AngloGold Ashanti Releases Preliminary Unaudited Condensed Consolidated Financial Statements as of and for the Six Months and the Year Ended 31 December 2023
Announces Annual General Meeting Date and Restatement of Previously Issued Financial Statements
FY 2023 Financial and Operating Update
The FY 2023 Earnings Release should be read together with AngloGold Ashanti’s preliminary financial update for the six months and the year ended
Announcement of Annual General Meeting Date
The 2024 Annual General Meeting of
Non-Reliance on and Restatement of Previously Issued Financial Statements
As previously reported in the FY 2023 Preliminary Financial Update, during the FY 2023 year-end audit process,
GROUP - Key statistics |
||||||||||||||||
Six months
|
Six months
|
Six months
|
Year ended
|
Year ended
|
||||||||||||
Restated(2) |
Restated(2) |
Restated(2) |
||||||||||||||
|
|
US Dollar / Imperial |
|
|
||||||||||||
Financial review |
|
|
|
|
||||||||||||
(Loss) profit before taxation |
- $m |
(13 |
) |
76 |
62 |
|
63 |
|
472 |
|||||||
Adjusted EBITDA* |
- $m |
744 |
|
676 |
923 |
|
1,420 |
|
1,792 |
|||||||
(Loss) profit attributable to equity shareholders |
- $m |
(196 |
) |
(39 |
) |
(69 |
) |
(235 |
) |
233 |
||||||
|
- US cents/share |
(47 |
) |
(9 |
) |
(16 |
) |
(56 |
) |
55 |
||||||
Headline (loss) earnings(1) |
- $m |
(107 |
) |
61 |
185 |
|
(46 |
) |
489 |
|||||||
- US cents/share |
(25 |
) |
14 |
44 |
|
(11 |
) |
116 |
||||||||
Total borrowings |
- $m |
2,410 |
|
2,091 |
2,169 |
|
2,410 |
|
2,169 |
|||||||
Adjusted net debt* |
- $m |
1,268 |
|
1,194 |
878 |
|
1,268 |
|
878 |
|||||||
Total borrowings to profit (loss) before taxation |
- times |
38.25 |
|
15.15 |
|
4.60 |
|
38.25 |
|
4.60 |
||||||
Adjusted net debt* to Adjusted EBITDA* |
- times |
0.89 |
|
0.75 |
0.49 |
|
0.89 |
|
0.49 |
(1) The financial measures “headline (loss) earnings” and “headline (loss) earnings per share” are not calculated in accordance with IFRS. These measures, however, are required to be disclosed by the
(2) For further information, refer to “Non-Reliance on and Restatement of Previously Issued Financial Statements” on pages 2 to 6 below.
* Refer to “Non-GAAP disclosure” for definitions and reconciliations.
$ represents US Dollar, unless otherwise stated.
Rounding of figures may result in computational discrepancies.
FINANCIAL REVIEW
Full year review
Earnings
The basic loss (loss attributable to equity shareholders) for the year ended
Headline loss‡ for the year ended
Adjusted EBITDA*
Adjusted earnings before interest, tax, depreciation and amortisation (“Adjusted EBITDA”)* for the year ended
Balance Sheet
Adjusted net debt* increased to
Second half year review
Earnings
The basic loss (loss attributable to equity shareholders) for the second half of 2023 was
Headline loss‡ for the second half of 2023 was
Adjusted EBITDA*
Adjusted EBITDA* was
‡ The financial measures “headline (loss) earnings” and “headline (loss) earnings per share” are not calculated in accordance with IFRS. These measures, however, are required to be disclosed by the
* Refer to “Non-GAAP disclosure” for definitions and reconciliations.
NON-RELIANCE ON AND RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS
As previously announced in the FY 2023 Preliminary Financial Update, on
The Company has concluded that the Affected Financials contained an error related to the reported amount of the deferred tax asset with regard to the Obuasi mine. The Company believes the error relates to an incorrect interpretation of Ghanaian tax law with respect to the Obuasi mine, combined with the use of incorrect underlying data in the deferred tax model and the potential misapplication of the requirements of International Financial Reporting Standards (“IFRS”), as issued by the
Following further discussions regarding this matter with
The Audit Committee has discussed the matters described herein with management, with
As previously announced in the FY 2023 Preliminary Financial Update, similarly, any press releases, earnings releases, and investor communications describing the Company’s financial performance for the above-referenced periods should no longer be relied upon.
Schedules of Affected Items
The following tables summarise the previously reported amounts affected by the errors identified, as well as the preliminary estimated adjustments and the preliminary estimated restated amounts.
GROUP – INCOME STATEMENT |
|||||||||
US Dollar million |
Year ended |
||||||||
|
Previously reported |
|
Adjustment Unaudited |
|
Restated Unaudited |
||||
Cost of sales |
(3,362 |
) |
(4 |
) |
(3,366 |
) |
|||
Gross profit |
1,133 |
|
(4 |
) |
1,129 |
|
|||
Impairment, derecognition of assets and profit (loss) on disposal |
(304 |
) |
(11 |
) |
(315 |
) |
|||
Foreign exchange and fair value adjustments |
(128 |
) |
3 |
|
(125 |
) |
|||
Share of associates and joint ventures' profit |
166 |
|
(5 |
) |
161 |
|
|||
Profit before taxation |
489 |
|
(17 |
) |
472 |
|
|||
Taxation |
(173 |
) |
(48 |
) |
(221 |
) |
|||
Profit for the year |
316 |
|
(65 |
) |
251 |
|
|||
Earnings attributable to equity shareholders |
297 |
|
(64 |
) |
233 |
|
|||
Earnings attributable to non-controlling interests |
19 |
|
(1 |
) |
18 |
|
|||
Earnings per share |
|
|
|
||||||
Basic earnings per ordinary share (US cents) |
71 |
|
(16 |
) |
55 |
|
|||
Diluted earnings per ordinary share (US cents) |
71 |
|
(16 |
) |
55 |
|
|||
Headline earnings (1) |
544 |
|
(55 |
) |
489 |
|
|||
Headline earnings per share (1)
|
129 |
|
(13 |
) |
116 |
|
|||
Diluted headline earnings per ordinary share (US cents) (1)(3) |
129 |
|
(13 |
) |
116 |
|
|||
Basic weighted average number of shares |
420,197,062 |
|
— |
|
420,197,062 |
|
|||
Diluted weighted average number of shares |
420,869,866 |
|
— |
|
420,869,866 |
|
(1) The financial measures “headline earnings” and “headline earnings per share” are not calculated in accordance with IFRS. These measures, however, are required to be disclosed by the
(2) Calculated on the basic weighted average number of ordinary shares.
