Cover
Cover | 6 Months Ended |
Jun. 30, 2021 | |
Cover [Abstract] | |
Document type | 6-K |
Entity registrant name | AngloGold Ashanti Limited |
Amendment flag | false |
Document period end date | Jun. 30, 2021 |
Document fiscal year focus | 2021 |
Document fiscal period focus | Q2 |
Entity central index key | 0001067428 |
Current fiscal year end date | --12-31 |
Group - Income Statement
Group - Income Statement - USD ($) $ in Millions | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | ||
Continuing operations | ||||
Revenue from product sales | $ 1,965 | $ 1,963 | $ 4,427 | |
Cost of sales | (1,400) | (1,290) | (2,699) | |
(Loss) gain on non-hedge derivatives and other commodity contracts | 0 | (15) | (19) | |
Gross profit | 565 | 658 | 1,709 | |
Corporate administration, marketing and other expenses | (37) | (36) | (68) | |
Exploration and evaluation costs | (59) | (56) | (124) | |
Impairment, derecognition of assets and profit (loss) on disposal | (1) | (1) | (1) | |
Other (expenses) income | (26) | (28) | (57) | |
Operating profit (loss) | 442 | 537 | 1,459 | |
Interest income | 29 | 9 | 27 | |
Dividends received | 0 | 0 | 2 | |
Foreign exchange and other (losses) gains | (31) | 18 | 0 | |
Finance costs and unwinding of obligations | (55) | (86) | (177) | |
Share of associates and joint ventures’ profit (loss) | 122 | 119 | 278 | |
Profit (loss) before taxation | 507 | 597 | 1,589 | |
Taxation | (134) | (208) | (625) | |
Profit (loss) for the period from continuing operations | 373 | 389 | 964 | |
Discontinued operations | ||||
Profit (loss) from discontinued operations | 0 | 39 | 7 | |
Profit (loss) for the period | 373 | 428 | 971 | |
Equity shareholders | ||||
- Continuing operations | 362 | 382 | 946 | |
- Discontinued operations | 0 | 39 | 7 | |
Non-controlling interests | ||||
- Continuing operations | $ 11 | $ 7 | $ 18 | |
Basic profit (loss) per ordinary share | ||||
Earnings per ordinary share from continuing operations (USD per share) | [1] | $ 0.86 | $ 0.91 | $ 2.25 |
Earnings (loss) per ordinary share from discontinued operations (USD per share) | [1] | 0 | 0.09 | 0.02 |
Basic profit (loss) per ordinary share (USD per share) | [1] | 0.86 | 1 | 2.27 |
Diluted profit (loss) per ordinary share | ||||
Earnings per ordinary share from continuing operations (USD per share) | [2] | 0.86 | 0.91 | 2.25 |
Earnings (loss) per ordinary share from discontinued operations (USD per share) | [2] | 0 | 0.09 | 0.02 |
Diluted profit (loss) per ordinary share (USD per share) | [2] | $ 0.86 | $ 1 | $ 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 | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | ||
Condensed Statement of Income Captions [Line Items] | ||||
Profit (loss) for the period | $ 373 | $ 428 | $ 971 | |
Items that will be reclassified subsequently to profit or loss: | ||||
Exchange differences on translation of foreign operations | [1] | (10) | (12) | 38 |
Items that will not be reclassified subsequently to profit or loss: | ||||
Exchange differences on translation of non-foreign operations | [1] | 2 | (50) | (16) |
Net (loss) gain on equity investments | (40) | 53 | 98 | |
Actuarial gain (loss) recognised | 0 | 0 | 10 | |
Deferred taxation thereon | (4) | (7) | (6) | |
Other comprehensive income that will not be reclassified to profit or loss | (42) | (4) | 86 | |
Other comprehensive income (loss) for the period, net of tax | (52) | (16) | 124 | |
Equity shareholders | ||||
Comprehensive income, attributable to owners of parent | 310 | 424 | 1,121 | |
Non-controlling interests | ||||
- Continuing operations | 11 | 7 | 18 | |
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 | 321 | 412 | 1,095 | |
Discontinued operations | ||||
Equity shareholders | ||||
Comprehensive income, attributable to owners of parent | $ 0 | $ (19) | $ (44) | |
[1] | Exchange differences arising on translation of foreign and non-foreign operations for the six months ended 30 June 2020 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 | Jun. 30, 2021 | Dec. 31, 2020 | Jun. 30, 2020 |
Non-current assets | |||
Tangible assets | $ 3,114 | $ 2,884 | $ 2,658 |
Right of use assets | 163 | 142 | 147 |
Intangible assets | 127 | 131 | 120 |
Investments in associates and joint ventures | 1,696 | 1,651 | 1,644 |
Other investments | 148 | 188 | 137 |
Inventories | 47 | 69 | 80 |
Trade, other receivables and other assets | 254 | 235 | 147 |
Deferred taxation | 7 | 7 | 83 |
Cash restricted for use | 32 | 31 | 31 |
Total Non-current assets | 5,588 | 5,338 | 5,047 |
Current assets | |||
Inventories | 690 | 733 | 707 |
Trade, other receivables and other assets | 277 | 229 | 248 |
Cash restricted for use | 29 | 42 | 34 |
Cash and cash equivalents | 1,081 | 1,330 | 1,292 |
Current assets other than non-current assets or disposal groups classified as held for sale | 2,077 | 2,334 | 2,281 |
Assets held for sale | 0 | 0 | 546 |
Total Current assets | 2,077 | 2,334 | 2,827 |
Total assets | 7,665 | 7,672 | 7,874 |
EQUITY AND LIABILITIES | |||
Share capital and premium | 7,221 | 7,214 | 7,211 |
Accumulated losses and other reserves | (3,406) | (3,519) | (4,199) |
Shareholders’ equity | 3,815 | 3,695 | 3,012 |
Non-controlling interests | 47 | 45 | 36 |
Total equity | 3,862 | 3,740 | 3,048 |
Non-current liabilities | |||
Borrowings | 1,726 | 1,789 | 2,592 |
Lease liabilities | 124 | 116 | 119 |
Environmental rehabilitation and other provisions | 715 | 731 | 721 |
Provision for pension and post-retirement benefits | 85 | 83 | 79 |
Trade, other payables and provisions | 7 | 8 | 6 |
Deferred taxation | 267 | 246 | 241 |
Total Non-current liabilities | 2,924 | 2,973 | 3,758 |
Current liabilities | |||
Borrowings | 203 | 142 | 136 |
Lease liabilities | 52 | 37 | 38 |
Trade, other payables and provisions | 589 | 627 | 526 |
Taxation | 35 | 153 | 105 |
Total current liabilities other than liabilities included in disposal groups classified as held for sale | 879 | 959 | 805 |
Liabilities held for sale | 0 | 0 | 263 |
Total Current liabilities | 879 | 959 | 1,068 |
Total liabilities | 3,803 | 3,932 | 4,826 |
Total equity and liabilities | $ 7,665 | $ 7,672 | $ 7,874 |
Group - Statement of Cash Flows
Group - Statement of Cash Flows - USD ($) $ in Millions | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | |
Cash flows from operating activities | |||
Receipts from customers | $ 1,977 | $ 1,980 | $ 4,411 |
Payments to suppliers and employees | (1,363) | (1,316) | (2,583) |
Cash generated from operations | 614 | 664 | 1,828 |
Dividends received from joint ventures | 71 | 54 | 148 |
Taxation refund | 7 | 0 | 0 |
Taxation paid | (225) | (166) | (431) |
Net cash inflow (outflow) from operating activities from continuing operations | 467 | 552 | 1,545 |
Net cash inflow (outflow) from operating activities from discontinued operations | 0 | 52 | 109 |
Net cash inflow (outflow) from operating activities | 467 | 604 | 1,654 |
Cash flows from investing activities | |||
Capital expenditure | (429) | (307) | (701) |
Interest capitalised and paid | (9) | (7) | (17) |
Acquisition of intangible assets | 0 | 0 | (1) |
Dividends from other investments | 12 | 0 | 9 |
Proceeds from disposal of tangible assets | 2 | 0 | 3 |
Other investments and assets acquired | (5) | (4) | (8) |
Proceeds from disposal of other investments | 0 | 9 | 9 |
Proceeds from disposal of joint ventures | 2 | 0 | 26 |
Loans advanced | (10) | 0 | |
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 | 13 | (7) | (9) |
Interest received | 29 | 9 | 27 |
Net cash inflow (outflow) from investing activities from continuing operations | (395) | (307) | (448) |
Net cash inflow (outflow) from investing activities from discontinued operations | 0 | (17) | (31) |
Cash in subsidiaries sold and transferred to held for sale | 0 | 2 | 3 |
Net cash inflow (outflow) from investing activities | (395) | (322) | (476) |
Cash flows from financing activities | |||
Proceeds from borrowings | 7 | 1,526 | 2,226 |
Repayment of borrowings | (7) | (811) | (2,310) |
Repayment of lease liabilities | (30) | (22) | (47) |
Finance costs - borrowings | (49) | (67) | (110) |
Finance costs - leases | (5) | (4) | (8) |
Other borrowing costs | 0 | (18) | (33) |
Dividends paid | (207) | (44) | (47) |
Net cash inflow (outflow) from financing activities from continuing operations | (291) | 560 | (329) |
