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 July 31, 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.
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):
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):
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.
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 six months ended 30 June
2007, prepared in accordance with International Accounting Standards
Quarter 2 2007
Report
for the quarter and six months ended 30 June 2007
Group results for the quarter ….
· Adjusted headline earnings of $82m compared with $98m in the previous quarter, due to stronger local operating
currencies, higher exploration spend and continued hedge book reduction
currencies, higher exploration spend and continued hedge book reduction
·
Gold production up slightly to 1.35Moz and total cash costs steady at $333/oz
· Price received increased slightly to $605/oz, 9% lower than the average spot price for the quarter, with hedge delta
reduced by 840,000oz to 8.75Moz
· Price received increased slightly to $605/oz, 9% lower than the average spot price for the quarter, with hedge delta
reduced by 840,000oz to 8.75Moz
·
Interim dividend of 90 South African cents (13 US cents) per share declared
· CEO Bobby Godsell announces his retirement; Mark Cutifani named as his successor
· CEO Bobby Godsell announces his retirement; Mark Cutifani named as his successor
Quarter
Six months
Quarter
Six months
ended
June
2007
ended
March
2007
ended
June
2007
ended
June
2006
ended
June
2007
ended
March
2007
ended
June
2007
ended
June
2006
SA rand / Metric
US dollar / Imperial
Operating review
Gold
Produced
- kg / oz (000)
41,958
41,239
83,198 85,691
1,349
1,326
2,675
2,755
Price received
1
- R/kg / $/oz
137,579
139,953
138,807 116,683
605
602
604
573
Total cash costs
- R/kg / $/oz
75,724
76,991
76,406 62,181
333
332
333
307
Total production costs
- R/kg / $/oz
99,734
99,905
99,872 83,767
439
430
435
413
Financial review
Gross profit (loss)
- R / $ million
1,930
778
2,708
(921)
231
147
378
(39)
Gross profit adjusted for the profit (loss)
on unrealised non-hedge derivatives
on unrealised non-hedge derivatives
and other commodity contracts
2
- R / $ million
1,688
1,832
3,520 3,228
239
253
492
506
Profit (loss) attributable to equity
shareholders
shareholders
- R / $ million
1,083
(150)
933
(2,126)
111
19
131
(241)
Headline earnings (loss) ³
- R / $ million
1,070
(130)
940
(2,159)
109
22
132
(245)
Headline earnings adjusted for the profit (loss)
on unrealised non-hedge derivatives,
other commodity contracts and fair value
adjustments on convertible bond
other commodity contracts and fair value
adjustments on convertible bond
4
- R / $ million
583
707
1,290
1,436
82
98
180
225
Capital expenditure
- R / $ million
1,979
1,417
3,396
2,130
279
196
476
337
Earnings (loss) per ordinary share - cents/share
Basic
Basic
385
(53)
332
(790)
39
7
47
(90)
Diluted
384
(53)
331
(788)
39
7
46
(89)
Headline
³
380
(46)
334
(802)
39
8
47
(91)
Headline earnings adjusted for the profit (loss)
on unrealised non-hedge derivatives,
other commodity contracts and fair value
adjustments on convertible bond
other commodity contracts and fair value
adjustments on convertible bond
4
- cents/share
207
251
459
534
29
35
64
84
Dividends
- cents/share
90
210
13
29
Notes:
1.
Refer to note D of “Non-GAAP disclosure” for the definition.
2.
Refer to note B of “Non-GAAP disclosure” for the definition.
3.
Refer to note 8 of “Notes” for the definition.
4.
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.
Rounding of figures may result in computational discrepancies.
Operations at a glance
for the quarter ended 30 June 2007
Production
Total cash costs
Cash gross profit
1
Gross profit (loss)
adjusted for the profit
(loss) on unrealised
non-hedge derivatives
and other commodity
contracts
2
oz (000)
%
Variance ³
$/oz
%
Variance ³
$m
%
Variance ³
$m
%
Variance ³
Mponeng
154
8
247
(4)
53
8
41
5
Sunrise Dam
149
1
295
(1)
42
(2)
30
(6)
Great Noligwa
125
1
320
(12)
35
17
22
16
Kopanang
101
5
294
(1)
31
7
23
5
TauTona
99
3
311
11
29
(6)
15
(25)
AngloGold Ashanti Mineração
73
11
249
20
26
4
19
(10)
Geita
82
5
337
(25)
24
200
11
650
Cripple Creek & Victor
69
8
249
3
23
-
16
7
Cerro Vanguardia
4
50
(4)
256
36
19
(5)
13
(7)
Obuasi
92
(9)
452
14
15
(25)
1
(80)
Iduapriem
4
43
59
293
(36)
13
225
9
200
Yatela
4
33
(6)
232
7
12
(14)
11
(8)
Serra Grande
4
24
-
263
13
8
(20)
6
(25)
Siguiri
4
64
(12)
500
20
7
(46)
-
(100)
Morila
4
35
(15)
410
15
7
(36)
4
(50)
Sadiola
4
34
10
404
(7)
7
-
6
-
Tau Lekoa
39
(9)
469
9
5
(29)
(1)
(200)
Navachab
20
-
349
(5)
5
-
4
-
Savuka
18
-
431
21
3
(40)
1
(67)
Moab Khotsong
13
(7)
695
20
(1)
-
(6)
(50)
Other
33
-
19
(41)
14
(44)
AngloGold Ashanti
1,349
2
333
-
382
(1)
239
(6)
1
Refer to note F of “Non-GAAP disclosure” for the definition.
2
Refer to note B of “Non-GAAP disclosure” for the definition.
3
Variance June 2007 quarter on March 2007 quarter – increase (decrease).
4
Attributable.
Rounding of figures may result in computational discrepancies.
Letter from the chairman
Dear Shareholders
The AngloGold Ashanti board announces that Bobby Godsell will be retiring from the company and
the board with effect from 30 September, 2007. Bobby has been with the Anglo American Group
since 1974, was appointed Chief Executive Officer of the Gold and Uranium Division of Anglo
American in July 1995 and Chief Executive Officer of AngloGold Ashanti in April 1998.
We also announce the appointment of Mark Cutifani as Bobby’s successor. Mark is an Australian
mining engineer who currently holds the position of Chief Operating Officer at CVRD Inco where he
has responsibility for CVRD Inco’s global nickel business. He will take up his new position in mid-
September 2007.
The board and management of AngloGold Ashanti are very fortunate to have had the benefits of
Bobby’s leadership and inspiration for the past 12 years. His career with the Anglo Group has
been characterised by his clear vision of ethics and business and how the two combine in the
interests of shareholder value, equity and the growth of democracy. I have no doubt that he will
continue to make a contribution to South Africa and this continent in whatever course he chooses
now to follow.
I am also confident that Mark Cutifani is a person with the necessary technical, financial and
socially responsible business experience to meet the challenges which face AngloGold Ashanti in
the years to come.
Additionally, we also announce that Roberto Carvalho Silva, after more than thirty years with the
Anglo American Group, has decided to leave AngloGold Ashanti in September. The board and
management wish him well in his future pursuits. Neville Nicolau will become the Chief Operating
Officer of the company with responsibility for all operations. Mr Carvalho Silva will assist
Mr Nicolau in the consolidation of the two operating regions, which will commence as soon as
possible.
Yours sincerely,
R P EDEY
Chairman
Financial and operating review
OVERVIEW FOR THE QUARTER
Adjusted headline earnings were $82m compared
with $98m in the first quarter. The reduction
quarter-on-quarter was primarily due to stronger
local operating currencies, higher exploration
spend and continued hedge book reduction. The
received gold price, whilst slightly up on the prior
quarter at $605/oz, was 9% lower than the
average spot price of $666/oz as the company
continued to reduce its hedge book. As at 30 June
the hedge delta was 8.75Moz, as compared to
9.59Moz at 31 March, based on spot prices at
quarter end of $649/oz and $663/oz, respectively.
with $98m in the first quarter. The reduction
quarter-on-quarter was primarily due to stronger
local operating currencies, higher exploration
spend and continued hedge book reduction. The
received gold price, whilst slightly up on the prior
quarter at $605/oz, was 9% lower than the
average spot price of $666/oz as the company
continued to reduce its hedge book. As at 30 June
the hedge delta was 8.75Moz, as compared to
9.59Moz at 31 March, based on spot prices at
quarter end of $649/oz and $663/oz, respectively.
The June quarter was marked by a steady
operational performance with production 2%
better at 1.35Moz. Total cash costs, at $333/oz,
were in line with those of the previous quarter,
largely due to the appreciation of local operating
currencies, including a 2% strengthening in the
South African rand, 5% strengthening of the
Australian dollar and a 7% strengthening of the
Brazilian real against the dollar.
operational performance with production 2%
better at 1.35Moz. Total cash costs, at $333/oz,
were in line with those of the previous quarter,
largely due to the appreciation of local operating
currencies, including a 2% strengthening in the
South African rand, 5% strengthening of the
Australian dollar and a 7% strengthening of the
Brazilian real against the dollar.
Operationally, the South African assets had a
mixed quarter, with lower recovered grades
mitigating the effect of higher volumes at most
mines and resulting in 2% improvements in both
production and total cash costs, which declined to
R71,551/kg. Individually, Kopanang, Mponeng
and TauTona all reported solid production
increases, while Great Noligwa and Savuka
posted steady production. Moab Khotsong and
Tau Lekoa, however, saw production decreases
of 11% and 8% respectively.
mixed quarter, with lower recovered grades
mitigating the effect of higher volumes at most
mines and resulting in 2% improvements in both
production and total cash costs, which declined to
R71,551/kg. Individually, Kopanang, Mponeng
and TauTona all reported solid production
increases, while Great Noligwa and Savuka
posted steady production. Moab Khotsong and
Tau Lekoa, however, saw production decreases
of 11% and 8% respectively.
Of the other African assets, good operational
performances were recorded at Iduapriem, where
production increased 59% and total cash costs
declined 36%; at Sadiola, where production was
10% higher and total cash costs 7% lower; and at
Geita, where production and total cash costs
improved by 5% and 25%, respectively. Morila
and Yatela reported production declines of 15%
and 6%, while power disruptions and maintenance
shut-downs at Siguiri combined with a 5% grade
decline, resulted in a 12% decrease in production.
performances were recorded at Iduapriem, where
production increased 59% and total cash costs
declined 36%; at Sadiola, where production was
10% higher and total cash costs 7% lower; and at
Geita, where production and total cash costs
improved by 5% and 25%, respectively. Morila
and Yatela reported production declines of 15%
and 6%, while power disruptions and maintenance
shut-downs at Siguiri combined with a 5% grade
decline, resulted in a 12% decrease in production.
Regarding the international operations, Cerro
Vanguardia in Argentina had a difficult quarter, with
production 4% lower and total cash costs 36%
higher due in part to a lower silver by-product credit
and increased consumption of mining supplies.
Vanguardia in Argentina had a difficult quarter, with
production 4% lower and total cash costs 36%
higher due in part to a lower silver by-product credit
and increased consumption of mining supplies.
In Brazil, production remained steady at Serra
Grande and increased 11% at AngloGold Ashanti
Brasil Mineração due to the commissioning of the
Cuiabá expansion, although total cash costs at
both operations were negatively affected by the
appreciation of the Brazilian real over the quarter.
At Sunrise Dam in Australia, production was in
line with that of the previous quarter and total
cash costs were 7% lower, while Cripple Creek &
Victor, in the US, reported a 3% increase in total
cash costs due to higher fuel prices, despite an
8% production improvement.
Grande and increased 11% at AngloGold Ashanti
Brasil Mineração due to the commissioning of the
Cuiabá expansion, although total cash costs at
both operations were negatively affected by the
appreciation of the Brazilian real over the quarter.
At Sunrise Dam in Australia, production was in
line with that of the previous quarter and total
cash costs were 7% lower, while Cripple Creek &
Victor, in the US, reported a 3% increase in total
cash costs due to higher fuel prices, despite an
8% production improvement.
Following the poor safety start to 2007, a full
safety review commenced, focusing on new
outcome-based initiatives. TauTona, which had a
particularly difficult 2006 safety year, has made
good progress and remains fatality-free to date for
2007. Despite the injury-free performances
reported by Morila, Iduapriem, Siguiri and
Navachab for the quarter, the company’s lost time
injury frequency rate nevertheless deteriorated by
15% to 9.08 per million hours worked and remains
a key focus for improvement going forward.
safety review commenced, focusing on new
outcome-based initiatives. TauTona, which had a
particularly difficult 2006 safety year, has made
good progress and remains fatality-free to date for
2007. Despite the injury-free performances
reported by Morila, Iduapriem, Siguiri and
Navachab for the quarter, the company’s lost time
injury frequency rate nevertheless deteriorated by
15% to 9.08 per million hours worked and remains
a key focus for improvement going forward.
During the quarter, AngloGold Ashanti completed
a transaction with Trans-Siberian Gold (TSG), in
which it currently holds a 29.9% stake, to
purchase two exploration companies from TSG for
$40m. The exploration companies consist of
Amikan (which holds the Veduga deposit and
related exploration and mining licences) and
AS APK (which holds the Bogunay deposit and
related exploration and mining licenses).
a transaction with Trans-Siberian Gold (TSG), in
which it currently holds a 29.9% stake, to
purchase two exploration companies from TSG for
$40m. The exploration companies consist of
Amikan (which holds the Veduga deposit and
related exploration and mining licences) and
AS APK (which holds the Bogunay deposit and
related exploration and mining licenses).
Together, the companies will form part of
AngloGold Ashanti’s initial contribution towards its
strategic alliance with Polymetal as announced on
21 September 2006.
AngloGold Ashanti’s initial contribution towards its
strategic alliance with Polymetal as announced on
21 September 2006.
A dividend of 90 South African cents (13 US
cents) per share has been declared on ordinary
shares for the six months ended 30 June 2007.
cents) per share has been declared on ordinary
shares for the six months ended 30 June 2007.
Looking ahead, production for the third quarter is
estimated to be 1.48Moz at an average total cash
cost of $330/oz, assuming the following exchange
rates: R7.15/$, A$/$0.84, BRL1.95/$ and
Argentinean peso 3.11/$. Capital expenditure is
estimated at $332m and will be managed in line
with profitability and cash flow.
estimated to be 1.48Moz at an average total cash
cost of $330/oz, assuming the following exchange
rates: R7.15/$, A$/$0.84, BRL1.95/$ and
Argentinean peso 3.11/$. Capital expenditure is
estimated at $332m and will be managed in line
with profitability and cash flow.
OPERATING RESULTS FOR THE QUARTER
SOUTH AFRICA
At Great Noligwa, improved face advance and
face length resulted in a 10% volume increase for
the quarter. However, yield was 9% lower and
resulted in a steady gold production at 3,876kg
(125,000oz). Total cash costs improved by 13% to
R72,747/kg ($320/oz), as a result of the lower
uranium by-product loss. Adjusted gross profit
was 13% higher at R158m ($22m), primarily due
to improved by-product contribution.
face length resulted in a 10% volume increase for
the quarter. However, yield was 9% lower and
resulted in a steady gold production at 3,876kg
(125,000oz). Total cash costs improved by 13% to
R72,747/kg ($320/oz), as a result of the lower
uranium by-product loss. Adjusted gross profit
was 13% higher at R158m ($22m), primarily due
to improved by-product contribution.
The Lost-Time Injury Frequency Rate (LTIFR)
was 16.08 lost-time injuries per million hours
worked (16.13 for the previous quarter).
was 16.08 lost-time injuries per million hours
worked (16.13 for the previous quarter).
Production at Kopanang was 6% higher at
3,156kg (101,000oz) primarily due to a 10%
increase in volume, partially offset by a 4% lower
yield, after seismicity curtailed access to higher
grade material.
3,156kg (101,000oz) primarily due to a 10%
increase in volume, partially offset by a 4% lower
yield, after seismicity curtailed access to higher
grade material.
Total cash costs consequently decreased 4% to
R66,677/kg ($294/oz) and adjusted gross profit, at
R161m ($23m), was marginally higher than the
previous quarter primarily due to the higher gold
production.
R66,677/kg ($294/oz) and adjusted gross profit, at
R161m ($23m), was marginally higher than the
previous quarter primarily due to the higher gold
production.
The LTIFR was 14.18 (16.21).
Volume mined at Moab Khotsong was 9%
higher, however gold yield was 18% lower due to
increased off-reef mining and stoping width to
negotiate dip faults. As a result, gold produced
declined 11% quarter-on-quarter to 392kg
(13,000oz). Total cash costs were 18% higher at
R157,986/kg ($695/oz) and adjusted gross loss
increased to R44m ($6m) due to the lower gold
production.
higher, however gold yield was 18% lower due to
increased off-reef mining and stoping width to
negotiate dip faults. As a result, gold produced
declined 11% quarter-on-quarter to 392kg
(13,000oz). Total cash costs were 18% higher at
R157,986/kg ($695/oz) and adjusted gross loss
increased to R44m ($6m) due to the lower gold
production.
The LTIFR was 14.38 (12.27).
At Tau Lekoa, volume improved by 7% from the
previous quarter, while yield was 14% lower due
to gold lock-up emanating from a mill liner
replacement in the previous quarter. This resulted
in gold production declining 8% to 1,223kg
(39,000oz) and consequently, total cash costs
increased 7% to R106,673/kg ($469/oz).
previous quarter, while yield was 14% lower due
to gold lock-up emanating from a mill liner
replacement in the previous quarter. This resulted
in gold production declining 8% to 1,223kg
(39,000oz) and consequently, total cash costs
increased 7% to R106,673/kg ($469/oz).
The adjusted gross loss of R6m ($1m) was
incurred against a profit of R10m ($1m) in the
previous quarter due to the lower gold produced.
incurred against a profit of R10m ($1m) in the
previous quarter due to the lower gold produced.
The LTIFR was 29.37 (11.14). Regrettably, two
people died during the quarter.
people died during the quarter.
At Mponeng, a combination of higher volume
from improved face advance and a marginally
higher yield resulted in an 8% production
improvement to 4,778kg (154,000oz). Total cash
costs were 5% lower at R56,082/kg ($247/oz).
Adjusted gross profit increased 5% to R293m
($41m), primarily due to the higher production.
from improved face advance and a marginally
higher yield resulted in an 8% production
improvement to 4,778kg (154,000oz). Total cash
costs were 5% lower at R56,082/kg ($247/oz).
Adjusted gross profit increased 5% to R293m
($41m), primarily due to the higher production.
The LTIFR was 15.27 (11.96). Regrettably, one
person died in a fall of ground accident.
person died in a fall of ground accident.
Production at Savuka was 3% lower at 552kg
(18,000oz) as a result of grade dilution related to
increased development. Total cash costs were
19% higher at R97,989/kg ($431/oz) due to
additional expenditure on infrastructure
maintenance. Adjusted gross profit decreased to
R10m ($1m).
(18,000oz) as a result of grade dilution related to
increased development. Total cash costs were
19% higher at R97,989/kg ($431/oz) due to
additional expenditure on infrastructure
maintenance. Adjusted gross profit decreased to
R10m ($1m).
The LTIFR was 41.11 (10.08).
At TauTona, production improved 3% to 3,075kg
(99,000oz), with a 6% decline in yield offset by
10% higher volumes. Total cash costs increased
by 9% to R70,629/kg ($311/oz) due to higher
power costs (winter tariffs) and increased
expenditure on labour and consumables. Adjusted
gross profit decreased 27% to R105m ($15m).
(99,000oz), with a 6% decline in yield offset by
10% higher volumes. Total cash costs increased
by 9% to R70,629/kg ($311/oz) due to higher
power costs (winter tariffs) and increased
expenditure on labour and consumables. Adjusted
gross profit decreased 27% to R105m ($15m).
The LTIFR was 16.48 (23.71).
ARGENTINA
At Cerro Vanguardia (92.5% attributable), gold
production decreased 4% to 50,000oz, primarily
due to lower feed grade. Total cash costs rose
36% to $256/oz as a result of the lower gold
production, reduced silver by-product credit and
increase consumption of mining supplies.
Adjusted gross profit decreased 7% to $13m due
to the lower gold sold and higher total cash cost.
production decreased 4% to 50,000oz, primarily
due to lower feed grade. Total cash costs rose
36% to $256/oz as a result of the lower gold
production, reduced silver by-product credit and
increase consumption of mining supplies.
Adjusted gross profit decreased 7% to $13m due
to the lower gold sold and higher total cash cost.
The LTIFR was 1.87 (2.27).
AUSTRALIA
At Sunrise Dam, mining continued in the higher
grade areas and production was 1% higher at
149,000oz, despite lower tonnes treated as a
consequence of harder ore. Total cash costs
decreased by 7% to A$355/oz ($295/oz) as a
result of higher grades. Adjusted gross profit
declined 12% to A$36m ($30m), partially due to a
lower price received.
grade areas and production was 1% higher at
149,000oz, despite lower tonnes treated as a
consequence of harder ore. Total cash costs
decreased by 7% to A$355/oz ($295/oz) as a
result of higher grades. Adjusted gross profit
declined 12% to A$36m ($30m), partially due to a
lower price received.
At the underground project, mining continues to
access the high-grade Western Shear zone ore.
Development is also accessing further ore in the
Cosmo, Dolly, and Mako lodes. During the
quarter, 299m of underground capital
development and 1,491m of operational
development were completed.
access the high-grade Western Shear zone ore.
Development is also accessing further ore in the
Cosmo, Dolly, and Mako lodes. During the
quarter, 299m of underground capital
development and 1,491m of operational
development were completed.
The LTIFR was 2.69 (2.63).
BRAZIL
At
AngloGold Ashanti Brasil Mineração,
production rose 11% to 73,000oz due to the end
of the rainy season and the commissioning of the
Cuiabá expansion. Total cash costs rose 20% to
$249/oz, primarily due to local currency
appreciation, lower grades and higher operating
costs related to the commissioning of the Cuiabá
expansion, partially offset by a higher acid by-
product credit. Adjusted gross profit declined 10%
to $19m, mainly due to lower gold sold and higher
total cash costs.
of the rainy season and the commissioning of the
Cuiabá expansion. Total cash costs rose 20% to
$249/oz, primarily due to local currency
appreciation, lower grades and higher operating
costs related to the commissioning of the Cuiabá
expansion, partially offset by a higher acid by-
product credit. Adjusted gross profit declined 10%
to $19m, mainly due to lower gold sold and higher
total cash costs.
The LTIFR was 1.15 (3.15).
At Serra Grande (50% attributable), gold
production remained steady at 24,000oz although
total cash costs were 13% higher to $263oz due
to local currency appreciation and increased
power consumption. Adjusted gross profit
decreased 25% to $6m mainly as a result of lower
gold sold and higher costs.
production remained steady at 24,000oz although
total cash costs were 13% higher to $263oz due
to local currency appreciation and increased
power consumption. Adjusted gross profit
decreased 25% to $6m mainly as a result of lower
gold sold and higher costs.
The LTIFR was 5.84 (2.12). Regrettably, one
person died in a rockfall accident, making this the
first fatal accident for the operation since
AngloGold Ashanti’s formation in 1998.
person died in a rockfall accident, making this the
first fatal accident for the operation since
AngloGold Ashanti’s formation in 1998.
GHANA
At Iduapriem (85% attributable), the defective
gearbox that reduced production in the first
quarter was repaired and production increased
59% to 43,000oz. Total cash costs consequently
decreased 36% to $293/oz, while adjusted gross
profit rose significantly to $9m versus $3m in the
previous quarter.
gearbox that reduced production in the first
quarter was repaired and production increased
59% to 43,000oz. Total cash costs consequently
decreased 36% to $293/oz, while adjusted gross
profit rose significantly to $9m versus $3m in the
previous quarter.
LTIFR was 0.00 (1.09)
At Obuasi, despite marginally higher tonnage,
gold production was 9% lower at 92,000oz due to
lower recovered grade. The lower production led
to total cash costs increasing by 14% to $452/oz.
Adjusted gross profit decreased to $1m,
compared with $5m in the previous quarter,
primarily due to the lower production.
gold production was 9% lower at 92,000oz due to
lower recovered grade. The lower production led
to total cash costs increasing by 14% to $452/oz.
Adjusted gross profit decreased to $1m,
compared with $5m in the previous quarter,
primarily due to the lower production.
The LTIFR was 1.89 (1.54).
REPUBLIC OF GUINEA
Production at Siguiri (85% attributable) was 12%
lower to 64,000oz, primarily as a result of internal
power disruptions, maintenance shut-downs and a
5% decline in grade. Total cash costs
consequently increased 20% to $500/oz and the
company is currently in discussion with the
Guinean government on the treatment of fuel
prices and exchange rates, which also contributed
to the cost increases experienced at the mine this
quarter. Adjusted gross profit was at break-even
level against $5m in the previous quarter.
lower to 64,000oz, primarily as a result of internal
power disruptions, maintenance shut-downs and a
5% decline in grade. Total cash costs
consequently increased 20% to $500/oz and the
company is currently in discussion with the
Guinean government on the treatment of fuel
prices and exchange rates, which also contributed
to the cost increases experienced at the mine this
quarter. Adjusted gross profit was at break-even
level against $5m in the previous quarter.
The LTIFR was 0.00 (0.00)
MALI
At Morila (40% attributable), production
decreased 15% to 35,000oz due to a 15% decline
in recovered grade, attributable to a lower grade
blend of material. Total cash costs consequently
increased 15% to $410/oz and adjusted gross
profit, at $4m, was 50% lower due to the decline
in production.
in recovered grade, attributable to a lower grade
blend of material. Total cash costs consequently
increased 15% to $410/oz and adjusted gross
profit, at $4m, was 50% lower due to the decline
in production.
The LTIFR was 0.00 (0.00).
At Sadiola (38% attributable), production was
10% higher to 34,000oz due to increases in both
tonnage throughput and recovered grades.
10% higher to 34,000oz due to increases in both
tonnage throughput and recovered grades.
Although improved recovery from the sulphide
ores was achieved this quarter, planned
recoveries are not yet being realised. Significant
nickel and other base metal content associated
with high grade sulphides has been diagnosed as
a cause of lower elution efficiencies and the effect
of this on future recovery assumptions is being
tested.
ores was achieved this quarter, planned
recoveries are not yet being realised. Significant
nickel and other base metal content associated
with high grade sulphides has been diagnosed as
a cause of lower elution efficiencies and the effect
of this on future recovery assumptions is being
tested.
Total cash costs decreased by 7% to $404/oz due
to improved gold production, although sales
declined by 3,000oz due to the timing of the final
gold shipment and consequently adjusted gross
profit remained constant at $6m.
to improved gold production, although sales
declined by 3,000oz due to the timing of the final
gold shipment and consequently adjusted gross
profit remained constant at $6m.
The LTIFR was 0.88 (1.79).
Production decreased 6% at Yatela (40%
attributable), to 33,000oz despite a 17% increase
in tonnage stacked, which was partially offset by
the release of lower-grade ounces stacked in the
previous quarter. Total cash costs were
consequently 7% higher to $232/oz and adjusted
gross profit decreased 8% to $11m due to the
decline in production.
attributable), to 33,000oz despite a 17% increase
in tonnage stacked, which was partially offset by
the release of lower-grade ounces stacked in the
previous quarter. Total cash costs were
consequently 7% higher to $232/oz and adjusted
gross profit decreased 8% to $11m due to the
decline in production.
The LTIFR was 1.46 (0.00).
NAMIBIA
Gold production at Navachab was unchanged
quarter-on-quarter at 20,000oz, with a decrease in
tonnage throughput offsetting the effect of an
increase in recovered grade. Total cash costs, at
$349/oz, were 5% lower due to the
implementation of cost saving initiatives, while
adjusted gross profit was equal to last quarter’s
level of $4m.
quarter-on-quarter at 20,000oz, with a decrease in
tonnage throughput offsetting the effect of an
increase in recovered grade. Total cash costs, at
$349/oz, were 5% lower due to the
implementation of cost saving initiatives, while
adjusted gross profit was equal to last quarter’s
level of $4m.
The LTIFR was 0.00 (12.83).
TANZANIA
After the slope failure in the Nyankanga pit in the
first quarter which significantly reduced the
production outlook for the year, production at
Geita for the second quarter was 5% higher at
82,000oz and grade improved 23%. Volume was
14% lower, however, after tonnage throughput
was adversely affected during the quarter by
damage to the ball mill discharge, which resulted
in considerable mill downtime, and the treatment
of harder ore. Total cash costs were 25% lower at
$337/oz and adjusted gross profit was $11m,
versus a loss of $2m in the previous quarter,
primarily as a result of the higher production.
first quarter which significantly reduced the
production outlook for the year, production at
Geita for the second quarter was 5% higher at
82,000oz and grade improved 23%. Volume was
14% lower, however, after tonnage throughput
was adversely affected during the quarter by
damage to the ball mill discharge, which resulted
in considerable mill downtime, and the treatment
of harder ore. Total cash costs were 25% lower at
$337/oz and adjusted gross profit was $11m,
versus a loss of $2m in the previous quarter,
primarily as a result of the higher production.
