual financial statements for the year ended 31 December. The group’s accounting policies used in the preparation of these financial statements are consistent with those used in the annual financial statements for the year ended 31 December 2020, except for the adoption of new or amended standards applicable from 1 January 2021, which had no material impact on the financial statements of the group. The condensed consolidated interim financial statements of AngloGold Ashanti have been prepared in compliance with the framework concepts and the measurement and recognition requirements of the International Financial Reporting Standard, IAS 34 Interim Financial Reporting as issued by the International Accounting Standards Board (IASB), the South African Institute of Chartered Accountants (SAICA) Financial Reporting Guides as issued by the Accounting Practices Committee, the Financial Reporting Pronouncements as issued by the Financial Reporting Standards Council, the JSE Listings Requirements and in the manner required by the South African Companies Act, No. 71 of 2008 (as amended) for the preparation of financial information of the group for the three months ended 31 March 2021. These financial statements should be read in conjunction with the Company’s audited consolidated financial statements and the notes thereto as at and for the year ended 31 December 2020. |
Revenue
Revenue | 3 Months Ended |
Mar. 31, 2021 | |
Disclosure of revenue [Abstract] | |
Revenue | Revenue Quarter Quarter Year ended ended ended Mar Mar Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited Gold income 956 882 4,322 By-products 23 23 105 Revenue from product sales 979 905 4,427 |
Cost of sales
Cost of sales | 3 Months Ended |
Mar. 31, 2021 | |
Cost of Sales [Abstract] | |
Cost of sales | Cost of sales Quarter Quarter Year ended ended ended Mar Mar Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited Cash operating costs 519 415 1,881 Royalties 40 37 181 Other cash costs 3 3 12 Total cash costs 562 455 2,074 Retrenchment costs — 1 2 Rehabilitation and other non-cash costs (7) 29 32 Amortisation of tangible assets 85 123 521 Amortisation of right of use assets 14 11 47 Amortisation of intangible assets 1 1 2 Inventory change 22 16 21 677 636 2,699 |
Other expenses (income)
Other expenses (income) | 3 Months Ended |
Mar. 31, 2021 | |
Disclosure of other operating income (expense) [Abstract] | |
Other expenses (income) | Other expenses (income) Quarter Quarter Year ended ended ended Mar Mar Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited Government fiscal claims, cost of old tailings operations and other expenses (1) 12 20 Pension and medical defined benefit provisions 2 2 8 Royalty received (1) (1) (2) Royalty receivables impaired — — 4 Retrenchment and related costs 1 — — Legal fees and project costs — 1 9 Refund from insurance claim — (5) (5) Other indirect taxes 1 11 23 2 20 57 |
Finance costs and unwinding of
Finance costs and unwinding of obligations | 3 Months Ended |
Mar. 31, 2021 | |
Disclosure of finance costs and unwinding of obligations [Abstract] | |
Finance costs and unwinding of obligations | Finance costs and unwinding of obligations Quarter Quarter Year ended ended ended Mar Mar Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited Finance costs - borrowings 24 31 130 Finance costs - leases 2 2 8 Unwinding of obligations 4 10 39 30 43 177 |
Share of associates and joint v
Share of associates and joint ventures' profit | 3 Months Ended |
Mar. 31, 2021 | |
Disclosure of share of associates and joint ventures’ profit (loss) [Abstract] | |
Share of associates and joint ventures' profit | Share of associates and joint ventures' profit Quarter Quarter Year ended ended ended Mar Mar Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited Revenue 162 148 677 Operating costs and other expenses (90) (80) (353) Profit on sale of joint ventures — — 19 Net interest received (paid) 2 3 5 Profit (loss) before taxation 74 71 348 Taxation (17) (13) (70) Profit (loss) after taxation 57 58 278 |
Taxation
Taxation | 3 Months Ended |
Mar. 31, 2021 | |
Disclosure of income tax [Abstract] | |
Taxation | Taxation Quarter Quarter Year ended ended ended Mar Mar Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited South African taxation Normal taxation — — 1 Deferred taxation Other temporary differences (1) — (6) 74 — (6) 75 Foreign taxation Normal taxation 62 93 553 Prior year under (over) provision — — 8 Deferred taxation Temporary differences (2) 5 10 9 Prior year under (over) provision — — (6) Change in estimate 3 (2) (14) 70 101 550 70 95 625 (1) Included in other temporary differences in South African taxation for the year ended 31 December 2020 are deferred tax assets of $78m, which were derecognised during the fourth quarter of 2020; $9m thereof as part of the disposal of the South African assets and the remaining $69m on consideration of future recoverability. (2) Temporary differences in Foreign taxation for the quarter ended 31 March 2021 include amounts giving rise to deferred tax assets (limited to generated taxable income) at Obuasi of $12m (Dec 2020: $7m). 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. 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 $7m (2020: $8m). 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 engagement with the Brazil 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 $18m (2020: $20m) 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 Brazil 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 $81m (1) (2020: $86m) 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 as at 31 March 2021. 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 $52m (2020: $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 has been made. (1) Includes reduction of overall exposure by $52m (2020: $76m) as described above. Ghana - Iduapriem The Ghana Revenue Authority completed a tax audit during the third quarter of 2020 for the 2018 year of assessment claiming a tax liability of $15m (2020: $15m). The claim relates to corporate income taxes, where certain business expenses have been disallowed as a deduction for tax purposes. Management filed an objection to the assessment in September 2020 and is of the opinion that the Ghana Revenue Authority is unlikely to succeed in this matter and therefore no provision has been made. Guinea - Siguiri The Guinea Tax Authority has challenged certain aspects of the Company's tax return for the 2010 year of assessment totalling $8m (attributable) (2020: $8m (attributable)). Management has objected to the assessment. However provision has been made for a portion of the total claims amounting to $2m (attributable) (2020: $2m (attributable)). Tanzania - Geita The Tanzania Revenue Authority has raised audit findings on various tax matters for years from 2009 to 2019 amounting to $262m (2020: $254m) including an adjusted tax assessment relating to the years from 2015 to 2017 of $8m received in February 2021. In addition, the Tanzania Revenue Authority has issued Agency Notices on various local bank accounts of the Company in Tanzania, enforcing payments from those bank accounts, despite the matters being on appeal. In order to continue operating its bank accounts and to not impact operations, Geita paid various amounts under protest. Management has objected and appealed through various levels of the legislative processes. Management is of the opinion that the claims of the Tanzania Revenue Authority are unlikely to succeed. In addition, it should be noted that amendments passed to Tanzanian 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. Tax impacts of COVID-19 As a result of the COVID-19 pandemic, governments have responded with various stimulus packages, to provide relief to companies and individuals, to ensure business and employment continuity. This has been achieved through various tax and employment concessions, over varying periods, mostly commencing in April 2020. In North America, the US Government passed the Coronavirus Aid, Relief and Economic Security (CARES) Act on 27 March 2020. The bill provides various tax relief and incentives such as accelerated access to tax attributes created under the Tax Cuts and Jobs Act of 2017 (TCJA) and resulted in an alternative minimum tax refund of $7m received during the first quarter of 2021. Other tax jurisdictions have provided tax relief in various forms to companies which will impact on tax planning and tax payments in the light of the uncertainty created by the pandemic. Management continues to evaluate these tax measures and applies them when appropriate. |
Headline earnings
Headline earnings | 3 Months Ended |
Mar. 31, 2021 | |
Disclosure of earnings per share [Notes] [Abstract] | |
