AngloGold Ashanti Limited
(NYSE:AU)

AngloGold Ashanti Limited operates as a gold mining company. It also produces gold, silver, uranium, and sulphuric acid; and dre bars. The company operates ten operations and three projects in eight countries in South Africa, Continental Africa, the Americas, and Australia. AngloGold Ashanti Limited...

Website: http://www.anglogoldashanti.com

Founded: 2004

Full Time Employees: 26,000

Sector: Basic Materials

Industry: Gold

Materials Gold

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Quarterly

Annual

Unit: USD	2023-06-30	2023-03-31	2022-06-30	2021-12-31	2021-06-30	2021-03-31	2020-12-31	2020-06-30	2020-03-31	2019-06-30	2018-12-31	2018-06-29	2016-12-31	2013-09-13	2013-07-02	2011-12-02	2011-07-27	2011-06-30	2010-12-31	2010-09-30	2010-09-07	2010-08-11	2010-06-30	2010-04-20	2009-12-31	2009-08-31

us dollar million
revenue from product sales	2,186	1,028	2,155	2,064	1,965	979	4,426,998,037	1,963	905	1,826	1,941	2,002
cost of sales	-1,749	-839	-1,592	-1,457	-1,400	-677	-2,698,998,710	-1,290	-636			-1,602
gain on non-hedge derivatives and other commodity contracts	-2						-18,999,985	-15	-13	7		10
gross profit	435	182	563	607	565	302	1,708,999,342	658	256	337	362	410
yoy	-23.01%	-39.74%	-100.00%	-7.75%	120.70%	-10.39%	472099165.75%	60.49%
qoq	139.01%	-67.67%	-7.25%	7.43%	87.09%	-100.00%	259726243.77%	157.03%	-24.04%	-6.91%	-11.71%
corporate administration, marketing and related expenses	-44	-20	-42	-36
exploration and evaluation costs	-112	-47	-84	-104	-59	-31	-123,999,944	-56	-27			-46
impairment, derecognition of assets and profit on disposal	-126			12
other (expenses) income	-58		-13	-110	-26	-2	-7	-28	-20
operating profit	95	107	422	369	442	253	1,458,999,463	537	192	191	209	119
yoy	-78.51%	-57.71%	-100.00%	-31.28%	130.21%	32.46%	698085767.46%	351.26%
qoq	-11.21%	-74.64%	14.36%	-16.52%	74.70%	-100.00%	271694399.63%	179.69%	0.52%	-8.61%	75.63%
interest income	57	26	31	29	29	14	26,999,991	9	5	8	7	9
foreign exchange and fair value adjustments	-75	-30	-53	-13
finance costs and unwinding of obligations	-75	-42	-65	-61	-55	-30	-176,999,914	-86	-43			-85
share of associates and joint ventures’ profit	75	31	72		122
profit before taxation	77	92	407	451	507	279	1,588,999,403	597	231	181	192	86
taxation	-32	-24	-94	-178	-134	-70	-624,999,792	-208	-95			-43							-31,750,000	-127,000,000
profit for the period	45	68	313	273	373	209	107	428	171
allocated as follows:
equity shareholders	40	66	298							114	100	33
non-controlling interests	5	2	15							2	7	10
basic earnings per ordinary share	10	16
diluted earnings per ordinary share	10	16
loss on non-hedge derivatives and other commodity contracts
calculated on the basic weighted-average number of ordinary shares.
calculated on the diluted weighted-average number of ordinary shares.
the financial statements for the three months ended 31 march 2023 have been prepared by the corporate accounting staff of anglogold ashanti limited headed by mr ian kramer (ca (sa)), the group’s senior vice president: group finance. this process was supervised by ms gillian doran (fcca), the group’s chief financial officer and mr alberto calderon (phd, mphil, ma, ba (economics), juris doctor (law)), the group’s chief executive officer.
basic profit per ordinary share			71	62	86	48	25	100	40	27	24	8
diluted profit per ordinary share			71	62	86	48	25	100	40	27	24	8
the financial statements for the six months ended 30 june 2022 have been prepared by the corporate accounting staff of anglogold ashanti limited headed by mr mark pringle (bcomm), the group’s interim svp: finance. this process was supervised by mr ian kramer (ca (sa)), the group’s interim chief financial officer and mr alberto calderon (phd, mphil, ma, ba (economics), juris doctor (law)), the group’s chief executive officer. the financial statements for the six months ended 30 june 2022 were reviewed, but not audited, by the group’s statutory auditors, ernst & young inc.
continuing operations
dividends received											2
share of associates and joint ventures' profit				127		57	29.75	119	58	78	81	40
profit for the period from continuing operations				273	373	209	97.25	389	136
discontinued operations																									23,000,000	23,000,000
profit from discontinued operations							6,999,961	39	35
- continuing operations				260	362	203	945,999,618	382	134
- discontinued operations							6,999,961	39	35
earnings per ordinary share from continuing operations				62	86	48	224,999,909	91	32
earnings per ordinary share from discontinued operations							1,999,991	9	8