The LTIFR was 1.44 (0.74).
NORTH AMERICA
At Cripple Creek & Victor (67% ownership with
100% interest in production until initial loans are
repaid), gold production increased 8% to
69,000oz. Total cash costs increased 3% to
$249/oz, partially due to the lower ounces placed
on the heap leach pad and higher fuel costs.
Adjusted gross profit increased 7% to $16m as a
result of the higher production.
100% interest in production until initial loans are
repaid), gold production increased 8% to
69,000oz. Total cash costs increased 3% to
$249/oz, partially due to the lower ounces placed
on the heap leach pad and higher fuel costs.
Adjusted gross profit increased 7% to $16m as a
result of the higher production.
The LTIFR was 5.01 (0.00).
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.
Ashanti.
·
Adjusted gross profit (loss) is gross profit (loss) adjusted to exclude unrealised non-hedge derivatives and other commodity
contracts.
contracts.
·
Adjusted headline earnings is headline earnings before unrealised non-hedge derivatives and other commodity contracts, fair
value adjustments on the option component of the convertible bond and deferred tax thereon.
value adjustments on the option component of the convertible bond and deferred tax thereon.
·
Rounding of figures may result in computational discrepancies.
Review of the gold market
A strong start to the quarter saw the gold price
trade up to $690/oz, however on the back of a
slightly stronger US dollar and what is normally a
seasonally quiet period for gold, the price then
traded down to a low of $640/oz and ended the
quarter at $648/oz. The gold price averaged
$666/oz for the quarter, marginally higher that the
previous quarter’s $650/oz.
trade up to $690/oz, however on the back of a
slightly stronger US dollar and what is normally a
seasonally quiet period for gold, the price then
traded down to a low of $640/oz and ended the
quarter at $648/oz. The gold price averaged
$666/oz for the quarter, marginally higher that the
previous quarter’s $650/oz.
The rand gold price averaged R151,392/kg for the
quarter, marginally higher than the previous
quarter’s average of R150,698/kg. The
strengthening of the Australian dollar saw the gold
price average A$802/oz for the quarter, some 3%
lower than the A$826/oz of the previous quarter.
quarter, marginally higher than the previous
quarter’s average of R150,698/kg. The
strengthening of the Australian dollar saw the gold
price average A$802/oz for the quarter, some 3%
lower than the A$826/oz of the previous quarter.
PHYSICAL MARKET
The increased gold price stability of the first quarter
of 2007 led to a 17% improvement in jewellery
demand, with indications that second quarter
buying was also healthy. Gold sales at the April
Akshaya Thritiya festival in India – one of the most
important gold-buying events of the year – were
reported to have been substantially higher than
those of the previous year, when volatility rose to
nearly 40%. It appears that provided the relative
price stability of 2007 continues, jewellery demand
is expected to remain strong throughout the year,
even at prices in the mid-to-high $600/oz range,
and particularly given the rising income levels of
main jewellery-buying areas such as India, China
and the Middle East.
of 2007 led to a 17% improvement in jewellery
demand, with indications that second quarter
buying was also healthy. Gold sales at the April
Akshaya Thritiya festival in India – one of the most
important gold-buying events of the year – were
reported to have been substantially higher than
those of the previous year, when volatility rose to
nearly 40%. It appears that provided the relative
price stability of 2007 continues, jewellery demand
is expected to remain strong throughout the year,
even at prices in the mid-to-high $600/oz range,
and particularly given the rising income levels of
main jewellery-buying areas such as India, China
and the Middle East.
In an effort to help spur on this demand, the World
Gold Council (WGC) this quarter launched a new
international consumer advertising campaign,
“Only Gold”, in conjunction with major retailers and
manufacturers in the US and China. The roll-out of
this campaign to Europe and India is planned for
later in the year, with early indications that
acceptance by retailers to allocate spend to these
campaigns is growing.
Gold Council (WGC) this quarter launched a new
international consumer advertising campaign,
“Only Gold”, in conjunction with major retailers and
manufacturers in the US and China. The roll-out of
this campaign to Europe and India is planned for
later in the year, with early indications that
acceptance by retailers to allocate spend to these
campaigns is growing.
CENTRAL BANK SALES
The second quarter saw continued central bank
gold sales, with signatories of the second Central
Bank Gold Agreement (CBGA2), including Spain,
gold sales, with signatories of the second Central
Bank Gold Agreement (CBGA2), including Spain,
France and the European Central Bank selling a
total of 267t during the period and bringing the total
sales for the third year of the CBGA2 to 301t by the
end of June. Significantly, the Swiss National
Bank also announced in June that it will adjust the
composition of its reserves by selling 250t of gold
before the end of the CBGA2 in September 2009,
which may result in higher central bank sales for
2007 compared with those of 2006.
total of 267t during the period and bringing the total
sales for the third year of the CBGA2 to 301t by the
end of June. Significantly, the Swiss National
Bank also announced in June that it will adjust the
composition of its reserves by selling 250t of gold
before the end of the CBGA2 in September 2009,
which may result in higher central bank sales for
2007 compared with those of 2006.
Speculation that the IMF will sell 400t of gold (out
of its total reserves of 3,217t) remains, but as the
sale is expected to be carried out under the terms
of the CBGA2 agreement, market impact of such a
decision is likely to be minimal.
of its total reserves of 3,217t) remains, but as the
sale is expected to be carried out under the terms
of the CBGA2 agreement, market impact of such a
decision is likely to be minimal.
INVESTMENT MARKET
Despite relatively limited activity in the gold ETFs
over the quarter, investment in the WGC-backed
Exchange Traded Gold ETFs, notably the GLD in
New York and Singapore, GBS in London and
Paris, GOLD in Australia and New Gold
Debentures in Johannesburg, remained strong,
representing a total of 19Moz (590t), or the
equivalent of $12.5bn. Secondary listings of GBS
took place in Italy and Germany over the quarter
and plans are in place for further listings in Europe
and Asia later this year.
over the quarter, investment in the WGC-backed
Exchange Traded Gold ETFs, notably the GLD in
New York and Singapore, GBS in London and
Paris, GOLD in Australia and New Gold
Debentures in Johannesburg, remained strong,
representing a total of 19Moz (590t), or the
equivalent of $12.5bn. Secondary listings of GBS
took place in Italy and Germany over the quarter
and plans are in place for further listings in Europe
and Asia later this year.
INDUSTRIAL MARKET
The increasingly positive trends in industrial
demand for gold over the last few years have
continued, with particularly buoyant demand from
the electronics industry in the Far East for gold-
based products rising 5% over the past three
years. Demand has been further driven by
increased consumer demand for personal
computers and mobile phones, which contain
varying amounts of gold. Despite the best efforts
by manufacturers to ‘thrift’ on gold usage, demand
for gold in this sector has reached record highs.
New advances in the potential industrial uses of
gold may also suggest a further strengthening in
industrial demand, as highlighted this quarter by
the announcement of a new emission and pollution
control system containing gold.
demand for gold over the last few years have
continued, with particularly buoyant demand from
the electronics industry in the Far East for gold-
based products rising 5% over the past three
years. Demand has been further driven by
increased consumer demand for personal
computers and mobile phones, which contain
varying amounts of gold. Despite the best efforts
by manufacturers to ‘thrift’ on gold usage, demand
for gold in this sector has reached record highs.
New advances in the potential industrial uses of
gold may also suggest a further strengthening in
industrial demand, as highlighted this quarter by
the announcement of a new emission and pollution
control system containing gold.
PRODUCER HEDGING
Net producer de-hedging continued through the
second quarter, albeit at a slower pace. In addition
to the Lihr Gold Limited announcement which
occurred early into the quarter, further
announcements followed from Harmony and
Buenaventura. Finally in June, Newmont
announced that it had closed out the remaining
1.85Moz of its hedge book. This quarter also saw
the announcement of a new hedge put in place to
secure debt capital for expansion at Western
Goldfields.
second quarter, albeit at a slower pace. In addition
to the Lihr Gold Limited announcement which
occurred early into the quarter, further
announcements followed from Harmony and
Buenaventura. Finally in June, Newmont
announced that it had closed out the remaining
1.85Moz of its hedge book. This quarter also saw
the announcement of a new hedge put in place to
secure debt capital for expansion at Western
Goldfields.
CURRENCIES
The Euro continued to gain against the dollar for
the early part of the quarter, reaching a high of
€/$1.37. A brief correction saw the dollar trade
back to a €/$1.33 before concerns surrounding the
sub-prime mortgage market in the US re-surfaced,
which caused the dollar to weaken again and it
closed the quarter at €/$1.35.
the early part of the quarter, reaching a high of
€/$1.37. A brief correction saw the dollar trade
back to a €/$1.33 before concerns surrounding the
sub-prime mortgage market in the US re-surfaced,
which caused the dollar to weaken again and it
closed the quarter at €/$1.35.
Although for the quarter it showed a marginal
depreciation of just over 1%, subsequent
movement has seen the dollar slide to record lows
of €/$1.38. Further weakening of the dollar is
expected, which should see gold trade up to the
higher levels seen in the second quarter.
depreciation of just over 1%, subsequent
movement has seen the dollar slide to record lows
of €/$1.38. Further weakening of the dollar is
expected, which should see gold trade up to the
higher levels seen in the second quarter.
The rand range traded throughout the quarter
between levels of R6.83/$ to R7.36/$, and
managed to appreciate some 3% against the dollar
closing at R7.02/$. Much of this relative strength
can be attributed to the weakness of the dollar.
between levels of R6.83/$ to R7.36/$, and
managed to appreciate some 3% against the dollar
closing at R7.02/$. Much of this relative strength
can be attributed to the weakness of the dollar.
Positive economic factors, high interest rates and
the weakening dollar continue to support the
Australian dollar, which strengthened by 6%
quarter-on-quarter to average A$/$0.83. The
Australian dollar has now traded as high as
A$/$0.88, close to its twenty year high of A$/$0.89.
the weakening dollar continue to support the
Australian dollar, which strengthened by 6%
quarter-on-quarter to average A$/$0.83. The
Australian dollar has now traded as high as
A$/$0.88, close to its twenty year high of A$/$0.89.
Hedge position
HEDGE POSITION
As at 30 June, the net delta hedge position was 8.75Moz
or 272t, valued at a quarter end spot gold price of
$648.60/oz, which was $15/oz lower than that of the
previous quarter. This reflects a net delta position
decrease of 0.84Moz or 26.2t during the quarter, as a
result of delivering into maturing hedge positions and
entering into new long positions as a continuation of the
hedge reduction strategy.
or 272t, valued at a quarter end spot gold price of
$648.60/oz, which was $15/oz lower than that of the
previous quarter. This reflects a net delta position
decrease of 0.84Moz or 26.2t during the quarter, as a
result of delivering into maturing hedge positions and
entering into new long positions as a continuation of the
hedge reduction strategy.
The company continues to actively manage its hedge
position in a value-accretive manner, whilst actively
reducing the overall hedge delta. To this end, further long
positions were entered into, and at 30 June long positions
were 31,374kg at $664/oz for 2007 and a further 6,758kg
at $658/oz for 2008, which are reflected in the hedge
disclosure table.
position in a value-accretive manner, whilst actively
reducing the overall hedge delta. To this end, further long
positions were entered into, and at 30 June long positions
were 31,374kg at $664/oz for 2007 and a further 6,758kg
at $658/oz for 2008, which are reflected in the hedge
disclosure table.
The marked-to-market value of the hedge book as at 30
June 2007 was negative $2.78bn (as at 31 March 2007:
negative $3.03bn).
June 2007 was negative $2.78bn (as at 31 March 2007:
negative $3.03bn).
This decrease in the marked-to-market value of the hedge
book quarter-on-quarter was primarily due to the lower
book quarter-on-quarter was primarily due to the lower
gold price, although movements in both the R/$ and
A$/$ exchange rates also contributed.
A$/$ exchange rates also contributed.
For the quarter, the company received a price of
$605/oz, which is $61/oz less than the average spot
price of $666/oz. The deficit between the received
price and the spot price is likely to remain at 8 to 10%
for the remainder of the year, provided the gold price
continues to trade between $600 and $700/oz.
$605/oz, which is $61/oz less than the average spot
price of $666/oz. The deficit between the received
price and the spot price is likely to remain at 8 to 10%
for the remainder of the year, provided the gold price
continues to trade between $600 and $700/oz.
As at 30 July, the marked-to-market value of the
hedge book was a negative $2.843bn (negative
R20.13), based on a gold price of $661/oz and
exchange rates of R7.081/$ and A$/$0.848 and the
prevailing market interest rates and volatilities at the
time.
hedge book was a negative $2.843bn (negative
R20.13), based on a gold price of $661/oz and
exchange rates of R7.081/$ and A$/$0.848 and the
prevailing market interest rates and volatilities at the
time.
As indicated last quarter, the group has changed the
method of allocating the effect of hedging to
individual mines. The effect of hedging is now
reported proportional to attributable gold sold and
therefore the average received gold price for each
mine is similar to the group average received gold
price.
method of allocating the effect of hedging to
individual mines. The effect of hedging is now
reported proportional to attributable gold sold and
therefore the average received gold price for each
mine is similar to the group average received gold
price.
Year
2007
2008
2009
2010
2011
2012-2016
Total
DOLLAR
GOLD
Forward contracts
Amount (kg)
10,825
22,817
21,738
14,462
12,931
24,307
107,080
US$ per oz
$307
$314
$316
$347
$397
$418
$352
Forward contracts
(Long)
(Long)
Amount (kg)
*31,374
*6,758
*38,132
US$ per oz
$664
$658
$663
Put options purchased
Amount (kg)
873
873
US$
per
oz
$291
$291
Put options sold
Amount (kg)
21,934
11,555
3,748
1,882
1,882
5,645
46,646
US$ per oz
$647
$587
$530
$410
$420
$440
$579
Call options purchased
Amount (kg)
8,085
8,568
16,653
US$ per oz
$408
$428
$418
Call options sold
Amount (kg)
47,996
53,619
44,725
35,155
37,246
56,847
275,588
US$ per oz
$582
$492
$490
$478
$498
$583
$525
RAND GOLD
Forward contracts
Amount (kg)
*1,595
933
*662
Rand per kg
R161,323
R116,335
R144,715
Put options sold
Amount (kg)
467
467
Rand per kg
R154,002
R154,002
Call options purchased
Amount (kg)
746
746
Rand per kg
R173,119
R173,119
Call options sold
Amount (kg)
1,213
2,986
2,986
2,986
10,171
Rand per kg
R167,992
R202,054
R216,522
R230,990
R210,734
A DOLLAR GOLD
Forward contracts
Amount (kg)
*311
2,177
3,390
3,110
8,366
A$ per oz
A$2,191
A$681
A$670
A$705
A$629
Put options purchased
Amount (kg)
2,799
2,799
A$ per oz
A$813
A$813
Put options sold
Amount (kg)
6,843
6,843
A$ per oz
A$778
A$778
Call options purchased
Amount (kg)
3,110
1,244
3,110
7,464
A$ per oz
A$680
A$694
A$712
A$696
Call options sold
Amount (kg)
8,709
8,709
A$ per oz
A$810
A$810
Delta (kg)
15,723
(51,259)
(65,432)
(48,475)
(48,321)
(74,438)
(272,202)
** Total net gold:
Delta (oz)
505,505
(1,648,013)
(2,103,685)
(1,558,505)
(1,553,554)
(2,393,234)
(8,751,486)
Rounding of figures may result in computational discrepancies.
Year
2007
2008
2009
2010
2011
2012-2016
Total
DOLLAR
SILVER
Put options purchased
Amount (kg)
21,772
43,545
65,317
$ per oz
$7.40
$7.66
$7.57
Put options sold
Amount (kg)
21,772
43,545
65,317
$ per oz
$5.93
$6.19
$6.10
Call options sold
Amount (kg)
21,772
43,545
65,317
$ per oz
$8.40
$8.64
$8.56
*
Indicates a long position resulting from forward purchase contracts. The group enters into forward purchase contracts as part of its
strategy to actively manage and reduce the size of the hedge book.
strategy to actively manage and reduce the size of the hedge book.
**
The Delta of the hedge position indicated is the equivalent gold position that would have the same marked-to-market sensitivity for a
smal change in the gold price. This is calculated using the Black-Scholes option formula with the ruling market prices, interest rates and
volatilities as at 30 June 2007.
The following table indicates the group's currency hedge position at 30 June 2007
Year
2007
2008
2009
2010
2011
2012-2016
Total
RAND DOLLAR (000)
Forward contracts
Forward contracts
Amount ($)
20,000
20,000
US$/R
R7.30
R7.30
Put options purchased
Amount ($)
115,000
115,000
US$/R
R7.32
R7.32
Put options sold
Amount ($)
170,000
170,000
US$/R
R7.06
R7.06
Call options sold
Amount ($)
170,000
170,000
US$/R
R7.55
R7.55
A DOLLAR (000)
Forward contracts
Amount ($)
70,000
20,000
90,000
A$/US $
0.82
$0.73
$0.80
Put options purchased
Amount ($)
70,000
30,000
100,000
A$/US $
0.79
$0.82
$0.79
Put options sold
Amount ($)
70,000
30,000
100,000
A$/US $
0.82
$0.85
$0.82
Call options sold
Amount ($)
70,000
30,000
100,000
A$/US $
0.77
$0.80
$0.78
BRAZILIAN REAL (000)
Forward contracts
Amount ($)
18,000
12,000
30,000
US$/BRL
BRL2.06
BRL2.04
BRL2.05
Put
options
purchased
Amount
($)
6,000
6,000
US$/BRL
BRL2.20
BRL2.20
Put
options
sold
Amount
($)
6,000
6,000
US$/BRL
BRL2.05
BRL2.05
Call options sold
Amount ($)
6,000
8,000
14,000
US$/BRL
BRL2.23
BRL2.20
BRL2.21
Derivative analysis by accounting designation as at 30 June 2007
Normal sale
exempted
Cash flow
hedge
accounted
Non-hedge
accounted
Total
US Dollars (millions)
Commodity option contracts
(468)
-
(1,090)
(1,558)
Foreign exchange option contracts
-
-
(4)
(4)
Forward sale commodity contracts
(929)
(308)
5
(1,232)
Forward foreign exchange contracts
-
3
4
7
Interest rate swaps
(28)
-
32
4
Total hedging contracts
(1,425)
(305)
(1,053)
(2,783)
Option component of convertible bonds
-
-
(21)
(21)
Total derivatives
(1,425)
(305)
(1,074)
(2,804)
Rounding of figures may result in computational discrepancies.
Exploration
Total exploration expenditure amounted to $41m ($18m
brownfields, $23m greenfields) during the second
quarter of 2007, compared to $33m ($14m brownfields,
$19m greenfields) in the previous quarter.
brownfields, $23m greenfields) during the second
quarter of 2007, compared to $33m ($14m brownfields,
$19m greenfields) in the previous quarter.
BROWNFIELDS EXPLORATION
In South Africa, at Moab Khotsong, drilling of three
surface boreholes intended to further define the
geological model of the lower mine continues. Borehole
MGR7 obtained two further intersections of the Vaal
Reef and is complete, while borehole MMB5 advanced
230m during the quarter and is approximately 300m from
intersecting the Vaal Reef. Borehole MZA9, a long
deflection to test the ground to the east has also
commenced.
surface boreholes intended to further define the
geological model of the lower mine continues. Borehole
MGR7 obtained two further intersections of the Vaal
Reef and is complete, while borehole MMB5 advanced
230m during the quarter and is approximately 300m from
intersecting the Vaal Reef. Borehole MZA9, a long
deflection to test the ground to the east has also
commenced.
At Obuasi, in Ghana, surface borehole USDD2 reached
a depth of 1,948m, while the first of four planned long
inclined boreholes to explore the ground between
70 level and 80 level will resume after the machine has
been relocated.
a depth of 1,948m, while the first of four planned long
inclined boreholes to explore the ground between
70 level and 80 level will resume after the machine has
been relocated.
At Iduapriem, resource conversion drilling commenced
at Blocks 7 and 8, which is the main mining area. A total
of 35 holes were drilled during the quarter in an effort to
convert inferred resources to indicated resources.
at Blocks 7 and 8, which is the main mining area. A total
of 35 holes were drilled during the quarter in an effort to
convert inferred resources to indicated resources.
In Australia, at Boddington mine, seven diamond drilling
rigs were employed in advancing Resource conversion
and near-mine extension exploration. During the quarter,
approximately 45,142m of new drilling was completed
from 53 holes. This brings the total to 73,917m of drilling
from 86 holes to date.
rigs were employed in advancing Resource conversion
and near-mine extension exploration. During the quarter,
approximately 45,142m of new drilling was completed
from 53 holes. This brings the total to 73,917m of drilling
from 86 holes to date.
At Siguiri, in Guinea, drilling continued at the Sintroko
prospect, which is situated some 8km south of the
existing operation and at Kintinian prospect, situated
4km north of the mining operation. Infill and extension
drilling will continue at both prospects during the third
quarter. At Block 2, diamond drilling was completed at
Foulata (45km from current infrastructure) and Saraya
(55km from current infrastructure). For the third quarter,
infill drilling at Foulata is planned.
prospect, which is situated some 8km south of the
existing operation and at Kintinian prospect, situated
4km north of the mining operation. Infill and extension
drilling will continue at both prospects during the third
quarter. At Block 2, diamond drilling was completed at
Foulata (45km from current infrastructure) and Saraya
(55km from current infrastructure). For the third quarter,
infill drilling at Foulata is planned.
Surface geochemical sampling began from four new
exploration licenses that were issued in December 2006
(which extend over a 25km area north of the current
mine) and in Block 2 during the quarter. An airborne
electromagnetic survey over all four blocks was
completed and interpretation and target generation is in
progress.
exploration licenses that were issued in December 2006
(which extend over a 25km area north of the current
mine) and in Block 2 during the quarter. An airborne
electromagnetic survey over all four blocks was
completed and interpretation and target generation is in
progress.
At Geita, in Tanzania, exploration activities were
concentrated on Matandani Pit, Kukuluma Pit, A3
Central, Nyakabale-Prospect 30 and Lone Cone-
Nyankanga Gap. For the quarter, 2,303m of diamond
concentrated on Matandani Pit, Kukuluma Pit, A3
Central, Nyakabale-Prospect 30 and Lone Cone-
Nyankanga Gap. For the quarter, 2,303m of diamond
drilling, 648m of reverse circulation (RC) and 10,461m of
air core drilling was achieved from 177 holes, comprising
follow-up work, investigation of extensions to known
mineralisation, reconnaissance work and metallurgical
test drilling. Encouraging results were obtained at
Matandani and Area 3 Central, while the results from the
Nyakabale-Prospect 30 area were disappointing.
air core drilling was achieved from 177 holes, comprising
follow-up work, investigation of extensions to known
mineralisation, reconnaissance work and metallurgical
test drilling. Encouraging results were obtained at
Matandani and Area 3 Central, while the results from the
Nyakabale-Prospect 30 area were disappointing.
At Morila in Mali, two diamond holes were drilled to test
the grade continuity between the MSZ target (located
within the current pit and western extension of the ore-
body) and the Samcline target (located about 400m west
of the pit at a depth of 400m to 500m). The first hole
intersected significant values between 90m and 150m,
while the results for the second hole are still expected.
The interpretive desktop phase for the regional
exploration continues.
the grade continuity between the MSZ target (located
within the current pit and western extension of the ore-
body) and the Samcline target (located about 400m west
of the pit at a depth of 400m to 500m). The first hole
intersected significant values between 90m and 150m,
while the results for the second hole are still expected.
The interpretive desktop phase for the regional
exploration continues.
At Sadiola, phase eight drilling of the deep sulphides
was completed and Mineral Resource modelling is
ongoing. At the satellite pits, a full review of the
geological potential is underway.
was completed and Mineral Resource modelling is
ongoing. At the satellite pits, a full review of the
geological potential is underway.
At Yatela, a 50m by 25m grid was drilled over the north-
west extension. Final assay results are awaited.
west extension. Final assay results are awaited.
At Navachab, in Namibia, drilling from the North Pit area
has been completed and the results remain
encouraging. Drilling of the Gecko North prospect
yielded some positive results, while the stream sediment
sampling results over the Mon Repos Thrust zones were
disappointing. Stream sediment sampling will continue
during the third quarter to cover new targeted areas.
has been completed and the results remain
encouraging. Drilling of the Gecko North prospect
yielded some positive results, while the stream sediment
sampling results over the Mon Repos Thrust zones were
disappointing. Stream sediment sampling will continue
during the third quarter to cover new targeted areas.
At Córrego do Sitío, in Brazil, new targets Paraiso and
Paiol are being drill-defined.
Paiol are being drill-defined.
At Cripple Creek & Victor in the United States, drilling in
the Mine Life Extension Project area continues at a
spacing of 30m to 60m, and the results to date have
been encouraging. Drilling was focused on the west
side of the Altman deposit as well as the Globe Hill
deposit where metallurgical core was collected.
Development drilling continues in the South Cresson and
Southwest Cresson areas to define the final pit depths
and refine the high wall designs.
the Mine Life Extension Project area continues at a
spacing of 30m to 60m, and the results to date have
been encouraging. Drilling was focused on the west
side of the Altman deposit as well as the Globe Hill
deposit where metallurgical core was collected.
Development drilling continues in the South Cresson and
Southwest Cresson areas to define the final pit depths
and refine the high wall designs.
GREENFIELDS EXPLORATION
Greenfields exploration activities continued in seven
countries (Australia, Colombia, the DRC, China, Laos,
the Philippines, and Russia) during the second quarter of
2007. A total of 74,727m of diamond and RC drilling was
completed, so as to drill test priority targets in Australia,
the DRC, and Colombia.
countries (Australia, Colombia, the DRC, China, Laos,
the Philippines, and Russia) during the second quarter of
2007. A total of 74,727m of diamond and RC drilling was
completed, so as to drill test priority targets in Australia,
the DRC, and Colombia.
In Australia, approval was given to advance the
Tropicana JV Project (AngloGold Ashanti 70%,
Independence Group 30%) to the pre-feasibility study
(PFS) phase. The Tropicana PFS will focus on the
economics of the open-pit mining of gold mineralisation
currently identified over a 4km strike length at Tropicana-
Havana. Reconnaissance exploration will continue, in
parallel, throughout the remainder of the Tropicana JV
tenement holding.
Tropicana JV Project (AngloGold Ashanti 70%,
Independence Group 30%) to the pre-feasibility study
(PFS) phase. The Tropicana PFS will focus on the
economics of the open-pit mining of gold mineralisation
currently identified over a 4km strike length at Tropicana-
Havana. Reconnaissance exploration will continue, in
parallel, throughout the remainder of the Tropicana JV
tenement holding.
RC and diamond drilling completed during the quarter at
the Tropicana zone was primarily focused on testing
down-dip extensions to the known mineralisation.
Highlights obtained from this drilling (at greater than 1g/t
cut off) included 13m @ 13.3g/t, 14m @ 2.85g/t, and 9m
@ 4.37g/t. At Havana, additional infill drilling was
completed together with further testing of down-dip
extensions to known mineralization. Better results
obtained from this drilling included 10m @ 8.01g/t
(northern Havana), 19m @ 2.48g/t, 8m @ 9.5g/t, and 6m
@ 5.06g/t (southern Havana), and 12m @ 3.52g/t and
5m @ 33.7g/t (including 1m @ 159g/t) and 14m @
3.85g/t from south of the main Havana zone.
the Tropicana zone was primarily focused on testing
down-dip extensions to the known mineralisation.
Highlights obtained from this drilling (at greater than 1g/t
cut off) included 13m @ 13.3g/t, 14m @ 2.85g/t, and 9m
@ 4.37g/t. At Havana, additional infill drilling was
completed together with further testing of down-dip
extensions to known mineralization. Better results
obtained from this drilling included 10m @ 8.01g/t
(northern Havana), 19m @ 2.48g/t, 8m @ 9.5g/t, and 6m
@ 5.06g/t (southern Havana), and 12m @ 3.52g/t and
5m @ 33.7g/t (including 1m @ 159g/t) and 14m @
3.85g/t from south of the main Havana zone.
Regional aircore drilling also tested several prospects in
the Tropicana-Havana region during the quarter. Results
from this work, including 2m @ 3.26g/t from south of
Havana, define a number of very encouraging anomalies
along strike from both Tropicana and Havana.
the Tropicana-Havana region during the quarter. Results
from this work, including 2m @ 3.26g/t from south of
Havana, define a number of very encouraging anomalies
along strike from both Tropicana and Havana.
