Edgar Filing: ANGLOGOLD ASHANTI LTD

Page 1

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 OF

THE SECURITIES EXCHANGE ACT OF 1934

Report on Form 6-K dated February 13, 2007

Commission File Number 1-14846

AngloGold Ashanti Limited

(Translation of registrant’s name into English)

11 Diagonal Street

Johannesburg, 2001

(P.O. Box 62117, Marshalltown, 2107)

South Africa

(Address of principal executive offices)

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

Form 20-F X Form 40-F

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T
Rule 101(b)(1):

Yes No X

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T
Rule 101(b)(7):

Yes No X

Indicate by check mark whether the registrant by furnishing the information contained in this Form is
also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the
Securities Exchange Act of 1934.

Yes No X

Enclosure: Press release –

AngloGold Ashanti Report for the quarter and year ended 31 December

2006 prepared in accordance with IFRS.

QUARTER 4

Report

for the quarter and year ended 31 December 2006

Group results for the quarter ….

· Gold production 4% higher to 1.469Moz
· Total cash costs slightly lower at $309/oz, primarily as a result of higher grades
· Price received 6% below spot price at $578/oz
· Adjusted headline earnings of $46m after taking into account year-end adjustments amounting to $100m

.... and for the year

· Gold production 9% lower to 5.6Moz
· Total cash costs up 10% to $308/oz, primarily as a result of lower grades and inflation
· Adjusted headline earnings doubled year-on-year to $413m, the company’s highest level of annual earnings ever recorded
· Company delivers strong earnings leverage to gold price, with earnings up 105% as against a gold price increase of 36%
· Ore Reserves increased 6% to 66.9Moz, with Mineral Resources up 3% to 181.6Moz, both net of depletion
· Final dividend declared at 240 South African cents per share or 33 US cents per share, resulting in a total dividend of 450 South

African cents or 62 US cents per share, a near doubling of total dividends as compared to 2005

Quarter

Year

Quarter

Year

ended

Dec

2006

ended

Sept

2006

ended

Dec

2006

ended

Dec

2005

ended

Dec

2006

ended

Sept

2006

ended

Dec

2006

ended

Dec

2005

SA rand / Metric

US dollar / Imperial

Operating review

Gold

Produced

- kg / oz (000)

45,697

43,864 175,253 191,783

1,469

1,410

5,635

6,166

Price received

- R/kg / $/oz

135,628

134,176 126,038 89,819

578

584

577

439

Total cash costs

- R/kg / $/oz

72,422

71,495 67,133 57,465

309

311

308

281

Total production costs

- R/kg / $/oz

98,145

95,267 90,345 76,495

419

414

374

Financial review

Gross profit

- R / $ million

1,639

1,981 2,700 1,099

133

349

443

185

Gross profit adjusted for the effect
of unrealised non-hedge
derivatives

- R / $ million

1,959

2,020 7,207 2,999

269

283

1,058

470

Profit (loss) attributable to equity
shareholders

- R / $ million

1,470 (587)

(1,255)

(72)

268

(44)

(182)

Headline (loss) earnings ³

- R / $ million

(150)

1,471 (838)

(716)

(103)

268

(80)

(97)

Headline earnings before unrealised
non-hedge derivatives, fair value
adjustments on convertible bond
and interest rate swaps

- R / $ million

343

1,011 2,790

1,272

141

413

201

Capital expenditure

- R / $ million

1,861

1,542 5,533

4,600

260

220

817

722

Earnings (loss) per ordinary share - cents/share
Basic

533 (215)

(474)

(26)

(16)

(69)

Diluted

533 (215)

(474)

(26)

(16)

(69)

Headline³

(54)

534 (307)

(271)

(37)

(29)

(37)

Headline earnings before unrealised
non-hedge derivatives, fair value
adjustments on convertible bond
and interest rate swaps

- cents/share

124

367 1,022 481

151

Dividends -

cents/share

240

450 232

Notes:

Refer to note D of “Non-GAAP disclosure” for the definition.

Refer to note B of “Non-GAAP disclosure” for the definition.

Refer to note 8 of “Notes” for the definition.

Refer to note A of “Non-GAAP disclosure” for the definition.

$ represents US dollar, unless otherwise stated.
Rounding of figures may result in computational discrepancies.

Operations at a glance

for the quarter ended 31 December 2006

Price received

Production

Total cash costs

Cash gross

profit

Gross profit

(loss) adjusted

for the effect of

unrealised non-

hedge

derivatives

$/oz

Variance

oz (000)

Variance

$/oz

Variance

Sunrise Dam

625

(21)

153

293

(15)

Great Noligwa

559

(7)

149

(1)

232

(14)

–

(10)

Mponeng

556

(7)

148

(5)

247

(17)

(32)

AngloGold Ashanti Mineração

746

192

(7)

Kopanang

558

(7)

118

262

(8)

(7)

TauTona

559

(7)

116

(10)

277

(29)

(35)

Cripple Creek & Victor

626

259

182

667

Morila

616

(1)

(4)

317

(6)

(7)

Yatela

615

(1)

–

222

(5)

Sadiola

612

(2)

277

–

(6)

(14)

Serra Grande

670

–

207

Geita

608

(2)

586

120

–

100

Tau Lekoa

561

(6)

373

(11)

(3)

(200)

Cerro Vanguardia

450

(8)

(22)

340

(53)

(1)

(110)

Siguiri

539

383

(12)

100

(3)

–

Savuka

568

(5)

(19)

339

(25)

(29)

Navachab

619

(1)

(13)

303

(25)

(33)

Bibiani

606

(3)

(38)

508

(28)

600

300

Iduapriem

495

(2)

(11)

366

(29)

(33)

Moab Khotsong

558

(6)

498

(26)

–

100

(6)

(20)

Obuasi

501

437

(8)

(300)

(22)

(83)

Other

(11)

(14)

AngloGold Ashanti

578

(1)

1,469

309

–

434

269

(5)

Refer to note D of “Non-GAAP disclosure” for the definition.

Refer to note F of “Non-GAAP disclosure” for the definition.

Refer to note B of “Non-GAAP disclosure” for the definition.

Variance December 2006 quarter on September 2006 quarter – increase (decrease).

5 Attributable.

Rounding of figures may result in computational discrepancies.

Financial and operating review

OVERVIEW FOR THE QUARTER AND YEAR

FOURTH QUARTER

The December quarter was marked by an improved
operational performance, with production 4% higher to
1.469Moz and total cash costs slightly lower at $309/oz,
both in line with company forecasts. The price received
for the quarter was also well within the estimated range, at
$578/oz, or 6% below the average spot price, as the
company continued its strategy of delivering into the
hedge book as fully as possible.

Adjusted headline earnings for the quarter, at $46m, were
reduced by year-end accounting adjustments that
amounted to $100m. Of this, non-cash charges of $42m
related to the vesting of certain share-based awards, as
well as the company’s employee share ownership plan
and black economic empowerment scheme. The
remaining $56m was related to redundancy costs at
Obuasi in Ghana and changes to both current, deferred
and indirect tax provisions, as well as rehabilitation and
amortisation charges.

During the fourth quarter, the company experienced
12 fatal accidents, of which the seismic event at TauTona
claimed the lives of five employees in late October. The
group’s fatal injury frequency rate (FIFR) for the quarter
regressed 29%, from 0.21 to 0.27 per million man hours
worked. The lost-time injury frequency rate (LTIFR)
improved by 14%. For the year, the FIFR, at 0.22,
represented a 57% increase, and a significant
deterioration in what had been an improving safety trend.
The LTIFR also regressed for the year by 14%,
notwithstanding solid safety performances from several
operations, including Cripple Creek & Victor, which has
operated without a lost-time injury since November 2003.
The AngloGold Ashanti management team is determined
to improve the company’s safety performance, with the
objective of achieving injury and fatality-free workplaces.

While there were improvements at Tau Lekoa and Moab
Khotsong and a particularly strong performance from
Kopanang due to a 12% yield increase, production from
the South African assets was marginally lower this
quarter. In particular, lower tonnes treated at Great
Noligwa and lower yields at Savuka resulted in production
declines, while at TauTona, production was reduced by
seismicity concerns that halted mining on several panels.
Total cash costs for the South African assets were well-
contained quarter-on-quarter at R62,888/kg.

Of the other African assets, Sadiola in Mali and Geita in
Tanzania reported production increases of 9% and 10%,
respectively, after recovered grade improved 21% at
Sadiola and 17% at Geita over the quarter. Siguiri in
Guinea also posted strong results, with production 24%
better to 77,000oz as a result of higher tonnage
throughput and total cash costs 12% lower. The
Ghanaian operations had a mixed quarter, with production
4% higher at Obuasi and 11% lower at Iduapriem, in both

cases the result of grade changes. The sale of
Bibiani, also in Ghana, to Central African Gold plc,
was completed in December for a consideration of
$40m which resulted in a profit on disposal of assets
of $25m.

The international assets reported generally strong
results, particularly at Sunrise Dam in Australia,
where production was 42% higher and total cash
costs 17% lower as mining progressed in the open-pit
to higher grade areas as planned. Cripple Creek &
Victor in Colorado also saw a significant production
increase to 86,000oz, while in South America,
production was generally steady at the Brazilian
operations but 22% lower at Cerro Vanguardia in
Argentina due to lower grades.

YEAR

For the year ended 31 December 2006, gold
production was 9% lower at 5.635Moz. This year-on-
year decline was largely attributable to a significantly
reduced contribution from Geita due to the delayed
cut-back of the operation’s main pit. Production
decreases at Bibiani as it phased into closure mode,
as well as at Great Noligwa due to lower yields also
contributed to the group’s overall production decline,
as did the restructurings of Savuka and Tau Lekoa to
achieve higher profitability at lower production rates.

Although total cash costs for the year increased 10%
to $308/oz, the company’s stringent approach to cost
management, particularly in the face of rising
commodity input prices, yielded $73m in cost-savings
during 2006. The majority of this, or $50m, was
again derived from the South African operations, from
which $144m in savings was also obtained in 2005.
Adjusted headline earnings doubled year-on-year to
$413m, representing strong leverage to the gold price
despite these cost pressures.

In 2006, AngloGold Ashanti recorded an increase in
total ore reserves before depletion of 10.1Moz. After
depletion, this represents a 6% increase year-on-
year, from 63.3Moz in 2005 to 66.9Moz in 2006.
Significant additions included 2.9Moz at Mponeng
due to the inclusion of the VCR Below 120 Level
project, and 1.1Moz at Cripple Creek & Victor as a
result of a planned extension of that operation’s life.

The company’s total Mineral Resource before
depletion increased by 14.1Moz for the year. After
depletion, this represents an increase of 5.8Moz,
from 175.8Moz in 2005 to 181.6Moz in 2006.

Significant additions included 5.2Moz at Obuasi as a
result of exploration and changes in the estimation
methodology of the below-50 level area and 2.1Moz
each at Boddington, Geita and Navachab, primarily
due to successful brownfields exploration.

A dividend of 240 South African cents (33 US cents)/
share has been declared for the six months ended
31 December 2006.

The company is pleased to welcome Mr Sipho Pityana
to its Board of Directors, effective 13 February 2007.
Sir Sam Jonah simultaneously announced his
resignation from the Board, effective immediately.
AngloGold Ashanti wishes to thank Sir Sam his years of
dedicated service to the company.

Looking ahead, and taking into account the impact of
the recent slope failure at Geita together with a revised
mining strategy at TauTona due to seismicity,
production for the first quarter is estimated to be
1.34Moz at an average total cash cost of $327/oz

assuming the following exchange rates: R7.50/$,
A$/$0.76, BRL2.20/$ and Argentinean peso 3.15/$.
Capital expenditure is estimated at $272m and will be
managed in line with profitability and cash flow.

The table below provides guidance for the year in
respect of forecast ounces, total cash costs and capital
expenditure. In 2007, AngloGold Ashanti expects
production to increase to approximately 5.8Moz.

Total cash costs are anticipated to be $309/oz, based
on the following exchange rate assumptions: R7.50/$,
A$/$0.76, BRL2.20/$ and Argentinean peso 3.15/$.
Capital expenditure for the year is estimated to be
$1,070m.

Operational forecast for 2007

Operation

Forecast Production

Ounces (000)

Expected

Cash Cost

US$/oz*

Forecast Capital

Expenditure

US$m**

SOUTH AFRICA

2,500

286

363

Vaal River

Great Noligwa

580

295

Kopanang 470

260

Tau Lekoa

160

426

Surface Operations

120

300

Moab Khotsong

470

West Wits

Mponeng 550

249

Savuka 70

372

TauTona 470

252

ARGENTINA 200

263

Cerro Vanguardia

200

260

AUSTRALIA 580

275

346

Sunrise Dam

580

266

Boddington -

312

BRAZIL 410

202

AngloGold Ashanti Brasil Mineração

320

178

Serra Grande

244

GHANA 570

369

133

Iduapriem 170

403

Obuasi 400

355

GUINEA 270

399

Siguiri 270

399

MALI 480

327

Morila – Attributable 40%

200

297

Sadiola – Attributable 38%

170

364

Yatela – Attributable 40%

110

326

NAMIBIA 80

359

Navachab 80

359

TANZANIA 400

479

Geita 400

479

NORTH AMERICA

310

276

Cripple Creek & Victor

310

267

Other

- -

AngloGold Ashanti

5,800

309

1,070

Assumes the following exchange assumptions to the US dollar: R7.50/$, A$/$0.76, BRL2.20/$ and Argentinean peso 3.15/$.

Capital expenditure is managed in line with earnings and cash flow, and may fluctuate accordingly.

OPERATING RESULTS FOR THE QUARTER

SOUTH AFRICA

At Great Noligwa, lower off-reef mining resulted in a
3% grade increase. Despite this, gold production
declined marginally to 4,640kg (149,000oz). Total cash
costs improved by 12% to R54,393/kg ($232/oz),
mainly as a result of an improved by-product
contribution. Gross profit adjusted for the effect of
unrealised non-hedge derivatives decreased 9% to
R256m ($35m) due to declines in both volume and the
price received.

The Lost-Time Injury Frequency Rate (LTIFR) was
11.49 lost-time injuries per million hours worked (14.74
for the previous quarter). Regrettably, two people were
fatally injured in separate fall of ground incidents during
the quarter.

At Kopanang, yield improved 12% following increased
mining of the operation’s higher-grade sections and
production consequently improved 6% to 3,657kg
(118,000oz). Total cash costs, which were positively
affected by the higher production and lower power
charges, decreased 5% to R61,570/kg ($262/oz).
Gross profit adjusted for the effect of unrealised non-
hedge derivatives, at R201m ($27m), was marginally
lower than that of the previous quarter.

The LTIFR was 13.75 (14.36). Regrettably, one person
died in a fall of ground incident.

Production at Moab Khotsong rose 25% quarter-on-
quarter to 411kg (13,000oz) and total cash costs
consequently improved 24% to R116,485/kg ($498/oz).
Gross loss adjusted for the effect of unrealised non-
hedge derivatives increased 19% to R43m ($6m)
following lower cost efficiencies as the operation builds
up to full production, combined with a reduced price
received.

The LTIFR was 9.53 (18.64). Regrettably, one person
was fatally injured by a fall of ground incident.

At Tau Lekoa, gold production increased by 2% to
1,387kg (45,000oz) following adjustments made to the
stoping width, which resulted in a 21% yield
improvement. Total cash costs also benefited from the
lower stoping width, as well as from seasonally lower
power charges, declining 8% to R87,829/kg ($373/oz).
Gross loss adjusted for the effect of unrealised non-
hedge derivatives was R25m ($3m) versus a profit of
R19m ($3m) in the previous quarter due to declines in
both volume and the price received.

The LTIFR was 24.22 (30.67).

At Mponeng, a combination of increased off-reef
mining and backfill availability problems resulted in a
production decrease of 5% to 4,595kg (148,000oz),
notwithstanding a significant production and cost
outperformance for the year. Total cash costs, at

R57,887/kg ($247/oz), were 16% higher primarily due
to the lower production and the payment of back-dated
labour performance bonuses during the quarter. As a
consequence, gross profit adjusted for the effect of
unrealised non-hedge derivatives declined 30% to
R224m ($30m).

The LTIFR was 12.17 (13.40).

Production at Savuka was 19% lower to 654kg
(21,000oz), after decreases in both face advance and
reef-area mining resulted in a 13% yield decline.

Total cash costs accordingly increased 17% to
R79,339/kg ($339/oz) and gross profit adjusted for the
effect of unrealised non-hedge derivatives decreased
22% to R38m ($5m).

The LTIFR was 13.97 (20.51).

At TauTona, production declined 10% to 3,604kg
(116,000oz) after concerns about seismicity halted
mining on several panels and resulted in lower volume
mined for the quarter. As a result, total cash costs
increased 17% to R65,013/kg ($277/oz) and gross
profit adjusted for the effect of unrealised non-hedge
derivatives declined 34% to R147m ($20m).

The LTIFR was 17.27 (16.40). Regrettably, five people
were killed in a seismically-induced fall of ground
incident in October.

ARGENTINA

At Cerro Vanguardia (92.5% attributable), gold
production decreased 22% to 43,000oz, primarily due
to lower feed grade as planned. Total cash costs rose
60% to $340/oz as a result of reductions in both gold
production and the silver by-product credit. Gross loss
adjusted for the effect of unrealised non-hedge
derivatives was $1m, versus a profit of $10m in the
previous quarter. This significant decline was the result
of the lower production and higher total cash costs,
combined with a lower price received.

The LTIFR was 1.97 (8.51).

AUSTRALIA

At Sunrise Dam, mining progressed in the open-pit to
the higher grade areas as planned, with recovered
grade 35% better to 4.2g/t and tonnes treated 18%
higher. Production consequently increased to a record
153,000oz, a 42% improvement quarter-on-quarter.
Total cash costs accordingly decreased by 17% to
A$380/oz ($293/oz), which also resulted in a 20%
increase in gross profit adjusted for the effect of
unrealised non-hedge derivatives to A$55m ($43m),
despite a decrease of 23% in the price received.

The underground project, where mining continues to
access the high-grade Western Shear zone ore,
continued to supplement Sunrise Dam production.

Development is also accessing further ore in the Dolly,
Mako and Watu lodes. During the quarter, 235m of
underground capital development and 2,062m of
operational development were completed.

The LTIFR was 0 (4.71).

BRAZIL

t AngloGold Ashanti Brasil Mineração, production

increased 3% to 69,000oz, reflecting better results from
heap leaching activities, in addition to higher production
from the Cuiabá mine as the expansion project was
completed. Total cash costs improved 7% to $192/oz
due to better grades at Cuiabá and a higher sulphuric
acid by-product credit. Gross profit adjusted for the
effect of unrealised non-hedge derivatives increased
39% to $32m, primarily as a consequence of
improvements in production and in the price received.

The LTIFR was 2.15 (2.70).

At Serra Grande (50% attributable), gold production
remained steady at 24,000oz. Total cash costs rose
7% to $207/oz, however, due to higher expenditures on
equipment maintenance and replacement mill liners.
Gross profit adjusted for the effect of unrealised non-
hedge derivatives increased 14% to $8m as an
improved price received offset the effect of higher total
cash costs.

The LTIFR was 2.32 (0.00).

GHANA

On 1 December, the sale of Bibiani to Central African
Gold plc was completed for a consideration of $40m.
As a consequence, reported production was derived
from only two of the quarter’s three months and was
composed entirely of the reclamation of the lower
phases of the slimes dams, which resulted in a
decrease of 38% to 5,000oz. In spite of the lower
production, total cash costsimproved 28% to $508/oz
as a result of savings obtained from the general
downscale of the operation combined with the fact that
a third quarter contractor settlement was not repeated
in the fourth quarter. These factors also contributed to a
significant improvement in gross profit adjusted for the
effect of unrealised non-hedge derivatives to $4m,
versus a loss of $2m in the previous quarter.

The LTIFR was 0.00 (4.45).

At Iduapriem (85% attributable), production declined
11% to 39,000oz as a result of the combined effect of
mill stoppages and lower grades. Total cash costs
consequently rose 8% to $366/oz and gross profit
adjusted for the effect of unrealised non-hedge
derivatives declined 33% to $2m.

The LTIFR was 1.12 (0.00).

At Obuasi, improved grade resulted in a 4% production
increase to 98,000oz. Total cash costs, however,
increased by 13% to $437/oz due to higher royalty
costs associated with the rising gold price, as well as
inflation-related increases of the fuel price and
contractor rates. The ongoing power rationing exercise
currently underway in Ghana also impacted negatively
on costs. Gross loss adjusted for the effect of
unrealised non-hedge derivatives increased to $22m,
compared with $12m in the previous quarter, mainly
due to once-off retrenchment costs of $15m following a
right-sizing exercise carried out at the operation in
December.

The LTIFR was 2.63 (2.05). The mine achieved
2 million fatality free shifts in the last month of the
quarter.

REPUBLIC OF GUINEA

At Siguiri (85% attributable), production increased 24%
to 77,000oz, mainly due to higher tonnage throughput.
Total cash costs consequently fell 12% to $383/oz and
gross loss adjusted for the effect of unrealised non-
hedge derivatives, at $3m was the same as the third
quarter.

The LTIFR was 1.23 (0.00). Regrettably, two of the
mining contractor’s employees died in an accident
between a haul truck and a light vehicle in December.

MALI

At Morila (40% attributable), production decreased 4%
to 48,000oz due to a 10% decline in recovered grade
that was partially offset by increased tonnage
throughput. Total cash costs increased 14% to $317/oz
as a result of the lower production. Gross profit
adjusted for the effect of unrealised non-hedge
derivatives, at $13m, was 7% lower due to declines in
both production and the price received.

The LTIFR was 1.18 (2.22).

At Sadiola (38% attributable), production increased 8%
to 50,000oz due to a 21% increase in recovered grade,
a function of the treatment of both sulphide and oxide
ore during the quarter as opposed to the exclusive
treatment of the lower-grade oxide ore during the
previous quarter. An 11% decrease in tonnage
throughput partially offset the effect of the grade
increase. Total cash costs were marginally lower at
$277/oz, with the higher operating costs associated
with the treatment of sulphide ore somewhat mitigating
the impact of higher grades. Gross profit adjusted for
the effect of unrealised non-hedge derivatives declined
14% to $12m due to a lower price received.

The LTIFR was 0.98 (0.00).

At Yatela (40% attributable), production remained
constant at 34,000oz. Tonnage stacked was 36%
higher than during the previous quarter but was not
matched by increased gold production due to the delay
in the release of high-grade ounces stacked in
December. Total cash costs were 5% lower, at $222/oz,
due to economy of scale benefits associated with the
increase in tonnage stacked. Gross profit adjusted for
the effect of unrealised non-hedge derivatives
increased 75% to $14m due to a credit adjustment on
restoration and decommissioning charges during the
quarter.

The LTIFR was 1.66 (0.00). Regrettably, a conveyor
belt accident led to a fatality at Yatela in the last month
of the quarter.

NAMIBIA

Gold production at Navachab, at 20,000oz, was 13%
lower than that of the previous quarter due to declines
in both recovered grade and tonnage throughput, which
was adversely affected during the quarter by a major
mill relining. Total cash costs increased 18% to $303/oz
due to the lower production. Gross profit adjusted for
the effect of unrealised non-hedge derivatives
decreased 33% to $4m as a result of declines in both
production and price received.

The LTIFR was 0.00 (8.46).

TANZANIA

Production at Geita improved 10% to 80,000oz,
primarily as a consequence of a 17% increase in
recovered grade. Total cash costs, however, were 9%
higher to $586/oz due to increased expenditure on
equipment maintenance and an unfavourable
adjustment for excess waste stripping. Gross profit
adjusted for the effect of unrealised non-hedge
derivatives rose from a loss of $7m in the previous
quarter to a break-even point in the fourth quarter as a
result of the improved production.

The LTIFR was 0.34 (0.68).

USA

At Cripple Creek & Victor (67% ownership with 100%
interest in production until initial loans are repaid),
production increased 25% to 86,000oz as solution flows
on the leach pad returned to normal levels. Because
leach pad accounting assigns the historic average cost
per recoverable ounce placed on the pad to each ounce
produced, the significantly higher fuel prices and
inflation-related wage increases that have affected
CC&V over the course of the last two years resulted in
a 7% increase in total cash costs to $259/oz for the
fourth quarter of 2006. Gross profit adjusted for the
effect of unrealised non-hedge derivatives, at $23m,
was $20m higher than that of the previous quarter due
to the improved production and a better price received.

The LTIFR was 0.00 (0.00). In December, CC&V
achieved 37 months without a lost-time accident.

Notes:

· All references to price received includes realised non-hedge derivatives.

· In the case of joint venture and operations with minority holdings, all production and financial results are attributable to AngloGold Ashanti.

· Adjusted headline earnings is headline earnings before unrealised non-hedge derivatives, fair value adjustments on convertible bond and
interest rate swaps and deferred tax thereon.

· Rounding of figures may result in computational discrepancies.

Exploration

Total exploration expenditure amounted to $32m

($16m expensed, $16m capitalised) during the

fourth quarter of 2006, compared to $26m ($16m

expensed, $10m capitalised) in the previous quarter.

BROWNFIELDS EXPLORATION

In Australia, at Sunrise Dam, exploration focused
on completing infill drilling for the underground
project targets at Cosmo, Hammerhead and West of
Western Shea and drilling of the Tiger target
commenced in December. Significant results were
received in all targeted lodes. At the Boddington
mine, six diamond drilling rigs were employed to
advance Resource conversion and near-mine pit
extension exploration.

At Siguiri, in Guinea, infill and extension drilling
continued at the Kintinian and Sintroko prospects,
as did a drill programme to upgrade the spent heap
leach pad from an Inferred to Indicated Resource.
The potential re-treatment of the pad through the
new CIP plant is under investigation. Diamond
drilling to establish the structural controls of the
mineralisation at Foulata, located 35km west of the
current Siguiri operation, also recommenced.

At Geita, in Tanzania, three diamond drill holes
were completed at the Star & Comment gap area,
with results pending. Limited drilling at the Area 3
West – Central prospect and reconnaissance drilling
at the Mabe and Star & Comet North prospects both
returned encouraging results.