the financial statements for the twelve months ended 31 december 2021 have been prepared by the corporate accounting staff of anglogold ashanti limited headed by mr ian kramer (ca (sa)), the group's svp: finance. this process was supervised by ms kandimathie christine ramon (ca (sa)), the group's chief financial officer and mr alberto calderon (phd, mphil, ma, ba (economics), juris doctor (law)), the group's chief executive officer. the financial statements for the twelve months ended 31 december 2021 were reviewed, but not audited, by the group's statutory auditors, ernst & young inc.
corporate administration, marketing and other incomes					-37	-16	-67,999,964	-36	-16			-37
foreign exchange and other gains					-31	-15
the financial statements for the six months ended 30 june 2021 have been prepared by the corporate accounting staff of anglogold ashanti limited headed by ms. alexandra strobl (ca (sa)), the group’s vp: finance. this process was supervised by mr. ian kramer (ca (sa)), the group’s interim chief financial officer and ms. kandimathie christine ramon (ca (sa)), the group’s interim chief executive officer. the financial statements for the six months ended 30 june 2021 were reviewed, but not audited, by the group’s statutory auditors, ernst & young inc.
foreign exchange gains							4.5	18	19
the financial statements for the six months ended 30 june 2020 have been prepared by the corporate accounting staff of anglogold ashanti limited headed by mr ian kramer (ca (sa)), the group's svp: group finance. this process was supervised by ms kandimathie christine ramon (ca (sa)), the group's chief financial officer and mr kelvin dushnisky (b.sc. (honours); m.sc; j.d.), the group's chief executive officer. the financial statements for the six months ended 30 june 2020 were reviewed, but not audited, by the group's statutory auditors, ernst & young inc.
the financial statements for the three months ended 31 march 2020 have been prepared by the corporate accounting staff of anglogold ashanti limited headed by mr ian kramer (ca (sa)), the group's svp: finance. this process was supervised by ms kandimathie christine ramon (ca (sa)), the group's chief financial officer and mr kelvin dushnisky (b.sc. (honours); m.sc; j.d.), the group's chief executive officer.
other operating expenses												-57
special items												-151
other gains and												3
fair value adjustments										1
profit after taxation										116	107	43
other
the financial statements for the twelve months ended 31 december 2018 have been prepared by the corporate accounting staff of anglogold ashanti limited headed by mr ian kramer (ca (sa)), the group's vp: finance. this process was supervised by ms kandimathie christine ramon (ca (sa)), the group's chief financial officer and mr kelvin dushnisky (b.sc. (honours); m.sc; j.d.), the group's chief executive officer. the financial statements for the twelve months ended 31 december 2018 were reviewed, but not audited, by the group's statutory auditors, ernst & young inc. any forward looking financial information as well as the information for the six months ended 31 december 2018 disclosed in this results announcement have not been reviewed or audited or otherwise reported on by ernst & young inc. certain information presented in this results announcement constitutes pro forma financial information. this information is the responsibility of the company's board and is presented for illustrative purposes only. because of its nature the pro forma financial information may not fairly present the company's financial information, changes in equity and results of operations or cash flows. this information has not been reviewed or audited or otherwise reported on by ernst & young inc.
the financial statements for the six months ended 30 june 2018 have been prepared by the corporate accounting staff of anglogold ashanti limited headed by mr ian kramer (ca (sa)), the group's vp: finance. this process was supervised by ms kandimathie christine ramon (ca (sa)), the group's chief financial officer and mr srinivasan venkatakrishnan (bcom; aca (icai)), the group's chief executive officer. the financial statements for the six months ended 30 june 2018 were reviewed, but not audited, by the group's statutory auditors, ernst & young inc.
any forward looking financial information disclosed in this results announcement has not been reviewed or audited or otherwise reported on by ernst & young inc.
