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South Africa, Anglogold Ashanti Is the Third Largest Gold Producer in the World with Operations Around the Globe

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South Africa, Anglogold Ashanti Is the Third Largest Gold Producer in the World with Operations Around the Globe FACT SHEET Headquartered in Johannesburg, South Africa, AngloGold Ashanti is the third largest gold producer in the world with operations around the globe. It has 20 operations in 10 countries on four continents as well as several exploration programmes in both the established and new gold producing regions of the world. Group activities are managed in four operational regions: South Africa, Continental Africa, Australasia and the Americas (both North and South America). AngloGold Ashanti – a corporate profile The South African operations employed an average of 32,082 people during the year, of whom 28,176 were contractors and 3,906 AngloGold Ashanti employed 61,242 people, including contractors, permanent employees (2010: 35,660). in 2011 (2010: 62,046) and produced 4.33Moz of gold (2010: 4.52Moz), generating $6.6bn in gold income, excluding joint ventures Capital expenditure for the region totalled $532m, an increase of 25% (2010: $5.3bn). Capital expenditure in 2011 amounted to $1.5bn on the $424m spent in 2010. The bulk of this was spent at Mponeng (2010: $1.0bn). $172m, Moab Khotsong $147m, Kopanang $92m and TauTona $79m. Capital expenditure over the past five years totalled $2bn. As at 31 December 2011, AngloGold Ashanti had a total attributable Ore Reserve of 75.6Moz (2010: 71.2Moz) and a total attributable At 31 December 2011, AngloGold Ashanti had a total Mineral Resource Mineral Resource of 230.9Moz (2010: 220.0Moz). in South Africa of 97.63Moz and a total Ore Reserve of 32.43Moz. These are equivalent to 42% and 43% respectively of group resources AngloGold Ashanti has its primary listing on the Johannesburg Stock Exchange (JSE) and is also listed on the New York, London, and reserves. Australia and Ghana stock exchanges. As at 31 December 2011, there were 382 million ordinary shares in issue and the company had Performance in South Africa in 2011 a market capitalisation of $16.2bn (2010: $18.8bn). Shareholders are scattered around the world, with the largest proportion (48%) Operational performance being in the United States. In total, 16.4Mt of ore was milled in 2011. The average total cash costs AngloGold Ashanti in South Africa in US dollar terms for the South Africa region increased by 16% to $694/oz (2010: $598/oz). Mponeng, with a cash cost of $546/oz, was the lowest In South Africa, AngloGold Ashanti has six deep-level mines and a cost producer in the region. surface operation (there are several of these but they are collectively treated as one). These mines are: The South African operations faced a challenging operating environment during 2011, including a strong rand in the first half, continued interruptions • Vaal River operations – Great Noligwa, Kopanang, Moab Khotsong from Section 54 safety-related stoppages, an industry-wide strike in the and the surface operation; and third quarter and a decision taken in the first quarter to halt mining of the main shaft pillar at TauTona to mitigate safety risk. • West Wits operations – Mponeng, Savuka and TauTona. The region has developed a framework to address socioeconomic These operations together produced 1.62Moz of gold in 2011, focus areas within and outside of the business over a three-year period. equivalent to 37% of group production (Vaal River operations 51%, This involves government, social and industry partnerships to address and West Wits operations, 49%). This was 9% less than in 2010. economic gaps created as the operations mature, and production tapers In addition, 1.38Mlb of uranium was produced as a by-product. off over a 10-year period. 1 Key statistics – South Africa 2011 2010 Operation Attributable tonnes treated/milled Mt 16.4 17.0 Gold production (attributable) (000oz) 1,624 1,785 Total cash costs ($/oz) 694 598 Capital expenditure ($m) 532 424 Average number of employees 32,082 35,660 – Permanent 28,176 31,723 – Contractors 3,906 3,937 Productivity (oz/TEC) 5.85 5.63 Safety Fatal injury frequency rate per million hours worked 0.11 0.12 All injury frequency rate (AIFR) per million hours worked 15.57 16.69 Environment Water usage – total ML 18,821 20,896 – groundwater ML 5,454 7,146 – surface water ML 3,902 3,764 – purchased ML 9,456 – Energy consumption – total million GJ 11.13 11.75 – direct energy consumption million GJ 0.20 0.22 – diesel million GJ 0.20 0.22 – natural gas million GJ – – – heavy fuel oil – – – indirect million GJ 10.93 11.53 Greenhouse gas emissions (CO2e) 000t 3,079 3,419 – direct 000t 116 (1) 120 (2) – indirect 000t 3,006 3,299 Cyanide used t 3,913 4,575 Reportable environmental incidents 12 10 Socio-economic Community investment $000 3,670 3,242 Community incidents reported (where applicable) – – Payments to government $000 313,334 199,455 – dividends paid to government $000 – – – taxation paid $000 102,023 37,925 – withholding tax (STC, royalties, etc) $000 37,925 35,451 – other indirect taxes and duties $000 – – – employee taxes and other contributions (3) $000 132,249 117,142 – property tax $000 2,765 3,437 – other (includes tax on exports) $000 5,600 5,500 Local spend (4) within country % 99 99 (1) Restated from 16,000t (2) Restated from 18,000t (3) Includes remittance made to government but borne by employees as individual taxation eg PAYE, UIF. (4) Local spend is defined as spend undertaken within the country (currently includes indirect imports as well as locally produced goods). 