Regional exploration and target generation activities
continued in Colombia during the second quarter. Drilling
also continued on the bulk-tonnage gold target at
Gramalote, and results from first-pass drilling of the new
La Colosa gold-copper porphyry prospect is
encouraging. A preliminary scoping study, together with
some additional infill drilling, will be undertaken at the
Gramalote project in the second half of 2007. Regarding
the company’s joint venture in Northern Colombia with
what was previously Bema Gold, this joint venture was
specifically excluded from Bema Gold’s recent merger
with Kinross and Bema’s rights in the joint venture was
subsequently transferred to B2 Gold. Drill testing of the
B2 joint venture prospect San Martin de Loba as well as
prospects El Carmen and Nechi (which are part of the
joint venture with local partner Mineros SA) was
completed during the second quarter, with results
currently under review. A decision was also taken to
farm-out the Miraflores target (Quinchia District) to the
B2 Gold JV for Northern Colombia.
continued in Colombia during the second quarter. Drilling
also continued on the bulk-tonnage gold target at
Gramalote, and results from first-pass drilling of the new
La Colosa gold-copper porphyry prospect is
encouraging. A preliminary scoping study, together with
some additional infill drilling, will be undertaken at the
Gramalote project in the second half of 2007. Regarding
the company’s joint venture in Northern Colombia with
what was previously Bema Gold, this joint venture was
specifically excluded from Bema Gold’s recent merger
with Kinross and Bema’s rights in the joint venture was
subsequently transferred to B2 Gold. Drill testing of the
B2 joint venture prospect San Martin de Loba as well as
prospects El Carmen and Nechi (which are part of the
joint venture with local partner Mineros SA) was
completed during the second quarter, with results
currently under review. A decision was also taken to
farm-out the Miraflores target (Quinchia District) to the
B2 Gold JV for Northern Colombia.
Drilling continued in the Mongbwalu region of the north-
eastern DRC with one diamond rig and two RC rigs.
Diamond drilling continued to focus on defining the
resource potential of the mineralised mylonite zone
located to the south-east of the past-producing Nzebi
mine. The two RC rigs continued to evaluate the
shallow, open-pit resource potential of the Adidi North,
Sokomutu and Pluto sectors. A 50m by 50m drill grid
has now been completed over the Adidi North sector,
eastern DRC with one diamond rig and two RC rigs.
Diamond drilling continued to focus on defining the
resource potential of the mineralised mylonite zone
located to the south-east of the past-producing Nzebi
mine. The two RC rigs continued to evaluate the
shallow, open-pit resource potential of the Adidi North,
Sokomutu and Pluto sectors. A 50m by 50m drill grid
has now been completed over the Adidi North sector,
with similar grids currently being drilled at Sokomuto and
Pluto. The planned 2007 drill programme at Mongbwalu
will allow for the calculation of an inferred gold resource
by year-end, with a preliminary scoping study on the
economics of the Mongbwalu project expected to be
completed by the end of the second quarter 2008.
Pluto. The planned 2007 drill programme at Mongbwalu
will allow for the calculation of an inferred gold resource
by year-end, with a preliminary scoping study on the
economics of the Mongbwalu project expected to be
completed by the end of the second quarter 2008.
Regional target generation activities continued in
Concession 40. A preliminary interpretation of the
15,450 line kilometres of airborne magnetic and
radiometric data collected in the first quarter has been
completed and has resulted in the identification of a
number of new exploration targets regionally. Field
evaluation of these targets is now underway. An
additional 7,500 line kilometres of airborne magnetic and
radiometric data will be collected during the third quarter,
together with a further 12,000 line kilometres of airborne
time-domain electromagnetic data.
Concession 40. A preliminary interpretation of the
15,450 line kilometres of airborne magnetic and
radiometric data collected in the first quarter has been
completed and has resulted in the identification of a
number of new exploration targets regionally. Field
evaluation of these targets is now underway. An
additional 7,500 line kilometres of airborne magnetic and
radiometric data will be collected during the third quarter,
together with a further 12,000 line kilometres of airborne
time-domain electromagnetic data.
In Russia, the formal documentation for the strategic
alliance with Polymetal is expected to be signed before
the end of August 2007. All future exploration and
business development activities in Russia will be
undertaken through the Polymetal strategic alliance.
alliance with Polymetal is expected to be signed before
the end of August 2007. All future exploration and
business development activities in Russia will be
undertaken through the Polymetal strategic alliance.
In China, the business licence for the co-operative joint
venture (CJV) between Yunlong Mining Company and
AngloGold Ashanti Ltd at the Yili project, in the Xinjiang
Province, was issued. During the quarter, ground
magnetic and soil-sampling programmes were
commenced at Yili, with completion anticipated by the
end of the third quarter.
venture (CJV) between Yunlong Mining Company and
AngloGold Ashanti Ltd at the Yili project, in the Xinjiang
Province, was issued. During the quarter, ground
magnetic and soil-sampling programmes were
commenced at Yili, with completion anticipated by the
end of the third quarter.
At Red Valley in Qinghai, AngloGold Ashanti has
commenced earning into the CJV through the funding of
$1.5m in exploration in 2007. A 5,000m drill programme
has been proposed to test for high-grade gold
mineralisation within the regional-scale duplex identified
during the 2006 field programme.
commenced earning into the CJV through the funding of
$1.5m in exploration in 2007. A 5,000m drill programme
has been proposed to test for high-grade gold
mineralisation within the regional-scale duplex identified
during the 2006 field programme.
Field work is also continuing on two new projects in
western China, where terms for the proposed CJV have
been agreed and the application for the business
licences is in progress.
western China, where terms for the proposed CJV have
been agreed and the application for the business
licences is in progress.
In the Philippines, work continues on finalising the
Mapawa and Outer Siana joint venture agreements with
Red 5 Limited. Limited field mapping and rock chip
sampling was also carried out in the southern portion of
the Mapawa JV area.
Mapawa and Outer Siana joint venture agreements with
Red 5 Limited. Limited field mapping and rock chip
sampling was also carried out in the southern portion of
the Mapawa JV area.
Under the Oxiana Limited JV in Laos, regional
reconnaissance sampling and mapping programmes
were undertaken in six areas defined from the previous
targeting exercises in the Truongson and Luang
Prabang Fold Belts. Anomalous gold values were
returned in stream sediment and rock chip samples from
two of these areas, with anomalous Copper values being
identified in a third area. Field work is continuing in these
and other target areas.
reconnaissance sampling and mapping programmes
were undertaken in six areas defined from the previous
targeting exercises in the Truongson and Luang
Prabang Fold Belts. Anomalous gold values were
returned in stream sediment and rock chip samples from
two of these areas, with anomalous Copper values being
identified in a third area. Field work is continuing in these
and other target areas.
Group
income statement
Quarter
Quarter
Quarter
Six months
Six months
ended
ended
ended
ended
ended
June
March
June
June
June
2007
2007
2006
2007
2006
SA Rand million
Notes
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Revenue
2
5,461
5,882
4,966
11,343
9,422
Gold income
5,222
5,664
4,798
10,886
9,044
Cost of sales
3
(4,132)
(4,223)
(3,546)
(8,356)
(7,018)
Profit (loss) on non-hedge derivatives and other commodity contracts
840
(662)
(1,847)
178
(2,947)
Gross profit (loss)
1,930
778
(594)
2,708
(921)
Corporate administration and other expenses
(216)
(208)
(140)
(424)
(267)
Market development costs
(26)
(23)
(24)
(49)
(50)
Exploration costs
(204)
(176)
(116)
(380)
(189)
Other operating expenses
4
(43)
(47)
(39)
(91)
(69)
Operating special items
5
86
14
14
101
24
Operating profit (loss)
1,527
339
(900)
1,866
(1,472)
Interest received
62
73
59
135
89
Exchange (loss) gain
(14)
3
(7)
(12)
(11)
Fair value adjustment on option component of convertible bond
223
135
158
358
(75)
Finance costs and unwinding of obligations
(220)
(200)
(209)
(419)
(419)
Share of associates' loss
(51)
(4)
(1)
(54)
(5)
Profit (loss) before taxation
1,527
346
(900)
1,873
(1,892)
Taxation
6
(371)
(434)
(86)
(805)
(125)
Profit (loss) after taxation from continuing operations
1,155
(88)
(986)
1,067
(2,017)
Discontinued operations
Loss for the period from discontinued operations
Loss for the period from discontinued operations
7
(4)
(6)
(4)
(10)
(11)
Profit (loss) for the period
1,151
(94)
(989)
1,057
(2,028)
Allocated as follows:
Equity shareholders
Equity shareholders
1,083
(150)
(1,047)
933
(2,126)
Minority interest
68
56
58
124
98
1,151
(94)
(989)
1,057
(2,028)
Basic earnings (loss) per ordinary share (cents)
Profit (loss) from continuing operations
1
386
(51)
(382)
335
(786)
Loss from discontinued operations
1
(1)
(2)
(1)
(3)
(4)
Profit (loss)
385
(53)
(383)
332
(790)
Diluted earnings (loss) per ordinary share (cents)
Profit (loss) from continuing operations
2
385
(51)
(382)
334
(784)
Loss from discontinued operations
2
(1)
(2)
(1)
(3)
(4)
Profit (loss)
384
(53)
(383)
331
(788)
Dividends
3
- Rm
251
578
- cents per Ordinary share
90
210
- cents per E Ordinary share
45
-
1
Calculated on the basic weighted average number of ordinary shares.
2
Calculated on the diluted weighted average number of ordinary shares.
3
The current period is only indicative.
Rounding of figures may results in computational discrepancies.
Group
income statement
Quarter
Quarter
Quarter
Six months
Six months
ended
ended
ended
ended
ended
June
March
June
June
June
2007
2007
2006
2007
2006
US Dollar million
Notes
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Revenue
2
773
813
766
1,586
1,490
Gold income
739
783
740
1,522
1,430
Cost of sales
3
(585)
(584)
(547)
(1,169)
(1,112)
Profit (loss) on non-hedge derivatives and other commodity contracts
77
(51)
(169)
25
(357)
Gross profit (loss)
231
147
25
378
(39)
Corporate administration and other expenses
(31)
(29)
(22)
(59)
(42)
Market development costs
(4)
(3)
(4)
(7)
(8)
Exploration costs
(29)
(24)
(18)
(53)
(30)
Other operating expenses
4
(6)
(7)
(7)
(13)
(10)
Operating special items
5
12
2
2
14
4
Operating profit (loss)
174
86
(22)
260
(125)
Interest received
9
10
9
19
14
Exchange loss
(2)
-
(1)
(2)
(2)
Fair value adjustment on option component of convertible bond
32
19
25
51
(14)
Finance costs and unwinding of obligations
(31)
(28)
(32)
(59)
(67)
Share of associates' loss
(7)
(1)
-
(8)
(1)
Profit (loss) before taxation
174
88
(22)
261
(194)
Taxation
6
(52)
(60)
(23)
(112)
(29)
Profit (loss) after taxation from continuing operations
121
28
(45)
149
(223)
Discontinued operations
Loss for the period from discontinued operations
Loss for the period from discontinued operations
7
(1)
(1)
(1)
(1)
(2)
Profit (loss) for the period
121
27
(45)
148
(225)
Allocated as follows:
Equity shareholders
Equity shareholders
111
19
(54)
131
(241)
Minority interest
10
8
9
17
16
121
27
(45)
148
(225)
Basic earnings (loss) per ordinary share (cents)
Profit (loss) from continuing operations
1
39
7
(20)
47
(89)
Loss from discontinued operations
1
-
-
-
-
(1)
Profit (loss)
39
7
(20)
47
(90)
Diluted earnings (loss) per ordinary share (cents)
Profit (loss) from continuing operations
2
39
7
(20)
46
(89)
Loss from discontinued operations
2
-
-
-
-
(1)
Profit (loss)
39
7
(20)
46
(89)
Dividends
3
- $m
36
81
- cents per Ordinary share
13
29
- cents per E Ordinary share
7
-
1
Calculated on the basic weighted average number of ordinary shares.
2
Calculated on the diluted weighted average number of ordinary shares.
3
Dividends are translated at actual rates on date of payment. The current period is only indicative.
Rounding of figures may results in computational discrepancies.
Group
balance sheet
As at
As at
As at
As at
June
March
June
December
2007
2007
2006
2006
SA Rand million
Notes
Unaudited
Unaudited
Unaudited
Audited
ASSETS
Non-current assets
Tangible assets
Tangible assets
44,551
44,282
41,238
42,382
Intangible assets
3,041
3,073
2,873
2,909
Investments in associates
245
371
312
300
Other investments
956
926
662
884
Inventories
2,103
2,167
1,673
2,006
Trade and other receivables
452
452
164
405
Derivatives
-
22
73
45
Deferred taxation
417
444
368
432
Other non-current assets
313
340
95
313
52,078
52,077
47,458
49,676
Current assets
Inventories
Inventories
4,112
3,553
3,181
3,424
Trade and other receivables
1,535
1,610
1,606
1,300
Derivatives
3,383
4,651
5,941
4,546
Current portion of other non-current assets
5
5
11
5
Cash restricted for use
166
272
21
75
Cash and cash equivalents
2,792
2,919
2,450
3,467
11,993
13,010
13,211
12,817
Non-current assets held for sale
203
113
100
123
12,196
13,123
13,311
12,940
TOTAL ASSETS
64,274
65,200
60,769
62,616
EQUITY AND LIABILITIES
Share capital and premium
10
22,237
22,196
22,065
22,083
Retained earnings and other reserves
11
(34)
(961)
(3,141)
(1,188)
Shareholders' equity
22,203
21,235
18,924
20,895
Minority interests
12
475
481
419
436
Total equity
22,678
21,716
19,343
21,331
Non-current liabilities
Borrowings
Borrowings
9,293
9,010
9,375
9,963
Environmental rehabilitation and other provisions
2,929
2,927
2,579
2,785
Provision for pension and post-retirement benefits
1,201
1,193
1,263
1,181
Trade, other payables and deferred income
131
138
109
150
Derivatives
1,183
1,827
3,484
1,984
Deferred taxation
7,821
7,826
7,201
7,722
22,559
22,921
24,011
23,785
Current liabilities
Current portion of borrowings
Current portion of borrowings
2,056
1,725
465
413
Trade, other payables and deferred income
3,880
4,003
3,118
3,701
Derivatives
11,869
13,384
12,723
12,152
Taxation
1,232
1,451
1,110
1,234
19,037
20,564
17,416
17,500
Total liabilities
41,596
43,484
41,427
41,285
TOTAL EQUITY AND LIABILITIES
64,274
65,200
60,769
62,616
Net asset value - cents per share
8,072
7,733
7,030
7,607
Rounding of figures may results in computational discrepancies.
Group
balance sheet
As at
As at
As at
As at
June
March
June
December
2007
2007
2006
2006
US Dollar million
Notes
Unaudited
Unaudited
Unaudited
Audited
ASSETS
Non-current assets
Tangible assets
Tangible assets
6,350
6,069
5,772
6,054
Intangible assets
433
421
402
415
Investments in associates
35
51
44
43
Other investments
136
127
93
126
Inventories
300
297
234
287
Trade and other receivables
64
62
23
58
Derivatives
-
3
10
6
Deferred taxation
59
61
51
62
Other non-current assets
45
47
13
44
7,423
7,138
6,642
7,095
Current assets
Inventories
Inventories
586
487
445
489
Trade and other receivables
219
220
225
185
Derivatives
482
638
832
649
Current portion of other non-current assets
1
1
2
1
Cash restricted for use
24
37
3
11
Cash and cash equivalents
398
400
343
495
1,709
1,782
1,849
1,830
Non-current assets held for sale
29
16
14
18
1,738
1,798
1,863
1,848
TOTAL ASSETS
9,161
8,936
8,505
8,943
EQUITY AND LIABILITIES
Share capital and premium
10
3,169
3,042
3,088
3,154
Retained earnings and other reserves
11
(5)
(131)
(440)
(169)
Shareholders' equity
3,165
2,911
2,648
2,985
Minority interests
12
68
66
59
62
Total equity
3,232
2,977
2,707
3,047
Non-current liabilities
Borrowings
Borrowings
1,325
1,235
1,312
1,423
Environmental rehabilitation and other provisions
417
401
361
398
Provision for pension and post-retirement benefits
171
164
177
169
Trade, other payables and deferred income
19
19
15
21
Derivatives
169
250
488
283
Deferred taxation
1,115
1,073
1,008
1,103
3,215
3,142
3,361
3,397
Current liabilities
Current portion of borrowings
Current portion of borrowings
293
236
65
59
Trade, other payables and deferred income
553
548
436
528
Derivatives
1,692
1,834
1,781
1,736
Taxation
176
199
155
176
2,713
2,818
2,437
2,499
Total liabilities
5,929
5,959
5,798
5,896
TOTAL EQUITY AND LIABILITIES
9,161
8,936
8,505
8,943
Net asset value - cents per share
1,150
1,060
984
1,087
Rounding of figures may results in computational discrepancies.
Group
cash flow statement
Quarter
Quarter
Quarter
Six months
Six months
ended
ended
ended
ended
ended
June
March
June
June
June
2007
2007
2006
2007
2006
SA Rand million
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Cash flow from operating activities
Receipts from customers
Receipts from customers
5,551
5,629
5,006
11,180
9,806
Payments to suppliers and employees
(3,869)
(3,537)
(2,879)
(7,406)
(6,125)
Cash generated from operations
1,682
2,092
2,127
3,774
3,681
Cash (utilised) generated by discontinued operations
(9)
(10)
14
(19)
3
Taxation paid
(545)
(332)
(178)
(877)
(269)
Net cash inflow from operating activities
1,128
1,750
1,963
2,878
3,415
Cash flows from investing activities
Capital expenditure
Capital expenditure
(1,764)
(1,417)
(1,168)
(3,181)
(2,130)
Acquisition of assets
(287)
-
-
(287)
-
Proceeds from disposal of tangible assets
91
17
54
108
65
Proceeds from disposal of assets of discontinued operations
6
2
22
8
32
Other investments acquired
(16)
(40)
(13)
(56)
(17)
Associate loans and acquisitions
64
(63)
(63)
1
(63)
Proceeds from disposal of investments
26
21
19
48
36
Cash restricted for use
101
(189)
-
(88)
30
Interest received
49
60
44
110
62
Loans advanced
18
(26)
-
(8)
-
Repayment of loans advanced
8
1
26
9
28
Net cash outflow from investing activities
(1,702)
(1,634)
(1,079)
(3,336)
(1,956)
Cash flows from financing activities
Proceeds from issue of share capital
Proceeds from issue of share capital
36
104
3,026
140
3,049
Share issue expenses
(4)
-
(32)
(4)
(32)
Proceeds from borrowings
730
196
81
926
410
Repayment of borrowings
(182)
(143)
(2,973)
(326)
(3,342)
Finance costs
(33)
(212)
(84)
(245)
(336)
Dividends paid
(63)
(694)
(70)
(756)
(253)
Net cash inflow (outflow) from financing activities
485
(749)
(52)
(264)
(503)
Net (decrease) increase in cash and cash equivalents
(89)
(632)
832
(721)
956
Translation
(38)
84
200
46
167
Cash and cash equivalents at beginning of period
2,919
3,467
1,419
3,467
1,328
Net cash and cash equivalents at end of period
2,792
2,919
2,450
2,792
2,450
Cash generated from operations
Profit (loss) before taxation
Profit (loss) before taxation
1,527
346
(900)
1,873
(1,892)
Adjusted for:
Movement on non-hedge derivatives and other commodity contracts
Movement on non-hedge derivatives and other commodity contracts
(195)
984
2,584
788
4,166
Amortisation of tangible assets
1,009
948
951
1,957
1,810
Finance costs and unwinding of obligations
220
200
209
419
419
Deferred stripping
(131)
(100)
(126)
(231)
(233)
Interest receivable
(62)
(73)
(59)
(135)
(89)
Operating special items
(86)
(14)
18
(101)
8
Amortisation of intangible assets
3
4
3
7
6
Fair value adjustment on option components of convertible bond
(223)
(135)
(158)
(358)
75
Environmental, rehabilitation and other expenditure
(14)
(14)
(9)
(28)
(64)
Other non-cash movements
181
146
(132)
329
18
Movements in working capital
(547)
(201)
(254)
(747)
(543)
1,682
2,092
2,127
3,774
3,681
Movements in working capital
Increase in inventories
Increase in inventories
(494)
(326)
(1,019)
(820)
(1,174)
Decrease (increase) in trade and other receivables
79
(288)
70
(209)
(10)
(Decrease) increase in trade and other payables
(131)
413
695
282
640
(547)
(201)
(254)
(747)
(543)
Rounding of figures may results in computational discrepancies.
Group
cash flow statement
Quarter
Quarter
Quarter
Six months
Six months
ended
ended
ended
ended
ended
June
March
June
June
June
2007
2007
2006
2007
2006
US Dollar million
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Cash flow from operating activities
Receipts from customers
Receipts from customers
783
780
777
1,563
1,553
Payments to suppliers and employees
(545)
(492)
(449)
(1,037)
(972)
Cash generated from operations
238
288
328
526
581
Cash (utilised) generated by discontinued operations
(1)
(1)
2
(3)
-
Taxation paid
(77)
(46)
(28)
(123)
(43)
Net cash inflow from operating activities
160
240
302
400
538
Cash flows from investing activities
Capital expenditure
Capital expenditure
(249)
(196)
(181)
(446)
(337)
Acquisition of assets
(40)
-
-
(40)
-
Proceeds from disposal of tangible assets
13
2
8
15
10
Proceeds from disposal of assets of discontinued operations
1
-
4
1
5
Other investments acquired
(2)
(5)
(2)
(8)
(3)
Associate loans and acquisitions
9
(9)
(10)
-
(10)
Proceeds from disposal of investments
4
3
3
6
6
Cash restricted for use
14
(26)
-
(12)
5
Interest received
7
8
7
15
10
Loans advanced
2
(4)
-
(1)
-
Repayment of loans advanced
1
-
4
1
4
Net cash outflow from investing activities
(241)
(226)
(167)
(467)
(309)
Cash flows from financing activities
Proceeds from issue of share capital
Proceeds from issue of share capital
5
14
505
19
509
Share issue expenses
(1)
-
(5)
(1)
(5)
Proceeds from borrowings
103
27
11
130
65
Repayment of borrowings
(26)
(20)
(493)
(46)
(553)
Finance costs
(5)
(29)
(13)
(34)
(53)
Dividends paid
(9)
(94)
(11)
(103)
(40)
Net cash inflow (outflow) from financing activities
67
(102)
(5)
(34)
(77)
Net (decrease) increase in cash and cash equivalents
(14)
(88)
130
(101)
152
Translation
11
(8)
(18)
4
(17)
Cash and cash equivalents at beginning of period
400
495
230
495
209
Net cash and cash equivalents at end of period
398
400
343
398
343
Cash generated from operations
Profit (loss) profit before taxation
Profit (loss) profit before taxation
174
88
(22)
261
(194)
Adjusted for:
Movement on non-hedge derivatives and other commodity contracts
Movement on non-hedge derivatives and other commodity contracts
15
96
281
111
547
Amortisation of tangible assets
143
131
147
274
286
Finance costs and unwinding of obligations
31
28
32
59
67
Deferred stripping
(19)
(14)
(15)
(33)
(33)
Interest receivable
(9)
(10)
(9)
(19)
(14)
Operating special items
(12)
(2)
2
(14)
-
Amortisation of intangible assets
-
-
-
1
1
Fair value adjustment on option components of convertible bond
(32)
(19)
(25)
(51)
14
Environmental, rehabilitation and other expenditure
(2)
(2)
(1)
(5)
(19)
Other non-cash movements
25
22
(22)
46
12
Movements in working capital
(76)
(30)
(40)
(106)
(86)
238
288
328
526
581
Movements in working capital
Increase in inventories
Increase in inventories
(102)
(14)
(60)
(115)
(100)
Decrease (increase) in trade and other receivables
3
(32)
47
(29)
27
Increase (decrease) in trade and other payables
23
16
(27)
39
(13)
(76)
(30)
(40)
(106)
(86)
Rounding of figures may results in computational discrepancies.
Group
operating results
Jun
Mar
Jun
Jun
Jun
Jun
Mar
Jun
Jun
Jun
2007
2007
2006
2007
2006
2007
2007
2006
2007
2006
OPERATING RESULTS
UNDERGROUND OPERATION
Milled
UNDERGROUND OPERATION
Milled
- 000 tonnes
/ - 000 tons
3,404
3,088
3,366
6,492
6,602
3,753
3,404
3,710
7,157
7,277
Yield
- g / t
/ - oz / t
6.70
7.22
7.24
6.95
7.19
0.195
0.211
0.211
0.203
0.210
Gold produced
- kg
/ - oz (000)
22,817
22,296
24,379
45,113
47,434
734
717
784
1,451
1,525
SURFACE AND DUMP RECLAMATION
Treated
Treated
- 000 tonnes
/ - 000 tons
3,192
3,275
3,343
6,466
6,112
3,518
3,610
3,685
7,128
6,737
Yield
- g / t
/ - oz / t
0.53
0.52
0.50
0.52
0.52
0.015
0.015
0.015
0.015
0.015
Gold produced
- kg
/ - oz (000)
1,680
1,694
1,663
3,374
3,180
54
54
53
108
102
OPEN-PIT OPERATION
Mined
Mined
- 000 tonnes
/ - 000 tons
42,880
40,059
42,830
82,939
84,742
47,267
44,158
47,212
91,425
93,412
Treated
- 000 tonnes
/ - 000 tons
6,139
6,262
6,373
12,401
12,626
6,767
6,903
7,026
13,670
13,918
Stripping ratio-t (mined total - mined ore)/t mined ore
4.16
5.06
4.53
4.56
4.66
4.16
5.06
4.53
4.56
4.66
Yield
- g / t
/ - oz / t
2.29
2.25
2.26
2.27
2.23
0.067
0.066
0.066
0.066
0.065
Gold in ore
- kg
/ - oz (000)
14,123
12,571
9,491
26,694
24,078
454
404
305
858
774
Gold produced
- kg
/ - oz (000)
14,033
14,083
14,415
28,117
28,141
451
453
463
904
905
HEAP LEACH OPERATION
Mined
Mined
- 000 tonnes
/ - 000 tons
15,229
14,719
17,256
29,948
32,604
16,787
16,225
19,021
33,012
35,940
Placed
1
- 000 tonnes
/ - 000 tons
5,673
5,180
6,090
10,853
11,652
6,253
5,710
6,713
11,964
12,844
Stripping ratio-t (mined total - mined ore)/t mined ore
1.94
2.07
1.82
2.00
1.80
1.94
2.07
1.82
2.00
1.80
Yield
2
- g / t
/ - oz / t
0.82
0.73
0.80
0.78
0.79
0.024
0.021
0.023
0.023
0.023
Gold placed
3
- kg
/ - oz (000)
4,656
3,765
4,883
8,421
9,239
150
121
157
271
297
Gold produced
- kg
/ - oz (000)
3,428
3,167
3,567
6,595
6,936
110
102
115
212
223
TOTAL
Gold produced
Gold produced
- kg
/ - oz (000)
41,958
41,239
44,024
83,198
85,691
1,349
1,326
1,415
2,675
2,755
Gold sold
- kg
/ - oz (000)
40,661
41,558
42,424
82,219
84,588
1,307
1,336
1,364
2,643
2,720
Price received
- R / kg
/ - $ / oz- sold
137,579
139,953
125,409
138,807
116,683
605
602
600
604
573
Total cash costs
- R / kg
/ - $ / oz- produced
75,724
76,991
63,276
76,406
62,181
333
332
305
333
307
Total production costs
- R / kg
/ - $ / oz- produced
99,734
99,905
85,168
99,872
83,767
439
430
410
435
413
PRODUCTIVITY PER EMPLOYEE
Target
Target
- g
/ - oz
397
375
386
386
372
12.76
12.05
12.40
12.41
11.96
Actual
- g
/ - oz
339
337
360
338
349
10.89
10.84
11.58
10.86
11.22
CAPITAL EXPENDITURE - Rm
/ - $m
1,979
1,417
1,168
3,396
2,130
279
196
181
476
337
1
Tonnes (Tons) placed on to leach pad.
2
Gold placed / tonnes (tons) placed.
3
Gold placed into leach pad inventory.
Rounding of figures may results in computational discrepancies.
Quarter ended
Quarter ended
Unaudited
Rand / Metric
Unaudited
Dollar / Imperial
Six months ended
Six months ended
Statement of
recognised income and expense
Six months
Year
Six months
ended
ended
ended
June
December
June
2007
2006
2006
Unaudited
Audited
Unaudited
Actuarial gain on pension and post-retirement benefits
-
283
-
Net loss on cash flow hedges removed from equity and reported in income
540
1,274
614
Net loss on cash flow hedges
(67)
(1,604)
(1,724)
Gain on available-for-sale financial assets
-
78
8
Deferred taxation on items above
(74)
50
343
Net exchange translation differences
376
2,292
2,467
Net income recognised directly in equity
775
2,373
1,708
Profit (loss) for the year
1,057
(385)
(2,028)
Total recognised income (expense) for the period
1,832
1,988
(320)
Attributable to:
Equity shareholders
Equity shareholders
1,705
1,755
(453)
Minority interest
127
233
133
1,832
1,988
(320)
Actuarial gain on pension and post-retirement benefits
-
42
-
Net loss on cash flow hedges removed from equity and reported in income
78
217
96
Net loss on cash flow hedges
(10)
(229)
(242)
Gain on available-for-sale financial assets
-
12
1
Deferred taxation on items above
(11)
8
40
Net exchange translation differences
50
281
327
Net income recognised directly in equity
107
331
222
Profit (loss) for the year
148
(14)
(225)
Total recognised income (expense) for the period
255
317
(3)
Attributable to:
Equity shareholders
Equity shareholders
237
289
(17)
Minority interest
18
28
14
255
317
(3)
Rounding of figures may results in computational discrepancies.
