Navigating regulatory and political risks

This engagement is fundamental to retaining our SLO and to ensuring we can provide shared value to all stakeholders.

We continue to monitor the changing political landscape in our operating jurisdictions, which in some cases has included changes in government. Regulatory changes stemming from the COVID-19 pandemic have also introduced political tensions in some of the countries in which we operate.

Youth activism in politics is on the rise, ostensibly due to high rates of unemployment and stagnant or contracting economies. Citizens are generally also demanding a more responsive and inclusive approach from incumbent politicians. Like many peers in the extractive industries, AngloGold Ashanti continues to be confronted with multiple stakeholder demands and expectations from various sectors of society. We have developed a multi-stakeholder approach towards the development and execution of socio-economic development initiatives, working with governments, communities, traditional and other leaders, as well as civil society to determine the most effective way to invest in these programmes.

Our engagement with host communities remains a priority. We partner with these groups on key developmental and societal issues – including in the fight against COVID-19 – to ensure compliance with in-country requirements on local content. We support government-backed moves to formalise ASM in Guinea, Tanzania, Ghana and Colombia.

West Africa has experienced a general rise in political activism alongside a number of recent coups d’état, including the August overthrow of the government in Guinea and two successive coups in neighbouring Mali. These military-led revolts have been condemned by the Economic Community of West African States (ECOWAS) and the African Union community.

Amid the uncertainty of this operating environment, ensuring transparency, due process and ongoing compliance with the laws of the countries in which we operate is critical to ensuring both our legal and social licences to operate are maintained.

Through understanding countries’ political frameworks and monitoring change we can assess potential risks. These risk profiles are tracked through six strategic focus areas:

  • Societal contribution as a responsible corporate citizen
  • Strengthening the value chain and local procurement
  • Innovative business and Operating Model design
  • Leveraging existing capabilities for economic succession
  • Skills development, localisation and talent management
  • Meaningful communication and engagement

We work to maintain relationships in an evolving landscape and keep channels of communication open at all levels. We also work with with international bodies where their proposals align with our values, such as the United Nations, the African Union and ECOWAS. We aim to work with other intergovernmental organisations such as the Intergovernmental Forum on Mining, Minerals, Metals and Sustainable Development, the Organisation for Economic Co-operation and Development (OECD) as they develop global normative standards that provide guiding frameworks to national policy choices.

Payments to governments* ($ million) RA

20212020201920182017
Argentina137.4130.8131.3112.5151.7
Australia123.5129.294.782.574.0
Brazil202.9138.6109.1107.4126.0
Colombia14.612.311.19.711.8
DRC77.770.669.832.527.8
Ghana 102.2161.986.247.537.7
Guinea54.853.032.778.3100.2
Mali25.819.925.524.7
Tanzania 241.7326.1190.0168.1141.0
USA3.54.25.04.77.7

* Excludes South African operations to date of sale

Managing political risks through consistent and comprehensive stakeholder engagement strategies, and continually building and nurturing relationships at local and national government levels and across communities, is of the utmost importance.

