GROUP -Key statistics
| ||||
Quarter | Quarter | Year | ||
ended | ended | ended | ||
Mar | Mar | Dec | ||
2023 | 2022 | 2022 | ||
US Dollar / Imperial | ||||
Operating review | ||||
Gold | ||||
Produced (1)
| - oz (000) | 584 | 588 | 2,742 |
Sold | - oz (000) | 583 | 597 | 2,717 |
Financial review | ||||
Gold income | - $m | 1,007 | 1,016 | 4,388 |
Cost of sales | - $m | 839 | 757 | 3,362 |
Total cash costs | - $m | 681 | 605 | 2,753 |
Gross profit | - $m | 182 | 295 | 1,133 |
Average gold price received per ounce * | - $/oz | 1,895 | 1,881 | 1,793 |
Cost of sales - Subsidiaries | - $m | 839 | 757 | 3,362 |
Cost of sales - Joint Ventures | - $m | 84 | 80 | 342 |
All-in sustaining costs per ounce - Subsidiaries * | - $/oz | 1,678 | 1,456 | 1,439 |
All-in sustaining costs per ounce - Joint Ventures * | - $/oz | 1,162 | 1,037 | 979 |
All-in costs per ounce - Subsidiaries * | - $/oz | 1,906 | 1,652 | 1,658 |
All-in costs per ounce - Joint Ventures * | - $/oz | 1,293 | 1,089 | 1,075 |
Total cash costs per ounce - Subsidiaries * | - $/oz | 1,227 | 1,077 | 1,066 |
Total cash costs per ounce - Joint Ventures * | - $/oz | 1,019 | 797 | 725 |
Profit before taxation | - $m | 92 | 218 | 489 |
Total borrowings | - $m | 2,124 | 2,166 | 2,169 |
Profit attributable to equity shareholders | - $m | 66 | 177 | 297 |
- US cents/share | 16 | 42 | 71 | |
Net cash inflow from operating activities | - $m | 94 | 533 | 1,804 |
Capital expenditure - Subsidiaries | - $m | 227 | 215 | 1,028 |
Capital expenditure - Joint Ventures | - $m | 19 | 19 | 90 |
(1) Includes gold concentrate from the Cuiabá mine complex which will be sold to third parties.
| ||||
* Refer to "Non-GAAP disclosure" for definitions.
| ||||
$ represents US Dollar, unless otherwise stated. | ||||
Rounding of figures may result in computational discrepancies. |
Condensed Consolidated Interim Financial Statements for the quarter ended 31 March 2023 - www.AngloGoldAshanti.com |
1
|
Operations at a glance | ||||||||||
for the three months ended 31 March 2023 | ||||||||||
Gold production | Cost of sales | Gross profit (loss) |
Total cash costs per ounce 1
|
All-in sustaining costs per ounce 2
| ||||||
oz (000) |
Year-on-year
% Variance 3
| $m |
Year-on-year
% Variance 3
| $m |
Year-on-year
% Variance 3
| $/oz |
Year-on-year
% Variance 3
| $/oz |
Year-on-year
% Variance 3
| |
AFRICA | 348 | 5 | (544) | 23 | 190 | (13) | 1,135 | 12 | 1,395 | 9 |
Kibali - Attributable 45% 4
| 64 | (16) | (84) | 5 | 43 | (23) | 1,019 | 28 | 1,162 | 12 |
Iduapriem | 63 | 24 | (93) | 27 | 25 | (19) | 803 | (19) | 1,171 | (16) |
Obuasi | 60 | 58 | (87) | 85 | 44 | 76 | 1,085 | 4 | 1,366 | (14) |
Siguiri - Attributable 85% | 63 | (7) | (114) | 20 | 16 | (59) | 1,537 | 29 | 1,637 | 30 |
Geita | 98 | 1 | (146) | 11 | 59 | (2) | 1,196 | 11 | 1,541 | 18 |
Non-controlling interests, administration and other | (20) | 18 | 3 | (57) | ||||||
AUSTRALIA | 125 | (2) | (196) | 9 | 40 | (31) | 1,309 | 13 | 1,564 | 18 |
Sunrise Dam | 61 | - | (100) | 14 | 21 | (5) | 1,317 | 2 | 1,616 | 7 |
Tropicana - Attributable 70% | 64 | (3) | (89) | 6 | 26 | (40) | 1,190 | 26 | 1,382 | 30 |
