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Annual report suite 2012

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.

The Social, Ethics and Transformation Committee (SET) is constituted as a statutory committee of AngloGold Ashanti in compliance with Sections 72(4) and Regulation 43 of the Companies Act No. 71 of 2008 (Companies Act). It was established on 30 April 2012 and comprises seven members, the majority of whom are independent non-executive directors.

The mandate of a SET, as envisaged by the Companies Act, covers matters that have previously been addressed by other committees of the board, including the Safety, Health and Sustainable Development Committee, the Audit and Corporate Governance Committee and the Transformation and Human Resource Development Committee. The first task of the board was to identify how best to structure the mandate of the SET, so as not to cause duplication.

After consultation and deliberation, the board named the committee the “Social, Ethics and Transformation Committee”. In line with its statutory mandates, the committee assumed duties relating to ethics, transformation and sustainability. The committee will also monitor the company’s performance on safety, health and the environment.

At its first sitting in November 2012, the committee dealt with relevant administrative processes and procedures requiring its smooth functioning. The meeting also discussed and clarified the legal framework necessary for the committee’s optimal functioning.

On 15 February 2013 the committee held its second meeting. It received and discussed several reports relating to its areas of responsibilities. The committee is now set to discharge its duties as prescribed by the Companies Act and set out in its terms of reference. The standard agenda items include community relations, ethics and anti-corruption, human rights issues, employee and community security, transformation (specific to South Africa), and localisation matters (employment and labour matters in other jurisdictions), matters relating to the health and safety of employees and communities and other sustainability matters, including good corporate citizenship and stakeholder relations.

The committee will be in a position to provide a more comprehensive report of its activities in the 2013 annual report.

Nozipho Patricia January-Bardill
Chairperson: Social, Ethics and Transformation Committee
19 March 2013