(3) Calculated on the diluted weighted average number of ordinary shares.
GROUP – INCOME STATEMENT |
|||||||||
US Dollar million |
Six months ended |
||||||||
|
Previously reported |
Adjustment Unaudited |
Restated Unaudited |
||||||
Restructuring, care & maintenance and other (expenses) income |
(58 |
) |
(10 |
) |
(68 |
) |
|||
Share of associates and joint ventures' profit |
75 |
|
9 |
|
84 |
|
|||
Profit before taxation |
77 |
|
(1 |
) |
76 |
|
|||
Taxation |
(32 |
) |
(79 |
) |
(111 |
) |
|||
Profit (loss) for the year |
45 |
|
(80 |
) |
(35 |
) |
|||
Earnings (loss) attributable to equity shareholders |
40 |
|
(79 |
) |
(39 |
) |
|||
Earnings attributable to non-controlling interests |
5 |
|
(1 |
) |
4 |
|
|||
Earnings per share |
|
|
|
||||||
Basic earnings (loss) per ordinary share (US cents) |
10 |
|
(19 |
) |
(9 |
) |
|||
Diluted earnings (loss) per ordinary share (US cents) |
10 |
|
(19 |
) |
(9 |
) |
|||
Headline earnings (1) |
140 |
|
(79 |
) |
61 |
|
|||
Headline earnings per share (1)
|
33 |
|
(19 |
) |
14 |
|
|||
Diluted headline earnings per ordinary share (US cents) (1)(3) |
33 |
|
(19 |
) |
14 |
|
|||
Basic weighted average number of shares |
420,818,545 |
|
— |
|
420,818,545 |
|
|||
Diluted weighted average number of shares |
421,077,248 |
|
(258,703 |
) |
420,818,545 |
|
(1) The financial measures “headline earnings” and “headline earnings per share” are not calculated in accordance with IFRS. These measures, however, are required to be disclosed by the
(2) Calculated on the basic weighted average number of ordinary shares.
(3) Calculated on the diluted weighted average number of ordinary shares.
GROUP – STATEMENT OF FINANCIAL POSITION |
|||||||
US Dollar million |
|
As at |
|
||||
Previously reported |
Adjustment |
Restated |
|||||
|
|
Unaudited |
Unaudited |
||||
Assets |
|
|
|
||||
Non-current assets |
|
|
|
||||
Tangible assets |
4,209 |
(1 |
) |
4,208 |
|||
Investments in associates and joint ventures |
1,100 |
(9 |
) |
1,091 |
|||
Deferred taxation |
72 |
(49 |
) |
23 |
|||
Equity and liabilities |
|
|
|
||||
Shareholders' equity |
4,100 |
(60 |
) |
4,040 |
|||
Non-controlling interests |
34 |
1 |
|
35 |
|||
Non-current liabilities |
|
|
|
||||
Lease liabilities |
102 |
13 |
|
115 |
|||
Environmental rehabilitation and other provisions |
634 |
(38 |
) |
596 |
|||
Current liabilities |
|
|
|
||||
Lease liabilities |
84 |
(13 |
) |
71 |
|||
Environmental rehabilitation and other provisions |
42 |
39 |
|
81 |
|||
|
|
|
|
||||
US Dollar million |
|
As at |
|
||||
|
Previously reported |
|
Adjustment |
|
Restated |
||
|
|
|
|
Unaudited |
|
Unaudited |
|
Assets |
|
|
|
||||
Non-current assets |
|
|
|
||||
Tangible assets |
4,277 |
(11 |
) |
4,266 |
|||
Deferred taxation |
146 |
(105 |
) |
41 |
|||
Equity and liabilities |
|
|
|
||||
Shareholders' equity |
4,048 |
(139 |
) |
3,909 |
|||
Non-current liabilities |
|
|
|
||||
Deferred taxation |
318 |
23 |
|
341 |
The restated amounts shown herein are preliminary, unaudited and unreviewed and may be subject to change as the Company completes its procedures and prepares the restatements of the Affected Financials, and the independent registered public accounting firms,
Controls and Procedures
As previously disclosed in the FY 2023 Preliminary Financial Update, as a result of the errors described above and the related restatements, management has identified one or more material weaknesses in the Company’s internal control over financial reporting. Management has accordingly concluded that the Company’s internal control over financial reporting was not effective as of
Neither management nor
Other Information
The Company believes that in light of its intention to file the 2023 Form 20-F in the next few weeks, it is preferable to present any restated Original Full-Year 2022 Financial Statements together with the Company’s audited consolidated financial statements as of and for the year ended
CORPORATE UPDATE
Tropicana Rainfall Event
Gold production at the Tropicana gold mine in
The area in which the Tropicana gold mine is located received more than 350mm of rain in a 72-hour period from 9 March, almost 50% higher than its average annual rainfall. The subsequent flooding interrupted power supply to the processing plant and required mining operations to be temporarily suspended. Power has been restored to the site and access to the underground mine has resumed. However, mining from the open pits remains restricted until surface water is cleared through pumping and evaporation. There have been no safety incidents during this period and the mine infrastructure remains sound. The supply road to the Tropicana gold mine is flooded in parts and the processing plant is treating stockpiled ore at a reduced throughput rate. Processing may have to be suspended if consumable stocks at the site are exhausted before the road reopens.
