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Mineral Resource & Ore Reserve

AngloGold Ashanti strives to actively create value by growing its major assets – the Mineral Resource and Ore Reserve.

This drive is based on active, well-defined brownfields and greenfields exploration programmes, innovation in both geological modelling and mine planning, and continual optimisation of the asset portfolio. Ensuring a viable Mineral Resource and Ore Reserve pipeline will enable delivery of sustained value-adding growth in the long term.

For detailed information refer to AngloGold Ashanti's Mineral Resource and Ore reserve report 2020 PDF, 39MB

GOLD

Mineral resource

The AngloGold Ashanti Mineral Resource reduced from 175.6Moz in December 2019 to 124.5Moz in December 2020. This gross annual decrease of 51.1Moz includes depletion of 3.7Moz, and 54.1Moz for the disposal of assets in the South African region and of Sadiola. This was partly offset by additions due to exploration and modelling changes of 2.9Moz, changes in economic assumptions of 3.5Moz and other factors of 0.3Moz.

Mineral Resource – Gold
    Moz
As at 31 December 2019 175.6
Disposal Mponeng (45.6)
Vaal River Surface (2.5)
Mine Waste Solutions (2.1)
West Wits Surface (0.5)
Sadiola (3.2)
Sub-total 121.7
Depletions   (3.7)
Sub-total 118.0
Additions Due to:  
Geita
Exploration success 1.9
Siguiri Gold price and exploration success 1.5
Iduapriem Mineral Resource gold price increase 0.8
Tropicana Gold price and revised underground constraining 0.8
Cerro Vanguardia Gold price and exploration success 0.7
Serra Grande Revised interpretation of Mina III underground 0.6
AGA Mineração Gold price and exploration countered by changes in methodology 0.5
Other Additions less than 0.5Moz 1.1
Sub-total 125.9
Reductions Due to:  
Obuasi Estimation methodology and cost (1.4)
Other Reductions less than 0.5Moz (0.0)
As at 31 December 2020 124.5

Ore reserve

The AngloGold Ashanti Ore Reserve reduced from 43.9Moz in December 2019 to 29.7Moz in December 2020. This gross annual decrease of 14.2Moz includes depletion of 3.4Moz, and disposal of assets in the South African region and Sadiola of 16.7Moz. This is partly offset by additions due to exploration and modelling changes of 4.5Moz, changes in economic assumptions of 1.0Moz and other factors of 0.4Moz.

Ore Reserve – Gold
    Moz
As at 31 December 2019 43.9
Disposal Mponeng (11.0)
Vaal River Surface (2.1)
Mine Waste Solutions (1.9)
West Wits Surface (0.2)
Sadiola (1.6)
Sub-total 27.1
Depletions   (3.4)
Sub-total 23.7
Additions Due to:  
Obuasi Updated Mineral Resource models based on new exploration results 1.8
Geita Exploration success at Nyamulilima and the completion of an economic study to start up this new open pit 1.4
Kibali Exploration success 0.5
Iduapriem Increased Ore Reserve price and operational improvements 0.5
AGA Mineração Exploration and increased Ore Reserve price countered by geological model changes at the quartz-vein satellite orebodies and Serrotinho 0.4
Siguiri
Exploration success 0.4
Serra Grande New exchange rate, gold price and cost reduction 0.4
Cerro Vanguardia Exploration, methodology, price and cost countered by geotechnical changes 0.3
Sunrise Dam Exploration success 0.3
Other Additions less than 0.3Moz 0.1
Sub-total 29.8
Reductions Due to:  
Other Reductions less than 0.3Moz (0.1)
As at 31 December 2020 29.7

Copper

Mineral resource

The AngloGold Ashanti Mineral Resource of 4.39Mt (9,677Mlb) remained unchanged between December 2019 and December 2020.

Mineral Resource – Copper
    Mt Mlb
As at 31 December 2019 4.39 9,677
Additions Due to:
Quebradona No changes
As at 31 December 2020 4.39 9,677

Mineral Reserve

The AngloGold Ashanti Ore Reserve increased from 1.39Mt (3,068Mlb) in December 2019 to 1.41Mt (3,105Mlb) in December 2020. This gross annual increase of 0.02Mt is due to optimisation of the production levels.

Ore Reserve – Copper
    Mt Mlb
As at 31 December 2019 1.39 3,068
Additions Due to:
Quebradona Result of the update of the mine plan in an effort to optimise the production levels as part of the Feasibility study 0.02 37.3
As at 31 December 2020 1.41 3,105

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