certain information presented in this results announcement constitutes pro forma financial information. this information is the responsibility of the company’s board of directors and is presented for illustrative purposes only. because of its nature the pro forma financial information may not fairly present the company’s financial information, changes in equity and results of operations or cash flows. this information has not been reviewed or audited or otherwise reported on by ernst & young inc.
sales and other income														2,737,000,000	1,474,000,000	4,845,000,000	1,435,000,000	3,020,000,000	1,581,000,000	3,821,000,000	2,406,000,000	3,954,000,000	2,406,000,000	3,954,000,000	3,730,000,000	3,730,000,000
product sales														2,705,000,000	1,463,000,000	4,791,000,000	1,422,000,000	2,998,000,000	1,543,000,000	3,791,000,000	2,370,000,000	3,784,000,000	2,370,000,000	3,784,000,000	3,655,000,000	3,655,000,000
interest, dividends and other														32,000,000	11,000,000	54,000,000	13,000,000	22,000,000	38,000,000	30,000,000	36,000,000	170,000,000	36,000,000	170,000,000	75,000,000	75,000,000
cost and expenses														4,625,000,000	1,167,000,000	3,226,000,000	1,077,000,000	2,041,000,000	906,000,000	3,624,000,000	2,312,000,000		2,312,000,000	4,852,000,000	4,103,000,000	4,103,000,000
production costs														1,625,000,000	835,000,000	2,151,000,000	708,000,000	1,410,000,000	779,000,000	1,877,000,000	1,196,000,000	2,229,000,000	1,196,000,000	2,229,000,000	2,159,000,000	2,159,000,000
exploration costs														154,000,000	77,000,000	196,000,000	57,000,000	120,000,000	49,000,000	157,000,000	94,000,000	150,000,000	94,000,000	150,000,000	126,000,000	126,000,000
related party transactions														-10,000,000	-4,000,000	-8,000,000	-4,000,000	-5,000,000	-2,000,000	-13,000,000	-8,000,000	-18,000,000	-8,000,000	-18,000,000	-10,000,000	-10,000,000
general and administrative														130,000,000	68,000,000	207,000,000	68,000,000	136,000,000	78,000,000	150,000,000	100,000,000	158,000,000	100,000,000	158,000,000	136,000,000	136,000,000
royalties														67,000,000	37,000,000	142,000,000	40,000,000	87,000,000	46,000,000	96,000,000	58,000,000	84,000,000	58,000,000	84,000,000	78,000,000	78,000,000
market development costs														3,000,000	1,000,000	6,000,000	3,000,000	4,000,000	5,000,000	9,000,000	5,000,000	10,000,000	5,000,000
depreciation, depletion and amortization														405,000,000	206,000,000	583,000,000	192,000,000	387,000,000	206,000,000	514,000,000	336,000,000	615,000,000	336,000,000	615,000,000	615,000,000	615,000,000
impairment of assets														2,134,000,000		14,000,000	1,000,000	11,000,000	59,000,000	32,000,000	19,000,000	8,000,000	19,000,000	8,000,000	670,000,000	670,000,000
interest expense														125,000,000	60,000,000	135,000,000	44,000,000	91,000,000	49,000,000	102,000,000	67,000,000	123,000,000	67,000,000	123,000,000	72,000,000	72,000,000
accretion expense														21,000,000	11,000,000	21,000,000	7,000,000	14,000,000	6,000,000	16,000,000	10,000,000	17,000,000	10,000,000	17,000,000	22,000,000	22,000,000
employment severance costs														12,000,000	6,000,000	10,000,000	4,000,000	7,000,000	9,000,000	14,000,000	10,000,000	14,000,000	10,000,000	14,000,000	9,000,000	9,000,000
loss/														301,000,000	25,000,000				8,250,000	33,000,000	16,000,000		16,000,000
non-hedge derivative gain and movement on bonds														-342,000,000	-155,000,000		-41,000,000
(loss)/income before income tax and equity income in associates														-1,888,000,000
taxation benefit/														203,000,000
equity (loss)/income in associates														-194,000,000	-1,000,000
net (loss)/income														-1,879,000,000											-521,000,000
less: net income/(income) attributable to noncontrolling interests														6,000,000
net (loss)/income - attributable to anglogold ashanti														-1,873,000,000
ordinary shares														-485,000,000	55	309	62	183	-21,999,970	22,000,000	2	-230	2	-230	-186,000,000	-186
e ordinary shares														-242,000,000	27	155	31	92	-10,999,985	11,000,000	1	-115	1	-115	-93,000,000	-93
ordinary shares - diluted														-536,000,000	21
e ordinary shares - diluted														-268,000,000	11
weighted-average number of shares used in computation
e ordinary shares - basic and diluted														1,604,681,000,000	1,613,092
dividend declared per ordinary share														10,000,000	5	23	11	11	4,500,000	18,000,000	10		10
dividend declared per e ordinary share														5,000,000	3	12	6	6	2,250,000	9,000,000	5		5