Headline earnings | Headline earnings Quarter Quarter Year ended ended ended Mar Mar Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited The profit (loss) attributable to equity shareholders has been adjusted by the following to arrive at headline earnings (loss): Profit (loss) attributable to equity shareholders 203 169 953 Net impairment (impairment reversal) on held for sale assets (1) — (26) (17) (Profit) loss on disposal of discontinued operations — (2) 80 Taxation on profit (loss) on disposal of discontinued operations — 1 1 Profit (loss) on disposal of joint ventures (1) — — (19) Net loss (profit) on disposal of tangible assets (1) — 1 2 Headline earnings (loss) 203 143 1,000 Headline earnings (loss) per ordinary share (US cents) (2) 48 34 238 Diluted headline earnings (loss) per ordinary share (US cents) (3) 48 34 238 (1) Tax effect has not been disclosed as the tax is less than $1m. (2) Calculated on the basic weighted average number of ordinary shares. (3) Calculated on the diluted weighted average number of ordinary shares. Number of shares Ordinary shares 417,005,830 415,578,197 416,399,307 Fully vested options 1,829,548 2,263,237 2,634,209 Weighted average number of shares 418,835,378 417,841,434 419,033,516 Dilutive potential of share options — 644,570 447,934 Dilutive number of ordinary shares 418,835,378 418,486,004 419,481,450 |
Share capital and premium
Share capital and premium | 3 Months Ended |
Mar. 31, 2021 | |
Share Capital, Reserves And Other Equity Interest [Abstract] | |
Share capital and premium | Share capital and premium As at As at As at Mar Mar Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited 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 cents each — — — 30,000,000 C redeemable preference shares at no par value — — — 23 23 23 Issued and fully paid: 417,254,176 (Dec 2020: 416,890,087; Mar 2020: 416,340,033) ordinary shares in issue of 25 SA cents each 17 17 17 2,000,000 A redeemable preference shares of 50 SA cents each — — — 778,896 B redeemable preference shares of 1 SA cent each — — — 17 17 17 Treasury shares held within the group 2,778,896 A and B redeemable preference shares — — — 17 17 17 Share premium Balance at beginning of period 7,250 7,235 7,235 Ordinary shares issued 5 10 15 7,255 7,245 7,250 Less: held within the group Redeemable preference shares (53) (53) (53) Balance at end of period 7,202 7,192 7,197 Share capital and premium 7,219 7,209 7,214 |
Borrowings
Borrowings | 3 Months Ended |
Mar. 31, 2021 | |
Disclosure of borrowing costs [Abstract] | |
Borrowings | Borrowings AngloGold Ashanti’s borrowings are interest bearing. As at As at As at Mar Mar Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited Change in liabilities arising from financing activities: Reconciliation of borrowings (excluding lease liabilities) A reconciliation of the total borrowings included in the statement of financial position is set out in the following table: Opening balance 1,931 2,033 2,033 Proceeds from borrowings — 1,526 2,226 Repayment of borrowings — (62) (2,310) Finance costs paid on borrowings (38) (26) (114) Interest charged to the income statement 26 32 115 Other borrowing cost — — (15) Deferred loan fees — — 4 Translation — (23) (8) Closing balance 1,919 3,480 1,931 Reconciliation of finance costs paid (excluding lease finance costs) A reconciliation of the finance costs paid included in the statement of cash flows is set out in the following table: Finance costs paid on borrowings 38 26 114 Capitalised finance cost (4) (4) (17) Commitment fees, environmental guarantees fees and other 2 3 13 Total finance costs paid 36 25 110 Reconciliation of lease liabilities Opening balance 153 171 171 Lease liabilities recognised 15 3 23 Repayment of lease liabilities (14) (11) (47) Finance costs paid on lease liabilities (2) (2) (8) Interest charged to the income statement 2 2 8 Change in estimate — — (1) Translation (2) (19) 7 Closing balance 152 144 153 LIBOR linked borrowings The Interest Rate Benchmark Reform - Phase 2 Amendments will have an effect on the group financial statements. The group has revolving credit facilities (RCFs) which reference LIBOR, some of which extend beyond 2021. These facilities have yet to transfer to an alternative benchmark interest rate. The table below provides the details of these agreements: US Dollar million Carrying value Repayable Repayable Siguiri RCF ($65m) (1) 67 2 65 Geita RCF ($150m) (2) 66 66 — Multi-currency syndicated RCF ($1.4bn) (3) — — — (1) The Siguiri RCF currently bears interest at LIBOR plus 8.5%. The Siguiri RCF was fully drawn at 31 March 2021 and matures in May 2022. (2) The Geita RCF consists of a Tanzanian shilling component which is capped at the equivalent of US$45m and this component bears interest at 12.5%. The remaining component currently bears interest at LIBOR plus 6.7%. The equivalent of $41m was undrawn under the Geita RCF at 31 March 2021. The Geita RCF matures in June 2021. (3) The $1.4bn multi-currency RCF was undrawn at 31 March 2021 and is available until October 2023. |
Cash generated from operations
Cash generated from operations | 3 Months Ended |
Mar. 31, 2021 | |
Statement of cash flows [abstract] | |
Cash generated from operations | Cash generated from operations Quarter Quarter Year ended ended ended Mar Mar Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited Profit (loss) before taxation 279 231 1,589 Adjusted for: Movement on non-hedge derivatives and other commodity contracts — 12 — Amortisation of tangible and right of use assets 99 134 568 Amortisation of intangible assets 1 1 2 Finance costs and unwinding of obligations 30 43 177 Environmental rehabilitation and other expenditure (30) (9) (50) Impairment, derecognition of assets and (profit) loss on disposal — — (1) Other expenses (income) 2 26 51 Profit (loss) on sale of assets (1) — — Interest income (14) (5) (27) Share of associates and joint ventures' (profit) loss (57) (58) (278) Other non-cash movements 4 (14) 35 Movements in working capital (79) (137) (238) 234 224 1,828 Movements in working capital: (Increase) decrease in inventories 60 (46) (83) (Increase) decrease in trade and other receivables (57) (19) (163) Increase (decrease) in trade, other payables and provisions (82) (72) 8 (79) (137) (238) |
Financial risk management activ
Financial risk management activities | 3 Months Ended |
Mar. 31, 2021 | |
Disclosure of detailed information about financial instruments [abstract] | |
Financial risk management activities | Financial risk management activities 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). 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, other receivables and other assets and trade and other payables The carrying amounts approximate fair value due to their short-term nature. Investments Listed equity investments classified as fair value through other comprehensive income (FVTOCI) and fair value through profit and loss (FVTPL) are carried at fair value in level 1 of the fair value hierarchy . Borrowings The rated bonds are carried at amortised cost and their fair values, in level 1 of the fair value hierarchy, are their closing market values at the reporting date which results in the difference noted in the table below. 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 the fair value. As at As at As at Mar Mar Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited Carrying amount 1,919 3,480 1,931 Fair value 2,043 3,477 2,131 Other financial assets and financial liabilities The following tables set out the group’s financial assets and liabilities measured at fair value by level within the fair value hierarchy: Types of instruments: Securities Mar 2021 Mar 2020 Dec 2020 Unaudited Unaudited Audited US Dollar million Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Financial assets measured at fair value: Other equity securities FVTPL (1) — — 14 14 — Other equity securities FVOCI 127 127 47 47 186 186 Deferred compensation asset 28 28 28 28 Financial liabilities measured at fair value: Gold and oil derivative contracts (2) 13 13 (1) Included in equity securities - FVTPL are amounts transferred to held for sale (2) The fair values of the gold and oil derivative contracts are determined by using the applicable valuation models for each type with the key inputs being forward prices, the number of outstanding ounces or barrels on open contracts and volatilities. Level 3 financial assets On 12 February 2020, AngloGold Ashanti announced that it had reached an agreement to sell its remaining South African producing assets and related liabilities to Harmony Gold Mining Company Limited (Harmony). The transaction closed on 30 September 2020. Consideration for the transaction is in cash and deferred payments, subject to subsequent performance, and with additional proceeds if the West Wits assets are developed below current infrastructure. The two components of the deferred compensation assets are calculated as follows: a. $260 per ounce payable on all underground production sourced within the West Wits mineral rights (comprising the Mponeng, Savuka and TauTona mines) in excess of 250,000 ounces per annum for 6 years commencing 1 January 2021. Using a probability weighted calculation of unobservable market data and estimated with reference to expected underlying discounted cash flows a deferred compensation asset of $28m is being recognised in the statement of financial position as at 31 March 2021. If the weighted number of ounces used in the weighted probability calculation increases with 10% over the period calculated, the asset value would increase with approximately $3m and if the weighted number of ounces used in the weighted probability calculation decreases with 10% over the period calculated the value of the asset would decrease with approximately $3m. The sensitivity on the weighted number of ounces included within the weighted probability calculation has been based on the range of possible outcomes expected from Harmony’s mining plans, which could differ from the actual mining plans followed by