At Morila in Mali, the grant-wide exploration
programme encountered some broad, low-grade
zones but most holes have shown insignificant
intersections. At Sadiola, infill drilling commenced
on upgrading Inferred Resources to Indicated for the
Deep Sulphide Project.

At Navachab, in Namibia, drilling of the Gecko
Central and Anomaly 16 prospects has been
completed and geostatistical modelling is underway.
Scout drilling of the Pub Grid anomalies has
commenced, with some encouraging results. Thirty-
three Reverse Circulation (RC) holes totalling
4,130m have been completed around the area of
the main pit as part of the western pushback
evaluation.

In Argentina, at Cerro Vanguardia, resource
reconnaissance drilling has been largely completed.

At Córrego do SÍtio, in Brazil, infill drilling
conversion of open-pit Resources to Reserves
continued and new orebodies are being probed.

At Cripple Creek & Victor in the United States,
drill results within the Life of Mine Extension
Project area have been encouraging and
additional modelling has been completed.

Development drilling continues in the South
Cresson Deposit to define final pit depths and
high wall designs.

GREENFIELDS EXPLORATION

Greenfields exploration activities continued

during the fourth quarter in Australia, Colombia,

DRC, China, Laos, Philippines, and Russia.

In Australia, encouraging drill results were
again obtained at the Tropicana joint venture
project from both the Tropicana and Havana
zones. At Tropicana, RC and diamond drilling
was focused on 50m by 100m spaced infill
holes designed to test mineralisation down-dip
on selected sections and to better define the
orientation of high-grade shoots. Better results
received from Tropicana during the quarter
include: 12.0m @ 7.0g/t (includes 9.0m @
9.14g/t), 19.0m @ 3.78g/t (includes 11.0m @
6.14g/t), 26.0m @ 3.04g/t (includes 13.0m @
3.87g/t), 19.0m @ 2.86g/t (includes 17.0m @
3.11g/t), 15.0m @ 3.09g/t (includes 4.0m @
8.78g/t).

At Havana, RC and diamond drilling returned
results including 33.0m @ 2.57g/t (includes
22.0m @ 3.59g/t), 10.0m @ 4.18g/t (includes
8.0m @ 5.13g/t), 10m @ 5.3g/t, 11m @ 3.4g/t,
21.0m @ 4.03g/t (includes 14.0m @ 5.75g/t),
30.0m @ 4.45g/t (includes 17.0m @ 6.95g/t),
63.0m @ 2.98g/t (includes 40.0m @ 3.79g/t),
and 18.0m @ 3.93g/t (includes 14.0m @
4.84g/t).

Regional exploration programmes continued at
an accelerated pace in Colombia during the
fourth quarter. Follow-up drilling was undertaken
on AngloGold Ashanti’s bulk-tonnage targets at
Gramalote and Quinchia, located in the
Antioquia and Middle Cauca regions,
respectively, together with the initial drill testing
of the joint venture prospects El Carmen (with
local partner Mineros) and San Martin (with
Bema Gold). Results for this latest drilling are
pending.

Drill target definition on AngloGold Ashanti’s new La
Colosa gold-copper porphyry prospect also
advanced, with drill testing expected to commence
during the first quarter of 2007.

During the fourth quarter, drilling in the Mongbwalu
region of the DRC, focused on evaluating the
resource potential of the Pluto sector, located to the
north-east of the historical Adidi-Kanga mines.

Additional open-pit resource potential has also been
identified to the north in the Issuru sector, and
drilling of this target is expected to commence
during the first quarter. Follow-up drilling was also
completed in the “DD051” sector (located south-east
of Adidi-Kanga, and with a previously reported
intercept of 13.74m @ 6.40g/t from 57m) and
around the known mineralisation in the Nzebi mine.
Results are pending. The best results obtained from
the Mongbwalu area included: 6.05m @ 20.29g/t
(DDH084: 127.3 – 133.25m, Nzebi area), 3.39m @
7.87g/t (DDH116: 102.94 – 106.33m, Adidi area),
5.53m @ 8.14g/t (DDH134: 260.7 – 266.23m; Pluto
area).

In the first quarter of 2007, an additional two RC rigs
will arrive on-site to assist with infill drilling and an
airborne geophysical survey will be flown over the
Mongbwalu District to cover the central Mongbwalu
area, together with the Galaya-Lodjo prospects
(located 20km to the north of Mongbwalu) and the
Kilo-Camp III gold camp to the south-east.

In Russia, drafting of the Polymetal Strategic
Alliance agreements continued. On the completion
of the Sale and Purchase Agreement with Trans-
Siberian Gold, which is close to finalisation, the
Veduga and Bogunay projects will be incorporated
into the Polymetal Strategic Alliance. A targeting
and budget preparation meeting was held in
Krasnoyarsk for the Veduga project, which resulted
in the definition of 19 targets for evaluation in 2007.

In China, a second cooperative joint venture
(CJV) was signed with local partners at the
Jinchanggou Project in Gansu Province. The
process of registering the CJV and applying for
the business licence has now commenced.
This follows AngloGold Ashanti’s first CJV at
Yili-Yunlong in Xinjiang Province.

In the Philippines, work continued on finalising
the Mapawa joint venture agreement with Red
5. Final tenement grant for Mapawa is now
awaited from the Manila Central Mines and
Geosciences Bureau, the granting of which will
allow more detailed exploration of the area to
commence.

In Laos, regional reconnaissance stream
sediment / rock chip sampling and mapping
programmes were conducted in two areas of
north-western Laos under the joint venture with
Oxiana Limited. A technical review of the
Truongson fold belt, which hosts the Sepon and
Phu Bia copper-gold mines, identified a number
of areas analogous to these deposits. Field
visits to the highest priority target areas are in
progress to determine the existence of
favourable geology, structures and
mineralisation.

Review of the gold market

Over the fourth quarter of 2006, spot gold traded
in a range of $88, from a low of nearly $561/oz to
a high of $649/oz. The fourth quarter range,
similar to that of the previous quarter, highlighted
the increasing stability of the gold market, which
was also evidenced in that the spot price
remained above $600/oz throughout the last two
months of the quarter.

The average spot price for the quarter of $614/oz
represents a decline of approximately $7/oz or
1.3% from that of the third quarter, resulting in a
an average spot price for the year of $604/oz.
While this marks a retreat from the 26-year high of
$725/oz that was reached in May 2006, it also
represents a 36% increase on the average annual
gold price in 2005, and the greatest annual gain
since 1980.

The average rand gold price for the fourth quarter
was R143,725/kg, generally in line with that of the
previous quarter. The average annual rand gold
price was R131,320/kg, a 44% increase over that
of 2005.

PHYSICAL MARKET

While the gold price volatility that characterised
the first half of 2006 contributed heavily to the
16% decline in global jewellery offtake for the
year, lower prices and, in particular, renewed
price stability in the third and fourth quarters saw
some pent-up demand surges from key markets
such as India, which posted record gold imports
even as the price steadied above $600/oz.

This was less evident in the Middle East, where
the combination of high and volatile gold prices
early in the year resulted in a 22% decline in
fabrication, despite a late-year recovery. Chinese
jewellery fabrication, however, increased
approximately 5% for the year, supported
primarily by higher local consumption, while the
North American retail market shifted to lighter
carat and mixed material jewellery in the face of
volatile gold prices. This shift negatively affected
local gold fabrication and resulted in a 19%
decline in jewellery imports, impacting the key
jewellery-producing markets of Italy and Turkey,
where fabrication fell 40% in the first ten months
of the year.

INVESTMENT MARKET

The confirmation in November that sales in the
second year of the second Central Bank Gold
Agreement (CBGA) were 104t lower than the
permissible ceiling of 500t provided a bullish
signal for both the gold market and investors in
the fourth quarter. Most market analysts continue
to speculate that the CBGA signatories are indeed
unlikely to fulfil their full quota for the remaining
three years of the second agreement.

On 31

January, the IMF announced that its

independent advisory group had recommended
the sale of 400t of its total 3,217t gold holding in
order to meet an expected shortfall in annual
revenue. While this remains a recommendation
and an official IMF decision is yet to be taken, it
should be noted that the terms of the
recommendation state that the potential sale
would not add to the announced volume of sales
from official sources and should be handled in
such as way so as to avoid causing disturbances
to the broader gold market.

Exchange traded gold holdings grew by over 14%,
or 77.5t, in the fourth quarter, resulting in a
worldwide investment in gold ETFs valued at
$12.8bn by the close of 2006. Also notable was
new investor interest in physical gold towards the
end of the year, with both gold bullion coins and
small bars seeing steady demand, possibly
related to the emergence over the course of the
year of increased “safe haven” buying driven by a
sense of rising geopolitical and economic
insecurity.

Trading in the gold futures market was restrained
over the quarter and, on average, the net long
positions reported by the Commodities Future
Trading Commission, fell 15% quarter-on-quarter.

PRODUCER HEDGING

Preliminary figures for 2006 indicate that gold
producers reduced hedges by more than 400t of
gold during the year, through delivering into
contracts and unwinding gold hedge contracts.

This is the highest annual figure recorded and is
approximately five times the reduction seen in
2005.

CURRENCIES

Recovering somewhat from the economic and
political uncertainty that featured strongly in the
third quarter, the rand gained ground against the
US dollar during the fourth quarter, opening at
R7.75/$ and closing at R6.97/$. However,
quarter-on-quarter, the average rand dollar
exchange rate weakened by 2% to R7.31. For the
full year, the average rand dollar exchange rate
was R6.77/$, some 6.3% weaker that the previous
year’s average of R6.37/$.

Against the euro, the US dollar weakened slightly
during the quarter, averaging $/€1.29 versus the
third quarter average of $/€1.27. Looking forward,
the market consensus for 2007 is for a weaker
US dollar due to an expected slowing of the US
economy and the continuation of the “twin deficit”
problem, thus giving further support to the gold
price.

HEDGING

As at 31 December, the net delta hedge position
of AngloGold Ashanti was 10.16Moz or 316t,
valued at the spot gold price at the quarter-end of
$636.30/oz, $35.20/oz higher than that of the
previous quarter. This net delta position reflects
an increase of some 0.66Moz or 20t quarter-on-
quarter, due to the higher fourth quarter-end gold
price, offset by decreases related to maturing
hedge contracts, buybacks and other delta-
reducing strategies as part of a broader hedge
reduction strategy.

The marked-to-market value of the hedge position
as at 31 December 2006 was a negative $2.9bn
(at 30 September 2006: negative $2.78bn). The
increase in the marked-to-market position was
primarily due to the higher gold price of
$636.30/oz offset by the lower prevailing
exchange rates, interest rates and volatilities
prevailing at quarter-end, combined with the
impacts of the changed hedge position quarter-
on-quarter.

The price received by the company for the quarter
was $578/oz, $36/oz or some 6% below the
average spot price for the period of $614/oz.

The company continues to actively manage its
hedge position in a value accretive manner and
during the quarter a number of hedge contracts
maturing in the near-term were restructured into
longer dated options contracts. A number of the
short dated long positions from the fourth quarter
2006 were rolled out into 2007 resulting in a net
long dollar gold position of 12,957kg at an
average of $639/oz for 2007. These long positions
will be integrated into the hedge book and used to
reduce hedging commitments in future periods, in
line with past practice.

Looking to 2007, and assuming a gold price range
similar to that seen last year, the received gold
price for the group is likely to be some 8% to 10%
below the spot gold price.

In order to simplify the reporting effect of the gold
hedges on the received price, from 1 January
2007, AngloGold Ashanti will in its group
financials show an average received gold price,
which will be similar across all of its mines.

Hedge position

As at 31 December 2006, the group had outstanding
the following forward-pricing commitments against
future production. The total net delta tonnage of the
hedge of the company on this date was 10.16Moz or
316t (at 30 September 2006: 9.50Moz or 296t).

The marked-to-market value of all hedge
transactions making up the hedge positions was a
negative $2.903bn (negative R20.324bn) as at
31 December 2006 (at 30 September 2006:
negative $2.777bn or R21.56bn). This value at
31 December 2006 was based on a gold price of
$636.30/oz, exchange rates of R7.001/$ and
A$/$0.7886 and the prevailing market interest rates
and volatilities at that date.

As at 12 February 2007, the marked-to-market
value of the hedge book was a negative
$3.147bn (negative R22.73bn), based on a gold
price of $664.50/oz and exchange rates of
R7.225/$ and A$/$0.7736 and the prevailing
market interest rates and volatilities at the time.

These marked-to-market valuations are not
predictive of the future value of the hedge
position, nor of future impact on the revenue of
the company. The valuation represents the cost
of buying all hedge contracts at the time of
valuation, at market prices and rates available
at the time.

Year

2007

2008

2009

2010

2011

2012-2016

Total

DOLLAR

GOLD

Forward

contracts Amount

(kg) 19,622 22,817 21,738 14,462 12,931 24,307 115,877

US$/oz

$301 $314 $316 $347 $397 $418 $347

*Forward contracts
(Long)

Amount

(kg)

12,957

US$/oz $639

$639

Put

options

purchased

Amount

(kg)

1,455

US$/oz $292

$292

Put

options

sold Amount

(kg)

19,259 11,555 3,748 1,882 1,882 5,645 43,971

US$/oz

$612 $587 $530 $410 $420 $440 $559

Call options purchased

Amount (kg)

14,252

6,503

20,755

US$/oz $398

$432

$409

Call

options

sold Amount

(kg) 47,779 46,776 41,148 32,036 36,188 51,295 255,222

US$/oz

$475 $466 $473 $458 $492 $564 $491

RAND GOLD

Forward

contracts

Amount

(kg)

2,138

933

3,071

Rand

per

R91,299

R116,335

R98,769

Call options sold

Amount (kg)

311

2,986

9,269

Rand per kg

R108,123

R202,054

R216,522

R230,990

R212,885

A DOLLAR GOLD

Forward contracts

Amount (kg)

7,465

2,177

3,390

3,110

16,143

A$ per oz

AUD 669

AUD 656

AUD 649

AUD 683

AUD 666

Put

options

purchased

Amount

(kg)

4,977

A$ per

AUD

826

AUD

826

Put

options

sold

Amount

(kg)

5,910

A$ per

AUD

800

AUD

800

Call options purchased

Amount (kg)

3,732

3,110

1,244

3,110

11,196

A$ per oz

AUD 668

AUD 680

AUD 694

AUD 712

AUD 686

Call

options

sold

Amount

(kg)

6,532

A$ per

AUD

847

AUD

847

Delta

(kg) (36,687) (54,993) (62,616) (45,773) (46,952) (68,991) (316,012)

** Total net gold:

Delta

(oz) (1,179,513) (1,768,063) (2,013,148) (1,471,634) (1,509,540) (2,218,109) (10,160,007)

Indicates a long position resulting from forward purchase contracts. The group enters into forward purchase contracts as part of its
strategy to actively manage and reduce the size of the hedge book.

The Delta of the hedge position indicated above is the equivalent gold position that would have the same marked-to-market sensitivity for a
small change in the gold price. This is calculated using the Black-Scholes option formula with the ruling market prices, interest rates and
volatilities as at 31 December 2006.

Rounding of figures may result in computational discrepancies.

Year

2007

2008

2009

2010

2011

2012-2016

Total

DOLLAR SILVER

Put options purchased

Amount (kg)

43,545

87,090

$ per

oz $7.40

$7.66

$7.53

Put options sold

Amount

(kg)

43,545

87,090

$ per

oz $5.93

$6.19

$6.06

Call options sold

Amount

(kg)

43,545

87,090

$ per

oz $8.40

$8.64

$8.52

The following table indicates the group's currency hedge position at 31 December 2006

Year

2007

2008

2009

2010

2011

2012-2016

Total

RAND DOLLAR (000)
Put options purchased

Amount

($)

$15,000

US$/R

R7.61

Put options sold

Amount

($)

$40,000

US$/R

R7.08

Call options sold

Amount

($)

$55,000

US$/R

R7.34

A DOLLAR (000)

Forward contracts

Amount

($)

73,518

20,000

93,518

A$/US$

AUD

0.76

AUD

0.73

AUD

0.75

Put options purchased

Amount

($)

10,000

A$/US$

AUD

0.76

AUD

0.76

Put

options

sold

Amount

($)

10,000

A$/US$

AUD

0.78

AUD

0.78

Call

options

sold

Amount

($)

10,000

A$/US$

AUD

0.75

AUD

0.75

Derivative analysis by accounting designation as at 31 December 2006

Normal sale

exempted

Cash flow

hedge

accounted

Non-hedge

accounted

Total

US Dollars (millions)

Commodity option contracts

(516)

- (1,056) (1,572)

Foreign exchange option contracts

(12)

Forward sale commodity contracts

(1,061)

(375)

108

(1,328)

Forward foreign exchange contracts

Interest rate swaps

(34)

Total hedging contracts

(1,611)

(373)

(919)

(2,903)

Option component of convertible bonds

(72)

Total derivatives

(1,611)

(373)

(991)

(2,975)

Rounding of figures may result in computational discrepancies.

Ore Reserves Statement

Mineral Resources

The 2006 Mineral Resource increased by 14.1Moz to 181.6Moz before depletion. After a depletion of 8.3Moz
the increase is 5.8Moz. Mineral Resources were estimated at a gold price of $650/oz in contrast to the
$475/oz used in 2005. This change in economic assumptions from 2005 to 2006 resulted in the Mineral
Resources increasing by 5.8Moz, while successful exploration and revised modelling resulted in a further
increase of 7.6Moz, and other minor changes accounted for additional 0.7Moz.

Moz

December 2005 Mineral Resources

175.8

Reductions

2006 Total Depletion

-8.3

TauTona, areas on both the Ventersdorp Contact Reef and Carbon Leader Reef Shaft Pillars
were determined not to have economic potential

-1.9

Moab Khotsong, due to new exploration drilling

-1.4

Sadiola, due to a change in methodology when compared to the 2005 Mineral Resource

-0.9

Bibiani Mine, due to sale of asset

-0.9

Other, total of non-significant changes

-0.5

Additions

Obuasi, due to exploration and changes in estimation methodology below 50 level area

5.2

Boddington, due to successful exploration

2.1

Navachab, due to successful exploration, increased gold price and improved mining efficiencies

2.1

Geita, due to revised Mineral Resource Models, successful exploration and increased gold price

2.1

Siguiri, due to successful exploration and increased gold price

1.5

Savuka, due to increased gold price

1.2

Cripple Creek & Victor, due to successful exploration and gold price

1.1

Iduapriem, due to increased gold price

0.7

Cerro Vanguardia, due to successful exploration

0.6

West Wits Surface, due to inclusion of tailing dams as a result of the increased gold price

0.5

Serra Grande, due to the successful exploration in the open-pit and Mina Nova areas

0.2

Yatela, due increased gold price

0.2

Other, total of non-significant changes

2.0

December 2006 Mineral Resources

181.6

Rounding of figures may result in computational discrepancies.

Ore Reserves

The 2006 AngloGold Ashanti Ore Reserves increased by 16% or 10.1Moz before depletion. After depletion,
this increase amounted to 3.6Moz, or 6%. A gold price of $550/oz was used for Ore Reserve estimation in
contrast to the $400/oz used in 2005. This change in the economic assumptions from 2005 to 2006 resulted
in the Ore Reserves increasing 3.7Moz, while exploration and modelling changes resulted in a further
addition of 6.6Moz. A reduction of 0.1Moz was due to the sale of Bibiani.

The primary reasons for the changes are as follows:

Moz

December 2005 Ore Reserves

63.3

Reductions

2006 Total Depletion

-6.5

Moab Khotsong, due to drop in values as a result of exploration drilling

-0.4

Bibiani Mine, due to sale of asset

-0.1

Other, total of non significant changes

-0.4

Additions

Mponeng, due to the inclusion of the VCR below 120 level project and higher gold price

2.9

Cripple Creek & Victor, due to planned extension of life

1.1

Sadiola, due to the inclusion of the Deep Sulphide Project

1.0

Boddington, due to upgrade of Inferred Mineral Resources in the Pit and increased gold and
copper prices

0.7

Sunrise Dam, due to inclusion of North-Wall Cutback and Cosmo Orebodies because of an
increased gold price

0.7

Iduapriem, due to increased gold price

0.5

Tau Lekoa, due to increased gold price

0.5

AngloGold Ashanti Brasil Mineração, due to Córrego do Sítio Sulphide exploration drilling
and Cuiabá Development

0.5

Cerro Vanguardia, due to successful exploration programme and increased gold price

0.4

Siguiri, additional pit included due to increased gold price

0.4

Navachab, due to the increased gold price marginal ore is now economic and the pit is larger

0.3

Savuka, due to the increased gold price

0.3

Yatela, due to the inclusion of an additional cutback

0.2

Serra Grande, due to incorporation of an open-pit and the development of levels with higher
tons than expected

0.2

Morila, due to the increased gold price marginal ore is now economic

0.1

Other, total of non-significant changes

1.4

December 2006 Ore Reserves

66.9

Rounding of figures may result in computational discrepancies.

By-products

A number of by-products will be recovered as a result of processing the Gold Ore Reserves. These include
11,800t of uranium from the South African operations, 0.19Mt of Copper from Australia, 0.50Mt of Sulphur
from Brazil and 24.5Moz of silver from Argentina.

Competent persons

The information in this report that relates to exploration results, Mineral Resources or Ore Reserves is based
on information compiled by the competent persons listed below. They are either members of the Australian
Institute of Mining and Metallurgy (AusIMM) or recognised overseas professional organisations. They are all
full-time employees of the company.

The competent person for AngloGold Ashanti Exploration is:
• E Roth, PhD (Economic Geology), BSc (Hons) (Geology), MAusIMM, 16 years experience.

Competent persons for AngloGold Ashanti's Mineral Resources are:
• VA Chamberlain, MSc (Mining Engineering), BSc (Hons) (Geology), MAusIMM, 21 years experience.

• MF O'Brien, MSc (Mining Economics), BSc (Hons) (Geology), Dip Data, Pr.Sci.Nat., MAusIMM, 27 years’

experience.

Competent persons for AngloGold Ashanti's Ore Reserves are:

•   CE Brechtel, MSc (Mining Engineering), MAusIMM, 31 years’ experience.
•   D L Worrall, ACSM, MAusIMM, 26 years’ experience.
•   J van Zyl Visser, MSc (Mining Engineering), BSc (Mineral Resource Management), PLATO, 20 years’

experience.

The competent persons consent to the inclusion of the exploration, Mineral Resources and Ore Reserves
information in this report, in the form and context in which it appears.

Mineral Resources and Ore Reserves are reported in accordance with the minimum standard described by
the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (The
JORC Code, 2004 Edition), and also conform to the standards set out in the South African Code for the
Reporting of Mineral Resources and Mineral Reserves (the SAMREC 2000 Code). Mineral Resources are
inclusive of the Ore Reserve component unless otherwise stated.

Rounding of figures may result in computational discrepancies.

MINERAL RESOURCES AND ORE RESERVES

ORE RESERVES BY COUNTRY

(as at 31 December 2006)

METRIC IMPERIAL

Tonnes

million

Grade

g/t

Contained

gold

tonnes

Tons

million

Grade

oz/t

Contained

gold

million oz

South Africa

Proved

15.5

7.86

122.0

17.1

0.229

3.9

Probable

181.6

3.99

724.7

200.2

0.116

23.3

Total

197.2

4.29

846.7

217.3

0.125

27.2

Argentina* Proved

0.9

7.09

6.1

0.9

0.207

0.2

Probable

6.9

6.22

42.7

7.6

0.181

1.4

Total

7.7

6.32

48.8

8.5

0.184

1.6

Australia* Proved

54.9

1.18

64.7

60.5

0.034

2.1

Probable

133.2

1.02

135.4

146.8

0.030

4.4

Total

188.0

1.07

200.1

207.3

0.031

6.4

Brazil* Proved

3.7

5.60

20.8

4.1

0.163

0.7

Probable

10.3

7.40

76.3

11.4

0.216

2.5

Total

14.0

6.92

97.1

15.5

0.202

3.1

Ghana* Proved

50.8

2.13

108.2

56.0

0.062

3.5

Probable

74.5

3.10

231.3

82.2

0.091

7.4

Total

125.3

2.71

339.5

138.1

0.079

10.9

Guinea* Proved

18.2

0.60

10.8

20.1

0.017

0.3

Probable

52.7

0.85

45.0

58.1

0.025

1.4

Total

70.9

0.79

55.9

78.2

0.023

1.8

Mali* Proved

15.7

1.79

28.0

17.3

0.052

0.9

Probable

20.8

2.85

59.1

22.9

0.083

1.9

Total

36.4

2.39

87.2

40.02

0.070

2.8

Namibia Proved

5.3

1.08

5.8

5.9

0.032

0.2

Probable

10.1

1.63

16.5

11.2

0.048

0.5

Total

15.5

1.44

22.3

17.0

0.041

0.7

Tanzania Proved

4.0

0.97

3.9

4.5

0.028

0.1

Probable

74.9

3.47

259.6

82.6

0.101

8.3

Total

79.0

3.34

263.6

87.0

0.097

8.5

USA Proved

93.4

0.93

87.0

103.0

0.027

2.8

Probable

35.6

0.91

32.5

39.2

0.027

1.0

Total

129.0

0.93

119.5

142.2

0.027

3.8

Totals* Proved

262.4

1.74

457.2

289.2

0.051

14.7

Probable

600.6

2.70

623.3

662.1

0.079

52.2

Total

863.0

2.41

080.5

951.3

0.070

66.9

* Reserves attributable to AngloGold Ashanti

Rounding of figures may result in computational discrepancies.