income before income tax and equity income in associates															307,000,000
taxation expense															-86,000,000	-452,000,000	-124,000,000	-284,000,000			-106,000,000		-106,000,000		-22,000,000	-22,000,000
net income															220,000,000	1,220,000,000	243,000,000	723,000,000			27,000,000	-777,000,000	27,000,000	-777,000,000		-521,000,000
yoy																	800.00%	-193.05%				49.14%
qoq															-81.97%	402.06%	-66.39%				-103.47%	-2977.78%	-103.47%
less: net income attributable to noncontrolling interests															-8,000,000	-32,000,000	-6,000,000	-20,000,000	-18,000,000	-36,000,000	-23,000,000	-48,000,000	-23,000,000
net income – attributable to anglogold ashanti															212,000,000
income per share attributable to anglogold ashanti common stockholders:
non-hedge derivative loss and movement on bonds																-199,000,000			149,000,000	637,000,000
income from continuing operations before income tax and equity income in associates																1,619,000,000	358,000,000	979,000,000
equity income in associates																53,000,000	9,000,000	28,000,000
net income—attributable to anglogold ashanti																1,188,000,000
ordinary shares—diluted																277
e ordinary shares—diluted																143
e ordinary shares—basic and diluted																2,958,298
net income — attributable to anglogold ashanti																	237,000,000	703,000,000			4,000,000		4,000,000
ordinary shares — diluted																	62	182	-21,999,970	22,000,000		-230		-230	-186,000,000	-186
e ordinary shares — diluted																	31	91	-10,999,985	11,000,000		-115		-115	-93,000,000	-93
e ordinary shares — basic and diluted																	2,782,784	2,723,866	-3,305,312,817,338	3,305,316,000,000		3,873,169		3,873,169	4,046,364,000,000	4,046,364
non-hedge derivative																		-180,000,000
income/(loss) from continuing operations before income tax and equity income in affiliates																			49,250,000	197,000,000
equity income in affiliates																			12,000,000	48,000,000	39,000,000	88,000,000	39,000,000	88,000,000
net income/																			29,500,000	118,000,000
net income/(loss) — attributable to anglogold ashanti																			20,500,000	82,000,000
income/
non-hedge derivative loss																					409,000,000	1,452,000,000		1,452,000,000	258,000,000	258,000,000
income from continuing operations before income tax and equity income in affiliates																					94,000,000		94,000,000	-898,000,000		-373,000,000
ordinary shares – diluted																					2		2
e ordinary shares – diluted																					1		1
e ordinary shares – basic and diluted																					3,483,676		3,483,676
costs and expenses																						4,852,000,000
loss/(profit) on sale of assets, realization of loans, indirect taxes and other																						10,000,000
other operating items																									19,000,000	19,000,000
loss from continuing operations before income tax and equity income in affiliates																						-898,000,000
taxation benefit																						33,000,000		33,000,000
net income from continuing operations																						-777,000,000		-777,000,000		-544,000,000
net loss — attributable to anglogold ashanti																						-825,000,000
loss from continuing operations																						-825,000,000
earnings per share attributable to anglogold ashanti common stockholders:
from continuing operations
dividend paid per ordinary share																						13
dividend paid per e ordinary share																						7
non-hedge derivative loss/																							409,000,000
market development cost																								10,000,000	13,000,000	13,000,000
loss on sale of assets, realization of loans, indirect taxes and other																								10,000,000
net income attributable to noncontrolling interests																								-48,000,000	-42,000,000	-42,000,000
net income — attributable to common stakeholders																								-825,000,000		-563,000,000
income per share attributable to common stockholders:
profit on sale of assets, realization of loans, indirect taxes and other																									-64,000,000	-64,000,000
(loss)/income from continuing operations before income tax and equity income in affiliates																									-373,000,000
equity loss in affiliates																									-149,000,000	-149,000,000
net (loss)/income from continuing operations																									-544,000,000
net (loss)/income — attributable to common stakeholders																									-563,000,000

