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Annual report suite 2012

ANNUAL FINANCIAL STATEMENTS 2012

This report, the Annual Financial Statements 2012, is a fundamental component of this suite of reports and addresses the financial and governance requirements of the company in line with its primary listing on the Johannesburg Stock Exchange (JSE).

Scope of this report

Financial review

Operating profit for the year decreased from $2,202m in 2011 to $1,127m in 2012, mainly as a result of reduced gold income due to lower production levels at the South African operations following the strike action and increased safety related stoppages, higher operating costs, impairments and derecognition of assets.  


View as 5 year performance graphs

KEY FEATURES OF THE YEAR

Safety:

AIFR(1) of 7.72 per million hours worked.
(1) All injury frequency rate

Capital expenditure:

$2,154m spent, including equity-accounted
investments

Gold production:

3,944,000oz* of gold produced.

Total cash costs:

862 $/oz*.

EBITDA:

$2,397m, excludes hedge buy-back costs in years 2008 to 2010

  1. * Gold production, total cash costs and return on equity were adversely impacted in 2012, primarily due to the unprotected strike in South Africa.
Return on equity:

18%*, excludes hedge buy-back costs in years 2008
to 2010

Cash flow:

$1,802m net cash inflow from operating activities,
excludes hedge buy-back costs in years 2008 to 2010

Adjusted headline earnings:

$924m, excludes hedge buy-back costs in years 2008 to 2010


Corporate governance

AngloGold Ashanti believes that adherence to best practice in corporate governance is the bedrock of a sustainable business and underpins the creation of long-term value for its shareholders. In that regard the company has consistently demonstrated this belief by applying best practice in corporate governance in managing the affairs of the group.  

Chairman’s letter - Audit and Corporate Governance Committee

Internal controls and procedures have been put in place to manage the risk of business failure and provide reasonable assurance against such failure.
Prof Wiseman Nkuhlu | Read letter

Risk factors

This section describes many of the risks that could affect AngloGold Ashanti. There may however be additional unknown risks and other risks, currently believed to be immaterial, that either individually or simultaneously, could significantly affect the group’ s business, financial results and the price of its securities.  

Chairperson’s letter – Social, Ethics and Transformation Committee

This committee has been established in compliance with legislation and is in the process of determining its mandate.

Nozipho Patricia January-Bardill | Read letter