MINERAL RESOURCES BY COUNTRY

(1)

(as at 31 December 2006)

METRIC IMPERIAL

Tonnes

million

Grade

g/t

Contained

gold

tonnes

Tons

million

Grade

oz/t

Contained

gold

million oz

South Africa

Measured

27.3

13.97

381.0

30.0

0.408

12.2

Indicated

528.5

3.89

2,054.4

582.6

0.113

66.1

Inferred

28.4

5.66

160.7

31.3

0.165

5.2

Total

584.2

4.44

2,596.1

643.9

0.130

83.5

Argentina** Measured

11.4

2.35

26.7

12.6

0.068

0.9

Indicated

17.5

3.24

56.6

19.2

0.095

1.8

Inferred

10.4

3.03

31.4

11.4

0.088

1.0

Total

39.2

2.93

114.7

43.2

0.085

3.7

Australia** Measured

71.2

1.08

76.6

78.5

0.031

2.5

Indicated

213.9

0.87

186.3

236.8

0.025

6.0

Inferred

233.3

0.73

170.3

257.1

0.021

5.5

Total

518.4

0.84

433.2

571.5

0.024

13.9

Brazil** Measured

8.6

6.16

52.7

9.4

0.180

1.7

Indicated

18.5

7.35

136.3

20.4

0.214

4.4

Inferred

25.7

7.11

182.9

28.3

0.207

5.9

Total

52.8

7.04

371.8

58.2

0.205

12.0

Ghana** Measured

82.1

3.60

295.7

90.4

0.105

9.5

Indicated

93.3

4.77

445.4

102.9

0.139

14.3

Inferred

43.9

6.47

284.2

48.4

0.189

9.1

Total

219.3

4.68

1,025.4

241.8

0.136

33.0

Guinea** Measured

18.7

0.60

11.2

20.6

0.018

0.4

Indicated

74.1

0.83

61.5

81.6

0.024

2.0

Inferred

131.4

0.66

86.4

144.8

0.019

2.8

Total

224.1

0.71

159.2

247.1

0.021

5.1

Mali** Measured

18.8

1.90

35.7

20.8

0.055

1.1

Indicated

23.4

2.80

65.6

25.8

0.082

2.1

Inferred

16.7

2.48

41.5

18.4

0.072

1.3

Total

59.0

2.42

142.8

65.0

0.071

4.6

Namibia Measured

11.4

0.81

9.3

11.6

0.024

0.3

Indicated

53.8

1.29

69.1

59.3

0.037

2.2

Inferred

33.7

1.16

38.9

37.1

0.034

1.3

Total

98.9

1.19

117.3

109.0

0.035

3.8

Tanzania Measured

4.0

0.97

3.9

4.5

0.028

0.1

Indicated

114.2

3.32

379.2

125.8

0.097

12.2

Inferred

24.3

3.09

75.2

26.8

0.090

2.4

Total

142.5

3.22

458.3

157.1

0.094

14.7

USA Measured

180.2

0.82

148.3

198.7

0.024

4.8

Indicated

95.7

0.75

71.5

105.4

0.022

2.3

Inferred

14.1

0.59

8.3

15.6

0.017

0.3

Total

290.0

0.79

228.1

319.7

0.023

7.3

Totals** Measured

433.7

2.40

1,041.1

478.1

0.070

33.5

Indicated

1,232.8

2.86

3,525.8

1,259.0

0.083

113.4

Inferred

561.9

1.92

1,079.9

619.4

0.056

34.7

Total

2,228.5

2.53

2,646.9

2,456.5

0.074

181.6

** Resources attributable to AngloGold Ashanti

(1)

Inclusive of the Ore Reserve component

Rounding of figures may result in computational discrepancies.

Group operating results

Dec

Sep

Dec

Sep

Dec

2006

2005

2006

2005

2006

2005

2006

2005

OPERATING RESULTS
UNDERGROUND OPERATION
Milled

- 000 tonnes

/ - 000 tons

3,296

3,592

3,513

13,489

13,806

3,633

3,960

3,873

14,870

15,219

Yield

- g / t

/ - oz / t

7.47

6.98

7.23

7.20

7.31

0.218

0.204

0.211

0.210

0.213

Gold produced

- kg

/ - oz (000)

24,611

25,066

25,412

97,112

100,858

791

806

817

3,123

3,243

SURFACE AND DUMP RECLAMATION
Treated

- 000 tonnes

/ - 000 tons

3,029

3,273

2,056

12,414

8,061

3,339

3,608

2,266

13,684

8,885

Yield

- g / t

/ - oz / t

0.52

0.46

0.57

0.50

0.52

0.015

0.013

0.016

0.015

Gold produced

- kg

/ - oz (000)

1,569

1,497

1,161

6,246

4,228

201

136

OPEN-PIT OPERATION
Mined

- 000 tonnes

/ - 000 tons

44,614

43,823

42,875

173,178

168,904

49,179

48,306

47,261

190,897

186,184

Treated

- 000 tonnes

/ - 000 tons

7,242

6,871

7,124

26,739

25,541

7,983

7,574

7,853

29,475

28,154

Stripping ratio

- t (mined total - mined ore) / t mined ore

4.51

5.56

4.35

4.82

5.02

4.51

5.56

4.35

4.82

5.02

Yield

- g / t

/ - oz / t

2.13

2.00

2.21

2.14

2.74

0.062

0.058

0.065

0.063

0.080

Gold in ore

- kg

/ - oz (000)

9,240

6,665

10,169

39,983

45,409

297

214

327

1,285

1,460

Gold produced

- kg

/ - oz (000)

15,451

13,742

15,767

57,334

69,871

497

442

507

1,843

2,246

HEAP LEACH OPERATION
Mined

- 000 tonnes

/ - 000 tons

15,534

15,381

15,126

63,519

61,091

17,124

16,955

16,674

70,018

67,342

Placed

- 000 tonnes

/ - 000 tons

5,888

5,790

5,127

23,329

22,277

6,490

6,382

5,652

25,716

24,557

Stripping ratio

- t (mined total - mined ore) / t mined ore

1.84

1.90

2.11

1.83

1.97

1.84

1.90

2.11

1.83

1.97

Yield

- g / t

/ - oz / t

0.79

0.84

0.87

0.82

0.83

0.023

0.024

0.025

0.024

Gold placed

- kg

/ - oz (000)

4,641

4,844

4,443

19,083

18,401

149

156

143

614

592

Gold produced

- kg

/ - oz (000)

4,066

3,559

4,119

14,561

16,826

131

114

132

468

541

TOTAL
Gold produced

- kg

/ - oz (000)

45,697

43,864

46,460

175,253

191,783

1,469

1,410

1,494

5,635

6,166

Gold sold

- kg

/ - oz (000)

45,866

43,185

46,445

173,639

190,767

1,475

1,388

1,493

5,583

6,133

Price received

- R / kg

/ - $ / oz

- sold

135,628

134,176

99,780

126,038

89,819

578

584

476

577

439

Total cash costs

- R / kg

/ - $ / oz

- produced

72,422

71,495

58,367

67,133

57,465

309

311

278

308

281

Total production costs

- R / kg

/ - $ / oz

- produced

98,145

95,267

82,873

90,345

76,495

419

414

395

414

374

PRODUCTIVITY PER EMPLOYEE
Target

- g

/ - oz

438

420

410

412

422

14.07

13.49

13.19

13.25

13.57

Actual

- g

/ - oz

372

360

371

358

376

11.97

11.57

11.92

11.49

12.10

CAPITAL EXPENDITURE - Rm

/ - $m

1,861

1,542

1,283

5,533

4,600

260

220

197

817

722

Tonnes (Tons) placed on to leach pad.

Gold placed / tonnes (tons) placed.

Gold placed into leach pad inventory.

Rounding of figures may results in computational discrepancies.

Quarter ended

Unaudited

Rand / Metric

Unaudited

Dollar / Imperial

Year

Group income statement

Quarter

Year

ended

December

September

December

2006

2005

2006

2005

Restated

SA Rand million

Notes

Unaudited

Revenue

5,975

5,707

4,478

21,104

17,388

Gold income

5,634

5,459

4,337

20,137

16,750

Cost of sales

(4,477)

(3,987)

(3,918)

(15,482)

(14,702)

Non-hedge derivative gain (loss)

482

510

(748)

(1,955)

(949)

Gross profit (loss)

1,639

1,981

(329)

2,700

1,099

Corporate administration and other expenses

(174)

(126)

(99)

(567)

(410)

Market development costs

(32)

(26)

(21)

(108)

(84)

Exploration costs

(116)

(112)

(69)

(417)

(288)

Other operating expenses

(26)

(34)

(33)

(129)

(127)

Operating special items

(98)

(56)

(416)

(130)

(499)

Operating profit (loss)

1,193

1,628

(967)

1,349

(309)

Interest receivable

218

155

Exchange (loss) gain

(11)

(36)

(17)

(29)

Fair value adjustment on option component of convertible bond

(210)

421

(271)

137

(211)

Finance costs

(246)

(157)

(216)

(822)

(690)

Fair value loss on interest rate swaps

(5)

Share of associates' profit (loss)

(4)

(15)

(6)

(17)

Profit (loss) before taxation

797

1,955

(1,476)

859

(1,106)

Taxation

(676)

(430)

105

(1,232)

216

Profit (loss) after taxation from continuing operations

120

1,524

(1,371)

(373)

(890)

Loss for the period from discontinued operations

(1)

(1)

(56)

(12)

(219)

Profit (loss) for the period

119

1,523

(1,427)

(385)

(1,109)

Allocated as follows:
Equity shareholders of parent

1,470

(1,456)

(587)

(1,255)

Minority interest

202

146

119

1,523

(1,427)

(385)

(1,109)

Basic earnings (loss) per ordinary share (cents)

Profit (loss) from continuing operations

533

(529)

(211)

(391)

Loss from discontinued operations

(21)

(4)

(83)

Profit (loss)

533

(550)

(215)

(474)

Diluted earnings (loss) per ordinary share (cents)

Profit (loss) from continuing operations

533

(529)

(211)

(391)

Loss from discontinued operations

(21)

(4)

(83)

Profit (loss)

533

(550)

(215)

(474)

Dividends

- Rm

1,246

614

- cents per Ordinary share

450

232

Calculated on the basic weighted average number of ordinary shares.

Calculated on the diluted weighted average number of ordinary shares.

The impact of the diluted earnings per share is anti-dilutive and therefore equal to the basic earnings per share.

Dividends are translated at actual rates on date of payment. The current period is an indicative amount only.

Rounding of figures may results in computational discrepancies.

Group income statement

Quarter

Year

ended

December

September

December

2006

2005

2006

2005

Restated

US Dollar million

Notes

Unaudited

Revenue

818

798

687

3,106

2,730

Gold income

770

763

665

2,964

2,629

Cost of sales

(612)

(557)

(600)

(2,282)

(2,309)

Non-hedge derivative (loss) gain

(25)

143

(120)

(239)

(135)

Gross profit (loss)

133

349

(55)

443

185

Corporate administration and other expenses

(24)

(18)

(15)

(84)

(64)

Market development costs

(4)

(4)

(3)

(16)

(13)

Exploration costs

(16)

(16)

(11)

(61)

(45)

Other operating expenses

(4)

(5)

(6)

(18)

(20)

Operating special items

(14)

(7)

(64)

(18)

(77)

Operating profit (loss)

300

(153)

246

(34)

Interest receivable

Exchange (loss) gain

(2)

(5)

(2)

(5)

Fair value adjustment on option component of convertible bond

(28)

(42)

(32)

Finance costs

(34)

(22)

(33)

(123)

(108)

Fair value loss on interest rate swaps

(1)

Share of associates' loss

(2)

(1)

(3)

Profit (loss) before taxation

344

(231)

168

(158)

Taxation

(82)

(69)

(180)

(Loss) profit after taxation from continuing operations

(65)

276

(213)

(12)

(123)

Loss for the period from discontinued operations

(9)

(2)

(36)

(Loss) profit for the period

(65)

276

(222)

(14)

(159)

Allocated as follows:
Equity shareholders of parent

(72)

268

(226)

(44)

(182)

Minority interest

(65)

276

(222)

(14)

(159)

Basic (loss) earnings per ordinary share (cents)

(Loss) profit from continuing operations

(26)

(82)

(14)

(55)

Loss from discontinued operations

(3)

(1)

(14)

(Loss) profit

(26)

(85)

(16)

(69)

Diluted (loss) earnings per ordinary share (cents)

(Loss) profit from continuing operations

(26)

(82)

(14)

(55)

Loss from discontinued operations

(3)

(1)

(14)

(Loss) profit

(26)

(85)

(16)

(69)

Dividends

- $m

173

106

- cents per Ordinary share

Calculated on the basic weighted average number of ordinary shares.

Calculated on the diluted weighted average number of ordinary shares.

The impact of the diluted earnings per share is anti-dilutive and therefore equal to the basic earnings per share.

Dividends are translated at actual rates on date of payment. The current period is an indicative amount only.

Rounding of figures may results in computational discrepancies.

Group balance sheet

As at

December

September

December

2006

2005

Restated

SA Rand million

Notes

Unaudited

ASSETS

Non-current assets
Tangible assets

42,382

44,458

37,487

Intangible assets

2,909

3,137

2,533

Investments in associates

300

327

223

Other investments

884

846

645

Inventories

2,006

1,991

1,182

Trade and other receivables

405

120

124

Derivatives

243

Deferred taxation

432

419

279

Other non-current assets

313

101

49,676

51,440

42,817

Current assets
Inventories

3,425

3,592

2,442

Trade and other receivables

1,318

1,783

1,553

Derivatives

4,546

5,548

4,280

Current portion of other non-current assets

Cash restricted for use

Cash and cash equivalents

3,467

2,871

1,328

12,836

13,845

9,698

Non-current assets held for sale

123

225

100

12,959

14,070

9,798

TOTAL ASSETS

62,635

65,510

52,615

EQUITY AND LIABILITIES

Share capital and premium

22,083

22,077

19,047

Retained earnings and other reserves

(1,188)

(2,539)

Shareholders' equity

20,895

22,114

16,508

Minority interests

436

478

374

Total equity

21,331

22,592

16,882

Non-current liabilities
Borrowings

9,963

10,497

10,825

Environmental rehabilitation and other provisions

2,785

2,671

2,265

Provision for pension and post-retirement benefits

1,181

1,267

1,249

Trade, other payables and deferred income

150

104

Derivatives

2,199

2,592

2,460

Deferred taxation

7,722

7,615

7,320

24,000

24,746

24,206

Current liabilities
Current portion of borrowings

413

290

1,190

Trade, other payables and deferred income

3,720

3,461

2,813

Derivatives

11,937

12,794

6,814

Taxation

1,234

1,532

710

17,304

18,077

11,527

Non-current liabilities held for sale

17,304

18,172

11,527

Total liabilities

41,304

42,918

35,733

TOTAL EQUITY AND LIABILITIES

62,635

65,510

52,615

Net asset value - cents per share

7,607

8,208

6,372

Rounding of figures may results in computational discrepancies.

Group balance sheet

As at

December

September

December

2006

2005

Restated

US Dollar million

Notes

Unaudited

ASSETS

Non-current assets
Tangible assets

6,054

5,726

5,908

Intangible assets

415

404

399

Investments in associates

Other investments

126

109

102

Inventories

287

256

186

Trade and other receivables

Derivatives

Deferred taxation

Other non-current assets

7,095

6,626

6,748

Current assets
Inventories

489

463

385

Trade and other receivables

188

230

245

Derivatives

649

714

675

Current portion of other non-current assets

Cash restricted for use

Cash and cash equivalents

495

370

209

1,833

1,783

1,529

Non-current assets held for sale

1,851

1,812

1,545

TOTAL ASSETS

8,946

8,438

8,293

EQUITY AND LIABILITIES

Share capital and premium

3,154

2,844

3,002

Retained earnings and other reserves

(169)

(399)

Shareholders' equity

2,985

2,848

2,603

Minority interests

Total equity

3,047

2,910

2,662

Non-current liabilities
Borrowings

1,423

1,352

1,706

Environmental rehabilitation and other provisions

398

344

356

Provision for pension and post-retirement benefits

169

163

197

Trade, other payables and deferred income

Derivatives

314

334

388

Deferred taxation

1,103

981

1,154

3,428

3,187

3,815

Current liabilities
Current portion of borrowings

188

Trade, other payables and deferred income

531

446

442

Derivatives

1,705

1,648

1,074

Taxation

176

197

112

2,471

2,328

1,816

Non-current liabilities held for sale

2,471

2,341

1,816

Total liabilities

5,899

5,528

5,631

TOTAL EQUITY AND LIABILITIES

8,946

8,438

8,293

Net asset value - cents per share

1,087

1,057

1,005

Rounding of figures may results in computational discrepancies.

Group cash flow statement

Quarter

Year

ended

December

September

December

2006

2005

2006

2005

Restated

SA Rand million

Unaudited

Cash flow from operating activities
Receipts from customers

5,906

5,681

4,818

21,228

17,175

Payments to suppliers and employees

(3,283)

(3,181)

(3,628)

(12,424)

(12,907)

Cash generated from operations

2,623

2,500

1,190

8,804

4,268

Cash generated (utilised) by discontinued operations

(16)

(23)

(6)

(188)

Taxation paid

(553)

(146)

(48)

(968)

(188)

Net cash inflow from operating activities

2,077

2,338

1,118

7,830

3,892

Cash flows from investing activities
Capital expenditure

(1,861)

(1,542)

(1,283)

(5,533)

(4,600)

Proceeds from disposal of tangible assets

322

393

Proceeds on disposal of discontinued assets

Other investments acquired

(22)

(406)

(67)

(446)

(83)

Associate loans and acquisitions

(2)

(3)

(1)

(68)

(93)

Proceeds from disposal of investments

409

449

Cash restricted for use

(54)

(20)

(44)

112

Interest received

173

113

Loans advanced

(5)

(2)

(5)

(45)

Repayment of loans advanced

Utilised in hedge restructure

(415)

Net cash outflow from investing activities

(1,539)

(1,485)

(1,223)

(4,980)

(4,886)

Cash flows from financing activities
Proceeds from issue of share capital

3,068

Share issue expenses

(32)

Proceeds from borrowings

619

496

154

1,525

4,194

Repayment of borrowings

(321)

(294)

(141)

(3,957)

(2,183)

Finance costs

(82)

(169)

(45)

(586)

(471)

Dividends paid

(55)

(606)

(26)

(913)

(1,051)

Net cash inflow (outflow) from financing activities

168

(560)

(32)

(895)

549

Net increase (decrease) in cash and cash equivalents

706

294

(137)

1,955

(445)

Translation

(109)

127

(4)

184

143

Cash and cash equivalents at beginning of period

2,871

2,450

1,469

1,328

1,630

Net cash and cash equivalents at end of period

3,467

2,871

1,328

3,467

1,328

Cash generated from operations
Profit (loss) before taxation

797

1,955

(1,476)

859

(1,106)

Adjusted for:
Movement on non-hedge derivatives

304

120

1,257

4,590

1,744

Amortisation of tangible assets

1,215

1,034

900

4,059

3,203

Amortisation of intangible assets

Deferred stripping

(34)

(262)

(140)

(528)

(153)

Interest receivable

(69)

(60)

(28)

(218)

(155)

Operating special items

416

158

444

Finance costs

246

157

216

822

690

Fair value adjustment on option components of convertible bond

210

(421)

271

(137)

211

Environmental, rehabilitation and other expenditure

(133)

(26)

159

(160)

265

Termination of employee benefit plans

(61)

Other non-cash movements

115

153

(140)

221

(113)

Movement in working capital

(130)

(210)

(248)

(875)

(714)

2,623

2,500

1,190

8,804

4,268

Movement in working capital
Decrease (increase) in inventories

156

(842)

(186)

(1,852)

(1,086)

Decrease (increase) in trade and other receivables

162

(199)

(66)

(46)

(Decrease) increase in trade and other payables

(448)

831

1,023

418

(130)

(210)

(248)

(875)

(714)

Rounding of figures may results in computational discrepancies.

Group cash flow statement

Quarter

Year

ended

December

September

December

2006

2005

2006

2005

Restated

US Dollar million

Unaudited

Cash flow from operating activities
Receipts from customers

804

798

741

3,132

2,707

Payments to suppliers and employees

(449)

(452)

(559)

(1,850)

(2,034)

Cash generated from operations

355

346

182

1,282

673

Cash generated (utilised) by discontinued operations

(2)

(4)

(1)

(31)

Taxation paid

(80)

(20)

(7)

(143)

(30)

Net cash inflow from operating activities

276

324

171

1,138

612

Cash flows from investing activities
Capital expenditure

(260)

(220)

(197)

(817)

(722)

Proceeds from disposal of tangible assets

Proceeds on disposal of discontinued assets

Other investments acquired

(4)

(62)

(10)

(68)

(12)

Associate loans and acquisitions

(10)

(15)

Proceeds from disposal of investments

Cash restricted for use

(8)

(3)

(6)

Interest received

Loans advanced

(1)

(1)

(7)

Repayment of loans advanced

Utilised in hedge restructure

(69)

Net cash outflow from investing activities

(217)

(213)

(186)

(739)

(771)

Cash flows from financing activities
Proceeds from issue of share capital

512

Share issue expenses

(5)

Proceeds from borrowings

226

659

Repayment of borrowings

(29)

(41)

(19)

(623)

(343)

Finance costs

(10)

(24)

(6)

(87)

(74)

Dividends paid

(8)

(85)

(4)

(133)

(169)

Net cash inflow (outflow) from financing activities

(73)

(7)

(110)

Net increase (decrease) in cash and cash equivalents

(22)

289

(77)

Translation

(11)

(3)

Cash and cash equivalents at beginning of period

370

343

231

209

289

Net cash and cash equivalents at end of period

495

370

209

495

209

Cash generated from operations
Profit (loss) profit before taxation

344

(231)

168

(158)

Adjusted for:
Movement on non-hedge derivatives

134

(54)

199

627

262

Amortisation of tangible assets

167

144

138

597

503

Amortisation of intangible assets

Deferred stripping

(12)

(31)

(22)

(75)

(24)

Interest receivable

(10)

(8)

(4)

(32)

(25)

Operating special items

Finance costs

123

108

Fair value adjustment on option components of convertible bond

(58)

(16)

Environmental, rehabilitation and other expenditure

(18)

(3)

(22)

Termination of employee benefit plans

(10)

Other non-cash movements

(24)

(18)

Movement in working capital

(16)

(38)

(37)

(140)

(108)

355

346

182

1,281

673

Movement in working capital
Increase in inventories

(57)

(55)

(31)

(211)

(123)

(Increase) decrease in trade and other receivables

(2)

(8)

(11)

Increase (decrease) in trade and other payables

(8)

(16)

(38)

(37)

(140)

(108)

Rounding of figures may results in computational discrepancies.

Statement of recognised income and expense

Year

ended

December

2006

2005

Restated

Unaudited

Audited

Actuarial gains (losses) on pension and post-retirement benefits

283

(173)

Net loss on cash flow hedges removed from equity and reported in income

1,274

391

Net loss on cash flow hedges

(1,604)

(1,281)

Gain on available-for-sale financial assets

Deferred taxation on items above

446

Net exchange translation differences

2,292

1,534

Net income recognised directly in equity

2,373

933

Loss for the year

(385)

(1,109)

Total recognised income (expense) for the year

1,988

(176)

Attributable to:
Equity shareholders of the parent

1,755

(348)

Minority interest

233

172

1,988

(176)

Actuarial gains (losses) on pension and post-retirement benefits

(27)

Net loss on cash flow hedges removed from equity and reported in income

217

Net loss on cash flow hedges

(229)

(202)

Gain on available-for-sale financial assets

Deferred taxation on items above

Net exchange translation differences

281

294

Net income recognised directly in equity

331

154

Loss for the year

(14)

(159)

Total recognised income (expense) for the year

317

(5)

Attributable to:
Equity shareholders of the parent

289

(26)

Minority interest

317

(5)

Rounding of figures may results in computational discrepancies.

SA Rand million

US Dollar million

Notes

for the quarter and year ended 31 December 2006

1. Basis of preparation

The financial statements in this quarterly report have been prepared in accordance with the historic cost convention
except for certain financial instruments which are stated at fair value. 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 2005 and revised International Financial Reporting Standards (IFRS) which are effective
1 January 2006, where applicable.

The financial statements of AngloGold Ashanti Limited have been prepared in compliance with IAS34, JSE Listings
Requirements and in the manner required by the South African Companies Act, 1973 for the preparation of financial
information of the group for the quarter and year ended 31 December 2006.

As part of the year-end process and in compliance with disclosures for the year ended 31 December 2006, certain
amounts have been reclassified to agree with current disclosures. Full details of all changes will be presented in the
2006 annual report which is expected to be distributed to shareholders during March 2007.

2. Revenue

Quarter ended

Year ended

Quarter ended

Year ended

Dec

2006

Sept

2006

Dec

2005

Dec

2006

Dec

2005

Dec

2006

Sept

2006

Dec

2005

Dec

2006

Dec

2005

Unaudited

Restated

Unaudited

Restated

Unaudited

Restated

Unaudited

Restated

Unaudited

SA Rand million

US Dollar million

Gold income

5,634

5,459

4,337

20,137

16,750

770

763

665

2,964

2,629

By-products and other
revenue (note 3)

272

188

112

749

483

110

Interest receivable

218

155

5,975

5,707

4,478

21,104

17,388

818

798

687

3,106

2,730

3. Cost of sales

Quarter ended

Year ended

Quarter ended

Year ended

Dec

2006

Sept

2006

Dec

2005

Dec

2006

Dec

2005

Dec

2006

Sept

2006

Dec

2005

Dec

2006

Dec

2005

Unaudited

Restated

Unaudited

Restated

Unaudited

Restated

Unaudited

Restated

Unaudited

SA Rand million

US Dollar million

Cash operating costs

3,403

3,095

2,777

11,944

11,300

466

432

425

1,770

1,777

By-products and other
revenue (note 2)

(272)

(188) (112) (749) (483) (38)

(26) (17) (110) (76)

3,131

2,907

2,665

11,245

10,817

428

406

408

1,660

1,701

Other cash costs

172

167

116

594

412

Total cash costs

3,303

3,075

2,781

11,839

11,229

452

429

426

1,746

1,766

Retrenchment costs

114

152

168

Rehabilitation & other
non-cash costs

(122)

207

(35)

368

(17)

(3)

Production costs

3,295

3,111

3,050

11,956

11,765

451

434

467

1,765

1,849

Amortisation of tangible
assets

1,215

1,034

900

4,059

3,203

167

144

138

597

503

Amortisation of
intangible assets

–

Total production costs

4,514

4,148

3,954

16,028

14,981

618

579

606

2,364

2,354

Inventory change

(37)

(161) (35) (546) (279) (6)

(22) (5)

(82)

(45)

4,477

3,987

3,918

15,482

14,702

612

557

600

2,282

2,309

Rounding of figures may result in computational discrepancies.