Balance Sheets:

Quarterly

Annual

Unit: USD	2023-06-30	2023-03-31	2022-06-30	2021-12-31	2021-06-30	2021-03-31	2020-06-30	2020-03-31	2019-06-30	2018-12-31	2018-06-29	2017-03-22	2014-05-19	2013-07-02	2013-06-30	2011-12-02	2011-07-27	2011-06-30	2010-12-31	2010-09-30	2010-09-07	2010-08-11	2009-08-31	2008-12-31

us dollar million
assets
non-current assets
tangible assets	4,277	4,306	4,081	3,460	3,114	2,977	2,658	2,603	3,374	3,381	3,478		4,885
right of use assets	152	154	202	175	163	142	147	136	179
intangible assets	104	104	116	122	127	129	120	109	121	123	131		269
investments in associates and joint ventures	1,129	1,093	1,162	1,647	1,696	1,675	1,644	1,608	1,573	1,528	1,504		1,391
other investments	1	1	18	117	148	128	137	51	136	141	150		141
inventories	4	4	6	27	47	56	80	77	126	106	91		617	1,127,000,000	942,000,000	847,000,000	785,000,000	826,000,000	792,000,000	748,000,000	718,000,000	663,000,000	552,000,000	552,000,000
trade, other receivables and other assets	222	233	218	237	254	256	147	129	119	102	73
reimbursive right for post-retirement benefits	12	12
deferred taxation	146	99	29	7	7	19	83	68			5		169
cash restricted for use	34	34	32	32	32	32	31	31	36	35	34		37
current assets														2,507,000,000	2,197,000,000	2,414,000,000	2,004,000,000	2,182,000,000	1,997,000,000	2,734,000,000	2,471,000,000	2,758,000,000	2,947,000,000	2,947,000,000
cash and cash equivalents	722	813	1,266	1,154	1,081	1,011	1,292	1,870	342	329	215		525	680,000,000	415,000,000	1,075,000,000	619,000,000	839,000,000	575,000,000	1,338,000,000	866,000,000	1,100,000,000	575,000,000	575,000,000
total assets	7,945	7,911	8,219	7,967	7,665	7,396	7,874	8,150	6,907	6,643	6,604		9,678	12,875,000,000	10,178,000,000	10,686,000,000	10,383,000,000	10,761,000,000	10,388,000,000	10,864,000,000	10,269,000,000	10,662,000,000	9,451,000,000	9,451,000,000
equity and liabilities
share capital and premium	7,253	7,250	7,237	7,223	7,221	7,219	7,211	7,209	7,192	7,171	7,157		7,024
accumulated losses and other reserves	-3,205	-3,171	-2,994	-3,214	-3,406	-3,579	-4,199	-4,588			-4,552		-3,884
shareholders’ equity	4,048	4,079	4,243		3,815								3,140
non-controlling interests	33	36	30	52	47	51	36	38	32	42	36		35
total equity	4,081	4,115	4,273	4,061	3,862	3,691	3,048	2,659	2,780	2,694	2,641		3,175
non-current liabilities
borrowings	1,896	1,921	1,953	1,858	1,726	1,790	2,592	2,741	1,324	1,911	2,004		3,569
lease liabilities	106	103	138	124	124	115	119	107	145
environmental rehabilitation and other provisions	611	614	671	729	715	686	721	728	872	827	868		1,013
provision for pension and post-retirement benefits	68	70	75		85
trade, other payables and provisions	8	6	6	7	7	5	6	6
current liabilities														1,710,000,000	2,313,000,000	952,000,000	925,000,000	842,000,000	1,004,000,000	1,963,000,000	3,195,000,000	4,475,000,000	3,445,000,000	3,445,000,000
environmental rehabilitation provisions	72	41
taxation	19	21	16	39	35	71	105	73	43	60	36		67
bank overdraft	5	3											22		31,000,000
total liabilities	3,864	3,796	3,946	3,906	3,803	3,705	4,826	5,491	4,127	3,949	3,963		6,503
total equity and liabilities	7,945	7,911	8,219	7,967	7,665	7,396	7,874	8,150	6,907	6,643	6,604		9,678
shareholders for dividends		1				2
shareholders' equity				4,009		3,640	3,012	2,621	2,748	2,652	2,605
benefit from pension and post-retirement benefits				77		83	79	78	102	100	111		152
assets held for sale							546	522							130,000,000	1,000,000	2,000,000	2,000,000	16,000,000	1,000,000	72,000,000	74,000,000	782,000,000	782,000,000
liabilities held for sale							263	234							55,000,000				3,000,000		10,000,000	9,000,000	42,000,000	42,000,000
trade, other payables and deferred income									4	3	2		14
trade, other payables, deferred income and provisions									564	594	536
non-current assets held for sale													158
non-current liabilities held for sale													59
non current assets held for sale
non current liabilities held for sale
1.2
2.
2.1
2.2
2.3
2.4
2.5
3.
4.
4.1
4.2
5.
5.1
5.2
5.3
6.
i.
ii.
7.
7.1
7.2
7.3
7.4
7.5
7.6
7.7
7.8
8.
8.1
8.2
8.3
8.4
8.5
9.
9.1
9.2
9.3
9.4
9.5
9.6
10.
10.1
10.2
10.3
10.4
10.5
10.6
10.7
10.8
11.
11.1
11.2
11.3
11.4
12.
12.2
12.3
13.
13.1
13.2
13.3
14.
15.
15.1
15.2
16.
16.1
16.2
16.3
16.4
16.5
16.6
16.7
16.9
16.10
16.11
16.12
16.13
16.14
16.15
16.16
16.17
16.18
17.
17.1
17.2
17.3
17.4
17.5
17.6
17.7
17.8
17.9
a.
b.
c.
17.10
17.11
17.12
17.13
17.14
17.15
17.16
17.17
17.18
17.19
17.20
17.21
18.
18.1
18.2
18.3
18.4
18.5
18.6
18.7
18.8
18.9
18.10
18.11
18.12
18.13
18.14
18.15
19.
19.1
19.2
19.3
19.5
19.6
19.11
19.12
19.13
19.14
19.16
19.17
19.18
19.19
20.
20.1
20.2
20.3
20.4
20.5
21.
21.1
21.2
22.
23.
23.1
23.2
24.
24.1
24.2
24.3
25.
25.1
