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Integrated Report 2018 <IR> <SDR> <NOM> <R&R> <AFS> SUITE OF REPORTS INTEGRATED REPORT 2018 VISION MISSION AngloGold Ashanti To be the leading To create value for our shareholders, our employees and our business and social partners through safely and responsibly Limited (AngloGold mining company. exploring, mining and marketing our products. Our primary focus is gold, but we will pursue value-creating opportunities Ashanti) is an in other minerals where we can leverage our existing assets, independent, global skills and experience to enhance the delivery of value. mining company OUR VALUES with operations Our business values and beliefs guide our behaviour, in order that we make a positive impact. and projects on These behaviours and beliefs link our business activities to our social performance. four continents. AngloGold Ashanti is the third largest Safety is our We treat each We are accountable We want the We value We respect the gold producer in first value. other with dignity for our actions communities and diversity. environment. and respect. and undertake societies in which we the world in terms to deliver on our operate to be better commitments. off for AngloGold of production. Ashanti having been there. INTEGRATED REPORT 2018 <IR>CONTENTS The structure of our integrated report reflects our value creation About Directors’ statement story and how we delivered on our strategic objectives in 2018, our reports of responsibility, commitment and considering the world in which we operate, the resource inputs assurance required and used, and the governance framework we have in place PAGE 2 PAGE 4 to guide and oversee sustained value creation. SECTION 1 SECTION 2 SECTION 3 SECTION 4 ABOUT ANGLOGOLD DELIVERING ON OUR STRATEGY LEADERSHIP AND CORPORATE ASHANTI ACCOUNTABILITY INFORMATION Who we are – 6 CEO’s review and outlook 15 CFO’s review 44 Focus on people, safety 125 Audit and Risk Committee: 142 Forward-looking 184 corporate profile and sustainability chairman’s letter statements Our business model – 19 Ensure financial flexibility 50 Key features of the year 9 creating value and optimise overhead People are our business 126 Corporate governance 144 Administration and 185 costs and capital corporate information Chairman’s letter 10 How we share value 24 expenditure Managing our 133 Board 150 sustainability and ESG Our strategy and 13 Our external operating 25 Financial review – 51 impacts Executive management 152 investment case environment five-year statistics Remuneration and Human 153 Stakeholder engagement 28 Improve portfolio quality 57 Resources Committee: and material issues and maintain long-term chairman’s letter optionality Managing our risks and 34 Remuneration report 155 opportunities Regional reviews 58 Five-year statistics by 90 operation Mineral Resource and Ore 110 Reserve – summary Exploration – planning 118 for the future INTEGRATED REPORT 2018 1 ABOUT OUR REPORT Scope, boundary and reporting principles This 2018 integrated report documents our corporate structure, we report fully on all AngloGold Ashanti’s operational and financial operations managed by AngloGold Ashanti. performance incorporating our performance in Those operations in which we have an Materiality and target audience relation to the environment and society, ownership interest but do not manage – While information presented in this report is aimed primarily at current and potential and how this is guided and underpinned by Kibali and Morila – are partially reported. investors and financiers, to enable them to assess our ability to create value and the our governance framework for the year from There were no significant changes to the future viability of our business, this report will also be relevant to other stakeholders – 1 January to 31 December 2018. scope, boundary or measurement methods various levels of government, regulators, NGOs, among others – who have an interest in used in this report. Restatements of our performance and outlook. Structured according to our strategic comparatives, if any, are indicated. objectives, this report aims to provide a The material risks and issues reported are those considered most likely to affect the concise, comprehensive review, highlighting Information relating to joint ventures and sustainability of our business in the short, medium and long term. In identifying these, successes, challenges and progress in other interests is provided if deemed material. as well as any opportunities, we have taken into account our operating context and delivering on our strategy, given our external Production, costs and capital expenditure data stakeholder feedback during the year. Our most material stakeholder issues are operating context, the ensuing material is attributable, unless otherwise