Exploration

Our greenfields exploration programmes are designed to discover new Mineral Resource that will ultimately lead to the development of new, stand-alone gold mines and support the sustainability of our business.

Our exploration covers greenfields and brownfields exploration programmes to support sustainability and growth of our business. Greenfields exploration aims to discover large, high-value Mineral Resources that will eventually lead to the development of new gold mines.

Greenfield exploration

In 2023, $40.8m was spent on greenfields exploration. Our greenfields exploration tenements cover over 12,400km² of highly prospective ground in five countries: Australia, Argentina, Brazil, Tanzania, and the United States.

Brownfield exploration

Brownfields exploration focuses on delivering value through accretive additions at existing mines, as well as driving development of future mines at our advanced projects.

In 2023, our brownfield exploration teams at operations across the globe completed 558km of capital and 291km of expensed drilling at a total cost of $82.8m and $65.3m, respectively. These costs are attributable to AngloGold Ashanti and include the Kibali JV, as well as Córrego do Sítio (CdS), which was placed on care and maintenance in August 2023.

Additionally, 129km of drilling was completed at the Nevada projects for a total cost of $73.9m, principally at the Merlin deposit of the Expanded Silicon project. This has delivered exceptional results and supported the declaration of a significant first time 9.1Moz Inferred Mineral Resource, as well as further definition and expansion of the mineralisation.

For more detail on our exploration programmes and related outlook, see the 2023 Annual Report: Exploration and planning for the future, P45