SA Rand million
US Dollar million
Segmental
reporting
for the quarter ended 30 June 2007
Quarter
Quarter
Quarter
Six months
Six months
Quarter
Quarter
Quarter
Six months
Six months
ended
ended
ended
ended
ended
ended
ended
ended
ended
ended
June
March
June
June
June
June
March
June
June
June
2007
2007
2006
2007
2006
2007
2007
2006
2007
2006
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Gold income
South Africa
South Africa
2,281
2,465
2,191
4,746
4,122
323
340
338
663
652
Argentina
252
265
276
518
444
36
37
42
72
70
Australia
483
554
465
1,036
774
68
76
72
145
122
Brazil
468
492
367
960
671
66
68
57
134
106
Ghana
567
550
391
1,117
844
80
76
60
156
134
Guinea
304
379
224
684
412
43
52
34
95
65
Mali
429
517
544
946
990
61
72
85
132
157
Namibia
88
94
82
182
157
12
13
13
25
25
Tanzania
163
186
173
349
418
23
26
26
49
66
USA
187
161
85
348
214
26
22
13
49
34
5,222
5,664
4,798
10,886
9,044
739
783
740
1,522
1,430
Gross profit (loss) adjusted for
the profit (loss) on unrealised
non-hedge derivatives and other
commodity contracts
the profit (loss) on unrealised
non-hedge derivatives and other
commodity contracts
South Africa
741
800
1,145
1,541
1,768
105
110
174
215
276
Argentina
97
105
123
202
178
14
15
19
28
28
Australia
212
232
242
444
375
30
32
37
62
59
Brazil
225
254
225
479
359
32
35
35
67
56
Ghana
87
62
(43)
149
(9)
12
9
(7)
21
(2)
Guinea
7
49
27
56
56
1
7
4
8
9
Mali
147
183
268
330
448
21
25
41
46
71
Namibia
26
29
37
55
70
4
4
6
8
11
Tanzania
81
(13)
19
68
34
11
(2)
3
9
5
USA
111
107
(33)
218
(23)
16
15
(5)
31
(3)
Other
(46)
24
(22)
(22)
(28)
(7)
3
(2)
(3)
(4)
1,688
1,832
1,988
3,520
3,228
239
253
305
492
506
Cash gross profit (loss)
1
South Africa
1,164
1,180
1,520
2,344
2,500
165
163
232
328
392
Argentina
143
154
168
296
268
20
21
26
41
42
Australia
301
311
298
611
472
42
43
46
85
74
Brazil
302
311
264
612
434
43
43
41
86
68
Ghana
207
181
100
388
282
29
25
15
54
45
Guinea
62
114
77
176
162
9
16
12
25
26
Mali
180
231
336
411
569
26
32
52
57
90
Namibia
36
39
50
75
92
5
5
8
11
15
Tanzania
167
60
68
227
133
24
8
10
32
21
USA
164
164
64
327
125
23
23
10
46
20
Other
(26)
42
(8)
21
1
(4)
6
(1)
3
-
2,700
2,788
2,937
5,488
5,037
382
385
452
767
792
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.
1
Gross profit (loss) adjusted for the profit (loss) on unrealised non-hedge derivatives and other commodity contracts plus amortisation of tangible and
intangible assets, less non-cash revenues.
intangible assets, less non-cash revenues.
Refer to note F of "Non-GAAP disclosure" for the definition.
US Dollar million
SA Rand million
Segmental
reporting (continued)
Quarter
Quarter
Quarter
Six months
Six months
Quarter
Quarter
Quarter
Six months
Six months
ended
ended
ended
ended
ended
ended
ended
ended
ended
ended
June
March
June
June
June
June
March
June
June
June
2007
2007
2006
2007
2006
2007
2007
2006
2007
2006
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Gold production
South Africa
South Africa
18,083
17,626
20,150
35,708
39,112
581
567
648
1,148
1,257
Argentina
1,569
1,603
2,004
3,172
3,636
50
52
64
102
117
Australia
4,631
4,605
3,516
9,236
6,337
149
148
113
297
204
Brazil
3,006
2,801
2,526
5,808
4,789
97
90
81
187
154
Ghana
4,198
3,975
4,552
8,173
9,448
135
128
146
263
304
Guinea
1,992
2,270
1,826
4,262
3,602
64
73
59
137
116
Mali
3,164
3,354
4,533
6,518
8,561
102
108
146
210
275
Namibia
621
614
684
1,235
1,362
20
20
22
40
44
Tanzania
2,553
2,412
2,203
4,965
4,829
82
78
71
160
155
USA
2,142
1,980
2,030
4,122
4,014
69
64
65
133
129
41,958
41,239
44,024
83,198
85,691
1,349
1,326
1,415
2,675
2,755
Quarter
Quarter
Quarter
Six months
Six months
Quarter
Quarter
Quarter
Six months
Six months
ended
ended
ended
ended
ended
ended
ended
ended
ended
ended
June
March
June
June
June
June
March
June
June
June
2007
2007
2006
2007
2006
2007
2007
2006
2007
2006
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Capital expenditure
South Africa
South Africa
540
473
472
1,013
879
76
66
73
142
139
Argentina
30
24
12
55
57
4
3
2
8
9
Australia
543
343
66
885
127
77
47
10
124
20
Brazil
268
264
309
532
530
38
37
48
75
84
Ghana
232
192
161
423
267
33
27
25
59
42
Guinea
38
14
28
52
58
5
2
4
7
9
Mali
13
12
10
25
15
2
2
2
3
2
Namibia
6
3
5
8
10
1
-
1
1
2
Tanzania
34
25
84
59
135
5
3
13
8
21
USA
26
48
16
74
43
4
7
2
10
7
Other
250
19
5
270
9
34
3
1
39
2
1,979
1,417
1,168
3,396
2,130
279
196
181
476
337
As at
As at
As at
As at
As at
As at
As at
As at
June
March
June
December
June
March
June
December
2007
2007
2006
2006
2007
2007
2006
2006
Unaudited
Unaudited
Unaudited
Audited
Unaudited
Unaudited
Unaudited
Audited
Total assets
South Africa
South Africa
15,069
15,301
15,927
15,394
2,148
2,097
2,229
2,199
Argentina
1,681
2,007
1,965
1,876
240
275
275
268
Australia
7,611
7,293
5,978
6,447
1,085
1,000
837
921
Brazil
4,369
4,309
3,535
3,961
623
591
495
566
Ghana
13,018
13,422
13,023
12,437
1,855
1,840
1,822
1,776
Guinea
1,934
2,084
2,045
1,974
276
286
286
282
Mali
2,277
2,541
2,273
2,350
324
348
318
336
Namibia
479
457
360
424
68
63
50
61
Tanzania
9,645
10,048
9,151
9,642
1,375
1,377
1,281
1,377
USA
3,551
3,699
3,179
3,566
506
507
445
509
Other
4,640
4,039
3,333
4,545
661
552
467
648
64,274
65,200
60,769
62,616
9,161
8,936
8,505
8,943
Rounding of figures may results in computational discrepancies.
SA Rand million
kg
SA Rand million
oz (000)
US Dollar million
US Dollar million
Notes
for the quarter and six months ended 30 June 2007
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 2006 and revised International
Financial Reporting Standards (IFRS) which are effective 1 January 2007, where applicable.
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 2006 and revised International
Financial Reporting Standards (IFRS) which are effective 1 January 2007, 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 six months ended 30 June 2007.
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 six months ended 30 June 2007.
2.
Revenue
Quarter ended
Six months ended
Quarter ended
Six months ended
Jun
2007
Mar
2007
Jun
2006
Jun
2007
Jun
2006
Jun
2007
Mar
2007
Jun
2006
Jun
2007
Jun
2006
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
SA Rand million
US Dollar million
Revenue consists of the
following principal
categories:
following principal
categories:
Gold income
5,222
5,664
4,798
10,886
9,044
739
783
740
1,522
1,430
By-products (note 3)
178
145
109
323
289
25
20
17
45
46
Interest received
62
73
59
135
89
9
10
9
19
14
5,461
5,882
4,966
11,343
9,422
773
813
766
1,586
1,490
3.
Cost of sales
Quarter ended
Six months ended
Quarter ended
Six months ended
Jun
2007
Mar
2007
Jun
2006
Jun
2007
Jun
2006
Jun
2007
Mar
2007
Jun
2006
Jun
2007
Jun
2006
Unaudited
Unaudited
Unaudited Unaudited
Unaudited Unaudited
Unaudited Unaudited
Unaudited Unaudited
SA Rand million
US Dollar million
Cash operating costs
(3,319)
(3,199)
(2,853) (6,517)
(5,496)
(469)
(443)
(441) (912)
(871)
By-products (note 2)
178
145
109
323
289
25
20
17
45
46
(3,141)
(3,054)
(2,744) (6,194)
(5,207)
(444)
(423)
(424) (867)
(825)
Other cash costs
(165)
(177)
(137)
(342)
(254)
(23)
(25)
(21) (48)
(40)
Total cash costs
(3,305)
(3,231)
(2,881) (6,537)
(5,461)
(468)
(448)
(445) (915)
(865)
Retrenchment costs
(9)
(7)
(13)
(16)
(25)
(1)
(1)
(2) (2)
(4)
Rehabilitation and other
non-cash costs
non-cash costs
(19)
(20)
(25)
(39)
(64)
(3)
(3)
(4)
(5)
(10)
Production costs
(3,333)
(3,258)
(2,919)
(6,591) (5,550)
(471)
(451)
(451) (923)
(880)
Amortisation of tangible
assets
assets
(1,009)
(948)
(951)
(1,957)
(1,810)
(143)
(131)
(147) (274)
(286)
Amortisation of
intangible assets
intangible assets
(3)
(4)
(3)
(7)
(6)
–
–
–
(1)
(1)
Total production costs
(4,346)
(4,210)
(3,873)
(8,556) (7,366)
(615)
(583)
(599)
(1,198)
(1,167)
Inventory change
214
(14)
327
200
348
30
(2)
52
28
56
(4,132)
(4,223)
(3,546) (8,356)
(7,018)
(585)
(584)
(547)
(1,169)
(1,112)
Rounding of figures may result in computational discrepancies.
4.
Other operating expenses
Quarter ended
Six months ended
Quarter ended
Six months ended
Jun
2007
Mar
2007
Jun
2006
Jun
2007
Jun
2006
Jun
2007
Mar
2007
Jun
2006
Jun
2007
Jun
2006
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited Unaudited
Unaudited Unaudited Unaudited
SA Rand million
US Dollar million
Pension and medical defined
benefit provisions
benefit provisions
(25)
(25)
(19)
(50)
(40)
(3)
(4)
(4)
(7)
(6)
Claims filed by former
employees in respect of loss
of employment, work-related
accident injuries and
diseases, governmental
fiscal claims and costs of old
tailings operations
employees in respect of loss
of employment, work-related
accident injuries and
diseases, governmental
fiscal claims and costs of old
tailings operations
(6)
(21)
(18)
(27)
(26)
(1)
(3)
(3)
(4)
(4)
Other
(12)
(1)
(2)
(14)
(3)
(2)
–
–
(2)
–
(43)
(47)
(39)
(91)
(69)
(6)
(7)
(7)
(13)
(10)
5.
Operating special items
Quarter ended
Six months ended
Quarter ended
Six months ended
Jun
2007
Mar
2007
Jun
2006
Jun
2007
Jun
2006
Jun
2007
Mar
2007
Jun
2006
Jun
2007
Jun
2006
Unaudited
Unaudited Unaudited
Unaudited Unaudited
Unaudited Unaudited Unaudited Unaudited
Unaudited
SA Rand million
US Dollar million
Under provision of indirect
taxes
taxes
(6)
–
(33)
(6)
(25)
(1)
–
(5)
(1)
(4)
Impairment of tangible
assets (note 8)
assets (note 8)
–
(1)
–
(1)
(3)
–
–
–
–
–
Recovery of loan
–
21
–
21
–
–
3
–
3
–
Profit on disposal of assets
(note 8)
(note 8)
92
(6)
47
86
52
13
(1)
7
12
8
86
14
14
101
24
12
2
2
14
4
6.
Taxation
Quarter ended
Six months ended
Quarter ended
Six months ended
Jun
2007
Mar
2007
Jun
2006
Jun
2007
Jun
2006
Jun
2007
Mar
2007
Jun
2006
Jun
2007
Jun
2006
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
SA Rand million
US Dollar million
Current tax
Normal taxation
(333)
(442)
(369)
(775)
(592)
(46)
(61)
(56)
(108)
(92)
Disposal of tangible assets
(note 8)
(note 8)
(18)
(4)
(3)
(22)
(6)
(3)
(1)
–
(3)
(1)
Over (under) provision prior
year
year
23
(67)
–
(44)
–
3
(9)
–
(6)
–
(328)
(513)
(372)
(841)
(598)
(46)
(71)
(56)
(117) (93)
Deferred taxation
Temporary differences
31
1
(140)
32
(156)
4
1
(22)
4
(24)
Unrealised non-hedge
derivatives and other
commodity contracts
derivatives and other
commodity contracts
22
82
426
104
628
4
11
55
15
88
Impairment and disposal of
tangible assets (note 8)
tangible assets (note 8)
(6)
(4)
–
(10)
–
(1)
(1)
–
(1)
–
Change in estimated
deferred taxation
deferred taxation
(90)
–
–
(90)
–
(13)
–
–
(13)
–
(43)
79
286
36
473
(6)
11
33
5
64
Total taxation
(371)
(434)
(86)
(805)
(125)
(52)
(60)
(23)
(112)
(29)
Rounding of figures may result in computational discrepancies.
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:
discontinued as the operation has reached the end of its useful life. The results of Ergo are presented
below:
Quarter ended
Six months ended
Quarter ended
Six months ended
Jun
2007
Mar
2007
Jun
2006
Jun
2007
Jun
2006
Jun
2007
Mar
2007
Jun
2006
Jun
2007
Jun
2006
Unaudited Unaudited Unaudited Unaudited
Unaudited
Unaudited Unaudited Unaudited
Unaudited
Unaudited
SA Rand million
US Dollar million
Gold income
2
2
10
4
16
–
–
2
1
3
Cost of Sales
(5)
(5)
(8)
(10)
(14)
(1)
(1)
(1)
(1)
(2)
Gross (loss) profit
(2)
(3)
2
(6)
2
(1)
(1)
–
(1)
1
Taxation
(2)
(3)
(5)
(4)
(13)
–
–
(1)
(1)
(2)
Loss from discontinued
operations
operations
(4)
(6)
(4)
(10)
(11)
(1)
(1)
(1)
(1)
(2)
8.
Headline earnings (loss)
Quarter ended
Six months ended
Quarter ended
Six months ended
Jun
2007
Mar
2007
Jun
2006
Jun
2007
Jun
2006
Jun
2007
Mar
2007
Jun
2006
Jun
2007
Jun
2006
Unaudited Unaudited Unaudited Unaudited Unaudited
Unaudited Unaudited Unaudited
Unaudited
Unaudited
SA Rand million
US Dollar million
The profit (loss) attributable
to equity shareholders has
been adjusted by the
following to arrive at
headline earnings (loss):
to equity shareholders has
been adjusted by the
following to arrive at
headline earnings (loss):
Profit (loss) attributable to
equity shareholders
equity shareholders
1,083
(150)
(1,047)
933
(2,126)
111
19
(54)
131
(241)
Impairment of tangible
assets (note 5)
assets (note 5)
–
1
–
1
3
–
–
–
–
–
(Profit) loss on disposal of
assets (note 5)
assets (note 5)
(92)
6
(47)
(86)
(52)
(13)
1
(7)
(12)
(8)
Impairment of associate
50
–
–
50
–
7
–
–
7
–
Taxation on items above –
current portion (note 6)
current portion (note 6)
18
4
3
22
6
3
1
–
3
1
Taxation on items above –
deferred portion (note 6)
deferred portion (note 6)
6
4
–
10
–
1
1
–
1
–
Net loss from discontinued
operations (note 7)
operations (note 7)
4
6
4
10
11
1
1
1
1
2
Headline earnings (loss)
1,070
(130)
(1,086)
940
(2,159)
109
22
(60)
132
(245)
Cents per share
(1)
Headline earnings (loss)
380
(46)
(398)
334
(802)
39
8
(22)
47
(91)
(1) Calculated on the basic weighted average number of ordinary shares.
Rounding of figures may result in computational discrepancies.
9.
Shares
Quarter ended
Six months ended
Jun
2007
Mar
2007
Jun
2006
Jun
2007
Jun
2006
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
–
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
276,836,030
276,688,382
275,168,569
276,836,030 275,168,569
E ordinary shares in issue
4,115,930
4,149,230
–
4,115,930
–
Total ordinary shares:
280,951,960
280,837,612
275,168,569
280,951,960 275,168,569
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:
for the year, the following were taken into consideration:
Ordinary shares
276,792,157
276,426,639
273,028,361
276,619,448 269,068,365
E Ordinary shares
4,152,725
4,167,212
–
4,150,888
–
Fully vested options
308,961
600,219
–
359,980
–
Weighted average number of shares
281,253,843
281,194,070
273,028,361
281,130,316 269,068,365
Dilutive potential of share options
568,077
641,741
421,807
619,872
563,558
Diluted number of ordinary shares
281,821,920
281,835,811
273,450,168
281,750,188 269,631,923
10.
Ordinary share capital and premium
As at
As at
Jun
2007
Mar
2007
Jun
2006
Dec
2006
Jun
2007
Mar
2007
Jun
2006
Dec
2006
Unaudited
Unaudited
Unaudited
Audited
Unaudited
Unaudited
Unaudited
Audited
SA Rand million
US Dollar million
Balance at beginning of period
23,045
23,045
19,362
19,362
3,292
3,292
3,055
3,055
Ordinary shares issued
146
109
3,015
3,330
19
15
504
550
E ordinary shares (cancelled) issued
(9)
(4)
–
353
(1)
(1)
–
50
Translation
–
–
–
–
(7)
(133)
(427)
(363)
Sub-total
23,182
23,150
22,377
23,045
3,303
3,173
3,132
3,292
Redeemable preference shares held
within the group
within the group
(312)
(312)
(312)
(312)
(44)
(43)
(44)
(45)
Ordinary shares held within the group
(289)
(293)
–
(297)
(41)
(40)
–
(43)
E Ordinary shares held within the group
(344)
(349)
–
(353)
(49)
(48)
–
(50)
Balance at end of period
22,237
22,196
22,065
22,083
3,169
3,042
3,088
3,154
Rounding of figures may result in computational discrepancies.
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 2005
1,115
138
(1,910)
(227)
(1,655)
(2,539)
Loss attributable to equity shareholders
(2,126)
(2,126)
Dividends
(164)
(164)
Net loss on cash flow hedges removed from
equity and reported in income
equity and reported in income
609
609
Net loss on cash flow hedges
(1,712)
(1,712)
Gain on available-for-sale financial assets
8
8
Deferred taxation on items above
343
343
Share-based payment for share awards and
BEE transaction
BEE transaction
15
15
Translation
2,533
1
(109)
2,425
Balance at June 2006
(1,175)
138
623
(226)
(2,501)
(3,141)
Balance at December 2006
(214)
138
436
(45)
(1,503)
(1,188)
Loss attributable to equity shareholders
933
933
Dividends
(668)
(668)
Net loss on cash flow hedges removed from
equity and reported in income
equity and reported in income
536
536
Net loss on cash flow hedges
(67)
(67)
Deferred taxation on items above
(74)
(74)
Share-based payment for share awards and
BEE transaction
BEE transaction
117
117
Translation
385
(8)
377
Balance at June 2007
51
138
821
(45)
(999)
(34)
Retained
Earnings
Non-
distributable
reserves
Foreign
currency
translation
reserve
Actuarial
gains (losses)
Other
Comprehen-
sive
income
Total
US Dollar million
Balance at December 2005
(58)
22 (66)
(36)
(261)
(399)
Loss attributable to equity shareholders
(241)
(241)
Dividends
(26)
(26)
Net loss on cash flow hedges removed from
equity and reported in income
equity and reported in income
95
95
Net loss on cash flow hedges
(240)
(240)
Gain on available-for-sale financial assets
1
1
Deferred taxation on items above
40
40
Share-based payment for share awards and
BEE transaction
BEE transaction
2
2
Translation
(3)
314
4
13
328
Balance at June 2006
(325)
19
248
(32)
(350)
(440)
Balance at December 2006
(209)
20
241
(6)
(215)
(169)
Profit attributable to equity shareholders
131
131
Dividends
(90)
(90)
Net loss on cash flow hedges removed from
equity and reported in income
equity and reported in income
77
77
Net loss on cash flow hedges
(10)
(10)
Deferred taxation on items above
(11)
(11)
Share-based payment for share awards and
BEE transaction
BEE transaction
17
17
Translation
50
50
Balance at June 2007
(168)
20
291
(6)
(142)
(5)
Rounding of figures may result in computational discrepancies.
12.
Minority interests
As at
As at
Jun
2007
Mar
2007
Jun
2006
Dec
2006
Jun
2007
Mar
2007
Jun
2006
Dec
2006
Unaudited
Unaudited
Unaudited
Audited
Unaudited
Unaudited
Unaudited
Audited
SA Rand million
US Dollar million
Balance at beginning of period
436
436
374
374
62
62
59
59
Profit for the period
124
56
98
202
17
8
16
30
Dividends paid
(88)
(25)
(88)
(171)
(12)
(4)
(14)
(25)
Net loss on cash flow hedges removed from
equity and reported in income
equity and reported in income
4
4
5
10
1
1
1
2
Net loss on cash flow hedges
–
(3)
(12)
(12)
–
(1)
(2)
(2)
Translation
(1)
13
42
33
–
–
(1)
(2)
Balance at end of period
475
481
419
436
68
66
59
62
13.
Exchange rates
Jun
2007
Unaudited
Mar
2007
Unaudited
Jun
2006
Unaudited
Dec
2006
Unaudited
Rand/US dollar average for the year to date
7.14
7.22
6.31
6.77
Rand/US dollar average for the quarter
7.07
7.22
6.46
7.31
Rand/US dollar closing
7.02
7.30
7.15
7.00
Rand/Australian dollar average for the year to date
5.78
5.68
4.69
5.10
Rand/Australian dollar average for the quarter
5.88
5.68
4.83
5.63
Rand/Australian dollar closing
5.96
5.90
5.31
5.53
BRL/US dollar average for the year to date
2.04
2.11
2.19
2.18
BRL/US dollar average for the quarter
1.97
2.11
2.18
2.15
BRL/US dollar closing
1.92
2.15
2.16
2.14
14.
Related parties
AngloGold Ashanti, who holds an equity investment of 29.9% in Trans-Siberian Gold plc (TSG), entered into a
significant transaction during the June 2007 quarter with TSG in which two exploration companies were acquired for
a cash consideration of $40million. The companies acquired consist of Amikan (which holds the Veduga deposit
and related exploration and mining licences) and AS APK (which holds the Bogunay deposit and related exploration
and mining licences).
significant transaction during the June 2007 quarter with TSG in which two exploration companies were acquired for
a cash consideration of $40million. The companies acquired consist of Amikan (which holds the Veduga deposit
and related exploration and mining licences) and AS APK (which holds the Bogunay deposit and related exploration
and mining licences).
15.
Capital commitments
Jun
2007
Unaudited
Mar
2007
Unaudited
Jun
2006
Unaudited
Dec
2006
Audited
Jun
2007
Unaudited
Mar
2007
Unaudited
Jun
2006
Unaudited
Dec
2006
Audited
SA Rand million
US Dollar million
Orders placed and outstanding
on capital contracts at the
prevailing rate of exchange
on capital contracts at the
prevailing rate of exchange
4,216
4,045
2,726
2,475
601
554
382
354
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.
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.
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.
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.
Rounding of figures may result in computational discrepancies.
16. Contingent liabilities
AngloGold Ashanti’s contingent liabilities at 30 June 2007 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, which belongs to Stilfontein. Following an attempt by DRDGold to liquidate its
North West operations and avoid incurring pumping cost, AngloGold Ashanti Limited launched an urgent
application against DRDGold 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 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 Margaret Shaft.
pumping of the Margaret shaft, which belongs to Stilfontein. Following an attempt by DRDGold to liquidate its
North West operations and avoid incurring pumping cost, AngloGold Ashanti Limited launched an urgent
application against DRDGold 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 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 Margaret Shaft.
The three mining companies, Simmer and Jack Mines, Harmony Gold Mining Company and AngloGold Ashanti,
are finalising an arrangement in which responsibility for the water pumping will be transferred to an independent
newly formed company. The group 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. The operational cost
going forward will be apportioned to the three parties and form part of working cost for the group.
are finalising an arrangement in which responsibility for the water pumping will be transferred to an independent
newly formed company. The group 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. The operational cost
going forward will be apportioned to the three parties and form part of working cost for the group.
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.
may have to be amended. Due to this uncertainty, no estimate is made of any potential liabilities.
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 geologic 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.
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 geologic 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.
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.
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 Goiás 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 export gold mined in
the state of Goias, through a branch located in a different Brazilian State, it must obtain an authorisation from the
Goiás 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. AngloGold Ashanti Brasil Mineração
Ltda manages the operation and its attributable share of the first assessment is approximately $33m. Although
MSG requested the TARE in early 2004, the TARE, which authorised the remittance of gold to the company’s
branch in Minas Gerais specifically for export purposes, was only granted and executed in May 2006. In
November 2006 the administrative council’s second chamber ruled in favour of Serra Grande and fully cancelled
the tax liability related to the first period. The State of Goiás has appealed to the full board of the State of Goiás
tax administrative council. The second assessment was issued by the State of Goiás in October 2006 on the
same grounds as the first one, and the attributable share of the assessment is approximately $20m. The company
believes both assessments are in violation of Federal legislation on sales taxes.
Brazil, has received two tax assessments from the State of Goiás 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 export gold mined in
the state of Goias, through a branch located in a different Brazilian State, it must obtain an authorisation from the
Goiás 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. AngloGold Ashanti Brasil Mineração
Ltda manages the operation and its attributable share of the first assessment is approximately $33m. Although
MSG requested the TARE in early 2004, the TARE, which authorised the remittance of gold to the company’s
branch in Minas Gerais specifically for export purposes, was only granted and executed in May 2006. In
November 2006 the administrative council’s second chamber ruled in favour of Serra Grande and fully cancelled
the tax liability related to the first period. The State of Goiás has appealed to the full board of the State of Goiás
tax administrative council. The second assessment was issued by the State of Goiás in October 2006 on the
same grounds as the first one, and the attributable share of the assessment is approximately $20m. 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 tax administrators rejected the company’s appeal against the assessment. The company is now
dismissing the case at the judicial sphere. The company’s attributable share of the assessment is approximately
$6m.
to sales taxes on gold allegedly returned from the branch in Minas Gerais to the company head office in the State
of Goiás. The tax administrators rejected the company’s appeal against the assessment. The company is now
dismissing the case at the judicial sphere. 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.
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.
Tax Dispute – Brazil – Morro Velho is involved in a dispute with tax authorities. The state of Minas Gerais has
denied a tax credit due to improper classification on the relevant forms. The amount involved is approximately
$3m.
denied a tax credit due to improper classification on the relevant forms. The amount involved is approximately
$3m.
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. There is doubt if amounts
are actually due and payable under applicable law. The amount involved is approximately $2m.
payments towards the social security system in Brazil during the period 1997 to 2004. There is doubt if amounts
are actually due and payable under applicable law. The amount involved is approximately $2m.
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.
Namibia to pay the outstanding capital cost of the water pipeline in the event of mine closure prior to 2019.
17.
Concentration of risk
There is a concentration of risk in respect of reimbursable value added tax and fuel duties from the Malian
government:
government:
•
Reimbursable value added tax due from the Malian government amounts to an attributable $32m at 30 June
2007 (31 March 2007: attributable $37m). The last audited value added tax return was for the period ended
31 December 2006 and at the balance sheet date an attributable $25m was still outstanding and $7m 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.
31 December 2006 and at the balance sheet date an attributable $25m was still outstanding and $7m 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 amounts to an attributable $8m at 30 June 2007
(31 March 2007: attributable $10m). 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 $1m,
which is still outstanding, whilst an attributable $7m 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.
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 $1m,
which is still outstanding, whilst an attributable $7m 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 protocol agreements governing repayments
of certain of these amounts have been signed. All payments as scheduled in terms of the protocol agreements
have been recovered up to June 2007. The amounts outstanding have been discounted to their present value at a
rate of 5%.
of certain of these amounts have been signed. All payments as scheduled in terms of the protocol agreements
have been recovered up to June 2007. The amounts outstanding have been discounted to their present value at a
rate of 5%.
