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Our history

Today, AngloGold Ashanti is one of the largest gold mining companies in the world. It remains an independent gold producer, with no dominant investor and a diverse spread of shareholders that includes the world’s largest financial institutions.


AngloGold Limited was formed in June 1998 through the consolidation of the gold interests of Anglo American Corporation of South Africa Limited (AAC) and its associated companies, namely East Rand Gold and Uranium Company Limited; Eastvaal Gold Holdings Limited; Southvaal Holdings Limited; Free State Consolidated Gold Mines Limited; Elandsrand Gold Mining Company Limited; H.J. Joel Gold Mining Company Limited and Western Deep Levels Limited into a single, focused, independent, gold company. Vaal Reefs Exploration and Mining Company Limited (Vaal Reefs), the vehicle for the consolidation, changed its name to AngloGold Limited and increased its authorised share capital, effective 30 March 1998. AngloGold acquired minority shareholders interest in Driefontein Consolidated Limited (17%); Anmercosa Mining (West Africa) Limited (100%); Western Ultra Deep Levels Limited (89%); Eastern Gold Holdings Limited (52%); Erongo Mining and Exploration Company Limited (70%).


AngloGold acquired a non-controlling shareholders interest in Driefontein Consolidated Limited (17%); Anmercosa Mining (West Africa) Limited (100%); Western Ultra Deep Levels Limited (89%); Eastern Gold Holdings Limited (52%); Erongo Mining and Exploration Company Limited (70%). It also purchased Minorco’s gold interests in North and South America and acquired Acacia Resources in Australia.


AngloGold acquired a 40% interest in the Morila mine in Mali from Randgold Resources Limited; a 50% interest in the Geita mine in Tanzania from Ashanti Goldfields Company Limited (Ashanti); a 25% interest in OroAfrica, South Africa’s largest manufacturer of gold jewellery; and a 33% holding in Gold Avenue, an e-commerce business in gold.


AngloGold sold the Elandsrand and Deelkraal mines to Harmony Gold Mining Company Limited (Harmony); disposed of its interests in No.2 Shaft Vaal River Operations to African Rainbow Minerals (ARM) and made an unsuccessful take-over bid for Normandy Mining Limited.


AngloGold sold the Free State assets to African Rainbow Minerals (ARM) and Harmony Gold. It acquired an additional 46.25% of the equity, as well as the total loan assignment, of Cerro Vanguardia SA from Pérez Companc International SA, thereby increasing its interest in Cerro Vanguardia to 92.5%. AngloGold disposed of its wholly owned subsidiary, Stone and Allied Industries (O.F.S.) Limited.


During 2003 the following corporate activities took place: AngloGold disposed of its wholly owned Amapari project to Mineração Pedra Branca do Amapari. AngloGold finalised the sale of its 49% stake in the Gawler Craton Joint Venture, including the Tunkillia project located in South Australia to Helix Resources Limited. It concluded the sale of its interest in the Jerritt Canyon Joint Venture to Queenstake Resources USA Inc and disposed of its entire investments in East African Gold Mines Limited and in Randgold Resources Limited. AngloGold purchased a portion of the Driefontein mining area in South Africa from Gold Fields Limited.


AngloGold sold its Western Tanami project to Tanami Gold NL in Australia. The business combination between AngloGold and Ashanti Goldfields Company Limited was completed, resulting in the company changing its name to AngloGold Ashanti Limited. AngloGold Holdings plc, a subsidiary of AngloGold, completed an offering of $1 billion principal amount 2,375% convertible bonds, due 2009 and guaranteed by AngloGold Ashanti. AngloGold Ashanti acquired a 29.8% stake in Trans-Siberian Gold plc (TSG). AngloGold Ashanti sold its Union Reefs assets to the Burnside Joint Venture, comprising subsidiaries of Northern Gold NL (50%) and Harmony (50%) AngloGold Ashanti disposed of its entire interest in Ashanti Goldfields Zimbabwe Limited to Mwana Africa Holdings (Proprietary) Limited. AngloGold Ashanti subscribed for a 12.3% stake in the expanded issued capital of Philippines explorer Red 5 Limited. AngloGold Ashanti sold its 40% equity interest in Tameng Mining and Exploration (Pty) Limited of South Africa (Tameng) to Mahube Mining (Pty) Limited.


AngloGold Ashanti completed a substantial restructuring of its hedge book in January 2005. It signed a three-year $700 million revolving credit facility and sold exploration assets in the Laverton area in Australia. Aflease Gold and Uranium Resources Limited purchased the Weltevreden mine from AngloGold Ashanti. AngloGold Ashanti disposed of its La Rescatada project to ARUNANI SAC, a local Peruvian corporation, with an option to repurchase 60% of the project should economically viable reserves in excess of 2 million ounces be identified within three years. It acquired an effective 8.7% stake in China explorer, Dynasty Gold Corporation.


