Performance review

One-year outlook

The forecasts provided for 2015 take into account current market conditions, the outlook for commodity prices, particularly that of oil, and the outlook for global economic growth(1).

KEY GROUP FORECASTS:

Production
4.0Moz ‑ 4.3Moz
All-in sustaining costs
$1,000/oz ‑ $1,050/oz
Capital expenditure
$1.0bn‑$1.1bn
Forecasts of expected production, costs and capital expenditure for 2015
 ProductionTotal cash
costs		All-in
sustaining
costs(2)		Capital
expenditure		Non-
sustaining
capital		Sustaining
capital
For the year ending 31 December 2015 (000)oz $/oz $/oz $m $m $m
South Africa 1,180‑1,268 797‑849 1,024‑1,075 272‑299 43‑48 229‑251
South Africa1,180‑1,268797‑8491,024‑1,075272‑29943‑48229‑251
Continental Africa 1,252‑1,346 788‑839 963‑1,011 313‑345 122‑134 191‑211
Ghana193‑2071,054‑1,1221,292‑1,35762‑6822‑2540‑43
Guinea240‑257914‑9731,125‑1,18145‑49–45‑49
Mali101 – 1091,017‑1,0831,112‑1,1689‑10–9‑10
Tanzania461‑496681‑725902‑94785‑94–85‑94
DRC257‑277573‑610617‑648112‑124100‑10912‑15
Americas 1,006‑1,080 703‑748 957‑1,005 340‑374 95‑106 245‑268
Argentina248‑266666‑709927‑97361‑67–61‑67
Brazil503‑540692‑7371,018‑1,069157‑173–157‑173
Colombia–––10‑11–10‑11
United States of America255‑274759‑809866‑910112‑12395‑10617‑17
Australasia 562‑606 794‑845 953‑1,001 71‑78   71‑78
Australia562‑606794‑845953‑1,00171‑78–71‑78
Other–––4‑4–4‑4
AngloGold Ashanti4,000‑4,300770‑8201,000‑1,0501,000‑1,100260‑288740‑812

Based on the following assumptions: R11.6/$, $/A$0.85, BRL2.60/$; AP9.50/$; Brent crude at $70 per barrel.

  1. (2) Group level all-in sustaining cost guidance includes corporate and marketing costs.
Other illustrative estimates
$m Outlook 2015
Depreciation and amortisation860
Corporate and marketing costs95 – 110
Expensed exploration and evaluation costs (including equity-accounted associates and investments)155 – 175
Interest and finance costs (income statement)270
Interest and finance costs (cash flow)240

Planning for the future