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External assurance statement

INDEPENDENT ASSURANCE REPORT ON SELECTED SUSTAINABILITY INFORMATION

To the directors and management of AngloGold Ashanti Limited

We have undertaken an assurance engagement on selected sustainability information as described below and presented in AngloGold Ashanti’s Limited’s (“AngloGold Ashanti”) Sustainability Report (“Report”) and Supplementary Information for the year ended 31 December 2011. We have complied with the International Federation of Accountants (IFAC) Code of Ethics for Professional Accountants, which includes comprehensive independence and other requirements founded on fundamental principles of integrity, objectivity, professional competence and due care, confidentiality and professional behaviour. Our engagement was conducted by a multi-disciplinary team of health, safety, social, environmental and assurance specialists which extensive experience in sustainability reporting.

Level of assurance on selected sustainability information

The assurance we are required to provide is as follows:

  1. Limited assurance on AngloGold Ashanti’s assertions regarding its policies alignment with the International Council on Mining and Metals (‘ICMM’) ten Sustainable Development Principles as indicated by the symbol Limited Assurance icon in the Supplementary Information; AngloGold Ashanti’s reporting of material sustainable development risks and opportunities and views and expectations of its stakeholders in accordance with the criteria; AngloGold Ashanti’s performance on identified risks and opportunities by way of selected key performance indicators as marked for assurance by the symbol Limited Assurance icon in the Supplementary Information asserted in accordance with the criteria disclosed on the relevant pages; and whether AngloGold Ashanti’s Report and Supplementary Information for the period ended 31 December 2011, has been prepared, in all material respects, in accordance with the self-declared Global Reporting Initiative (‘GRI’) G3 Guidelines A+ application level using the principles of materiality, completeness and sustainability context; and
  2. Reasonable assurance on AngloGold Ashanti’s performance on identified risks and opportunities based on selected key performance indicators as marked for assurance with the symbol Reasonable Assurance icon in the Supplementary Information asserted in accordance with the criteria on the relevant pages.

The criteria used are as set out by both the ICMM Sustainable Development Assurance Framework Procedure and the Global Reporting Initiative (‘GRI’) G3 Guidelines. AngloGold Ashanti’s internal corporate reporting procedures were applied as criteria for testing the selected key performance indicators in the scope of the assurance and are indicated in the Supplementary Information as footnotes where relevant.

Directors’ Responsibility

The directors are responsible for the selection and application of the criteria detailed above and for the preparation and presentation of the Report and the Supplementary Information and the information and assessments contained in the Report and the Supplementary Information in accordance with the relevant criteria. This responsibility includes: designing, implementing and maintaining appropriate performance management systems to record, monitor and improve the accuracy, completeness and reliability of the sustainability data and to ensure that the information and data reported meet the requirements of the relevant criteria, and contain all relevant disclosures that could materially affect any of the conclusions drawn and is free from material misstatement whether due to fraud or error.

Assurance Provider’s Responsibility

Our responsibility is to express our limited and reasonable assurance conclusions on the selected sustainability information based on our work performed. We have conducted our assurance engagement in accordance with the International Federation of Accountants’ (IFAC’s) International Standard on Assurance Engagements (ISAE) 3000 Assurance Engagements Other Than Audits or Reviews of Historical Financial Information. This standard requires us to comply with ethical requirements and to plan and perform our engagement to obtain assurance about whether the selected sustainability information is free from material misstatement.

Our procedures and the extent of our procedures depend on our judgement including the risk of material misstatement of the selected sustainability information. In a limited assurance engagement, the evidence gathering procedures are less than where reasonable assurance is expressed. In making our risk assessments, we considered internal control relevant to AngloGold Ashanti’s preparation of the Report and Supplementary Information. Our assessment of relevant internal control is not for the purpose of expressing a conclusion on the effectiveness of the entity’s internal controls. Our report does not extend to providing assurance on prior years’ data. We believe the evidence we have obtained is sufficient and appropriate to provide a basis for our conclusions.

Summary of work performed

Set out below is a summary of the procedures performed:

  • We obtained an understanding of:
    • The entity and its environment;
    • Entity-level controls;
    • The stakeholder dialogue process;
    • The selection and application of sustainability reporting policies;
    • How management has aligned itself with the requirements of the ICMM; and
    • The significant reporting processes including how information is initiated, recorded, processed, reported and incorrect information is corrected, as well as the policies and procedures within the reporting processes.
  • We made such enquiries of management, employees and those responsible for the preparation of the Report, the Supplementary Information and the specified KPIs, as we considered necessary.
  • We inspected relevant supporting documentation and obtained such external confirmations and management representations as we considered necessary for the purposes of our engagement.
  • We performed analytical procedures and limited tests of detail responsive to our risk assessment and the level of assurance required, including comparison of judgementally selected information to the underlying source documentation from which the information has been derived.
  • We tested the key performance indicators indicated by the symbols Limited Assurance icon or Reasonable Assurance icon in the Supplementary Information and the (Report, pg. 4, 5, 6, 7, 28, 29, 40, 42, 46, 49), by testing the indicators at a Group level and at selected sites and business units in South Africa at Tau Tona, Savuka, Metallurgical operations; the Sadiola operation in Mali; and the Geita operation in Tanzania.
  • We considered whether AngloGold Ashanti has applied the GRI G3 Guidelines to a level described on page 57 of the Report.

Conclusions

Limited Assurance

Based on our work performed, nothing has come to our attention that causes us to believe that: AngloGold Ashanti’s assertions regarding its policies are not in alignment with the ICMM’s ten Sustainable Development Principles as indicated by the symbol Limited Assurance icon in the Supplementary Information; AngloGold Ashanti’s reporting of material sustainable development risks and opportunities and views and expectations of its stakeholders are not in accordance with the criteria; AngloGold Ashanti’s performance for identified risks and opportunities by way of selected key performance indicators as marked for assurance by the symbol Limited Assurance icon in the Supplementary Information and the Report, are not asserted in accordance with the criteria disclosed on the relevant pages; and AngloGold Ashanti’s Report and Supplementary Information for the period ended 31 December 2011, has not been prepared, in all material respects, in accordance with the self-declared Global Reporting Initiative (GRI) G3 Guidelines A+ application level using the principles of materiality, completeness and sustainability context.

Reasonable Assurance

In our opinion, the selected key performance indicators (as identified by the symbol Reasonable Assurance icon) in the Supplementary Information and the Report, for the period ended 31 December 2011, are fairly stated, in all material respects in accordance with the criteria.

Other matter

The maintenance and integrity of the AngloGold Ashanti Website is the responsibility of AngloGold Ashanti management. Our procedures did not involve consideration of these matters and, accordingly we accept no responsibility for any changes to either the information in the Report, Supplementary Information or our assurance report that may have occurred since the initial date of presentation on the AngloGold Ashanti Website.

Limitation of Liability

Our responsibility in performing our independent limited and reasonable assurance engagements is to AngloGold Ashanti only and in accordance with the terms of reference for this engagement as agreed with them. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than AngloGold Ashanti, for our work, for this report, or for the conclusions we have reached.

Ernst & Young Inc
Director: JP Grist
Registered Auditor
Chartered Accountant (SA)
Ernst & Young
52 Corlett Drive
Johannesburg
16 March 2012