4. Other operating expenses

Quarter ended

Year ended

Quarter ended

Year ended

Dec

2006

Sept

2006

Dec

2005

Dec

2006

Dec

2005

Dec

2006

Sept

2006

Dec

2005

Dec

2006

Dec

2005

Unaudited

Restated

Unaudited

Restated

Unaudited

Restated

Unaudited

Restated

Unaudited

SA Rand million

US Dollar million

Pension and medical defined
benefit provisions

(20) 3

(57)

(56) –

(3) –

(8) (9)

Claims filed by former
employees in respect of
loss of employment, work
related accident injuries
and diseases, govern-
mental fiscal claims and
costs of old tailings
operations

(30)

(14) (36) (67) (71) (4)

(2) (6) (9) (11)

Other

–

(5)

–

(1)

–

(26)

(34) (33) (129) (127) (4)

(5) (6)

(18) (20)

5. Operating special items

Quarter ended

Year ended

Quarter ended

Year ended

Dec

2006

Sept

2006

Dec

2005

Dec

2006

Dec

2005

Dec

2006

Sept

2006

Dec

2005

Dec

2006

Dec

2005

Unaudited

Restated

Unaudited

Restated

Unaudited

Restated

Unaudited

Restated

Unaudited

SA Rand million

US Dollar million

Under provision of indirect
taxes

(118)

(59) (27) (202) (27) (16)

(8) (4) (28) (4)

Performance related option
expense

(129)

–

(129)

–

(19)

–

(19)

–

Cost of E-shares issued to
Izingwe Holdings (Pty) Ltd,
a Black Economic
Empowerment company

(131)

–

(131)

–

(19)

–

(19)

–

Impairment of tangible
assets

(41)

–

(255)

(44)

(300)

(6)

–

(38)

(6)

(44)

Profit on disposal of assets
(note 8)

321

376

Abandonment of assets at
Malian operations

–

(31)

–

(31)

–

(5)

–

(5)

Impairment of intangible
assets

–

(125)

–

(125)

–

(20)

–

(20)

Contract termination fee at
Geita

–

(55)

–

(9)

(98)

(56) (416) (130) (499) (14)

(7) (64) (18) (77)

Rounding of figures may result in computational discrepancies.

6. Taxation

Quarter ended

Year ended

Quarter ended

Year ended

Dec

2006

Sept

2006

Dec

2005

Dec

2006

Dec

2005

Dec

2006

Sept

2006

Dec

2005

Dec

2006

Dec

2005

Unaudited

Restated

Unaudited

Restated

Unaudited

Restated

Unaudited

Restated

Unaudited

SA Rand million

US Dollar million

Current tax

Normal taxation

(261)

(520) (117)

(1,370) (182) (37)

(72) (18) (201) (29)

Disposal of tangible
assets (note 8)

(2)

(3) (4) (13) (2) –

(1) (1) (2) –

Under provision prior year

(49)

–

(347)

(49)

(347)

(7)

–

(52)

(7)

(53)

(312)

(523) (468)

(1,432) (531) (44)

(73) (71) (210) (82)

Deferred taxation

Temporary differences

(76)

–

(215)

(248)

(7)

(1)

(30)

(36)

Impairment and disposal
of tangible assets (note
8)

(57)

–

(56)

(8)

–

(8)

Change in estimated
deferred taxation

(268)

–

(271)

(38)

–

(38)

Contract termination fee
at Geita

–

Change in statutory tax
rate

–

302

–

695

–

107

Unrealised non-hedge
derivatives

133

742

128

106

(364)

573

200

747

(38)

117

Total taxation

(676)

(430)

105

(1,232)

216

(82)

(69)

(180)

7. Discontinued operations

The Ergo surface dump reclamation, which forms part of the South African operations, has been discontinued as the
operation has reached the end of its useful life. The results of Ergo are presented below:

Quarter ended

Year ended

Quarter ended

Year ended

Dec

2006

Sept

2006

Dec

2005

Dec

2006

Dec

2005

Dec

2006

Sept

2006

Dec

2005

Dec

2006

Dec

2005

Unaudited

Restated

Unaudited

Restated

Unaudited

Restated

Unaudited

Restated

Unaudited

SA Rand million

US Dollar million

Gold income

111

–

Retrenchment, rehabilitation
and other costs

(19)

(6) (7)

(39)

(418) (3)

(1) (1) (6) (66)

Gross loss (profit)

(13)

(3) 5

(13)

(307)

(2)

–

(2)

(48)

Impairment loss reversed

–

115

–

Loss (profit) before taxation
from discontinued
operations

(13)

(3) 5

(13)

(192)

(2)

–

(2)

(31)

Taxation

(61)

(27)

–

(9)

–

(5)

Net loss attributable to
discontinued operations

(1)

(1) (56) (12) (219) –

–

(9)

(2)

(36)

Rounding of figures may result in computational discrepancies.

8. Headline earnings (loss)

Quarter ended

Year ended

Quarter ended

Year ended

Dec

2006

Sept

2006

Dec

2005

Dec

2006

Dec

2005

Dec

2006

Sept

2006

Dec

2005

Dec

2006

Dec

2005

Unaudited

Restated

Unaudited

Restated

Unaudited

Restated

Unaudited

Restated

Unaudited

SA Rand million

US Dollar million

The profit (loss) attributable
to equity shareholders has
been adjusted by the
following to arrive at
headline (loss) earnings:

Profit (loss) attributable to
equity shareholders

1,470

(1,456)

(587)

(1,255)

(72)

268

(226)

(44)

(182)

Impairment of tangible
assets (note 5)

–

255

300

–

Impairment of intangible
assets (note 5)

–

125

–

125

–

(Profit) loss on disposal of
assets (note 5)

(321)

(3) (22) (376) (39) (46)

(1) (3) (54) (5)

Impairment of associate

–

Taxation on items above –
current portion

–

Taxation on items above –
deferred portion (note 6)

–

(64)

(79)

–

(9)

(12)

Net loss from discontinued
operations (note 7)

219

–

Headline (loss) earnings

(150)

1,471

(1,091)

(838)

(716)

(103)

268

(170)

(80)

(97)

Cents per share

(1)

Headline (loss) earnings

(54)

534

(412)

(307)

(271)

(37)

(64)

(29)

(37)

(1) Calculated on the basic weighted average number of ordinary shares.

9. Shares

Quarter ended

Year ended

Dec

2006

Sept

2006

Dec

2005

Dec

2006

Dec

2005

Authorised:

Ordinary shares of 25 SA cents each

400,000,000

400,000,000 400,000,000 400,000,000 400,000,000

E ordinary shares of 25 SA cents each

4,280,000

– –

4,280,000 –

A redeemable preference shares of 50 SA cents each

2,000,000

2,000,000 2,000,000 2,000,000 2,000,000

B redeemable preference shares of 1 SA cent each

5,000,000

5,000,000 5,000,000 5,000,000 5,000,000

Issued and fully-paid:

Ordinary shares in issue

276,236,153

275,258,118 264,938,432 276,236,153 264,938,432

E ordinary shares in issue

4,185,770

– –

4,185,770 –

Total ordinary shares:

280,421,923

275,258,118 264,938,432 280,421,923 264,938,432

A redeemable preference shares

2,000,000

2,000,000 2,000,000 2,000,000 2,000,000

B redeemable preference shares

778,896

778,896 778,896 778,896 778,896

In calculating the diluted number of ordinary shares outstanding
for the year, the following were taken into consideration:

Ordinary shares

275,394,961

275,225,150 264,293,098 272,214,937 264,052,904

E Ordinary shares

773,762

– –

194,954 –

Time

options

304,280

281,656 537,379 398,326 522,298

Bonus Share Plan

203,495

164,406 21,039 199,390 60,432

Basic ordinary shares

276,676,498

275,671,212 264,851,516 273,007,607 264,635,634

Dilutive potential of share options

–

124,674

565,436

–

Diluted number of ordinary shares (¹)

276,676,498

275,795,886 265,416,952 273,007,607 265,236,949

(1) The Basic and diluted number of ordinary shares are the same for December 2006 quarter and the year 2006 as the effects of shares for

performance related options are anti-dilutive.

Rounding of figures may result in computational discrepancies.

On 11 December 2006, shareholders approved the creation of E ordinary shares and the implementation of an
Employee Share Ownership Plan and Black Economic Empowerment transaction (“BEE transaction”).

During the quarter 49,445 ordinary shares were allotted in terms of the AngloGold Share Incentive Scheme and
928,590 ordinary shares were allotted to The Bokamoso ESOP Trust in terms of the BEE transaction. In addition,
2,785,770 E ordinary shares were issued to The Bokamoso ESOP and 1,400,000 E ordinary shares were issued to
Izingwe Holdings (Proprietary) Limited in terms of the BEE transaction.

10. Ordinary share capital and premium

As at

Dec

2006

Sept

2006

Dec

2005

Dec

2006

Sept

2006

Dec

2005

Unaudited

Restated

Unaudited

Restated

Unaudited

SA Rand million

US Dollar million

Balance at beginning of period

19,360

19,360

19,300

3,055

3,055

3,415

Ordinary shares issued

3,331

3,030

550

506

E ordinary shares issued

353

–

Translation

–

(363)

(677) (369)

Sub-total 23,046

22,390

19,360

3,292

2,884

3,055

Redeemable preference shares held within the
group

(313)

(313) (313) (45)

(40) (53)

Ordinary shares held within the group

(297)

–

(43)

–

E Ordinary shares held within the group

(353)

–

(50)

–

Balance at end of period

22,083

22,077

19,047

3,154

2,844

3,002

11. Retained earnings and other reserves

Retained

Earnings

Non-

distributable

reserves

Foreign

currency

translation

reserve

Actuarial

gains

(losses)

Other

Comprehen-

sive

income

Total

SA Rand million

Balance at December 2004 as previously
reported

3,379

138

(3,552)

(122)

(1,040)

(1,197)

Change in comparative data (note 19)

(83)

As restated

3,296

138

(3,552)

(122)

(1,040)

(1,280)

Actuarial losses recognised

(173)

Deferred taxation thereon

Loss attributable to equity shareholders

(1,255)

Dividends

(926)

Net loss on cash flow hedges removed from
equity and reported in income

387

Net loss on cash flow hedges

(1,272) (1,272)

Deferred taxation on cash flow hedges

377

Gain on available-for-sale financial assets

Deferred taxation on available-for-sale financial
assets

Share-based payment expense

Translation

1,642

(139)

1,503

Balance at December 2005

1,115

138

(1,910)

(227)

(1,655)

(2,539)

Actuarial gains recognised

283

Deferred taxation thereon

(102)

Loss attributable to equity shareholders

(587)

Dividends (742)

(742)

Net loss on cash flow hedges removed from
equity and reported in income

1,264

Net loss on cash flow hedges

(1,592) (1,592)

Deferred taxation on cash flow hedges

167

Gain on available for sale financial assets

Deferred taxation available-for-sale financial assets

(15) (15)

Share-based payment expense

338

Translation

2,346

(88)

2,259

Balance at December 2006

(214)

138

436

(45)

(1,503)

(1,188)

Rounding of figures may result in computational discrepancies.

Retained

Earnings

Non-

distributable

reserves

Foreign

currency

translation

reserve

Actuarial

gains

(losses)

Other

Comprehen-

sive

income

Total

US Dollar million

Balance at December 2004 previously reported

286

(317)

(22)

(184)

(213)

Change in comparative data (note 19)

(13)

As restated

273

(317)

(22)

(184)

(226)

Actuarial losses recognised

(27)

Deferred taxation thereon

Loss attributable to equity shareholders

(182)

Dividends (149)

(149)

Net loss on cash flow hedges removed from
equity and reported in income

Net loss on cash flow hedges

(200)

Deferred taxation on cash flow hedges

Gain on available-for-sale financial assets

Share-based payment expense

Translation

(2)

251

295

Balance at December 2005

(58) 22

(66)

(36)

(261)

(399)

Actuarial gains recognised

Deferred taxation thereon

(15)

Loss attributable to equity shareholders

(44)

Dividends (107)

(107)

Net loss on cash flow hedges removed
from equity and reported in income

215

Net loss on cash flow hedges

(227)

Deferred taxation on cash flow hedges

Gain on available-for-sale financial assets

Deferred taxation on cash flow hedges

(2) (2)

Share-based payment expense

Translation

(2)

307

(25)

283

Balance at December 2006

(209)

241

(6)

(215)

(169)

12. Minority interests

As at

Dec

2006

Sept

2006

Dec

2005

Dec

2006

Sept

2006

Dec

2005

Unaudited

Restated

Unaudited

Restated

Unaudited

SA Rand million

US Dollar million

Balance at beginning of year

374

374

327

Attributable profit

202

152

146

Dividends paid

(171)

(116) (125) (25)

(18) (20)

Net loss on cash flow hedges removed from
equity and reported in income

Net loss on cash flow hedges

(12)

(9) (9) (2)

(1) (2)

Translation

(2)

(2) (1)

Balance at end of period

436

478

374

13. Exchange rates

Dec

2006

Sept

2006

Dec

2005

Unaudited

Rand/US dollar average for the year to date

6.77

6.59 6.37

Rand/US dollar average for the quarter

7.31

7.15 6.53

Rand/US dollar closing

7.00

7.76 6.35

Rand/Australian dollar average for the year to date

5.10

4.93 4.85

Rand/Australian dollar average for the quarter

5.63

5.41 4.86

Rand/Australian dollar closing

5.53

5.82 4.65

BRL/US dollar average for the year to date

2.18

2.18 2.44

BRL/US dollar average for the quarter

2.15

2.17 2.25

BRL/US dollar closing

2.14

2.17 2.35

Rounding of figures may result in computational discrepancies.

14. Capital commitments

Dec

2006

Sept

2006

Dec

2005

Dec

2006

Sept

2006

Dec

2005

Unaudited

Restated

Unaudited

Restated

Unaudited

SA Rand million

US Dollar million

Orders placed and outstanding on capital contracts
at the prevailing rate of exchange

2,475

2,910

1,182

354

375

186

Liquidity and capital resources:

To service the above capital commitments and other operational requirements, the group is dependent on existing cash resources, cash generated
from operations and borrowing facilities.

Cash generated from operations is subject to operational, market and other risks. Distributions from operations may be subject to foreign investment
and exchange control laws and regulations and the quantity of foreign exchange available in offshore countries. In addition distributions from joint
ventures are subject to the relevant board approval.

The credit facilities and other financing arrangements contain financial covenants and other similar undertakings. To the extent that external borrowings
are required, the groups covenant performance indicates that existing financing facilities will be available to meet the above commitments. To the
extent that any of financing facilities mature in the near future, the group believes that these facilities can be refinanced on similar terms to those
currently in place.

15. Contingent liabilities

AngloGold Ashanti’s contingent liabilities at 31 December 2006 are detailed below:

Water pumping cost – South Africa – The group is involved in a legal dispute regarding the responsibility for water
pumping of the Margaret shaft at the Stilfontein mine. Following an attempt by DRDGold Limited to liquidate its North
West operations and avoid incurring pumping costs, AngloGold Ashanti launched an urgent application against
DRDGold Limited and government departments requesting the court to order the continued pumping of water at the
Stilfontein Mines. The cessation of water pumping is likely to cause flooding in various of the Group’s Vaal River
operations. The Department of Water Affairs and Forestry responded by issuing directives to the mining companies
directing that they share the costs of pumping at the Stilfontein Margaret Shaft.

The three mining companies, Simmer and Jack Mines Limited, Harmony Gold Mining Company Limited and
AngloGold Ashanti Limited, are finalising an arrangement in which responsibility for the water pumping will be
transferred to an independent newly formed company. AngloGold Ashanti’s responsibility will be limited to providing
one-third of the start-up capital on loan account and the three mining companies will be members of the newly formed
company.

Should the proposed arrangement not be acceptable to the courts and/or the regulatory authorities, the proposal may
have to be amended. Due to this uncertainty, no estimate is made of any potential liabilities as management believe
that the proposed arrangement is a pragmatic and reasonable basis to resolve the issue.

Groundwater pollution – South Africa – AngloGold Ashanti has identified a number of groundwater pollution sites at
its current operations in South Africa, and has investigated a number of different technologies and methodologies that
could possibly be used to remediate the pollution plumes. The viability of the suggested remediation techniques in
the local geological formation in South Africa is however unknown. No sites have been remediated and present
research and development work is focused on several pilot projects to find a solution that will in fact yield satisfactory
results in South African conditions. Subject to the technology being developed as a remediation technique, no
reliable estimate can be made for the obligation.

Provision of surety – South Africa – AngloGold Ashanti has provided sureties in favour of a lender on a Gold loan
facility with its affiliate Oro Africa (Pty) Ltd and one of its subsidiaries to a maximum value of R100m ($14m). The
suretyship agreements have a termination notice period of 90 days. The Group receives a fee from the associate for
providing the surety, and has provided for non-performance.

Sales tax on gold deliveries – Brazil – Mineração Serra Grande S.A.(MSG), the operator of the Crixas mine in Brazil,
has received two tax assessments from the State of Goias related to payments of sales taxes on gold deliveries for
export: one for the period between February 2004 and June 2005 and the other for the period between July 2005 and
May 2006. The tax authorities maintain that whenever a taxpayer exports gold through a branch located in a different
Brazilian State, it must obtain an authorisation from the Goias State Treasury by means of a Special Regime
Agreement (Termo de Acordo re Regime Especial – TARE). The Serra Grande operation is co-owned with Kinross
Gold Corporation. The company manages the operation and its attributable share of the first assessment is
approximately $29m. In May 2006 MSG signed the TARE, which authorised the remittance of gold to the company’s
branch in Minas Gerais specifically for export purposes. In November 2006 the administrative council’s second
chamber ruled in favour of Serra Grande and fully canceled the tax liability related to the first period. The State of
Goias may still appeal to the full board of the State of Goias tax administrative council. The second assessment was
issued by the State of Goias in October 2006 on the same grounds of the first one, and the attributable share of the
assessment is approximately $18m. The company believes both assessments are in violation of Federal legislation
on sales taxes.

VAT Disputes – Brazil – MSG received a tax assessment in October 2003 from the State of Minas Gerais related to
sales taxes on gold allegedly returned from the branch in Minas Gerais to the company head office in the State of
Goiás. The company lost the case at the administrative level but is now discussing at the judicial sphere. The
company believes there is a remote chance of success for the State of Minas Gerais. The company’s attributable
share of the assessment is approximately $6m.

VAT Dispute – Brazil – Morro Velho is involved in a dispute with tax authorities. As a result of an erroneous
duplication of a shipping invoice between two states in Brazil, tax authorities are claiming that VAT is payable on the
second invoice. The amount involved is approximately $5m.

Social security payments – Brazil – AngloGold Ashanti Brazil is being accused of failing to pay certain required
payments towards the social security system in Brazil during the period 1997 to 2004. Legislation is unclear on
whether the contributions are actually due and payable. The amount involved is approximately $2m.

Litigation with mining contractor – Ghana – A group of employees of Mining and Building Contractors (MBC), the
Obuasi underground developer, are claiming to be employees of the group. If successful, there is a risk of some
employees claiming rights to share options.

Capital cost of water pipelines – Namibia – A potential liability of approximately $1m exists at Navachab in Namibia to
pay the outstanding capital cost of the water pipeline in the event of mine closure prior to 2019.

16. Concentration of risk

There is a concentration of risk in respect of reimbursable value added tax and fuel duties from the Malian
government:

• Reimbursable value added tax due from the Malian government for the company, amounts to an attributable

$34m at 31 December 2006 (30 September 2006: attributable $35m). The last audited value added tax return
was for the period ended 31 December 2005 and at that date an attributable $19m was still outstanding and an
attributable $15m is still subject to audit. The accounting processes for the unaudited amount are in accordance
with the processes advised by the Malian government in terms of the previous audits.

• Reimbursable fuel duties from the Malian government for the company, amount to an attributable $11m at

31 December 2006 (30 September 2006: attributable $12m). Fuel duty refund claims are required to be
submitted before 31 January of the following year and are subject to authorisation by firstly the Department of
Mining and secondly the Custom and Excise authorities. The Customs and Excise authorities have approved an
attributable $5m, which is still outstanding, whilst an attributable $6m is still subject to authorisation. The
accounting processes for the unauthorised amount are in accordance with the processes advised by the Malian
government in terms of the previous authorisations. As from February 2006 all fuel duties have been exonerated.

The government of Mali is a shareholder in all the Malian entities and has provided a repayment plan for the
amounts due.

There is a concentration of risk in respect of reimbursable value added tax and fuel duties from the Tanzanian
government:

• Reimbursable value added tax due from the Tanzanian government, for the company amounts to $14m at

31 December 2006 (30 September 2006: $14m). The last audited value added tax return was for the period
ended 31 May 2006 and at the balance sheet date $9m was still outstanding and $5m is still subject to audit. The
accounting processes for the unaudited amount are in accordance with the processes advised by the Tanzanian
government in terms of the previous audits.

• Reimbursable fuel duties from the Tanzanian government, for the company amount to $18m at 31 December

2006 (30 September 2006: $11m). Fuel duty claims are required to be submitted after consumption of the related
fuel and are subject to authorisation by the Customs and Excise authorities. Claims for refund of fuel duties
amounting to $12m have been lodged with the Customs and Excise authorities, which are still outstanding, whilst
claims for refund of $6m have not yet been submitted. The accounting processes for the unauthorised amount
are in accordance with the processes advised by the Tanzanian government in terms of the previous
authorisations.

17. Attributable interest

Although AngloGold Ashanti holds a 66.7% interest in Cripple Creek & Victor Gold Mining Company Limited, it is
currently entitled to receive 100% of the cash flows from the operation until the loan, extended to the joint venture by
AngloGold Ashanti USA Inc., is repaid.

18. Borrowings

AngloGold Ashanti's borrowings are interest bearing.

19. Change in comparative data

AngloGold Ashanti has, as a result of further guidance on materiality assessment published in the United States of
America, decided to assess materiality on a combination of two methods, because it will result in a more accurate
assessment of materiality on both the balance sheet and the income statement.

In previous periods, AngloGold Ashanti used the “roll over” method to assess materiality for potential adjustments.
The roll over method quantifies a misstatement based on the amount of the error originating in the current year
income statement but it ignores the “carryover effects” of prior year misstatements. This can result in accumulation of
significant misstatements on the balance sheet. The alternative to the roll over method, the iron curtain method,
quantifies a misstatement based on the effects of correcting the misstatement existing on the balance sheet,
irrespective of the year of occurrence.

As a result of the revised assessment criteria, AngloGold Ashanti identified an adjustment necessary to the balance
sheet, principally to trade and other payables and deferred income. The adjustment, due to an accumulation over
several years of immaterial amounts in the income statement, has been accounted for retrospectively, and the
comparative statements for 2005 have been restated.

The effect of the change on 2005 is as tabulated below. Opening retained earnings for 2005 have been reduced by
$11m, R76m which is the amount of the adjustment relating to periods prior to 2005. The net effect on the income
statement was $1m, R7m.

Figures in million

SA Rands

US Dollars

Income statement
Reduction in cost of sales

Reduction in taxation

(4)

(1)

Effect on profit attributable to equity shareholders

Balance sheet
Assets
Increase in tangible assets

Increase in inventories

Decrease in trade and other receivables

(36)

(5)

Figures in million

SA Rands

US Dollars

Liabilities
Decrease in deferred taxation

(33)

(5)

Increase in trade, other payables and deferred income

102

Retained earnings
Decrease in retained earnings

(76)

(11)

There are no cash flow effects

20. Announcements

On 11 December 2006, shareholders in general meeting approved the creation of E ordinary shares and the
implementation of an Employee Share Ownership Plan (ESOP) to be introduced at its operations in South Africa. In
addition, shareholders approved a Black Economic Empowerment transaction as well as the introduction of an ESOP in
countries outside of South Africa. This follows the announcement made on the 2 October 2006, in which AngloGold
Ashanti advised the imminent finalisation of an employee share ownership plan with the National Union of Mineworkers,
Solidarity, United Association and Izingwe Holdings (Proprietary) Limited.

21. Dividend

The directors have today declared Final Dividend No. 101 of 240 (Final Dividend No. 99: 62) South African cents per
ordinary share for the year ended 31 December 2006. In compliance with the requirements of STRATE, given the
company's primary listing on the JSE Limited, the salient dates for payment of the dividend are as follows:

To holders of ordinary shares and to holders of CHESS Depositary Interests (CDIs)
Each CDI represents one-fifth of an ordinary share.

2007

Currency conversion date for UK pounds, Australian dollars and Ghanaian cedis

Thursday, 1 March

Last date to trade ordinary shares cum dividend

Friday, 2 March

Last date to register transfers of certificated securities cum dividend

Friday, 2 March

Ordinary shares trade ex dividend

Monday, 5 March

Record date

Friday, 9 March

Payment date

Friday, 16 March

On the payment date, dividends due to holders of certificated securities on the South African share register will either
be electronically transferred to shareholders' bank accounts or, in the absence of suitable mandates, dividend
cheques will be posted to such shareholders.

Dividends in respect of dematerialised shareholdings will be credited to shareholders' accounts with the relevant
CSDP or broker.

To comply with the further requirements of STRATE, between Monday, 5 March 2007 and Friday, 9 March 2007,
both days inclusive, no transfers between the South African, United Kingdom, Australian and Ghana share registers
will be permitted and no ordinary shares pertaining to the South African share register may be dematerialised or
rematerialised.

To holders of American Depositary Shares
Each American Depositary Share (ADS) represents one ordinary share.

2007

Ex dividend on New York Stock Exchange

Wednesday, 7 March

Record date

Friday, 9 March

Approximate date for currency conversion

Friday, 16 March

Approximate payment date of dividend

Monday, 26 March

Assuming an exchange rate of R7.19/$1, the dividend payable on an ADS is equivalent to 33.37 US cents. This
compares with the final dividend of 9.865 US cents per ADS paid on 20 March 2006. However, the actual rate of
payment will depend on the exchange rate on the date for currency conversion.