While
By order of the Board |
|
|
||
M RAMOS |
A CALDERON |
G DORAN |
||
Chairperson |
Chief Executive Officer |
Chief Financial Officer |
||
|
GROUP – INCOME STATEMENT |
|
||||||||||||||
|
Six months |
Six months |
Six months |
Year |
Year |
||||||||||
|
ended |
ended |
ended |
ended |
ended |
||||||||||
|
Dec |
Jun |
Dec |
Dec |
Dec |
||||||||||
|
2023 |
2023 |
2022 |
2023 |
2022 |
||||||||||
|
Unaudited |
Unaudited |
Unaudited |
Unaudited |
Unaudited |
||||||||||
US Dollar million |
|
Restated |
Restated |
|
Restated |
||||||||||
Revenue from product sales |
2,396 |
|
2,186 |
|
2,346 |
|
4,582 |
|
4,501 |
|
|||||
Cost of sales |
(1,792 |
) |
(1,749 |
) |
(1,771 |
) |
(3,541 |
) |
(3,366 |
) |
|||||
Loss on non-hedge derivatives and other commodity contracts |
(12 |
) |
(2 |
) |
(6 |
) |
(14 |
) |
(6 |
) |
|||||
Gross profit |
592 |
|
435 |
|
569 |
|
1,027 |
|
1,129 |
|
|||||
Corporate administration, marketing and related expenses |
(50 |
) |
(44 |
) |
(37 |
) |
(94 |
) |
(79 |
) |
|||||
Exploration and evaluation costs |
(142 |
) |
(112 |
) |
(121 |
) |
(254 |
) |
(205 |
) |
|||||
Impairment, derecognition of assets and profit (loss) on disposal |
(95 |
) |
(126 |
) |
(313 |
) |
(221 |
) |
(315 |
) |
|||||
Restructuring, care & maintenance and other (expenses) income (1) |
(350 |
) |
(68 |
) |
(13 |
) |
(418 |
) |
(26 |
) |
|||||
Finance income |
70 |
|
57 |
|
50 |
|
127 |
|
81 |
|
|||||
Foreign exchange and fair value adjustments |
(79 |
) |
(75 |
) |
(72 |
) |
(154 |
) |
(125 |
) |
|||||
Finance costs and unwinding of obligations |
(82 |
) |
(75 |
) |
(84 |
) |
(157 |
) |
(149 |
) |
|||||
Share of associates and joint ventures’ profit |
123 |
|
84 |
|
83 |
|
207 |
|
161 |
|
|||||
(Loss) profit before taxation |
(13 |
) |
76 |
|
62 |
|
63 |
|
472 |
|
|||||
Taxation |
(174 |
) |
(111 |
) |
(127 |
) |
(285 |
) |
(221 |
) |
|||||
(Loss) profit for the period |
(187 |
) |
(35 |
) |
(65 |
) |
(222 |
) |
251 |
|
|||||
Allocated as follows: |
|
|
|
|
|
||||||||||
Equity shareholders |
(196 |
) |
(39 |
) |
(69 |
) |
(235 |
) |
233 |
|
|||||
Non-controlling interests |
9 |
|
4 |
|
4 |
|
13 |
|
18 |
|
|||||
|
(187 |
) |
(35 |
) |
(65 |
) |
(222 |
) |
251 |
|
|||||
Basic (loss) earnings per ordinary share (US cents) (2) |
(47 |
) |
(9 |
) |
(16 |
) |
(56 |
) |
55 |
||||||
Diluted (loss) earnings per ordinary share (US cents) (3) |
(47 |
) |
(9 |
) |
(16 |
) |
(56 |
) |
55 |
|
(1) Restructuring, care & maintenance and other (expenses) income for the second half of 2023 was
(2) Calculated on the basic weighted average number of ordinary shares.
(3) Calculated on the diluted weighted average number of ordinary shares.
The operating profit (loss) sub-total which was previously included in the presentation of the income statement has been removed as it is not an IFRS measure and not considered relevant to users of the annual financial statements.
GROUP – STATEMENT OF FINANCIAL POSITION |
||||||
At Dec |
At Jun |
At Dec |
||||
2023 |
2023 |
2022 |
||||
US Dollar million |
Unaudited |
Unaudited |
Unaudited |
|||
|
|
Restated |
Restated |
|||
ASSETS |
|
|
|
|||
Non-current assets |
|
|
|
|||
Tangible assets |
4,419 |
4,266 |
4,208 |
|||
Right of use assets |
142 |
152 |
156 |
|||
Intangible assets |
107 |
104 |
106 |
|||
Investments in associates and joint ventures |
599 |
1,129 |
1,091 |
|||
Other investments |
1 |
1 |
3 |
|||
Loans receivable |
358 |
— |
— |
|||
Inventories |
2 |
4 |
5 |
|||
Trade, other receivables and other assets |
254 |
222 |
231 |
|||
Reimbursive right for post-retirement benefits |
35 |
12 |
12 |
|||
Deferred taxation |
50 |
41 |
23 |
|||
Cash restricted for use |
34 |
34 |
33 |
|||
|
6,001 |
5,965 |
5,868 |
|||
Current assets |
|
|
|
|||
Loans receivable |
148 |
— |
— |
|||
Inventories |
829 |
800 |
773 |
|||
Trade, other receivables and other assets |
199 |
317 |
237 |
|||
Cash restricted for use |
34 |
25 |
27 |
|||
Cash and cash equivalents |
964 |
722 |
1,108 |
|||
|
2,174 |
1,864 |
2,145 |
|||
|
|
|
|
|||
Total assets |
8,175 |
7,829 |
8,013 |
|||
EQUITY AND LIABILITIES |
|
|
|
|||
Share capital and premium |
420 |
— |
— |
|||
Accumulated profits and other reserves |
3,291 |
3,909 |
4,040 |
|||
Shareholders’ equity |
3,711 |
3,909 |
4,040 |
|||
Non-controlling interests |
29 |
33 |
35 |
|||
Total equity |
3,740 |
3,942 |
4,075 |
|||
Non-current liabilities |
|
|
|
|||
Borrowings |
2,032 |
1,896 |
1,965 |
|||
Lease liabilities |
98 |
106 |
115 |
|||
Environmental rehabilitation and other provisions |
636 |
611 |
596 |
|||
Provision for pension and post-retirement benefits |
64 |
68 |
71 |
|||
Trade and other payables |
5 |
8 |
7 |
|||
Deferred taxation |
395 |
341 |
300 |
|||
|
3,230 |
3,030 |
3,054 |
|||
Current liabilities |
|
|
|
|||
Borrowings |
207 |
17 |
18 |
|||
Lease liabilities |
73 |
72 |
71 |
|||
Environmental rehabilitation and other provisions |
80 |
103 |
81 |
|||
Trade and other payables |
772 |
641 |
667 |
|||
Taxation |
64 |
19 |
45 |
|||
Bank overdraft |
9 |
5 |
2 |
|||
|
1,205 |
857 |
884 |
|||
|
|
|
|
|||