Administration and other | (7) | - | (7) | - | ||||||
AMERICAS | 111 | (15) | (186) | (13) | - | (100) | 1,338 | 37 | 2,446 | 50 |
Cerro Vanguardia - Attributable 92.50% | 42 | 2 | (72) | 14 | 20 | (50) | 1,077 | 63 | 1,503 | 55 |
AngloGold Ashanti Mineração 5
| 54 | (23) | (74) | (30) | (17) | (153) | 1,390 | 33 | 3,613 | 87 |
Serra Grande | 15 | (25) | (34) | (11) | (5) | (267) | 1,855 | 35 | 2,780 | 41 |
Non-controlling interests, administration and other | (6) | (14) | 2 | (33) | ||||||
CORPORATE AND OTHER | 3 | (400) | (5) | 400 | ||||||
Equity-accounted joint venture included above | 84 | (5) | (43) | 23 | ||||||
AngloGold Ashanti 5
| 584 | (1) | (839) | 11 | 182 | (38) | ||||
1 Refer to "Non-GAAP disclosure" for definition and note B thereunder for reconciliation.
| ||||||||||
2 Refer to "Non-GAAP disclosure" for definition and note B thereunder for reconciliation.
| ||||||||||
3 Variance March 2023 three months on March 2022 three months - increase (decrease).
| ||||||||||
4 Equity-accounted joint venture.
| ||||||||||
5 Includes gold concentrate from the Cuiabá mine complex which will be sold to third parties.
| ||||||||||
Condensed Consolidated Interim Financial Statements for the quarter ended 31 March 2023 - www.AngloGoldAshanti.com |
2
|
Three months | Three months | Year | |
ended | ended | ended | |
Mar | Mar | Dec | |
US Dollar million | 2023 | 2022 | 2022 |
Cost of sales | 839 | 757 | 3,362 |
Inventory change | (5) | (20) | 30 |
Amortisation of tangible assets | (123) | (115) | (551) |
Amortisation of intangible assets | - | - | (1) |
Amortisation of right of use assets | (17) | (19) | (81) |
Retrenchment costs | (1) | (2) | (6) |
Rehabilitation and other non-cash costs | (12) | 4 | - |
Total cash costs | 681 | 605 | 2,753 |
Royalties | (45) | (43) | (185) |
Other cash costs | (4) | (3) | (14) |
Cash operating costs | 632 | 559 | 2,554 |
Condensed Consolidated Interim Financial Statements for the quarter ended 31 March 2023 - www.AngloGoldAshanti.com |
3
|
Condensed Consolidated Interim Financial Statements for the quarter ended 31 March 2023 - www.AngloGoldAshanti.com |
4
|
Condensed Consolidated Interim Financial Statements for the quarter ended 31 March 2023 - www.AngloGoldAshanti.com |
5
|
Condensed Consolidated Interim Financial Statements for the quarter ended 31 March 2023 - www.AngloGoldAshanti.com |
6
|
Particulars |
Three months ended Mar 2023 |
Three months ended Mar 2022 |
% Variance three months vs prior year three months |
Operating review | |||
Gold production (kozs) (1)
| 584 | 588 | (1) |
Financial review | |||
Gold income ($m) | 1,007 | 1,016 | (1) |
Average gold price received per ounce ($/oz) (4)
| 1,895 | 1,881 | 1 |
Corporate & marketing costs ($m) (2)
| 20 | 18 | 11 |
Exploration & evaluation costs ($m) | 47 | 33 | 42 |
Cost of sales - Subsidiaries ($m) | 839 | 757 | 11 |
Cost of sales - Joint Ventures ($m) | 84 | 80 | 5 |
All-in sustaining costs per ounce - Subsidiaries ($/oz) (3) (4)
| 1,678 | 1,456 | 15 |
All-in sustaining costs per ounce - Joint Ventures ($/oz) (3) (4)