2 AngloGold Ashanti Fact Sheet 2011 South Africa Growth: the two most significant growth projects in the South Africa in the region’s gold production profile together with a strategy of removing region are: employees from high-risk areas will inevitably lead to reductions in our labour force over the medium term. • Project Zaaiplaats at Moab Khotsong is designed to extend the operation’s life to about 2037 by exploiting the Zaaiplaats block The major challenges for AngloGold Ashanti’s operations in South southwest of the current mine, unlocking 5.4Moz of gold. This will Africa are: also provide a gateway for further opportunities. Phase 1, which was approved in August 2010 and will yield no gold, is currently Safety underway. Phase 1, which will cost R165m, will conclude in 2012 with AngloGold Ashanti believes that safety and health are not only business the establishment of the infrastructure to continue with phase 2 and imperatives, but are part of the company’s obligation to operate with the development of the eastern access. Phase 2 will also involve the respect for human rights. An incident investigation protocol has been establishment of a drilling platform to further increase the geological developed and deployed and an incident management and tracking (structural) confidence of a bigger portion of the Zaaiplaats orebody, system developed with a global pilot already in progress. while delivering first production from the project to bridge the gap between current mining activities and access to the main portion of the Nine fatalities were recorded in South Africa in 2011 (2010: 10), which is Zaaiplaats orebody. Redesign and supplementary studies will continue a vast improvement on the 32 fatalities recorded in 2006. There was one along the way, with changes incorporated from drilling information and fatality each at Great Noligwa and Moab Khotsong, three at Mponeng and practical experience of the use of trackless equipment. In order to begin four at Kopanang. The AIFR for South Africa improved from 33.12 per critical path development, an additional R136m was approved as ‘early million hours worked in 2006 to 15.56 in 2011 (2010: 16.69). start’ capital for phase 2. At all South African operations, a ‘three-pillar’ safety strategy will focus During phase 3, scheduled for 2014, full approval of the remaining on removing people from areas of risk, modifying behaviour and attitudes phase of the Zaaiplaats project will be sought. Phase 1 is currently in the to risk and improving planning. Crews are being initiated into the Simunye implementation stage and access development has been completed safety training programme, which is expected to assist in further improving ahead of schedule. safety through its requirements to ensure regular inspections, behaviour observations, group meetings and frequent workplace risk assessments. • Mponeng hosts the most significant of the group’s South African This five-week training programme is mostly activity-based, with exercises investment in its Below 120 Deepening Project, which will extend that include elements of high-and-low rope activities, challenging and the life of this operation. This project, which will access the Carbon developing the resilience of the participants. A total of 68 crews had Leader and Ventersdorp Contact reefs below the current 120 level, is been trained by September 2011. The positive impact of the training being tackled in a phased approach with the development of a decline was immediately apparent as the teams that graduated from the process from the existing infrastructure to gain quicker access to the ore and showed overall improvement in respect of safe planned work, individual significantly improve payback, project returns and future expansion and team performance and potential earnings. An early indicator of options. success came from the first crew that attended the training in Mponeng The CLR portion of the project will ultimately access 11.3Moz and and achieved a noticeable 62% improvement in output (by September) the VCR another 3.2Moz through to 2030. Phase 1 refers to the compared to results before training. The programme is expected to take VCR below 120 project, currently being implemented to develop four three years to complete. declines from 120 level to the 126/127 levels to exploit the VCR Further development of technology and innovation strategy to enable orebody.
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