Total liabilities |
4,435 |
3,887 |
3,938 |
|||
|
|
|
|
|||
Total equity and liabilities |
8,175 |
7,829 |
8,013 |
GROUP – STATEMENT OF CASH FLOWS |
|||||||||||||||
Six months ended Dec |
|
Six months ended Jun |
|
Six months ended Dec |
|
Year ended Dec |
|
Year ended Dec |
|||||||
US Dollar million |
2023 Unaudited |
|
2023 Unaudited |
|
2022 Unaudited |
|
2023 Unaudited |
|
2022 Unaudited |
||||||
Cash flows from operating activities
|
555 |
316 |
714 |
871 |
1,244 |
||||||||||
Dividends received from joint ventures |
143 |
|
37 |
|
145 |
|
180 |
|
694 |
|
|||||
Taxation refund |
36 |
|
— |
|
32 |
|
36 |
|
32 |
|
|||||
Taxation paid |
(56 |
) |
(60 |
) |
(79 |
) |
(116 |
) |
(166 |
) |
|||||
Net cash inflow from operating activities |
678 |
|
293 |
|
812 |
|
971 |
|
1,804 |
|
|||||
Cash flows from investing activities
|
(589 |
) |
(453 |
) |
(594 |
) |
(1,042 |
) |
(1,028 |
) |
|||||
Interest capitalised and paid |
— |
|
— |
|
(1 |
) |
— |
|
(2 |
) |
|||||
Acquisition of assets |
— |
|
— |
|
(152 |
) |
— |
|
(517 |
) |
|||||
Dividends from associates and other investments |
6 |
|
6 |
|
10 |
|
12 |
|
18 |
|
|||||
Proceeds from disposal of tangible assets |
8 |
|
6 |
|
8 |
|
14 |
|
8 |
|
|||||
Other investments and assets acquired |
— |
|
— |
|
— |
|
— |
|
(16 |
) |
|||||
Proceeds from disposal of other investments |
20 |
|
— |
|
— |
|
20 |
|
— |
|
|||||
Loans advanced |
— |
|
(1 |
) |
(1 |
) |
(1 |
) |
(1 |
) |
|||||
(Increase) decrease in cash restricted for use |
(8 |
) |
(1 |
) |
6 |
|
(9 |
) |
(4 |
) |
|||||
Interest received |
60 |
|
49 |
|
49 |
|
109 |
|
81 |
|
|||||
Net cash outflow from investing activities |
(503 |
) |
(394 |
) |
(675 |
) |
(897 |
) |
(1,461 |
) |
|||||
Cash flows from financing activities
|
(19 |
) |
— |
— |
(19 |
) |
— |
||||||||
Proceeds from borrowings |
335 |
|
8 |
|
64 |
|
343 |
|
266 |
|
|||||
Repayment of borrowings |
(13 |
) |
(74 |
) |
(88 |
) |
(87 |
) |
(184 |
) |
|||||
Repayment of lease liabilities |
(50 |
) |
(44 |
) |
(42 |
) |
(94 |
) |
(82 |
) |
|||||
Finance costs - borrowings |
(55 |
) |
(56 |
) |
(50 |
) |
(111 |
) |
(99 |
) |
|||||
Finance costs - leases |
(6 |
) |
(5 |
) |
(5 |
) |
(11 |
) |
(10 |
) |
|||||
Other borrowing costs |
— |
|
(1 |
) |
— |
|
(1 |
) |
(11 |
) |
|||||
Dividends paid |
(31 |
) |
(76 |
) |
(134 |
) |
(107 |
) |
(203 |
) |
|||||
Net cash inflow (outflow) from financing activities |
161 |
|
(248 |
) |
(255 |
) |
(87 |
) |
(323 |
) |
|||||
Net increase (decrease) in cash and cash equivalents |
336 |
(349 |
) |
(118 |
) |
(13 |
) |
20 |
|||||||
Translation |
(98 |
) |
(40 |
) |
(42 |
) |
(138 |
) |
(68 |
) |
|||||
Cash and cash equivalents at beginning of period |
717 |
|
1,106 |
|
1,266 |
|
1,106 |
|
1,154 |
|
|||||
Cash and cash equivalents at end of period |
955 |
|
717 |
|
1,106 |
|
955 |
|
1,106 |
Headline (loss) earnings (1) | |||||||||||||||
Six months |
Six months |
Six months |
Year ended |
Year ended |
|||||||||||
ended Dec |
ended Jun |
ended Dec |
Dec |
Dec |
|||||||||||
2023 |
2023 |
2022 |
2023 |
2022 |
|||||||||||
Unaudited |
Unaudited |
Unaudited |
Unaudited |
Unaudited |
|||||||||||
US Dollar million |
|
Restated |
Restated |
|
Restated |
||||||||||
|
|
|
|
|
|
||||||||||
The (loss) profit attributable to equity shareholders has been adjusted by the following to arrive at headline (loss) earnings: |
|||||||||||||||
(Loss) profit attributable to equity shareholders |
(196 |
) |
(39 |
) |
(69 |
) |
(235 |
) |
233 |
|
|||||
Net impairment on tangible assets and right of use assets |
100 |
|
92 |
|
315 |
|
192 |
|
315 |
|
|||||
Taxation on net impairment of tangible assets and right of use assets |
(7 |
) |
(21 |
) |
(60 |
) |
(28 |
) |
(60 |
) |
|||||
(Profit) loss on derecognition of assets |
(3 |
) |
38 |
|
2 |
|
35 |
|
4 |
|
|||||
Taxation on derecognition of assets |
1 |
|
(6 |
) |
— |
|
(5 |
) |
— |
|
|||||
Profit on disposal of tangible assets |
(2 |
) |
(4 |
) |
(4 |
) |
(6 |
) |
(4 |
) |
|||||
Net impairment on investments |
— |
|
1 |
|
1 |
|
1 |
|
1 |
|
|||||
Headline (loss) earnings |
(107 |
) |
61 |
|
185 |
|
(46 |
) |
489 |
|
|||||
Headline (loss) earnings per ordinary share (US cents) (2) |
(25 |
) |
14 |
|
44 |
|
(11 |
) |
116 |
|
|||||
Diluted headline (loss) earnings per ordinary share (US cents) (3) |
(25 |
) |
14 |
|
44 |
|
(11 |
) |
116 |
|
|||||
Number of shares |
|
|
|
|
|
||||||||||
Weighted average number of shares |
420,971,227 |
|
420,818,545 |
|
420,074,065 |
|
421,105,111 |
|
420,197,062 |
|
|||||
Dilutive potential of share options |
— |
|
— |
|
— |
|
— |
|
672,804 |
|
|||||
Dilutive weighted average number of ordinary shares |
420,971,227 |
|
420,818,545 |
|
420,074,065 |
|
421,105,111 |
|
420,869,866 |
|
(1) The financial measures “headline (loss) earnings” and “headline (loss) earnings per share” are not calculated in accordance with IFRS. These measures, however, are required to be disclosed by the
(2) Calculated on the basic weighted average number of ordinary shares.
(3) Calculated on the diluted weighted average number of ordinary shares.
