Principal subsidiaries and operating entities

Principal subsidiaries are those subsidiaries that hold material contracts and/or act as borrowers and/or guarantors of such material contracts or operating mines.

Country of incorporation			Shares held		Percentage held
			2011	2010	2011	2010
Principal subsidiaries
AngloGold Ashanti Australia Limited	2		257,462,077	257,462,077	100	100
AngloGold Ashanti Holdings plc	6	}	4,226,443,301	4,095,658,550	100	100
			*1,273,918,156	*723,254,927
AngloGold Ashanti Holdings Finance plc	6		100	100	100	100
AngloGold Ashanti USA Incorporated	10	}	234	234	100	100
			*500	*500
Operating entities (1)
AngloGold Ashanti Córrego do Sitío Mineração S.A.	3		4,167,085,000	4,167,085,000	100	100
AngloGold Ashanti (Ghana) Limited (2)	4		132,419,585	132,419,585	100	100
AngloGold Ashanti (Iduapriem) Limited	4		66,270	66,270	100	100
AngloGold Australia (Sunrise Dam) Pty Limited	2		2	2	100	100
AngloGold Namibia (Pty) Limited	8		10,000	10,000	100	100
Cerro Vanguardia S.A.	1		13,875,000	13,875,000	92.50	92.50
AngloGold Ashanti (Colorado) Corp (3)	10		1,250	1,250	100	100
Geita Gold Mining Limited	9		61,691,386	61,691,386	100	100
Mineração Serra Grande S.A.	3		499,999,996	499,999,996	50	50
Société AngloGold Ashanti de Guinée S.A.	5		3,486,134	3,486,134	85	85
Société des Mines de Morila S.A. (4)	7		400	400	40	40
Société d'Exploitation des Mines d'Or de Sadiola S.A. (4)	7		41,000	38,000	41	41
Société d'Exploitation des Mines d'Or de Yatela S.A. (4)	7		400	400	40	40
Teberebie Goldfields Limited	4		2,066,667	2,066,667	100	100

* Indicates preference shares

1. ⁽¹⁾All the operating mines in South Africa, namely, Great Noligwa, Kopanang, Moab Khotsong, Mponeng, Savuka, and TauTona are held by the parent company, AngloGold Ashanti Limited.
2. ⁽²⁾Operates the Obuasi mine in Ghana, a wholly owned operation.
3. ⁽³⁾Operates the Cripple Creek & Victor gold mine, a wholly owned operation.
4. ⁽⁴⁾Represents a joint venture entity.

Country of incorporation – key

The aggregate interest in the net profits and losses in subsidiaries is as follows:

US Dollars millions	2011	2010
Net profits	663	63
Net losses	(282)	(963)
	381	(900)

SA Rands millions	2011	2010
Net profits	4,811	460
Net losses	(2,046)	(7,033)
	2,765	(6,573)