Investment case

As one of the world’s largest gold producers, AngloGold Ashanti has a significant asset base, with detailed strategic plans and an investment programme underway aimed at establishing an Ore Reserve pipeline and growing production in the long term.

We are working to regain cost competitiveness with our peer group through the optimisation of our operating assets and by introducing new, lower cost production sources to our portfolio

A well-defined, disciplined and shareholder-focused capital allocation framework is supported by significant cash-flow generating ability, a strong balance sheet and our firm intention to return value to shareholders

Our self-generated and self-funded project pipeline, supported by medium and long-term production plans, is complemented by our proven track record of replenishing and increasing our Mineral Reserve. We aim to achieve value-accretive growth

Our ESG focus is embedded in our decision-making and in the way we work and act. It informs our plans and actions from the initial exploration, to project development and the start of mining operations, throughout the productive life of our mining assets and through to closure. Sustainability and ESG are an essential part of our business, strategy, activities and processes, driving long-term value creation and underpinning our social licence to operate

As a responsible gold miner, we aim to create long-term value for all our stakeholders in partnership with host communities and governments

2023 – a snapshot

Produced 2.635Moz of gold, our principal  product, and 4.4Moz of silver as a by-product (2022: 2.742Moz of gold; 3.6Moz of silver)
Employed an average of 33,658 people  (including contractors) (2022: 32,594 people)
At 31 December 2023:
- Reported a total gold Measured and Indicated Mineral Resource of 59.9 Moz, a gold Inferred Mineral Resource of 46.4Moz and a total gold Mineral Reserve of 28.1Moz
- Included a gold Measured and Indicated Mineral Resource of 5.4Moz and a gold Inferred Mineral Resource of 11.2Moz for the Beatty District in Nevada
Recorded a market capitalisation of $7.8bn at  31 December 2023 (2022: $8.1bn)
Included in the JSE Top 40 Index, the S&P Global CSA, the FTSE/JSE Responsible Investment Index Series (the FTSE4Good Index), the Responsible Mining Index and the Bloomberg 2023 Gender-Equality Index

Gold produced	2.635Moz
People employed ^{(1) (3) (4)}	33,658 people
Net cash inflow from operating activities^{(2) (3)}	$1,061m
Capital expenditure⁽³⁾	$1,127m
Total Mineral Reserve⁽³⁾	28.07Moz
Total community investment^{(3) (4)}	$18.84m

Average employed, includes contractors
Includes joint ventures but excludes corporate and other costs
Includes projects
Includes corporate and non-gold producing subsidiaries