Harmony. b. $20 per ounce payable on underground production sourced within the West Wits mineral rights (comprising the Mponeng, Savuka and TauTona mines) below the datum of current infrastructure. At transaction date this constituted 8.53 million ounces of reserves. The consideration is dependent on Harmony developing below infrastructure. The performance of this obligation is outside the influence of AngloGold Ashanti as it depends on Harmony’s future investment decisions. Under the conditions prevailing as at 31 March 2021 no portion of deferred compensation below infrastructure has been recognised. Environmental obligations Pursuant to environmental regulations in the countries in which we operate, in connection with plans for the eventual end-of-life of our mines, we are obligated to rehabilitate the lands where such mines are located. In most cases, AngloGold Ashanti is required to provide financial guarantees for such work, including reclamation bonds or letters of credit issued by third party entities, independent trust funds or cash reserves maintained 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 estimated environmental rehabilitation obligations. In most cases, the environmental obligations will expire on completion of the rehabilitation although, in some cases, we may be required to post bonds for potential events or conditions that could arise after the rehabilitation has been completed. In Australia, since 2014, we have paid into a Mine Rehabilitation Fund an amount of AUD $8.2m for a current carrying value of the liability of AUD $134.9m. At Iduapriem, we have provided a bond comprising of a cash component of $10.2m with a further bond guarantee amounting to $38.6m issued by Ecobank Ghana Limited and Standard Chartered Bank Ghana Ltd for a current carrying value of the liability of $52m. At Obuasi, we have provided a bond comprising of a cash component of $21.34m with a further bank guarantee amounting to $30m issued by Stanbic Bank Ghana Limited and United Bank for Africa Ghana Limited (UBA) for a current carrying value of the liability of $198.2m. In some circumstances we may be required to post further bonds in due course which will have a consequential income statement charge for the fees charged by the providers of the reclamation bonds. |
Capital commitments
Capital commitments | 3 Months Ended |
Mar. 31, 2021 | |
Capital commitments [abstract] | |
Capital commitments | Capital commitments As at As at As at Mar Mar Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited Orders placed and outstanding on capital contracts at the prevailing rate of exchange (1) 182 198 120 (1) Includes the group's attributable share of capital commitments relating to associates and joint ventures and nil (Mar 2020: $7m, Dec 2020: nil) relating to discontinued operations. Liquidity and capital resources To service the above capital commitments and other operational requirements, the group is dependent on existing cash resources, cash generated from operations and borrowing facilities. Cash generated from operations is subject to operational, market and other risks. Distributions from operations may be subject to foreign investment, 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 above commitments. The financing facilities which mature in the near future are disclosed in current liabilities. The group believes that sufficient measures are in place to ensure that these facilities can be refinanced. |
Contractual commitments and con
Contractual commitments and contingencies | 3 Months Ended |
Mar. 31, 2021 | |
Disclosure of other provisions, contingent liabilities and contingent assets [Abstract] | |
Contractual commitments and contingencies | Contractual commitments and contingencies AngloGold Ashanti's material contingent liabilities and assets at 31 March 2021 and 31 December 2020 are detailed below: Contingencies and guarantees Mar 2021 Dec 2020 US Dollar million Unaudited Audited Contingent liabilities Litigation – Ghana (1) (2) 97 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 was constituted and on 26 July 2019 held an arbitration management meeting to address initial procedural matters. On 1 May 2020, the Ghana Arbitration Centre notified the parties that the Tribunal has granted the Claimant’s request to adjourn the proceedings indefinitely to enable the parties to explore possible settlement. On 12 April 2021, the parties executed a settlement agreement to resolve the matter. (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. Tax claims For a discussion on tax claims and tax uncertainties refer to note 7. |
Restatement of prior year discl
Restatement of prior year disclosures | 3 Months Ended |
Mar. 31, 2021 | |
Disclosure of reclassifications or changes in presentation [abstract] | |
Restatement of prior year disclosures | Restatement of prior year disclosures Statement of comprehensive income During 2020, the group completed the sale of its South African operations, including several South African subsidiaries. As a result of the sale, the Foreign Currency Translation Reserve (FCTR) balance was reassessed. It was determined that the FCTR, which had originated from non-foreign operations would not recycle through the income statement. Non-foreign operations are those entities with the same functional currency (ZAR) as the AngloGold Ashanti Limited parent company, which is different to the group presentation currency (USD). IAS 21 is silent regarding such a situation where a subsidiary is partially or fully disposed of resulting in a partial or full release of the FCTR associated with the subsidiary. The Statement of comprehensive income previously disclosed all foreign currency translation differences as “Items that will be reclassified subsequently to profit or loss”. As a result of the reassessment, the FCTR has been split between “Items that will be reclassified subsequently to profit or loss” and “Items that will not be reclassified subsequently to profit or loss”. The comparatives have been restated to include the revised disclosure. The adjustment has no impact on reported totals in the statement of comprehensive income of profit (loss) for the period; other comprehensive income (loss) for the period, net of tax; total comprehensive income (loss) for the period, net of tax; or on earnings per share or headline earnings per share for the period. Quarter Quarter ended ended Mar 2020 Mar 2020 US Dollar Million As previously reported Adjustments Restated Profit for the period 171 — 171 Items that will be reclassified subsequently to profit or loss: Exchange differences on translation of foreign operations (127) 56 (71) Items that will not be reclassified subsequently to profit or loss: Exchange differences on translation of non-foreign operations — (56) (56) Net gain (loss) on equity investments (25) — (25) Deferred taxation thereon 2 — 2 (23) (56) (79) Other comprehensive income ( loss) for the period, net of tax (150) — (150) Total comprehensive income (loss) for the period, net of tax 21 — 21 |
COVID-19 pandemic
COVID-19 pandemic | 3 Months Ended |
Mar. 31, 2021 | |
COVID-19 pandemic [Abstract] | |
COVID-19 pandemic | COVID-19 pandemic AngloGold Ashanti continues to respond to the evolving COVID-19 pandemic while contributing to the global effort to stop the spread of the virus and provide public health and economic relief to local communities. The Company has taken a number of proactive steps to protect employees, host communities and the business itself. These steps have been in line with the Company's values, the requirements of the countries in which we operate, and guidelines provided by the World Health Organisation (WHO). The health and well-being of our employees and our host communities remains a key priority for us. Multiple waves of the outbreak are being experienced in several of our operating jurisdictions, coinciding with the prevalence of new, more contagious variants of the virus. Continued diligence is being observed to strict health protocols and vigilance in relation to business continuity including supply chain. We remain mindful that the COVID-19 pandemic, its impacts on communities and economies, and the actions authorities may take in response to it, are subject to change. During the first quarter of 2021, our Brazilian operations and the Obuasi mine were most affected as new variants of the virus caused greater community infections, leading to an increase in general absenteeism and the number of employees in quarantine and isolation, with a consequent impact on productivity at those operations. While infection rates in Brazil and Ghana have since declined from those recent peaks, the number of cases in Brazil – and in several other countries in South America – remains high. In addition, the Cerro Vanguardia mine continues to operate at between 60% to 80% mining capacity due to ongoing inter-provincial travel restrictions in Argentina, which continues to prevent certain employees from travelling to the site. Access to vaccines is currently limited to national health authorities and the countries where AngloGold Ashanti operates, and have started with their first phase of roll-out programmes. Our operations in Ghana and Guinea have been included in the first phase roll-out plans. At the end of March, in Ghana, Obuasi and Iduapriem have already administered first doses covering 33% and 67% of the workforce respectively. Siguiri has also administered first doses covering 33% of the workforce and 100% coverage of identified high risk individuals. We continue to monitor developments in this regard, both locally and across the jurisdictions that we operate in, as well as continue to implement and strengthen controls onsite and at communities. |
