The group currently has 21 operations around the world as well as an extensive exploration programme under way on five continents. As at 31 December 2009, AngloGold Ashanti’s Ore Reserve totalled 71.4Moz and it employed 63,364 people, including contractors. Gold production for the year totalled 4.60Moz (2008: 4.98Moz), generating $3.8bn in sales revenue. Capital expenditure in 2009 was $1bn.
AngloGold Ashanti’s primary business is to maximise the returns delivered to shareholders throughout the economic cycle, by responsibly and efficiently producing gold.
AngloGold Ashanti strives to ensure its sustainability by:
Exploration: The groups exploration programme, which covers greenfield, brownfield, and more recently, marine exploration, is conducted either directly or in collaboration with partners and in joint ventures. The groups foremost recent greenfield discovery is the La Colosa deposit in Colombia (see map for regions of active greenfield exploration). Brownfield exploration is conducted mainly around existing operations. In October 2009, the group announced the establishment of a joint venture to explore for marine mineral deposits on the continental shelf on a worldwide basis. This complements AngloGold Ashantis existing terrestrial exploration and mining activities.
Operations: In addition to the seven deep-level mines and one surface operation in South Africa, AngloGold Ashanti has surface and underground mining operations in the Americas, Australia and elsewhere on the African continent. In addition to the gold produced, valuable by-products silver, sulphuric acid and uranium are generated in the process of recovering the gold mined at certain operations.
Marketing: Once processed to the doré (unrefined gold bar) stage at AngloGold Ashantis operations, this product is dispatched to various precious metal refineries where the gold is refined to a purity of at least 99.5%, in accordance with the standards of good delivery as determined by London Bullion Market Association. It is then sold to bullion banks or refiners. Gold has been a much sought after source of wealth over the centuries, be it as an investment, a store of value or as jewellery. AngloGold Ashanti campaigns actively to promote demand for gold.
17 US cents
130 SA cents
AngloGold Ashantis primary stock exchange listing is on the JSE in South Africa. The companys ordinary shares are also listed on exchanges in London, Paris and Ghana, as well as being quoted in Brussels, in the form of International Depositary Receipts (IDRs), in New York in the form of American Depositary Shares (ADSs), in Australia in the form of CHESS (Clearing House Electronic Sub-register System) Depositary Interests (CDIs) and in Ghana, in the form of Ghanaian Depository Shares (GhDSs). Each IDR and ADS represent one ordinary share, each CDI represents one-fifth of an ordinary share and 100 GhDSs represent one ordinary share.
As at 31 December 2009, AngloGold Ashanti had 362,240,669 ordinary shares in issue and a market capitalisation of $14.6bn (31 December 2008: $9.8bn).
Since implementing its new business strategy at the end of March 2008, AngloGold Ashanti has conducted significant restructuring of its portfolio and balance sheet. The financial foundation of the company has been strengthened by the marked reduction in debt and significant cuts to the hedge book. Key personnel have been retained to address specific operational requirements, the portfolio has been optimised through the sale and acquisition of assets, decisive remedial action has been taken to bring underperforming mines to account and the exploration programme has been refocused.
These changes put in place the foundation for the company to deliver to the full potential of its employees and its assets and to achieve positive returns on the capital it employs, throughout the economic cycle.
AngloGold Ashanti continues to be guided by its core organisational values, of which safety is the most important.