There is a concentration of risk in respect of reimbursable value added tax and fuel duties from the Tanzanian
government:
government:
•
Reimbursable value added tax due from the Tanzanian government amounts to $17m at 30 June 2007
(31 March 2007: $15m). The last audited value added tax return was for the period ended 30 November 2006
and at the balance sheet date $14m was still outstanding and $3m 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. The outstanding amounts have been discounted to their present
value at a rate of 5%.
and at the balance sheet date $14m was still outstanding and $3m 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. The outstanding amounts have been discounted to their present
value at a rate of 5%.
•
Reimbursable fuel duties from the Tanzanian government amounts to $26m at 30 June 2007 (31 March
2007: $22m). 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
$18m have been lodged with the Customs and Excise authorities, which are still outstanding, whilst claims for
refund of $8m 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.
The outstanding amounts have been discounted to their present value at a rate of 5%.
2007: $22m). 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
$18m have been lodged with the Customs and Excise authorities, which are still outstanding, whilst claims for
refund of $8m 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.
The outstanding amounts have been discounted to their present value at a rate of 5%.
18.
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.
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.
19.
Borrowings
AngloGold Ashanti's borrowings are interest bearing.
20.
Announcements
On 4 May 2007, AngloGold Ashanti announced that Mr C B Brayshaw and Mr A J Trahar retired from the board
effective 5 May 2007. AngloGold Ashanti, further announced that Mrs C Carroll had been appointed as a non-
executive director with effect from 5 May 2007.
effective 5 May 2007. AngloGold Ashanti, further announced that Mrs C Carroll had been appointed as a non-
executive director with effect from 5 May 2007.
On 1 June 2007, AngloGold Ashanti announced the commencement of a pre-feasibility study at the Tropicana gold
project in Western Australia. This study was expected to be completed in mid 2008 and would focus on the
Tropicana and Havana zones and would only consider open-cut resources.
project in Western Australia. This study was expected to be completed in mid 2008 and would focus on the
Tropicana and Havana zones and would only consider open-cut resources.
On 8 June 2007, AngloGold Ashanti announced the sale of most of the remaining moveable and immovable assets
of Ergo, the surface reclamation operation east of Johannesburg, discontinued in March 2005, to a consortium of
Mintails South Africa (Pty) Limited / DRD South African Operations (Pty) Limited Joint Venture for R42.8m.
of Ergo, the surface reclamation operation east of Johannesburg, discontinued in March 2005, to a consortium of
Mintails South Africa (Pty) Limited / DRD South African Operations (Pty) Limited Joint Venture for R42.8m.
21.
Dividend
The directors have today declared Interim Dividend No. 102 (Interim Dividend No. 100: 210) of 90 South African
cents per ordinary share for the six months ended 30 June 2007. 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:
cents per ordinary share for the six months ended 30 June 2007. 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
Each CDI represents one-fifth of an ordinary share
2007
Currency conversion date for UK pounds, Australian dollars and Ghanaian cedis
Thursday, 16 August
Last date to trade ordinary shares cum dividend
Friday, 17 August
Last date to register transfers of certificated securities cum dividend
Friday, 17 August
Ordinary shares trade ex dividend
Monday, 20 August
Record date
Friday, 24 August
Payment date
Friday, 31 August
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.
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.
relevant CSDP or broker.
To comply with the further requirements of STRATE, between Monday, 20 August 2007 and Friday,
24 August 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.
24 August 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, 22 August
Record date
Friday, 24 August
Approximate date for currency conversion
Friday, 31 August
Approximate payment date of dividend
Monday, 10 September
Assuming an exchange rate of R6.97/$1, the dividend payable on an ADS is equivalent to 13 US cents.
This compares with the final dividend of 32.384 US cents per ADS paid on 26 March 2007. However,
the actual rate of payment will depend on the exchange rate on the date for currency conversion.
This compares with the final dividend of 32.384 US cents per ADS paid on 26 March 2007. 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, 17 August
GhDSs trade ex dividend
Monday, 20 August
Record date
Friday, 24 August
Approximate payment date of dividend
Monday, 3 September
Assuming an exchange rate of R1/¢1,315.804, the dividend payable per GhDS is equivalent to
11.84 cedis. This compares with the final dividend of 30.41 cedis per Ghanaian Depositary Share
(GhDS) paid on 19 March 2007. 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%.
11.84 cedis. This compares with the final dividend of 30.41 cedis per Ghanaian Depositary Share
(GhDS) paid on 19 March 2007. 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. E2 of 45 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, 31 August 2007.
payable to employees participating in the Bokamoso ESOP and Izingwe Holdings (Proprietary) Limited.
These dividends are payable on Friday, 31 August 2007.
By order of the Board
R P EDEY
R M GODSELL
Chairman
Chief Executive Officer
30 July 2007
Non-GAAP
disclosure
A
Jun
Mar
Jun
Jun
Jun
Jun
Mar
Jun
Jun
Jun
2007
2007
2006
2007
2006
2007
2007
2006
2007
2006
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited Unaudited
Headline earnings (loss) (note 8)
1,070
(130)
(1,086)
940
(2,159)
109
22
(60)
132
(245)
Profit (loss) on unrealised non-hedge derivatives and other
commodity contracts (note C)
commodity contracts (note C)
(242)
1,054
2,583
812
4,149
8
106
280
114
544
Deferred tax on unrealised non-hedge derivatives and other
commodity contracts (note 6)
commodity contracts (note 6)
(22)
(82)
(426)
(104)
(628)
(4)
(11)
(55)
(15)
(88)
Fair value adjustment on option component of convertible
bond
bond
(223)
(135)
(158)
(358)
75
(32)
(19)
(25)
(51)
14
Headline earnings adjusted for the profit (loss) on unrealised
non-hedge derivatives, other commodity contracts and fair
value adjustments on convertible bond
non-hedge derivatives, other commodity contracts and fair
value adjustments on convertible bond
(2)
583
707
911
1,290
1,436
82
98
140
180
225
Cents per share
(1)
Headline earnings adjusted for the profit (loss) on unrealised
non-hedge derivatives, other commodity contracts and fair
value adjustments on convertible bond
non-hedge derivatives, other commodity contracts and fair
value adjustments on convertible bond
(2)
207
251
334
459
534
29
35
51
64
84
B
Jun
Mar
Jun
Jun
Jun
Jun
Mar
Jun
Jun
Jun
2007
2007
2006
2007
2006
2007
2007
2006
2007
2006
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited Unaudited
Reconciliation of gross profit (loss) to gross profit adjusted
for the loss on unrealised non-hedge derivatives and other
commodity contracts:
Gross profit (loss)
for the loss on unrealised non-hedge derivatives and other
commodity contracts:
Gross profit (loss)
1,930
778
(594)
2,708
(921)
231
147
25
378
(39)
Profit (loss) on unrealised non-hedge derivatives and other
commodity contracts (note C)
commodity contracts (note C)
(242)
1,054
2,583
812
4,149
8
106
280
114
544
Gross profit (loss) adjusted for the profit (loss) on unrealised
non-hedge derivatives and other commodity contracts
non-hedge derivatives and other commodity contracts
1,688
1,832
1,988
3,520
3,228
239
253
305
492
506
Rounding of figures may results in computational discrepancies.
US Dollar million
SA Rand million
SA Rand million
(1)
Calculated on the basic weighted average number of ordinary shares.
(2)
Profit (loss) on non-hedge derivatives and other commodity contracts in the income statement comprise the change in fair value of all non-hedge derivatives and
other commodity contracts 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.
- 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, other commodity contracts and fair value adjustments on convertible bond, is intended to illustrate earnings
after adjusting for:
after adjusting for:
From time to time AngloGold Ashanti may publicly disclose certain "non-GAAP" financial measures in the course of its financial presentations, earnings releases, earnings conference calls
and otherwise.
and otherwise.
The group utilises certain non-GAAP performance measures and ratios in managing its 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.
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 profit (loss) on unrealised non-hedge derivatives, other commodity contracts and fair value adjustments on convertible bond
Quarter ended
Quarter ended
Six months ended
Six months ended
- 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;
period;
- Investment in hedge restructure transaction: During the hedge restructure in December 2004 and March 2005 quarters, $83m and $69m in cash was injected respectively into the
hedge book in these quarters to increase the value of long-dated contracts. The entire investment is short-dated derivatives (certain of which have now matured), which for the
purposes of the adjustment to earnings, will only be taken into account when the realised portion of long-dated non-hedge derivatives are settled, and not when the short-term
contracts are settled;
hedge book in these quarters to increase the value of long-dated contracts. The entire investment is short-dated derivatives (certain of which have now matured), which for the
purposes of the adjustment to earnings, will only be taken into account when the realised portion of long-dated non-hedge derivatives are settled, and not when the short-term
contracts are settled;
- The unrealised fair value change on the option component of the convertible bond; and
US Dollar million
- The unrealised fair value change on the onerous uranium contracts
Quarter ended
Gross profit (loss) adjusted for the profit (loss) on unrealised non-hedge derivatives and other commodity contracts
Six months ended
Quarter ended
Six months ended
Jun
Mar
Jun
Jun
Jun
Jun
Mar
Jun
Jun
Jun
2007
2007
2006
2007
2006
2007
2007
2006
2007
2006
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited Unaudited
C
Non-hedge derivative gain (loss) is summarised as:
Gain on realised non-hedge derivatives (note D)
598
392
736
990
1,202
84
54
112
139
187
Gain (loss) on unrealised non-hedge derivatives
99
(1,001)
(2,547)
(902)
(4,131)
(28)
(98)
(275)
(127)
(542)
Unrealised gain (loss) on other commodity physical
borrowings
borrowings
19
(47)
(36)
(28)
(35)
3
(7)
(5)
(4)
(5)
Provision for loss on future deliveries of other commodities
125
(6)
-
119
17
18
(1)
-
17
3
Gain (loss) on non-hedge derivatives and other commodity
contracts
contracts
840
(662)
(1,847)
179
(2,947)
77
(51)
(169)
25
(357)
D
Price received
Gold income
5,222
5,664
4,798
10,886
9,044
739
783
740
1,522
1,430
Adjusted for minority interests
(226)
(240)
(214)
(463)
(376)
(32)
(33)
(34)
(65)
(60)
4,996
5,424
4,584
10,423
8,668
707
750
706
1,457
1,370
Gain on realised non-hedge derivatives (note C)
598
392
736
990
1,202
84
54
112
139
187
5,594
5,816
5,320
11,413
9,870
791
805
818
1,596
1,557
Attributable gold sold - kg / - oz (000)
40,661
41,558
42,424
82,219
84,588
1,307
1,336
1,364
2,643
2,720
Revenue price per unit - R/kg / - $/oz
137,579
139,953
125,409
138,807
116,683
605
602
600
604
573
E
Total costs
Total cash costs (note 3)
3,305
3,231
2,881
6,537
5,461
468
448
445
915
865
Adjusted for minority interests and non-gold producing
companies
companies
(127)
(56)
(95)
(180)
(133)
(18)
(8)
(14)
(25)
(20)
Total cash costs adjusted for minority interests and non-
gold producing companies
gold producing companies
3,178
3,175
2,786
6,357
5,328
450
440
431
890
845
Retrenchment costs (note 3)
9
7
13
16
25
1
1
2
2
4
Rehabilitation and other non-cash costs (note 3)
19
20
25
39
64
3
3
4
5
10
Amortisation of tangible assets (note 3)
1,009
948
951
1,957
1,810
143
131
147
274
286
Amortisation of intangible assets (note 3)
3
4
3
7
6
-
-
-
1
1
Adjusted for minority interests and non-gold producing
companies
companies
(33)
(34)
(29)
(67)
(55)
(5)
(5)
(4)
(9)
(9)
Total production costs adjusted for minority interests
and non-gold producing companies
and non-gold producing companies
4,185
4,120
3,749
8,309
7,178
592
571
580
1,163
1,138
Gold produced - kg / - oz (000)
41,958
41,239
44,024
83,198
85,691
1,349
1,326
1,415
2,675
2,755
Total cash cost per unit - R/kg / -$/oz
75,724
76,991
63,276
76,406
62,181
333
332
305
333
307
Total production cost per unit - R/kg / -$/oz
99,734
99,905
85,168
99,872
83,767
439
430
410
435
413
F
Cash gross profit
Gross profit adjusted for the profit (loss) on unrealised non-
hedge derivatives and other commodity contracts (note B)
hedge derivatives and other commodity contracts (note B)
1,688
1,832
1,988
3,520
3,228
239
253
305
492
506
Amortisation of tangible assets (note 3)
1,009
948
951
1,957
1,810
143
131
147
274
286
Amortisation of intangible assets (note 3)
3
4
3
7
6
-
-
-
1
1
Non-cash revenues
-
4
(5)
4
(8)
-
1
(1)
1
(1)
2,700
2,788
2,937
5,488
5,037
382
385
452
767
792
G
EBITDA
Operating profit (loss)
1,527
339
(900)
1,866
(1,472)
174
86
(22)
260
(125)
Amortisation of tangible assets (note 3)
1,009
948
951
1,957
1,810
143
131
147
274
286
Amortisation of intangible assets (note 3)
3
4
3
7
6
-
-
-
1
1
Impairment of tangible assets (note 5)
-
1
-
1
3
-
-
-
-
-
Profit (loss) on unrealised non-hedge derivatives and other
commodity contracts (note C)
commodity contracts (note C)
(242)
1,054
2,583
812
4,149
8
106
280
114
544
Share of associates' EBITDA
(2)
(3)
(1)
(4)
(4)
-
-
-
(1)
(1)
(Profit) loss on disposal of assets
(92)
6
(47)
(86)
(52)
(13)
1
(7)
(12)
(8)
2,204
2,349
2,590
4,552
4,440
312
325
398
636
698
Rounding of figures may results in computational discrepancies.
SA Rand million / Metric
Quarter ended
Quarter ended
Six months ended
Six months ended
US Dollar million / Imperial
Jun
Mar
Jun
Jun
Jun
Jun
Mar
Jun
Jun
Jun
2007
2007
2006
2007
2006
2007
2007
2006
2007
2006
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited Unaudited
H
Interest cover
EBITDA (note G)
2,204
2,349
2,590
4,552
4,440
312
325
398
636
698
Finance costs
220
200
209
419
419
31
28
32
59
67
Capitalised finance costs
12
12
19
24
28
2
2
3
3
4
232
211
228
443
447
33
29
35
62
71
Interest cover - times
10
11
11
10
10
9
11
11
10
10
I
Free cash flow
Net cash inflow from operating activities
1,128
1,750
1,963
2,878
3,415
160
240
302
400
538
Stay-in-business capital expenditure
(884)
(785)
(696)
(1,669)
(1,320)
(125)
(109)
(108)
(234)
(209)
244
965
1,267
1,209
2,095
35
131
195
166
329
As at
As at
As at
As at
As at
As at
As at
As at
Jun
Mar
Jun
Dec
Jun
Mar
Jun
Dec
2007
2007
2006
2006
2007
2007
2006
2006
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
J
Net asset value - cents per share
Total equity
22,678
21,716
19,343
21,331
3,232
2,977
2,707
3,047
Number of ordinary shares in issue - millions (note 9)
281
281
275
280
281
281
275
280
Net asset value - cents per share
8,072
7,733
7,030
7,607
1,150
1,060
984
1,087
Total equity
22,678
21,716
19,343
21,331
3,232
2,977
2,707
3,047
Intangible assets
(3,041)
(3,073)
(2,873)
(2,909)
(433)
(421)
(402)
(415)
19,637
18,643
16,470
18,422
2,799
2,556
2,305
2,632
Number of ordinary shares in issue - millions (note 9)
281
281
275
280
281
281
275
280
Net tangible asset value - cents per share
6,989
6,638
5,985
6,569
996
910
838
939
K
Net debt
Borrowings - long-term portion
9,293
9,010
9,375
9,963
1,325
1,235
1,312
1,423
Borrowings - short-term portion
2,056
1,725
465
413
293
236
65
59
Total borrowings
11,349
10,735
9,840
10,376
1,618
1,471
1,377
1,482
Cash and cash equivalents
(2,792)
(2,919)
(2,450)
(3,467)
(398)
(400)
(343)
(495)
Net debt
8,557
7,816
7,390
6,909
1,220
1,071
1,034
987
Rounding of figures may results in computational discrepancies.
SA Rand million
US Dollar million
SA Rand million / Metric
Six months ended
US Dollar million / Imperial
Quarter ended
Quarter ended
Six months ended
Development
for the quarter ended 30 June 2007
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
Great Noligwa
Vaal reef
2,288
256
105.9
34.28
3,630
2.16
175.74
Kopanang
Vaal reef
Vaal reef
6,083
454
17.6
99.09
1,744
4.86
91.43
Tau Lekoa
Ventersdorp Contact reef
Ventersdorp Contact reef
2,224
220
118.3
5.01
593
0.11
13.92
Moab Khotsong
Vaal reef
Vaal reef
3,806
274
136.6
17.65
2,411
0.84
115.04
WEST WITS
TauTona
Ventersdorp Contact reef
TauTona
Ventersdorp Contact reef
203
-
-
-
-
-
-
Carbon Leader reef
2,877
78
14.2
149.08
2,117
1.73
24.03
Savuka
Carbon Leader reef
Carbon Leader reef
482
-
-
-
-
-
-
Mponeng
Ventersdorp Contact reef
Ventersdorp Contact reef
4,604
728
93.5
20.29
1,897
-
-
AUSTRALIA
Sunrise Dam
Sunrise Dam
847
847
-
3.32
-
-
-
BRAZIL
AngloGold Ashanti Brasil Mineração
Mine de Cuiabá
AngloGold Ashanti Brasil Mineração
Mine de Cuiabá
1,298
38
87.0
2.83
-
-
-
Córrego do Sitio
729
205
-
5.71
-
-
-
Lamego
798
137
70.0
2.30
-
-
-
Serra Grande
Mina Ill
Mina Ill
771
112
100.0
7.20
-
-
-
Mina Nova
129
-
-
-
-
-
-
GHANA
Obuasi
Obuasi
6,409
2,172
400.0 *
7.52
3,008
-
-
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
Great Noligwa
Vaal reef
7,506
840
41.7
1.00
3.47
4.32
15.01
Kopanang
Vaal reef
Vaal reef
19,958
1,490
6.9
2.89
1.67
9.72
5.61
Tau Lekoa
Ventersdorp Contact reef
Ventersdorp Contact reef
7,297
722
46.6
0.15
0.57
0.22
0.85
Moab Khotsong
Vaal reef
Vaal reef
12,486
899
53.8
0.51
2.31
1.68
7.53
WEST WITS
TauTona
Ventersdorp Contact reef
TauTona
Ventersdorp Contact reef
665
-
-
-
-
-
-
Carbon Leader reef
9,438
256
5.6
4.35
2.03
3.46
1.61
Savuka
Carbon Leader reef
Carbon Leader reef
1,580
-
-
-
-
-
-
Mponeng
Ventersdorp Contact reef
Ventersdorp Contact reef
15,106
2,388
36.8
0.59
1.82
-
-
AUSTRALIA
Sunrise Dam
Sunrise Dam
2,779
2,779
-
0.10
-
-
-
BRAZIL
AngloGold Ashanti Brasil Mineração
Mina de Cuiabá
AngloGold Ashanti Brasil Mineração
Mina de Cuiabá
4,258
123
34.3
-
-
-
-
Córrego do Sitio
2,390
671
-
-
-
-
-
Lamego
2,618
449
27.6
-
-
-
-
Serra Grande
Mina Ill
Mina Ill
2,530
367
39.4
-
-
-
-
Mina Nova
423
-
-
-
-
-
-
GHANA
Obuasi
Obuasi
21,026
7,124
157.5 *
0.22
-
-
-
* 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
Quarter
Quarter
Six months
Quarter
Quarter
Quarter
Six months
ended
ended
ended
ended
ended
ended
ended
ended
June
March
June
June
June
March
June
June
2007
2007
2006
2007
2007
2007
2006
2007
SA Rand / US Dollar
SOUTH AFRICA
540
473
472
1,013
76
66
73
142
Vaal River
Great Noligwa
Great Noligwa
59
52
56
111
8
7
9
16
Kopanang
84
81
52
165
12
11
8
23
Moab Khotsong
143
111
138
254
20
15
21
36
Tau Lekoa
23
20
13
43
3
3
2
6
Surface Operations
2
1
22
3
-
-
3
-
West Wits
Mponeng
Mponeng
105
102
69
207
15
14
11
29
Savuka
13
8
4
22
2
1
1
3
TauTona
111
98
118
209
16
14
18
29
ARGENTINA
30
24
12
55
4
3
2
8
Cerro Vanguardia - Attributable 92.50%
28
22
11
51
4
3
2
7
Minorities and exploration
2
2
1
4
-
-
-
1
AUSTRALIA
543
343
66
885
77
47
10
124
Sunrise Dam
45
41
41
86
6
6
6
12
Boddington
493
296
24
788
69
41
4
110
Exploration
5
6
1
11
2
-
-
2
BRAZIL
268
264
309
532
38
37
48
75
AngloGold Ashanti Brasil Mineração
217
234
277
451
31
32
43
63
Serra Grande - Attributable 50%
24
14
15
38
3
2
2
5
Minorities, exploration and other
27
16
17
43
4
3
3
7
GHANA
232
192
161
423
33
27
25
59
Iduapriem - Attributable 85%
28
8
3
36
4
1
-
5
Obuasi
198
182
156
380
28
25
24
53
Minorities and exploration
6
2
2
7
1
1
1
1
GUINEA
38
14
28
52
5
2
4
7
Siguiri - Attributable 85%
32
12
24
44
5
2
4
6
Minorities and exploration
6
2
4
8
-
-
-
1
MALI
13
12
10
25
2
2
2
3
Morila - Attributable 40%
1
1
1
2
-
-
-
-
Sadiola - Attributable 38%
6
6
7
12
1
1
1
2
Yatela - Attributable 40%
5
5
1
10
1
1
-
1
NAMIBIA
6
3
5
8
1
-
1
1
Navachab
6
3
5
8
1
-
1
1
TANZANIA
34
25
84
59
5
3
13
8
Geita
34
25
84
59
5
3
13
8
USA
26
48
16
74
4
7
2
10
Cripple Creek & Victor J.V.
26
47
16
74
4
7
2
10
OTHER
250
19
5
270
34
3
1
39
ANGLOGOLD ASHANTI
1,979
1,417
1,168
3,396
279
196
181
476
Rounding of figures may results in computational discrepancies.
Capital expenditure - Rm
Capital expenditure - $m
Key
operating results
PER REGION & OPERATION
Quarter
Quarter
Quarter
Six months
Quarter
Quarter
Quarter
Six months
ended
ended
ended
ended
ended
ended
ended
ended
June
March
June
June
June
March
June
June
2007
2007
2006
2007
2007
2007
2006
2007
Metric
SOUTH AFRICA
18,083
17,626
20,150
35,708
Vaal River
Great Noligwa
Great Noligwa
7.67
8.41
8.11
8.02
3,876
3,863
4,767
7,739
Kopanang
6.48
6.77
7.19
6.62
3,156
2,989
3,561
6,145
Moab Khotsong
6.68
8.16
6.83
7.39
392
439
338
832
Tau Lekoa
3.19
3.70
3.61
3.44
1,223
1,325
1,289
2,548
Surface Operations
0.52
0.50
0.50
0.51
1,030
1,023
970
2,053
West Wits
Mponeng
Mponeng
9.65
9.56
10.38
9.61
4,778
4,435
4,853
9,212
Savuka
6.81
7.01
7.17
6.91
552
571
653
1,123
TauTona
2
9.39
9.99
9.70
9.68
3,075
2,981
3,718
6,056
ARGENTINA
1,569
1,603
2,004
3,172
Cerro Vanguardia - Attributable 92.50%
6.61
7.25
8.92
6.92
1,569
1,603
2,004
3,172
AUSTRALIA
4,631
4,605
3,516
9,236
Sunrise Dam
3
4.86
4.63
3.27
4.73
4,631
4,605
3,516
9,236
BRAZIL
3,006
2,801
2,526
5,808
AngloGold Ashanti Brasil Mineração
2
6.80
7.71
7.45
7.22
2,264
2,064
1,766
4,328
Serra Grande - Attributable 50%
7.19
7.31
7.50
7.25
742
738
760
1,480
GHANA
4,198
3,975
4,552
8,173
Bibiani
-
-
0.47
-
-
-
274
-
Iduapriem - Attributable 85%
1.78
1.87
1.77
1.81
1,347
848
1,265
2,195
Obuasi
2
4.16
4.83
4.33
4.49
2,851
3,127
3,013
5,978
GUINEA
1,992
2,270
1,826
4,262
Siguiri
3
- Attributable 85%
1.01
1.06
1.16
1.04
1,992
2,270
1,826
4,262
MALI
3,164
3,354
4,533
6,518
Morila - Attributable 40%
2.57
3.04
4.22
2.81
1,080
1,284
1,684
2,365
Sadiola - Attributable 38%
2.63
2.50
3.50
2.56
1,048
977
1,607
2,025
Yatela
4
- Attributable 40%
5.14
3.25
4.92
4.27
1,036
1,093
1,242
2,129
NAMIBIA
621
614
684
1,235
Navachab
1.55
1.47
1.95
1.51
621
614
684
1,235
TANZANIA
2,553
2,412
2,203
4,965
Geita
2.21
1.80
1.50
1.99
2,553
2,412
2,203
4,965
USA
2,142
1,980
2,030
4,122
Cripple Creek & Victor J.V.
4
0.50
0.56
0.54
0.53
2,142
1,980
2,030
4,122
ANGLOGOLD ASHANTI
41,958
41,239
44,024
83,198
Underground Operations
6.70
7.22
7.24
6.95
22,817
22,296
24,379
45,113
Surface and Dump Reclamation
0.53
0.52
0.50
0.52
1,680
1,694
1,663
3,374
Open-pit Operations
2.29
2.25
2.26
2.27
14,033
14,083
14,415
28,117
Heap Leach Operations
1
0.82
0.73
0.80
0.78
3,428
3,167
3,567
6,595
41,958
41,239
44,024
83,198
4
Yatela and Cripple Creek & Victor Joint Venture operations yield
reflects gold placed/tonnes placed.
Rounding of figures may results in computational discrepancies.
3
The yield of Sunrise Dam and Siguiri represents open-pit operations.
Yield - g/t
Gold produced - kg
1
The yield is calculated on gold placed into leach pad inventory / tonnes placed on to leach pad.
2
The yield of TauTona, AngloGold Ashanti Brasil Mineração and Obuasi represents underground operations.
Key
operating results
PER REGION & OPERATION
Quarter
Quarter
Quarter
Six months
Quarter
Quarter
Quarter
Six months
ended
ended
ended
ended
ended
ended
ended
ended
June
March
June
June
June
March
June
June
2007
2007
2006
2007
2007
2007
2006
2007
Metric
SOUTH AFRICA
229
228
264
228
17,835
17,537
19,488
35,372
Vaal River
Great Noligwa
Great Noligwa
190
193
242
192
3,836
3,865
4,606
7,702
Kopanang
208
199
227
203
3,106
3,007
3,452
6,113
Moab Khotsong
110
147
128
127
393
434
328
827
Tau Lekoa
148
161
152
155
1,215
1,315
1,253
2,531
Surface Operations
1,518
1,513
1,263
1,515
1,025
1,022
928
2,046
West Wits
Mponeng
Mponeng
316
300
349
308
4,702
4,385
4,692
9,087
Savuka
172
177
207
175
545
563
646
1,108
TauTona
244
238
308
241
3,012
2,946
3,584
5,959
ARGENTINA
782
819
1,145
800
1,533
1,605
2,122
3,138
Cerro Vanguardia-Attributable 92.50%
782
819
1,145
800
1,533
1,605
2,122
3,138
AUSTRALIA
3,958
3,987
2,646
3,972
4,227
4,522
3,496
8,749
Sunrise Dam
4,356
4,353
3,031
4,355
4,227
4,522
3,496
8,749
BRAZIL
600
583
596
591
2,898
3,025
2,551
5,923
AngloGold Ashanti Brasil Mineração
541
517
511
529
2,146
2,171
1,750
4,317
Serra Grande - Attributable 50%
898
904
971
901
752
855
801
1,606
GHANA
234
227
224
230
4,089
3,886
4,024
7,975
Bibiani
-
-
572
-
-
-
221
-
Iduapriem - Attributable 85%
614
391
611
503
1,308
848
1,130
2,156
Obuasi
181
204
169
192
2,781
3,038
2,673
5,819
GUINEA
474
570
447
521
1,944
2,280
1,826
4,225
Siguiri - Attributable 85%
474
570
447
521
1,944
2,280
1,826
4,225
MALI
857
914
1,457
885
3,139
3,714
4,177
6,853
Morila - Attributable 40%
714
855
1,270
785
1,057
1,333
1,520
2,390
Sadiola - Attributable 38%
745
684
1,508
714
1,086
1,180
1,542
2,266
Yatela - Attributable 40%
1,335
1,481
1,723
1,406
996
1,201
1,115
2,197
NAMIBIA
621
629
747
625
641
675
629
1,316
Navachab
621
629
747
625
641
675
629
1,316
TANZANIA
433
373
381
402
2,340
2,421
2,100
4,761
Geita
433
373
381
402
2,340
2,421
2,100
4,761
USA
2,511
1,729
2,069
2,063
2,015
1,892
2,009
3,906
Cripple Creek & Victor J.V.