Net cash inflow (outflow) from financing activities from discontinued operations | 0 | 0 | 0 |
Net cash inflow (outflow) from financing activities | (291) | 560 | (329) |
Net increase (decrease) in cash and cash equivalents | (219) | 842 | 849 |
Effect of exchange rate changes on cash and cash equivalents [abstract] | |||
Translation | (30) | (6) | 25 |
Cash and cash equivalents at beginning of period | 1,330 | 456 | 456 |
Cash and cash equivalents at end of period | $ 1,081 | $ 1,292 | $ 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 | 428 | 421 | 421 | 7 | ||||||||||||||||
Other comprehensive income (loss) | (16) | (16) | 46 | (62) | ||||||||||||||||
Total comprehensive income (loss) for the period, net of tax | $ 412 | $ 405 | $ 0 | $ 0 | $ 421 | $ 46 | $ 0 | $ (62) | $ 7 | |||||||||||
Shares issued | 12 | 12 | 12 | |||||||||||||||||
Share-based payment for share awards net of exercised | (8) | (8) | (8) | |||||||||||||||||
Dividends paid | (38) | (38) | (38) | |||||||||||||||||
Dividends of subsidiaries | (6) | 0 | (6) | |||||||||||||||||
Transfer on disposal and derecognition of equity investments | 0 | 0 | 4 | (4) | ||||||||||||||||
Translation | 0 | 1 | (10) | 10 | 1 | (1) | ||||||||||||||
Equity at end of period at Jun. 30, 2020 | 3,048 | 3,012 | 7,211 | 65 | (2,871) | 87 | (9) | (1,471) | 36 | |||||||||||
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 | 373 | 362 | 362 | 11 | ||||||||||||||||
Other comprehensive income (loss) | (52) | (52) | (43) | (1) | (8) | |||||||||||||||
Total comprehensive income (loss) for the period, net of tax | $ 321 | $ 310 | $ 0 | $ 0 | $ 362 | $ (43) | $ (1) | $ (8) | $ 11 | |||||||||||
Shares issued | 7 | 7 | 7 | |||||||||||||||||
Share-based payment for share awards net of exercised | 1 | 1 | 1 | |||||||||||||||||
Dividends paid | (199) | (199) | (199) | |||||||||||||||||
Dividends of subsidiaries | (8) | 0 | (8) | |||||||||||||||||
Translation | 0 | 1 | 1 | (1) | ||||||||||||||||
Equity at end of period at Jun. 30, 2021 | $ 3,862 | $ 3,815 | $ 7,221 | $ 79 | $ (2,178) | $ 88 | $ 0 | $ (1,395) | $ 47 | |||||||||||
[1] | Foreign currency translation reserve includes a loss of $1,394m (Dec 2020: $1,396m; Jun 2020: $1,430m) that will not re-cycle through the Income statement on disposal of non-foreign operations, and a loss of $1m (Dec 2020: $9m gain; Jun 2020: $41m loss) relating to foreign operations that will re-cycle through the Income statement on disposal. |
Group - Statement of Changes _2
Group - Statement of Changes in Equity (Parenthetical) - USD ($) $ in Millions | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | |
Other comprehensive income that will not be reclassified to profit or loss, net of tax | $ 42 | $ 4 | $ (86) |
Foreign currency translation reserve | |||
Other comprehensive income that will be reclassified to profit or loss, net of tax | 1 | 41 | 9 |
Foreign currency translation reserve | Non-foreign operations | |||
Other comprehensive income that will not be reclassified to profit or loss, net of tax | $ 1,394 | $ 1,430 | $ 1,396 |
Segmental reporting
Segmental reporting | 6 Months Ended |
Jun. 30, 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 Six months Six months Year ended ended ended Jun Jun Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited Africa 1,360 1,265 2,769 Australia 398 437 989 Americas 475 518 1,211 2,233 2,220 4,969 Equity-accounted joint ventures included above (322) (303) (647) Continuing operations 1,911 1,917 4,322 Discontinued operations - South Africa — 234 408 1,911 2,151 4,730 By-product revenue Six months Six months Year ended ended ended Jun Jun Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited Africa 3 2 4 Australia 2 1 3 Americas 50 44 99 55 47 106 Equity-accounted joint ventures included above (1) (1) (1) Continuing operations 54 46 105 Discontinued operations - South Africa — — 1 54 46 106 Cost of sales Six months Six months Year ended ended ended Jun Jun Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited Africa 869 745 1,572 Australia 346 331 705 Americas 364 387 764 Corporate and other (1) (9) (2) 1,578 1,454 3,039 Equity-accounted joint ventures included above (178) (164) (340) Continuing operations 1,400 1,290 2,699 Discontinued operations - South Africa — 174 287 1,400 1,464 2,986 Gross profit (loss) Six months Six months Year ended ended ended Jun Jun Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited Africa 493 522 1,201 Australia 53 107 286 Americas 162 168 532 Corporate and other 2 1 (2) 710 798 2,017 Equity-accounted joint ventures included above (145) (140) (308) Continuing operations 565 658 1,709 Discontinued operations - South Africa — 19 83 565 677 1,792 Amortisation Six months Six months Year ended ended ended Jun Jun Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited Africa 126 186 349 Australia 63 70 160 Americas 72 71 163 Corporate and other 1 1 2 262 328 674 Equity-accounted joint ventures included above (49) (51) (104) 213 277 570 Capital expenditure Six months Six months Year ended ended ended Jun Jun Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited Africa 226 189 397 Australia 101 58 143 Americas 134 99 217 Continuing operations 461 346 757 Discontinued operations - South Africa — 20 35 461 366 792 Equity-accounted joint ventures included above (32) (39) (56) 429 327 736 Total assets As at As at As at Jun Jun Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited South Africa — 622 — Africa 4,131 3,793 3,956 Australia 1,048 945 1,044 Americas 1,657 1,558 1,626 Corporate and other 829 956 1,046 7,665 7,874 7,672 |
Basis of preparation
Basis of preparation | 6 Months Ended |
Jun. 30, 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. 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 IAS 16 "Property, Plant and Equipment", amendment "Property, Plant and Equipment—Proceeds before Intended Use" issued by the IASB in May 2020 with an effective date of 1 January 2022, is likely to affect the financial reporting in future years. The amendment will be applied retrospectively to items of property, plant and equipment made available for use on or after the beginning of the earliest period presented when the entity first applies the amendment. Management is assessing the impact the amendment will have on the group. These 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 six months ended 30 June 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 | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure of revenue [Abstract] | |
Revenue | Revenue Six months Six months Year ended ended ended Jun Jun Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited Gold income 1,911 1,917 4,322 By-products 54 46 105 Revenue from product sales 1,965 1,963 4,427 |
Cost of sales
Cost of sales | 6 Months Ended |
Jun. 30, 2021 | |
Cost of Sales [Abstract] | |
Cost of sales | Cost of sales Six months Six months Year ended ended ended Jun Jun Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited Cash operating costs 1,077 858 1,881 Royalties 80 82 181 Other cash costs 6 6 12 Total cash costs 1,163 946 2,074 Retrenchment costs 1 1 2 Rehabilitation and other non-cash costs 12 29 32 Amortisation of tangible assets 182 254 521 Amortisation of right of use assets 30 22 47 Amortisation of intangible assets 1 1 2 Inventory change 11 37 21 1,400 1,290 2,699 |
Other expenses (income)
Other expenses (income) | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure of other operating income (expense) [Abstract] | |
Other expenses (income) | Other expenses (income) Six months Six months Year ended ended ended Jun Jun Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited Care and maintenance (1) 13 — — Government fiscal claims, cost of old tailings operations and other expenses 4 10 20 Pension and medical defined benefit provisions 3 3 8 Royalty received (2) (1) (2) Royalty receivables impaired — — 4 Retrenchment and related costs 1 — — Legal fees and project costs — 3 9 Refund from insurance claim — (5) (5) Other indirect taxes 7 18 23 26 28 57 (1) Obuasi mine was placed in care and maintenance following a fall of ground incident on 18 May 2021. |
Finance costs and unwinding of
Finance costs and unwinding of obligations | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure of finance costs and unwinding of obligations [Abstract] | |