Basis of preparation (Policies)
Basis of preparation (Policies) | 3 Months Ended |
Mar. 31, 2021 | |
Common Domain Members [Abstract] | |
Basis of preparation | The financial statements in this report have been prepared in accordance with the historic cost convention except for certain financial instruments which are stated at fair value. While AngloGold Ashanti has prepared interim financial statements for the three months ended 31 March 2021, its normal reporting periods remain unchanged. Accordingly, the group prepares interim financial statements for the six months ended 30 June and 31 December, and annual financial statements for the year ended 31 December. The group’s accounting policies used in the preparation of these financial statements are consistent with those used in the annual financial statements for the year ended 31 December 2020, except for the adoption of new or amended standards applicable from 1 January 2021, which had no material impact on the financial statements of the group. The condensed consolidated interim financial statements of AngloGold Ashanti have been prepared in compliance with the framework concepts and the measurement and recognition requirements of the International Financial Reporting Standard, IAS 34 Interim Financial Reporting as issued by the International Accounting Standards Board (IASB), the South African Institute of Chartered Accountants (SAICA) Financial Reporting Guides as issued by the Accounting Practices Committee, the Financial Reporting Pronouncements as issued by the Financial Reporting Standards Council, the JSE Listings Requirements and in the manner required by the South African Companies Act, No. 71 of 2008 (as amended) for the preparation of financial information of the group for the three months ended 31 March 2021. These financial statements should be read in conjunction with the Company’s audited consolidated financial statements and the notes thereto as at and for the year ended 31 December 2020. |
Segmental reporting (Tables)
Segmental reporting (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Disclosure of entity's operating segments [Abstract] | |
Disclosure of Segmental Information | Gold income Quarter Quarter Year ended ended ended Mar Mar Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited Africa 678 575 2,769 Australia 191 209 989 Americas 241 238 1,211 1,110 1,022 4,969 Equity-accounted joint ventures included above (154) (140) (647) Continuing operations 956 882 4,322 Discontinued operations - South Africa — 138 408 956 1,020 4,730 By-product revenue Quarter Quarter Year ended ended ended Mar Mar Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited Africa 1 1 4 Australia 1 — 3 Americas 21 22 99 23 23 106 Equity-accounted joint ventures included above — — (1) Continuing operations 23 23 105 Discontinued operations - South Africa — — 1 23 23 106 Cost of sales Quarter Quarter Year ended ended ended Mar Mar Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited Africa 431 365 1,572 Australia 167 161 705 Americas 168 194 764 Corporate and other (2) (8) (2) 764 712 3,039 Equity-accounted joint ventures included above (87) (76) (340) Continuing operations 677 636 2,699 Discontinued operations - South Africa — 101 287 677 737 2,986 Gross profit (loss) Quarter Quarter Year ended ended ended Mar Mar Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited Africa 249 211 1,201 Australia 25 49 286 Americas 93 59 532 Corporate and other 2 1 (2) 369 320 2,017 Equity-accounted joint ventures included above (67) (64) (308) Continuing operations 302 256 1,709 Discontinued operations - South Africa — 9 83 302 265 1,792 Amortisation Quarter Quarter Year ended ended ended Mar Mar Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited Africa 59 89 349 Australia 28 34 160 Americas 35 35 163 Corporate and other 1 1 2 123 159 674 Equity-accounted joint ventures included above (23) (24) (104) 100 135 570 Capital expenditure Quarter Quarter Year ended ended ended Mar Mar Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited Africa 107 92 397 Australia 50 33 143 Americas 53 61 217 Continuing operations 210 186 757 Discontinued operations - South Africa — 13 35 210 199 792 Equity-accounted joint ventures included above (11) (16) (56) 199 183 736 Total assets As at As at As at Mar Mar Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited South Africa — 577 — Africa 4,016 3,659 3,956 Australia 1,005 849 1,044 Americas 1,578 1,433 1,626 Corporate and other 797 1,632 1,046 7,396 8,150 7,672 |
Revenue (Tables)
Revenue (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Disclosure of revenue [Abstract] | |
Disclosure of revenue | Quarter Quarter Year ended ended ended Mar Mar Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited Gold income 956 882 4,322 By-products 23 23 105 Revenue from product sales 979 905 4,427 |
Cost of sales (Tables)
Cost of sales (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Cost of Sales [Abstract] | |
Cost of sales by cost | Quarter Quarter Year ended ended ended Mar Mar Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited Cash operating costs 519 415 1,881 Royalties 40 37 181 Other cash costs 3 3 12 Total cash costs 562 455 2,074 Retrenchment costs — 1 2 Rehabilitation and other non-cash costs (7) 29 32 Amortisation of tangible assets 85 123 521 Amortisation of right of use assets 14 11 47 Amortisation of intangible assets 1 1 2 Inventory change 22 16 21 677 636 2,699 |
Other expenses (income) (Tables
Other expenses (income) (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Disclosure of other operating income (expense) [Abstract] | |
Other operating income (expense) | Quarter Quarter Year ended ended ended Mar Mar Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited Government fiscal claims, cost of old tailings operations and other expenses (1) 12 20 Pension and medical defined benefit provisions 2 2 8 Royalty received (1) (1) (2) Royalty receivables impaired — — 4 Retrenchment and related costs 1 — — Legal fees and project costs — 1 9 Refund from insurance claim — (5) (5) Other indirect taxes 1 11 23 2 20 57 |
Finance costs and unwinding o_2
Finance costs and unwinding of obligations (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Disclosure of finance costs and unwinding of obligations [Abstract] | |
Disclosure of finance costs and unwinding of obligations by item | Quarter Quarter Year ended ended ended Mar Mar Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited Finance costs - borrowings 24 31 130 Finance costs - leases 2 2 8 Unwinding of obligations 4 10 39 30 43 177 |
Share of associates and joint_2
Share of associates and joint ventures' profit (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Disclosure of share of associates and joint ventures’ profit (loss) [Abstract] | |
Share of associates and joint ventures' profit (loss) | Quarter Quarter Year ended ended ended Mar Mar Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited Revenue 162 148 677 Operating costs and other expenses (90) (80) (353) Profit on sale of joint ventures — — 19 Net interest received (paid) 2 3 5 Profit (loss) before taxation 74 71 348 Taxation (17) (13) (70) Profit (loss) after taxation 57 58 278 |
Taxation (Tables)
Taxation (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Disclosure of income tax [Abstract] | |
Disclosure of income tax expense | Quarter Quarter Year ended ended ended Mar Mar Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited South African taxation Normal taxation — — 1 Deferred taxation Other temporary differences (1) — (6) 74 — (6) 75 Foreign taxation Normal taxation 62 93 553 Prior year under (over) provision — — 8 Deferred taxation Temporary differences (2) 5 10 9 Prior year under (over) provision — — (6) Change in estimate 3 (2) (14) 70 101 550 70 95 625 (1) Included in other temporary differences in South African taxation for the year ended 31 December 2020 are deferred tax assets of $78m, which were derecognised during the fourth quarter of 2020; $9m thereof as part of the disposal of the South African assets and the remaining $69m on consideration of future recoverability. (2) Temporary differences in Foreign taxation for the quarter ended 31 March 2021 include amounts giving rise to deferred tax assets (limited to generated taxable income) at Obuasi of $12m (Dec 2020: $7m). |
Headline earnings (Tables)
Headline earnings (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Disclosure of earnings per share [Abstract] | |