Non-GAAP disclosure
From time to time
In this document,
Adjusted EBITDA
“Adjusted EBITDA” is a Non-GAAP measure and, as calculated and reported by
Adjusted net debt
“Adjusted net debt” is a Non-GAAP measure and, as calculated and reported by
Average gold price received per ounce
“Average gold price received per ounce” is a Non-GAAP measure which gives an indication of revenue earned per ounce of gold sold and includes gold income and realised non-hedge derivatives in its calculation and serves as a benchmark of performance against the market spot gold price. This metric is calculated by dividing attributable gold income (“price received”) by attributable ounces of gold sold.
Reconciliations
A reconciliation of profit (loss) before taxation as included in AngloGold Ashanti’s preliminary unaudited condensed consolidated financial statements as of and for the six months and the year ended
A reconciliation of total borrowings as included in AngloGold Ashanti’s preliminary unaudited condensed consolidated financial statements as of and for the six months and the year ended
A reconciliation of gold income as included in AngloGold Ashanti’s preliminary unaudited condensed consolidated financial statements as of and for the six months and the year ended
A Adjusted EBITDA
For the six months ended
(in US Dollar million, except as otherwise noted)
|
|
|
|
|
|
|
|
|
|||||||||||||
|
Corporate and other |
Kibali |
Iduapriem |
Obuasi |
Siguiri |
Geita |
|
|
|
Tropicana |
|
|
|
AngloGold Ashanti Mineração |
|
|
|
Projects |
Sub-total |
Less equity accounted investments |
Group |
Adjusted EBITDA (1) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit (loss) before taxation |
(359) |
150 |
86 |
39 |
13 |
199 |
19 |
506 |
45 |
85 |
(42) |
88 |
143 |
8 |
(107) |
(112) |
(68) |
(126) |
41 |
(54) |
(13) |
Add back: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Finance costs and unwinding of obligations |
45 |
(2) |
1 |
4 |
5 |
13 |
— |
21 |
— |
1 |
4 |
5 |
2 |
5 |
1 |
— |
8 |
1 |
80 |
2 |
82 |
Finance income |
(12) |
(1) |
— |
— |
(4) |
(7) |
— |
(12) |
— |
— |
(2) |
(2) |
(43) |
(1) |
— |
— |
(44) |
(1) |
(71) |
1 |
(70) |
Amortisation of tangible, right of use and intangible assets |
2 |
54 |
63 |
31 |
24 |
50 |
— |
222 |
32 |
65 |
1 |
98 |
20 |
46 |
24 |
— |
90 |
— |
412 |
(54) |
358 |
Other amortisation |
1 |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
10 |
(1) |
— |
9 |
1 |
11 |
— |
11 |
Associates and joint ventures share of amortisation, interest, taxation and other |
1 |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
1 |
119 |
120 |
EBITDA |
(322) |
201 |
150 |
74 |
38 |
255 |
19 |
737 |
77 |
151 |
(39) |
189 |
122 |
68 |
(83) |
(112) |
(5) |
(125) |
474 |
14 |
488 |
Adjustments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Foreign exchange and fair value adjustments |
(12) |
14 |
— |
1 |
2 |
6 |
— |
23 |
— |
— |
— |
— |
(29) |
(1) |
1 |
111 |
82 |
— |
93 |
(14) |
79 |
Care and maintenance costs |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
49 |
— |
— |
49 |
2 |
51 |
— |
51 |
Retrenchment and related costs |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
16 |
— |
— |
16 |
1 |
17 |
— |
17 |
Impairment, derecognition of assets and profit (loss) on disposal |
— |
— |
— |
— |
(5) |
— |
— |
(5) |
— |
— |
— |
— |
— |
(32) |
108 |
(1) |
75 |
25 |
95 |
— |
95 |
Unrealised non-hedge derivative loss |
11 |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
11 |
— |
11 |
Joint ventures share of costs |
— |
— |
— |
— |
— |
— |
1 |
1 |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
1 |
— |
1 |
Realised other commodity contracts |
2 |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
2 |
— |
2 |
Intergroup interest, royalty, dividend and management fees |
(15) |
22 |
4 |
— |
— |
— |
(22) |
4 |
— |
— |
5 |
5 |
— |
— |
— |
— |
— |
6 |
— |
— |
— |
Adjusted EBITDA |
(336) |
237 |
154 |
75 |
35 |
261 |
(2) |
760 |
77 |
151 |
(34) |
194 |
93 |
100 |
26 |
(2) |
217 |
(91) |
744 |
— |
744 |
(1) EBITDA (as adjusted) and prepared in terms of the formula set out in the Revolving Credit Agreements.
Rounding of figures may result in computational discrepancies.
For the six months ended
(in US Dollar million, except as otherwise noted)
|
|
|
|
|
|
|
|
|
|||||||||||||
|
Corporate and other |
Kibali |
Iduapriem |
Obuasi |
Siguiri |
Geita |
|
|
|
Tropicana |
|
|
|
AngloGold Ashanti Mineração |
|
|
|
Projects |
Sub-total |
Less equity accounted investments |
Group |
|
|
Restated |
|
|
Restated |
|
|
Restated |
|
|
|
|
|
|
|
|
|
|
Restated |
Restated |
Restated |
Adjusted EBITDA (1) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit (loss) before taxation |
(73) |
84 |
38 |
77 |
19 |
126 |
21 |
365 |
54 |
63 |
(39) |
78 |
57 |
(179) |
(26) |
(34) |
(182) |
(82) |
106 |
(30) |
76 |
Add back: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Finance costs and unwinding of obligations |
42 |
4 |
1 |
3 |
4 |
12 |
— |
24 |
— |
1 |
3 |
4 |
2 |
6 |
1 |
— |
9 |
— |
79 |
(4) |
75 |
Finance income |
(12) |
(7) |
— |
(2) |
1 |
(9) |
— |
(17) |
— |
— |
(1) |
(1) |
(32) |
(1) |
— |
(1) |
(34) |
— |
(64) |
7 |
(57) |
Amortisation of tangible, right of use and intangible assets |
2 |
45 |
66 |
30 |
15 |
41 |
— |
197 |
25 |
40 |
1 |
66 |
19 |
42 |
19 |
— |
80 |
— |
345 |
(45) |
300 |
Other amortisation |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
(8) |
— |
— |
(8) |
1 |
(7) |
— |
(7) |
Associates and joint ventures share of amortisation, interest, taxation and other |
2 |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
2 |
79 |
81 |
EBITDA |
(39) |
126 |
105 |
108 |
39 |
170 |
21 |
569 |
79 |
104 |
(36) |
147 |
46 |
(140) |
(6) |
(35) |
(135) |
(81) |
461 |
7 |
468 |
Adjustments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Foreign exchange and fair value adjustments |
3 |
7 |
4 |
5 |
2 |
9 |
1 |
28 |
— |
— |
(2) |
(2) |
11 |
4 |
3 |
37 |
55 |
(2) |
82 |
(7) |
75 |
Care and maintenance costs |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
2 |
2 |
— |
2 |
Retrenchment and related costs |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
1 |
1 |
— |
— |
2 |
— |
2 |
— |
2 |
Impairment, derecognition of assets and profit (loss) on disposal |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
121 |
9 |
(4) |
126 |
— |
126 |
— |
126 |
Unrealised non-hedge derivative loss |
(2) |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
(2) |
— |
(2) |
Realised other commodity contracts |
5 |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
5 |
— |
5 |
Intergroup interest, royalty, dividend and management fees |
(17) |
23 |
1 |
— |
— |
— |
(23) |
1 |
— |
— |
8 |
8 |
— |
(1) |
— |
— |
(1) |
9 |
— |
— |
— |
Adjusted EBITDA |
(50) |
156 |
110 |
113 |
41 |
179 |
(1) |
598 |
79 |
104 |
(30) |
153 |
58 |
(15) |
6 |
(2) |
47 |
(72) |
676 |
— |
676 |
(1) EBITDA (as adjusted) and prepared in terms of the formula set out in the Revolving Credit Agreements.
