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AngloGold Ashanti Releases 2020 Suite of Reports Highlighting Strategic Objectives and ESG Commitment
AngloGold Ashanti Limited
(Incorporated in the Republic of South Africa)
Reg. No. 1944/017354/06
ISIN: ZAE000043485 – JSE share code: ANG
CUSIP: 035128206 – NYSE share code: AU
(“AngloGold Ashanti”, “AGA”, the “Company” or the “Group”)
NEWS RELEASE
AngloGold Ashanti Releases 2020 Suite of Reports Highlighting Strategic Objectives
and ESG Commitment
(JOHANNESBURG) – NEWS RELEASE - AngloGold Ashanti today issued its suite of
annual reports for 2020, highlighting its delivery on strategic objectives and its commitment
to continued focus on its environmental, social and governance (ESG) performance.
Over the course of 2020 – a year in which the COVID-19 pandemic caused disruption across
the world – the quality of AngloGold Ashanti’s portfolio improved, the Obuasi Redevelopment
Project made steady progress to completion, net additions were made to both Ore Reserve
and Mineral Resource, net debt fell to its lowest level in a decade and the dividend increased
more than fivefold.
“I’m pleased to say our leadership and employees responded as we always hoped they
would in a crisis; steady under pressure and faithfully adhering to our values in adapting to
new challenges in a rapidly evolving operating environment,” said Maria Ramos, AngloGold
Ashanti’s Chairperson. The Company delivered a “solid performance, but we’re mindful that
there is much to do to narrow the value gap that persists versus many of our international
gold-mining peers.”
“The Board of directors has identified areas for improvement”, Ramos said, including in cash
conversion, overall cost management and the crucial area of safety, after a period of almost
two years without a fatal accident ended in early 2020. In addition, the search for a new CEO
is ongoing, with a thorough process underway that is considering internal and external
candidates.
The Company’s suite of reports released today include its Integrated Report, Annual
Financial Statements, Sustainability Report and Mineral Resource & Ore Reserve Report,
which together provide a detailed view of the business, including its ore bodies, the cost and
production outlook, progress in achieving its key strategic objectives and also its overall ESG
performance.
“The fundamental performance of the business was strong in 2020, which was a pivotal year
for us,” said Christine Ramon, Interim CEO. “The trimmed down portfolio allows us to focus
our capital on high return, longer life opportunities.”
AngloGold Ashanti has outlined a plan to grow production to between 3.2Moz and 3.6Moz by
2025, mainly from brownfields projects in its existing suite of assets. Additional production in
the latter years is expected from two Colombian projects that will be presented to the Board
for approval later this year.
The Sustainability Report provides a comprehensive overview of AngloGold Ashanti’s
relationships with stakeholders and its ESG performance and track record, a crucial element
in securing the social licence to operate in the communities where its ore bodies are located.
The report also outlines the Company’s environmental performance, including the progress
toward providing new carbon emission targets later this year along with an updated Climate
strategy.
“Across all of this is our commitment to ESG. We’ve seen in countless ways how this
mutually reinforcing cycle creates value for a wide range of stakeholders. It makes our
communities stronger, makes our jobs more fulfilling, and is good for shareholders, too,” said
Ramon. “The product of this equation is clear – more efficient operations, with lower risk
profiles, more supportive communities, and increased access to growth opportunities.”
“The Board of directors and management team are committed to achieving net zero
emissions, in line with the Paris Agreement, and will chart a pathway to achieving that goal
once the new climate strategy is finalised”, Ramon said.
The Mineral Resource & Ore Reserve Report provides detail on a strong exploration
performance in 2020, the first year of a dedicated initiative to focus investment on increasing
Ore Reserve. The Company added 6.1Moz of new gold Ore Reserve during 2020, more
than replacing depletion caused by mining, and extending the reserve life of the portfolio to
11 years.