Headline Earnings | Quarter Quarter Year ended ended ended Mar Mar Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited The profit (loss) attributable to equity shareholders has been adjusted by the following to arrive at headline earnings (loss): Profit (loss) attributable to equity shareholders 203 169 953 Net impairment (impairment reversal) on held for sale assets (1) — (26) (17) (Profit) loss on disposal of discontinued operations — (2) 80 Taxation on profit (loss) on disposal of discontinued operations — 1 1 Profit (loss) on disposal of joint ventures (1) — — (19) Net loss (profit) on disposal of tangible assets (1) — 1 2 Headline earnings (loss) 203 143 1,000 Headline earnings (loss) per ordinary share (US cents) (2) 48 34 238 Diluted headline earnings (loss) per ordinary share (US cents) (3) 48 34 238 (1) Tax effect has not been disclosed as the tax is less than $1m. (2) Calculated on the basic weighted average number of ordinary shares. (3) Calculated on the diluted weighted average number of ordinary shares. Number of shares Ordinary shares 417,005,830 415,578,197 416,399,307 Fully vested options 1,829,548 2,263,237 2,634,209 Weighted average number of shares 418,835,378 417,841,434 419,033,516 Dilutive potential of share options — 644,570 447,934 Dilutive number of ordinary shares 418,835,378 418,486,004 419,481,450 |
Share capital and premium (Tabl
Share capital and premium (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Share Capital, Reserves And Other Equity Interest [Abstract] | |
Disclosure of share capital | As at As at As at Mar Mar Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited 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 cents each — — — 30,000,000 C redeemable preference shares at no par value — — — 23 23 23 Issued and fully paid: 417,254,176 (Dec 2020: 416,890,087; Mar 2020: 416,340,033) ordinary shares in issue of 25 SA cents each 17 17 17 2,000,000 A redeemable preference shares of 50 SA cents each — — — 778,896 B redeemable preference shares of 1 SA cent each — — — 17 17 17 Treasury shares held within the group 2,778,896 A and B redeemable preference shares — — — 17 17 17 Share premium Balance at beginning of period 7,250 7,235 7,235 Ordinary shares issued 5 10 15 7,255 7,245 7,250 Less: held within the group Redeemable preference shares (53) (53) (53) Balance at end of period 7,202 7,192 7,197 Share capital and premium 7,219 7,209 7,214 |
Borrowings (Tables)
Borrowings (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Disclosure of borrowing costs [Abstract] | |
Disclosure of detailed information about borrowings | AngloGold Ashanti’s borrowings are interest bearing. As at As at As at Mar Mar Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited Change in liabilities arising from financing activities: Reconciliation of borrowings (excluding lease liabilities) A reconciliation of the total borrowings included in the statement of financial position is set out in the following table: Opening balance 1,931 2,033 2,033 Proceeds from borrowings — 1,526 2,226 Repayment of borrowings — (62) (2,310) Finance costs paid on borrowings (38) (26) (114) Interest charged to the income statement 26 32 115 Other borrowing cost — — (15) Deferred loan fees — — 4 Translation — (23) (8) Closing balance 1,919 3,480 1,931 Reconciliation of finance costs paid (excluding lease finance costs) A reconciliation of the finance costs paid included in the statement of cash flows is set out in the following table: Finance costs paid on borrowings 38 26 114 Capitalised finance cost (4) (4) (17) Commitment fees, environmental guarantees fees and other 2 3 13 Total finance costs paid 36 25 110 US Dollar million Carrying value Repayable Repayable Siguiri RCF ($65m) (1) 67 2 65 Geita RCF ($150m) (2) 66 66 — Multi-currency syndicated RCF ($1.4bn) (3) — — — (1) The Siguiri RCF currently bears interest at LIBOR plus 8.5%. The Siguiri RCF was fully drawn at 31 March 2021 and matures in May 2022. (2) The Geita RCF consists of a Tanzanian shilling component which is capped at the equivalent of US$45m and this component bears interest at 12.5%. The remaining component currently bears interest at LIBOR plus 6.7%. The equivalent of $41m was undrawn under the Geita RCF at 31 March 2021. The Geita RCF matures in June 2021. (3) The $1.4bn multi-currency RCF was undrawn at 31 March 2021 and is available until October 2023. |
Reconciliation of lease labilities | Reconciliation of lease liabilities Opening balance 153 171 171 Lease liabilities recognised 15 3 23 Repayment of lease liabilities (14) (11) (47) Finance costs paid on lease liabilities (2) (2) (8) Interest charged to the income statement 2 2 8 Change in estimate — — (1) Translation (2) (19) 7 Closing balance 152 144 153 |
Cash generated from operations
Cash generated from operations (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Statement of cash flows [abstract] | |
Schedule of cash generated from operations | Quarter Quarter Year ended ended ended Mar Mar Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited Profit (loss) before taxation 279 231 1,589 Adjusted for: Movement on non-hedge derivatives and other commodity contracts — 12 — Amortisation of tangible and right of use assets 99 134 568 Amortisation of intangible assets 1 1 2 Finance costs and unwinding of obligations 30 43 177 Environmental rehabilitation and other expenditure (30) (9) (50) Impairment, derecognition of assets and (profit) loss on disposal — — (1) Other expenses (income) 2 26 51 Profit (loss) on sale of assets (1) — — Interest income (14) (5) (27) Share of associates and joint ventures' (profit) loss (57) (58) (278) Other non-cash movements 4 (14) 35 Movements in working capital (79) (137) (238) 234 224 1,828 Movements in working capital: (Increase) decrease in inventories 60 (46) (83) (Increase) decrease in trade and other receivables (57) (19) (163) Increase (decrease) in trade, other payables and provisions (82) (72) 8 (79) (137) (238) |
Financial risk management act_2
Financial risk management activities (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Disclosure of detailed information about financial instruments [abstract] | |
Summary of carrying amount and fair value | As at As at As at Mar Mar Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited Carrying amount 1,919 3,480 1,931 Fair value 2,043 3,477 2,131 |
Disclosure of fair value of assets measured on a recurring basis | The following tables set out the group’s financial assets and liabilities measured at fair value by level within the fair value hierarchy: Types of instruments: Securities Mar 2021 Mar 2020 Dec 2020 Unaudited Unaudited Audited US Dollar million Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Financial assets measured at fair value: Other equity securities FVTPL (1) — — 14 14 — Other equity securities FVOCI 127 127 47 47 186 186 Deferred compensation asset 28 28 28 28 Financial liabilities measured at fair value: Gold and oil derivative contracts (2) 13 13 (1) Included in equity securities - FVTPL are amounts transferred to held for sale (2) The fair values of the gold and oil derivative contracts are determined by using the applicable valuation models for each type with the key inputs being forward prices, the number of outstanding ounces or barrels on open contracts and volatilities. |
Capital commitments (Tables)
Capital commitments (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Contractual Capital Commitments [Abstract] | |
Summary of capital commitments | As at As at As at Mar Mar Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited Orders placed and outstanding on capital contracts at the prevailing rate of exchange (1) 182 198 120 (1) Includes the group's attributable share of capital commitments relating to associates and joint ventures and nil (Mar 2020: $7m, Dec 2020: nil) relating to discontinued operations. |
Contractual commitments and c_2
Contractual commitments and contingencies (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Disclosure of other provisions, contingent liabilities and contingent assets [Abstract] | |
Disclosure of contingent liabilities and assets | AngloGold Ashanti's material contingent liabilities and assets at 31 March 2021 and 31 December 2020 are detailed below: Contingencies and guarantees Mar 2021 Dec 2020 US Dollar million Unaudited Audited Contingent liabilities Litigation – Ghana (1) (2) 97 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 was constituted and on 26 July 2019 held an arbitration management meeting to address initial procedural matters. On 1 May 2020, the Ghana Arbitration Centre notified the parties that the Tribunal has granted the Claimant’s request to adjourn the proceedings indefinitely to enable the parties to explore possible settlement. On 12 April 2021, the parties executed a settlement agreement to resolve the matter. (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. |
Restatement of prior year dis_2
Restatement of prior year disclosures (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Disclosure of reclassifications or changes in presentation [abstract] | |
Summary of reclassification of Income Statement | Quarter Quarter ended ended Mar 2020 Mar 2020 US Dollar Million As previously reported Adjustments Restated Profit for the period 171 — 171 Items that will be reclassified subsequently to profit or loss: Exchange differences on translation of foreign operations (127) 56 (71) Items that will not be reclassified subsequently to profit or loss: Exchange differences on translation of non-foreign operations — (56) (56) Net gain (loss) on equity investments (25) — (25) Deferred taxation thereon 2 — 2 (23) (56) (79) Other comprehensive income ( loss) for the period, net of tax (150) — (150) Total comprehensive income (loss) for the period, net of tax 21 — 21 |
Segmental reporting (Details)
Segmental reporting (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | |
Disclosure of operating segments [line items] | |||
Gold income | $ 956 | $ 882 | $ 4,322 |
By-products | 23 | 23 | 105 |
Cost of sales | 677 | 636 | 2,699 |
Gross profit (loss) | 302 | 256 | 1,709 |
Capital expenditure | 199 | 183 | 736 |
Assets | 7,396 | 8,150 | 7,672 |
Discontinued operations - South Africa | |||
Disclosure of operating segments [line items] | |||
Gold income | 0 | 138 | 408 |
By-products | 0 | 0 | 1 |
Cost of sales | 0 | 101 | 287 |
Gross profit (loss) | 0 | 9 | 83 |
Aggregate continuing and discontinued operations | |||
Disclosure of operating segments [line items] | |||
Gold income | 956 | 1,020 | 4,730 |
By-products | 23 | 23 | 106 |
Cost of sales | 677 | 737 | 2,986 |
Gross profit (loss) | 302 | 265 | 1,792 |
Amortisation | 100 | 135 | 570 |
Operating segments | |||
Disclosure of operating segments [line items] | |||
Gold income | 1,110 | 1,022 | 4,969 |
By-products | 23 | 23 | 106 |
Cost of sales | 764 | 712 | 3,039 |
Gross profit (loss) | 369 | 320 | 2,017 |
Amortisation | 123 | 159 | 674 |
Capital expenditure | 210 | 186 | 757 |
Operating segments | Discontinued operations - South Africa | |||
Disclosure of operating segments [line items] | |||
Capital expenditure | 0 | 13 | 35 |
Operating segments | Aggregate continuing and discontinued operations | |||
Disclosure of operating segments [line items] | |||
Capital expenditure | 210 | 199 | 792 |
Africa | |||
Disclosure of operating segments [line items] | |||
Assets | 4,016 | 3,659 | 3,956 |
Africa | Operating segments | |||
Disclosure of operating segments [line items] | |||
Gold income | 678 | 575 | 2,769 |
By-products | 1 | 1 | 4 |
Cost of sales | 431 | 365 | 1,572 |
Gross profit (loss) | 249 | 211 | 1,201 |
Amortisation | 59 | 89 | 349 |
Capital expenditure | 107 | 92 | 397 |
Australia | |||
Disclosure of operating segments [line items] | |||
Assets | 1,005 | 849 | 1,044 |
Australia | Operating segments | |||
Disclosure of operating segments [line items] | |||
Gold income | 191 | 209 | 989 |
By-products | 1 | 0 | 3 |
Cost of sales | 167 | 161 | 705 |
Gross profit (loss) | 25 | 49 | 286 |
Amortisation | 28 | 34 | 160 |
Capital expenditure | 50 | 33 | 143 |
Americas | |||
Disclosure of operating segments [line items] | |||
Assets | 1,578 | 1,433 | 1,626 |
Americas | Operating segments | |||
Disclosure of operating segments [line items] | |||
Gold income | 241 | 238 | 1,211 |
By-products | 21 | 22 | 99 |
Cost of sales | 168 | 194 | 764 |
Gross profit (loss) | 93 | 59 | 532 |
Amortisation | 35 | 35 | 163 |
Capital expenditure | 53 | 61 | 217 |
Equity-accounted joint ventures included above | Elimination of intersegment amounts | |||
Disclosure of operating segments [line items] | |||
Gold income | 154 | 140 | 647 |
By-products | 0 | 0 | 1 |
Cost of sales | 87 | 76 | 340 |
Gross profit (loss) | 67 | 64 | 308 |
Amortisation | 23 | 24 | 104 |
Capital expenditure | 11 | 16 | 56 |
Corporate and other | |||
Disclosure of operating segments [line items] | |||
Assets | 797 | 1,632 | 1,046 |
Corporate and other | Operating segments | |||
Disclosure of operating segments [line items] | |||
Cost of sales | 2 | 8 | 2 |
Gross profit (loss) | 2 | 1 | (2) |
Amortisation | 1 | 1 | 2 |
South Africa | |||
Disclosure of operating segments [line items] | |||
Assets | $ 0 | $ 577 | $ 0 |
Revenue (Details)
Revenue (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | |
Disclosure of revenue [Abstract] | |||
Gold income | $ 956 | $ 882 | $ 4,322 |
By-products | 23 | 23 | 105 |
Revenue from product sales | $ 979 | $ 905 | $ 4,427 |
Cost of sales (Details)
Cost of sales (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | |
Cost of Sales [Abstract] | |||
Cash operating costs | $ 519 | $ 415 | $ 1,881 |
Royalties | 40 | 37 | 181 |
Other cash costs | 3 | 3 | 12 |
Total cash costs | 562 | 455 | 2,074 |
Retrenchment costs | 0 | 1 | 2 |
Rehabilitation and other non-cash costs | (7) | 29 | 32 |
Amortisation of tangible assets | 85 | 123 | 521 |
Amortisation of right of use assets | 14 | 11 | 47 |
Amortisation of intangible assets | 1 | 1 | 2 |
Inventory change | 22 | 16 | 21 |
Cost of sales | $ 677 | $ 636 | $ 2,699 |
Other expenses (income) (Detail
Other expenses (income) (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | |
Disclosure of other operating income (expense) [Abstract] | |||
Government fiscal claims, cost of old tailings operations and other expenses | $ (1) | $ 12 | $ 20 |
Pension and medical defined benefit provisions | 2 | 2 | 8 |
Royalty received | (1) | (1) | (2) |
Royalty receivables impaired | 0 | 0 | 4 |
Retrenchment and related costs | 1 | 0 | 0 |
Legal fees and project costs | 0 | 1 | 9 |
Refund from insurance claim | 0 | (5) | (5) |
Other indirect taxes | 1 | 11 | 23 |
Other operating income (expense) | $ 2 | $ 20 | $ 57 |
Finance costs and unwinding o_3
Finance costs and unwinding of obligations (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | |
Disclosure of finance costs and unwinding of obligations [Abstract] | |||
Finance costs - borrowings | $ 24 | $ 31 | $ 130 |
Finance costs - leases | 2 | 2 | 8 |
Unwinding of obligations | 4 | 10 | 39 |
Finance costs and unwinding of obligations | $ 30 | $ 43 | $ 177 |
Share of associates and joint_3
Share of associates and joint ventures' profit (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | |
Disclosure of associates [line items] | |||
Net interest received (paid) | $ 14 | $ 5 | $ 27 |
Profit (loss) before taxation | 279 | 231 | 1,589 |
Taxation | (70) | (95) | (625) |
Profit (loss) for the period from continuing operations | 209 | 136 | 964 |
Joint ventures | |||
Disclosure of associates [line items] | |||
Profit on sale of joint ventures | 0 | 0 | 19 |
Associates | Joint ventures | |||
Disclosure of associates [line items] | |||
Revenue | 162 | 148 | 677 |
Operating costs and other expenses | (90) | (80) | (353) |
Net interest received (paid) | 2 | 3 | 5 |
Profit (loss) before taxation | 74 | 71 | 348 |
Taxation | (17) | (13) | (70) |
Profit (loss) for the period from continuing operations | $ 57 | $ 58 | $ 278 |
Taxation - Income tax benefit (
Taxation - Income tax benefit (expense) (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | |
Deferred taxation | |||
Taxation | $ 70 | $ 95 | $ 625 |
Deferred taxation | 19 | 68 | 7 |
Derecognised tax assets | |||
Deferred taxation | |||
Temporary differences | 78 | ||
Derecognised tax assets | South Africa assets | |||
Deferred taxation | |||
Temporary differences | 9 | ||
Derecognised tax assets, consideration of future recoverability | |||
Deferred taxation | |||
Temporary differences | 69 | ||
South Africa | |||
Disclosure of Income Taxes [Line Items] | |||
Normal taxation | 0 | 0 | 1 |
Deferred taxation | |||
Temporary differences | 0 | (6) | 74 |
Taxation | 0 | (6) | 75 |
Foreign taxation | |||
Disclosure of Income Taxes [Line Items] | |||
Normal taxation | 62 | 93 | 553 |
Prior year under (over) provision | 0 | 0 | 8 |
Deferred taxation | |||
Temporary differences | 5 | 10 | 9 |
Prior year (over) under provision | 0 | 0 | (6) |
Change in estimate | 3 | (2) | (14) |
Taxation | 70 | $ 101 | 550 |
Ghana | |||
Deferred taxation | |||
Deferred taxation | $ 12 | $ 7 |
Taxation - Narrative (Details)
Taxation - Narrative (Details) - USD ($) $ in Millions | 1 Months Ended | 3 Months Ended | 12 Months Ended |
Feb. 28, 2021 | Mar. 31, 2021 | Dec. 31, 2020 | |
Argentina Tax Authority | |||
Disclosure of contingent liabilities [line items] | |||
Loss contingency, damages sought | $ 7 | $ 8 | |
Brazil Tax Authority | |||
Disclosure of contingent liabilities [line items] | |||
Loss contingency, damages sought | 18 | 20 | |
Columbian Tax Authority | |||
Disclosure of contingent liabilities [line items] | |||
Loss contingency, damages sought | 81 | 86 | |
Loss contingency, reduction of damages sought | 52 | 76 | |
Ghana Tax Authority | |||
Disclosure of contingent liabilities [line items] | |||
Loss contingency, damages sought | 15 | 15 | |
Guinea Tax Authority | |||
Disclosure of contingent liabilities [line items] | |||
Loss contingency, damages sought | 8 | 8 | |
Guinea Tax Authority | Provision for income tax | |||
Disclosure of contingent liabilities [line items] | |||
Other provisions | 2 | 2 | |
Tanzania Revenue Authority | Provision for income tax | |||
Disclosure of contingent liabilities [line items] | |||
Loss contingency, damages sought | $ 262 | $ 254 | |
Loss contingency, increase in damages sought | $ 8 |
Headline earnings (Details)
Headline earnings (Details) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | |
Disclosure of earnings per share [Abstract] | |||
Profit (loss) attributable to equity shareholders | $ 203 | $ 169 | $ 953 |
Net impairment (impairment reversal) on held for sale assets | 0 | (26) | (17) |
(Profit) loss on disposal of discontinued operations | 0 | (2) | 80 |
Taxation on profit (loss) on disposal of discontinued operations | 0 | 1 | 1 |
Profit on disposal of joint ventures | 0 | 0 | (19) |
Net loss (profit) on disposal of tangible assets | 0 | 1 | 2 |
Headline earnings (loss) | $ 203 | $ 143 | $ 1,000 |
Headline earnings (loss) per ordinary share (USD cents per share) | $ 48 | $ 34 | $ 238 |
Diluted headline earnings (loss) per ordinary share (USD cents per share) | $ 48 | $ 34 | $ 238 |
Threshold for disclosure of tax effect | $ 1 | ||
Ordinary shares (in shares) | 417,005,830 | 415,578,197 | 416,399,307 |
Headline earnings - Dilutive sh