To holders of Ghanaian Depositary Shares (GhDSs)
100 GhDSs represent one ordinary share.

2007

Last date to trade and to register GhDSs cum dividend

Friday, 2 March

GhDSs trade ex dividend

Monday, 5 March

Record date

Friday, 9 March

Approximate payment date of dividend

Monday, 19 March

Assuming an exchange rate of R1/¢1,289.291 the dividend payable per GhDS is equivalent to 30.94 cedis. This
compares with the final dividend of 9.20018cedis per GhDS paid on 13 March 2006. However, the actual rate of
payment will depend on the exchange rate on the date for currency conversion. In Ghana, the authorities have
determined that dividends payable to residents on the Ghana share register be subject to a final withholding tax at a
rate of 10%, similar to the rate applicable to dividend payments made by resident companies which is currently at
10%.

In addition, directors have today declared Dividend No. E1 of 120 South African cents per E ordinary share, payable
to employees participating in the Bokamoso ESOP and Izingwe Holdings (Proprietary) Limited. These dividends are
payable on Friday, 16 March 2007.

By order of the Board

R P EDEY

R M GODSELL

Chairman

Chief Executive Officer

12 February 2007

Segmental

reporting

for the quarter and year ended 31 December 2006

Quarter

Year

Quarter

Year

ended

December

September

December

September

December

2006

2005

2006

2005

2006

2005

2006

2005

Unaudited

Gold income
South Africa

2,390

2,640

1,926

9,151

7,359

326

370

295

1,347

1,153

Argentina

175

221

173

841

617

125

Australia

623

454

287

1,851

1,349

271

213

Brazil

465

422

312

1,558

1,094

228

172

Ghana

453

484

516

1,781

1,821

263

286

Guinea

331

217

206

960

759

141

118

Mali

574

583

435

2,146

1,508

317

236

Namibia

100

336

230

Tanzania

257

181

266

857

1,352

127

214

USA

286

156

147

656

661

104

5,634

5,459

4,337

20,137

16,750

770

763

665

2,964

2,629

Gross profit (loss) adjusted for
the effect of unrealised non-
hedge derivatives

South Africa

872

1,106

548

3,746

1,480

118

155

549

230

Argentina

(12)

245

203

(2)

Australia

308

251

934

288

137

Brazil

329

258

147

946

543

138

Ghana

(108)

(70)

(107)

(186)

(191)

(15)

(10)

(16)

(26)

(29)

Guinea

(19)

(18)

(2)

(2)

Mali

287

250

137

986

443

146

Namibia

148

Tanzania

(2)

(51)

(19)

(7)

(2)

USA

167

167

107

Other

105

146

(67)

221

(85)

(11)

(15)

1,959

2,020

881

7,207

2,999

269

283

136

1,058

470

Cash gross profit (loss)

South Africa

1,382

1,484

910

5,366

2,562

188

208

139

788

399

Argentina

134

465

354

Australia

391

315

1,179

494

173

Brazil

399

304

187

1,136

687

165

108

Ghana

396

249

Guinea

282

258

Mali

364

342

209

1,274

732

188

115

Namibia

192

110

Tanzania

246

289

USA

226

432

363

Other

105

162

(45)

268

(13)

(6)

(2)

3,158

3,041

1,746

11,236

6,085

434

426

269

1,652

955

Rounding of figures may results in computational discrepancies.

Based on risks and returns the directors consider that the primary reporting format is by business segment. The directors consider that there is only one business
segment being mining, extraction and production of gold. Therefore the disclosures for the primary segment have already been given in the abbreviated financial
statements. The secondary reporting format is by geographical analysis by origin.

Gross profit (loss) adjusted for the effect of unrealised non-hedge derivatives plus amortisation of tangible and intangible assets, less non-cash revenues. Refer to note F of "Non-GAAP

disclosure" for the definition.

SA Rand million

US Dollar million

Segmental

reporting (continued)

Quarter

Year

Quarter

Year

ended

December

September

December

September

December

2006

2005

2006

2005

2006

2005

2006

2005

Unaudited

Gold production
South Africa

20,019

20,296

20,818

79,427

83,223

644

653

669

2,554

2,676

Argentina

1,346

1,702

1,577

6,683

6,564

215

211

Australia

4,746

3,366

2,866

14,450

14,139

153

108

465

455

Brazil

2,904

2,858

2,808

10,551

10,756

339

346

Ghana

4,411

4,540

5,256

18,399

21,170

142

146

169

592

680

Guinea

2,406

1,940

1,936

7,948

7,674

256

246

Mali

4,110

4,029

4,112

16,700

16,421

132

130

132

537

528

Namibia

617

711

696

2,690

2,510

Tanzania

2,478

2,280

3,730

9,588

19,074

120

308

613

USA

2,661

2,143

2,659

8,817

10,252

283

330

45,697

43,864

46,460

175,253

191,783

1,469

1,410

1,494

5,635

6,166

Quarter

Year

Quarter

Year

ended

December

September

December

September

December

2006

2005

2006

2005

2006

2005

2006

2005

Unaudited

Capital expenditure
South Africa

695

543

651

2,116

2,208

100

313

347

Argentina

129

Australia

295

162

584

244

Brazil

333

396

204

1,258

544

186

Ghana

236

153

208

656

574

Guinea

110

229

Mali

Namibia

Tanzania

119

198

452

496

USA

Other

1,861

1,542

1,283

5,533

4,600

260

220

197

817

722

As at

December

September

December

September

December

2006

2005

2006

2005

Restated

Unaudited

Total assets
South Africa

15,402

15,867

15,563

2,200

2,044

2,453

Argentina

1,876

2,186

1,635

268

282

258

Australia

6,447

6,606

4,742

921

851

747

Brazil

3,961

4,176

2,449

566

538

386

Ghana

12,456

13,886

11,437

1,779

1,789

1,802

Guinea

1,974

2,092

1,734

282

269

273

Mali

2,350

2,508

2,007

336

323

316

Namibia

424

408

289

Tanzania

9,642

10,551

7,925

1,377

1,359

1,249

USA

3,566

3,864

2,730

509

498

430

Other

4,537

3,366

2,104

647

434

333

62,635

65,510

52,615

8,946

8,438

8,293

Rounding of figures may results in computational discrepancies.

SA Rand million

US Dollar million

oz (000)

SA Rand million

US Dollar million

Non-GAAP

disclosure

Dec

Sep

Dec

Sep

Dec

2006

2005

2006

2005

2006

2005

2006

2005

Restated

Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited

Headline (loss) earnings (note 8)

(150)

1,471

(1,091)

(838)

(716)

(103)

268

(170)

(80)

(97)

Unrealised non-hedge derivatives loss (note C)

320

1,210

4,507

1,900

137

(65)

191

615

286

Deferred tax on unrealised non-hedge derivatives (note 6)

(37)

(77)

(133)

(742)

(128)

(15)

(3)

(21)

(106)

(21)

Fair value adjustment on option component of convertible
bond

210

(421)

271

(137)

211

(58)

(16)

Fair value loss on interest rate swap

Headline earnings before unrealised non-hedge derivatives,
fair value adjustments on convertible bond and interest rate
swaps

(2)

343

1,011

257

2,790

1,272

141

413

201

Cents per share

(1)

Headline earnings adjusted for the effect of unrealised non-
hedge derivatives, fair value adjustments on convertible bond
and interest rate swaps

(2)

124

367

1,022

481

151

Dec

Sep

Dec

Sep

Dec

2006

2005

2006

2005

2006

2005

2006

2005

Restated

Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited

Reconciliation of gross profit (loss) to gross profit adjusted for
the effect of unrealised non-hedge derivatives:

Gross profit (loss)

1,639

1,981

(329)

2,700

1,099

133

349

(55)

443

185

Unrealised non-hedge derivatives (note C)

320

1,210

4,507

1,900

137

(65)

191

615

286

Gross profit adjusted for the effect of unrealised non-hedge
derivatives

1,959

2,020

881

7,207

2,999

269

283

136

1,058

470

Rounding of figures may results in computational discrepancies.

SA Rand million

US Dollar million

From time to time AngloGold Ashanti may publicly disclose certain "non-GAAP" financial measures in the course of our financial presentations, earnings releases, earnings
conference calls and otherwise.

The group utilises certain non-GAAP performance measures and ratios in managing our business and may provide users of this financial information with additional meaningful
comparisons between current results and results in prior operating periods. Non-GAAP financial measures should be viewed in addition to, and not as an alternative for, the
reported operating results or cash flow from operations or any other measure of performance prepared in accordance with GAAP. In addition, the presentation of these measures
may not be comparable to similarly titled measures other companies use.

Headline earnings adjusted for the effect of unrealised non-hedge derivatives, fair value adjustments on convertible bond and interest rate swaps

Year ended

Quarter ended

(1)

Calculated on the basic weighted average number of ordinary shares.

(2)

Non-hedge derivatives in the income statement comprise the change in fair value of all non-hedge derivatives as follows:

- Open positions: The change in fair value from the previous reporting date or date of recognition (if later) through to the current reporting date; and
- Settled positions: The change in fair value from the previous reporting date or date of recognition (if later) through to the date of settlement.

Headline earnings adjusted for the effect of unrealised non-hedge derivatives, fair value adjustments on convertible bond and interest rate swaps, is intended to illustrate
earnings after adjusting for:

- The unrealised fair value change in contracts that are still open at the reporting date, as well as, the unwinding of the historic marked-to-market value of the
position settled in the period; and

- Investment in hedge restructure transaction: During the hedge restructure in the quarters ended 31 December 2004 and 31 March, 2005, $83m and $69m in cash
was injected into the hedge book to increase the value of long-dated contracts. This investment in long-dated derivatives (all of which have not yet matured), for the
purposes of the adjustment to earnings, will only be taken into account when the long-dated contracts are settled; and

- The unrealised fair value change on the option component of the convertible bond; and

SA Rand million

US Dollar million

- The unrealised fair value change on the onerous uranium contracts

Quarter ended

Gross profit adjusted for the effect of unrealised non-hedge derivatives

Year ended

Quarter ended

Dec

Sep

Dec

Sep

Dec

2006

2005

2006

2005

2006

2005

2006

2005

Restated

Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited

Non-hedge derivative gain (loss) is summarised as

Realised non-hedge derivative gain

802

549

462

2,552

951

112

376

151

Unrealised non-hedge derivative (loss) gain

(320)

(39)

(1,210)

(4,507)

(1,900)

(137)

(191)

(615)

(286)

Non-hedge derivative gain (loss) per income statement

482

510

(748)

(1,955)

(949)

(25)

143

(120)

(239)

(135)

Price received

Gold income per income statement

5,634

5,459

4,337

20,137

16,750

770

763

665

2,964

2,629

Adjusted for minority interests

(215)

(214)

(165)

(804)

(566)

(29)

(29)

(25)

(119)

(89)

5,419

5,245

4,173

19,333

16,184

741

734

640

2,845

2,540

Realised non-hedge derivatives (note C)

802

549

462

2,552

951

112

376

151

6,221

5,794

4,634

21,885

17,135

853

811

711

3,221

2,691

Attributable gold sold - kg / - oz (000)

45,866

43,185

46,445

173,639

190,767

1,475

1,388

1,493

5,583

6,133

Revenue price per unit - R/kg / - $/oz

135,628

134,176

99,780

126,038

89,819

578

584

476

577

439

Total costs

Total cash costs (note 3)

3,303

3,075

2,781

11,839

11,229

452

429

426

1,746

1,766

Adjusted for minority interests and non-gold producing
companies

(69)

(73)

(208)

(10)

(11)

(33)

Total cash costs adjusted for minority interests and non-
gold producing companies

3,309

3,136

2,712

11,766

11,021

453

438

416

1,735

1,733

Retrenchment costs (note 3)

114

152

168

Rehabilitation and other non-cash costs (note 3)

(122)

207

(35)

368

(17)

(3)

Amortisation of tangible assets (note 3)

1,215

1,034

900

4,059

3,203

167

144

138

597

503

Amortisation of intangible assets (note 3)

Adjusted for minority interests and non-gold producing
companies

(35)

(32)

(34)

(122)

(102)

(4)

(4)

(5)

(18)

(16)

Total production costs adjusted for minority interests
and non-gold producing companies

4,485

4,179

3,850

15,833

14,671

615

584

590

2,335

2,305

Gold produced - kg / - oz (000)

45,697

43,864

46,460

175,253

191,783

1,469

1,410

1,494

5,635

6,166

Total cash cost per unit - R/kg / -$/oz

72,422

71,495

58,367

67,133

57,465

309

311

278

308

281

Total production cost per unit - R/kg / -$/oz

98,145

95,267

82,873

90,345

76,495

419

414

395

414

374

Cash gross profit

Gross profit adjusted for the effect of unrealised non-hedge
derivatives (note B)

1,959

2,020

881

7,207

2,999

269

283

136

1,058

470

Amortisation of tangible assets (note 3)

1,215

1,034

900

4,059

3,203

167

144

138

597

503

Amortisation of intangible assets (note 3)

Non-cash revenues

(20)

(16)

(39)

(43)

(130)

(3)

(2)

(6)

(5)

(20)

3,158

3,041

1,746

11,236

6,085

434

426

269

1,652

955

EBITDA

Operating profit (loss) per income statement

1,193

1,628

(967)

1,349

(309)

300

(153)

246

(34)

Amortisation of tangible assets (note 3)

1,215

1,034

900

4,059

3,203

167

144

138

597

503

Amortisation of intangible assets (note 3)

Impairment of tangible assets (note 5)

255

300

Impairment of intangible assets (note 5)

125

Unrealised non-hedge derivatives (note C)

320

1,210

4,507

1,900

137

(65)

191

615

286

Share of associates' EBITDA

(2)

(3)

(2)

(5)

(1)

Profit on disposal of assets (note 5)

(321)

(5)

(22)

(378)

(40)

(46)

(1)

(3)

(54)

(5)

Abandonment of assets at Malian operations

2,456

2,698

1,532

9,592

5,218

336

378

236

1,411

820

Rounding of figures may results in computational discrepancies.

SA Rand million / Metric

US Dollar million / Imperial

Quarter ended

Year ended

Quarter ended

Year ended

Dec

Sep

Dec

Sep

Dec

2006

2005

2006

2005

2006

2005

2006

2005

Restated

Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited

Interest cover

EBITDA (note G)

2,456

2,698

1,532

9,592

5,218

336

378

236

1,411

820

Finance costs per income statement

246

157

216

822

690

123

108

Capitalised finance costs

102

270

176

236

893

792

133

124

Interest cover - times

9.10

15.33

6.49

10.74

6.59

9.08

15.12

6.56

10.61

6.61

Free cash flow

Net cash inflow from operating activities per cash flow

2,077

2,338

1,118

7,830

3,892

276

324

171

1,138

612

Stay-in-business capital expenditure

(1,144)

(952)

(779)

(3,416)

(2,879)

(160)

(136)

(119)

(504)

(452)

933

1,386

339

4,414

1,013

116

188

634

160

As at

Dec

Sep

Dec

Sep

Dec

2006

2005

2006

2005

Restated

Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited

Net asset value - cents per share

Total equity per balance sheet

21,331

22,592

16,882

3,047

2,910

2,662

Number of ordinary shares in issue - millions (note 9)

280

275

265

280

275

265

Net asset value - cents per share

7,607

8,208

6,372

1,087

1,057

1,005

Total equity per balance sheet

21,331

22,592

16,882

3,047

2,910

2,662

Intangible assets per balance sheet

(2,909)

(3,137)

(2,533)

(415)

(404)

(399)

18,422

19,455

14,349

2,632

2,506

2,263

Number of ordinary shares in issue - millions (note 9)

280

275

265

280

275

265

Net tangible asset value - cents per share

6,569

7,068

5,416

939

910

854

Net debt

Borrowings - long-term portion per balance sheet

9,963

10,497

10,825

1,423

1,352

1,706

Borrowings - short-term portion per balance sheet

413

290

1,190

188

Total borrowings

10,376

10,787

12,015

1,482

1,389

1,894

Cash and cash equivalents per balance sheet

(3,467)

(2,871)

(1,328)

(495)

(370)

(209)

Net debt

6,909

7,916

10,687

987

1,019

1,685

Rounding of figures may results in computational discrepancies.

SA Rand million

US Dollar million

SA Rand million / Metric

US Dollar million / Imperial

Quarter ended

Year ended

Quarter ended

Year ended

Key

operating results

PER REGION & OPERATION

Quarter

Year

Quarter

Year

ended

December

September

December

September

December

2006

2005

2006

2005

SA Rand / US Dollar

SOUTH AFRICA

695

543

2,116

2,208

313

347

Vaal River
Great Noligwa

136

332

275

Kopanang

101

281

264

Moab Khotsong

169

147

565

600

Tau Lekoa

Surface Operations

170

West Wits
Mponeng

111

325

301

Savuka

TauTona

142

124

475

468

ARGENTINA

129

Cerro Vanguardia - Attributable 92.50%

119

Minorities and exploration

AUSTRALIA

295

162

584

244

Sunrise Dam

163

214

Boddington

258

104

408

Exploration

BRAZIL

333

396

1,258

544

186

AngloGold Ashanti Brasil Mineração

300

362

1,134

459

168

Serra Grande - Attributable 50%

Minorities, exploration and other

GHANA

236

153

656

574

Bibiani

Iduapriem - Attributable 85%

Obuasi

216

140

613

495

Minorities and exploration

GUINEA

110

229

Siguiri - Attributable 85%

194

Minorities and exploration

MALI

Morila - Attributable 40%

Sadiola - Attributable 38%

Yatela - Attributable 40%

NAMIBIA

Navachab

TANZANIA

119

198

452

496

Geita

119

198

452

496

USA

Cripple Creek & Victor J.V.

OTHER

ANGLOGOLD ASHANTI

1,861

1,542

5,533

4,600

260

220

817

722

Rounding of figures may results in computational discrepancies.

Capital expenditure - Rm

Capital expenditure - $m

Development

for the quarter ended 31 December 2006

Statistics are shown in metric units

Advanced

metres

Sampled

Ave. channel

(total)

metres

width (cm)

Ave. g/t

Ave. cm.g/t

Ave. kg/t

Ave. cm.kg/t

VAAL RIVER
Great Noligwa
Vaal reef

3,433

434

137.3

25.63

3,519

1.27

174.36

Kopanang
Vaal reef

6,912

704

15.3

219.22

3,354

17.69

270.68

Tau Lekoa
Ventersdorp Contact reef

1,816

358

67.0

16.70

1,119

Moab Khotsong
Vaal reef

4,748

126.0

14.63

1,843

1.26

159.00

WEST WITS
TauTona
Ventersdorp Contact reef

207

Carbon Leader reef

2,726

12.3

45.85

564

0.66

8.11

Savuka
Ventersdorp Contact reef

Carbon Leader reef

214

Mponeng
Ventersdorp Contact reef

4,469

774

80.1

19.79

1,585

AUSTRALIA
Sunrise Dam

990

5.20

BRAZIL
AngloGold Ashanti Brasil Mineração
Mine de Cuiabá

1,706

235

61.8

4.68

Córrego do Sitio

244

113

16.06

Lamego

635

3.80

Serra Grande
Mina Ill

1,075

309

100.0

7.51

Mina Nova

127

GHANA
Obuasi

6,547

2,045

510.0 *

8.91

4,544

Statistics are shown in imperial units

Advanced

feet

Sampled

Ave. channel

(total)

feet

width (inches)

Ave. oz/t

Ave. ft.oz/t

Ave. lb/t

Ave. ft.lb/t

VAAL RIVER
Great Noligwa
Vaal reef

11,262

1,424

54.1

0.75

3.37

2.54

11.44

Kopanang
Vaal reef

22,678

2,310

6.0

6.39

3.21

35.38

17.76

Tau Lekoa
Ventersdorp Contact reef

5,959

1,175

26.4

0.49

1.07

Moab Khotsong
Vaal reef

15,577

289

49.6

0.43

1.76

2.52

10.42

WEST WITS
TauTona
Ventersdorp Contact reef

679

Carbon Leader reef

8,943

249

4.8

1.34

0.54

1.32

0.53

Savuka
Ventersdorp Contact reef

Carbon Leader reef

702

Mponeng
Ventersdorp Contact reef

14,662

2,539

31.5

0.58

1.52

AUSTRALIA

Sunrise Dam

3,248

0.15

BRAZIL
AngloGold Ashanti Brasil Mineração
Mina de Cuiabá

5,598

770

24.3

0.14

Córrego do Sitio

801

370

0.47

Lamego

2,082

238

0.11

Serra Grande
Mina Ill

3,527

1,014

39.4

0.22

Mina Nova

417

GHANA
Obuasi

21,479

6,708

200.8 *

0.26

4.35

* Average ore body width

Sampled

gold

uranium

Development values represent actual results of sampling, no allowances having been made for adjustments necessary in estimating ore reserves.

Sampled

gold

uranium

Key

operating results

PER REGION & OPERATION

Quarter

Year

Quarter

Year

ended

December

September

December

September

December

2006

2005

2006

2005

Metric

SOUTH AFRICA

20,019

20,296

79,427

83,223

Vaal River
Great Noligwa

7.95

7.72

8.08

9.30

4,640

4,699

19,119

21,547

Kopanang

7.40

6.63

7.01

7.38

3,657

3,448

13,886

14,993

Moab Khotsong

6.36

5.43

6.35

411

329

1,371

Tau Lekoa

4.34

3.59

3.76

3.96

1,387

1,358

5,473

8,253

Surface Operations

0.57

0.44

0.49

0.51

1,072

819

3,525

2,952

West Wits
Mponeng

9.69

9.83

9.93

9.15

4,595

4,832

18,549

15,921

Savuka

7.31

8.44

7.68

6.80

654

808

2,768

3,930

TauTona

11.46

10.51

10.18

9.62

3,604

4,000

14,736

15,627

ARGENTINA

1,346

1,702

6,683

6,564

Cerro Vanguardia - Attributable 92.50%

5.51

7.00

7.29

7.70

1,346

1,702

6,683

6,564

AUSTRALIA

4,746

3,366

14,450

14,139

Sunrise Dam

4.20

3.10

3.39

3.68

4,746

3,366

14,450

14,139

BRAZIL

2,904

2,858

10,551

10,756

AngloGold Ashanti Brasil Mineração

7.97

7.13

7.60

7.27

2,156

2,098

7,533

7,763

Serra Grande - Attributable 50%

7.69

7.29

7.51

7.93

747

760

3,017

2,993

GHANA

4,411

4,540

18,399

21,170

Bibiani

0.43

0.44

0.55

150

263

1,163

3,578

Iduapriem

- Attributable 85%

1.70

1.73

1.74

1.71

1,219

1,360

5,196

5,422

Obuasi

4.61

4.05

4.39

4.77

3,041

2,916

12,040

12,169

GUINEA

2,406

1,940

7,948

7,674

Siguiri

- Attributable 85%

1.08

1.09

1.08

1.21

2,406

1,940

7,948

7,674

MALI

4,110

4,029

16,700

16,421

Morila - Attributable 40%

3.46

3.85

3.88

5.41

1,503

1,551

6,428

8,139

Sadiola - Attributable 38%

3.44

2.85

3.22

2.73

1,546

1,430

5,898

5,223

Yatela

- Attributable 40%

3.88

2.97

4.12

2.99

1,061

1,048

4,374

3,060

NAMIBIA

617

711

2,690

2,510

Navachab

1.63

1.72

1.81

2.05

617

711

2,690

2,510

TANZANIA

2,478

2,280

9,588

19,074

Geita

1.73

1.48

1.68

3.14

2,478

2,280

9,588

19,074

USA

2,661

2,143

8,817

10,252

Cripple Creek & Victor J.V.

0.48

0.65

0.54

0.62

2,661

2,143

8,817

10,252

ANGLOGOLD ASHANTI

45,697

43,864

175,253

191,783

Underground Operations

7.47

6.98

7.20

7.31

24,611

25,066

97,112

100,858

Surface and Dump Reclamation

0.52

0.46

0.50

0.52

1,569

1,497

6,246

4,228

Open-pit Operations

2.13

2.00

2.14

2.74

15,451

13,742

57,334

69,871

Heap Leach Operations

0.79

0.84

0.82

0.83

4,066

3,559

14,561

16,826

45,697

43,864

175,253

191,783

Yatela and Cripple Creek & Victor Joint Venture operations yield

reflects gold placed/tonnes placed.

The yield of Bibiani represents surface and dump reclamation.

Rounding of figures may results in computational discrepancies.

The yield of Sunrise Dam, Iduapriem and Siguiri represents open-pit operations.