indicated. discussed more fully in the <SDR>. opportunities and risks, stakeholders’ Employee data and average workforce data concerns and the outlook for the future and are reported for AngloGold Ashanti with joint Your feedback is important to us. Should you have any queries, please the long-term sustainability of the business. ventures reported as attributable. Employee address these to our company secretary/investor relations at data includes both permanent employees [email protected]. In addition to the King IV Report on Corporate and contractors. Governance for South Africa, 2016 (King IV), this integrated report also complies with the While this report presents an integrated International Integrated Reporting Council’s overview of the Company in terms of the (IIRC’s) framework on integrated reporting, capitals used and impacted, more detailed The 17 SDGs, developed to the South African Companies Act, No.71 coverage of our sustainable development SUSTAINABLE support the United Nations of 2008 (as amended) and the JSE Listings performance is presented in the Sustainable 2030 Agenda, are aimed Requirements. Development Report 2018. DEVELOPMENT GOALS overall at ending poverty In this integrated report, we acknowledge the United and inequality, protecting the This is a group level report covering the Any significant, material event that occurs Nations’ Sustainable Development Goals (SDGs). Our planet, and ensuring peace entire Company, including its joint ventures between the end of the financial year and the sustainable development strategy and its aims, which and prosperity for all. and investments. While performance and date on which this report is approved support our overall business strategy, are aligned with targets are reported regionally, in line with is included. the SDGs. The SDGs also speak to our environment, social and governance (ESG) impacts. More detailed See page information on our contribution towards achieving the SDGs can be found in the <SDR>. 21 INTEGRATED REPORT 2018 2 ABOUT OUR REPORT CONTINUED AngloGold Ashanti’s 2018 suite of reports comprises: <IR> <NOM> <SDR> <R&R> <AFS> <WWW> Integrated Report Notice of Annual General Sustainable Development Mineral Resource and Ore Annual Financial Statements Our dedicated annual reporting • The primary document in our Meeting and Summarised Report Reserve Report • Prepared in accordance with website, hosts PDFs of the suite of reports Financial Information (Notice • Describes commitment to • Detailed breakdown of our the International Financial full suite of reports to facilitate of Meeting) Reporting Standards (IFRS), ease of access by and • Provides a comprehensive sustainable development Mineral Resource and Ore the requirements of the communication with overview of our performance • Notice of forthcoming annual • Provides detail on socio- Reserve – at group and South African Companies stakeholders. in relation to our strategic general meeting economic and environmental operational level Act, No 71 of 2008, as objectives and the outlook • Description of resolutions to performance in relation to • Complies with SAMREC and amended, the JSE Listings for the Company be voted on material issues JORC, as well as Section Requirements and King IV • Both financial and non- • Remuneration policy and • Complies with GRI 12.11 of the JSE Listings Audited in accordance with Requirements • financial performance are implementation report Standards and is aligned International Standards on reviewed • Summarised financial with the UN Global Compact • Signed off by Competent Auditing and UN Sustainable Person • Complies with the IIRC information • Includes the Directors’ report framework, King IV and the Development Goals (SDGs) JSE Listings Requirements • Independently assured www.aga-reports.com Houses the full suite of 2018 reports together with supplementary information Scan to visit the mobile website OPERATIONAL PROFILES <OP> Compiled for each operation, these include relevant operational and sustainable development information INTEGRATED REPORT 2018 3 DIRECTORS’ STATEMENT OF RESPONSIBILITY, COMMITMENT AND ASSURANCE The board and executive management consider the matters discussed in this report Approvals and assurance to be those that most influence our ability to The information contained in this report has been subject to either an internal successfully achieve our strategic objectives, or an external audit. The group’s annual financial statements were subject to an create value and manage the risks we face, external audit and signed off by Ernst & Young (EY). Internal audit and approval and believe that this report fairly records our processes, including, among others, management assurance and internal audit performance in the past year and our outlook.
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