Headline earnings - Dilutive shares (Details) - shares | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | |
Disclosure of earnings per share [Abstract] | |||
Ordinary shares (in shares) | 417,005,830 | 415,578,197 | 416,399,307 |
Fully vested options (in shares) | 1,829,548 | 2,263,237 | 2,634,209 |
Weighted average number of shares (in shares) | 418,835,378 | 417,841,434 | 419,033,516 |
Dilutive potential of share options (in shares) | 0 | 644,570 | 447,934 |
Dilutive number of ordinary shares (in shares) | 418,835,378 | 418,486,004 | 419,481,450 |
Share capital and premium (Deta
Share capital and premium (Details) $ in Millions | 3 Months Ended | 12 Months Ended | ||||
Mar. 31, 2021USD ($)shares | Mar. 31, 2020USD ($)shares | Dec. 31, 2020USD ($)shares | Mar. 31, 2021R / shares | Dec. 31, 2020R / shares | Mar. 31, 2020R / shares | |
Issued and fully paid: | ||||||
Share capital | $ 17 | $ 17 | $ 17 | |||
Balance at beginning of period | 7,250 | 7,235 | 7,235 | |||
Ordinary shares issued | 5 | 10 | 15 | |||
Balance at end of period | 7,255 | 7,245 | 7,250 | |||
Redeemable preference shares | (53) | (53) | (53) | |||
Balance at end of period | 7,202 | 7,192 | 7,197 | |||
Share capital and premium | $ 7,219 | $ 7,209 | $ 7,214 | |||
Ordinary shares | ||||||
Authorised: | ||||||
Number of shares authorised (in shares) | shares | 600,000,000 | 600,000,000 | 600,000,000 | |||
Issued and fully paid: | ||||||
Number of shares issued and fully paid (in shares) | shares | 417,254,176 | 416,340,033 | 416,890,087 | |||
Series A redeemable preferred shares | ||||||
Authorised: | ||||||
Number of shares authorised (in shares) | shares | 2,000,000 | 2,000,000 | 2,000,000 | |||
Issued and fully paid: | ||||||
Number of shares issued and fully paid (in shares) | shares | 2,000,000 | |||||
Series B redeemable preferred shares | ||||||
Authorised: | ||||||
Number of shares authorised (in shares) | shares | 5,000,000 | 5,000,000 | 5,000,000 | |||
Issued and fully paid: | ||||||
Number of shares issued and fully paid (in shares) | shares | 778,896 | |||||
Series C redeemable preferred shares | ||||||
Authorised: | ||||||
Number of shares authorised (in shares) | shares | 30,000,000 | 30,000,000 | 30,000,000 | |||
Authorised | ||||||
Issued and fully paid: | ||||||
Share capital | $ 23 | $ 23 | $ 23 | |||
Authorised | Ordinary shares | ||||||
Authorised: | ||||||
Par value per share (USD per share) | R / shares | R 0.25 | R 0.25 | R 0.25 | |||
Issued and fully paid: | ||||||
Par value per share (USD per share) | R / shares | 0.25 | 0.25 | 0.25 | |||
Share capital | 23 | 23 | 23 | |||
Authorised | Series A redeemable preferred shares | ||||||
Authorised: | ||||||
Par value per share (USD per share) | R / shares | 0.50 | 0.50 | 0.50 | |||
Issued and fully paid: | ||||||
Par value per share (USD per share) | R / shares | 0.50 | 0.50 | 0.50 | |||
Share capital | 0 | 0 | 0 | |||
Authorised | Series B redeemable preferred shares | ||||||
Authorised: | ||||||
Par value per share (USD per share) | R / shares | 0.01 | 0.01 | 0.01 | |||
Issued and fully paid: | ||||||
Par value per share (USD per share) | R / shares | 0.01 | R 0.01 | R 0.01 | |||
Share capital | 0 | 0 | 0 | |||
Authorised | Series C redeemable preferred shares | ||||||
Issued and fully paid: | ||||||
Share capital | 0 | 0 | 0 | |||
Issued and fully paid | ||||||
Issued and fully paid: | ||||||
Share capital | 17 | 17 | 17 | |||
Issued and fully paid | Ordinary shares | ||||||
Authorised: | ||||||
Par value per share (USD per share) | R / shares | 0.25 | |||||
Issued and fully paid: | ||||||
Par value per share (USD per share) | R / shares | 0.25 | |||||
Share capital | 17 | 17 | 17 | |||
Issued and fully paid | Series A redeemable preferred shares | ||||||
Authorised: | ||||||
Par value per share (USD per share) | R / shares | 0.50 | |||||
Issued and fully paid: | ||||||
Par value per share (USD per share) | R / shares | 0.50 | |||||
Share capital | 0 | 0 | 0 | |||
Issued and fully paid | Series B redeemable preferred shares | ||||||
Authorised: | ||||||
Par value per share (USD per share) | R / shares | 0.01 | |||||
Issued and fully paid: | ||||||
Par value per share (USD per share) | R / shares | R 0.01 | |||||
Share capital | $ 0 | 0 | 0 | |||
Treasury shares held within the group | Series A and B redeemable preference shares | ||||||
Issued and fully paid: | ||||||
Treasury shares held within the group (in shares) | shares | 2,778,896 | |||||
Share capital | $ 0 | $ 0 | $ 0 |
Borrowings - Schedule of borrow
Borrowings - Schedule of borrowings (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | |
Disclosure of borrowing costs [Abstract] | |||
Opening balance | $ 1,931 | $ 2,033 | $ 2,033 |
Proceeds from borrowings | 0 | 1,526 | 2,226 |
Repayment of borrowings | 0 | (62) | (2,310) |
Finance costs paid on borrowings | (38) | (26) | (114) |
Interest charged to the income statement | 26 | 32 | 115 |
Other borrowing cost | 0 | 0 | (15) |
Deferred loan fees | 0 | 0 | 4 |
Translation | 0 | (23) | (8) |
Closing balance | 1,919 | 3,480 | 1,931 |
Finance costs paid on borrowings | 38 | 26 | 114 |
Capitalised finance cost | (4) | (4) | (17) |
Commitment fees, environmental guarantees fees and other | 2 | 3 | 13 |
Total finance costs paid | $ 36 | $ 25 | $ 110 |
Borrowings - Reconciliation of
Borrowings - Reconciliation of Lease Liabilities (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | |
Disclosure of borrowing costs [Abstract] | |||
Opening balance | $ 153 | $ 171 | $ 171 |
Lease liabilities recognised | 15 | 3 | 23 |
Repayment of lease liabilities | (14) | (11) | (47) |
Finance costs paid on lease liabilities | (2) | (2) | (8) |
Interest expense on lease liabilities | 2 | 2 | 8 |
Change in estimate | 0 | 0 | (1) |
Translation | (2) | (19) | 7 |
Closing balance | $ 152 | $ 144 | $ 153 |
Borrowings - LIBOR linked borro
Borrowings - LIBOR linked borrowings (Details) $ in Millions | Mar. 31, 2021USD ($) |
Siguiri RCF ($65m) | |
Disclosure of detailed information about borrowings [line items] | |
Notional amount | $ 65 |
Siguiri RCF ($65m) | London Interbank Offered Rate (LIBOR) | |
Disclosure of detailed information about borrowings [line items] | |
Borrowings, adjustment to interest rate basis | 8.50% |
Siguiri RCF ($65m) | Financial liabilities at amortised cost | |
Disclosure of detailed information about borrowings [line items] | |
Unsecured bank loans received | $ 67 |
Siguiri RCF ($65m) | Financial liabilities at amortised cost | Repayable within one year | |
Disclosure of detailed information about borrowings [line items] | |
Unsecured bank loans received | 2 |
Siguiri RCF ($65m) | Financial liabilities at amortised cost | Repayable within one to two years | |
Disclosure of detailed information about borrowings [line items] | |
Unsecured bank loans received | 65 |
Geita revolving credit facility | |
Disclosure of detailed information about borrowings [line items] | |
Notional amount | 150 |
Undrawn borrowing facilities | 41 |
Geita revolving credit facility | Financial liabilities at amortised cost | |
Disclosure of detailed information about borrowings [line items] | |
Unsecured bank loans received | 66 |
Geita revolving credit facility | Financial liabilities at amortised cost | Repayable within one year | |
Disclosure of detailed information about borrowings [line items] | |
Unsecured bank loans received | 66 |
Geita revolving credit facility | Financial liabilities at amortised cost | Repayable within one to two years | |
Disclosure of detailed information about borrowings [line items] | |
Unsecured bank loans received | 0 |
Multi-currency syndicated revolving credit facility ($1.4bn multi-currency RCF) | |
Disclosure of detailed information about borrowings [line items] | |
Notional amount | 1,400 |
Multi-currency syndicated revolving credit facility ($1.4bn multi-currency RCF) | Financial liabilities at amortised cost | |
Disclosure of detailed information about borrowings [line items] | |
Unsecured bank loans received | 0 |
Undrawn borrowing facilities | 1,400 |
Multi-currency syndicated revolving credit facility ($1.4bn multi-currency RCF) | Financial liabilities at amortised cost | Repayable within one year | |
Disclosure of detailed information about borrowings [line items] | |
Unsecured bank loans received | 0 |
Multi-currency syndicated revolving credit facility ($1.4bn multi-currency RCF) | Financial liabilities at amortised cost | Repayable within one to two years | |
Disclosure of detailed information about borrowings [line items] | |
Unsecured bank loans received | 0 |
Unsecured One Hundred and Fifty Million Dollar Revolving Credit Facility | |
Disclosure of detailed information about borrowings [line items] | |
Borrowings maximum, Tanzanian Shilling facility | $ 45 |
Tanzanian Shilling Components Of Unsecured One Hundred and Fifty Million Dollar MutiCurrency Facility | |
Disclosure of detailed information about borrowings [line items] | |
Borrowings, interest rate | 12.50% |
US Dollar Components Of Unsecured One Hundred and Fifty Million Dollar MutiCurrency Facility | London Interbank Offered Rate (LIBOR) | |
Disclosure of detailed information about borrowings [line items] | |
Borrowings, adjustment to interest rate basis | 6.70% |
Cash generated from operation_2
Cash generated from operations (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | |
Statement of cash flows [abstract] | |||