Rounding of figures may result in computational discrepancies.
For the six months ended
(in US Dollar million, except as otherwise noted)
|
|
|
|
|
|
|
|
|
|||||||||||||
|
Corporate and other |
Kibali |
Iduapriem |
Obuasi |
Siguiri |
Geita |
|
|
|
Tropicana |
|
|
|
AngloGold Ashanti Mineração |
|
|
|
Projects |
Sub-total |
Less equity accounted investments |
Group |
|
Restated |
Restated |
|
|
|
|
|
Restated |
|
|
|
|
|
|
|
|
|
|
Restated |
Restated |
Restated |
Adjusted EBITDA (1) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit (loss) before taxation |
(87) |
100 |
52 |
120 |
— |
179 |
24 |
475 |
6 |
97 |
(48) |
55 |
76 |
(224) |
(59) |
(53) |
(260) |
(76) |
107 |
(45) |
62 |
Add back: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Finance costs and unwinding of obligations |
41 |
(2) |
1 |
4 |
9 |
16 |
— |
28 |
— |
1 |
5 |
6 |
2 |
4 |
1 |
— |
7 |
— |
82 |
2 |
84 |
Finance income |
(11) |
(3) |
— |
(1) |
— |
— |
— |
(4) |
— |
— |
— |
— |
(36) |
(1) |
— |
(1) |
(38) |
— |
(53) |
3 |
(50) |
Amortisation of tangible, right of use and intangible assets |
2 |
50 |
49 |
24 |
28 |
56 |
— |
207 |
28 |
66 |
1 |
95 |
23 |
54 |
20 |
— |
97 |
— |
401 |
(50) |
351 |
Other amortisation |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
(4) |
(1) |
— |
— |
(5) |
1 |
(4) |
— |
(4) |
Associates and joint ventures share of amortisation, interest, taxation and other |
1 |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
1 |
84 |
85 |
EBITDA |
(54) |
145 |
102 |
147 |
37 |
251 |
24 |
706 |
34 |
164 |
(42) |
156 |
61 |
(168) |
(38) |
(54) |
(199) |
(75) |
534 |
(6) |
528 |
Adjustments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Foreign exchange and fair value adjustments |
8 |
(6) |
1 |
2 |
— |
(1) |
— |
(4) |
— |
— |
1 |
1 |
(1) |
4 |
— |
57 |
60 |
1 |
66 |
6 |
72 |
Retrenchment and related costs |
1 |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
1 |
1 |
— |
2 |
— |
3 |
— |
3 |
Impairment, derecognition of assets and profit (loss) on disposal |
— |
— |
— |
2 |
— |
— |
— |
2 |
— |
— |
— |
— |
— |
259 |
56 |
(4) |
311 |
— |
313 |
— |
313 |
Unrealised non-hedge derivative loss |
6 |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
6 |
— |
6 |
Joint ventures share of costs |
— |
— |
— |
— |
— |
— |
1 |
1 |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
1 |
— |
1 |
Intergroup interest, royalty, dividend and management fees |
(9) |
26 |
1 |
— |
— |
— |
(26) |
1 |
— |
1 |
4 |
5 |
— |
(2) |
— |
— |
(2) |
5 |
— |
— |
— |
Adjusted EBITDA |
(48) |
165 |
104 |
151 |
37 |
250 |
(1) |
706 |
34 |
165 |
(37) |
162 |
60 |
94 |
19 |
(1) |
172 |
(69) |
923 |
— |
923 |
(1) EBITDA (as adjusted) and prepared in terms of the formula set out in the Revolving Credit Agreements.
Rounding of figures may result in computational discrepancies.