Finance costs and unwinding of obligations | Finance costs and unwinding of obligations Six months Six months Year ended ended ended Jun Jun Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited Finance costs - borrowings 48 65 130 Finance costs - leases 5 4 8 Unwinding of obligations 2 17 39 55 86 177 |
Share of associates and joint v
Share of associates and joint ventures' profit | 6 Months Ended |
Jun. 30, 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 Six months Six months Year ended ended ended Jun Jun Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited Revenue 341 319 677 Operating costs and other expenses (186) (174) (353) Profit on sale of joint ventures — — 19 Net interest received (paid) 4 6 5 Profit (loss) before taxation 159 151 348 Taxation (37) (32) (70) Profit (loss) after taxation 122 119 278 |
Taxation
Taxation | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure of income tax [Abstract] | |
Taxation | Taxation Six months Six months Year ended ended ended Jun Jun Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited South African taxation Normal taxation — 1 1 Prior year (over) under provision (1) — — Deferred taxation Other temporary differences (1) — (13) 74 (1) (12) 75 Foreign taxation Normal taxation 115 225 553 Prior year under (over) provision — 1 8 Deferred taxation Temporary differences (2) 14 (4) 9 Prior year under (over) provision — — (6) Change in estimate 4 (2) (14) Change in statutory tax rate 2 — — 135 220 550 134 208 625 (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 six months ended 30 June 2021 include amounts giving rise to deferred tax assets (limited to generated taxable income) at Obuasi of nil (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 $21m (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 $80m (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 30 June 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 $51m (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 $51m (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 $267m (2020: $254m) including adjusted tax assessments relating to the years from 2015 to 2017 and 2018 to 2019 totalling $13m received in February 2021 and July 2021, respectively. 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 six months 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. In Ghana, the Ghanaian Parliament enacted the COVID-19 Health Recovery Levy Act, 2021 (Act 1068), effective 1 May 2021, to impose a special levy on the supply of goods and services and imports to raise revenue to address expenses resulting from the COVID-19 pandemic. The levy is chargeable at the rate of 1% calculated on the value of the taxable supply of the goods or services or on the value of the imports. It applies to both imports and domestic supply of goods or services in Ghana. |
Headline earnings
Headline earnings | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure of earnings per share [Notes] [Abstract] | |
Headline earnings | Headline earnings Six months Six months Year ended ended ended Jun Jun 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 362 421 953 Net impairment (impairment reversal) on held for sale assets (1) — (17) (17) Net impairment on property, plant and equipment and right of use asset (1) 2 — — (Profit) loss on disposal of discontinued operations — — 80 Taxation on profit (loss) on disposal of discontinued operations — — 1 Profit (loss) on disposal of joint ventures (1) — — (19) (Profit) loss on disposal of tangible assets (1) (1) — 2 Headline earnings (loss) 363 404 1,000 Headline earnings (loss) per ordinary share (US cents) (2) 87 97 238 Diluted headline earnings (loss) per ordinary share (US cents) (3) 87 97 238 (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 417,155,042 415,999,026 416,399,307 Fully vested options 1,834,464 2,173,297 2,634,209 Weighted average number of shares 418,989,506 418,172,323 419,033,516 Dilutive potential of share options 64,307 176,988 447,934 Dilutive number of ordinary shares 419,053,813 418,349,311 419,481,450 |
Share capital and premium
Share capital and premium | 6 Months Ended |
Jun. 30, 2021 | |
Share Capital, Reserves And Other Equity Interest [Abstract] | |
Share capital and premium | Share capital and premium As at As at As at Jun Jun 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: 417,345,340 (Dec 2020: 416,603,645; Mar 2020: 416,890,087) 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 7 12 15 7,257 7,247 7,250 Less: held within the group Redeemable preference shares (53) (53) (53) Balance at end of period 7,204 7,194 7,197 Share capital and premium 7,221 7,211 7,214 |
Borrowings
Borrowings | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure of borrowing costs [Abstract] | |
Borrowings | Borrowings AngloGold Ashanti’s borrowings are interest bearing. As at As at As at Jun Jun 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 7 1,526 2,226 Repayment of borrowings (7) (811) (2,310) Finance costs paid on borrowings (53) (69) (114) Interest charged to the income statement 51 62 115 Other borrowing cost — — (15) Deferred loan fees — — 4 Translation — (13) (8) Closing balance 1,929 2,728 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 53 69 114 Capitalised finance cost (9) (7) (17) Commitment fees, environmental guarantees fees and other 5 5 13 Total finance costs paid 49 67 110 Reconciliation of lease liabilities Opening balance 153 171 171 Lease liabilities recognised 54 14 23 Repayment of lease liabilities (30) (22) (47) Finance costs paid on lease liabilities (5) (4) (8) Interest charged to the income statement 5 4 8 Change in estimate — — (1) Translation (1) (6) 7 Closing balance 176 157 153 LIBOR linked borrowings The IBOR Phase 2 amendments became effective on 1 January 2021, The amendments had no material impact on the group financial statements as management is in the process of negotiating new reference rates on the IBOR linked borrowings, with bank syndicates. The table below provides further detail on revolving credit facilities (RCFs) which reference LIBOR. These facilities have yet to transfer to an alternative benchmark interest rate: US Dollar million Carrying value Repayable Repayable Siguiri RCF ($65m) (1) 67 67 — Geita RCF ($143m) (2) 72 72 — 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 30 June 2021 and matures in May 2022. (2) The Geita RCF consists of a Tanzanian shilling component which is capped at the equivalent of US$38m and this component bears interest at 12.5%. The remaining component currently bears interest at LIBOR plus 6.7%. The equivalent of $34m was undrawn under the Geita RCF at 30 June 2021. The maturity of the Geita RCF was extended from June 2021 to September 2021. (3) The $1.4bn multi-currency RCF was undrawn at 30 June 2021 and is available until October 2023. |
Cash generated from operations
Cash generated from operations | 6 Months Ended |
Jun. 30, 2021 | |
Statement of cash flows [abstract] | |
Cash generated from operations | Cash generated from operations Six months Six months Year ended ended ended Jun Jun Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited Profit (loss) before taxation 507 597 1,589 Adjusted for: Movement on non-hedge derivatives and other commodity contracts — 10 — Amortisation of tangible and right of use assets 212 276 568 Amortisation of intangible assets 1 1 2 Finance costs and unwinding of obligations 55 86 177 Environmental rehabilitation and other expenditure (21) (20) (50) Impairment, derecognition of assets and (profit) loss on disposal 2 — (1) Other expenses (income) 14 32 51 Profit (loss) on sale of assets (2) — — Interest income (29) (9) (27) Share of associates and joint ventures’ (profit) loss (122) (119) (278) Other non-cash movements 17 2 35 Movements in working capital (20) (192) (238) 614 664 1,828 Movements in working capital: (Increase) decrease in inventories 60 (71) (83) (Increase) decrease in trade and other receivables (75) (75) (163) Increase (decrease) in trade, other payables and provisions (5) (46) 8 (20) (192) (238) |
Financial risk management activ
Financial risk management activities | 6 Months Ended |
Jun. 30, 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. Other 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 Jun Jun Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited Carrying amount 1,929 2,728 1,931 Fair value 2,085 2,826 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 Jun 2021 Jun 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) — — 15 19 — — Other equity securities FVOCI 147 147 132 132 186 186 Deferred compensation asset 26 26 28 28 Financial liabilities measured at fair value: Gold and oil derivative contracts (2) 10 10 (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 $26m is being recognised in the statement of financial position as at 30 June 2021. Included in the $26m closing balance is a change in estimate resulting in an unrealised loss of $3m (included in "Foreign exchange and other (losses) gains" in the income statement) and unwinding of the non-current receivable of $1m. 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 30 June 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 $139.6m. At Iduapriem, we have provided a bond comprising of a cash component of $10.7m 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 $53.9m. 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 $208.7m. 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 | 6 Months Ended |
Jun. 30, 2021 | |
Capital commitments [abstract] | |
Capital commitments | Capital commitments As at As at As at Jun Jun Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited Orders placed and outstanding on capital contracts at the prevailing rate of exchange (1) 217 138 120 (1) Includes the group's attributable share of capital commitments relating to associates and joint ventures and nil (Jun 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 | 6 Months Ended |
Jun. 30, 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 30 June 2021 and 31 December 2020 are detailed below: Contingencies and guarantees As at As at Jun 2021 Dec 2020 US Dollar million Unaudited Audited Contingent liabilities Litigation – Ghana (1) (2) — 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 the Obuasi mine. The parties reached agreement on the terms of the separation and concluded a separation agreement in November 2012. In 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 held an arbitration management meeting to address initial procedural matters in July 2019. In May 2020, the Ghana Arbitration Centre granted MBC’s request to stay the arbitral proceedings indefinitely to enable it and AGAG to explore a possible settlement. On 12 April 2021, the parties executed a settlement agreement to resolve the matter at no cost to either of the parties . (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 | 6 Months Ended |
Jun. 30, 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 (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. Six months Six months ended ended Jun 2020 Jun 2020 US Dollar Million As previously reported Adjustments Restated Profit for the period 428 — 428 Items that will be reclassified subsequently to profit or loss: Exchange differences on translation of foreign operations (62) 50 (12) Items that will not be reclassified subsequently to profit or loss: Exchange differences on translation of non-foreign operations — (50) (50) Net gain (loss) on equity investments 53 — 53 Deferred taxation thereon (7) — (7) 46 (50) (4) Other comprehensive income ( loss) for the period, net of tax (16) — (16) Total comprehensive income (loss) for the period, net of tax 412 — 412 |
COVID-19 pandemic
COVID-19 pandemic | 6 Months Ended |
Jun. 30, 2021 | |
COVID-19 pandemic [Abstract] | |
COVID-19 pandemic | COVID-19 pandemic AngloGold Ashanti continues to respond to the evolving COVID-19 pandemic, including the multiple waves of the outbreak and the surge of new variants of the virus, 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 Organization (WHO). The health and well-being of our employees and our host communities remains a key priority for us. 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 depending on prevailing conditions from time to time. During the first half 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 the recent peaks, the number of cases in Brazil remains high. In addition, Cerro Vanguardia continues to operate at between 60% to 80% mining capacity due to ongoing inter-provincial travel restrictions in Argentina, which continue to prevent certain employees from travelling to this remote site, hampering normal crew rotations. The government-imposed lockdowns, quarantines and travel restrictions in Argentina have necessitated an expansion of on-site accommodation to facilitate increased numbers of people on site for longer periods of time. |
Announcements and subsequent ev
Announcements and subsequent events | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure Of Additional Information [Abstract] | |
Announcements and subsequent events | Announcements and subsequent events AngloGold Ashanti Submits Proposal to Acquire Corvus On 13 July 2021, AngloGold Ashanti announced that a non-binding proposal was submitted to the Board of Directors of Corvus Gold Inc. (Corvus) to acquire for cash all of the issued and outstanding common shares of Corvus which the Company does not already beneficially own. The proposed combination of Corvus’ existing exploration assets with AngloGold Ashanti’s assets in the near vicinity would further consolidate one of the largest new gold districts in Nevada and would provide the opportunity for AngloGold Ashanti to establish, in the medium and longer term, a meaningful, low-cost, long-life production base in this premier mining jurisdiction. |
Basis of preparation (Policies)
Basis of preparation (Policies) | 6 Months Ended |
Jun. 30, 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. 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 IAS 16 "Property, Plant and Equipment", amendment "Property, Plant and Equipment—Proceeds before Intended Use" issued by the IASB in May 2020 with an effective date of 1 January 2022, is likely to affect the financial reporting in future years. The amendment will be applied retrospectively to items of property, plant and equipment made available for use on or after the beginning of the earliest period presented when the entity first applies the amendment. Management is assessing the impact the amendment will have on the group. These 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 six months ended 30 June 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) | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure of entity's operating segments [Abstract] | |
Disclosure of segmental information | Gold income Six months Six months Year ended ended ended Jun Jun Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited Africa 1,360 1,265 2,769 Australia 398 437 989 Americas 475 518 1,211 2,233 2,220 4,969 Equity-accounted joint ventures included above (322) (303) (647) Continuing operations 1,911 1,917 4,322 Discontinued operations - South Africa — 234 408 1,911 2,151 4,730 By-product revenue Six months Six months Year ended ended ended Jun Jun Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited Africa 3 2 4 Australia 2 1 3 Americas 50 44 99 55 47 106 Equity-accounted joint ventures included above (1) (1) (1) Continuing operations 54 46 105 Discontinued operations - South Africa — — 1 54 46 106 Cost of sales Six months Six months Year ended ended ended Jun Jun Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited Africa 869 745 1,572 Australia 346 331 705 Americas 364 387 764 Corporate and other (1) (9) (2) 1,578 1,454 3,039 Equity-accounted joint ventures included above (178) (164) (340) Continuing operations 1,400 1,290 2,699 Discontinued operations - South Africa — 174 287 1,400 1,464 2,986 Gross profit (loss) Six months Six months Year ended ended ended Jun Jun Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited Africa 493 522 1,201 Australia 53 107 286 Americas 162 168 532 Corporate and other 2 1 (2) 710 798 2,017 Equity-accounted joint ventures included above (145) (140) (308) Continuing operations 565 658 1,709 Discontinued operations - South Africa — 19 83 565 677 1,792 Amortisation Six months Six months Year ended ended ended Jun Jun Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited Africa 126 186 349 Australia 63 70 160 Americas 72 71 163 Corporate and other 1 1 2 262 328 674 Equity-accounted joint ventures included above (49) (51) (104) 213 277 570 Capital expenditure Six months Six months Year ended ended ended Jun Jun Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited Africa 226 189 397 Australia 101 58 143 Americas 134 99 217 Continuing operations 461 346 757 Discontinued operations - South Africa — 20 35 461 366 792 Equity-accounted joint ventures included above (32) (39) (56) 429 327 736 Total assets As at As at As at Jun Jun Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited South Africa — 622 — Africa 4,131 3,793 3,956 Australia 1,048 945 1,044 Americas 1,657 1,558 1,626 Corporate and other 829 956 1,046 7,665 7,874 7,672 |
Revenue (Tables)
Revenue (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure of revenue [Abstract] | |
Disclosure of revenue | Six months Six months Year ended ended ended Jun Jun Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited Gold income 1,911 1,917 4,322 By-products 54 46 105 Revenue from product sales 1,965 1,963 4,427 |
Cost of sales (Tables)
Cost of sales (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Cost of Sales [Abstract] | |
Cost of sales by cost | Six months Six months Year ended ended ended Jun Jun Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited Cash operating costs 1,077 858 1,881 Royalties 80 82 181 Other cash costs 6 6 12 Total cash costs 1,163 946 2,074 Retrenchment costs 1 1 2 Rehabilitation and other non-cash costs 12 29 32 Amortisation of tangible assets 182 254 521 Amortisation of right of use assets 30 22 47 Amortisation of intangible assets 1 1 2 Inventory change 11 37 21 1,400 1,290 2,699 |
Other expenses (income) (Tables
Other expenses (income) (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure of other operating income (expense) [Abstract] | |
Other operating income (expense) | Six months Six months Year ended ended ended Jun Jun Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited Care and maintenance (1) 13 — — Government fiscal claims, cost of old tailings operations and other expenses 4 10 20 Pension and medical defined benefit provisions 3 3 8 Royalty received (2) (1) (2) Royalty receivables impaired — — 4 Retrenchment and related costs 1 — — Legal fees and project costs — 3 9 Refund from insurance claim — (5) (5) Other indirect taxes 7 18 23 26 28 57 (1) Obuasi mine was placed in care and maintenance following a fall of ground incident on 18 May 2021. |
Finance costs and unwinding o_2
Finance costs and unwinding of obligations (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure of finance costs and unwinding of obligations [Abstract] | |
Disclosure of finance costs and unwinding of obligations by item | Six months Six months Year ended ended ended Jun Jun Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited Finance costs - borrowings 48 65 130 Finance costs - leases 5 4 8 Unwinding of obligations 2 17 39 55 86 177 |
Share of associates and joint_2
Share of associates and joint ventures' profit (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure of share of associates and joint ventures’ profit (loss) [Abstract] | |
Share of associates and joint ventures' profit (loss) | Six months Six months Year ended ended ended Jun Jun Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited Revenue 341 319 677 Operating costs and other expenses (186) (174) (353) Profit on sale of joint ventures — — 19 Net interest received (paid) 4 6 5 Profit (loss) before taxation 159 151 348 Taxation (37) (32) (70) Profit (loss) after taxation 122 119 278 |
Taxation (Tables)
Taxation (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure of income tax [Abstract] | |
Disclosure of income tax expense | Six months Six months Year ended ended ended Jun Jun Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited South African taxation Normal taxation — 1 1 Prior year (over) under provision (1) — — Deferred taxation Other temporary differences (1) — (13) 74 (1) (12) 75 Foreign taxation Normal taxation 115 225 553 Prior year under (over) provision — 1 8 Deferred taxation Temporary differences (2) 14 (4) 9 Prior year under (over) provision — — (6) Change in estimate 4 (2) (14) Change in statutory tax rate 2 — — 135 220 550 134 208 625 (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 six months ended 30 June 2021 include amounts giving rise to deferred tax assets (limited to generated taxable income) at Obuasi of nil (Dec 2020: $7m). |
Headline earnings (Tables)
Headline earnings (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure of earnings per share [Abstract] | |
Headline earnings | Six months Six months Year ended ended ended Jun Jun 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 362 421 953 Net impairment (impairment reversal) on held for sale assets (1) — (17) (17) Net impairment on property, plant and equipment and right of use asset (1) 2 — — (Profit) loss on disposal of discontinued operations — — 80 Taxation on profit (loss) on disposal of discontinued operations — — 1 Profit (loss) on disposal of joint ventures (1) — — (19) (Profit) loss on disposal of tangible assets (1) (1) — 2 Headline earnings (loss) 363 404 1,000 Headline earnings (loss) per ordinary share (US cents) (2) 87 97 238 Diluted headline earnings (loss) per ordinary share (US cents) (3) 87 97 238 (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 417,155,042 415,999,026 416,399,307 Fully vested options 1,834,464 2,173,297 2,634,209 Weighted average number of shares 418,989,506 418,172,323 419,033,516 Dilutive potential of share options 64,307 176,988 447,934 Dilutive number of ordinary shares 419,053,813 418,349,311 419,481,450 |
Share capital and premium (Tabl
Share capital and premium (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Share Capital, Reserves And Other Equity Interest [Abstract] | |
Disclosure of share capital | As at As at As at Jun Jun 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: 417,345,340 (Dec 2020: 416,603,645; Mar 2020: 416,890,087) 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 7 12 15 7,257 7,247 7,250 Less: held within the group Redeemable preference shares (53) (53) (53) Balance at end of period 7,204 7,194 7,197 Share capital and premium 7,221 7,211 7,214 |
Borrowings (Tables)
Borrowings (Tables) | 6 Months Ended |
Jun. 30, 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 Jun Jun 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 7 1,526 2,226 Repayment of borrowings (7) (811) (2,310) Finance costs paid on borrowings (53) (69) (114) Interest charged to the income statement 51 62 115 Other borrowing cost — — (15) Deferred loan fees — — 4 Translation — (13) (8) Closing balance 1,929 2,728 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 53 69 114 Capitalised finance cost (9) (7) (17) Commitment fees, environmental guarantees fees and other 5 5 13 Total finance costs paid 49 67 110 US Dollar million Carrying value Repayable Repayable Siguiri RCF ($65m) (1) 67 67 — Geita RCF ($143m) (2) 72 72 — 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 30 June 2021 and matures in May 2022. (2) The Geita RCF consists of a Tanzanian shilling component which is capped at the equivalent of US$38m and this component bears interest at 12.5%. The remaining component currently bears interest at LIBOR plus 6.7%. The equivalent of $34m was undrawn under the Geita RCF at 30 June 2021. The maturity of the Geita RCF was extended from June 2021 to September 2021. (3) The $1.4bn multi-currency RCF was undrawn at 30 June 2021 and is available until October 2023. |
Reconciliation of lease labilities | Reconciliation of lease liabilities Opening balance 153 171 171 Lease liabilities recognised 54 14 23 Repayment of lease liabilities (30) (22) (47) Finance costs paid on lease liabilities (5) (4) (8) Interest charged to the income statement 5 4 8 Change in estimate — — (1) Translation (1) (6) 7 Closing balance 176 157 153 |
Cash generated from operations
Cash generated from operations (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Statement of cash flows [abstract] | |