25.3
25.4
25.5
25.6
26.
26.1
26.2
26.3
26.4
26.5
26.6
26.7
26.8
26.9
26.10
26.11
27.
28.
29.
29.1
29.3
30.
31.
32.
32.1
32.2
32.3
address:												76
fax:												2,786
telephone:												2,711
e-mail:
for the attention of:
32.4
33.
34.
34.1
34.2
34.3
36.
37.
banks
nedbank limited
absa bank limited
total commitments
1.
the mandatory cost is to compensate a bank for the cost of compliance with the requirements of the south african reserve bank.
the mandatory cost is expressed as a percentage rate per annum.
the mandatory cost is the weighted-average (weighted in proportion to the percentage share of each bank in the relevant loan) of the rates for the banks calculated by the agent in accordance with this schedule on the first day of an interest period (or as soon as possible after then).
the agent must distribute each amount of mandatory cost among the banks on the basis of the rate for each bank or reference bank.
any determination by the agent pursuant to this schedule will be, in the absence of manifest error, conclusive and binding on all the parties.
the relevant rate for a bank lending from a facility office in south africa is the percentage rate per annum notified by that bank to the agent. this percentage rate per annum must be certified by that bank in its notice to the agent as its reasonable determination of the cost (expressed as a percentage of that bank’s share in all loans made from that facility office) of complying with the minimum reserve requirements of the south african reserve bank (as applicable) in respect of loans made from that facility office.
if a bank fails to specify a rate under paragraph (a) above, the agent will assume that the bank has not incurred any such cost.
to:
from:
date:
dated:
[existing bank]
by:
where any discharge (whether in respect of the obligations of the borrower or any security for those obligations or otherwise) is made in whole or in part or any arrangement is made on the faith of any payment, security or other disposition which is avoided or must be restored on insolvency, liquidation or otherwise without limitation, the liability of the other borrower under this agreement shall continue as if the discharge or arrangement had not occurred.
name of director
borrower
anglogold ashanti limited
title:
/s/ christine ramon
/s/ desigan soobramoney
/s/ anthony sam
agent
/s/ charmaine pillay
trade and other receivables													25
other non-current assets													50
derivatives														1,000,000			3,000,000		1,000,000	65,000,000	150,000,000	330,000,000	571,000,000	571,000,000
rounding of figures may result in computational discrepancies.
restricted cash														34,000,000	34,000,000	38,000,000	18,000,000	31,000,000	10,000,000	12,000,000	14,000,000	12,000,000	44,000,000	44,000,000
receivables														475,000,000	477,000,000	280,000,000	331,000,000	299,000,000	298,000,000	229,000,000	209,000,000	206,000,000	224,000,000	224,000,000
trade														93,000,000	43,000,000	54,000,000	75,000,000	77,000,000	53,000,000	53,000,000	45,000,000	45,000,000	39,000,000	39,000,000
recoverable taxes, rebates, levies and duties														231,000,000	264,000,000	114,000,000	161,000,000	101,000,000	156,000,000	74,000,000	63,000,000	82,000,000	64,000,000	64,000,000
other														151,000,000	170,000,000	111,000,000	92,000,000	119,000,000	86,000,000	98,000,000	98,000,000	74,000,000	117,000,000	117,000,000
materials on the leach pad														128,000,000	131,000,000	97,000,000	92,000,000	93,000,000	91,000,000	83,000,000	73,000,000	40,000,000	49,000,000	49,000,000
deferred taxation assets														63,000,000	68,000,000	76,000,000	154,000,000	92,000,000	214,000,000	258,000,000	369,000,000	333,000,000	150,000,000	150,000,000
property, plant and equipment														7,176,000,000	5,520,000,000	5,811,000,000	5,896,000,000	6,040,000,000	5,926,000,000	5,687,000,000	5,420,000,000	5,454,000,000	4,765,000,000	4,765,000,000
acquired properties														733,000,000	136,000,000	781,000,000	825,000,000	820,000,000	836,000,000	829,000,000	815,000,000	831,000,000	814,000,000	814,000,000
goodwill and other intangibles														312,000,000	266,000,000	194,000,000	199,000,000	204,000,000		189,000,000	170,000,000
other long-term inventory														190,000,000	118,000,000	54,000,000	25,000,000	75,000,000	27,000,000	26,000,000	23,000,000	26,000,000	40,000,000	40,000,000
other long-term assets														1,440,000,000	1,350,000,000	1,029,000,000	1,084,000,000	1,081,000,000	1,073,000,000	1,084,000,000	1,043,000,000	1,022,000,000
liabilities and equity
accounts payable and other current liabilities														951,000,000	885,000,000	740,000,000	710,000,000	727,000,000		611,000,000	556,000,000