For the year ended
(in US Dollar million, except as otherwise noted)
|
|
|
|
|
|
|
|
|
|||||||||||||
|
Corporate and other |
Kibali |
Iduapriem |
Obuasi |
Siguiri |
Geita |
|
|
|
Tropicana |
|
|
|
AngloGold Ashanti Mineração |
|
|
|
Projects |
Sub-total |
Less equity accounted investments |
Group |
Adjusted EBITDA (1) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit (loss) before taxation |
(432) |
233 |
124 |
116 |
32 |
325 |
41 |
871 |
99 |
149 |
(82) |
166 |
201 |
(170) |
(134) |
(146) |
(249) |
(209) |
147 |
(84) |
63 |
Add back: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Finance costs and unwinding of obligations |
87 |
3 |
2 |
7 |
8 |
25 |
— |
45 |
— |
2 |
8 |
10 |
4 |
9 |
3 |
1 |
17 |
1 |
160 |
(3) |
157 |
Finance income |
(25) |
(8) |
— |
(2) |
(2) |
(16) |
— |
(28) |
— |
— |
(3) |
(3) |
(75) |
(1) |
(1) |
(1) |
(78) |
(1) |
(135) |
8 |
(127) |
Amortisation of tangible, right of use and intangible assets |
5 |
99 |
129 |
61 |
39 |
91 |
— |
419 |
58 |
104 |
1 |
163 |
39 |
88 |
43 |
— |
170 |
— |
757 |
(99) |
658 |
Other amortisation |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
(1) |
1 |
— |
— |
— |
3 |
3 |
— |
3 |
Associates and joint ventures share of amortisation, interest, taxation and other |
3 |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
3 |
199 |
202 |
EBITDA |
(362) |
327 |
255 |
182 |
77 |
425 |
41 |
1,307 |
157 |
255 |
(76) |
336 |
168 |
(73) |
(89) |
(146) |
(140) |
(206) |
935 |
21 |
956 |
Adjustments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Foreign exchange and fair value adjustments |
(8) |
21 |
4 |
7 |
3 |
15 |
— |
50 |
— |
(1) |
(2) |
(3) |
(18) |
5 |
3 |
147 |
137 |
(1) |
175 |
(21) |
154 |
Care and maintenance costs |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
49 |
— |
— |
49 |
3 |
52 |
— |
52 |
Retrenchment and related costs |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
1 |
16 |
1 |
— |
18 |
1 |
19 |
— |
19 |
Impairment, derecognition of assets and profit (loss) on disposal |
— |
— |
— |
(1) |
(4) |
— |
— |
(5) |
— |
— |
— |
— |
— |
90 |
116 |
(5) |
201 |
25 |
221 |
— |
221 |
Unrealised non-hedge derivative loss |
9 |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
9 |
— |
9 |
Joint ventures share of costs |
— |
— |
— |
— |
— |
— |
2 |
2 |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
2 |
— |
2 |
Realised other commodity contracts |
7 |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
7 |
— |
7 |
Intergroup interest, royalty, dividend and management fees |
(31) |
45 |
5 |
— |
— |
— |
(45) |
5 |
— |
— |
13 |
13 |
— |
(1) |
— |
— |
(1) |
14 |
— |
— |
— |
Adjusted EBITDA |
(385) |
393 |
264 |
188 |
76 |
440 |
(2) |
1,359 |
157 |
254 |
(65) |
346 |
151 |
86 |
31 |
(4) |
264 |
(164) |
1,420 |
— |
1,420 |
(1) EBITDA (as adjusted) and prepared in terms of the formula set out in the Revolving Credit Agreements.
Rounding of figures may result in computational discrepancies.
For the year ended
(in US Dollar million, except as otherwise noted)
|
|
|
|
|
|
|
|
|
|||||||||||||
|
Corporate and other |
Kibali |
Iduapriem |
Obuasi |
Siguiri |
Geita |
|
|
|
Tropicana |
|
|
|
AngloGold Ashanti Mineração |
|
|
|
Projects |
Sub-total |
Less equity accounted investments |
Group |
|
Restated |
Restated |
|
|
|
|
|
Restated |
|
|
|
|
|
|
|
|
|
|
Restated |
Restated |
Restated |
Adjusted EBITDA (1) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit (loss) before taxation |
(160) |
175 |
118 |
178 |
73 |
293 |
45 |
882 |
39 |
175 |
(100) |
114 |
157 |
(184) |
(65) |
(76) |
(168) |
(126) |
542 |
(70) |
472 |
Add back: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Finance costs and unwinding of obligations |
84 |
6 |
2 |
5 |
11 |
23 |
— |
47 |
1 |
2 |
8 |
11 |
3 |
8 |
1 |
1 |
13 |
— |
155 |
(6) |
149 |
Finance income |
(15) |
(8) |
— |
(1) |
— |
(1) |
— |
(10) |
— |
— |
— |
— |
(60) |
(2) |
— |
(2) |
(64) |
— |
(89) |
8 |
(81) |
Amortisation of tangible, right of use and intangible assets |
4 |
95 |
80 |
40 |
54 |
102 |
— |
371 |
54 |
117 |
1 |
172 |
39 |
106 |
40 |
— |
185 |
— |
732 |
(95) |
637 |
Other amortisation |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
(4) |
(1) |
— |
— |
(5) |
2 |
(3) |
— |
(3) |
Associates and joint ventures share of amortisation, interest, taxation and other |
2 |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
2 |
163 |
165 |
EBITDA |
(85) |
268 |
200 |
222 |
138 |
417 |
45 |
1,290 |
94 |
294 |
(91) |
297 |
135 |
(73) |
(24) |
(77) |
(39) |
(124) |
1,339 |
— |
1,339 |
Adjustments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Foreign exchange and fair value adjustments |
14 |
— |
2 |
2 |
(1) |
(2) |
— |
1 |
— |
— |
6 |
6 |
12 |
10 |
2 |
79 |
103 |
1 |
125 |
— |
125 |
Retrenchment and related costs |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
2 |
3 |
1 |
(1) |
5 |
1 |
6 |
— |
6 |
Impairment, derecognition of assets and profit (loss) on disposal |
— |
— |
— |
2 |
1 |
— |
— |
3 |
— |
— |
— |
— |
— |
259 |
56 |
(3) |
312 |
— |
315 |
— |
315 |
Unrealised non-hedge derivative loss |
6 |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
6 |
— |
6 |
Joint ventures share of costs |
— |
— |
— |
— |
— |
— |
1 |
1 |
— |
— |
— |
— |
— |
— |
— |
— |
— |
— |
1 |
— |
1 |
Intergroup interest, royalty, dividend and management fees |
(19) |
63 |
2 |
— |
— |
1 |
(63) |
3 |
— |
— |
13 |
13 |
— |
(4) |
— |
— |
(4) |
7 |
— |
— |
— |
Adjusted EBITDA |
(84) |
331 |
204 |
226 |
138 |
416 |
(17) |
1,298 |
94 |
294 |
(72) |
316 |
149 |
195 |
35 |
(2) |
377 |
(115) |
1,792 |
— |
1,792 |
(1) EBITDA (as adjusted) and prepared in terms of the formula set out in the Revolving Credit Agreements.
Rounding of figures may result in computational discrepancies.