Prioritised SDGs


Indicator20212020201920182017
Payments to Government ($ million)
Argentina137.40130.80131.30112.50151.70
Dividends paid to the government8.705.906.906.309
Taxation paid54.8030.3045.1029.4070.50
Withholding tax (STC, royalties, etc.)20.4024.2019.3032.9034.10
Other indirect taxes and duties32.602.602.404.50
Employee taxes and other contributions14.5013.4013.1015.9022.80
Property tax00000.10
Other3654.5044.2025.6010.70
Australia123.50129.2094.7082.5074
Taxation paid59.9068.7040.303627.50
Withholding tax (STC, royalties, etc.)22.5024.6021.1018.4018.60
Employee taxes and other contributions41.2035.9033.4028.1027.90
Brazil202.90138.60109.10107.40126
Taxation paid118.307234.403645.30
Withholding tax (STC, royalties, etc.)19.8012.1011.6011.4014.40
Other indirect taxes and duties11.206.707.8068.10
Employee taxes and other contributions39.3034.3042.504248.30
Property tax2.501.402.201.702.20
Other11.7012.2010.5010.107.70
Colombia14.6012.3011.109.7011.80
Taxation paid00000.40
Withholding tax (STC, royalties, etc.)5.905.905.203.404.20
Other indirect taxes and duties0.200.200.100.200.10
Employee taxes and other contributions6.804.804.5045.10
Property tax0.500.300.300.300.20
Other1.301.1011.901.80
DRC77.7070.6069.8032.5027.80
Taxation paid0012.6005.20
Withholding tax (STC, royalties, etc.)3729.1023.4012.309.20
Other indirect taxes and duties1517.8012.309.805.10
Employee taxes and other contributions15.2013.109.904.703.80
Property tax00000
Other10.5010.6011.505.804.50
Ghana102.20161.9086.2047.5037.70
Dividends paid to the government00000
Taxation paid38.60974521.1013.70
Withholding tax (STC, royalties, etc.)39.5043.5022.1012.1012.60
Other indirect taxes and duties2.903.804.403.202
Employee taxes and other contributions20.9017.3014.70119.30
Property tax0.300.300.100.100.10
Guinea54.805332.7078.30100.20
Dividends paid to the government10.905.302.208.309.80
Taxation paid032.103540.10
Withholding tax (STC, royalties, etc.)27.4022.7015.102221.60
Other indirect taxes and duties3.904.102.401.7020
Employee taxes and other contributions10.2010.2010.9011.308.60
Other2.407.700.100.100.10
Mali025.8019.9025.5024.70
Dividends paid to the government01.300.900.800.50
Taxation paid09.702.9044.10
Withholding tax (STC, royalties, etc.)05.106.207.407.30
Other indirect taxes and duties03.702.904.604.40
Employee taxes and other contributions05.106.107.907.40
Property tax00.500.500.500.60
Other00.400.400.400.40
South Africa063.5079.5091.30118.10
Taxation paid00000
Withholding tax (STC, royalties, etc.)00.401.8024.80
Employee taxes and other contributions059.5073.4083105
Property tax02.301.903.103.40
Other01.202.503.204.90
Tanzania241.70326.10190168.10141
Taxation paid106.30154.3082.6056.4051.10
Withholding tax (STC, royalties, etc.)88.50131.6077.9081.8047.70
Other indirect taxes and duties5.303.103.40515.30
Employee taxes and other contributions30.6029.4023.1021.2022.10
Other117.802.903.804.80
USA3.504.2054.707.70
Taxation paid00000
Withholding tax (STC, royalties, etc.)00000
Employee taxes and other contributions3.504.204.904.707.70
Property tax00000
Other (severance tax, production mine tax)00000
Total value of political contributions ($ million)
Group00000
Brazil00000
Colombia00000
Financial assistance from government ($ million)
Argentina0009.307.10
Cerro Vanguadia0009.307.10
Australia24.602121.1020.1019.80
Sunrise Dam (diesel fuel rebate)6.204.503.404.503.90
Tropicana (diesel fuel rebate)18.4016.5017.8015.6015.90
South Africa01.601.602.103.40
Skills development levy credits00.100.600.400.80
Mining qualification association discretionary grant01.5011.702.60
AngloGold Ashanti Health00000.10
State-aided drugs00000.10
Operations assessed for risk related to corruption (%)
Operations assessed for risk related to corruption (%)03877100100
Confirmed incidents in which employees were dismissed or disciplined for corruption (number)
Number of confirmed incidents in which employees were dismissed or disciplined for corruption00110
Confirmed incidents of corruption and action taken00410
Contracts with business partners that were terminated due to violations related to corruption (number)
Number of contracts with business partners that were terminated due to violations related to corruption001824
Report public legal cases of corruption brought against the organisation or its employees00000
Monetary value of significant fines00000
Total number of non monetary sanctions01000

*Excludes South African operations to date of sale

Indicator 2021
Significant risk related to corruption identified through risk assessment 0.00 As with any multi-national extractives organization that operates in high-risk jurisdictions, risks were identified related to our suppliers, agents & intermediaries, interactions with government officials, procurement generally, conflicts of interest, etc.
Communication and training on anti-corruption policies and procedures 0.00 AngloGold Ashanti rolls out group wide anti-corruption training to its employees every two years. The previous group wide roll out was in 2020 and the next group wide roll out will be in 2022. in addition all new employees receive training upon joining the organization and in 2021, over 100 employees/governance body members successfully completed the training (which included rigorous assessments). The training covers Anti-Bribery and Anti-Corruption; Payments to Government Officials, Gifts, Hospitality and Sponsorships, Engagement of Agents and Intermediaries, Conflicts of Interest, Reporting Wrongdoing, and Political Donations and Political Activities. In addition Group wide communication on anti-corruption such as through posters, corporate email communications, compliance intranet portal communications, and SMS communications in certain jurisdictions are used to communicate to all employees.
Minerals Revenue disclosure1 2021 2020 2019 2018 2017
Number of mineral development contracts granted or entered into with host governments 0 N/A N/A N/A N/A
  1. Mineral development contracts granted or entered into from 1 January 2021 with host governments (where such disclosure is not prohibited)
AngloGold Ashanti