2,511
1,729
2,069
2,063
2,015
1,892
2,009
3,906
ANGLOGOLD ASHANTI
339
337
360
338
40,661
41,558
42,424
82,219
Rounding of figures may results in computational discrepancies.
Productivity per employee - g
Gold sold - kg
Key
operating results
PER REGION & OPERATION
Quarter
Quarter
Quarter
Six months
Quarter
Quarter
Quarter
Six months
ended
ended
ended
ended
ended
ended
ended
ended
June
March
June
June
June
March
June
June
2007
2007
2006
2007
2007
2007
2006
2007
SA Rand / Metric
SOUTH AFRICA
71,551
72,979
59,200
72,255
95,830
95,214
78,854
95,526
Vaal River
Great Noligwa
Great Noligwa
72,747
84,059
57,253
78,393
96,266
105,277
73,661
100,764
Kopanang
66,677
69,223
60,958
67,916
85,412
88,284
74,306
86,809
Moab Khotsong
157,986
134,175
137,630
145,412
248,698
214,596
224,472
230,688
Tau Lekoa
106,673
100,102
92,719
103,256
142,841
134,273
124,569
138,385
Surface Operations
67,662
58,471
55,290
63,082
74,591
65,161
62,634
69,892
West Wits
Mponeng
Mponeng
56,082
59,318
47,250
57,640
74,592
76,284
68,188
75,406
Savuka
97,989
82,550
73,967
90,141
119,954
96,912
83,203
108,242
TauTona
70,629
64,782
55,276
67,751
103,544
92,322
78,155
98,020
ARGENTINA
58,958
44,393
39,959
51,598
86,380
72,520
61,167
79,376
Cerro Vanguardia-Attributable 92.50%
57,982
43,657
39,447
50,743
85,258
71,635
60,527
78,374
AUSTRALIA
69,059
71,638
58,720
70,345
89,157
89,294
74,505
89,225
Sunrise Dam
67,115
69,550
56,683
68,329
86,776
86,907
72,706
86,841
BRAZIL
62,192
55,775
44,052
59,097
83,305
71,110
56,398
77,423
AngloGold Ashanti Brasil Mineração
56,661
48,230
39,397
52,641
78,469
62,290
51,862
70,754
Serra Grande - Attributable 50%
59,638
54,131
42,580
56,893
78,631
73,030
54,514
75,839
GHANA
91,197
95,247
85,107
93,167
120,089
126,514
118,571
123,214
Bibiani
-
-
85,963
-
-
-
117,938
-
Iduapriem - Attributable 85%
66,628
106,413
84,886
82,004
84,760
122,137
110,484
99,206
Obuasi
102,805
92,224
85,122
97,267
136,780
127,711
122,025
132,031
GUINEA
113,624
96,653
83,876
104,585
137,738
122,100
109,149
129,409
Siguiri - Attributable 85%
113,624
96,653
83,876
104,585
137,738
122,100
109,149
129,409
MALI
75,848
73,848
48,372
74,819
86,817
88,643
63,691
87,757
Morila - Attributable 40%
93,093
83,011
51,803
87,617
110,034
100,339
66,241
104,768
Sadiola - Attributable 38%
91,710
100,845
52,888
96,118
99,421
108,523
69,219
103,813
Yatela - Attributable 40%
52,961
49,942
48,496
51,411
60,858
67,995
63,636
64,522
NAMIBIA
79,443
85,460
57,763
82,434
95,850
101,693
75,514
98,754
Navachab
79,443
85,460
57,763
82,434
95,850
101,693
75,514
98,754
TANZANIA
76,486
103,153
105,814
89,438
110,139
133,407
128,519
121,440
Geita
76,486
103,153
105,814
89,438
110,139
133,407
128,519
121,440
USA
59,984
58,297
52,062
59,174
81,778
81,519
76,599
81,654
Cripple Creek & Victor J.V.
56,679
56,156
49,987
56,428
78,462
79,372
74,525
78,899
ANGLOGOLD ASHANTI
75,724
76,991
63,276
76,406
99,734
99,905
85,168
99,872
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
Quarter
Quarter
Six months
Quarter
Quarter
Quarter
Six months
ended
ended
ended
ended
ended
ended
ended
ended
June
March
June
June
June
March
June
June
2007
2007
2006
2007
2007
2007
2006
2007
SOUTH AFRICA
1,164
1,180
1,520
2,344
741
800
1,145
1,541
Vaal River
Great Noligwa
Great Noligwa
245
218
367
462
158
140
295
298
Kopanang
217
212
265
429
161
157
222
318
Moab Khotsong
(9)
3
-
(5)
(44)
(32)
(29)
(75)
Tau Lekoa
37
54
54
91
(6)
10
16
4
Surface Operations
71
84
76
155
64
77
69
141
West Wits
Mponeng
Mponeng
378
353
423
731
293
280
324
573
Savuka
22
33
40
54
10
25
34
35
TauTona
204
223
294
427
105
143
213
248
ARGENTINA
143
154
168
296
97
105
123
202
Cerro Vanguardia-Attributable 92.50%
133
143
157
277
91
99
115
190
Minorities and exploration
10
11
11
19
6
6
8
12
AUSTRALIA
301
311
298
611
212
232
242
444
Sunrise Dam
301
311
298
611
212
232
242
444
BRAZIL
302
311
264
612
225
254
225
479
AngloGold Ashanti Brasil Mineração
187
178
156
364
138
149
134
287
Serra Grande - Attributable 50%
59
71
48
130
45
57
39
102
Minorities and exploration
56
62
60
118
42
48
52
90
GHANA
207
181
100
388
87
62
(43)
149
Bibiani
-
-
11
-
-
-
4
-
Iduapriem - Attributable 85%
89
32
30
121
65
19
-
83
Obuasi
103
141
48
245
10
38
(56)
48
Minorities and exploration
15
8
11
22
12
5
9
18
GUINEA
62
114
77
176
7
49
27
56
Siguiri - Attributable 85%
48
94
59
142
1
36
16
37
Minorities and exploration
14
20
18
34
6
13
11
19
MALI
180
231
336
411
147
183
268
330
Morila - Attributable 40%
47
77
121
124
30
55
97
85
Sadiola - Attributable 38%
49
50
117
99
41
43
91
84
Yatela - Attributable 40%
84
104
98
188
76
85
80
162
NAMIBIA
36
39
50
75
26
29
37
55
Navachab
36
39
50
75
26
29
37
55
TANZANIA
167
60
68
227
81
(13)
19
68
Geita
167
60
68
227
81
(13)
19
68
USA
164
164
64
327
111
107
(33)
218
Cripple Creek & Victor J.V.
164
164
64
327
111
107
(33)
218
OTHER
(26)
42
(8)
21
(46)
24
(22)
(22)
ANGLOGOLD ASHANTI
2,700
2,788
2,937
5,488
1,688
1,832
1,988
3,520
Rounding of figures may results in computational discrepancies.
SA Rand
Cash gross profit (loss) - Rm
1
Gross profit (loss) adjusted for the profit (loss) on unrealised
non-hedge derivatives and other commodity contracts - Rm
non-hedge derivatives and other commodity contracts - Rm
1
Gross profit (loss) adjusted for the profit (loss) on unrealised non-hedge derivatives and other commodity contracts plus amortisation of tangible and intangible assets, less non-cash revenues.
Key
operating results
PER REGION & OPERATION
Quarter
Quarter
Quarter
Six months
Quarter
Quarter
Quarter
Six months
ended
ended
ended
ended
ended
ended
ended
ended
June
March
June
June
June
March
June
June
2007
2007
2006
2007
2007
2007
2006
2007
Imperial
SOUTH AFRICA
581
567
648
1,148
Vaal River
Great Noligwa
Great Noligwa
0.224
0.245
0.236
0.234
125
124
153
249
Kopanang
0.189
0.197
0.210
0.193
101
96
114
198
Moab Khotsong
0.195
0.238
0.199
0.215
13
14
11
27
Tau Lekoa
0.093
0.108
0.105
0.100
39
43
41
82
Surface Operations
0.015
0.015
0.015
0.015
33
33
31
66
West Wits
Mponeng
Mponeng
0.282
0.279
0.303
0.280
154
143
156
296
Savuka
0.199
0.204
0.209
0.202
18
18
21
36
TauTona
2
0.274
0.291
0.283
0.282
99
96
120
195
ARGENTINA
50
52
64
102
Cerro Vanguardia-Attributable 92.50%
0.193
0.211
0.260
0.202
50
52
64
102
AUSTRALIA
149
148
113
297
Sunrise Dam
3
0.142
0.135
0.095
0.138
149
148
113
297
BRAZIL
97
90
81
187
AngloGold Ashanti Brasil Mineração
2
0.198
0.225
0.217
0.211
73
66
57
139
Serra Grande - Attributable 50%
0.210
0.213
0.219
0.211
24
24
24
48
GHANA
135
128
146
263
Bibiani
-
-
0.014
-
-
-
9
-
Iduapriem - Attributable 85%
0.052
0.055
0.052
0.053
43
27
41
71
Obuasi
2
0.121
0.141
0.126
0.131
92
101
97
192
GUINEA
64
73
59
137
Siguiri
3
- Attributable 85%
0.029
0.031
0.034
0.030
64
73
59
137
MALI
102
108
146
210
Morila - Attributable 40%
0.075
0.089
0.123
0.082
35
41
54
76
Sadiola - Attributable 38%
0.077
0.073
0.102
0.075
34
31
52
65
Yatela
4
- Attributable 40%
0.150
0.095
0.143
0.125
33
35
40
68
NAMIBIA
20
20
22
40
Navachab
0.045
0.043
0.057
0.044
20
20
22
40
TANZANIA
82
78
71
160
Geita
0.065
0.053
0.044
0.058
82
78
71
160
USA
69
64
65
133
Cripple Creek & Victor J.V.
4
0.015
0.016
0.016
0.015
69
64
65
133
ANGLOGOLD ASHANTI
1,349
1,326
1,415
2,675
Undergound operations
0.195
0.211
0.211
0.203
734
717
784
1,451
Surface and Dump Reclamation
0.015
0.015
0.015
0.015
54
54
53
108
Open-pit Operations
0.067
0.066
0.066
0.066
451
453
463
904
Heap leach Operations
1
0.024
0.021
0.023
0.023
110
102
115
212
1,349
1,326
1,415
2,675
4
Yatela and Cripple Creek & Victor Joint Venture operations yield
reflects gold placed/tonnes placed.
Rounding of figures may results in computational discrepancies.
3
The yield of Sunrise Dam and Siguiri represents open-pit operations.
Yield - oz/t
Gold produced - oz (000)
1
The yield is calculated on gold placed into leach pad inventory / tonnes placed on to leach pad.
2
The yield of TauTona, AngloGold Ashanti Brasil Mineração and Obuasi represents underground operations.
Key
operating results
PER REGION & OPERATION
Quarter
Quarter
Quarter
Six months
Quarter
Quarter
Quarter
Six months
ended
ended
ended
ended
ended
ended
ended
ended
June
March
June
June
June
March
June
June
2007
2007
2006
2007
2007
2007
2006
2007
Imperial
SOUTH AFRICA
7.36
7.32
8.47
7.34
573
564
627
1,137
Vaal River
Great Noligwa
Great Noligwa
6.11
6.20
7.77
6.16
123
124
148
248
Kopanang
6.68
6.40
7.30
6.54
100
97
111
197
Moab Khotsong
3.52
4.72
4.10
4.07
13
14
11
27
Tau Lekoa
4.77
5.19
4.88
4.98
39
42
40
81
Surface Operations
48.80
48.63
40.60
48.72
33
33
30
66
West Wits
Mponeng
Mponeng
10.17
9.64
11.21
9.91
151
141
151
292
Savuka
5.54
5.69
6.67
5.62
18
18
21
36
TauTona
7.86
7.65
9.91
7.75
97
95
115
192
ARGENTINA
25.13
26.34
36.82
25.73
49
52
68
101
Cerro Vanguardia - Attributable 92.50%
25.13
26.34
36.82
25.73
49
52
68
101
AUSTRALIA
127.25
128.19
85.06
127.72
136
145
112
281
Sunrise Dam
140.06
139.95
97.45
140.00
136
145
112
281
BRAZIL
19.28
18.74
19.16
19.01
93
97
82
190
AngloGold Ashanti Brasil Mineração
17.38
16.63
16.43
17.01
69
70
56
139
Serra Grande - Attributable 50%
28.87
29.05
31.23
28.96
24
27
26
52
GHANA
7.52
7.29
7.19
7.41
131
125
129
256
Bibiani
-
-
18.38
-
-
-
7
-
Iduapriem - Attributable 85%
19.73
12.58
19.64
16.18
42
27
36
69
Obuasi
5.82
6.55
5.44
6.18
89
98
86
187
GUINEA
15.23
18.33
14.37
16.74
63
73
59
136
Siguiri - Attributable 85%
15.23
18.33
14.37
16.74
63
73
59
136
MALI
27.54
29.39
46.83
28.46
101
119
134
220
Morila - Attributable 40%
22.97
27.49
40.84
25.22
34
43
49
77
Sadiola - Attributable 38%
23.96
21.98
48.50
22.96
35
38
50
73
Yatela - Attributable 40%
42.92
47.60
55.40
45.20
32
39
36
71
NAMIBIA
19.96
20.24
24.00
20.10
21
22
20
42
Navachab
19.96
20.24
24.00
20.10
21
22
20
42
TANZANIA
13.92
12.00
12.26
12.92
75
78
68
153
Geita
13.92
12.00
12.26
12.92
75
78
68
153
USA
80.72
55.60
66.53
66.33
65
61
65
126
Cripple Creek & Victor J.V.
80.72
55.60
66.53
66.33
65
61
65
126
ANGLOGOLD ASHANTI
10.89
10.84
11.58
10.86
1,307
1,336
1,364
2,643
Rounding of figures may results in computational discrepancies.
Productivity per employee - oz
Gold sold - oz (000)
Key
operating results
PER REGION & OPERATION
Quarter
Quarter
Quarter
Six months
Quarter
Quarter
Quarter
Six months
ended
ended
ended
ended
ended
ended
ended
ended
June
March
June
June
June
March
June
June
2007
2007
2006
2007
2007
2007
2006
2007
US Dollar / Imperial
SOUTH AFRICA
315
314
286
315
422
410
381
416
Vaal River
Great Noligwa
Great Noligwa
320
362
277
341
423
453
356
438
Kopanang
294
298
295
296
376
380
359
378
Moab Khotsong
695
577
666
632
1,094
923
1,084
1,004
Tau Lekoa
469
431
447
449
629
578
601
602
Surface Operations
298
252
267
275
328
280
303
305
West Wits
Mponeng
Mponeng
247
256
229
251
328
329
330
328
Savuka
431
355
359
393
528
417
401
471
TauTona
311
279
267
295
456
398
377
427
ARGENTINA
260
192
190
225
381
313
292
346
Cerro Vanguardia-Attributable 92.50%
256
188
188
222
376
309
289
342
AUSTRALIA
304
308
282
306
392
384
359
388
Sunrise Dam
295
299
273
297
382
374
350
378
BRAZIL
274
240
213
257
366
306
272
337
AngloGold Ashanti Brasil Mineração
249
207
190
229
345
268
249
308
Serra Grande - Attributable 50%
263
233
206
248
346
314
263
330
GHANA
401
410
407
405
528
545
568
536
Bibiani
-
-
412
-
-
-
569
-
Iduapriem - Attributable 85%
293
459
408
357
372
526
532
432
Obuasi
452
397
406
423
601
550
583
575
GUINEA
500
416
403
455
607
526
524
563
Siguiri - Attributable 85%
500
416
403
455
607
526
524
563
MALI
334
318
232
326
382
382
305
382
Morila - Attributable 40%
410
358
249
381
484
432
318
456
Sadiola - Attributable 38%
404
434
255
418
438
467
332
452
Yatela - Attributable 40%
232
216
232
224
267
294
305
281
NAMIBIA
349
368
279
358
421
438
364
429
Navachab
349
368
279
358
421
438
364
429
TANZANIA
337
447
507
390
485
577
617
530
Geita
337
447
507
390
485
577
617
530
USA
264
251
252
258
360
351
369
355
Cripple Creek & Victor J.V.
249
242
242
246
345
342
360
343
ANGLOGOLD ASHANTI
333
332
305
333
439
430
410
435
Rounding of figures may results in computational discrepancies.
Total cash costs - $/oz
Total production costs - $/oz
Key
operating results
PER REGION & OPERATION
Quarter
Quarter
Quarter
Six months
Quarter
Quarter
Quarter
Six months
ended
ended
ended
ended
ended
ended
ended
ended
June
March
June
June
June
March
June
June
2007
2007
2006
2007
2007
2007
2006
2007
SOUTH AFRICA
165
163
232
328
105
110
174
215
Vaal River
Great Noligwa
Great Noligwa
35
30
56
65
22
19
45
42
Kopanang
31
29
40
60
23
22
34
44
Moab Khotsong
(1)
-
-
(1)
(6)
(4)
(5)
(11)
Tau Lekoa
5
7
8
13
(1)
1
2
-
Surface Operations
10
12
12
22
9
11
11
20
West Wits
Mponeng
Mponeng
53
49
65
102
41
39
50
80
Savuka
3
5
6
8
1
3
5
5
TauTona 29
31
45
60
15
20
32
35
ARGENTINA
20
21
26
41
14
15
19
28
Cerro Vanguardia-Attributable 92.50%
19
20
24
39
13
14
18
26
Minorities and exploration
1
1
2
2
1
1
1
2
AUSTRALIA
42
43
46
85
30
32
37
62
Sunrise Dam
42
43
46
85
30
32
37
62
BRAZIL
43
43
41
86
32
35
35
67
AngloGold Ashanti Brasil Mineração
26
25
24
51
19
21
21
40
Serra Grande - Attributable 50%
8
10
8
18
6
8
6
14
Minorities and exploration
9
8
9
17
7
6
8
13
GHANA
29
25
15
54
12
9
(7)
21
Bibiani
-
-
2
-
-
-
1
-
Iduapriem - Attributable 85%
13
4
5
17
9
3
-
12
Obuasi
15
20
7
34
1
5
(9)
7
Minorities and exploration
1
1
1
3
2
1
1
2
GUINEA
9
16
12
25
1
7
4
8
Siguiri - Attributable 85%
7
13
9
20
-
5
2
5
Minorities and exploration
2
3
3
5
1
2
2
3
MALI
26
32
52
57
21
25
41
46
Morila - Attributable 40%
7
11
19
17
4
8
15
12
Sadiola - Attributable 38%
7
7
18
14
6
6
14
12
Yatela - Attributable 40%
12
14
15
26
11
12
12
23
NAMIBIA
5
5
8
11
4
4
6
8
Navachab
5
5
8
11
4
4
6
8
TANZANIA
24
8
10
32
11
(2)
3
9
Geita
24
8
10
32
11
(2)
3
9
USA
23
23
10
46
16
15
(5)
31
Cripple Creek & Victor J.V.
23
23
10
46
16
15
(5)
31
OTHER
(4)
6
(1)
3
(7)
3
(2)
(3)
ANGLOGOLD ASHANTI
382
385
452
767
239
253
305
492
Rounding of figures may results in computational discrepancies.
US Dollar
Cash gross profit (loss) - $m
1
Gross profit (loss) adjusted for the profit (loss) on unrealised
non-hedge derivatives and other commodity contracts - $m
1
Gross profit (loss) adjusted for the profit (loss) on unrealised non-hedge derivatives and other commodity contracts plus amortisation of tangible and intangible assets, less non-cash revenues.
South Africa
VAAL RIVER
Quarter
Quarter
Quarter
Six months
Quarter
Quarter
Quarter
Six months
ended
ended
ended
ended
ended
ended
ended
ended
June
March
June
June
June
March
June
June
2007
2007
2006
2007
2007
2007
2006
2007
GREAT NOLIGWA
OPERATING RESULTS
UNDERGROUND OPERATION
Area mined
OPERATING RESULTS
UNDERGROUND OPERATION
Area mined
- 000 m
2
/ - 000 ft
2
91
81
97
172
982
867
1,047
1,849
Milled
- 000 tonnes / - 000 tons
505
459
588
965
557
506
648
1,063
Yield
- g/t
/ - oz/t
7.67
8.41
8.11
8.02
0.224
0.245
0.236
0.234
Gold produced
- kg
/ - oz (000)
3,876
3,863
4,767
7,739
125
124
153
249
Gold sold
- kg
/ oz (000)
3,836
3,865
4,606
7,702
123
124
148
248
Price received
- R/kg
/ - $/oz
- sold
137,340
141,089
137,145
139,221
605
606
655
605
Total cash costs
- R
/ - $
- ton milled
558
707
464
629
72
89
66
80
- R/kg
/ - $/oz
- produced
72,747
84,059
57,253
78,393
320
362
277
341
Total production costs
- R/kg
/ - $/oz
- produced
96,266
105,277
73,661
100,764
423
453
356
438
PRODUCTIVITY PER EMPLOYEE
Target
Target
- g
/ - oz
228
226
283
227
7.32
7.26
9.11
7.29
Actual
- g
/ - oz
190
193
242
192
6.11
6.20
7.77
6.16
Target
- m
2
/ - ft
2
4.99
4.90
5.65
4.94
53.69
52.74
60.81
53.22
Actual
- m
2
/ - ft
2
4.47
4.02
4.93
4.25
48.15
43.30
53.10
45.75
FINANCIAL RESULTS (MILLION)
Gold income
Gold income
450
588
518
1,038
64
81
80
145
Cost of sales
369
406
336
775
52
56
52
108
Cash operating costs
281
324
270
604
40
45
42
84
Other cash costs
1
1
3
2
-
-
-
-
Total cash costs
282
325
273
607
40
45
42
85
Retrenchment costs
3
3
4
5
-
-
1
1
Rehabilitation and other non-cash costs
2
1
2
3
-
-
-
-
Production costs
287
329
279
615
41
45
43
86
Amortisation of tangible assets
87
78
72
165
12
11
11
23
Inventory change
(4)
(1)
(15)
(5)
(1)
-
(3)
(1)
81
182
182
263
12
25
28
37
Realised non-hedge derivatives
77
(42)
113
34
11
(6)
17
5
158
140
295
298
22
19
45
42
Capital expenditure
59
52
56
111
8
7
9
16
Rounding of figures may results in computational discrepancies.
Rand / Metric
Dollar / Imperial
Gross profit excluding the effect of unrealised non-hedge
derivatives and other commodity contracts
derivatives and other commodity contracts
South Africa
VAAL RIVER
Quarter
Quarter
Quarter
Six months
Quarter
Quarter
Quarter
Six months
ended
ended
ended
ended
ended
ended
ended
ended
June
March
June
June
June
March
June
June
2007
2007
2006
2007
2007
2007
2006
2007
KOPANANG
OPERATING RESULTS
UNDERGROUND OPERATION
Area mined
OPERATING RESULTS
UNDERGROUND OPERATION
Area mined
- 000 m
2
/ - 000 ft
2
115
114
119
229
1,235
1,229
1,281
2,464
Milled
- 000 tonnes / - 000 tons
487
442
495
929
537
487
546
1,024
Yield
- g/t
/ - oz/t
6.48
6.77
7.19
6.62
0.189
0.197
0.210
0.193
Gold produced
- kg
/ - oz (000)
3,156
2,989
3,561
6,145
101
96
114
198
Gold sold
- kg
/ oz (000)
3,106
3,007
3,452
6,113
100
97
111
197
Price received
- R/kg
/ - $/oz
- sold
137,249
139,978
137,101
138,591
604
602
654
603
Total cash costs
- R
/ - $
- ton milled
432
468
438
449
55
59
62
57
- R/kg
/ - $/oz
- produced
66,677
69,223
60,958
67,916
294
298
295
296
Total production costs
- R/kg
/ - $/oz
- produced
85,412
88,284
74,306
86,809
376
380
359
378
PRODUCTIVITY PER EMPLOYEE
Target
Target
- g
/ - oz
239
239
241
239
7.69
7.69
7.74
7.69
Actual
- g
/ - oz
208
199
227
203
6.68
6.40
7.30
6.54
Target
- m
2
/ - ft
2
7.70
7.69
7.79
7.69
82.83
82.76
83.83
82.80
Actual
- m
2
/ - ft
2
7.55
7.61
7.59
7.58
81.25
81.93
81.65
81.59
FINANCIAL RESULTS (MILLION)
Gold income
Gold income
366
454
388
820
52
63
60
115
Cost of sales
265
264
251
530
38
37
39
74
Cash operating costs
209
206
215
415
30
29
33
58
Other cash costs
1
1
2
2
-
-
-
-
Total cash costs
210
207
217
417
30
29
34
58
Retrenchment costs
2
1
3
3
-
-
-
-
Rehabilitation and other non-cash costs
2
1
2
3
-
-
-
-
Production costs
214
209
221
422
30
29
34
59
Amortisation of tangible assets
56
55
43
111
8
8
7
16
Inventory change
(4)
-
(13)
(4)
(1)
-
(2)
(1)
101
190
137
291
14
26
21
41
Realised non-hedge derivatives
60
(33)
85
27
9
(5)
13
4
161
157
222
318
23
22
34
44
Capital expenditure
84
81
52
165
12
11
8
23
Rounding of figures may results in computational discrepancies.
Rand / Metric
Dollar / Imperial
Gross profit excluding the effect of unrealised non-hedge
derivatives and other commodity contracts
derivatives and other commodity contracts
South Africa
VAAL RIVER
Quarter
Quarter
Quarter
Six months
Quarter
Quarter
Quarter
Six months
ended
ended
ended
ended
ended
ended
ended
ended
June
March
June
June
June
March
June
June
2007
2007
2006
2007
2007
2007
2006
2007
MOAB KHOTSONG
OPERATING RESULTS
UNDERGROUND OPERATION
Area mined
OPERATING RESULTS
UNDERGROUND OPERATION
Area mined
- 000 m
2
/ - 000 ft
2
7
7
7
14
76
71
79
147
Milled
- 000 tonnes / - 000 tons
59
54
50
113
65
59
55
124
Yield
- g/t
/ - oz/t
6.68
8.16
6.83
7.39
0.195
0.238
0.199
0.215
Gold produced
- kg
/ - oz (000)
392
439
338
832
13
14
11
27
Gold sold
- kg
/ - oz (000)
393
434
328
827
13
14
11
27
Price received
- R/kg
/ - $/oz
- sold
137,535
141,827
137,614
139,787
605
609
655
607
Total cash costs
- R
/ - $
- ton milled
1,055
1,095
940
1,074
135
137
133
136
- R/kg
/ - $/oz
- produced
157,986
134,175
137,630
145,412
695
577
666
632
Total production costs
- R/kg
/ - $/oz
- produced
248,698
214,596
224,472
230,688
1,094
923
1,084
1,004
PRODUCTIVITY PER EMPLOYEE
Target
Target
- g
/ - oz
124
104
120
114
3.98
3.35
3.87
3.68
Actual
- g
/ - oz
110
147
128
127
3.52
4.72
4.10
4.07
Target
- m
2
/ - ft
2
2.70
2.63
2.73
2.67
29.08
28.28
29.42
28.70
Actual
- m
2
/ - ft
2
1.97
2.21
2.78
2.08
21.20
23.81
29.94
22.39
FINANCIAL RESULTS (MILLION)
Gold income
Gold income
45
66
37
111
6
9
6
15
Cost of sales
98
93
74
191
14
13
11
27
Cash operating costs
62
59
46
120
9
8
7
17
Other cash costs
-
-
-
1
-
-
-
-
Total cash costs
62
59
47
121
9
8
7
17
Retrenchment costs
-
-
-
-
-
-
-
-
Rehabilitation and other non-cash costs
-
-
-
-
-
-
-
-
Production costs
63
59
47
122
9
8
7
17
Amortisation of tangible assets
35
35
29
70
5
5
4
10
Inventory change
-
(1)
(2)
(1)
-
-
-
-
(53)
(28)
(37)
(80)
(7)
(4)
(6)
(11)
Realised non-hedge derivatives
9
(4)
8
5
1
(1)
1
1
(44)
(32)
(29)
(75)
(6)
(4)
(5)
(11)
Capital expenditure
143
111
138
254
20
15
21
36
Rounding of figures may results in computational discrepancies.