Profit (loss) before taxation | $ 279 | $ 231 | $ 1,589 |
Adjusted for: | |||
Movement on non-hedge derivatives and other commodity contracts | 0 | 12 | 0 |
Amortisation of tangible and right of use assets | 99 | 134 | 568 |
Amortisation of intangible assets | 1 | 1 | 2 |
Finance costs and unwinding of obligations | 30 | 43 | 177 |
Environmental rehabilitation and other expenditure | (30) | (9) | (50) |
Impairment, derecognition of assets and (profit) loss on disposal | 0 | 0 | (1) |
Other expenses (income) | 2 | 26 | 51 |
Profit (loss) on sale of assets | (1) | 0 | 0 |
Interest income | (14) | (5) | (27) |
Share of associates and joint ventures' (profit) loss | (57) | (58) | (278) |
Other non-cash movements | 4 | (14) | 35 |
Movements in working capital | (79) | (137) | (238) |
Cash generated from operations | 234 | 224 | 1,828 |
(Increase) decrease in inventories | 60 | (46) | (83) |
(Increase) decrease in trade and other receivables | (57) | (19) | (163) |
Increase (decrease) in trade, other payables and provisions | (82) | (72) | 8 |
Movements in working capital | $ (79) | $ (137) | $ (238) |
Financial risk management act_3
Financial risk management activities - Fair value of financial instruments (Details) - USD ($) $ in Millions | Mar. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2020 |
Disclosure of detailed information about financial instruments [abstract] | |||
Carrying amount | $ 1,919 | $ 1,931 | $ 3,480 |
Fair value | $ 2,043 | $ 2,131 | $ 3,477 |
Financial risk management act_4
Financial risk management activities - Assets and liabilities measured at fair value on a recurring basis (Details) - USD ($) $ in Millions | Mar. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2020 |
Disclosure of fair value measurement of assets [line items] | |||
Assets | $ 7,396 | $ 7,672 | $ 8,150 |
Liabilities | 3,705 | 3,932 | 5,491 |
Other equity securities FVTPL | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 0 | 0 | 14 |
Other equity securities FVTPL | Level 1 | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 0 | 14 | |
Other equity securities FVOCI | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 127 | 186 | 47 |
Other equity securities FVOCI | Level 1 | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 127 | 186 | 47 |
Deferred compensation asset | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 28 | 28 | |
Deferred compensation asset | Level 3 | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | $ 28 | $ 28 | |
Gold and oil derivative contracts | |||
Disclosure of fair value measurement of assets [line items] | |||
Liabilities | 13 | ||
Gold and oil derivative contracts | Level 2 | |||
Disclosure of fair value measurement of assets [line items] | |||
Liabilities | $ 13 |
Financial risk management act_5
Financial risk management activities - Fair value narrative (Details) | Feb. 12, 2020USD ($)oz | Mar. 31, 2021USD ($) | Dec. 31, 2020USD ($) | Mar. 31, 2020USD ($) |
Disclosure of fair value measurement of assets [line items] | ||||
Deferred compensation asset | $ 7,396,000,000 | $ 7,672,000,000 | $ 8,150,000,000 | |
Deferred compensation asset | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Deferred compensation asset | 28,000,000 | 28,000,000 | ||
Deferred compensation asset | Level 3 | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Deferred compensation asset | $ 28,000,000 | 28,000,000 | ||
Increase in asset due to a 10% increase in weighted number of ounces | 3,000,000 | |||
Decrease in asset due to a 10% decrease in weighted number of ounces | $ 3,000,000 | |||
South Africa assets | Discontinued operations | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Portion of consideration received consisting of deferred consideration, above production threshold (in USD per ounce) | $ 260 | |||
Consideration receivable, initial production threshold | 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) | $ 20 | |||
Transaction date ounces of reserves | oz | 8,530,000 |
Financial risk management act_6
Financial risk management activities - Environmental obligations (Details) - Mar. 31, 2021 - Provision for decommissioning, restoration and rehabilitation costs $ in Thousands, $ in Millions | AUD ($) | USD ($) |
Australia | ||
Disclosure of other provisions [line items] | ||
Annual payment to trust fund | $ 8.2 | |
Carrying value of liability | $ 134.9 | |
Ghana | Iduapriem site | ||
Disclosure of other provisions [line items] | ||
Carrying value of liability | $ 52,000 | |
Cash component of bond | 10,200 | |
Bond guarantees issued by banks | 38,600 | |
Ghana | Obuasi site | ||
Disclosure of other provisions [line items] | ||
Carrying value of liability | 198,200 | |
Cash component of bond | 21,340 | |
Bond guarantees issued by banks | $ 30,000 |
Capital commitments (Details)
Capital commitments (Details) - USD ($) $ in Millions | Mar. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2020 |
Disclosure of capital commitments [line items] | |||
Orders placed and outstanding on capital contracts at the prevailing rate of exchange | $ 182 | $ 120 | $ 198 |
Discontinued operations | |||
Disclosure of capital commitments [line items] | |||
Orders placed and outstanding on capital contracts at the prevailing rate of exchange | $ 0 | $ 0 | $ 7 |
Contractual commitments and c_3
Contractual commitments and contingencies - Contingencies (Details) $ in Millions | Mar. 31, 2021USD ($) | Dec. 31, 2020USD ($) | Feb. 20, 2014USD ($) | Apr. 02, 2013plaintiff |
Disclosure of contingent liabilities [line items] | ||||
Contingent liabilities | $ 97 | $ 97 | ||
Number of plaintiffs | plaintiff | 152 | |||
Litigation | AngloGold Ashanti (Ghana) Limited | ||||
Disclosure of contingent liabilities [line items] | ||||
Contingent liabilities | $ 97 | $ 97 | $ 97 |
Restatement of prior year dis_3
Restatement of prior year disclosures (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | ||
Disclosure of reclassifications or changes in presentation [line items] | ||||
Profit (loss) for the period | $ 209 | $ 171 | $ 971 | |
Items that will be reclassified subsequently to profit or loss: | ||||
Exchange differences on translation of foreign operations | [1] | (5) | (71) | 38 |
Items that will not be reclassified subsequently to profit or loss: | ||||
Exchange differences on translation of non-foreign operations | [1] | 3 | (56) | (16) |
Net (loss) gain on equity investments | (60) | (25) | 98 | |
Deferred taxation thereon | 2 | |||
Other comprehensive income that will not be reclassified to profit or loss | (55) | (79) | 86 | |
Other comprehensive income (loss) for the period, net of tax | (60) | (150) | 124 | |
Aggregate continuing and discontinued operations | ||||
Items that will not be reclassified subsequently to profit or loss: | ||||
Total comprehensive income (loss) for the period, net of tax | $ 149 | 21 | $ 1,095 | |
As previously reported | ||||
Disclosure of reclassifications or changes in presentation [line items] | ||||
Profit (loss) for the period | 171 | |||
Items that will be reclassified subsequently to profit or loss: | ||||
Exchange differences on translation of foreign operations | (127) | |||
Items that will not be reclassified subsequently to profit or loss: | ||||
Exchange differences on translation of non-foreign operations | 0 | |||
Net (loss) gain on equity investments | (25) | |||
Deferred taxation thereon | 2 | |||
Other comprehensive income that will not be reclassified to profit or loss | (23) | |||
Other comprehensive income (loss) for the period, net of tax | (150) | |||
Total comprehensive income (loss) for the period, net of tax | 21 | |||
Adjustments | ||||
Disclosure of reclassifications or changes in presentation [line items] | ||||
Profit (loss) for the period | 0 | |||
Items that will be reclassified subsequently to profit or loss: | ||||
Exchange differences on translation of foreign operations | 56 | |||
Items that will not be reclassified subsequently to profit or loss: | ||||
Exchange differences on translation of non-foreign operations | (56) | |||
Net (loss) gain on equity investments | 0 | |||
Deferred taxation thereon | 0 | |||
Other comprehensive income that will not be reclassified to profit or loss | (56) | |||
Other comprehensive income (loss) for the period, net of tax | 0 | |||
Total comprehensive income (loss) for the period, net of tax | $ 0 | |||
[1] | Exchange differences arising on translation of foreign and non-foreign operations have been restated to reflect those that will be reclassified subsequently to profit or loss and those that will not be reclassified subsequently to profit or loss. Refer to note 15. |
COVID-19 pandemic (Details)
COVID-19 pandemic (Details) | 3 Months Ended |
Mar. 31, 2021 | |
Obuasi site | |
Disclosure of non-adjusting events after reporting period [line items] | |
Percentage of workforce vaccinated | 33.00% |
Iduapriem site | |
Disclosure of non-adjusting events after reporting period [line items] | |
Percentage of workforce vaccinated | 67.00% |
Siguiri site | |
Disclosure of non-adjusting events after reporting period [line items] | |
Percentage of workforce vaccinated | 33.00% |
Percentage of high-risk workforce vaccinated | 100.00% |
Minimum | |
Disclosure of non-adjusting events after reporting period [line items] | |
Production capacity | 60.00% |
Maximum | |
Disclosure of non-adjusting events after reporting period [line items] | |
Production capacity | 80.00% |