short-term debt														214,000,000	1,014,000,000	45,000,000	44,000,000	28,000,000	135,000,000	268,000,000	24,000,000	1,292,000,000	1,067,000,000	1,067,000,000
short-term debt at fair value														448,000,000	270,000,000	2,000,000	2,000,000	2,000,000
tax payable														97,000,000	58,000,000	165,000,000	169,000,000	85,000,000	134,000,000	33,000,000	30,000,000	42,000,000	28,000,000	28,000,000
other non-current liabilities														330,000,000	300,000,000	66,000,000	68,000,000	81,000,000	69,000,000	58,000,000	170,000,000	163,000,000	117,000,000	117,000,000
long-term debt														2,870,000,000	2,233,000,000	1,688,000,000	1,684,000,000	1,690,000,000	1,730,000,000	2,517,000,000	1,668,000,000	667,000,000	873,000,000	873,000,000
deferred taxation liabilities														1,123,000,000	867,000,000	1,152,000,000	1,198,000,000	1,238,000,000	1,200,000,000	1,169,000,000	1,145,000,000	1,171,000,000	1,008,000,000	1,008,000,000
benefit from environmental rehabilitation														735,000,000	720,000,000			576,000,000		418,000,000				302,000,000
benefit from labor, civil, compensation claims and settlements														29,000,000	28,000,000			40,000,000		32,000,000				31,000,000
benefit from pension and other post-retirement medical benefits														194,000,000	153,000,000			177,000,000		158,000,000				139,000,000
commitments and contingencies
equity														5,883,000,000	3,564,000,000	5,248,000,000	4,750,000,000	5,249,000,000	4,589,000,000	4,413,000,000	3,413,000,000	3,445,000,000	3,406,000,000	3,406,000,000
common stock
share capital - 600,000,000														13,000,000	13,000,000			13,000,000		13,000,000	12,000,000	12,000,000
additional paid in capital														8,814,000,000	8,824,000,000	8,717,000,000	8,685,000,000	8,710,000,000	8,670,000,000	8,653,000,000	7,866,000,000	7,836,000,000	7,502,000,000	7,502,000,000
accumulated deficit														-1,912,000,000	-4,016,000,000	-2,770,000,000	-3,675,000,000	-3,209,000,000	-3,869,000,000	-3,899,000,000	-3,945,000,000	-3,914,000,000	-3,044,000,000	-3,044,000,000
accumulated other comprehensive income														-1,089,000,000	-1,286,000,000	-884,000,000	-438,000,000	-437,000,000	-385,000,000	-520,000,000	-679,000,000	-654,000,000	-1,148,000,000	-1,148,000,000
other reserves														36,000,000	36,000,000	36,000,000	37,000,000	36,000,000	37,000,000	37,000,000	36,000,000	37,000,000
total anglogold ashanti stockholders’ equity														5,862,000,000	3,571,000,000	5,112,000,000	4,622,000,000	5,113,000,000	4,466,000,000	4,284,000,000	3,290,000,000	3,317,000,000
noncontrolling interests														21,000,000	-7,000,000	136,000,000	128,000,000	136,000,000	123,000,000	129,000,000	123,000,000	128,000,000
total liabilities and equity														12,875,000,000	10,178,000,000	10,686,000,000	10,383,000,000	10,761,000,000	10,388,000,000	10,864,000,000	10,269,000,000		9,451,000,000	9,451,000,000
related parties																1,000,000	3,000,000	2,000,000	3,000,000	4,000,000	3,000,000	5,000,000	4,000,000	4,000,000
long-term debt at fair value																769,000,000	847,000,000	780,000,000	872,000,000
provision for environmental rehabilitation																546,000,000	529,000,000		530,000,000		393,000,000	385,000,000	302,000,000
provision for labor, civil, compensation claims and settlements																33,000,000	44,000,000		38,000,000		29,000,000	33,000,000	31,000,000
provision for pension and other post-retirement medical benefits																154,000,000	176,000,000		180,000,000		144,000,000	147,000,000	139,000,000
share capital—600,000,000																13,000,000
share capital — 600,000,000																	13,000,000		13,000,000
goodwill																			180,000,000			162,000,000	132,000,000	132,000,000
other intangibles																			17,000,000			18,000,000	20,000,000	20,000,000
trade accounts payable																			404,000,000			340,000,000	314,000,000	314,000,000
payroll and related benefits																			175,000,000			147,000,000	92,000,000	92,000,000
other current liabilities																			153,000,000			120,000,000	144,000,000	144,000,000
the accompanying notes are an integral part of these consolidated financial statements.
other long term assets																							421,000,000	421,000,000
liabilities and stockholders’ equity
400,000,000 authorized common stock of 25 zar cents each
stock issued in 2008 - 353,483,410 shares																							12,000,000	12,000,000
total stockholders’ equity																							3,322,000,000	3,322,000,000
noncontrolling interest																							84,000,000	84,000,000

Cashflow Statements:

Quarterly

Annual

Unit: USD	2023-06-30	2023-03-31	2022-06-30	2021-06-30

us dollar million
cash flows from operating activities
cash generated from operations	316	92	530	614
dividends received from joint ventures	37	37	549	71
taxation refund				7
taxation paid	-60	-35	-87	-225
net cash inflow (outflow) from operating activities	293	94	992	467
cash flows from investing activities
capital expenditure
free cash flows
interest capitalised and paid			-1	-9
acquisition of assets			-365
dividends from associates and other investments	6
proceeds from disposal of tangible assets	6	1		2
other investments and assets acquired			-16	-5
loans advanced	-1			-10
decrease in cash restricted for use	-1		-10	13
interest received	49	25	32	29
net cash inflow (outflow) from investing activities	-394	-204	-786	-395
cash flows from financing activities
proceeds from borrowings	8	5	202	7
repayment of borrowings	-74	-50	-96	-7
repayment of lease liabilities	-44	-22	-40	-30
finance costs - borrowings	-56		-49	-49
finance costs - leases	-5		-5	-5
other borrowing costs	-1		-11
dividends paid	-76	-75	-69	-207
net cash inflow (outflow) from financing activities	-248	-166	-68	-291
net increase in cash and cash equivalents	-349	-276	138	-219
translation	-40	-20	-26	-30
cash and cash equivalents at beginning of period	1,106	1,106	1,154	1,330
cash and cash equivalents at end of period	717	810	1,266	1,081
finance costs – borrowings		-22
finance costs – leases
receipts from customers			2,150	1,977
payments to suppliers and employees			-1,620	-1,363
acquisition of intangible assets
dividends from other investments			8	12
proceeds from disposal of joint ventures				2
net cash inflow from operating activities from continuing operations
net cash inflow from operating activities from discontinued operations
net cash inflow from operating activities
proceeds from disposal of other investments
loans repaid by associates and joint ventures
proceeds on disposal of discontinued assets and subsidiaries
recognition of joint operation - cash
decrease (increase) in cash restricted for use
net cash outflow from investing activities from continuing operations
net cash outflow from investing activities from discontinued operations
cash in subsidiaries sold and transferred to held for sale
net cash outflow from investing activities
net cash outflow from financing activities from continuing operations
net cash inflow (outflow) from financing activities from discontinued operations
net cash outflow from financing activities
net cash inflow (outflow) from operating activities from continuing operations				467
net cash inflow (outflow) from operating activities from discontinued operations
net cash inflow (outflow) from investing activities from continuing operations				-395
net cash inflow (outflow) from investing activities from discontinued operations
net cash inflow (outflow) from financing activities from continuing operations				-291
other investments acquired
investments in associates and joint ventures
loans advanced to associates and joint ventures
increase in cash restricted for use
cash payment to settle the sale of environmental trust fund
finance costs paid
lease finance costs paid
bond settlement premium, rcf and bond transaction costs
operating review
gold
produced
sold
produced from retained operations
financial review
gold income
cost of sales
total cash costs
gross profit
price received *
all-in sustaining costs *
all-in costs *
total cash costs *
profit attributable to equity shareholders
- cents/share
headline earnings
adjusted headline earnings *
net cash flow from operating activities
free cash inflow (outflow) *
total borrowings
net debt *
notes: * refer to "non-gaap disclosure" for definition.
operations at a glance
for the six months ended 30 june 2018
production
oz
south africa
vaal river operations
kopanang
moab khotsong
west wits operations
mponeng
tautona
total surface operations
international operations
continental africa
drc
kibali - attr. 45% 4
ghana
iduapriem
obuasi
guinea
siguiri - attr. 85%
mali
morila - attr. 40% 4
sadiola - attr. 41% 4
tanzania
geita
non-controlling interests, exploration and other
australasia
australia
sunrise dam
tropicana - attr. 70%
exploration and other
americas
argentina
cerro vanguardia - attr. 92.50%
brazil
anglogold ashanti mineração
serra grande
total
other
equity accounted investments included above
anglogold ashanti
1 refer to note c under "non-gaap disclosure" for definition.
2 refer to note d under "non-gaap disclosure" for definition.
3 variance june 2018 six months on june 2017 six months - increase.
4 equity accounted joint ventures.
price received 1
all-in sustaining cost 2
total cash costs 3
production costs 4
headline earnings 5
dividends per ordinary share
net cash from operating activities
net (loss)/income
reconciled to net cash from operations:
loss on sale of assets, realization of loans, indirect taxes and other
depreciation, depletion and amortization
impairment of assets
deferred taxation
movement in non-hedge derivatives and bonds
equity loss/(income) in associates
dividends received from associates
other non cash items
net (decrease)/increase in benefit from environmental rehabilitation, pension and other post-retirement medical benefits
effect of changes in operating working capital items:
receivables
inventories
accounts payable and other current liabilities
net cash from investing activities
available for sale investments acquired
held to maturity investments acquired
contributions to associates and equity accounted joint ventures
additions to property, plant and equipment
interest capitalized and paid
expenditure on intangible assets
proceeds on sale of mining assets
proceeds on sale of available for sale investments
proceeds on redemption of held to maturity investments
proceeds on disposal of associates and equity accounted joint ventures
proceeds on disposal of subsidiary
loans advanced to associates and equity accounted joint ventures
loans repaid by associates and equity accounted joint ventures
change in restricted cash
net cash generated/(used) by financing activities
repayments of debt
issuance of stock
proceeds from debt
debt issue costs
acquisition of noncontrolling interest
dividends paid to common stockholders
dividends paid to noncontrolling interests
net decrease in cash and cash equivalents
effect of exchange rate changes on cash
cash and cash equivalents - january 1,
cash and cash equivalents - june 30,
net income
equity income in associates
net increase in benefit from environmental rehabilitation, pension and other post-retirement medical benefits
increase in non-current investments
proceeds on sale of investments
proceeds on sale of associate
cash inflows from derivatives purchased
loans receivable advanced
loans receivable repaid
cash of subsidiary disposed
net cash used by financing activities
cash outflows from derivatives with financing
net increase/(decrease) in cash and cash equivalents
cash and cash equivalents — january 1,
cash and cash equivalents — june 30,
net cash provided by/(used) in operating activities
net income/
reconciled to net cash provided by/(used)in operations:
loss/(profit) on sale of assets, realization of loans, indirect taxes and other
cash utilized for hedge book settlements
equity income in affiliates
dividends received from affiliates
net cash (used)/generated in investing activities
cash outflows from derivatives purchased
net cash generated by financing activities
net repayments of debt
share issue expenses
net proceeds from debt
cash (outflows)/inflows from derivatives with financing
cash and cash equivalents — september 30,

AngloGold Ashanti Limited(NYSE:AU)

AngloGold Ashanti Limited
(NYSE:AU)