Performance review

Economic value-added statement

For the year ended 31 December

US dollar millions%2014%2013
Economic value generated    
Gold sales and by-product income(1)995,350995,646
Interest received124139
Royalties received418
Profit from sale of assets(2)232
Income from investments7
Total economic value generated1005,4011005,712
Economic value distributed    
Operating costs(3)462,464432,484
Employee salaries, wages and other benefits301,588281,593
Payments to providers of capital52786336
– Finance costs and unwinding of obligations52785296
– Dividends140
Corporate taxation        
– Current taxation (4)31652134
Community and social investments (5)14127
Loss from investments(6)20
Total economic value distributed844,529804,574
Economic value retained (7)16872201,138
  1. (1) Gold sales decreased by 5% year-on-year due to a 10% lower average price received of $1,264/oz, partially negated by a 9% increase in the ounces sold.
  2. (2) Includes a loss on sale of Navachab mine of $2m.
  3. (3) Includes retrenchment costs at Obuasi of $210m in 2014 (2013: nil).
  4. (4) Current tax charge (credit) by country is as follows:
US dollar millions20142013
South Africa30(18)
Argentina2436
Australia(2)
Brazil3156
Ghana21
Guinea3122
United States of America(5)
Tanzania6532
Other(13)7
  1. (5) Community and social investments exclude expenditure by equity accounted joint ventures.
  2. (6) Includes $21m loan impairment and $45m net equity losses from Rand Refinery (Pty) Limited.
  3. (7) Economic value retained excludes impairments and impairment reversals.
Five-year financial summaries Regional reviews