| 1,162 | 1,037 | 12 |
All-in costs per ounce - Subsidiaries ($/oz) (3) (4)
| 1,906 | 1,652 | 15 |
All-in costs per ounce - Joint Ventures ($/oz) (3) (4)
| 1,293 | 1,089 | 19 |
Total cash costs per ounce - Subsidiaries ($/oz) (4)
| 1,227 | 1,077 | 14 |
Total cash costs per ounce - Joint Ventures ($/oz) (4)
| 1,019 | 797 | 28 |
Profit before taxation ($m) | 92 | 218 | (58) |
Capital expenditure - Subsidiaries ($m) | 227 | 215 | 6 |
Capital expenditure - Joint Ventures ($m) | 19 | 19 | - |
Condensed Consolidated Interim Financial Statements for the quarter ended 31 March 2023 - www.AngloGoldAshanti.com |
7
|
Condensed Consolidated Interim Financial Statements for the quarter ended 31 March 2023 - www.AngloGoldAshanti.com |
8
|
Condensed Consolidated Interim Financial Statements for the quarter ended 31 March 2023 - www.AngloGoldAshanti.com |
9
|
Condensed Consolidated Interim Financial Statements for the quarter ended 31 March 2023 - www.AngloGoldAshanti.com |
10
|
Condensed Consolidated Interim Financial Statements for the quarter ended 31 March 2023 - www.AngloGoldAshanti.com |
11
|
GROUP - INCOME STATEMENT
|
Three months | Three months | Year | ||
ended | ended | ended | ||
Mar | Mar | Dec | ||
2023 | 2022 | 2022 | ||
US Dollar million | Notes | Unaudited | Unaudited | Audited |
Revenue from product sales | 2 | 1,028 | 1,052 | 4,501 |
Cost of sales | 3 | (839) | (757) | (3,362) |
Loss on non-hedge derivatives and other commodity contracts | (7) | - | (6) | |
Gross profit | 182 | 295 | 1,133 | |
Corporate administration, marketing and related expenses | (20) | (18) | (79) | |
Exploration and evaluation costs | (47) | (33) | (205) | |
Impairment, derecognition of assets and profit (loss) on disposal | - | (1) | (304) | |
Other (expenses) income | (8) | (13) | (26) | |
Operating profit (loss) | 107 | 230 | 519 | |
Interest income | 26 | 13 | 81 | |
Foreign exchange and fair value adjustments | (30) | (28) | (128) | |
Finance costs and unwinding of obligations | 4 | (42) | (32) | (149) |
Share of associates and joint ventures' profit (loss) | 5 | 31 | 35 | 166 |
Profit (loss) before taxation | 92 | 218 | 489 | |
Taxation | 6 | (24) | (33) | (173) |
Profit (loss) for the period | 68 | 185 | 316 | |
Allocated as follows: | ||||
Equity shareholders | 66 | 177 | 297 | |
Non-controlling interests | 2 | 8 | 19 | |
68 | 185 | 316 | ||
Basic earnings per ordinary share (US cents) (1)
| 16 | 42 | 71 | |
Diluted earnings per ordinary share (US cents) (2)
| 16 | 42 | 71 | |
(1) Calculated on the basic weighted average number of ordinary shares.
| ||||
(2) Calculated on the diluted weighted average number of ordinary shares.
| ||||
The financial statements for the three months ended 31 March 2023 have been prepared by the corporate accounting staff of AngloGold Ashanti Limited headed by Mr Ian Kramer (CA (SA)), the group's Senior Vice President: Group Finance. This process was supervised by Ms Gillian Doran (FCCA), the group's Chief Financial Officer and Mr Alberto Calderon (PhD, MPhil, MA, BA (Economics), Juris Doctor (Law)), the group's Chief Executive Officer.