Schedule of cash generated from operations | Six months Six months Year ended ended ended Jun Jun Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited Profit (loss) before taxation 507 597 1,589 Adjusted for: Movement on non-hedge derivatives and other commodity contracts — 10 — Amortisation of tangible and right of use assets 212 276 568 Amortisation of intangible assets 1 1 2 Finance costs and unwinding of obligations 55 86 177 Environmental rehabilitation and other expenditure (21) (20) (50) Impairment, derecognition of assets and (profit) loss on disposal 2 — (1) Other expenses (income) 14 32 51 Profit (loss) on sale of assets (2) — — Interest income (29) (9) (27) Share of associates and joint ventures’ (profit) loss (122) (119) (278) Other non-cash movements 17 2 35 Movements in working capital (20) (192) (238) 614 664 1,828 Movements in working capital: (Increase) decrease in inventories 60 (71) (83) (Increase) decrease in trade and other receivables (75) (75) (163) Increase (decrease) in trade, other payables and provisions (5) (46) 8 (20) (192) (238) |
Financial risk management act_2
Financial risk management activities (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure of detailed information about financial instruments [abstract] | |
Summary of carrying amount and fair value | As at As at As at Jun Jun Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited Carrying amount 1,929 2,728 1,931 Fair value 2,085 2,826 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 Jun 2021 Jun 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) — — 15 19 — — Other equity securities FVOCI 147 147 132 132 186 186 Deferred compensation asset 26 26 28 28 Financial liabilities measured at fair value: Gold and oil derivative contracts (2) 10 10 (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) | 6 Months Ended |
Jun. 30, 2021 | |
Contractual Capital Commitments [Abstract] | |
Summary of capital commitments | As at As at As at Jun Jun Dec 2021 2020 2020 US Dollar million Unaudited Unaudited Audited Orders placed and outstanding on capital contracts at the prevailing rate of exchange (1) 217 138 120 (1) Includes the group's attributable share of capital commitments relating to associates and joint ventures and nil (Jun 2020: $7m, Dec 2020: nil) relating to discontinued operations. |
Contractual commitments and c_2
Contractual commitments and contingencies (Tables) | 6 Months Ended |
Jun. 30, 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 30 June 2021 and 31 December 2020 are detailed below: Contingencies and guarantees As at As at Jun 2021 Dec 2020 US Dollar million Unaudited Audited Contingent liabilities Litigation – Ghana (1) (2) — 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 the Obuasi mine. The parties reached agreement on the terms of the separation and concluded a separation agreement in November 2012. In 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 held an arbitration management meeting to address initial procedural matters in July 2019. In May 2020, the Ghana Arbitration Centre granted MBC’s request to stay the arbitral proceedings indefinitely to enable it and AGAG to explore a possible settlement. On 12 April 2021, the parties executed a settlement agreement to resolve the matter at no cost to either of the parties . (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) | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure of reclassifications or changes in presentation [abstract] | |
Summary of reclassification of Income Statement | Six months Six months ended ended Jun 2020 Jun 2020 US Dollar Million As previously reported Adjustments Restated Profit for the period 428 — 428 Items that will be reclassified subsequently to profit or loss: Exchange differences on translation of foreign operations (62) 50 (12) Items that will not be reclassified subsequently to profit or loss: Exchange differences on translation of non-foreign operations — (50) (50) Net gain (loss) on equity investments 53 — 53 Deferred taxation thereon (7) — (7) 46 (50) (4) Other comprehensive income ( loss) for the period, net of tax (16) — (16) Total comprehensive income (loss) for the period, net of tax 412 — 412 |
Segmental reporting (Details)
Segmental reporting (Details) - USD ($) $ in Millions | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | |
Disclosure of operating segments [line items] | |||
Gold income | $ 1,911 | $ 1,917 | $ 4,322 |
By-product revenue | 54 | 46 | 105 |
Cost of sales | 1,400 | 1,290 | 2,699 |
Gross profit (loss) | 565 | 658 | 1,709 |
Capital expenditure | 429 | 327 | 736 |
Assets | 7,665 | 7,874 | 7,672 |
Discontinued operations - South Africa | |||
Disclosure of operating segments [line items] | |||
Gold income | 0 | 234 | 408 |
By-product revenue | 0 | 0 | 1 |
Cost of sales | 0 | 174 | 287 |
Gross profit (loss) | 0 | 19 | 83 |
Aggregate continuing and discontinued operations | |||
Disclosure of operating segments [line items] | |||
Gold income | 1,911 | 2,151 | 4,730 |
By-product revenue | 54 | 46 | 106 |
Cost of sales | 1,400 | 1,464 | 2,986 |
Gross profit (loss) | 565 | 677 | 1,792 |
Amortisation | 213 | 277 | 570 |
Operating segments | |||
Disclosure of operating segments [line items] | |||
Gold income | 2,233 | 2,220 | 4,969 |
By-product revenue | 55 | 47 | 106 |
Cost of sales | 1,578 | 1,454 | 3,039 |
Gross profit (loss) | 710 | 798 | 2,017 |
Amortisation | 262 | 328 | 674 |
Capital expenditure | 461 | 346 | 757 |
Operating segments | Discontinued operations - South Africa | |||
Disclosure of operating segments [line items] | |||
Capital expenditure | 0 | 20 | 35 |
Operating segments | Aggregate continuing and discontinued operations | |||
Disclosure of operating segments [line items] | |||
Capital expenditure | 461 | 366 | 792 |
Africa | |||
Disclosure of operating segments [line items] | |||
Assets | 4,131 | 3,793 | 3,956 |
Africa | Operating segments | |||
Disclosure of operating segments [line items] | |||
Gold income | 1,360 | 1,265 | 2,769 |
By-product revenue | 3 | 2 | 4 |
Cost of sales | 869 | 745 | 1,572 |
Gross profit (loss) | 493 | 522 | 1,201 |
Amortisation | 126 | 186 | 349 |
Capital expenditure | 226 | 189 | 397 |
Australia | |||
Disclosure of operating segments [line items] | |||
Assets | 1,048 | 945 | 1,044 |
Australia | Operating segments | |||
Disclosure of operating segments [line items] | |||
Gold income | 398 | 437 | 989 |
By-product revenue | 2 | 1 | 3 |
Cost of sales | 346 | 331 | 705 |
Gross profit (loss) | 53 | 107 | 286 |
Amortisation | 63 | 70 | 160 |
Capital expenditure | 101 | 58 | 143 |
Americas | |||
Disclosure of operating segments [line items] | |||
Assets | 1,657 | 1,558 | 1,626 |
Americas | Operating segments | |||
Disclosure of operating segments [line items] | |||
Gold income | 475 | 518 | 1,211 |
By-product revenue | 50 | 44 | 99 |
Cost of sales | 364 | 387 | 764 |
Gross profit (loss) | 162 | 168 | 532 |
Amortisation | 72 | 71 | 163 |
Capital expenditure | 134 | 99 | 217 |
Equity-accounted joint ventures included above | Elimination of intersegment amounts | |||
Disclosure of operating segments [line items] | |||
Gold income | 322 | 303 | 647 |
By-product revenue | 1 | 1 | 1 |
Cost of sales | 178 | 164 | 340 |
Gross profit (loss) | 145 | 140 | 308 |
Amortisation | 49 | 51 | 104 |
Capital expenditure | 32 | 39 | 56 |
Corporate and other | |||
Disclosure of operating segments [line items] | |||
Assets | 829 | 956 | 1,046 |
Corporate and other | Operating segments | |||
Disclosure of operating segments [line items] | |||
Cost of sales | 1 | 9 | 2 |
Gross profit (loss) | 2 | 1 | (2) |
Amortisation | 1 | 1 | 2 |
South Africa | |||
Disclosure of operating segments [line items] | |||
Assets | $ 0 | $ 622 | $ 0 |
Revenue (Details)
Revenue (Details) - USD ($) $ in Millions | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | |
Disclosure of revenue [Abstract] | |||
Gold income | $ 1,911 | $ 1,917 | $ 4,322 |
By-products | 54 | 46 | 105 |
Revenue from product sales | $ 1,965 | $ 1,963 | $ 4,427 |
Cost of sales (Details)
Cost of sales (Details) - USD ($) $ in Millions | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | |
Cost of Sales [Abstract] | |||
Cash operating costs | $ 1,077 | $ 858 | $ 1,881 |
Royalties | 80 | 82 | 181 |
Other cash costs | 6 | 6 | 12 |
Total cash costs | 1,163 | 946 | 2,074 |
Retrenchment costs | 1 | 1 | 2 |
Rehabilitation and other non-cash costs | 12 | 29 | 32 |