Rand / Metric
Dollar / Imperial
Gross loss excluding the effect of unrealised non-hedge
derivatives and other commodity contracts
derivatives and other commodity contracts
South Africa
VAAL RIVER
Quarter
Quarter
Quarter
Six months
Quarter
Quarter
Quarter
Six months
ended
ended
ended
ended
ended
ended
ended
ended
June
March
June
June
June
March
June
June
2007
2007
2006
2007
2007
2007
2006
2007
TAU LEKOA
OPERATING RESULTS
UNDERGROUND OPERATION
Area mined
OPERATING RESULTS
UNDERGROUND OPERATION
Area mined
- 000 m
2
/ - 000 ft
2
70
69
65
139
753
742
697
1,495
Milled
- 000 tonnes / - 000 tons
384
358
357
742
423
394
394
818
Yield
- g/t
/ - oz/t
3.19
3.70
3.61
3.44
0.093
0.108
0.105
0.100
Gold produced
- kg
/ - oz (000)
1,223
1,325
1,289
2,548
39
43
41
82
Gold sold
- kg
/ oz (000)
1,215
1,315
1,253
2,531
39
42
40
81
Price received
- R/kg
/ - $/oz
- sold
137,671
141,315
136,170
139,565
606
607
653
606
Total cash costs
- R
/ - $
- ton milled
340
371
335
355
44
47
47
45
- R/kg
/ - $/oz
- produced
106,673
100,102
92,719
103,256
469
431
447
449
Total production costs
- R/kg
/ - $/oz
- produced
142,841
134,273
124,569
138,385
629
578
601
602
PRODUCTIVITY PER EMPLOYEE
Target
Target
- g
/ - oz
162
161
123
161
5.21
5.18
3.96
5.19
Actual
- g
/ - oz
148
161
152
155
4.77
5.19
4.88
4.98
Target
- m
2
/ - ft
2
8.73
8.66
5.54
8.69
93.98
93.19
59.65
93.58
Actual
- m
2
/ - ft
2
8.49
8.39
7.63
8.44
91.41
90.35
82.11
90.88
FINANCIAL RESULTS (MILLION)
Gold income
Gold income
141
199
140
340
20
28
22
47
Cost of sales
173
176
154
349
25
24
24
49
Cash operating costs
130
132
119
262
18
18
18
37
Other cash costs
1
-
1
1
-
-
-
-
Total cash costs
130
133
120
263
18
18
19
37
Retrenchment costs
1
1
2
2
-
-
-
-
Rehabilitation and other non-cash costs
-
-
1
-
-
-
-
-
Production costs
132
134
123
265
19
18
19
37
Amortisation of tangible assets
43
44
38
87
6
6
6
12
Inventory change
(1)
(2)
(6)
(3)
-
-
(1)
-
(32)
23
(14)
(9)
(5)
3
(2)
(1)
Realised non-hedge derivatives
27
(13)
30
13
4
(2)
5
2
(6)
10
16
4
(1)
1
2
-
Capital expenditure
23
20
13
43
3
3
2
6
Rounding of figures may results in computational discrepancies.
Rand / Metric
Dollar / Imperial
Gross (loss) profit excluding the effect of unrealised non-hedge
derivatives and other commodity contracts
derivatives and other commodity contracts
South Africa
VAAL RIVER
Quarter
Quarter
Quarter
Six months
Quarter
Quarter
Quarter
Six months
ended
ended
ended
ended
ended
ended
ended
ended
June
March
June
June
June
March
June
June
2007
2007
2006
2007
2007
2007
2006
2007
SURFACE OPERATIONS
OPERATING RESULTS
Milled
OPERATING RESULTS
Milled
- 000 tonnes / - 000 tons
1,969
2,045
1,952
4,014
2,170
2,254
2,151
4,424
Yield
- g/t
/ - oz/t
0.52
0.50
0.50
0.51
0.015
0.015
0.015
0.015
Gold produced
- kg
/ - oz (000)
1,030
1,023
970
2,053
33
33
31
66
Gold sold
- kg
/ - oz (000)
1,025
1,022
928
2,046
33
33
30
66
Price received
- R/kg
/ - $/oz
- sold
137,048
140,395
137,624
138,719
603
604
659
604
Total cash costs
- R
/ - $
- ton milled
35
29
27
32
5
4
4
4
- R/kg
/ - $/oz
- produced
67,662
58,471
55,290
63,082
298
252
267
275
Total production costs
- R/kg
/ - $/oz
- produced
74,591
65,161
62,634
69,892
328
280
303
305
PRODUCTIVITY PER EMPLOYEE
Target
Target
- g
/ - oz
1,324
1,285
1,166
1,304
42.55
41.31
37.49
41.93
Actual
- g
/ - oz
1,518
1,513
1,263
1,515
48.80
48.63
40.60
48.72
FINANCIAL RESULTS (MILLION)
Gold income
Gold income
117
153
105
270
17
21
16
38
Cost of sales
76
66
58
143
11
9
9
20
Cash operating costs
70
60
54
130
10
8
8
18
Other cash costs
-
-
-
-
-
-
-
-
Total cash costs
70
60
54
130
10
8
8
18
Retrenchment costs
-
-
-
-
-
-
-
-
Rehabilitation and other non-cash costs
-
-
-
-
-
-
-
-
Production costs
70
60
54
130
10
8
8
18
Amortisation of tangible assets
7
7
7
14
1
1
1
2
Inventory change
(1)
-
(2)
(1)
-
-
-
-
41
87
46
128
6
12
7
18
Realised non-hedge derivatives
24
(10)
23
14
3
(1)
3
2
64
77
69
141
9
11
11
20
Capital expenditure
2
1
22
3
-
-
3
-
Rounding of figures may results in computational discrepancies.
Rand / Metric
Dollar / Imperial
Gross profit excluding the effect of unrealised non-hedge
derivatives and other commodity contracts
derivatives and other commodity contracts
South Africa
WEST WITS
Quarter
Quarter
Quarter
Six months
Quarter
Quarter
Quarter
Six months
ended
ended
ended
ended
ended
ended
ended
ended
June
March
June
June
June
March
June
June
2007
2007
2006
2007
2007
2007
2006
2007
MPONENG
OPERATING RESULTS
UNDERGROUND OPERATION
Area mined
OPERATING RESULTS
UNDERGROUND OPERATION
Area mined
- 000 m
2
/ - 000 ft
2
93
87
92
180
1,002
937
993
1,939
Milled
- 000 tonnes / - 000 tons
495
464
468
959
546
511
515
1,057
Yield
- g/t
/ - oz/t
9.65
9.56
10.38
9.61
0.282
0.279
0.303
0.280
Gold produced
- kg
/ - oz (000)
4,778
4,435
4,853
9,212
154
143
156
296
Gold sold
- kg
/ - oz (000)
4,702
4,385
4,692
9,087
151
141
151
292
Price received
- R/kg
/ - $/oz
- sold
136,896
140,370
136,127
138,572
603
604
651
603
Total cash costs
- R
/ - $
- ton milled
541
567
490
554
69
71
69
70
- R/kg
/ - $/oz
- produced
56,082
59,318
47,250
57,640
247
256
229
251
Total production costs
- R/kg
/ - $/oz
- produced
74,592
76,284
68,188
75,406
328
329
330
328
PRODUCTIVITY PER EMPLOYEE
Target
Target
- g
/ - oz
268
266
294
267
8.61
8.57
9.46
8.59
Actual
- g
/ - oz
316
300
349
308
10.17
9.64
11.21
9.91
Target
- m
2
/ - ft
2
5.64
5.36
6.21
5.50
60.67
57.67
66.81
59.17
Actual
- m
2
/ - ft
2
6.17
5.89
6.62
6.03
66.37
63.39
71.30
64.89
FINANCIAL RESULTS (MILLION)
Gold income
Gold income
659
559
526
1,218
93
77
81
171
Cost of sales
351
335
315
686
50
46
49
96
Cash operating costs
266
262
227
528
38
36
35
74
Other cash costs
2
1
3
3
-
-
-
-
Total cash costs
268
263
229
531
38
36
36
74
Retrenchment costs
2
1
2
3
-
-
-
-
Rehabilitation costs
2
1
1
3
-
-
-
-
Production costs
271
265
232
537
38
37
36
75
Amortisation of tangible assets
85
73
99
158
12
10
15
22
Inventory change
(5)
(3)
(16)
(8)
(1)
(1)
(3)
(1)
308
224
212
532
44
31
33
75
Realised non-hedge derivatives
(15)
56
112
41
(2)
8
17
6
293
280
324
573
41
39
50
80
Capital expenditure
105
102
69
207
15
14
11
29
Rounding of figures may results in computational discrepancies.
Rand / Metric
Dollar / Imperial
Gross profit excluding the effect of unrealised non-hedge
derivatives and other commodity contracts
derivatives and other commodity contracts
South Africa
WEST WITS
Quarter
Quarter
Quarter
Six months
Quarter
Quarter
Quarter
Six months
ended
ended
ended
ended
ended
ended
ended
ended
June
March
June
June
June
March
June
June
2007
2007
2006
2007
2007
2007
2006
2007
SAVUKA
OPERATING RESULTS
UNDERGROUND OPERATION
Area mined
OPERATING RESULTS
UNDERGROUND OPERATION
Area mined
- 000 m
2
/ - 000 ft
2
17
16
19
33
178
175
210
353
Milled
- 000 tonnes / - 000 tons
81
81
91
163
89
90
100
179
Yield
- g/t
/ - oz/t
6.81
7.01
7.17
6.91
0.199
0.204
0.209
0.202
Gold produced
- kg
/ - oz (000)
552
571
653
1,123
18
18
21
36
Gold sold
- kg
/ - oz (000)
545
563
646
1,108
18
18
21
36
Price received
- R/kg
/ - $/oz
- sold
137,327
140,651
135,705
139,017
604
605
647
605
Total cash costs
- R
/ - $
- ton milled
667
579
530
623
86
73
75
79
- R/kg
/ - $/oz
- produced
97,989
82,550
73,967
90,141
431
355
359
393
Total production costs
- R/kg
/ - $/oz
- produced
119,954
96,912
83,203
108,242
528
417
401
471
PRODUCTIVITY PER EMPLOYEE
Target
Target
- g
/ - oz
176
187
-
181
5.65
6.01
-
5.83
Actual
- g
/ - oz
172
177
207
175
5.54
5.69
6.67
5.62
Target
- m
2
/ - ft
2
5.84
5.64
-
5.74
62.87
60.73
-
61.80
Actual
- m
2
/ - ft
2
5.17
5.04
6.19
5.10
55.60
54.21
66.60
54.90
FINANCIAL RESULTS (MILLION)
Gold income
Gold income
77
72
72
149
11
10
11
21
Cost of sales
65
54
53
119
9
8
8
17
Cash operating costs
54
47
48
101
8
6
7
14
Other cash costs
-
-
1
1
-
-
-
-
Total cash costs
54
47
48
101
8
7
8
14
Retrenchment costs
-
-
-
1
-
-
-
-
Rehabilitation and other non-cash costs
-
-
-
-
-
-
-
-
Production costs
54
47
49
102
8
7
8
14
Amortisation of tangible assets
12
8
6
20
2
1
1
3
Inventory change
(1)
(1)
(1)
(2)
-
-
-
-
12
18
19
29
2
2
3
4
Realised non-hedge derivatives
(2)
7
15
5
-
1
2
1
10
25
34
35
1
3
5
5
Capital expenditure
13
8
4
22
2
1
1
3
Rounding of figures may results in computational discrepancies.
Rand / Metric
Dollar / Imperial
Gross profit excluding the effect of unrealised non-hedge
derivatives and other commodity contracts
derivatives and other commodity contracts
South Africa
WEST WITS
Quarter
Quarter
Quarter
Six months
Quarter
Quarter
Quarter
Six months
ended
ended
ended
ended
ended
ended
ended
ended
June
March
June
June
June
March
June
June
2007
2007
2006
2007
2007
2007
2006
2007
TAUTONA
OPERATING RESULTS
UNDERGROUND OPERATION
Area mined
OPERATING RESULTS
UNDERGROUND OPERATION
Area mined
- 000 m
2
/ - 000 ft
2
53
51
58
103
565
548
622
1,113
Milled
- 000 tonnes / - 000 tons
321
291
374
612
354
321
413
675
Yield
- g/t
/ - oz/t
9.39
9.99
9.70
9.68
0.274
0.291
0.283
0.282
Gold produced
- kg
/ - oz (000)
3,017
2,906
3,632
5,923
97
93
117
190
SURFACE AND DUMP RECLAMATION
Treated
Treated
- 000 tonnes / - 000 tons
139
148
189
287
154
163
209
317
Yield
- g/t
/ - oz/t
0.41
0.50
0.46
0.46
0.012
0.015
0.013
0.013
Gold produced
- kg
/ - oz (000)
58
75
86
132
2
2
3
4
TOTAL
Yield
1
- g/t
/ - oz/t
9.39
9.99
9.70
9.68
0.274
0.291
0.283
0.282
Gold produced
- kg
/ - oz (000)
3,075
2,981
3,718
6,056
99
96
120
195
Gold sold
- kg
/ - oz (000)
3,012
2,946
3,584
5,959
97
95
115
192
Price received
- R/kg
/ - $/oz
- sold
137,746
140,762
137,247
139,237
606
605
653
606
Total cash costs
- R
/ - $
- ton milled
471
440
365
456
61
55
51
58
- R/kg
/ - $/oz
- produced
70,629
64,782
55,276
67,751
311
279
267
295
Total production costs
- R/kg
/ - $/oz
- produced
103,544
92,322
78,155
98,020
456
398
377
427
PRODUCTIVITY PER EMPLOYEE
Target
Target
- g
/ - oz
340
335
315
337
10.93
10.76
10.14
10.85
Actual
- g
/ - oz
244
238
308
241
7.86
7.65
9.91
7.75
Target
- m
2
/ - ft
2
5.65
5.34
5.47
5.50
60.82
57.45
58.88
59.15
Actual
- m
2
/ - ft
2
4.17
4.06
4.79
4.12
44.93
43.75
51.52
44.34
FINANCIAL RESULTS (MILLION)
Gold income
Gold income
425
377
404
802
60
52
62
112
Cost of sales
310
272
279
582
44
38
43
81
Cash operating costs
216
192
203
408
31
27
32
57
Other cash costs
1
1
2
2
-
-
-
-
Total cash costs
217
193
206
410
31
27
32
57
Retrenchment costs
1
1
3
3
-
-
-
-
Rehabilitation and other non-cash costs
1
1
1
2
-
-
-
-
Production costs
220
195
209
415
31
27
32
58
Amortisation of tangible assets
99
80
82
179
14
11
13
25
Inventory change
(8)
(4)
(11)
(12)
(1)
(1)
(2)
(2)
115
105
125
220
16
14
19
31
Realised non-hedge derivatives
(10)
38
88
28
(1)
5
13
4
105
143
213
248
15
20
32
35
Capital expenditure
111
98
118
209
16
14
18
29
1
Total yield excludes the surface and dump reclamation.
Rounding of figures may results in computational discrepancies.
Rand / Metric
Dollar / Imperial
Gross profit excluding the effect of unrealised non-hedge
derivatives and other commodity contracts
derivatives and other commodity contracts
Argentina
Quarter
Quarter
Quarter
Six months
Quarter
Quarter
Quarter
Six months
ended
ended
ended
ended
ended
ended
ended
ended
June
March
June
June
June
March
June
June
2007
2007
2006
2007
2007
2007
2006
2007
CERRO VANGUARDIA - Atrributable 92.50%
OPERATING RESULTS
OPEN-PIT OPERATION
Mined
OPERATING RESULTS
OPEN-PIT OPERATION
Mined
- 000 tonnes / - 000 tons
5,236
5,372
4,096
10,608
5,772
5,922
4,515
11,693
Treated
- 000 tonnes / - 000 tons
237
221
225
459
262
244
248
506
Stripping ratio
- t (mined total-mined ore) / t mined ore
22.76
19.91
17.05
21.22
22.76
19.91
17.05
21.22
Yield
- g/t
/ - oz/t
6.61
7.25
8.92
6.92
0.193
0.211
0.260
0.202
Gold in ore
- kg
/ - oz (000)
1,642
1,688
1,712
3,330
53
54
55
107
Gold produced
- kg
/ - oz (000)
1,569
1,603
2,004
3,172
50
52
64
102
Gold sold
- kg
/ - oz (000)
1,533
1,605
2,122
3,138
49
52
68
101
Price received
- R/kg
/ - $/oz
- sold
138,162
140,084
107,649
139,145
607
603
515
605
Total cash costs
- R/kg
/ - $/oz
- produced
57,982
43,657
39,447
50,743
256
188
188
222
Total production costs
- R/kg
/ - $/oz
- produced
85,258
71,635
60,527
78,374
376
309
289
342
PRODUCTIVITY PER EMPLOYEE
Target
Target
- g
/ - oz
763
787
1,263
775
24.52
25.30
40.59
24.91
Actual
- g
/ - oz
782
819
1,145
800
25.13
26.34
36.82
25.73
FINANCIAL RESULTS (MILLION)
Gold income
Gold income
233
246
255
479
33
34
39
67
Cost of sales
127
132
128
259
18
18
20
36
Cash operating costs
71
48
56
119
10
7
9
17
Other cash costs
20
22
23
41
3
3
4
6
Total cash costs
91
70
79
161
13
10
12
23
Rehabilitation and other non-cash costs
-
-
1
1
-
-
-
-
Production costs
91
70
80
162
13
10
12
23
Amortisation of tangible assets
42
44
42
87
6
6
6
12
Inventory change
(7)
18
7
11
(1)
2
1
1
107
113
127
220
15
16
20
31
Realised non-hedge derivatives
(16)
(14)
(12)
(30)
(2)
(2)
(2)
(4)
91
99
115
190
13
14
18
26
Capital expenditure
28
22
11
51
4
3
2
7
Rounding of figures may results in computational discrepancies.
Rand / Metric
Dollar / Imperial
Gross profit excluding the effect of unrealised non-hedge
derivatives and other commodity contracts
derivatives and other commodity contracts
Australia
Quarter
Quarter
Quarter
Six months
Quarter
Quarter
Quarter
Six months
ended
ended
ended
ended
ended
ended
ended
ended
June
March
June
June
June
March
June
June
2007
2007
2006
2007
2007
2007
2006
2007
SUNRISE DAM
OPERATING RESULTS
UNDERGROUND OPERATION
Mined
OPERATING RESULTS
UNDERGROUND OPERATION
Mined
- 000 tonnes
/ - ooo tons
86
92
83
178
95
102
92
197
Treated
- 000 tonnes
/ - 000 tons
130
59
64
188
143
65
70
208
Yield
- g/t
/ - oz/t
6.23
9.03
7.82
7.10
0.182
0.263
0.228
0.207
Gold produced
- kg
/ - oz (000)
808
529
498
1,337
26
17
16
43
OPEN-PIT OPERATION
Volume mined
Volume mined
- 000 bcm
/ - 000 bcy
1,511
1,571
2,786
3,082
1,976
2,055
3,644
4,031
Treated
- 000 tonnes
/ - 000 tons
787
881
922
1,668
868
971
1,016
1,839
Stripping ratio
- t (mined total-mined ore) / t mined ore
1.36
2.72
4.40
1.90
1.36
2.72
4.40
1.90
Yield
- g/t
/ - oz/t
4.86
4.63
3.27
4.73
0.142
0.135
0.095
0.138
Gold produced
- kg
/ - oz (000)
3,823
4,076
3,018
7,899
123
131
97
254
TOTAL
Yield
1
- g/t
/ - oz/t
4.86
4.63
3.27
4.73
0.142
0.135
0.095
0.138
Gold produced
- kg
/ - oz (000)
4,631
4,605
3,516
9,236
149
148
113
297
Gold sold
- kg
/ - oz (000)
4,227
4,522
3,496
8,749
136
145
112
281
Price received
- R/kg
/ - $/oz
- sold
138,673
140,853
135,953
139,800
609
605
651
607
Total cash costs
- R/kg
/ - $/oz
- produced
67,115
69,550
56,683
68,329
295
299
273
297
Total production costs
- R/kg
/ - $/oz
- produced
86,776
86,907
72,706
86,841
382
374
350
378
PRODUCTIVITY PER EMPLOYEE
Target
Target
- g
/ - oz
4,654
4,563
2,691
4,608
149.63
146.70
86.52
148.15
Actual
- g
/ - oz
4,356
4,353
3,031
4,355
140.06
139.95
97.45
140.00
FINANCIAL RESULTS (MILLION)
Gold income
Gold income
483
559
465
1,042
68
77
72
146
Cost of sales
374
405
233
779
53
56
36
109
Cash operating costs
295
303
187
598
42
42
29
84
Other cash costs
16
17
12
33
2
2
2
5
Total cash costs
311
320
199
631
44
44
31
88
Rehabilitation and other non-cash costs
2
1
1
4
-
-
-
1
Production costs
313
322
200
635
44
45
31
89
Amortisation of tangible assets
89
78
56
167
13
11
9
23
Inventory change
(28)
5
(22)
(23)
(4)
1
(4)
(3)
109
154
232
263
15
21
36
37
Realised non-hedge derivatives
103
78
10
181
14
11
2
25
212
232
242
444
30
32
37
62
Capital expenditure
45
41
41
86
6
6
6
12
1
Total yield excludes the underground operations.
Rounding of figures may results in computational discrepancies.
Rand / Metric
Dollar / Imperial
Gross profit excluding the effect of unrealised non-hedge
derivatives and other commodity contracts
derivatives and other commodity contracts
Brazil
Quarter
Quarter
Quarter
Six months
Quarter
Quarter
Quarter
Six months
ended
ended
ended
ended
ended
ended
ended
ended
June
March
June
June
June
March
June
June
2007
2007
2006
2007
2007
2007
2006
2007
ANGLOGOLD ASHANTI BRASIL MINERAÇÃO
OPERATING RESULTS
UNDERGROUND OPERATION
Mined
OPERATING RESULTS
UNDERGROUND OPERATION
Mined
- 000 tonnes / - 000 tons
294
235
212
530
324
259
234
584
Treated
- 000 tonnes / - 000 tons
296
255
211
552
327
282
233
608
Yield
- g/t
/ - oz/t
6.80
7.71
7.45
7.22
0.198
0.225
0.217
0.211
Gold produced
- kg
/ - oz (000)
2,014
1,970
1,573
3,984
65
63
51
128
HEAP LEACH OPERATION
Mined
Mined
- 000 tonnes / - 000 tons
1,387
993
1,145
2,380
1,529
1,095
1,262
2,623
Placed
1
- 000 tonnes / - 000 tons
56
30
60
86
61
33
66
95
Stripping ratio
- t (mined total-mined ore) / t mined ore
23.63
31.94
18.36
26.53
23.63
31.94
18.36
26.53
Yield
2
- g/t
/ - oz/t
5.15
3.13
3.45
4.44
0.150
0.091
0.101
0.129
Gold placed
3
- kg
/ - oz (000)
287
95
206
382
9
3
7
12
Gold produced
- kg
/ - oz (000)
250
94
193
344
8
3
6
11
TOTAL
Yield
4
- g/t
/ - oz/t
6.80
7.71
7.45
7.22
0.198
0.225
0.217
0.211
Gold produced
- kg
/ - oz (000)
2,264
2,064
1,766
4,328
73
66
57
139
Gold sold
- kg
/ - oz (000)
2,146
2,171
1,750
4,317
69
70
56
139
Price received
- R/kg
/ - $/oz
- sold
139,515
140,002
130,140
139,760
612
602
621
607
Total cash costs
- R/kg
/ - $/oz
- produced
56,661
48,230
39,397
52,641
249
207
190
229
Total production costs
- R/kg
/ - $/oz
- produced
78,469
62,290
51,862
70,754
345
268
249
308
PRODUCTIVITY PER EMPLOYEE
Target
Target
- g
/ - oz
562
422
534
492
18.06
13.56
17.17
15.81
Actual
- g
/ - oz
541
517
511
529
17.38
16.63
16.43
17.01
FINANCIAL RESULTS (MILLION)
Gold income
Gold income
264
259
196
523
37
36
30
73
Cost of sales
162
155
93
317
23
21
14
44
Cash operating costs
125
96
67
221
18
13
10
31
Other cash costs
3
3
2
7
-
-
-
1
Total cash costs
128
100
70
228
18
14
11
32
Rehabilitation and other non-cash costs
-
-
1
1
-
-
-
-
Production costs
129
100
70
229
18
14
11
32
Amortisation of tangible assets
49
29
21
78
7
4
3
11
Inventory change
(16)
26
2
10
(2)
4
-
1
102
104
103
207
14
14
16
29
Realised non-hedge derivatives
36
45
32
80
5
6
5
11
138
149
134
287
19
21
21
40
Capital expenditure
217
234
277
451
31
32
43
63
1
Tonnes / Tons placed onto leach pad
4
Total yield represents underground operations
2
Gold placed / tonnes (tons) placed
3
Gold placed into leach pad inventory
Rounding of figures may results in computational discrepancies.
Rand / Metric
Dollar / Imperial
Gross profit excluding the effect of unrealised non-hedge
derivatives and other commodity contracts
derivatives and other commodity contracts
Brazil
Quarter
Quarter
Quarter
Six months
Quarter
Quarter
Quarter
Six months
ended
ended
ended
ended
ended
ended
ended
ended
June
March
June
June
June
March
June
June
2007
2007
2006
2007
2007
2007
2006
2007
SERRA GRANDE - Attributable 50%
OPERATING RESULTS
UNDERGROUND OPERATION
Mined
OPERATING RESULTS
UNDERGROUND OPERATION
Mined
- 000 tonnes / - 000 tons
175
184
195
359
96
102
108
198
Treated
- 000 tonnes / - 000 tons
103
101
101
204
114
111
112
225
Yield
- g/t
/ - oz/t
7.19
7.31
7.50
7.25
0.210
0.213
0.219
0.211
Gold produced
- kg
/ - oz (000)
742
738
760
1,480
24
24
24
48
Gold sold
- kg
/ - oz (000)
752
855
801
1,606
24
27
26
52
Price received
- R/kg
/ - $/oz
- sold
137,649
139,874
102,711
138,833
606
601
499
603
Total cash costs
- R/kg
/ - $/oz
- produced
59,638
54,131
42,580
56,893
263
233
206
248
Total production costs
- R/kg
/ - $/oz
- produced
78,631
73,030
54,514
75,839
346
314
263
330
PRODUCTIVITY PER EMPLOYEE
Target
Target
- g
/ - oz
891
890
975
891
28.64
28.63
31.33
28.63
Actual
- g
/ - oz
898
904
971
901
28.87
29.05
31.23
28.96
FINANCIAL RESULTS (MILLION)
Gold income
Gold income
93
105
68
198
13
14
11
28
Cost of sales
58
63
43
121
8
9
7
17
Cash operating costs
41
37
30
79
6
5
5
11
Other cash costs
3
3
2
6
-
-
-
1
Total cash costs
44
40
32
84
6
6
5
12
Rehabilitation and other non-cash costs
-
-
-
-
-
-
-
-
Production costs
44
40
32
84
6
6
5
12
Amortisation of tangible assets
14
14
9
28
2
2
1
4
Inventory change
-
9
1
8
-
1
-
1
35
42
25
77
5
6
4
11
Realised non-hedge derivatives
11
15
15
25
2
2
2
4
45
57
39
102
6
8
6
14
Capital expenditure
24
14
15
38
3
2
2
5
Rounding of figures may results in computational discrepancies.
Rand / Metric
Dollar / Imperial
Gross profit excluding the effect of unrealised non-hedge
derivatives and other commodity contracts
derivatives and other commodity contracts
Ghana
Quarter
Quarter
Quarter
Six months
Quarter
Quarter
Quarter
Six months
ended
ended
ended
ended
ended
ended
ended
ended
June
March
June
June
June
March
June
June
2007
2007
2006
2007
2007
2007
2006
2007
IDUAPRIEM - Attributable 85%
OPERATING RESULTS
OPEN-PIT OPERATION
Mined
OPERATING RESULTS
OPEN-PIT OPERATION
Mined
- 000 tonnes
/ - 000 tons
5,232
5,123
4,625
10,355
5,768
5,647
5,098
11,414
Treated
- 000 tonnes
/ - 000 tons
758
453
713
1,211
836
499
786
1,335
Stripping ratio
- t (mined total-mined ore) / t mined ore
7.95
6.60
4.68
7.23
7.95
6.60
4.68
7.23
Yield
- g/t
/ - oz/t
1.78
1.87
1.77
1.81
0.052
0.055
0.052
0.053
Gold in ore
- kg
/ - oz (000)
1,548
1,327
1,262
2,876
50
43
41
92
Gold produced
- kg
/ - oz (000)
1,347
848
1,265
2,195
43
27
41
71
Gold sold
- kg
/ - oz (000)
1,308
848
1,130
2,156
42
27
36
69
Price received
- R/kg
/ - $/oz
- sold
137,005
137,840
103,921
137,334
603
594
500
600
Total cash costs
- R/kg
/ - $/oz
- produced
66,628
106,413
84,886
82,004
293
459
408
357
Total produced costs
- R/kg
/ - $/oz
- produced
84,760
122,137
110,484
99,206
372
526
532
432
PRODUCTIVITY PER EMPLOYEE
Target
Target
- g
/ - oz
637
592
681
615
20.49
19.04
21.88
19.76
Actual
- g
/ - oz
614
391
611
503
19.73
12.58
19.64
16.18
FINANCIAL RESULTS (MILLION)
Gold income
Gold income
170
114
103
284
24
16
16
40
Cost of sales
115
98
117
213
16
14
18
30
Cash operating costs
82
86
101
168
12
12
16
23
Other cash costs
7
5
6
12
1
1
1
2
Total cash costs
90
90
107
180
13
13
17
25
Rehabilitation and other non-cash costs
-
-
1
-
-
-
-
-
Production costs
90
90
109
180
13
13
17
25
Amortisation of tangible assets
24
13
31
38
3
2
5
5
Inventory change
-
(5)
(23)
(5)
-
(1)
(3)
(1)
55
16
(14)
71
8
2
(2)
10
Realised non-hedge derivatives
9
3
14
12
1
-
2
2
65
19
-
83
9
3
-
12
Capital expenditure
28
8
3
36
4
1
-
5
Rounding of figures may results in computational discrepancies.