| ||||
Condensed Consolidated Interim Financial Statements for the quarter ended 31 March 2023 - www.AngloGoldAshanti.com |
12
|
GROUP - STATEMENT OF COMPREHENSIVE INCOME
|
Three months | Three months | Year | |
ended | ended | ended | |
Mar | Mar | Dec | |
2023 | 2022 | 2022 | |
US Dollar million | Unaudited | Unaudited | Audited |
Profit (loss) for the period | 68 | 185 | 316 |
Items that will be reclassified subsequently to profit or loss: | |||
Exchange differences on translation of foreign operations | (9) | 13 | (27) |
Items that will not be reclassified subsequently to profit or loss: | |||
Exchange differences on translation of non-foreign operations | (3) | 7 | (1) |
Net gain (loss) on equity investments | (2) | (20) | (50) |
Actuarial gain (loss) recognised | - | - | (10) |
Deferred taxation thereon | - | 14 | 14 |
(5) | 1 | (47) | |
Other comprehensive income (loss) for the period, net of tax | (14) | 14 | (74) |
Total comprehensive income (loss) for the period, net of tax | 54 | 199 | 242 |
Allocated as follows: | |||
Equity shareholders | 52 | 191 | 223 |
Non-controlling interests | 2 | 8 | 19 |
54 | 199 | 242 | |
Condensed Consolidated Interim Financial Statements for the quarter ended 31 March 2023 - www.AngloGoldAshanti.com |
13
|
GROUP - STATEMENT OF FINANCIAL POSITION
|
As at | As at | As at | ||
Mar | Mar | Dec | ||
2023 | 2022 | 2022 | ||
US Dollar million | Unaudited | Unaudited | Audited | |
ASSETS | ||||
Non-current assets | ||||
Tangible assets | 4,306 | 4,056 | 4,209 | |
Right of use assets | 154 | 191 | 156 | |
Intangible assets | 104 | 126 | 106 | |
Investments in associates and joint ventures | 1,093 | 1,360 | 1,100 | |
Other investments | 1 | 31 | 3 | |
Inventories | 4 | 18 | 5 | |
Trade, other receivables and other assets | 233 | 239 | 231 | |
Reimbursive right for post-retirement benefits | 12 | - | 12 | |
Deferred taxation | 99 | 16 | 72 | |
Cash restricted for use | 34 | 32 | 33 | |
6,040 | 6,069 | 5,927 | ||
Current assets | ||||
Inventories | 792 | 704 | 773 | |
Trade, other receivables and other assets | 237 | 258 | 237 | |
Cash restricted for use | 29 | 30 | 27 | |
Cash and cash equivalents | 813 | 1,045 | 1,108 | |
1,871 | 2,037 | 2,145 | ||
Total assets | 7,911 | 8,106 | 8,072 | |
EQUITY AND LIABILITIES | ||||
Share capital and premium | 7,250 | 7,235 | 7,239 | |
Accumulated losses and other reserves | (3,171) | (3,062) | (3,139) | |
Shareholders' equity | 4,079 | 4,173 | 4,100 | |
Non-controlling interests | 36 | 60 | 34 | |
Total equity | 4,115 | 4,233 | 4,134 | |
Non-current liabilities | ||||
Borrowings | 7 | 1,921 | 1,900 | 1,965 |
Lease liabilities | 7 | 103 | 137 | 102 |
Environmental rehabilitation and other provisions | 614 | 718 | 634 | |
Provision for pension and post-retirement benefits | 70 | 83 | 71 | |
Trade, other payables and provisions | 6 | 7 | 7 | |
Deferred taxation | 313 | 300 | 300 | |
3,027 | 3,145 | 3,079 | ||
Current liabilities | ||||
Borrowings | 7 | 24 | 60 | 18 |
Lease liabilities | 7 | 76 | 69 | 84 |
Environmental rehabilitation provisions | 41 | - | - | |
Trade, other payables and provisions | 603 | 575 | 710 | |
Taxation | 21 | 23 | 45 | |
Bank overdraft | 3 | - | 2 | |
Shareholders for dividends | 1 | 1 | - | |
769 | 728 | 859 | ||
Total liabilities | 3,796 | 3,873 | 3,938 | |
Total equity and liabilities | 7,911 | 8,106 | 8,072 | |
Condensed Consolidated Interim Financial Statements for the quarter ended 31 March 2023 - www.AngloGoldAshanti.com |
14
|
GROUP - STATEMENT OF CASH FLOWS
|
Three months | Three months | Year | ||
ended | ended | ended | ||
Mar | Mar | Dec | ||
2023 | 2022 | 2022 | ||
US Dollar million | Notes | Unaudited | Unaudited | Audited |
Cash flows from operating activities | ||||
Cash generated from operations | 8 | 92 | 258 | 1,244 |
Dividends received from joint ventures | 37 | 326 | 694 | |
Taxation refund | - | - | 32 | |
Taxation paid | (35) | (51) | (166) | |
Net cash inflow (outflow) from operating activities | 94 | 533 | 1,804 | |
Cash flows from investing activities | ||||
Capital expenditure | (227) | (215) | (1,028) | |
Interest capitalised and paid | - | - | (2) | |
Acquisition of assets | - | (363) | (517) | |
Dividends from associates and other investments | - | - | 18 | |
Proceeds from disposal of tangible assets | 1 | - | 8 | |
Other investments and assets acquired | - | (14) | (16) | |
Loans advanced | - | - | (1) | |
Decrease (increase) in cash restricted for use | (3) | (3) | (4) | |
Interest received | 25 | 13 | 81 | |
Net cash inflow (outflow) from investing activities | (204) | (582) | (1,461) | |
Cash flows from financing activities | ||||
Proceeds from borrowings | 5 | 40 | 266 | |
Repayment of borrowings | (50) | - | (184) | |
Repayment of lease liabilities | (22) | (20) | (82) | |
Finance costs - borrowings | (22) | (15) | (99) | |
Finance costs - leases | (2) | (2) | (10) | |
Other borrowing costs | - | (1) | (11) | |
Dividends paid | (75) | (62) | (203) | |
Net cash inflow (outflow) from financing activities | (166) | (60) | (323) | |
Net increase (decrease) in cash and cash equivalents | (276) | (109) | 20 | |
Translation | (20) | - | (68) | |
Cash and cash equivalents at beginning of period | 1,106 | 1,154 | 1,154 | |
Cash and cash equivalents at end of period (1)
| 810 | 1,045 | 1,106 | |
Condensed Consolidated Interim Financial Statements for the quarter ended 31 March 2023 - www.AngloGoldAshanti.com |
15
|
Share capital and premium |
Other capital reserves |
(Accumulated losses) Retained earnings | Fair value through OCI | Actuarial (losses) gains |
Foreign currency translation reserve (1)
| Total | Non-controlling interests | Total equity | |
US Dollar million | |||||||||
Balance at 31 December 2021Audited / Restated
| 7,223 | 84 | (1,904) | 53 | (2) | (1,412) | 4,042 | 52 | 4,094 |
Profit (loss) for the period | 177 | 177 | 8 | 185 | |||||
Other comprehensive income (loss) | (6) | 20 | 14 | 14 | |||||
Total comprehensive income (loss) | - | - | 177 | (6) | - | 20 | 191 | 8 | 199 |