Amortisation of tangible assets | 182 | 254 | 521 |
Amortisation of right of use assets | 30 | 22 | 47 |
Amortisation of intangible assets | 1 | 1 | 2 |
Inventory change | 11 | 37 | 21 |
Cost of sales | $ 1,400 | $ 1,290 | $ 2,699 |
Other expenses (income) (Detail
Other expenses (income) (Details) - USD ($) $ in Millions | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | |
Disclosure of other operating income (expense) [Abstract] | |||
Care and maintenance | $ 13 | $ 0 | $ 0 |
Government fiscal claims, cost of old tailings operations and other expenses | 4 | 10 | 20 |
Pension and medical defined benefit provisions | 3 | 3 | 8 |
Royalty received | (2) | (1) | (2) |
Royalty receivables impaired | 0 | 0 | 4 |
Retrenchment and related costs | 1 | 0 | 0 |
Legal fees and project costs | 0 | 3 | 9 |
Refund from insurance claim | 0 | (5) | (5) |
Other indirect taxes | 7 | 18 | 23 |
Other operating income (expense) | $ 26 | $ 28 | $ 57 |
Finance costs and unwinding o_3
Finance costs and unwinding of obligations (Details) - USD ($) $ in Millions | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | |
Disclosure of finance costs and unwinding of obligations [Abstract] | |||
Finance costs - borrowings | $ 48 | $ 65 | $ 130 |
Finance costs - leases | 5 | 4 | 8 |
Unwinding of obligations | 2 | 17 | 39 |
Finance costs and unwinding of obligations | $ 55 | $ 86 | $ 177 |
Share of associates and joint_3
Share of associates and joint ventures' profit (Details) - USD ($) $ in Millions | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | |
Disclosure of associates [line items] | |||
Net interest received (paid) | $ 29 | $ 9 | $ 27 |
Profit (loss) before taxation | 507 | 597 | 1,589 |
Taxation | (134) | (208) | (625) |
Profit (loss) for the period from continuing operations | 373 | 389 | 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 | 341 | 319 | 677 |
Operating costs and other expenses | (186) | (174) | (353) |
Net interest received (paid) | 4 | 6 | 5 |
Profit (loss) before taxation | 159 | 151 | 348 |
Taxation | (37) | (32) | (70) |
Profit (loss) for the period from continuing operations | $ 122 | $ 119 | $ 278 |
Taxation - Income tax benefit (
Taxation - Income tax benefit (expense) (Details) - USD ($) $ in Millions | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | |
Deferred taxation | |||
Taxation | $ 134 | $ 208 | $ 625 |
Deferred taxation | 7 | 83 | 7 |
Derecognised tax assets | |||
Deferred taxation | |||
Temporary differences | 78 | ||
Derecognised tax assets | South African 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 | 1 | 1 |
Prior year under (over) provision | (1) | 0 | 0 |
Deferred taxation | |||
Temporary differences | 0 | (13) | 74 |
Taxation | (1) | (12) | 75 |
Foreign taxation | |||
Disclosure of Income Taxes [Line Items] | |||
Normal taxation | 115 | 225 | 553 |
Prior year under (over) provision | 0 | 1 | 8 |
Deferred taxation | |||
Temporary differences | 14 | (4) | 9 |
Prior year (over) under provision | 0 | 0 | (6) |
Change in estimate | 4 | (2) | (14) |
Change in statutory tax rate | 2 | 0 | 0 |
Taxation | 135 | $ 220 | 550 |
Ghana | |||
Deferred taxation | |||
Deferred taxation | $ 0 | $ 7 |
Taxation - Narrative (Details)
Taxation - Narrative (Details) - USD ($) $ in Millions | 1 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended |
Feb. 28, 2021 | Mar. 31, 2021 | Jun. 30, 2021 | Dec. 31, 2020 | |
Disclosure of contingent liabilities [line items] | ||||
Income taxes refund | $ 7 | |||
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 | 21 | 20 | ||
Columbian Tax Authority | ||||
Disclosure of contingent liabilities [line items] | ||||
Loss contingency, damages sought | 80 | 86 | ||
Loss contingency, reduction of damages sought | 51 | 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 | $ 267 | $ 254 | ||
Loss contingency, increase in damages sought | $ 13 |
Headline earnings - Schedule of
Headline earnings - Schedule of earnings (Details) - USD ($) $ / shares in Units, $ in Millions | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | |
Disclosure of earnings per share [Abstract] | |||
Profit (loss) attributable to equity shareholders | $ 362 | $ 421 | $ 953 |
Net impairment (impairment reversal) on held for sale assets | 0 | (17) | (17) |
Net impairment on property, plant and equipment and right of use asset | 2 | 0 | 0 |
(Profit) loss on disposal of discontinued operations | 0 | 0 | 80 |
Taxation on profit (loss) on disposal of discontinued operations | 0 | 0 | 1 |
Profit on disposal of joint ventures | 0 | 0 | (19) |
Net loss (profit) on disposal of tangible assets | (1) | 0 | 2 |
Headline earnings (loss) | $ 363 | $ 404 | $ 1,000 |
Headline earnings (loss) per ordinary share (USD cents per share) | $ 87 | $ 97 | $ 238 |
Diluted headline earnings (loss) per ordinary share (USD cents per share) | $ 87 | $ 97 | $ 238 |
Threshold for disclosure of tax effect | $ 1 |
Headline earnings - Dilutive sh
Headline earnings - Dilutive shares (Details) - shares | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | |
Disclosure of earnings per share [Abstract] | |||
Ordinary shares (in shares) | 417,155,042 | 415,999,026 | 416,399,307 |
Fully vested options (in shares) | 1,834,464 | 2,173,297 | 2,634,209 |
Weighted average number of shares (in shares) | 418,989,506 | 418,172,323 | 419,033,516 |
Dilutive potential of share options (in shares) | 64,307 | 176,988 | 447,934 |
Dilutive number of ordinary shares (in shares) | 419,053,813 | 418,349,311 | 419,481,450 |
Share capital and premium (Deta
Share capital and premium (Details) $ in Millions | 6 Months Ended | 12 Months Ended | ||||
Jun. 30, 2021USD ($)shares | Jun. 30, 2020USD ($)shares | Dec. 31, 2020USD ($)shares | Jun. 30, 2021R / shares | Dec. 31, 2020R / shares | Jun. 30, 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 | 7 | 12 | 15 | |||
Balance at end of period | 7,257 | 7,247 | 7,250 | |||
Redeemable preference shares | (53) | (53) | (53) | |||
Balance at end of period | 7,204 | 7,194 | 7,197 | |||
Share capital and premium | $ 7,221 | $ 7,211 | $ 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 | 417,345,340 | 416,890,087 | 416,603,645 | |||
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 | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | |
Disclosure of borrowing costs [Abstract] | |||
Opening balance | $ 1,931 | $ 2,033 | $ 2,033 |
Proceeds from borrowings | 7 | 1,526 | 2,226 |
Repayment of borrowings | (7) | (811) | (2,310) |
Finance costs paid on borrowings | (53) | (69) | (114) |
Interest charged to the income statement | 51 | 62 | 115 |
Other borrowing cost | 0 | 0 | (15) |
Deferred loan fees | 0 | 0 | 4 |
Translation | 0 | (13) | (8) |
Closing balance | 1,929 | 2,728 | 1,931 |
Finance costs paid on borrowings | 53 | 69 | 114 |
Capitalised finance cost | (9) | (7) | (17) |
Commitment fees, environmental guarantees fees and other | 5 | 5 | 13 |
Total finance costs paid | $ 49 | $ 67 | $ 110 |
Borrowings - Reconciliation of
Borrowings - Reconciliation of lease liabilities (Details) - USD ($) $ in Millions | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | |
Disclosure of borrowing costs [Abstract] | |||
Opening balance | $ 153 | $ 171 | $ 171 |
Lease liabilities recognised | 54 | 14 | 23 |
Repayment of lease liabilities | (30) | (22) | (47) |
Finance costs paid on lease liabilities | (5) | (4) | (8) |
Interest expense on lease liabilities | 5 | 4 | 8 |
Change in estimate | 0 | 0 | (1) |
Translation | (1) | (6) | 7 |
Closing balance | $ 176 | $ 157 | $ 153 |
Borrowings - LIBOR linked borro
Borrowings - LIBOR linked borrowings (Details) $ in Millions | Jun. 30, 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 | 67 |
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 | 0 |
Geita RCF ($143m) | |
Disclosure of detailed information about borrowings [line items] | |
Notional amount | $ 143 |
Borrowings, adjustment to interest rate basis | 6.70% |
Geita RCF ($143m) | Financial liabilities at amortised cost | |
Disclosure of detailed information about borrowings [line items] | |
Unsecured bank loans received | $ 72 |
Geita RCF ($143m) | Financial liabilities at amortised cost | Repayable within one year | |
Disclosure of detailed information about borrowings [line items] | |
Unsecured bank loans received | 72 |