AngloGold Ashanti raised $500 million in an equity offering. AngloGold Ashanti acquired two exploration companies, namely Amikan and AS APK from TSG as part of AngloGold Ashanti’s initial contribution towards its strategic alliance with Polymetal. AngloGold Ashanti and B2Gold (formerly Bema Gold) formed a new company to jointly explore a select group of AngloGold Ashanti’s mineral opportunities located in northern Colombia, South America. AngloGold Ashanti (U.S.A.) Exploration Inc, International Tower Hill Mines Ltd (ITH) and Talon Gold Alaska, Inc. (Talon), a wholly owned subsidiary of ITH, entered into an Asset Purchase and Sale and Indemnity Agreement whereby AngloGold Ashanti sold to Talon a 100% interest in six Alaskan mineral exploration properties and associated databases in return for an approximate 20% interest in ITH. AngloGold Ashanti signed a Heads of Agreement with Antofagasta plc to jointly explore a highly prospective belt in Southern Colombia for new gold and copper deposits. Both AngloGold Ashanti and Antofagasta will have the right to increase their interests by 20% in copper-dominant and gold dominant properties subject to certain conditions. AngloGold Ashanti disposed of its entire business undertaking, related to the Bibiani mine and Bibiani North prospecting permit to Central African Gold plc. AngloGold Ashanti entered into a 50:50 strategic alliance with Russian gold and silver producer, OAO Inter-Regional Research and Production Association Polymetal (Polymetal), in terms of which Polymetal and AngloGold Ashanti would co-operate in exploration and the acquisition and development of gold mining opportunities within the Russian Federation. AngloGold Ashanti implemented an empowerment transaction with two components: the development of an employee share ownership plan (ESOP) and the acquisition by Izingwe Holdings (Proprietary) Limited (an empowerment company) of an equity interest in AngloGold Ashanti.


On 8 June 2007, AngloGold Ashanti announced that it would sell, subject to certain conditions, to a consortium of Mintails South Africa (Pty) Limited / DRD South African Operations (Pty) Limited Joint Venture most of the remaining moveable and immovable assets of Ergo, the surface reclamation operation east of Johannesburg, discontinued in March 2005. The site was being rehabilitated by AngloGold Ashanti. The joint venture operated, for its own account, under the AngloGold Ashanti authorisations until new order mining rights have been obtained and transferred to the joint venture. A specific exclusion from the sale to the joint venture, was the Brakpan Tailings Storage Facility which would continue to be rehabilitated by AngloGold Ashanti. The company completed the acquisition of minority interests previously held by the Government of Ghana (5%) and the International Finance Corporation (10%) in the Iduapriem and Teberebie mine effective 1 September 2007 for a total cash consideration of $25 million. Iduapriem and Teberebie are now wholly owned by AngloGold Ashanti.


During this period, AngloGold Ashanti acquired 100% Golden cycle, owning 100% of CC&V in July 2008 ($103m), and acquired 100% of São Bento for $70 million (Dec 2008). It sold Nufcor International Limited for $50m to increase exposure to uranium prices. In 2009, Anglo American Plc sold its last remaining shares in AngloGold Ashanti in March, AngloGold Ashanti then sold 33.33% Boddington stake to Newmont for approximately $1.1bn, completed in June,  and acquired 45% interest in Moto JV ($300m; Oct 2009). AngloGold Ashanti in 2010 sold Tau Lekoa to Simmer & Jack Mines limited for approximately $64m (Jan); sold 10.17% B2Gold stake for C$70m in November; and sold Ayanfuri royalty for $35m. AngloGold Ashanti acquired 50% interest in MSG for $220m (June 2012) and 100% MWS for $350m (July 2012). In February 2014, it sold Navachab mine in Namibia to a wholly-owned subsidiary of QKR Corporation Limited in, with the full transaction completed in July 2014.


AngloGold Ashanti sold the Cripple Creek & Victor mine in the United States to Newmont Mining Corporation for $820m in cash, plus a net smelter return royalty.


AngloGold Ashanti sold the Vaal River assets which included the Kopanang and Moab Khotsong mines as well as AngloGold Ashanti’s entire interests in Nuclear Fuels Corporation of South Africa Proprietary Limited (“Nufcor”) and in the Margaret Water Company. The TauTona mine (including the Savuka section) was put into orderly closure.


The Obuasi gold mine achieved its first pour, signalling the successful start of its redevelopment into a modern, mechanised mining operation since mining activities were suspended in 2016.


AngloGold Ashanti completed another step in its strategy to streamline its portfolio with the sale of its remaining mines in South Africa. On 30 September, the sale of Mponeng underground mine, a surface rock dump processing business, and a mine waste retreatment operation, Mine Waste Solutions, was concluded and sold to Harmony Gold Mining Company Limited. On 31 December 2020, the sale of the Sadiola mine in Mali to Allied Gold Corp was completed. This followed the announcement of the sale of the Morila operation to Firefinch Limited on 31 August 2020.


In April 2021, IGO sold its 30% interest in the Tropicana Joint Venture to Regis for A$903 million.


The acquisition of Corvus Gold Inc. was completed on 18 January 2022. In October 2022, a target was set to reduce Scope 1 & 2 GHG emissions by 30% by 2030 (2021 baseline).


AngloGold Ashanti plc completed its corporate restructuring on 25 September 2023 with a primary listing of its ordinary shares on the New York Stock Exchange (NYSE) and a corporate domicile in the UK.