Corporate profile and structure

Headquartered in Johannesburg, South Africa, AngloGold Ashanti has 21 operations in 11 countries. Two new mines, Tropicana in Australia and Kibali in the Democratic Republic of the Congo (DRC), began production in late 2013.


Organisational and management structure [graph] Operations [map]

Percentages indicate the ownership interest in AngloGold Ashanti, whether held directly or indirectly. All operations are 100%-owned unless otherwise indicated.

  1. (1) For the purposes of this report, Surface Operations includes First Uranium SA, which owns Mine Waste Solutions (MWS). MWS is managed and operated as a separate cash-generating unit.
  2. (2) Post year-end, AngloGold Ashanti announced that it had signed a binding agreement for the sale of Navachab, subject to certain conditions.
  3. (3) As from 1 January 2013, TauTona and Savuka were operated and managed as one entity and accordingly combined under TauTona.
  4. (4) Both Morila and Kibali are managed and operated by Randgold Resources Limited.

Anglogold Ashanti today

During 2013, a significant milestone was the start of production, within days of each other, at two new mines – Tropicana in Australia and Kibali in the DRC. Both mines came on stream ahead of schedule and within budget.

AngloGold Ashanti is a global gold mining and exploration company with a diverse portfolio of mining operations and projects on four continents, with more than 96% of the company’s revenue derived from the sale of gold produced at its operations located around the world. Working across the full spectrum of the mining value chain, safety and the sustainability of the company’s operating activities remain a core focus for management. The company is headquartered in Johannesburg, South Africa.

Following a strategic review of AngloGold Ashanti’s asset portfolio at the start of 2013, particularly as it pertains to development and exploration projects, the company embarked on significant restructuring in response to current challenges in the gold sector, including increasing costs of production and sustained lower gold prices.

Management of AngloGold Ashanti is organised into four business segment under two chief operating officers – South Africa and International – as follows:

  • South Africa comprises the operations and assets in the following areas in South Africa:
    • West Wits;
    • Vaal River; and
    • Surface Operations, which includes First Uranium SA which owns Mine Waste Solutions (MWS), for the purposes of this report. For accounting purposes, MWS is operated and managed as a separate cash-generating unit from a Chief Operating Decision-Maker perspective.
  • International comprises the company’s operating assets outside of South Africa as follows:
    • Continental Africa with operations in the DRC (1), Ghana, Guinea, Mali, Namibia (2) and Tanzania;
    • Australasia which comprises two operations in Australia (3); and
    • Americas with operations in Argentina, Brazil and the United States.
  1. (1) Kibali began production in September 2013.
  2. (2) Post year-end, a binding agreement was reached regarding the sale of the Navachab mine in Namibia, subject to certain conditions.
  3. (3) Tropicana began production in September 2013.

Group support functions include planning and technical, strategy, sustainability, finance, human resources, legal and stakeholder relations. The planning and technical function focuses on the management of opportunities and the maintenance of long-term optionality in the business through a range of activities which includes brownfields and greenfields exploration, innovative research, the development and technical assurance of technology and a continuing focus on mining excellence.

Despite the addition of two new mining operations, Kibali and Tropicana, which began production in the second half of 2013, the number of AngloGold Ashanti operations in 2013 remained unchanged at 21. In South Africa, following the restructuring of the portfolio, Savuka is now reported together with TauTona and MWS is included in the reporting of Surface Operations.

AngloGold Ashanti’s brownfield and greenfield exploration programmes take place in both established and new goldproducing regions through managed and non-managed joint ventures, strategic alliances and wholly-owned ground holdings.

AngloGold Ashanti’s operations and joint ventures employed, on average, 66,434 people (including contractors) in 2013, an increase of 1% on the number employed in 2012. This increase was largely due to the increase in employee numbers resulting from Kibali and Tropicana becoming operational, which offset declines corresponding with the restructuring undertaken during the year.


Once mined, the gold ore is processed into doré (unrefined gold bars) on site and then dispatched to precious metals refineries for refining to a purity of at least 99.5%, in accordance with the standards of ‘good delivery’ as determined by the London Bullion Market Association (LBMA). This refined gold is then sold directly to bullion banks. In addition to the mining operations, AngloGold Ashanti has a 42.43% interest in Rand Refinery (Pty) Ltd, Africa’s premier gold refining and smelting complex in South Africa, and owns and operates the Quieroz refinery in Brazil. The company also has an interest in OroAfrica, one of South Africa’s leading gold jewellery manufacturing companies, through its 36% stake in Oro Group (Pty) Ltd.

By-products of our gold mining operations, a function of local geological characteristics, include silver (Argentina), sulphuric acid (Brazil) and uranium (South Africa). As sulphuric acid and uranium are potentially hazardous, the company takes great care to ensure their safe production, transport and storage.

For further information on product stewardship programmes and the responsible gold initiatives, see the Annual Sustainability Report 2013.

Production: South Africa vs International – 2013 [graph] Attributable gold production by region – 2013 [graph]


AngloGold Ashanti’s primary listing is on the Johannesburg Stock Exchange (JSE). The company is also listed on the New York, London, Australia and Ghana stock exchanges. The Government of Ghana holds a 1.58% interest in the company.

The national governments of Mali, Guinea and the DRC hold direct interests in our subsidiaries operating in those countries. In Argentina, the province of Santa Cruz has an interest in the Cerro Vanguardia operation.

At the end of December 2013, AngloGold Ashanti had 403,340,412 ordinary shares on issue and a market capitalisation of $4.73bn (2012: $12.02bn). Post year-end, at 18 March 2014, the market capitilisation was $7.65bn.

Geographic distribution of shareholders [graph]