Yield - g/t

Gold produced - kg

The yield is calculated on gold placed into leach pad inventory / tonnes placed on to

The yield of TauTona, AngloGold Ashanti Brasil Mineração and Obuasi represents underground

Key

operating results

PER REGION & OPERATION

Quarter

Year

Quarter

Year

ended

December

September

December

September

December

2006

2005

2006

2005

Metric

SOUTH AFRICA

262

268

259

252

20,307

20,232

78,914

83,212

Vaal River
Great Noligwa

234

243

244

266

4,642

4,768

18,998

21,544

Kopanang

241

229

227

240

3,655

3,481

13,790

14,991

Moab Khotsong

146

123

120

411

330

1,359

Tau Lekoa

167

164

154

168

1,390

1,366

5,440

8,252

Surface Operations

1,561

1,088

1,194

791

1,066

841

3,495

2,951

West Wits
Mponeng

330

342

333

283

4,746

4,731

18,430

15,919

Savuka

208

256

221

146

667

788

2,753

3,931

TauTona

290

326

302

310

3,729

3,928

14,649

15,624

ARGENTINA

723

962

938

900

1,325

1,605

6,619

6,422

Cerro Vanguardia - Attributable 92.50%

723

962

938

900

1,325

1,605

6,619

6,422

AUSTRALIA

2,443

2,232

2,363

2,776

4,899

3,194

14,413

14,123

Sunrise Dam

4,354

2,867

3,156

3,143

4,899

3,194

14,413

14,123

BRAZIL

626

640

602

692

2,775

2,771

10,655

10,347

AngloGold Ashanti Brasil Mineração

568

573

526

618

2,095

2,045

7,703

7,445

Serra Grande - Attributable 50%

887

945

946

999

681

725

2,952

2,902

GHANA

229

224

229

227

4,334

4,633

17,866

21,172

Bibiani

390

476

605

780

139

283

1,119

3,578

Iduapriem - Attributable 85%

568

648

619

635

1,112

1,434

5,027

5,423

Obuasi

181

165

172

152

3,082

2,916

11,719

12,171

GUINEA

619

494

508

592

2,402

1,755

7,758

7,674

Siguiri - Attributable 85%

619

494

508

592

2,402

1,755

7,758

7,674

MALI

1,286

1,297

1,333

1,946

3,972

4,097

16,285

16,450

Morila - Attributable 40%

1,132

1,178

1,221

3,097

1,554

1,520

6,234

8,148

Sadiola - Attributable 38%

1,350

1,339

1,347

1,719

1,369

1,498

5,722

5,250

Yatela - Attributable 40%

1,470

1,455

1,514

1,103

1,048

1,079

4,328

3,052

NAMIBIA

654

769

716

664

544

695

2,548

2,512

Navachab

654

769

716

664

544

695

2,548

2,512

TANZANIA

385

382

404

1,195

2,617

2,020

9,666

18,701

Geita

385

382

404

1,195

2,617

2,020

9,666

18,701

USA

2,740

2,151

2,260

2,728

2,692

2,183

8,915

10,154

Cripple Creek & Victor J.V.

2,740

2,151

2,260

2,728

2,692

2,183

8,915

10,154

ANGLOGOLD ASHANTI

372

360

358

376

45,866

43,185

173,639

190,767

Rounding of figures may results in computational discrepancies.

Productivity per employee - g

Gold sold - kg

Key

operating results

PER REGION & OPERATION

Quarter

Year

Quarter

Year

ended

December

September

December

September

December

2006

2005

2006

2005

SA Rand / Metric

SOUTH AFRICA

62,888

62,837

61,667

59,343

88,764

82,547

82,939

75,434

Vaal River
Great Noligwa

54,393

62,145

56,390

53,868

76,424

78,323

74,041

67,024

Kopanang

61,570

65,114

62,908

56,427

76,264

78,594

76,906

69,594

Moab Khotsong

116,485

153,993

141,574

234,471

246,929

240,384

Tau Lekoa

87,829

95,702

94,730

83,885

149,979

123,094

132,864

103,932

Surface Operations

55,607

72,723

61,154

58,636

60,852

81,457

68,692

58,636

West Wits
Mponeng

57,887

49,800

51,524

57,084

84,563

70,280

73,379

74,309

Savuka

79,339

67,618

72,865

87,200

76,223

74,723

77,752

105,194

TauTona

65,013

55,777

58,419

52,158

93,108

80,233

83,398

74,418

ARGENTINA

80,559

49,808

50,015

35,698

129,468

79,928

80,091

57,543

Cerro Vanguardia - Attributable 92.50%

79,547

49,170

49,358

35,035

128,229

79,097

79,269

56,756

AUSTRALIA

68,984

82,199

67,512

56,904

89,091

99,263

85,421

78,313

Sunrise Dam

68,640

80,232

65,877

54,924

86,512

98,305

82,908

74,065

BRAZIL

51,246

50,934

47,342

37,709

74,790

63,648

62,941

49,123

AngloGold Ashanti Brasil Mineração

45,050

47,496

42,816

34,619

68,934

59,868

58,713

46,446

Serra Grande - Attributable 50%

48,667

43,943

43,031

32,414

71,232

57,431

57,627

42,027

GHANA

98,675

90,249

85,168

69,504

141,474

128,858

121,453

97,018

Bibiani

121,324

163,285

95,581

62,273

(70,202)

197,243

98,495

98,650

Iduapriem - Attributable 85%

85,886

77,622

79,733

71,330

104,967

103,239

103,544

92,403

Obuasi

102,684

89,549

86,508

70,817

166,564

134,636

131,398

98,595

GUINEA

89,572

100,179

87,571

62,009

136,464

129,505

121,156

85,331

Siguiri - Attributable 85%

89,572

100,179

87,571

62,009

136,464

129,505

121,156

85,331

MALI

63,526

58,445

54,510

45,135

70,492

82,079

69,827

63,108

Morila - Attributable 40%

74,482

64,107

60,080

39,083

84,940

84,277

75,989

60,147

Sadiola - Attributable 38%

65,107

63,739

58,876

54,377

77,704

79,042

73,025

68,784

Yatela - Attributable 40%

51,776

53,712

49,469

53,754

45,489

93,736

65,402

69,469

NAMIBIA

70,764

58,677

57,716

65,300

96,078

74,494

75,801

66,354

Navachab

70,764

58,677

57,716

65,300

96,078

74,494

75,801

66,354

TANZANIA

138,524

124,644

109,639

61,182

143,291

163,321

130,792

79,377

Geita

138,524

124,644

109,639

61,182

143,291

163,321

130,792

79,377

USA

64,863

58,320

57,039

48,356

89,868

80,936

80,481

69,581

Cripple Creek & Victor J.V.

60,891

55,821

54,389

47,124

85,892

78,428

77,828

68,349

ANGLOGOLD ASHANTI

72,422

71,495

67,133

57,465

98,145

95,267

90,345

76,495

Rounding of figures may results in computational discrepancies.

Total cash costs - R/kg

Total production costs - R/kg

Key

operating results

PER REGION & OPERATION

Quarter

Year

Quarter

Year

ended

December

September

December

September

December

2006

2005

2006

2005

SOUTH AFRICA

1,382

1,484

5,366

2,562

872

1,106

3,746

1,480

Vaal River
Great Noligwa

356

350

1,373

768

256

281

1,055

556

Kopanang

255

246

926

476

201

204

744

347

Moab Khotsong

(6)

(20)

(43)

(36)

(148)

Tau Lekoa

175

(25)

(22)

(84)

Surface Operations

242

105

215

105

West Wits
Mponeng

354

414

1,467

553

224

318

1,063

318

Savuka

164

(6)

145

(46)

TauTona

236

318

1,039

607

147

224

693

284

ARGENTINA

134

465

354

(12)

245

203

Cerro Vanguardia - Attributable 92.50%

125

434

332

(10)

232

193

Minorities and exploration

(2)

AUSTRALIA

391

315

1,179

494

308

251

934

288

Sunrise Dam

391

315

1,179

494

308

251

934

288

BRAZIL

399

304

1,136

687

329

258

946

543

AngloGold Ashanti Brasil Mineração

265

188

695

389

231

163

596

304

Serra Grande - Attributable 50%

226

165

180

137

Minorities and exploration

215

133

170

102

GHANA

396

249

(108)

(70)

(186)

(191)

Bibiani

(7)

(13)

(66)

Iduapriem - Attributable 85%

158

(16)

Obuasi

(55)

131

165

(159)

(84)

(292)

(104)

Minorities and exploration

(5)

GUINEA

282

258

(19)

(18)

Siguiri - Attributable 85%

217

211

(23)

(22)

(5)

Minorities and exploration

MALI

364

342

1,274

732

287

250

986

443

Morila - Attributable 40%

122

127

466

413

354

245

Sadiola - Attributable 38%

116

122

418

205

334

131

Yatela - Attributable 40%

127

390

114

103

298

NAMIBIA

192

110

148

Navachab

192

110

148

TANZANIA

246

289

(2)

(51)

(19)

Geita

246

289

(2)

(51)

(19)

USA

226

432

363

167

107

Cripple Creek & Victor J.V.

226

432

363

167

107

OTHER

105

162

268

(13)

105

146

221

(85)

ANGLOGOLD ASHANTI

3,158

3,041

11,236

6,085

1,959

2,020

7,207

2,999

Gross profit (loss) adjusted for the effect of unrealised non-hedge derivatives plus amortisation of tangible and intangible assets, less non-cash revenues.

Rounding of figures may results in computational discrepancies.

SA Rand

Cash gross profit (loss) - Rm

Gross profit (loss) adjusted for the effect of unrealised non-

hedge derivatives - Rm

Key

operating results

PER REGION & OPERATION

Quarter

Year

Quarter

Year

ended

December

September

December

September

December

2006

2005

2006

2005

Imperial

SOUTH AFRICA

644

653

2,554

2,676

Vaal River
Great Noligwa

0.232

0.225

0.236

0.271

149

151

615

693

Kopanang

0.216

0.193

0.204

0.215

118

111

446

482

Moab Khotsong

0.185

0.158

0.185

Tau Lekoa

0.127

0.105

0.110

0.116

176

265

Surface Operations

0.016

0.013

0.014

0.015

113

West Wits
Mponeng

0.283

0.287

0.290

0.267

148

155

596

512

Savuka

0.213

0.246

0.224

0.198

126

TauTona

0.334

0.306

0.297

0.281

116

129

474

502

ARGENTINA

215

211

Cerro Vanguardia - Attributable 92.50%

0.161

0.204

0.213

0.225

215

211

AUSTRALIA

153

108

465

455

Sunrise Dam

0.123

0.090

0.099

0.107

153

108

465

455

BRAZIL

339

346

AngloGold Ashanti Brasil Mineração

0.232

0.208

0.222

0.212

242

250

Serra Grande - Attributable 50%

0.224

0.213

0.219

0.231

GHANA

142

146

592

680

Bibiani

0.013

0.016

115

Iduapriem

- Attributable 85%

0.049

0.051

0.050

167

174

Obuasi

0.134

0.118

0.128

0.139

387

391

GUINEA

256

246

Siguiri

- Attributable 85%

0.032

0.035

256

246

MALI

132

130

537

528

Morila - Attributable 40%

0.101

0.112

0.113

0.158

207

262

Sadiola - Attributable 38%

0.100

0.083

0.094

0.080

190

168

Yatela

- Attributable 40%

0.113

0.087

0.120

0.087

141

NAMIBIA

Navachab

0.048

0.050

0.053

0.060

TANZANIA

308

613

Geita

0.050

0.043

0.049

0.092

308

613

USA

283

330

Cripple Creek & Victor J.V.

0.014

0.019

0.016

0.018

283

330

ANGLOGOLD ASHANTI

1,469

1,410

5,635

6,166

Undergound operations

0.218

0.204

0.210

0.213

791

806

3,123

3,243

Surface and Dump Reclamation

0.015

0.013

0.015

201

136

Open-pit Operations

0.062

0.058

0.063

0.080

497

442

1,843

2,246

Heap leach Operations

0.023

0.024

131

114

468

541

1,469

1,410

5,635

6,166

Yatela and Cripple Creek & Victor Joint Venture operations yield

reflects gold placed/tonnes placed.

The yield of Bibiani represents surface and dump reclamation.

Rounding of figures may results in computational discrepancies.

The yield of Sunrise Dam, Iduapriem and Siguiri represents open-pit operations.

Yield - oz/t

Gold produced - oz (000)

The yield is calculated on gold placed into leach pad inventory / tonnes placed on to leach pad.

The yield of TauTona, AngloGold Ashanti Brasil Mineração and Obuasi represents underground

Key

operating results

PER REGION & OPERATION

Quarter

Year

Quarter

Year

ended

December

September

December

September

December

2006

2005

2006

2005

Imperial

SOUTH AFRICA

8.43

8.62

8.34

8.11

653

650

2,537

2,675

Vaal River
Great Noligwa

7.53

7.80

7.85

8.55

149

153

611

693

Kopanang

7.74

7.37

7.30

7.71

118

112

443

482

Moab Khotsong

4.68

3.95

3.86

Tau Lekoa

5.36

5.26

4.96

5.41

175

265

Surface Operations

50.20

35.00

38.40

25.44

112

West Wits
Mponeng

10.62

11.01

10.71

9.10

153

152

593

512

Savuka

6.68

8.24

7.11

4.70

126

TauTona

9.31

10.48

9.71

9.97

120

126

471

502

ARGENTINA

23.24

30.92

30.15

28.95

213

206

Cerro Vanguardia - Attributable 92.50%

23.24

30.92

30.15

28.95

213

206

AUSTRALIA

78.54

71.75

75.96

89.27

158

103

463

454

Sunrise Dam

140.00

92.18

101.48

101.06

158

103

463

454

BRAZIL

20.11

20.58

19.36

22.23

343

333

AngloGold Ashanti Brasil Mineração

18.25

18.42

16.90

19.88

248

239

Serra Grande - Attributable 50%

28.50

30.37

30.42

32.12

GHANA

7.35

7.19

7.35

7.31

139

149

574

681

Bibiani

12.54

15.30

19.46

25.09

115

Iduapriem - Attributable 85%

18.27

20.83

19.90

20.43

162

174

Obuasi

5.83

5.32

5.52

4.89

377

391

GUINEA

19.89

15.88

16.33

19.03

249

247

Siguiri - Attributable 85%

19.89

15.88

16.33

19.03

249

247

MALI

41.35

41.71

42.85

62.56

128

132

524

529

Morila - Attributable 40%

36.39

37.87

39.26

99.57

200

262

Sadiola - Attributable 38%

43.40

43.03

43.32

55.27

184

169

Yatela - Attributable 40%

47.25

46.78

48.69

35.48

139

NAMIBIA

21.04

24.71

23.03

21.36

Navachab

21.04

24.71

23.03

21.36

TANZANIA

12.38

12.27

12.98

38.41

311

601

Geita

12.38

12.27

12.98

38.41

311

601

USA

88.10

69.16

72.67

87.71

287

326

Cripple Creek & Victor J.V.

88.10

69.16

72.67

87.71

287

326

ANGLOGOLD ASHANTI

11.97

11.57

11.49

12.10

1,475

1,388

5,583

6,133

Rounding of figures may results in computational discrepancies.

Productivity per employee - oz

Gold sold - oz (000)

Key

operating results

PER REGION & OPERATION

Quarter

Year

Quarter

Year

ended

December

September

December

September

December

2006

2005

2006

2005

US Dollar / Imperial

SOUTH AFRICA

268

274

285

291

379

359

383

369

Vaal River
Great Noligwa

232

271

261

264

326

341

342

329

Kopanang

262

284

291

277

325

343

355

341

Moab Khotsong

498

669

655

1,006

1,073

1,107

Tau Lekoa

373

417

440

410

640

536

614

509

Surface Operations

237

317

281

287

259

355

316

287

West Wits
Mponeng

247

217

237

279

361

306

338

363

Savuka

339

294

336

430

324

325

359

517

TauTona

277

243

269

256

397

349

384

364

ARGENTINA

344

216

228

174

554

347

365

281

Cerro Vanguardia - Attributable 92.50%

340

213

225

171

549

343

361

277

AUSTRALIA

295

355

306

279

380

430

388

383

Sunrise Dam

293

346

298

269

369

425

376

363

BRAZIL

218

223

216

184

318

278

287

239

AngloGold Ashanti Brasil Mineração

192

207

195

169

293

260

266

226

Serra Grande - Attributable 50%

207

194

198

158

304

253

265

205

GHANA

420

392

390

339

604

559

557

473

Bibiani

508

704

437

305

(315)

853

464

482

Iduapriem - Attributable 85%

366

338

368

348

446

449

478

451

Obuasi

437

388

395

345

713

584

600

481

GUINEA

383

435

399

301

584

562

552

414

Siguiri - Attributable 85%

383

435

399

301

584

562

552

414

MALI

271

254

250

220

300

354

320

308

Morila - Attributable 40%

317

278

275

191

361

366

349

293

Sadiola - Attributable 38%

277

278

270

265

331

344

335

336

Yatela - Attributable 40%

222

234

228

263

195

398

299

340

NAMIBIA

303

255

265

321

412

324

348

326

Navachab

303

255

265

321

412

324

348

326

TANZANIA

586

540

497

298

605

706

595

387

Geita

586

540

497

298

605

706

595

387

USA

276

254

260

236

383

353

368

339

Cripple Creek & Victor J.V.

259

243

248

230

366

342

356

333

ANGLOGOLD ASHANTI

309

311

308

281

419

414

374

Rounding of figures may results in computational discrepancies.

Total cash costs - $/oz

Total production costs - $/oz

Key

operating results

PER REGION & OPERATION

Quarter

Year

Quarter

Year

ended

December

September

December

September

December

2006

2005

2006

2005

SOUTH AFRICA

188

208

788

399

118

155

549

230

Vaal River
Great Noligwa

203

120

156

Kopanang

136

109

Moab Khotsong

(0)

(1)

(3)

(6)

(5)

(22)

Tau Lekoa

(3)

(4)

(14)

Surface Operations

West Wits
Mponeng

216

156

Savuka

(1)

(8)

TauTona 32

152

101

ARGENTINA

(2)

Cerro Vanguardia - Attributable 92.50%

(1)

Minorities and exploration

(1)

AUSTRALIA

173

137

Sunrise Dam

173

137

BRAZIL

165

108

138

AngloGold Ashanti Brasil Mineração

101

Serra Grande - Attributable 50%

Minorities and exploration

GHANA

(15)

(10)

(26)

(29)

Bibiani

(1)

(2)

(10)

Iduapriem - Attributable 85%

(2)

Obuasi

(8)

(22)

(12)

(42)

(16)

Minorities and exploration

(1)

GUINEA

(2)

Siguiri - Attributable 85%

(3)

Minorities and exploration

MALI

188

115

146

Morila - Attributable 40%

Sadiola - Attributable 38%

Yatela - Attributable 40%

NAMIBIA

Navachab

TANZANIA

(7)

(2)

Geita

(7)

(2)

USA

Cripple Creek & Victor J.V.

OTHER

(2)

(15)

ANGLOGOLD ASHANTI

434

426

1,652

955

269

283

1,058

470

Rounding of figures may results in computational discrepancies.

US Dollar

Cash gross profit (loss) - $m

Gross profit (loss) adjusted for the effect of unrealised non-

hedge derivatives - $m

Gross profit (loss) adjusted for the effect of unrealised non-hedge derivatives plus amortisation of tangible and intangible assets, less non-cash revenues.

South Africa

VAAL RIVER

Quarter

Year

Quarter

Year

ended

December

September

December

September

December

2006

2005

2006

2005

2006

GREAT NOLIGWA
OPERATING RESULTS
UNDERGROUND OPERATION
Area mined

- 000 m

/ - 000 ft

104

395

1,062

1,068

1,116

4,252

Milled

- 000 tonnes / - 000 tons

584

608

617

2,365

644

671

681

2,607

Yield

- g/t

/ - oz/t

7.95

7.72

8.54

8.08

0.232

0.225

0.249

0.236

Gold produced

- kg

/ - oz (000)

4,640

4,699

5,274

19,119

149

151

170

615

Gold sold

- kg

/ oz (000)

4,642

4,768

5,270

18,998

149

153

169

611

Price received

- R/kg

/ - $/oz

- sold

131,409

137,043

102,524

129,696

559

599

488

597

Total cash costs

- R

/ - $

- ton milled

432

480

430

456

- R/kg

/ - $/oz

- produced

54,393

62,145

50,311

56,390

232

271

240

261

Total production costs

- R/kg

/ - $/oz

- produced

76,424

78,323

73,628

74,041

326

341

353

342

PRODUCTIVITY PER EMPLOYEE
Target

- g

/ - oz

280

282

302

280

9.01

9.07

9.72

8.99

Actual

- g

/ - oz

234

243

265

244

7.53

7.80

8.52

7.85

Target

- m

/ - ft

5.70

5.82

5.45

5.66

61.35

62.69

58.68

60.91

Actual

- m

/ - ft

4.98

5.12

5.21

5.05

53.61

55.16

56.04

54.31

FINANCIAL RESULTS (MILLION)
Gold income

546

623

488

2,197

325

Cost of sales

354

373

377

1,409

209

Cash operating costs

251

290

265

1,069

159

Other cash costs

Total cash costs

252

292

265

1,078

160

Retrenchment costs

Rehabilitation and other non-cash costs

(2)

Production costs

254

298

278

1,098

163

Amortisation of tangible assets

100

110

318

Inventory change

(12)

(7)

(2)

(1)

192

250

112

788

115

Realised non-hedge derivatives

267

Gross profit excluding the effect of unrealised non-hedge derivatives

256

281

164

1,055

156

Capital expenditure

136

124

332

Rounding of figures may results in computational discrepancies.

Rand / Metric

Dollar / Imperial

South Africa

VAAL RIVER

Quarter

Year

Quarter

Year

ended

December

September

December

September

December

2006

2005

2006

2005

2006

KOPANANG
OPERATING RESULTS
UNDERGROUND OPERATION
Area mined

- 000 m

/ - 000 ft

129

123

120

482

1,391

1,323

1,293

5,191

Milled

- 000 tonnes / - 000 tons

494

520

504

1,981

545

574

556

2,184

Yield

- g/t

/ - oz/t

7.40

6.63

7.27

7.01

0.216

0.193

0.212

0.204

Gold produced

- kg

/ - oz (000)

3,657

3,448

3,664

13,886

118

111

118

446

Gold sold

- kg

/ oz (000)

3,655

3,481

3,662

13,790

118

112

118

443

Price received

- R/kg

/ - $/oz

- sold

131,218

137,049

102,370

130,139

558

598

488

596

Total cash costs

- R

/ - $

- ton milled

455

432

402

441

- R/kg

/ - $/oz

- produced

61,570

65,114

55,227

62,908

262

284

263

291

Total production costs

- R/kg

/ - $/oz

- produced

76,264

78,594

70,300

76,906

325

343

335

355

PRODUCTIVITY PER EMPLOYEE
Target

- g

/ - oz

240

241

221

240

7.71

7.74

7.09

7.72

Actual

- g

/ - oz

241

229

239

227

7.74

7.37

7.70

7.30

Target

- m

/ - ft

7.75

7.78

7.09

7.75

83.40

83.76

76.32

83.45

Actual

- m

/ - ft

8.50

8.17

7.85

7.89

91.53

87.89

84.51

84.87

FINANCIAL RESULTS (MILLION)
Gold income

430

455

338

1,600

235

Cost of sales

279

273

257

1,051

156

Cash operating costs

224

223

202

866

129

Other cash costs

Total cash costs

225

202

874

130

Retrenchment costs

Rehabilitation and other non-cash costs

(3)

Production costs

224

229

213

885

131

Amortisation of tangible assets

183

Inventory change

(1)

(17)

(3)

151

182

549

Realised non-hedge derivatives

195

Gross profit excluding the effect of unrealised non-hedge derivatives

201

204

118

744

109

Capital expenditure

101

281

Rounding of figures may results in computational discrepancies.

Rand / Metric

Dollar / Imperial

South Africa

VAAL RIVER

Quarter

Year

Quarter

Year

ended

December

September

December

September

December

2006

2005

2006

2005

2006

MOAB KHOTSONG
OPERATING RESULTS
UNDERGROUND OPERATION
Area mined

- 000 m

/ - 000 ft

335

Milled

- 000 tonnes / - 000 tons

216

238

Yield

- g/t

/ - oz/t

6.36

5.43

6.35

0.185

0.158

0.185

Gold produced

- kg

/ - oz (000)

411

329

1,371

Gold sold

- kg

/ - oz (000)

411

330

1,359

Price received

- R/kg

/ - $/oz

- sold

131,193

137,141

130,860

558

595

596

Total cash costs

- R

/ - $

- ton milled

740

837

899

106

121

- R/kg

/ - $/oz

- produced

116,485

153,993

141,574

498

669

655

Total production costs

- R/kg

/ - $/oz

- produced

234,471

246,929

240,384

1,006

1,073

1,107

PRODUCTIVITY PER EMPLOYEE
Target

- g

/ - oz

162

138

127

5.21

4.44

4.09

Actual

- g

/ - oz

146

123

120

4.68

3.95

3.86

Target

- m

/ - ft

3.20

3.00

2.81

34.44

32.24

30.25

Actual

- m

/ - ft

3.13

3.18

2.73

33.71

34.26

29.34

FINANCIAL RESULTS (MILLION)
Gold income

158

Cost of sales

326

Cash operating costs

192

Other cash costs

Total cash costs

194

Retrenchment costs

Rehabilitation and other non-cash costs

Production costs

202

Amortisation of tangible assets

128

Inventory change

(4)

(1)

(48)

(39)

(168)

(7)

(5)

(25)

Realised non-hedge derivatives

Gross loss excluding the effect of unrealised non-hedge derivatives

(43)

(36)

(148)

(6)

(5)

(22)

Capital expenditure

169

147

142

565

Rounding of figures may results in computational discrepancies.

Rand / Metric

Dollar / Imperial

South Africa

VAAL RIVER

Quarter

Year

Quarter

Year

ended

December

September

December

September

December

2006

2005

2006

2005

2006

TAU LEKOA
OPERATING RESULTS
UNDERGROUND OPERATION
Area mined

- 000 m

/ - 000 ft

279

706

769

1,067

3,008

Milled

- 000 tonnes / - 000 tons

319

378

540

1,457

352

417

596

1,606

Yield

- g/t

/ - oz/t

4.34

3.59

3.52

3.76

0.127

0.105

0.103

0.110

Gold produced

- kg

/ - oz (000)

1,387

1,358

1,904

5,473

176

Gold sold

- kg

/ oz (000)

1,390

1,366

1,902

5,440

175

Price received

- R/kg

/ - $/oz

- sold

132,090

137,109

102,339

129,255

561

599

488

595

Total cash costs

- R

/ - $

- ton milled

382

344

326

356

- R/kg

/ - $/oz

- produced

87,829

95,702

92,559

94,730

373

417

441

440

Total production costs

- R/kg

/ - $/oz

- produced

149,979

123,094

119,704

132,864

640

536

571

614

PRODUCTIVITY PER EMPLOYEE
Target

- g

/ - oz

117

123

223

137

3.76

3.95

7.16

4.39

Actual

- g

/ - oz

167

164

156

154

5.36

5.26

5.01

4.96

Target

- m

/ - ft

5.44

5.64

9.71

6.31

58.60

60.70

104.55

67.94

Actual

- m

/ - ft

7.88

8.61

8.12

7.88

84.84

92.65

87.38

84.84

FINANCIAL RESULTS (MILLION)
Gold income

164

178

176

629

Cost of sales

208

168

225

725

108

Cash operating costs

121

129

176

515

Other cash costs

Total cash costs

122

130

176

518

Retrenchment costs

Rehabilitation and other non-cash costs

(2)

Production costs

125

133

178

530

Amortisation of tangible assets

197

Inventory change

(3)

(2)

(44)

(49)

(96)

(6)

(8)

(15)

Realised non-hedge derivatives

Gross (loss) profit excluding the effect of unrealised non-hedge derivatives

(25)

(30)

(22)

(3)

(5)

(4)

Capital expenditure

Rounding of figures may results in computational discrepancies.

Rand / Metric

Dollar / Imperial

South Africa

VAAL RIVER

Quarter

Year

Quarter

Year

ended

December

September

December

September

December

2006

2005

2006

2005

2006

SURFACE OPERATIONS
OPERATING RESULTS
Milled

- 000 tonnes / - 000 tons

1,895

1,856

1,442

7,183

2,089

2,045

1,589

7,918

Yield

- g/t

/ - oz/t

0.57

0.44

0.55

0.49

0.016

0.013

0.016

0.014

Gold produced

- kg

/ - oz (000)

1,072

819

800

3,525

113

Gold sold

- kg

/ - oz (000)

1,066

841

799

3,495

112

Price received

- R/kg

/ - $/oz

- sold

130,842

136,959

102,243

131,021

557

598

487

598

Total cash costs

- R

/ - $

- ton milled

- R/kg

/ - $/oz

- produced

55,607

72,723

51,135

61,154

237

317

244

281

Total production costs

- R/kg

/ - $/oz

- produced

60,852

81,457

51,135

68,692

259

355

244

316

PRODUCTIVITY PER EMPLOYEE
Target

- g

/ - oz

1,166

1,143

733

1,056

37.48

36.74

23.57

33.96

Actual

- g

/ - oz

1,561

1,088

956

1,194

50.20

35.00

30.74

38.40

FINANCIAL RESULTS (MILLION)
Gold income

125

110

406

Cost of sales

243

Cash operating costs

216

Other cash costs

Total cash costs

216

Retrenchment costs

Rehabilitation and other non-cash costs

Production costs

216

Amortisation of tangible assets

Inventory change

(1)

164

Realised non-hedge derivatives

Gross profit excluding the effect of unrealised non-hedge derivatives

215

Capital expenditure

Rounding of figures may results in computational discrepancies.

Rand / Metric

Dollar / Imperial

South Africa

WEST WITS

Quarter

Year

Quarter

Year

ended

December

September

December

September

December

2006

2005

2006

2005

2006

MPONENG
OPERATING RESULTS
UNDERGROUND OPERATION
Area mined

- 000 m

/ - 000 ft

368

1,003

1,063

1,000

3,962

Milled

- 000 tonnes / - 000 tons

474

491

454

1,867

523

542

500

2,058

Yield

- g/t

/ - oz/t

9.69

9.83

9.77

9.93

0.283

0.287

0.285

0.290

Gold produced

- kg

/ - oz (000)

4,595

4,832

4,436

18,549

148

155

143

596

Gold sold

- kg

/ - oz (000)

4,746

4,731

4,433

18,430

153

152

143

593

Price received

- R/kg

/ - $/oz

- sold

131,041

137,383

101,950

130,141

556

597

486

596

Total cash costs

- R

/ - $

- ton milled

561

490

507

512

- R/kg

/ - $/oz

- produced

57,887

49,800

51,902

51,524

247

217

247

237

Total production costs

- R/kg

/ - $/oz

- produced

84,563

70,280

64,155

73,379

361

306

305

338

PRODUCTIVITY PER EMPLOYEE
Target

- g

/ - oz

299

297

281

292

9.61

9.54

9.02

9.37

Actual

- g

/ - oz

330

342

318

333

10.62

11.01

10.22

10.71

Target

- m

/ - ft

6.36

6.41

5.90

6.23

68.41

68.95

63.52

67.09

Actual

- m

/ - ft

6.70

7.00

6.65

6.61

72.10

75.33

71.61

71.15

FINANCIAL RESULTS (MILLION)
Gold income

558

616

410

2,136

314

Cost of sales

398

332

290

1,335

197

Cash operating costs

264

239

230

947

140

Other cash costs

Total cash costs

266

241

230

956

142

Retrenchment costs

Rehabilitation costs

(8)

(2)

(5)

(1)

Production costs

259

243

235

957

142

Amortisation of tangible assets

129

404

Inventory change

(7)

(26)

(1)

(5)

161

284

120

801

117

Realised non-hedge derivatives

262

Gross profit excluding the effect of unrealised non-hedge derivatives

224

318

162

1,063

156

Capital expenditure

111

325

Rounding of figures may results in computational discrepancies.

Rand / Metric

Dollar / Imperial

South Africa

WEST WITS

Quarter

Year

Quarter

Year

ended

December

September

December

September

December

2006

2005

2006

2005

2006

SAVUKA
OPERATING RESULTS
UNDERGROUND OPERATION
Area mined

- 000 m

/ - 000 ft

206

229

187

830

Milled

- 000 tonnes / - 000 tons

360

105

397

Yield

- g/t

/ - oz/t

7.31

8.44

9.68

7.68

0.213

0.246

0.282

0.224

Gold produced

- kg

/ - oz (000)

654

808

770

2,768

Gold sold

- kg

/ - oz (000)

667

788

770

2,753

Price received

- R/kg

/ - $/oz

- sold

133,464

137,236

102,344

130,216

568

599

487

596

Total cash costs

- R

/ - $

- ton milled

580

571

604

560

- R/kg

/ - $/oz

- produced

79,339

67,618

62,419

72,865

339

294

297

336

Total production costs

- R/kg

/ - $/oz

- produced

76,223

74,723

87,574

77,752

324

325

416

359

PRODUCTIVITY PER EMPLOYEE
Target

- g

/ - oz

149

166

4.80

5.34

Actual

- g

/ - oz

208

256

215

221

6.68

8.24

6.91

7.11

Target

- m

/ - ft

4.99

5.00

53.75

53.81

Actual

- m

/ - ft

6.10

6.74

4.84

6.16

65.62

72.55

52.13

66.30

FINANCIAL RESULTS (MILLION)
Gold income

103

321

Cost of sales

213

Cash operating costs

200

Other cash costs

Total cash costs

202

Retrenchment costs

Rehabilitation and other non-cash costs

(7)

(1)

(6)

(1)

Production costs

197

Amortisation of tangible assets

Inventory change

(1)

(2)

107

Realised non-hedge derivatives

Gross profit excluding the effect of unrealised non-hedge derivatives

145

Capital expenditure

Rounding of figures may results in computational discrepancies.

Rand / Metric

Dollar / Imperial

South Africa

WEST WITS

Quarter

Year

Quarter

Year

ended

December

September

December

September

December

2006

2005

2006

2005

2006

TAUTONA
OPERATING RESULTS
UNDERGROUND OPERATION
Area mined

- 000 m

/ - 000 ft

242

618

683

779

2,606

Milled

- 000 tonnes / - 000 tons

308

375

442

1,420

339

413

487

1,565

Yield

- g/t

/ - oz/t

11.46

10.51

8.90

10.18

0.334

0.306

0.260

0.297

Gold produced

- kg

/ - oz (000)

3,526

3,935

3,929

14,450

113

127

126

465

SURFACE AND DUMP RECLAMATION
Treated

- 000 tonnes / - 000 tons

172

142

621

189

157

684

Yield

- g/t

/ - oz/t

0.45

0.46

0.54

0.46

0.013

0.016

0.013

Gold produced

- kg

/ - oz (000)

286

TOTAL

Yield

- g/t

/ - oz/t

11.46

10.51

8.90

10.18

0.334

0.306

0.260

0.297

Gold produced

- kg

/ - oz (000)

3,604

4,000

3,970

14,736

116

129

128

474

Gold sold

- kg

/ - oz (000)

3,729

3,928

3,965

14,649

120

126

127

471

Price received

- R/kg

/ - $/oz

- sold

131,779

137,120

102,120

130,300

559

598

486

596

Total cash costs

- R

/ - $

- ton milled

489

432

400

422

- R/kg

/ - $/oz

- produced

65,013

55,777

52,087

58,419

277

243

248

269

Total production costs

- R/kg

/ - $/oz

- produced

93,108

80,233

79,572

83,398

397

349

380

384

PRODUCTIVITY PER EMPLOYEE
Target

- g

/ - oz

356

336

329

11.45

10.82

10.58

Actual

- g

/ - oz

290

326

318

302

9.31

10.48

10.24

9.71

Target

- m

/ - ft

5.71

5.60

5.30

5.60

61.43

60.30

57.09

60.32

Actual

- m

/ - ft

4.61

5.17

5.81

4.97

49.64

55.60

62.50

53.45

FINANCIAL RESULTS (MILLION)
Gold income

440

512

368

1,704

250

Cost of sales

345

315

319

1,215

179

Cash operating costs

233

221

206

853

126

Other cash costs

Total cash costs

234

223

207

861

127

Retrenchment costs

Rehabilitation and other non-cash costs

(3)

Production costs

246

227

209

883

131

Amortisation of tangible assets

107

346

Inventory change

(6)

(13)

(1)

(3)

197

489

Realised non-hedge derivatives

205

Gross profit excluding the effect of unrealised non-hedge derivatives

147

224

693

101

Capital expenditure

142

124

143

475

Total yield excludes the surface and dump reclamation.

Rounding of figures may results in computational discrepancies.

Rand / Metric

Dollar / Imperial

Argentina

Quarter

Year

Quarter

Year

ended

December

September

December

September

December

2006

2005

2006

2005

2006

CERRO VANGUARDIA - Atrributable 92.50%
OPERATING RESULTS
OPEN-PIT OPERATION
Mined

- 000 tonnes / - 000 tons

6,341

5,100

4,875

19,674

6,990

5,621

5,374

21,687

Treated

- 000 tonnes / - 000 tons

244

243

211

917

269

268

232

1,011

Stripping ratio

- t (mined total-mined ore) / t mined ore

26.88

18.27

22.30

20.54

26.88

18.27

22.30

20.54

Yield

- g/t

/ - oz/t

5.51

7.00

7.49

7.29

0.161

0.204

0.218

0.213

Gold in ore

- kg

/ - oz (000)

1,423

1,583

1,677

6,287

202

Gold produced

- kg

/ - oz (000)

1,346

1,702

1,577

6,683

215

Gold sold

- kg

/ - oz (000)

1,325

1,605

1,596

6,619

213

Price received

- R/kg

/ - $/oz

- sold

105,682

112,830

90,615

104,320

450

489

432

481

Total cash costs

- R/kg

/ - $/oz

- produced

79,547

49,170

36,290

49,358

340

213

173

225

Total production costs

- R/kg

/ - $/oz

- produced

128,229

79,097

57,810

79,269

549

343

275

361

PRODUCTIVITY PER EMPLOYEE
Target

- g

/ - oz

918

1,028

818

1,065

29.51

33.05

26.30

34.23

Actual

- g

/ - oz

723

962

924

938

23.24

30.92

29.70

30.15

FINANCIAL RESULTS (MILLION)
Gold income

162

205

160

778

115

Cost of sales

159

117

500

Cash operating costs

256

Other cash costs

Total cash costs

107

330

Rehabilitation and other non-cash costs

(4)

(2)

(1)

Production costs

103

328

Amortisation of tangible assets

202

Inventory change

(14)

(17)

(29)

(2)

(4)

277

Realised non-hedge derivatives

(13)

(5)

(45)

(2)

(1)

(7)

Gross (loss) profit excluding the effect of unrealised non-hedge derivatives

(10)

232

(1)

Capital expenditure

119

Rounding of figures may results in computational discrepancies.

Rand / Metric

Dollar / Imperial

Australia

Quarter

Year

Quarter

Year

ended

December

September

December

September

December

2006

2005

2006

2005

2006

SUNRISE DAM
OPERATING RESULTS
UNDERGROUND OPERATION
Mined

- 000 tonnes / - ooo tons

117

354

108

128

390

Treated

- 000 tonnes / - 000 tons

129

311

142

343

Yield

- g/t

/ - oz/t

7.74

5.87

6.67

0.226

0.171

0.194

Gold produced

- kg

/ - oz (000)

557

757

2,073

OPEN-PIT OPERATION
Volume mined

- 000 bcm

/ - 000 bcy

2,018

2,561

2,938

9,994

2,639

3,350

3,843

13,072

Treated

- 000 tonnes / - 000 tons

997

842

934

3,656

1,099

929

1,030

4,030

Stripping ratio

- t (mined total-mined ore) / t mined ore

3.36

6.29

5.40

4.49

3.36

6.29

5.40

4.49

Yield

- g/t

/ - oz/t

4.20

3.10

2.69

3.39

0.123

0.090

0.078

0.099

Gold produced

- kg

/ - oz (000)

4,189

2,609

2,866

12,377

135

398

TOTAL

Yield

- g/t

/ - oz/t

4.20

3.10

2.69

3.39

0.123

0.090

0.078

0.099

Gold produced

- kg

/ - oz (000)

4,746

3,366

2,866

14,450

153

108

465

Gold sold

- kg

/ - oz (000)

4,899

3,194

2,856

14,413

158

103

463

Price received

- R/kg

/ - $/oz

- sold

144,920

183,514

107,342

146,149

625

794

515

663

Total cash costs

- R/kg

/ - $/oz

- produced

68,640

80,232

48,903

65,877

293

346

231

298

Total production costs

- R/kg

/ - $/oz

- produced

86,512

98,305

81,376

82,908

369

425

384

376

PRODUCTIVITY PER EMPLOYEE
Target

- g

/ - oz

3,786

2,930

2,112

2,992

121.72

94.21

67.89

96.18

Actual

- g

/ - oz

4,354

2,867

2,552

3,156

140.00

92.18

82.06

101.48

FINANCIAL RESULTS (MILLION)
Gold income

620

454

287

1,848

271

Cost of sales

402

335

262

1,173

171

Cash operating costs

308

259

132

903

131

Other cash costs

Total cash costs

326

270

140

952

139

Rehabilitation and other non-cash costs

(3)

Production costs

327

267

187

953

139

Amortisation of tangible assets

245

Inventory change

(8)

(25)

(1)

(4)

218

119

675

100

Realised non-hedge derivatives

132

259

Gross profit excluding the effect of unrealised non-hedge derivatives

308

251

934

137

Capital expenditure

163

Total yield excludes the underground operations.

Rounding of figures may results in computational discrepancies.

Rand / Metric

Dollar / Imperial

Brazil

Quarter

Year

Quarter

Year

ended

December

September

December

September

December

2006

2005

2006

2005

2006

ANGLOGOLD ASHANTI BRASIL MINERAÇÃO
OPERATING RESULTS
UNDERGROUND OPERATION
Mined

- 000 tonnes / - 000 tons

251

255

212

877

276

281

233

967

Treated

- 000 tonnes / - 000 tons

233

254

237

859

257

280

261

947

Yield

- g/t

/ - oz/t

7.97

7.13

7.16

7.60

0.232

0.208

0.209

0.222

Gold produced

- kg

/ - oz (000)

1,855

1,808

1,696

6,527

210

SURFACE AND DUMP RECLAMATION
Treated

- 000 tonnes / - 000 tons

Yield

- g/t

/ - oz/t

2.30

0.067

Gold produced

- kg

/ - oz (000)

HEAP LEACH OPERATION
Mined

- 000 tonnes / - 000 tons

873

1,081

846

4,010

963

1,192

933

4,421

Placed

- 000 tonnes / - 000 tons

252

278

Stripping ratio

- t (mined total-mined ore) / t mined ore

14.25

13.22

11.40

14.91

14.25

13.22

11.40

14.91

Yield

- g/t

/ - oz/t

10.80

7.01

4.38

7.87

0.315

0.205

0.128

0.230

Gold placed

- kg

/ - oz (000)

617

533

296

1,984

Gold produced

- kg

/ - oz (000)

302

290

287

1,007

TOTAL

Yield

- g/t

/ - oz/t

7.97

7.13

7.16

7.60

0.232

0.208

0.209

0.222

Gold produced

- kg

/ - oz (000)

2,156

2,098

2,068

7,533

242

Gold sold

- kg

/ - oz (000)

2,095

2,045

2,037

7,703

248

Price received

- R/kg

/ - $/oz

- sold

174,394

136,910

94,047

134,572

746

592

451

609

Total cash costs

- R/kg

/ - $/oz

- produced

45,050

47,496

39,945

42,816

192

207

190

195

Total production costs

- R/kg

/ - $/oz

- produced

68,934

59,868

50,386

58,713

293

260

240

266

PRODUCTIVITY PER EMPLOYEE
Target

- g

/ - oz

620

627

562

555

19.94

20.16

18.06

17.83

Actual

- g

/ - oz

568

573

664

526

18.25

18.42

21.34

16.90

FINANCIAL RESULTS (MILLION)
Gold income

281

244

171

881

128

Cost of sales

134

117

114

441

Cash operating costs

312

Other cash costs

Total cash costs

100

323

Rehabilitation and other non-cash costs

Production costs

115

101

343

Amortisation of tangible assets

Inventory change

(14)

(8)

(2)

(1)

147

127

440

Realised non-hedge derivatives

156

Gross profit excluding the effect of unrealised non-hedge derivatives

231

163

596

Capital expenditure

300

362

180

1,134

168

Tonnes / Tons placed onto leach pad

Gold placed into leach paid inventory

Gold placed / tonnes (tons) placed

Total yield represents underground operations

Rounding of figures may results in computational discrepancies.

Rand / Metric

Dollar / Imperial

Brazil

Quarter

Year

Quarter

Year

ended

December

September

December

September

December

2006

2005

2006

2005

2006

SERRA GRANDE - Attributable 50%
OPERATING RESULTS
UNDERGROUND OPERATION
Mined

- 000 tonnes / - 000 tons

107

401

110

118

105

442

Treated

- 000 tonnes / - 000 tons

104

402

107

115

106

443

Yield

- g/t

/ - oz/t

7.69

7.29

7.67

7.51

0.224

0.213

0.224

0.219

Gold produced

- kg

/ - oz (000)

747

760

741

3,017

Gold sold

- kg

/ - oz (000)

681

725

745

2,952

Price received

- R/kg

/ - $/oz

- sold

157,880

122,529

99,723

116,978

670

541

479

537

Total cash costs

- R/kg

/ - $/oz

- produced

48,667

43,943

36,418

43,031

207

194

174

198

Total production costs

- R/kg

/ - $/oz

- produced

71,232

57,431

49,378

57,627

304

253

236

265

PRODUCTIVITY PER EMPLOYEE
Target

- g

/ - oz

919

1,039

839

973

29.56

33.41

26.98

31.28

Actual

- g

/ - oz

887

945

982

946

28.50

30.37

31.58

30.42

FINANCIAL RESULTS (MILLION)
Gold income

294

Cost of sales

165

Cash operating costs

121

Other cash costs

Total cash costs

130

Rehabilitation and other non-cash costs

(1)

Production costs

129

Amortisation of tangible assets

Inventory change

(7)

(3)

(2)

(9)

(1)

129

Realised non-hedge derivatives

Gross profit excluding the effect of unrealised non-hedge derivatives

180

Capital expenditure

Rounding of figures may results in computational discrepancies.

Rand / Metric

Dollar / Imperial

Ghana

Quarter

Year

Quarter

Year

ended

December

September

December

September

December

2006

2005

2006

2005

2006

BIBIANI
OPERATING RESULTS
SURFACE AND DUMP RECLAMATION
Treated

- 000 tonnes

/ - 000 tons

347

597

2,129

383

659

2,346

Yield

- g/t

/ - oz/t

0.43

0.44

0.55

0.013

0.016

Gold produced

- kg

/ - oz (000)

150

263

1,163

OPEN-PIT OPERATION
Mined

- 000 tonnes

/ - 000 tons

304

335

Treated

- 000 tonnes

/ - 000 tons

601

663

Stripping ratio

- t (mined total-mined ore) / t mined ore

5.46

Yield

- g/t

/ - oz/t

1.28

0.037

Gold in ore

- kg

/ - oz (000)

104

Gold produced

- kg

/ - oz (000)

768

TOTAL

Yield

- g/t

/ - oz/t

0.43

0.44

0.55

0.013

0.016

Gold produced

- kg

/ - oz(000)

150

263

768

1,163

Gold sold

- kg

/ - oz (000)

139

283

768

1,119

Price received

- R/kg

/ - $/oz

- sold

144,824

142,948

98,691

127,044

606

622

469

593

Total cash costs

- R/kg

/ - $/oz

- produced

121,324

163,285

69,913

95,581

508

704

334

437

Total production costs

- R/kg

/ - $/oz

- produced

(70,202)

197,243

128,268

98,495

(315)

853

608

464

PRODUCTIVITY PER EMPLOYEE
Target

- g

/ - oz

899

268

894

28.89

8.61

28.74

Actual

- g

/ - oz

390

476

968

605

12.54

15.30

31.11

19.46

FINANCIAL RESULTS (MILLION)
Gold income

142

Cost of sales

(12)

112

110

(2)

Cash operating costs

106

Other cash costs

Total cash costs

111

Rehabilitation and other non-cash costs

(30)

(22)

(4)

(3)

Production costs

(12)

(2)

Amortisation of tangible assets

Inventory change

(1)

(5)

(1)

(13)

(39)

(2)

(6)

Realised non-hedge derivatives

Gross profit (loss) excluding the effect of unrealised non-hedge derivatives

(13)

(36)

(2)

(6)

Capital expenditure

Total yield represents surface and dump reclamation

Rounding of figures may results in computational discrepancies.

Rand / Metric

Dollar / Imperial

Ghana

Quarter

Year

Quarter

Year

ended

December

September

December

September

December

2006

2005

2006

2005

2006

IDUAPRIEM - Attributable 85%
OPERATING RESULTS
OPEN-PIT OPERATION
Mined

- 000 tonnes

/ - 000 tons

5,421

4,568

4,580

19,212

5,975

5,035

5,049

21,178

Treated

- 000 tonnes

/ - 000 tons

719

784

846

2,992

792

865

933

3,298

Stripping ratio

- t (mined total-mined ore) / t mined ore

5.69

5.45

4.40

5.02

5.69

5.45

4.40

5.02

Yield

- g/t

/ - oz/t

1.70

1.73

1.63

1.74

0.049

0.051

0.048

0.051

Gold in ore

- kg

/ - oz (000)

1,339

1,455

1,576

5,463

176

Gold produced

- kg

/ - oz (000)

1,219

1,360

1,381

5,196

167

Gold sold

- kg

/ - oz (000)

1,112

1,434

1,515

5,027

162

Price received

- R/kg

/ - $/oz

- sold

115,606

116,840

95,533

110,458

495

507

457

509

Total cash costs

- R/kg

/ - $/oz

- produced

85,886

77,622

83,222

79,733

366

338

397

368

Total produced costs

- R/kg

/ - $/oz

- produced

104,967

103,239

107,588

103,544

446

449

513

478

PRODUCTIVITY PER EMPLOYEE
Target

- g

/ - oz

583

592

708

616

18.74

19.02

22.77

19.80

Actual

- g

/ - oz

568

648

619

18.27

20.83

20.85

19.90

FINANCIAL RESULTS (MILLION)
Gold income

106

146

133

472

Cost of sales

117

149

175

506

Cash operating costs

101

108

391

Other cash costs

Total cash costs

105

106

115

414

Rehabilitation and other non-cash costs

(9)

(2)

(8)

(1)

Production costs

103

124

406

Amortisation of tangible assets

117

Inventory change

(8)

(18)

(1)

(3)

(11)

(3)

(42)

(33)

(1)

(6)

(5)

Realised non-hedge derivatives

Gross profit (loss) excluding the effect of unrealised non-hedge derivatives

(30)

(5)

Capital expenditure

Total yield excludes the heap leach operation.

Rounding of figures may results in computational discrepancies.

Rand / Metric

Dollar / Imperial

Ghana

Quarter

Year

Quarter

Year

ended

December

September

December

September

December

2006

2005

2006

2005

2006

OBUASI
OPERATING RESULTS
UNDERGROUND OPERATION
Mined

- 000 tonnes

/ - 000 tons

584

566

568

2,332

643

624

626

2,570

Treated

- 000 tonnes

/ - 000 tons

560

576

543

2,251

618

635

598

2,481

Yield

- g/t

/ - oz/t

4.61

4.05

4.87

4.39

0.134

0.118

0.142

0.128

Gold produced

- kg

/ - oz (000)

2,583

2,331

2,644

9,879

318

SURFACE AND DUMP RECLAMATION
Treated

- 000 tonnes

/ - 000 tons

615

677

502

2,481

677

747

553

2,735

Yield

- g/t

/ - oz/t

0.44

0.51

0.47

0.51

0.013

0.015

0.014

0.015

Gold produced

- kg

/ - oz (000)

270

349

236

1,273

OPEN-PIT OPERATION
Mined

- 000 tonnes

/ - 000 tons

402

425

339

1,903

443

469

374

2,097

Treated

- 000 tonnes

/ - 000 tons

402

425

256

1,512

443

469

282

1,667

Stripping ratio

- t (mined total-mined ore) / t mined ore

4.37

0.26

4.37

0.26

Yield

- g/t

/ - oz/t

0.47

0.56

0.89

0.59

0.014

0.016

0.026

0.017

Gold in ore

- kg

/ - oz (000)

189

237

1,192

Gold produced

- kg

/ - oz (000)

189

237

227

888

TOTAL

Yield

- g/t

/ - oz/t

4.61

4.05

4.87

4.39

0.134

0.118

0.142

0.128

Gold produced

- kg

/ - oz (000)

3,041

2,916

3,107

12,040

100

387

Gold sold

- kg

/ - oz (000)

3,082

2,916

3,248

11,719

104

377

Price received

- R/kg

/ - $/oz

- sold

116,635

109,146

95,609

108,346

501

474

457

498

Total cash costs

- R/kg

/ - $/oz

- produced

102,684

89,549

75,184

86,508

437

388

357

395

Total production costs

- R/kg

/ - $/oz

- produced

166,564

134,636

112,164

131,398

713

584

535

600

PRODUCTIVITY PER EMPLOYEE

Target

- g

/ - oz

216

221

347

219

6.93

7.10

11.17

7.04

Actual

- g

/ - oz

181

165

158

172

5.83

5.32

5.08

5.52

FINANCIAL RESULTS (MILLION)
Gold income

299

261

283

1,050

155

Cost of sales

518

402

346

1,562

229

Cash operating costs

295

246

219

983

144

Other cash costs

Total cash costs

312

261

234

1,042

153

Retrenchment costs

104

Rehabilitation and other non-cash costs

(22)

(10)

(3)

(1)

Production costs

394

270

241

1,136

166

Amortisation of tangible assets

112

123

111

446

Inventory change

(6)

(20)

(1)

(3)

(219)

(141)

(64)

(512)

(30)

(20)

(10)

(74)

Realised non-hedge derivatives

220

Gross (loss) excluding the effect of unrealised non-hedge derivatives

(159)

(84)

(36)

(292)

(22)

(12)

(5)

(42)

Capital expenditure

216

140

193

613

Total yield represents underground operations.

Rounding of figures may results in computational discrepancies.

Rand / Metric

Dollar / Imperial

Guinea

Quarter

Year

Quarter

Year

ended

December

September

December

September

December

2006

2005

2006

2005

2006

SIGUIRI - Attributable 85%
OPERATING RESULTS
OPEN-PIT OPERATION
Mined

- 000 tonnes

/ - 000 tons

4,765

3,915

5,827

19,293

5,252

4,315

6,423

21,267

Treated

- 000 tonnes

/ - 000 tons

2,182

1,714

1,548

6,993

2,405

1,889

1,706

7,709

Stripping ratio

- t (mined total-mined ore) / t mined ore

1.01

1.08

1.69

1.26

1.01

1.08

1.69

1.26

Yield

- g/t

/ - oz/t

1.08

1.09

1.12

1.08

0.032

0.033

0.032

Gold produced

- kg

/ - oz (000)

2,364

1,862

1,736

7,586

244

HEAP LEACH OPERATION
Gold produced

- kg

/ - oz (000)

201

362

TOTAL

Yield

- g/t

/ - oz/t

1.08

1.09

1.12

1.08

0.032

0.033

0.032

Gold produced

- kg

/ - oz (000)

2,406

1,940

1,936

7,948

256

Gold sold

- kg

/ - oz (000)

2,402

1,755

1,936

7,758

249

Price received

- R/kg

/ - $/oz

- sold

125,385

115,096

96,234

114,730

539

502

460

524

Total cash costs

- R/kg

/ - $/oz

- produced

89,572

100,179

72,822

87,571

383

435

341

399

Total production costs

- R/kg

/ - $/oz

- produced

136,464

129,505

106,570

121,156

584

562

502

552

PRODUCTIVITY PER EMPLOYEE
Target

- g

/ - oz

522

463

959

472

16.78

14.88

30.82

15.17

Actual

- g

/ - oz

619

494

534

508

19.89

15.88

17.17

16.33

FINANCIAL RESULTS (MILLION)
Gold income

270

173

171

778

114

Cost of sales

324

224

183

895

130

Cash operating costs

175

143

124

567

Other cash costs

129

Total cash costs

216

194

138

696

102

Rehabilitation and other non-cash costs

(3)

Production costs

239

196

135

724

106

Amortisation of tangible assets

233

Inventory change

(2)

(25)

(14)

(62)

(3)

(2)

(10)

(53)

(51)

(12)

(116)

(7)

(2)

(16)

Realised non-hedge derivatives

112

Gross (loss) profit excluding the effect of unrealised non-hedge derivatives

(23)

(22)

(5)

(3)

Capital expenditure

Total yield excludes the heap leach operation.

Rounding of figures may result in computational discrepancies.

Rand / Metric

Dollar / Imperial

Mali

Quarter

Year

Quarter

Year

ended

December

September

December

September

December

2006

2005

2006

2005

2006

MORILA - Attributable 40%
OPERATING RESULTS
OPEN-PIT OPERATION

Volume mined

- 000 bcm

/ - 000 bcy

661

700

1,176

3,228

864

915

1,538

4,222

Mined

- 000 tonnes

/ - 000 tons

1,834

1,945

2,719

8,605

2,022

2,144

2,997

9,485

Treated

- 000 tonnes

/ - 000 tons

434

403

378

1,655

479

444

417

1,825

Stripping ratio

- t (mined total-mined ore) / t mined ore

4.03

2.85

2.09

3.10

4.03

2.85

2.09

3.10

Yield

- g/t

/ - oz/t

3.46

3.85

4.80

3.88

0.101

0.112

0.140

0.113

Gold produced

- kg

/ - oz (000)

1,503

1,551

1,817

6,428

207

Gold sold

- kg

/ - oz (000)

1,554

1,520

1,916

6,234

200

Price received

- R/kg

/ - $/oz

- sold

145,100

142,018

101,211

131,821

616

622

483

607

Total cash costs

- R/kg

/ - $/oz

- produced

74,482

64,107

47,734

60,080

317

278

227

275

Total production costs

- R/kg

/ - $/oz

- produced

84,940

84,277

70,011

75,989

361

366

333

349

PRODUCTIVITY PER EMPLOYEE

Target

- g

/ - oz

2,715

2,477

2,115

2,552

87.28

79.65

68.00

82.04

Actual

- g

/ - oz

1,132

1,178

2,051

1,221

36.39

37.87

65.94

39.26

FINANCIAL RESULTS (MILLION)
Gold income

226

216

194

822

122

Cost of sales

131

120

142

468

Cash operating costs

329

Other cash costs

Total cash costs

112

386

Rehabilitation and other non-cash costs

(11)

(10)

(2)

(1)

Production costs

101

100

377

Amortisation of tangible assets

112

Inventory change

(11)

(21)

(1)

(3)

354

Realised non-hedge derivatives

Gross profit excluding the effect of unrealised non-hedge derivatives

354

Capital expenditure

Operating results for the June 2006 quarter have been restated to reflect correct metric and imperial values

Rounding of figures may result in computational discrepancies.

Rand / Metric

Dollar / Imperial

Mali

Quarter

Year

Quarter

Year

ended

December

September

December

September

December

2006

2005

2006

2005

2006

SADIOLA - Attributable 38%
OPERATING RESULTS
OPEN-PIT OPERATION
Volume mined

- 000 bcm

/ - 000 bcy

1,343

996

978

4,363

1,756

1,302

1,279

5,707

Mined

- 000 tonnes

/ - 000 tons

2,772

1,984

2,013

8,904

3,056

2,187

2,219

9,815

Treated

- 000 tonnes

/ - 000 tons

449

502

1,832

495

553

554

2,020

Stripping ratio

- t (mined total-mined ore) / t mined ore

3.61

4.18

1.52

3.29

3.61

4.18

1.52

3.29

Yield

- g/t

/ - oz/t

3.44

2.85

2.63

3.22

0.100

0.083

0.077

0.094

Gold produced

- kg

/ - oz (000)

1,546

1,430

1,323

5,898

190

Gold sold

- kg

/ - oz (000)

1,369

1,498

1,370

5,722

184

Price received

- R/kg

/ - $/oz

- sold

143,908

142,917

101,716

131,939

612

625

485

606

Total cash costs

- R/kg

/ - $/oz

- produced

65,107

63,739

59,678

58,876

277

278

284

270

Total production costs

- R/kg

/ - $/oz

- produced

77,704

79,042

72,230

73,025

331

344

335

PRODUCTIVITY PER EMPLOYEE

Target

- g

/ - oz

1,839

2,066

2,192

1,885

59.12

66.41

70.47

60.62

Actual

- g

/ - oz

1,350

1,339

1,629

1,347

43.40

43.03

52.38

43.32

FINANCIAL RESULTS (MILLION)
Gold income

197

214

139

755

111

Cost of sales

107

115

421

Cash operating costs

294

Other cash costs

Total cash costs

101

347

Rehabilitation and other non-cash costs

(6)

(1)

Production costs

346

Amortisation of tangible assets

Inventory change

(13)

(3)

(10)

(2)

(1)

334

Realised non-hedge derivatives

Gross profit excluding the effect of unrealised non-hedge derivatives

334

Capital expenditure

Operating results for the June 2006 quarter have been restated to reflect correct metric and imperial values

Rounding of figures may result in computational discrepancies.

Rand / Metric

Dollar / Imperial

Mali

Quarter

Year

Quarter

Year

ended

December

September

December

September

December

2006

2005

2006

2005

2006

YATELA - Attributable 40%
OPERATING RESULTS
HEAP LEACH OPERATION
Mined

- 000 tonnes

/ - 000 tons

1,821

1,417

1,265

5,745

2,007

1,562

1,394

6,333

Placed

- 000 tonnes

/ - 000 tons

363

267

328

1,282

400

295

362

1,413

Stripping ratio

- t (mined total-mined ore) / t mined ore

8.66

12.80

4.97

5.50

8.66

12.80

4.97

5.50

Yield

- g/t

/ - oz/t

3.88

2.97

3.73

4.12

0.113

0.087

0.109

0.120

Gold placed

- kg

/ - oz (000)

1,408

793

1,225

5,278

170

Gold produced

- kg

/ - oz (000)

1,061

1,048

972

4,374

141

Gold sold

- kg

/ - oz (000)

1,048

1,079

997

4,328

139

Price received

- R/kg

/ - $/oz

- sold

144,129

141,828

102,055

131,547

615

620

487

605

Total cash costs

- R/kg

/ - $/oz

- produced

51,776

53,712

43,556

49,469

222

234

208

228

Total production costs

- R/kg

/ - $/oz

- produced

45,489

93,736

60,795

65,402

195

398

290

299

PRODUCTIVITY PER EMPLOYEE

Target

- g

/ - oz

1,236

1,231

1,127

1,272

39.75

39.58

36.24

40.89

Actual

- g

/ - oz

1,470

1,455

1,434

1,514

47.25

46.78

46.11

48.69

FINANCIAL RESULTS (MILLION)
Gold income

151

153

102

569

Cost of sales

271

Cash operating costs

176

Other cash costs

Total cash costs

216

Rehabilitation and other non-cash costs

(31)

(22)

(4)

(3)

Production costs

194

Amortisation of tangible assets

Inventory change

(15)

(2)

103

298

Realised non-hedge derivatives

Gross profit excluding the effect of unrealised non-hedge derivatives

103

298

Capital expenditure

Tonnes / Tons placed on to leach pad.

Gold placed / tonnes (tons) placed.

Gold placed into leach pad inventory.

Operating results for the June 2006 quarter have been restated to reflect correct metric and imperial values

Rounding of figures may result in computational discrepancies.

Rand / Metric

Dollar / Imperial

Namibia

Quarter

Year

Quarter

Year

ended

December

September

December

September

December

2006

2005

2006

2005

2006

NAVACHAB
OPERATING RESULTS
OPEN-PIT OPERATION

Volume mined

- 000 bcm

/ - 000 bcy

856

841

295

3,142

1,120

1,101

386

4,109

Mined

- 000 tonnes

/ - 000 tons

2,133

2,096

922

7,829

2,351

2,310

1,016

8,630

Treated

- 000 tonnes

/ - 000 tons

379

413

303

1,490

418

455

334

1,642

Stripping ratio

- t (mined total-mined ore) / t mined ore

5.83

10.09

1.66

8.30

5.83

10.09

1.66

8.30

Yield

- g/t

/ - oz/t

1.63

1.72

2.30

1.81

0.048

0.050

0.067

0.053

Gold produced

- kg

/ - oz (000)

617

711

696

2,690

Gold sold

- kg

/ - oz (000)

544

695

698

2,548

Price received

- R/kg

/ - $/oz

- sold

146,335

143,884

101,269

131,942

619

627

482

608

Total cash costs

- R/kg

/ - $/oz

- produced

70,764

58,677

54,386

57,716

303

255

259

265

Total production costs

- R/kg

/ - $/oz

- produced

96,078

74,494

33,958

75,801

412

324

156

348

PRODUCTIVITY PER EMPLOYEE
Target

- g

/ - oz

756

799

763

791

24.32

25.70

24.52

25.43

Actual

- g

/ - oz

654

769

758

716

21.04

24.71

24.37

23.03

FINANCIAL RESULTS (MILLION)
Gold income

100

336

Cost of sales

188

Cash operating costs

152

Other cash costs

Total cash costs

155

Rehabilitation and other non-cash costs

(42)

(7)

Production costs

(4)

160

(1)

Amortisation of tangible assets

Inventory change

(12)

(16)

(2)

148

Realised non-hedge derivatives

Gross profit excluding the effect of unrealised non-hedge derivatives

148

Capital expenditure

Operating results for the June 2006 quarter have been restated to reflect correct metric and imperial values

Rounding of figures may result in computational discrepancies.

Rand / Metric

Dollar / Imperial

Tanzania

Quarter

Year

Quarter

Year

ended

December

September

December

September

December

2006

2005

2006

2005

2006

GEITA

OPERATING RESULTS
OPEN-PIT OPERATION
Volume mined

- 000 bcm

/ - 000 bcy

5,836

6,610

4,799

22,774

7,633

8,646

6,277

29,789

Mined

- 000 tonnes

/ - 000 tons

15,271

16,618

13,108

59,724

16,833

18,318

14,449

65,834

Treated

- 000 tonnes

/ - 000 tons

1,437

1,545

5,691

1,583

1,703

6,273

Stripping ratio

- t (mined total-mined ore) / t mined ore

8.00

11.33

8.53

9.87

8.00

11.33

8.53

9.87

Yield

- g/t

/ - oz/t

1.73

1.48

2.41

1.68

0.050

0.043

0.070

0.049

Gold produced

- kg

/ - oz (000)

2,478

2,280

3,730

9,588

120

308

Gold sold

- kg

/ - oz (000)

2,617

2,020

3,398

9,666

109

311

Price received

- R/kg

/ - $/oz

- sold

143,260

142,005

104,922

131,190

608

619

503

602

Total cash costs

- R/kg

/ - $/oz

- produced

138,524

124,644

68,370

109,639

586

540

326

497

Total production costs

- R/kg

/ - $/oz

- produced

143,291

163,321

100,414

130,792

605

706

478

595

PRODUCTIVITY PER EMPLOYEE

Target

- g

/ - oz

1,489

1,125

800

1,110

47.87

36.17

25.73

35.69

Actual

- g

/ - oz

385

382

920

404

12.38

12.27

29.58

12.98

FINANCIAL RESULTS (MILLION)
Gold income

257

181

266

857

127

Cost of sales

377

337

313

1,287

189

Cash operating costs

320

270

240

988

144

Other cash costs

Total cash costs

335

282

253

1,036

151

Rehabilitation and other non-cash costs

(68)

113

(60)

(9)

(8)

Production costs

267

284

365

976

143

Amortisation of tangible assets

263

Inventory change

(32)

(59)

(4)

(9)

(121)

(156)

(48)

(430)

(16)

(22)

(7)

(62)

Realised non-hedge derivatives

118

105

411

Gross (loss) profit excluding the effect of unrealised non-hedge derivatives

(2)

(51)

(19)

(7)

(2)

Capital expenditure

119

198

452

Operating results for the June 2006 quarter have been restated to reflect correct metric and imperial values

Rounding of figures may result in computational discrepancies.

Rand / Metric

Dollar / Imperial

USA

Quarter

Year

Quarter

Year

ended

December

September

December

September

December

2006

2005

2006

2005

2006

CRIPPLE CREEK & VICTOR J.V.

OPERATING RESULTS
HEAP LEACH OPERATION
Mined

- 000 tonnes

/ - 000 tons

12,840

12,883

13,015

53,764

14,153

14,201

14,346

59,264

Placed

- 000 tonnes

/ - 000 tons

5,468

5,446

4,731

21,795

6,027

6,003

5,215

24,025

Stripping ratio

- t (mined total-mined ore) / t mined ore

1.46

1.52

1.84

1.53

1.46

1.52

1.84

1.53

Yield

- g/t

/ - oz/t

0.48

0.65

0.62

0.54

0.014

0.019

0.018

0.016

Gold placed

- kg

/ - oz (000)

2,617

3,518

2,922

11,821

113

380

Gold produced

- kg

/ - oz (000)

2,661

2,143

2,659

8,817

283

Gold sold

- kg

/ - oz (000)

2,692

2,183

2,563

8,915

287

Price received

- R/kg

/ - $/oz

- sold

146,846

87,671

83,972

95,755

626

379

399

431

Total cash costs

- R/kg

/ - $/oz

- produced

60,891

55,821

50,297

54,389

259

243

239

248

Total production costs

- R/kg

/ - $/oz

- produced

85,892

78,428

72,260

77,828

366

342

344

356

PRODUCTIVITY PER EMPLOYEE
Target

- g

/ - oz

2,675

2,991

2,725

2,713

86.00

96.15

87.62

87.23

Actual

- g

/ - oz

2,740

2,151

2,878

2,260

88.10

69.16

92.52

72.67

FINANCIAL RESULTS (MILLION)
Gold income

286

156

147

656

Cost of sales

229

168

192

686

101

Cash operating costs

170

185

159

654

Other cash costs

Total cash costs

177

188

168

676

100

Rehabilitation and other non-cash costs

Production costs

181

192

175

690

102

Amortisation of tangible assets

265

Inventory change

(12)

(82)

(46)

(268)

(1)

(11)

(7)

(40)

(12)

(46)

(30)

(2)

(7)

(6)

Realised non-hedge derivatives

109

198

Gross profit excluding the effect of unrealised non-hedge derivatives

167

Capital expenditure

Tonnes / Tons placed onto leach pad.

Gold placed / tonnes (tons) placed.

Gold placed into leach pad inventory.

Total cash cost calculation includes inventory change.

Rounding of figures may result in computational discrepancies.

Rand / Metric

Dollar / Imperial

Shareholders’ notice board

Diary:

Financial year-end

31 December 2006

Annual financial statements

posting on or about

19 March 2007

Annual general meeting

11:00 SA time

4 May 2007

Quarterly reports released:

Quarter ended 31 March 2007

5 May 2007

Quarter ended 30 June 2007

31 July 2007

Quarter ended 30 September 2007

1 November 2007

Quarter ended 31 December 2007

*1 February 2008

Dividends /

Dividend Number

Declared

Last date to trade

ordinary shares

cum dividend

Payment date to

shareholders

Payment date to ADS

holders

Final – No. 101

12 February 2007

2 March 2007

16 March 2007

26 March 2007

Interim – No. 102

30 July 2007*

17 August 2007*

31 August 2007*

10 September 2007*

Final – No. 103

31 January 2008*

15 February 2008*

29 February 2008*

10 March 2008*

* Approximate dates.

Dividend policy: Dividends are proposed by, and approved by the board of directors of AngloGold Ashanti, based on
the interim and year-end financial statements. Dividends are recognised when declared by the board of directors of
AngloGold Ashanti. AngloGold Ashanti expects to continue to pay dividends, although there can be no assurance that
dividends will be paid in the future or as to the particular amounts that will be paid from year to year. The payments of
future dividends will depend upon the Board’s ongoing assessment of AngloGold Ashanti’s earnings, after providing for
long term growth are cash/debt resources, the amount of reserves available for dividend using going concern
assessment and restrictions placed by the conditions of the convertible bond and other factors.

Annual general meeting: Shareholders on the South African register who have dematerialised their shares in the
company (other than those shareholders whose shareholding is recorded in their own name in the sub-register
maintained by their CSDP) and who wish to attend the annual general meeting in person, will need to request their
CSDP or broker to provide them with the necessary authority in terms of the custody agreement entered into between
them and the CSDP or broker.

In line with AngloGold Ashanti’s commitment to improve its communications to shareholders, AngloGold Ashanti is in the
process of of implementing a procedure to enable shareholders to cast their votes electronicallyThis service will be
available to South African resident shareholders only.

Such shareholders may also use the electronic online proxy voting facility for purposes of instructing their CSDP or
broker as to how they wish to vote. In order for shareholders to use their online proxy voting facility, it is necessary to
register for the service via the following website. http:www.investorportal.co.za (click on the AngloGold Ashanti icon). A
demonstration of the electronic online proxy voting process may be viewed on http:/www.investorportal.co.za
Registration is free of charge. The website will be available on or about 1 March 2007.

Further information will be included in the notice of the general meeting to be sent to shareholders on or about 19 March
2007.

Change of details: Shareholders are reminded that the onus is on them to keep the company, through its nominated
share registrars, apprised of any change in their postal address and personal particulars. Similarly, where shareholders
receive dividend payments electronically (EFT), they should ensure that the banking details which the share registrars
and/or CSDPs have on file are correct.

Certain statements contained in this document, including, without limitation, those concerning the economic outlook for the gold mining industry, expectations
regarding gold prices and production, the completion and commencement of commercial operations of certain of AngloGold Ashanti’s exploration and production
projects, and its liquidity and capital resources and expenditure, contain certain forward-looking statements regarding AngloGold Ashanti’s operations, economic
performance and financial condition. Although AngloGold Ashanti believes that the expectations reflected in such forward-looking statements are reasonable, no
assurance can be given that such expectations will prove to have been correct. Accordingly, results could differ materially from those set out in the forward-looking
statements as a result of, among other factors, changes in economic and market conditions, success of business and operating initiatives, changes in the regulatory
environment and other government actions, fluctuations in gold prices and exchange rates, and business and operational risk management. AngloGold Ashanti
undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after the date of the annual
report on Form 20-F or to reflect the occurrence of unanticipated events. All subsequent written or oral forward-looking statements attributable to AngloGold Ashanti or
any person acting on its behalf are qualified by the cautionary statements herein. For a discussion on such risk factors, refer to AngloGold Ashanti's annual report on
Form 20-F for the year ended 31 December 2005 dated 17 March 2006, which was filed with the Securities and Exchange Commission (SEC) on 20 March 2006.

Administrative

information

ANGLOGOLD ASHANTI LIMITED

Registration No. 1944/017354/06
Incorporated in the Republic of South
Africa

Share codes:

ISIN: ZAE000043485
JSE:

ANG

LSE:

AGD

NYSE:

ASX:

AGG

GhSE (Shares):

AGA

GhSE (GhDS):

AAD

Euronext Paris:

Euronext Brussels:

ANG

JSE Sponsor:

UBS

Auditors:

Ernst & Young

Offices

Registered and Corporate

11 Diagonal Street
Johannesburg 2001
(PO Box 62117, Marshalltown 2107)
South Africa
Telephone: +27 11 637 6000
Fax: +27 11 637 6624

Australia
Level 13, St Martins Tower
44 St George's Terrace
Perth, WA 6000
(PO Box Z5046, Perth WA 6831)
Australia
Telephone: +61 8 9425 4602
Fax: +61 8 9425 4662

Ghana
Gold House
Patrice Lumumba Road
(P O Box 2665)
Accra
Ghana
Telephone: +233 21 772190
Fax: +233 21 778155

United Kingdom Secretaries
St James's Corporate Services Limited
6 St James's Place
London SW1A 1NP
England
Telephone: +44 20 7499 3916
Fax: +44 20 7491 1989
E-mail: jane.kirton@corpserv.co.uk

Directors

Executive
R M Godsell (Chief Executive Officer)
R Carvalho Silva !
N F Nicolau
S Venkatakrishnan *

Non-Executive
R P Edey * (Chairman)
Dr T J Motlatsi (Deputy Chairman)
F B Arisman

R E Bannerman**
Mrs E le R Bradley
C B Brayshaw
Dr S E Jonah KBE**
R Médori

(Alternate: P G Whitcutt)

J H Mensah**
W A Nairn (Alternate: A H Calver *)
Prof W L Nkuhlu
S R Thompson *
A J Trahar

* British

American

**Ghanaian

~ French

! Brazilian

Officers
Managing Secretary: Ms Y Z Simelane
Company Secretary: Ms L Eatwell

Contacts

South Africa
Charles Carter
Telephone: +27 11 637 6385
Fax: +27 11 637 6400
E-mail: cecarter@AngloGoldAshanti.com

Michael Clements
Telephone: +27 11 637 6647
Fax: +27 11 637 6400
E-mail:
mclements@AngloGoldAshanti.com

General E-mail enquiries
investors@AngloGoldAshanti.com

AngloGold Ashanti website
http://www.AngloGoldAshanti.com

PRINTED BY INCE (PTY) LIMITED

Share Registrars

South Africa
Computershare Investor Services 2004
(Pty) Limited
Ground Floor, 70 Marshall Street
Johannesburg 2001
(PO Box 61051, Marshalltown 2107)
South Africa
Telephone: 0861 100 950 (in SA)
Fax: +27 11 688 5218
web.queries@computershare.co.za

United Kingdom
Computershare Investor Services PLC
P O Box 82
The Pavilions
Bridgwater Road
Bristol BS99 7NH
England
Telephone: +44 870 889 3177
Fax: +44 870 703 6119

Australia
Computershare Investor Services Pty
Limited
Level 2, 45 St George's Terrace
Perth, WA 6000
(GPO Box D182 Perth, WA 6840)
Australia
Telephone: +61 8 9323 2000
Telephone: 1300 55 7010 (in Australia)
Fax: +61 8 9323 2033

Ghana
NTHC Limited
Martco House
Off Kwame Nkrumah Avenue
POBox K1A 9563 Airport
Accra
Ghana
Telephone: +233 21 238492-3
Fax: +233 21 229975

ADR Depositary
The Bank of New York ("BoNY")
Investor Services, P O Box 11258
Church Street Station
New York, NY 10286-1258
United States of America
Telephone: +1 888 269 2377 (Toll free
in USA) or +9 610 382 7836 outside
USA)
E-mail: shareowners@bankofny.com
Website: http://www.stockbny.com

Global BuyDIRECT

BoNY maintains a direct share purchase
and dividend reinvestment plan for
ANGLOGOLD ASHANTI

Telephone: +1-888-BNY-ADRS

SIGNATURES

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

AngloGold Ashanti Limited

Date: February 13, 2007

By:

/s/ L Eatwell

Name: Lynda Eatwell
Title: Company Secretary