KEY FEATURES OF THE YEAR

SCOPE OF THIS REPORT

The report addresses the most significant aspects of our business and forms part of a comprehensive suite of annual reports to stakeholders for 2012.

This is the Annual Integrated Report for AngloGold Ashanti Limited (AngloGold Ashanti) for the period 1 January 2012 to 31 December 2012 (our 2012 financial year). For ease of use, a detailed guide to using our reports may be found on the flap of the inside back cover of this report. An interactive online guide is available on this site.

Compilation of this report

This Annual Integrated Report has been produced in line with the recommendations of the South African King Code on Corporate Governance, 2009 (King III) and the Listings Requirements of the Johannesburg Stock Exchange (JSE), the home of our primary listing.

We have taken cognisance of both local and international recommendations on integrated reporting in developing our report content and the style of reporting. In particular, we have followed the guiding principles and content elements advocated by the International Integrated Reporting Committee and published in its pilot guidelines “TOWARDS INTEGRATED REPORTING: Communicating Value in the 21st Century”, and have adapted these to meet our specific operating and business circumstances.

This report seeks to provide a holistic view of our business – now and in the future – covering operational, financial and non-financial information. We have identified and engaged with a diverse range of stakeholders – see Our stakeholders. While we have endeavoured to report in a way that is understandable and relevant to a broad range of stakeholders, we have – for the purposes of our reporting – identified our priority stakeholder groups. See diagram below.

Our priority
Stakeholder groups

We have also taken cognisance of those issues that we believe are most material to the group’s future sustainability, identified through our combined assurance process and the views expressed by stakeholders. This is discussed in greater detail under Statement of combined assurance, and has informed the content of this report.

As this is a group-level report, operational targets and performance are discussed at a regional rather than operational level, although some operational detail is provided where this is appropriate. For detailed operational performance, readers are referred to our 2012 Operational and Project Profiles.

While we endeavour to move towards a fully integrated online platform for reporting, we note that many stakeholders will not have access to our website, and that some stakeholders prefer printed copies of our reports. This report is accessible both online and as a printed report, available on request from the company secretary at companysecretary@anglogoldashanti.com, PO Box 62117, Marshalltown, Johannesburg, 2107. To further facilitate communication, where relevant, several of these reports have been translated into French, Spanish and Portuguese.

Our reports cover all operations and entities in which the group has a controlling interest and which are under our management, or where the company has interests or joint ventures in the management structure. Information relating to joint ventures and other interests is provided for context.

Assurance and approvals

AngloGold Ashanti’s suite of 2012 annual reports have been reviewed and assured as follows:

• Following its recommendation by the Audit and Corporate Governance Committee, this Annual Integrated Report 2012 was approved by the board of directors on 19 March 2013.
• The Annual Financial Statements 2012 for the year ended 31 December 2012 were approved by the Board of Directors on 19 March 2013. In accordance with Section 29(1)(e)(ii) of the Companies Act, No 71 of 2008, the Annual Financial Statements for AngloGold Ashanti Limited for the year ended 31 December 2012 were audited by Ernst & Young Inc., the company’s independent external auditors, whose unqualified audit report may be found in the Annual Financial Statements. These financial statements were prepared by the corporate reporting staff of AngloGold Ashanti Limited, headed by John Edwin Staples, the group’s Chief Accounting Officer. This process was supervised by Srinivasan Venkatakrishnan, the group’s Chief Financial Officer and Mark Cutifani, the group’s Chief Executive Officer.
• The Mineral Resource and Ore Reserve Report 2012 was approved by the board of directors on 19 March 2013. The chairman of the Mineral Resource and Ore Reserve Steering Committee assumes responsibility for the Mineral Resource and Ore Reserve Report 2012.
• The Sustainability Report 2012 and Online Sustainability Report 2012 were approved by the board of directors on 19 March 2013. Independent assurance of this report was provided by Ernst & Young Inc., and their assurance statement may be found in the Online Sustainability Report.

This report has been compiled in line with the Global Reporting Initiative (GRI) G3.0 guidelines, and AngloGold Ashanti has self-declared an application level of A+. The report was ‘checked’ by GRI. The statements by Ernst & Young and GRI may be found in our online report.

Progression towards integrated reporting and combined assurance

AngloGold Ashanti is committed to the progressive implementation of integrated reporting at all levels of our business. This reporting should, and does, reflect a holistic account of our business – both financial and non-financial objectives and our performance against them, and our vision for the future. Under the guidance of the Audit and Corporate Governance Committee, a combined assurance model has been adopted with the aim of providing a coordinated approach to all assurance activities. We believe that this will enable the board and management to assess whether the significant risks facing the group are completely and adequately mitigated. The combined assurance model facilitates a group wide integration and leveraging of the various control, governance and assurance processes and its introduction has brought a new dimension to assurance within the group through the value being derived from integrated assurance teams.

During 2012, all significant operations within AngloGold Ashanti were subjected to risk based, integrated, technical or commercial combined assurance reviews. The outcome of these reviews provided reasonable assurance to allow the board, on recommendation from the Audit and Corporate Governance Committee, to conclude on the effectiveness of the group’s system of internal controls.

See the Statement on combined assurance.

For noting

The following key parameters should also be noted in respect of our reports:

• Production is expressed on an attributable basis unless otherwise indicated.
• The average number of employees is reported for AngloGold Ashanti subsidiaries and joint ventures. Employee numbers for joint ventures represents the group’s attributable share.
• There were no restatements during the year for the group annual financial statements.
• Unless otherwise stated, $ or dollar refers to US dollars throughout this suite of reports.
• Locations on maps are for indication purposes only.
• Group and company are used interchangeably except in the summarised financial information.
• Statement of financial position and balance sheet are used interchangeably.

For terminology used refer to the Glossary of Terms and Non-Gaap Disclosure.