Geita RCF ($143m) | 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 $150 million revolving credit facility | |
Disclosure of detailed information about borrowings [line items] | |
Borrowings maximum, Tanzanian Shilling facility | 38 |
Undrawn borrowing facilities | $ 34 |
Tanzanian Shilling components of unsecured $150 million multicurrency facility | |
Disclosure of detailed information about borrowings [line items] | |
Borrowings, interest rate | 12.50% |
Cash generated from operation_2
Cash generated from operations (Details) - USD ($) $ in Millions | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | |
Statement of cash flows [abstract] | |||
Profit (loss) before taxation | $ 507 | $ 597 | $ 1,589 |
Adjusted for: | |||
Movement on non-hedge derivatives and other commodity contracts | 0 | 10 | 0 |
Amortisation of tangible and right of use assets | 212 | 276 | 568 |
Amortisation of intangible assets | 1 | 1 | 2 |
Finance costs and unwinding of obligations | 55 | 86 | 177 |
Environmental rehabilitation and other expenditure | (21) | (20) | (50) |
Impairment, derecognition of assets and (profit) loss on disposal | 2 | 0 | (1) |
Other expenses (income) | 14 | 32 | 51 |
Profit (loss) on sale of assets | (2) | 0 | 0 |
Interest income | (29) | (9) | (27) |
Share of associates and joint ventures’ (profit) loss | (122) | (119) | (278) |
Other non-cash movements | 17 | 2 | 35 |
Movements in working capital | (20) | (192) | (238) |
Cash generated from operations | 614 | 664 | 1,828 |
(Increase) decrease in inventories | 60 | (71) | (83) |
(Increase) decrease in trade and other receivables | (75) | (75) | (163) |
Increase (decrease) in trade, other payables and provisions | (5) | (46) | 8 |
Movements in working capital | $ (20) | $ (192) | $ (238) |
Financial risk management act_3
Financial risk management activities - Fair value of financial instruments (Details) - USD ($) $ in Millions | Jun. 30, 2021 | Dec. 31, 2020 | Jun. 30, 2020 |
Disclosure of detailed information about financial instruments [abstract] | |||
Carrying amount | $ 1,929 | $ 1,931 | $ 2,728 |
Fair value | $ 2,085 | $ 2,131 | $ 2,826 |
Financial risk management act_4
Financial risk management activities - Assets and liabilities measured at fair value on a recurring basis (Details) - USD ($) $ in Millions | Jun. 30, 2021 | Dec. 31, 2020 | Jun. 30, 2020 |
Disclosure of fair value measurement of assets [line items] | |||
Assets | $ 7,665 | $ 7,672 | $ 7,874 |
Liabilities | 3,803 | 3,932 | 4,826 |
Other equity securities FVTPL | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 0 | 0 | 19 |
Other equity securities FVTPL | Level 1 | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 15 | ||
Other equity securities FVOCI | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 147 | 186 | 132 |
Other equity securities FVOCI | Level 1 | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 147 | 186 | 132 |
Deferred compensation asset | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 26 | 28 | |
Deferred compensation asset | Level 3 | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | $ 26 | $ 28 | |
Gold and oil derivative contracts | |||
Disclosure of fair value measurement of assets [line items] | |||
Liabilities | 10 | ||
Gold and oil derivative contracts | Level 2 | |||
Disclosure of fair value measurement of assets [line items] | |||
Liabilities | $ 10 |
Financial risk management act_5
Financial risk management activities - Fair value narrative (Details) | Feb. 12, 2020USD ($)oz | Jun. 30, 2021USD ($) | Dec. 31, 2020USD ($) | Jun. 30, 2020USD ($) |
Disclosure of fair value measurement of assets [line items] | ||||
Deferred compensation asset | $ 7,665,000,000 | $ 7,672,000,000 | $ 7,874,000,000 | |
Deferred compensation asset | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Deferred compensation asset | 26,000,000 | 28,000,000 | ||
Deferred compensation asset | Level 3 | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Deferred compensation asset | 26,000,000 | 28,000,000 | ||
Decrease due to change in estimate | 3,000,000 | |||
Impact of unwinding of non-current receivable | $ (1,000,000) | |||
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 African assets | Deferred compensation asset | Level 3 | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Deferred compensation asset | $ 26,000,000 | |||
South African 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) - Jun. 30, 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 | $ 139.6 | |
Ghana | Iduapriem site | ||
Disclosure of other provisions [line items] | ||
Carrying value of liability | $ 53,900 | |
Cash component of bond | 10,700 | |
Bond guarantees issued by banks | 38,600 | |
Ghana | Obuasi site | ||
Disclosure of other provisions [line items] | ||
Carrying value of liability | 208,700 | |
Cash component of bond | 21,340 | |
Bond guarantees issued by banks | $ 30,000 |
Capital commitments (Details)
Capital commitments (Details) - USD ($) $ in Millions | Jun. 30, 2021 | Dec. 31, 2020 | Jun. 30, 2020 |
Disclosure of capital commitments [line items] | |||
Orders placed and outstanding on capital contracts at the prevailing rate of exchange | $ 217 | $ 120 | $ 138 |
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 | Jun. 30, 2021USD ($) | Dec. 31, 2020USD ($) | Feb. 20, 2014USD ($) | Apr. 02, 2013plaintiff |
Disclosure of contingent liabilities [line items] | ||||
Contingent liabilities | $ 0 | $ 97 | ||
Number of plaintiffs | plaintiff | 152 | |||
Litigation | AngloGold Ashanti (Ghana) Limited | ||||
Disclosure of contingent liabilities [line items] | ||||
Contingent liabilities | $ 0 | $ 97 | $ 97 |
Restatement of prior year dis_3
Restatement of prior year disclosures (Details) - USD ($) $ in Millions | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | ||
Disclosure of reclassifications or changes in presentation [line items] | ||||
Profit (loss) for the period | $ 373 | $ 428 | $ 971 | |
Items that will be reclassified subsequently to profit or loss: | ||||
Exchange differences on translation of foreign operations | [1] | (10) | (12) | 38 |
Items that will not be reclassified subsequently to profit or loss: | ||||
Exchange differences on translation of non-foreign operations | [1] | 2 | (50) | (16) |
Net (loss) gain on equity investments | (40) | 53 | 98 | |
Deferred taxation thereon | (7) | |||
Other comprehensive income that will not be reclassified to profit or loss | (42) | (4) | 86 | |
Other comprehensive income (loss) for the period, net of tax | (52) | (16) | 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 | $ 321 | 412 | $ 1,095 | |
As previously reported | ||||
Disclosure of reclassifications or changes in presentation [line items] | ||||
Profit (loss) for the period | 428 | |||
Items that will be reclassified subsequently to profit or loss: | ||||
Exchange differences on translation of foreign operations | (62) | |||
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 | 53 | |||
Deferred taxation thereon | (7) | |||
Other comprehensive income that will not be reclassified to profit or loss | 46 | |||
Other comprehensive income (loss) for the period, net of tax | (16) | |||
As previously reported | 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 | 412 | |||
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 | 50 | |||
Items that will not be reclassified subsequently to profit or loss: | ||||
Exchange differences on translation of non-foreign operations | (50) | |||
Net (loss) gain on equity investments | 0 | |||
Deferred taxation thereon | 0 | |||
Other comprehensive income that will not be reclassified to profit or loss | (50) | |||
Other comprehensive income (loss) for the period, net of tax | 0 | |||
Adjustments | 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 | $ 0 | |||
[1] | Exchange differences arising on translation of foreign and non-foreign operations for the six months ended 30 June 2020 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) - Argentina | 6 Months Ended |
Jun. 30, 2021 | |
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% |
Uncategorized Items - au-202106
Label | Element | Value |
Cash advances and loans made to other parties, classified as investing activities | ifrs-full_CashAdvancesAndLoansMadeToOtherPartiesClassifiedAsInvestingActivities | $ 0 |