Rand / Metric
Dollar / Imperial
Gross profit excluding the effect of unrealised non-hedge
derivatives and other commodity contracts
derivatives and other commodity contracts
Ghana
Quarter
Quarter
Quarter
Six months
Quarter
Quarter
Quarter
Six months
ended
ended
ended
ended
ended
ended
ended
ended
June
March
June
June
June
March
June
June
2007
2007
2006
2007
2007
2007
2006
2007
OBUASI
OPERATING RESULTS
UNDERGROUND OPERATION
Mined
OPERATING RESULTS
UNDERGROUND OPERATION
Mined
- 000 tonnes
/ - 000 tons
456
480
607
936
503
529
669
1,032
Treated
- 000 tonnes
/ - 000 tons
543
524
567
1,067
598
578
625
1,176
Yield
- g/t
/ - oz/t
4.16
4.83
4.33
4.49
0.121
0.141
0.126
0.131
Gold produced
- kg
/ - oz (000)
2,259
2,531
2,456
4,789
73
81
79
154
SURFACE AND DUMP RECLAMATION
Treated
Treated
- 000 tonnes
/ - 000 tons
1,083
1,082
619
2,165
1,194
1,193
683
2,387
Yield
- g/t
/ - oz/t
0.55
0.55
0.54
0.55
0.016
0.016
0.016
0.016
Gold produced
- kg
/ - oz (000)
592
596
333
1,188
19
19
11
38
OPEN-PIT OPERATION
Mined
Mined
- 000 tonnes
/ - 000 tons
-
-
352
-
-
-
388
-
Treated
- 000 tonnes
/ - 000 tons
-
-
352
-
-
-
388
-
Stripping ratio
- t (mined total-mined ore) / t mined ore
-
-
-
-
-
-
-
-
Yield
- g/t
/ - oz/t
-
-
0.64
-
-
-
0.019
-
Gold in ore
- kg
/ - oz (000)
-
-
286
-
-
-
9
-
Gold produced
- kg
/ - oz (000)
-
-
225
-
-
-
7
-
TOTAL
Yield
1
- g/t
/ - oz/t
4.16
4.83
4.33
4.49
0.121
0.141
0.126
0.131
Gold produced
- kg
/ - oz (000)
2,851
3,127
3,013
5,978
92
101
97
192
Gold sold
- kg
/ - oz (000)
2,781
3,038
2,673
5,819
89
98
86
187
Price received
- R/kg
/ - $/oz
- sold
137,330
138,361
101,141
137,868
605
597
480
600
Total cash costs
- R/kg
/ - $/oz
- produced
102,805
92,224
85,122
97,267
452
397
406
423
Total production costs
- R/kg
/ - $/oz
- produced
136,780
127,711
122,025
132,031
601
550
583
575
PRODUCTIVITY PER EMPLOYEE
Target
Target
- g
/ - oz
334
326
223
330
10.75
10.49
7.15
10.62
Actual
- g
/ - oz
181
204
169
192
5.82
6.55
5.44
6.18
FINANCIAL RESULTS (MILLION)
Gold income
Gold income
362
414
232
776
51
57
36
109
Cost of sales
372
382
326
755
53
53
50
106
Cash operating costs
278
271
243
549
39
38
37
77
Other cash costs
16
17
13
33
2
2
2
5
Total cash costs
293
288
256
581
41
40
39
81
Retrenchment costs
-
-
-
-
-
-
-
-
Rehabilitation and other non-cash costs
4
7
4
11
1
1
-
2
Production costs
297
296
260
592
42
41
40
83
Amortisation of tangible assets
93
104
108
197
13
14
17
28
Inventory change
(18)
(17)
(41)
(35)
(2)
(2)
(6)
(5)
(10)
31
(94)
21
(1)
4
(15)
3
Realised non-hedge derivatives
20
7
38
26
3
1
6
4
10
38
(56)
48
1
5
(9)
7
Capital expenditure
198
182
156
380
28
25
24
53
1
Total yield represents underground operations.
Rounding of figures may results in computational discrepancies.
Rand / Metric
Dollar / Imperial
Gross profit (loss) excluding the effect of unrealised non-hedge
derivatives and other commodity contracts
derivatives and other commodity contracts
Guinea
Quarter
Quarter
Quarter
Six months
Quarter
Quarter
Quarter
Six months
ended
ended
ended
ended
ended
ended
ended
ended
June
March
June
June
June
March
June
June
2007
2007
2006
2007
2007
2007
2006
2007
SIGUIRI - Attributable 85%
OPERATING RESULTS
OPEN-PIT OPERATION
Mined
OPERATING RESULTS
OPEN-PIT OPERATION
Mined
- 000 tonnes
/ - 000 tons
4,973
4,288
5,062
9,261
5,481
4,727
5,580
10,208
Treated
- 000 tonnes
/ - 000 tons
1,981
2,136
1,481
4,117
2,184
2,355
1,633
4,538
Stripping ratio
- t (mined total-mined ore) / t mined ore
0.66
1.07
1.32
0.83
0.66
1.07
1.32
0.83
Yield
- g/t
/ - oz/t
1.01
1.06
1.16
1.04
0.029
0.031
0.034
0.030
Gold produced
- kg
/ - oz (000)
1,992
2,270
1,725
4,262
64
73
55
137
HEAP LEACH OPERATION
Gold produced
Gold produced
- kg
/ - oz (000)
-
-
101
-
-
-
3
-
TOTAL
Yield
1
- g/t
/ - oz/t
1.01
1.06
1.16
1.04
0.029
0.031
0.034
0.030
Gold produced
- kg
/ - oz (000)
1,992
2,270
1,826
4,262
64
73
59
137
Gold sold
- kg
/ - oz (000)
1,944
2,280
1,826
4,225
63
73
59
136
Price received
- R/kg
/ - $/oz
- sold
136,493
141,433
109,887
139,159
601
607
519
604
Total cash costs
- R/kg
/ - $/oz
- produced
113,624
96,653
83,876
104,585
500
416
403
455
Total production costs
- R/kg
/ - $/oz
- produced
137,738
122,100
109,149
129,409
607
526
524
563
PRODUCTIVITY PER EMPLOYEE
Target
Target
- g
/ - oz
299
280
469
289
9.61
9.00
15.09
9.30
Actual
- g
/ - oz
474
570
447
521
15.23
18.33
14.37
16.74
FINANCIAL RESULTS (MILLION)
Gold income
Gold income
252
318
181
570
36
44
28
80
Cost of sales
265
286
184
551
38
40
28
77
Cash operating costs
189
172
129
362
27
24
20
51
Other cash costs
37
47
24
84
5
7
4
12
Total cash costs
226
219
153
446
32
30
24
62
Rehabilitation and other non-cash costs
-
-
1
1
-
-
-
-
Production costs
227
220
155
446
32
30
24
62
Amortisation of tangible assets
48
57
45
105
7
8
7
15
Inventory change
(10)
9
(15)
-
(1)
1
(3)
-
(13)
32
(3)
19
(2)
4
(1)
3
Realised non-hedge derivatives
13
4
19
17
2
1
3
2
1
36
16
37
-
5
2
5
Capital expenditure
32
12
24
44
5
2
4
6
1
Total yield excludes the heap leach operation.
Rounding of figures may result in computational discrepancies.
Rand / Metric
Dollar / Imperial
Gross profit excluding the effect of unrealised non-hedge
derivatives and other commodity contracts
derivatives and other commodity contracts
Mali
Quarter
Quarter
Quarter
Six months
Quarter
Quarter
Quarter
Six months
ended
ended
ended
ended
ended
ended
ended
ended
June
March
June
June
June
March
June
June
2007
2007
2006
2007
2007
2007
2006
2007
MORILA - Attributable 40%
OPERATING RESULTS
OPEN-PIT OPERATION
Volume mined
OPERATING RESULTS
OPEN-PIT OPERATION
Volume mined
- 000 bcm
/ - 000 bcy
827
730
900
1,557
1,082
955
1,178
2,037
Mined
- 000 tonnes
/ - 000 tons
2,152
2,006
2,402
4,158
2,372
2,211
2,648
4,583
Treated
- 000 tonnes
/ - 000 tons
421
422
399
843
464
465
440
929
Stripping ratio
- t (mined total-mined ore) / t mined ore
5.80
4.36
2.78
5.02
5.80
4.36
2.78
5.02
Yield
- g/t
/ - oz/t
2.57
3.04
4.22
2.81
0.075
0.089
0.123
0.082
Gold produced
- kg
/ - oz (000)
1,080
1,284
1,684
2,365
35
41
54
76
Gold sold
- kg
/ - oz (000)
1,057
1,333
1,520
2,390
34
43
49
77
Price received
- R/kg
/ - $/oz
- sold
135,966
139,606
130,435
137,996
600
601
632
600
Total cash costs
- R/kg
/ - $/oz
- produced
93,093
83,011
51,803
87,617
410
358
249
381
Total production costs
- R/kg
/ - $/oz
- produced
110,034
100,339
66,241
104,768
484
432
318
456
PRODUCTIVITY PER EMPLOYEE
Target
Target
- g
/ - oz
975
1,109
2,464
1,042
31.34
35.66
79.22
33.50
Actual
- g
/ - oz
714
855
1,270
785
22.97
27.49
40.84
25.22
FINANCIAL RESULTS (MILLION)
Gold income
Gold income
144
186
198
330
20
26
31
46
Cost of sales
114
131
101
245
16
18
16
34
Cash operating costs
89
91
73
180
13
13
11
25
Other cash costs
12
15
14
27
2
2
2
4
Total cash costs
101
107
87
207
14
15
13
29
Rehabilitation and other non-cash costs
1
1
1
1
-
-
-
-
Production costs
101
107
88
208
14
15
14
29
Amortisation of tangible assets
18
22
24
39
3
3
4
6
Inventory change
(5)
2
(10)
(2)
(1)
-
(2)
-
30
55
97
85
4
8
15
12
Realised non-hedge derivatives
-
-
-
-
-
-
-
-
30
55
97
85
4
8
15
12
Capital expenditure
1
1
1
2
-
-
-
-
Rounding of figures may result in computational discrepancies.
Rand / Metric
Dollar / Imperial
Gross profit excluding the effect of unrealised non-hedge
derivatives and other commodity contracts
derivatives and other commodity contracts
Mali
Quarter
Quarter
Quarter
Six months
Quarter
Quarter
Quarter
Six months
ended
ended
ended
ended
ended
ended
ended
ended
June
March
June
June
June
March
June
June
2007
2007
2006
2007
2007
2007
2006
2007
SADIOLA - Attributable 38%
OPERATING RESULTS
OPEN-PIT OPERATION
Volume mined
OPERATING RESULTS
OPEN-PIT OPERATION
Volume mined
- 000 bcm
/ - 000 bcy
1,495
1,455
1,112
2,949
1,955
1,903
1,455
3,858
Mined
- 000 tonnes
/ - 000 tons
2,845
2,887
2,240
5,732
3,136
3,182
2,469
6,319
Treated
- 000 tonnes
/ - 000 tons
398
391
459
789
439
431
506
870
Stripping ratio
- t (mined total-mined ore) / t mined ore
2.94
4.61
3.45
3.64
2.94
4.61
3.45
3.64
Yield
- g/t
/ - oz/t
2.63
2.50
3.50
2.56
0.077
0.073
0.102
0.075
Gold produced
- kg
/ - oz (000)
1,048
977
1,607
2,025
34
31
52
65
Gold sold
- kg
/ - oz (000)
1,086
1,180
1,542
2,266
35
38
50
73
Price received
- R/kg
/ - $/oz
- sold
136,269
139,019
129,893
137,701
601
599
628
600
Total cash costs
- R/kg
/ - $/oz
- produced
91,710
100,845
52,888
96,118
404
434
255
418
Total production costs
- R/kg
/ - $/oz
- produced
99,421
108,523
69,219
103,813
438
467
332
452
PRODUCTIVITY PER EMPLOYEE
Target
Target
- g
/ - oz
1,164
1,187
1,956
1,175
37.42
38.15
62.90
37.79
Actual
- g
/ - oz
745
684
1,508
714
23.96
21.98
48.50
22.96
FINANCIAL RESULTS (MILLION)
Gold income
Gold income
148
164
200
312
21
23
31
44
Cost of sales
107
121
109
228
15
17
17
32
Cash operating costs
85
86
71
171
12
12
11
24
Other cash costs
12
12
14
24
2
2
2
3
Total cash costs
96
99
85
195
14
14
13
27
Rehabilitation and other non-cash costs
-
-
-
1
-
-
-
-
Production costs
96
99
85
195
14
14
13
27
Amortisation of tangible assets
8
7
26
15
1
1
4
2
Inventory change
3
15
(2)
18
-
2
-
3
41
43
91
84
6
6
14
12
Realised non-hedge derivatives
-
-
-
-
-
-
-
-
41
43
91
84
6
6
14
12
Capital expenditure
6
6
7
12
1
1
1
2
Rounding of figures may result in computational discrepancies.
Rand / Metric
Dollar / Imperial
Gross profit excluding the effect of unrealised non-hedge
derivatives and other commodity contracts
derivatives and other commodity contracts
Mali
Quarter
Quarter
Quarter
Six months
Quarter
Quarter
Quarter
Six months
ended
ended
ended
ended
ended
ended
ended
ended
June
March
June
June
June
March
June
June
2007
2007
2006
2007
2007
2007
2006
2007
YATELA - Attributable 40%
OPERATING RESULTS
HEAP LEACH OPERATION
Mined
OPERATING RESULTS
HEAP LEACH OPERATION
Mined
- 000 tonnes
/ - 000 tons
1,703
1,690
1,293
3,393
1,877
1,863
1,426
3,740
Placed
1
- 000 tonnes
/ - 000 tons
337
287
325
623
371
316
358
687
Stripping ratio
- t (mined total-mined ore) / t mined ore
7.45
8.57
3.45
7.98
7.45
8.57
3.45
7.98
Yield
2
- g/t
/ - oz/t
5.14
3.25
4.92
4.27
0.150
0.095
0.143
0.125
Gold placed
3
- kg
/ - oz (000)
1,732
932
1,598
2,664
56
30
51
86
Gold produced
- kg
/ - oz (000)
1,036
1,093
1,242
2,129
33
35
40
68
Gold sold
- kg
/ - oz (000)
996
1,201
1,115
2,197
32
39
36
71
Price received
- R/kg
/ - $/oz
- sold
137,924
139,121
130,839
138,578
607
599
629
603
Total cash costs
- R/kg
/ - $/oz
- produced
52,961
49,942
48,496
51,411
232
216
232
224
Total production costs
- R/kg
/ - $/oz
- produced
60,858
67,995
63,636
64,522
267
294
305
281
PRODUCTIVITY PER EMPLOYEE
Target
Target
- g
/ - oz
1,166
1,237
1,411
1,202
37.49
39.77
45.35
38.63
Actual
- g
/ - oz
1,335
1,481
1,723
1,406
42.92
47.60
55.40
45.20
FINANCIAL RESULTS (MILLION)
Gold income
Gold income
137
167
146
304
19
23
23
43
Cost of sales
61
82
66
143
9
11
10
20
Cash operating costs
44
42
50
86
6
6
8
12
Other cash costs
11
13
10
23
1
2
2
3
Total cash costs
55
55
60
109
8
8
9
15
Rehabilitation and other non-cash costs
1
1
2
2
-
-
-
-
Production costs
56
55
62
111
8
8
10
16
Amortisation of tangible assets
7
19
17
26
1
3
3
4
Inventory change
(2)
8
(14)
5
-
1
(2)
1
76
85
80
162
11
12
12
23
Realised non-hedge derivatives
-
-
-
-
-
-
-
-
76
85
80
162
11
12
12
23
Capital expenditure
5
5
1
10
1
1
-
1
1
Tonnes / Tons placed on to leach pad.
2
Gold placed / tonnes (tons) placed.
3
Gold placed into leach pad inventory.
Rounding of figures may result in computational discrepancies.
Rand / Metric
Dollar / Imperial
Gross profit excluding the effect of unrealised non-hedge
derivatives and other commodity contracts
derivatives and other commodity contracts
Namibia
Quarter
Quarter
Quarter
Six months
Quarter
Quarter
Quarter
Six months
ended
ended
ended
ended
ended
ended
ended
ended
June
March
June
June
June
March
June
June
2007
2007
2006
2007
2007
2007
2006
2007
NAVACHAB
OPERATING RESULTS
OPEN-PIT OPERATION
Volume mined
OPERATING RESULTS
OPEN-PIT OPERATION
Volume mined
- 000 bcm
/ - 000 bcy
685
812
844
1,497
896
1,062
1,104
1,958
Mined
- 000 tonnes
/ - 000 tons
1,729
2,022
2,097
3,751
1,906
2,228
2,311
4,135
Treated
- 000 tonnes
/ - 000 tons
401
418
351
819
442
461
386
903
Stripping ratio
- t (mined total-mined ore) / t mined ore
4.16
5.42
12.47
4.77
4.16
5.42
12.47
4.77
Yield
- g/t
/ - oz/t
1.55
1.47
1.95
1.51
0.045
0.043
0.057
0.044
Gold produced
- kg
/ - oz (000)
621
614
684
1,235
20
20
22
40
Gold sold
- kg
/ - oz (000)
641
675
629
1,316
21
22
20
42
Price received
- R/kg
/ - $/oz
- sold
137,429
138,759
130,685
138,111
605
598
638
601
Total cash costs
- R/kg
/ - $/oz
- produced
79,443
85,460
57,763
82,434
349
368
279
358
Total production costs
- R/kg
/ - $/oz
- produced
95,850
101,693
75,514
98,754
421
438
364
429
PRODUCTIVITY PER EMPLOYEE
Target
Target
- g
/ - oz
499
479
829
489
16.05
15.41
26.65
15.73
Actual
- g
/ - oz
621
629
747
625
19.96
20.24
24.00
20.10
FINANCIAL RESULTS (MILLION)
Gold income
Gold income
88
94
82
182
12
13
13
25
Cost of sales
62
65
45
127
9
9
7
18
Cash operating costs
46
49
39
95
6
7
6
13
Other cash costs
3
4
-
7
-
-
-
1
Total cash costs
49
52
39
102
7
7
6
14
Rehabilitation and other non-cash costs
-
-
-
-
-
-
-
-
Production costs
49
52
39
102
7
7
6
14
Amortisation of tangible assets
10
10
12
20
1
1
2
3
Inventory change
2
3
(7)
5
-
-
(1)
1
26
29
37
55
4
4
6
8
Realised non-hedge derivatives
-
-
-
-
-
-
-
-
26
29
37
55
4
4
6
8
Capital expenditure
6
3
5
8
1
-
1
1
Rounding of figures may result in computational discrepancies.
Rand / Metric
Dollar / Imperial
Gross profit excluding the effect of unrealised non-hedge
derivatives and other commodity contracts
derivatives and other commodity contracts
Tanzania
Quarter
Quarter
Quarter
Six months
Quarter
Quarter
Quarter
Six months
ended
ended
ended
ended
ended
ended
ended
ended
June
March
June
June
June
March
June
June
2007
2007
2006
2007
2007
2007
2006
2007
GEITA
OPERATING RESULTS
OPEN-PIT OPERATION
Volume mined
OPEN-PIT OPERATION
Volume mined
- 000 bcm
/ - 000 bcy
6,332
5,150
5,342
11,483
8,283
6,737
6,988
15,019
Mined
- 000 tonnes
/ - 000 tons
16,432
13,894
14,150
30,326
18,113
15,316
15,598
33,429
Treated
- 000 tonnes
/ - 000 tons
1,155
1,339
1,472
2,494
1,273
1,476
1,623
2,749
Stripping ratio
- t (mined total-mined ore) / t mined ore
11.33
10.58
8.90
10.97
11.33
10.58
8.90
10.97
Yield
- g/t
/ - oz/t
2.21
1.80
1.50
1.99
0.065
0.053
0.044
0.058
Gold produced
- kg
/ - oz (000)
2,553
2,412
2,203
4,965
82
78
71
160
Gold sold
- kg
/ - oz (000)
2,340
2,421
2,100
4,761
75
78
68
153
Price received
- R/kg
/ - $/oz
- sold
138,059
138,914
135,358
138,494
607
599
645
603
Total cash costs
- R/kg
/ - $/oz
- produced
76,486
103,153
105,814
89,438
337
447
507
390
Total production costs
- R/kg
/ - $/oz
- produced
110,139
133,407
128,519
121,440
485
577
617
530
PRODUCTIVITY PER EMPLOYEE
Target
Target
- g
/ - oz
853
625
969
739
27.41
20.10
31.14
23.76
Actual
- g
/ - oz
433
373
381
402
13.92
12.00
12.26
12.92
FINANCIAL RESULTS (MILLION)
Gold income
Gold income
167
195
173
362
24
27
26
50
Cost of sales
242
349
265
592
34
49
41
83
Cash operating costs
180
232
220
412
26
32
34
58
Other cash costs
11
11
10
22
2
2
2
3
Total cash costs
191
243
230
434
27
34
36
61
Rehabilitation and other non-cash costs
-
-
2
-
-
-
-
-
Production costs
191
243
232
434
27
34
36
61
Amortisation of tangible assets
86
73
48
159
12
10
7
22
Inventory change
(34)
33
(15)
(1)
(5)
5
(2)
-
(75)
(155)
(93)
(230)
(11)
(22)
(14)
(32)
Realised non-hedge derivatives
156
142
112
298
22
20
17
42
81
(13)
19
68
11
(2)
3
9
Capital expenditure
34
25
84
59
5
3
13
8
Rounding of figures may result in computational discrepancies.
Rand / Metric
Dollar / Imperial
Gross profit (loss) excluding the effect of unrealised non-hedge
derivatives and other commodity contracts
derivatives and other commodity contracts
USA
Quarter
Quarter
Quarter
Six months
Quarter
Quarter
Quarter
Six months
ended
ended
ended
ended
ended
ended
ended
ended
June
March
June
June
June
March
June
June
2007
2007
2006
2007
2007
2007
2006
2007
CRIPPLE CREEK & VICTOR J.V.
OPERATING RESULTS
HEAP LEACH OPERATION
Mined
HEAP LEACH OPERATION
Mined
- 000 tonnes
/ - 000 tons
12,139
12,036
14,818
24,175
13,381
13,267
16,334
26,648
Placed
1
- 000 tonnes
/ - 000 tons
5,280
4,864
5,705
10,144
5,821
5,361
6,289
11,182
Stripping ratio
- t (mined total-mined ore) / t mined ore
1.47
1.62
1.57
1.54
1.47
1.62
1.57
1.54
Yield
2
- g/t
/ - oz/t
0.50
0.56
0.54
0.53
0.015
0.016
0.016
0.015
Gold placed
3
- kg
/ - oz (000)
2,638
2,738
3,080
5,376
85
88
99
173
Gold produced
- kg
/ - oz (000)
2,142
1,980
2,030
4,122
69
64
65
133
Gold sold
- kg
/ - oz (000)
2,015
1,892
2,009
3,906
65
61
65
126
Price received
- R/kg
/ - $/oz
- sold
138,455
139,842
59,038
139,127
609
601
288
605
Total cash costs
4
- R/kg
/ - $/oz
- produced
56,679
56,156
49,987
56,428
249
242
242
246
Total production costs
- R/kg
/ - $/oz
- produced
78,462
79,372
74,525
78,899
345
342
360
343
PRODUCTIVITY PER EMPLOYEE
Target
Target
- g
/ - oz
2,467
2,155
2,835
2,311
79.32
69.28
91.15
74.30
Actual
- g
/ - oz
2,511
1,729
2,069
2,063
80.72
55.60
66.53
66.33
FINANCIAL RESULTS (MILLION)
Gold income
Gold income
187
161
85
348
26
22
13
49
Cost of sales
168
157
151
325
24
22
23
45
Cash operating costs
178
183
153
361
25
25
24
50
Other cash costs
5
6
9
11
1
1
1
2
Total cash costs
183
189
161
372
26
26
25
52
Rehabilitation and other non-cash costs
3
3
3
6
-
-
-
1
Production costs
186
192
165
378
26
27
26
53
Amortisation of tangible assets
53
56
96
109
8
8
14
15
Inventory change
(71)
(91)
(110)
(162)
(10)
(13)
(17)
(23)
19
4
(66)
23
3
1
(10)
3
Realised non-hedge derivatives
92
103
34
195
13
14
5
27
111
107
(33)
218
16
15
(5)
31
Capital expenditure
26
47
16
74
4
7
2
10
1
Tonnes / Tons placed onto leach pad.
2
Gold placed / tonnes (tons) placed.
3
Gold placed into leach pad inventory.
4
Total cash cost calculation includes inventory change.
Rounding of figures may result in computational discrepancies.
Rand / Metric
Dollar / Imperial
Gross profit (loss) excluding the effect of unrealised non-hedge
derivatives and other commodity contracts
derivatives and other commodity contracts
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 2006 dated 06 July 2007, which was filed with the Securities and Exchange Commission (SEC) on 09 July 2007.
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 2006 dated 06 July 2007, which was filed with the Securities and Exchange Commission (SEC) on 09 July 2007.
Administrative
information
ANGLOGOLD
ASHANTI
LIMITED
Registration No. 1944/017354/06
Incorporated in the Republic of South
Africa
Incorporated in the Republic of South
Africa
Share codes:
ISIN: ZAE000043485
JSE:
JSE:
ANG
LSE:
AGD
NYSE:
AU
ASX:
AGG
GhSE (Shares):
AGA
GhSE (GhDS):
AAD
Euronext Paris:
VA
Euronext Brussels:
ANG
JSE Sponsor:
UBS
Auditors:
Ernst & Young
Offices
Registered and Corporate
76 Jeppe Street
Newtown 2001
(PO Box 62117, Marshalltown 2107)
South Africa
Telephone: +27 11 637 6000
Fax: +27 11 637 6624
Newtown 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
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
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
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 *
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 P Edey * (Chairman)
Dr T J Motlatsi (Deputy Chairman)
F B Arisman
#
R E Bannerman
Mrs E le R Bradley
Mrs C Carroll
Mrs E le R Bradley
Mrs C Carroll
#
R Médori
~
(Alternate: P G Whitcutt)
J H Mensah
W A Nairn
Prof W L Nkuhlu
S M Pityana
S R Thompson *
W A Nairn
Prof W L Nkuhlu
S M Pityana
S R Thompson *
* British
#
American
Ghanaian
~ French
! Brazilian
Officers
Managing Secretary: Ms Y Z Simelane
Company Secretary: Ms L Eatwell
Managing Secretary: Ms Y Z Simelane
Company Secretary: Ms L Eatwell
Contacts
Charles Carter
Telephone: +27 11 637 6385
Fax: +27 11 637 6400
E-mail: cecarter@AngloGoldAshanti.com
Telephone: +27 11 637 6385
Fax: +27 11 637 6400
E-mail: cecarter@AngloGoldAshanti.com
Himesh Persotam
Telephone: +27 11 637 6647
Fax: +27 11 637 6400
E-mail:
hpersotam@AngloGoldAshanti.com
Telephone: +27 11 637 6647
Fax: +27 11 637 6400
E-mail:
hpersotam@AngloGoldAshanti.com
General E-mail enquiries
investors@AngloGoldAshanti.com
investors@AngloGoldAshanti.com
AngloGold Ashanti website
http://www.AngloGoldAshanti.com
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
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
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
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
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
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
SM
BoNY maintains a direct share purchase
and dividend reinvestment plan for
ANGLO GOLD ASHANTI.
Telephone: +1-888-BNY-ADRS
and dividend reinvestment plan for
ANGLO GOLD 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.
report to be signed on its behalf by the undersigned, thereunto duly authorized.
AngloGold Ashanti Limited
Date: July 31, 2007,
By:
/s/ L Eatwell
Name:
L Eatwell
Title:
Title:
Company Secretary