G = Governance

Governance and partnerships

Good corporate governance is integral to how we operate, to long-term value creation and thus to the sustainability of our business.

We apply the principles and recommendations set out in the King IV Report and other relevant laws, and comply with all the listings requirements of the stock exchanges on which we are listed. We are committed to promoting good governance and being a responsible corporate citizen. Our Code of Ethics and values guide our conduct, and that of our contractors as well.

The board provides ethical leadership and is responsible for our overall corporate governance. It acknowledges that sound governance principles and practices underpin value creation for shareholders and the sustainability of the business, and are thus crucial to the achievement of our business objectives.

Our governance processes are set out under corporate governance, page 110 of the <IR>. Further detail on this is provided in the the Audit and Risk Committee chairperson’s letter, page 108 of the <IR> and on our assurance processes. See also the <SR:Independent Assurance report>

In launching the SDGs, the UN explicitly recognised that in achieving these goals business would have an important role to play and that this would entail collaboration with governments and NGOs, among others. Hence the importance of SDG 17 – Partnerships for the goals – in acknowledgment of the strong commitment to global partnership and co-operation required to deliver on the goals. One of the targets specified for SDG 17 is “to encourage and promote effective public, public-private and civil society partnerships, building on the experience and resourcing strategies of partnerships”.

In the spirit of SDG 17– Partnerships for the goals – we collaborate with and support various organisations that include the ICMM, the World Gold Council (WGC) and the World Economic Forum (WEF), among others. As a member of the ICMM, we commit to their 10 principles which underpin sustainable development in the mining industry, and include protecting biodiversity, respecting human rights, and contributing to the sustainable development of host countries.

We also work together with the United Nations Environment Programme (UNEP) and the Principles for Responsible Investment (PRI) to collaborate on various industry issues. We have also participated in efforts by the ICMM members and the Global Tailings Review to develop an international tailings standard for the safer management of tailings storage facilities, following the Brumadinho dam wall failure in Brazil early in 2019. The Brumadinho TSF failure also resulted in a significant global drive for increased transparency around the management of tailings facilities. In 2019 there was a coalition comprising the Church of England Pensions Board, the Swedish Council on Ethics and the UN-supported PRI that sent a request to global mining companies for a public disclosure of detailed information relating to their TSFs and the management thereof. See AngloGold Ashanti’s mine tailings disclosure document.

Participation in sustainability indices

We engage openly with various indices such as the FTSE Russell, the Responsible Mining Index (RMI), the Dow Jones Sustainability Indices (DJSI) and the Bloomberg Gender-Equality Index, which have rated our sustainability performance during the year.

FTSE4Good 2019

  • The FTSE4Good Index Series is designed to measure the performance of companies demonstrating strong ESG practices.
  • Overall rating: 4.3 out of a total of 5 (up from 4.2 in 2018). This compares favourably with average scores of 2.6 for the gold mining sector, 2.1 for the basic materials industry and 3.5 for South Africa.
  • Score by theme:
    • Environment = 3.9
    • Social = 4.0
    • Governance = 5.0

RobecoSAM Dow Jones Sustainability Index

AngloGold Ashanti has been included in the emerging markets index component of the Dow Jones Sustainability Indices (DJSI) for the fourth consecutive year. Our inclusion in the RobecoSAM Dow Jones Sustainability Emerging Markets Index acknowledges the continued improvement in our sustainability practices. In the 2019 assessment, AngloGold Ashanti was among the top 15% of companies in the industry and achieved a score within 30% of the industry’s top performing companies.

The RobecoSAM ESG rating is now part of S&P Global, positioning it within the broader investment community. AngloGold Ashanti's overall score was 69 (2018: 66). Scores in the ESG categories were as follows:

  • Economic dimension:62 (2018: 64) – industry average: 41
  • Environmental dimension:73 (2018:70) – industry average: 35
  • Social dimension:73 (2018:66) – industry average: 33

Bloomberg Gender-Equality Index

AngloGold Ashanti has been included in the 2020 Bloomberg Gender-Equality Index (GEI) in recognition of the work being done to improve diversity and inclusion across the group. Our overall score of 69% compares with an average score across all sectors of 63% and 67% for the mining sector. Our highest scores were for disclosure, equal pay and gender parity, and for our sexual harassment policies. Opportunities exist to improve our performance – in terms of a female leadership and talent pipeline, and inclusivity – and submission. With the support of the board and executive committee to promote gender diversity and create an inclusive working environment, we are well placed to achieve this. See <People are our business> and the <Fair pay, diversity and inclusion>.


Bloomberg Gender Equality Index ScoresAngloGold AshantiAll sector averageMaterials sector
Overall GEI* average69%63%67%
Disclosure score97%90%94%
Data Excellence Score57%52%55%
Female leadership and talent pipeline30%48%51%
Equal pay and gender pay parity89%50%67%
Inclusive culture39%54%47%
Sexual harassment policies80%58%69%
Pro-women brand75%48%43%
  • * Total number of companies: 325, of which 20 are in the materials sector.

Responsible Mining Index 2020

AngloGold Ashanti was ranked fourth out of 38 global mining companies for its mine-site-level results in the Responsible Mining Index (RMI) which assesses the extent to which largescale mining companies address a range of economic and ESG issues across their mining activities. We scored in the top five for performance in economic development, lifecycle management, community wellbeing and environmental responsibility. Other areas which are assessed by the index are business conduct and working conditions. We were commended for, among others, our transparency in relation to the negative impacts our operations can have, our formalised approach to supporting local procurement and local business development, for our comprehensive approach to mitigating the impacts of collective retrenchment and relatively detailed disclosure of environmental incidents.

Our ranking (out of 38 companies) for the six performance areas was as follows:

  • Community wellbeing – 2
  • Lifecycle management – 3
  • Economic development – 3
  • Environmental responsibility – 5
  • Working conditions – 7
  • Business conduct – 11