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Annual report suite 2012

One-year forecast – 2013

2013 production target of 4.1Moz to 4.4Moz.

AngloGold Ashanti’s attributable gold production for 2013 is estimated at between 4.1Moz and 4.4Moz. This forecast takes into account the planned mill change-out at Geita, operational issues experienced at Obuasi, and the start of production at Tropicana in the third quarter of 2013.

Total cash costs are forecast to be between $815/oz and $845/oz.

Both production and total cash costs estimates will be reviewed quarterly, in light of any safety related stoppages that might be experienced in South Africa and any other unforeseen factors.

For 2013, capital expenditure is anticipated to be about $2.10bn, compared to $2.15bn in 2012. Included in capital expenditure guidance for 2013 is qualified deferred stripping costs of $118m.

AngloGold Ashanti may not be able to reach these targets. Refer to the forward-looking statements and to the page entitled “Risk factors related to AngloGold Ashanti’s suite of 2012 reports”.

This one-year forecast assumes the existing asset base with no changes to the portfolio. AngloGold Ashanti is currently engaged in a portfolio review which may impact on this forecast.

Forecast

For the year ending 31 December 2013 Production
000oz
Expected total cash cost $/oz (1) Capital expenditure
$m (2)
South Africa 1,331 – 1,429 777 – 805 506
South Africa 1,331 – 1,429 777 – 805 506
Continental Africa 1,375 – 1,476 911 – 945 722
Ghana 464 – 497 1,107 – 1,147 217
Guinea 209 – 225 1,112 – 1,153 30
Mali 163 – 175 1,270 – 1,317 57
Namibia 76 – 82 781 – 810 6
Tanzania 463 – 497 524 – 543 82
Democratic Republic of the Congo 330
Americas 977 – 1,048 669 – 694 503
Argentina 221 – 237 626 – 649 75
Brazil 539 – 578 666 – 691 177
Colombia 48
United States of America 217 – 233 720 – 747 203
Australasia 417 – 447 949 – 984 320
Australia 417 – 447 949 – 984 320
Other 49
AngloGold Ashanti 4,100 – 4,400 815 – 845 2,100
  1. (1) Based on the following assumptions: R8.75/$, $1.02/A$, BRL2.00/$ and Argentinean peso 5.00/$; Brent crude at $113 per barrel.
  2. (2) Capital expenditure is managed in line with earnings and cash flows and may fluctuate accordingly. Forecast capital expenditure for operations with minorities is reported at 100%. For entities which are equity accounted, the forecast capital spend is the attributable share.
Other illustrative estimates Outlook 2013
Depreciation and amortisation $1,050m
Corporate, marketing and capacity building costs $240m
Expensed exploration and study costs (including equity-accounted associates and joint ventures) $377m
Interest and finance costs (income statement) (3) $250m
Interest and finance costs (cash flow) $190m
Number of shares qualifying for basic EPS at 31 December 2012
387m
In September 2013 the mandatory convertible bonds are due for conversion into equity of 18.14m shares at the current share price.  
Weighted average number of shares qualifying for basic EPS for the year ended 31 December 2013. 392m
  1. (3) Includes coupon on mandatory convertible bonds.