ENDS
Johannesburg
26 March 2021
JSE Sponsor: The Standard Bank of South Africa Limited
CONTACTS
Media
Chris Nthite +27 11 637 6388/ +27 83 301 2481 cnthite@anglogoldashanti.com
General inquiries media@anglogoldashanti.com
Investors
Sabrina Brockman +1 646 880 4526/ +1 646 379 2555 sbrockman@anglogoldashanti.com
Yatish Chowthee +27 11 637 6273 / +27 78 364 2080 yrchowthee@anglogoldashanti.com
Fundisa Mgidi +27 11 637 6763 / +27 82 821 5322 fmgidi@anglogoldashanti.com
Certain statements contained in this document, other than statements of historical fact,
including, without limitation, those concerning the economic outlook for the gold mining
industry, expectations regarding gold prices, production, total cash costs, all-in sustaining
costs, all-in costs, cost savings and other operating results, return on equity, productivity
improvements, growth prospects and outlook of AngloGold Ashanti’s operations, individually
or in the aggregate, including the achievement of project milestones, commencement and
completion of commercial operations of certain of AngloGold Ashanti’s exploration and
production projects and the completion of acquisitions, dispositions or joint venture
transactions, AngloGold Ashanti’s liquidity and capital resources and capital expenditures and
the outcome and consequence of any potential or pending litigation or regulatory proceedings
or environmental health and safety issues, are forward-looking statements regarding
AngloGold Ashanti’s operations, economic performance and financial condition. These
forward-looking statements or forecasts involve known and unknown risks, uncertainties and
other factors that may cause AngloGold Ashanti’s actual results, performance or
achievements to differ materially from the anticipated results, performance or achievements
expressed or implied in these forward-looking statements. Although AngloGold Ashanti
believes that the expectations reflected in such forward-looking statements and forecasts are
reasonable, no assurance can be given that such expectations will prove to have been correct.
Accordingly, results could differ materially from those set out in the forward-looking statements
as a result of, among other factors, changes in economic, social and political and market
conditions, the success of business and operating initiatives, changes in the regulatory
environment and other government actions, including environmental approvals, fluctuations in
gold prices and exchange rates, the outcome of pending or future litigation proceedings, any
supply chain disruptions, any public health crises, pandemics or epidemics (including the
COVID-19 pandemic), and other business and operational risks and other factors. For a
discussion of such risk factors, refer to AngloGold Ashanti’s annual report on Form 20-F, which
have each been filed with the United States Securities and Exchange Commission (SEC).
These factors are not necessarily all of the important factors that could cause AngloGold
Ashanti’s actual results to differ materially from those expressed in any forward-looking
statements. Other unknown or unpredictable factors could also have material adverse effects
on future results. Consequently, readers are cautioned not to place undue reliance on forward-
looking statements. AngloGold Ashanti undertakes no obligation to update publicly or release
any revisions to these forward-looking statements to reflect events or circumstances after the
date hereof or to reflect the occurrence of unanticipated events, except to the extent required
by applicable law. All subsequent written or oral forward-looking statements attributable to
AngloGold Ashanti or any person acting on its behalf are qualified by the cautionary
statements herein.
The information contained in this announcement has not been reviewed or reported on by
AngloGold Ashanti’s external auditors.
Non-GAAP financial measures
This communication may contain certain “Non-GAAP” financial measures. AngloGold Ashanti
utilises certain Non-GAAP performance measures and ratios in managing its business. Non-
GAAP financial measures should be viewed in addition to, and not as an alternative for, the
reported operating results or cash flow from operations or any other measures of performance
prepared in accordance with IFRS. In addition, the presentation of these measures may not
be comparable to similarly titled measures other companies may use.
Incorporated in the Republic of South Africa Reg No: 1944/017354/06
ISIN: ZAE000043485 – JSE share code: ANG CUSIP: 035128206 – NYSE share code: AU
Website: www.anglogoldashanti.com
Date: 26-03-2021 05:11:00
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