B Adjusted net debt (1)
|
At Dec |
At Jun |
At Dec |
||||||
US Dollar million |
2023 Unaudited |
2023 Unaudited Restated |
2022 Unaudited Restated |
||||||
Borrowings - non-current portion |
2,032 |
|
1,896 |
|
1,965 |
|
|||
Borrowings - current portion |
207 |
|
17 |
|
18 |
|
|||
Borrowings - total |
2,239 |
|
1,913 |
|
1,983 |
|
|||
Lease liabilities - non-current portion |
98 |
|
106 |
|
115 |
|
|||
Lease liabilities - current portion |
73 |
|
72 |
|
71 |
|
|||
Lease liabilities - total |
171 |
|
178 |
|
186 |
|
|||
Total borrowings |
2,410 |
|
2,091 |
|
2,169 |
|
|||
Less cash and cash equivalents (net of bank overdraft) |
(955 |
) |
(717 |
) |
(1,106 |
) |
|||
Net debt |
1,455 |
|
1,374 |
|
1,063 |
|
|||
Adjustments:
|
(149 |
) |
(153 |
) |
(158 |
) |
|||
Unamortised portion of borrowing costs |
30 |
|
32 |
|
33 |
|
|||
Cash restricted for use |
(68 |
) |
(59 |
) |
(60 |
) |
|||
Adjusted net debt |
1,268 |
|
1,194 |
|
878 |
|
|||
Adjusted net debt to Adjusted EBITDA |
0.89:1 |
0.75:1 |
0.49:1 |
||||||
Total borrowings to profit (loss) before taxation |
38.25:1 |
15.15:1 |
4.60:1 |
||||||
(1) Net debt (as adjusted) and prepared in terms of the formula set out in the Revolving Credit Agreements. |
C Average gold price received per ounce
|
Six months |
Six months |
Six months |
Year |
Year |
||||||||||||||||||||
|
ended |
ended |
ended |
ended |
ended |
||||||||||||||||||||
|
Dec |
Jun |
Dec |
Dec |
Dec |
||||||||||||||||||||
|
2023 |
2023 |
2022 |
2023 |
2022 |
||||||||||||||||||||
US Dollar million Unaudited |
|
Unaudited |
Unaudited |
Unaudited |
Unaudited |
||||||||||||||||||||
Subsidiaries |
Joint Ventures |
Subsidiaries |
Joint Ventures |
Subsidiaries |
Joint Ventures |
Subsidiaries |
Joint Ventures |
Subsidiaries |
Joint Ventures |
||||||||||||||||
Gold income |
2,335 |
|
370 |
2,144 |
|
298 |
2,298 |
|
315 |
4,480 |
|
668 |
4,388 |
|
596 |
||||||||||
Realised gain on non-hedge derivatives |
1 |
|
— |
1 |
|
— |
— |
|
— |
2 |
|
— |
— |
|
— |
||||||||||
Adjusted for non-controlling interests |
(49 |
) |
— |
(50 |
) |
— |
(51 |
) |
— |
(99 |
) |
— |
(112 |
) |
— |
||||||||||
Attributable gold income including realised non-hedge derivatives |
2,287 |
370 |
2,095 |
298 |
2,247 |
315 |
4,383 |
668 |
4,276 |
596 |
|||||||||||||||
Attributable gold sold - oz (000) (1) |
1,180 |
|
189 |
1,092 |
|
154 |
1,302 |
|
182 |
2,273 |
|
343 |
2,385 |
|
332 |
||||||||||
Average gold price received per ounce - $/oz |
1,939 |
|
1,953 |
1,917 |
|
1,941 |
1,725 |
|
1,732 |
1,928 |
|
1,948 |
1,793 |
|
1,795 |
||||||||||
(1) Includes gold sold from CdS. Rounding of figures may result in computational discrepancies. |
Administration and corporate information
Incorporated in
Registration No. 14654651
LEI No. 2138005YDSA7A82RNU96
Share codes:
ISIN: GB00BRXH2664
CUSIP: G0378L100
NYSE: AU
JSE: ANG
A2X: ANG
GhSE (Shares): AGA
GhSE (GhDS): AAD
JSE Sponsor:
Auditors:
Offices
Registered and Corporate
4th Floor, Communications House
Staines-upon-Thames
Telephone: +44 (0) 203 968 3320
Fax: +44 (0) 203 968 3325
Level 10,
140 St George’s Terrace
(PO Box Z5046, Perth WA 6831)
Telephone: +61 8 9425 4602
Fax: +61 8 9425 4662
Gold House
Telephone: +233 303 773400
Fax: +233 303 778155
Directors
Executive
A Calderon▲ (Chief Executive Officer)
GA Doran▲ (Chief Financial Officer)
Non-Executive
MDC Ramos^ (Chairman)
KOF Busia△
AM Ferguson*
AH Garner#
R Gasant^
SP Lawson#J Magie§
MC Richter#~
DL Sands#
JE Tilk§
* British § Canadian #American ▲Australian
~Panamanian ^South African △Ghanaian
Officers
HC Grantham
Company secretarial e-mail
Companysecretary@anglogoldashanti.com
Investor Relations contacts
Yatish Chowthee
Telephone: +27 11 637 6273
Mobile: +27 78 364 2080
E-mail: yrchowthee@anglogoldashanti.com
Telephone: +61 08 9425 4603
Mobile: +61 400 072 199
E-mail: amaxey@anglogoldashanti.com
www.anglogoldashanti.com
PUBLISHED BY ANGLOGOLD ASHANTI
Share Registrars
Suite 101
Telephone US: 866-644-4127
Telephone non-US: +1-781-575-2000
Shareholder Online Inquiries:
https://www-us.computershare.com/Investor/#Contact
Website: www.computershare.com/investor
Rosebank, 2196
(PO Box 61051, Marshalltown 2107)
Telephone: 0861 100 950 (in SA)
Fax: +27 11 688 5218
E-mail: queries@computershare.co.za
Website: www.computershare.com
4th Floor,
PMB CT 465, Cantonments
Telephone: +233 302 689313
Fax: +233 302 689315
Telephone: +233 302 235814/6
Fax: +233 302 229975
Forward-looking statements
Certain statements contained in this document, other than statements of historical fact, including, without limitation, those concerning the economic outlook for the gold mining industry, expectations regarding gold prices, production, total cash costs, all-in sustaining costs, all-in costs, cost savings and other operating results, return on equity, productivity improvements, growth prospects and outlook of AngloGold Ashanti’s operations, individually or in the aggregate, including the achievement of project milestones, commencement and completion of commercial operations of certain of AngloGold Ashanti’s exploration and production projects and the completion of acquisitions, dispositions or joint venture transactions, AngloGold Ashanti’s liquidity and capital resources and capital expenditures, the consequences of the COVID-19 pandemic, the outcome and consequences of any potential or pending litigation or regulatory proceedings or environmental, health and safety issues, the preparation and impacts of AngloGold Ashanti’s pending restatements and the continuing assessment of the effectiveness of the Company’s internal control over financial reporting by both management and
Non-GAAP financial measures
This communication may contain certain “Non-GAAP” financial measures.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240318575575/en/
Investor Relations contacts
Yatish Chowthee
Telephone: +27 11 637 6273
Mobile: +27 78 364 2080
E-mail: yrchowthee@anglogoldashanti.com
Telephone: +61 08 9425 4603
Mobile: +61 400 072 199
E-mail: amaxey@anglogoldashanti.com
www.anglogoldashanti.com
Source: