Sustainability reporting is a relatively new phenomenon in the corporate world. AngloGold?s first such report ? Towards sustainability: A social investment report 2001/2 ? was published in October 2002. This is the second. It is titled, we believe more appropriately, a Report to Society, and is, in many respects, very different from the first in presentation and content.

This report seeks, as did the first, to explain and assess the economic, social and environmental responsibilities and performance obligations the company believes it has with regard to its stakeholders, who include our shareholders, our employees, their families, employee representatives, the communities in which we operate and government. We seek to measure our performance in these areas against our declared principles, goals and objectives: which are to run a business that is profitable; manage workplaces that are safe and healthy; ensure that the environments in which we operate are ecologically sound and sustainable; and ensure that communities within which we operate are better off for AngloGold being there.

For the first time, the Report to Society is published together with the annual financial statements containing full, statutory and other information on the company?s financial results for 2003 and reports on operations, the market in which we operate and corporate governance. As such, this package of information truly represents a comprehensive report to society as a whole. Also for the first time, aspects of the AngloGold Report to Society have been audited, or reviewed according to specified criteria described elsewhere in this report. This is a discipline still in its infancy internationally. It has been a useful and enlightening exercise for us and, we hope, for the PricewaterhouseCoopers team with which we have worked. We hope it enhances the credibility of our report and we hope that, in the years ahead, as our reporting techniques and experience advance, our reporting will be audited with increasing levels of rigour.

None of this is unprecedented in the world of corporate reporting. However, it is unique in certain important ways. What we have sought to do is to produce, even create, a report that is useful, informative and, most importantly, accessible to the broadest range of interested readers.

This is not the usual multi-leaved, glossily textured sustainability report which, anecdotal evidence suggests, usually lies around for a few days before being despatched, unread, to the wastebasket ? usually because the bulky document contains a wide range of information, much of which is of little interest to the average reader/stakeholder and that which may be of interest seems too difficult to find.

Instead, we have produced an electronic, web-based report where selected aspects that may be of interest to any particular reader are easily accessible, and distinguishable from those which are not.

The report is structured, primarily, to reflect AngloGold?s business principles. Hence, it is divided into a number of disciplines: economic performance; environmental performance; labour practices; AngloGold in the community; industrial safety; industrial health; and HIV/AIDS ? the latter considered to be a sufficiently critical business and social issue in many areas of AngloGold?s operations to be deserving of separate assessment.

Within this structure, under each discipline will be found AngloGold?s related business principles, key indicators, milestones of 2003, a fuller review of 2003, objectives for 2004, and reporting in terms of the relevant questions of the Global Reporting Initiative (GRI), which appears to have become the closest thing there is to a universal framework for sustainability reporting. In addition, under each section will be found a range of case studies; usually at least one for each of the regions in which we operate ? South Africa, East and West Africa, Australia, South America and North America.

To improve accessibility, information in the report can be accessed according to any one of three criteria: by discipline; by region; or by GRI format. Hence, we hope, the report will be as useful to an environmentalist or industrial health specialist as it will be to an ordinary resident or the mayor of a village in Mali or Brazil, or a trade unionist with an interest either in their own country or internationally, or a cabinet minister in any country in which we operate. Once accessed according to the desired criterion, the relevant section can be electronically downloaded, or printed in colour or black and white.

There is much in what we do, and about which we have written of which we are proud ? our HIV/AIDS programmes in South Africa and elsewhere are a case in point. But we are also the first to recognise there are areas where our performance has been less than optimal, such as mine safety, particularly in our deep level mining operations. We have sought to be as honest and objective as possible in describing both, and where our performance does not measure up to the standards we have set ourselves, have sought to outline what we are doing to change that. And we accept we should expect to be judged in the year and years ahead by the extent to which we have moved closer to fulfilling the principles which, we believe, give us the moral licence to continue conducting our business.

Bobby Godsell
Chief Executive Officer
15 March 2004