Shares issued | 12 | 12 | 12 | ||||||
Share-based payment for share awards net of exercised | (10) | (10) | (10) | ||||||
Dividends paid | (62) | (62) | (62) | ||||||
Transfer on derecognition of equity investment | 69 | (69) | - | - | |||||
Translation | 4 | (5) | 1 | - | - | - | |||
Balance at 31 March 2022 Unaudited | 7,235 | 78 | (1,725) | (22) | (1) | (1,392) | 4,173 | 60 | 4,233 |
Balance at 31 December 2022 Audited
| 7,239 | 81 | (1,715) | (52) | (13) | (1,440) | 4,100 | 34 | 4,134 |
Profit (loss) for the period | 66 | 66 | 2 | 68 | |||||
Other comprehensive income (loss) | (2) | (12) | (14) | (14) | |||||
Total comprehensive income (loss) | - | - | 66 | (2) | - | (12) | 52 | 2 | 54 |
Shares issued | 11 | 11 | 11 | ||||||
Share-based payment for share awards net of exercised | (8) | (8) | (8) | ||||||
Dividends paid | (76) | (76) | (76) | ||||||
Translation | (2) | 2 | - | - | - | ||||
Balance at 31 March 2023 Unaudited
| 7,250 | 71 | (1,723) | (54) | (13) | (1,452) | 4,079 | 36 | 4,115 |
Condensed Consolidated Interim Financial Statements for the quarter ended 31 March 2023 - www.AngloGoldAshanti.com |
16
|
Three months | Three months | Year | |
ended | ended | ended | |
Mar | Mar | Dec | |
2023 | 2022 | 2022 | |
Gold income | |||
US Dollar million | Unaudited | Unaudited | Audited |
AFRICA * | 732 | 662 | 2,981 |
Kibali - Attributable 45% | 126 | 137 | 596 |
Iduapriem | 118 | 104 | 443 |
Obuasi | 131 | 72 | 431 |
Siguiri | 152 | 158 | 591 |
Geita | 205 | 191 | 920 |
AUSTRALIA * | 235 | 236 | 967 |
Sunrise Dam | 121 | 110 | 410 |
Tropicana - Attributable 70% | 114 | 126 | 557 |
AMERICAS * | 166 | 255 | 1,036 |
Cerro Vanguardia | 82 | 85 | 319 |
AngloGold Ashanti Mineração | 56 | 129 | 557 |
Serra Grande | 28 | 41 | 160 |
1,133 | 1,153 | 4,984 | |
Equity-accounted joint venture included above | (126) | (137) | (596) |
1,007 | 1,016 | 4,388 | |
By-product revenue | |||
US Dollar million | Unaudited | Unaudited | Audited |
AFRICA * | 1 | 1 | 4 |
Kibali - Attributable 45% | 1 | - | 1 |
Iduapriem | - | - | 1 |
Obuasi | - | - | 1 |
Geita | - | 1 | 1 |
AUSTRALIA * | 1 | 1 | 4 |
Sunrise Dam | - | - | 1 |
Tropicana - Attributable 70% | 1 | 1 | 3 |
AMERICAS * | 20 | 34 | 106 |
Cerro Vanguardia | 19 | 26 | 75 |
AngloGold Ashanti Mineração | 1 | 8 | 31 |
22 | 36 | 114 | |
Equity-accounted joint venture included above | (1) | - | (1) |
21 | 36 | 113 | |
Condensed Consolidated Interim Financial Statements for the quarter ended 31 March 2023 - www.AngloGoldAshanti.com |
17
|
Three months | Three months | Year | |
ended | ended | ended | |
Mar | Mar | Dec | |
2023 | 2022 | 2022 | |
Cost of sales | |||
US Dollar million | Unaudited | Unaudited | Audited |
AFRICA * | 544 | 444 | 2,004 |
Kibali - Attributable 45% | 84 | 80 | 342 |
Iduapriem | 93 | 73 | 314 |
Obuasi | 87 | 47 | 266 |
Siguiri | 134 | 112 | 488 |
Geita | 146 | 132 | 594 |
AUSTRALIA * | 196 | 179 | 783 |
Sunrise Dam | 100 | 88 | 371 |
Tropicana - Attributable 70% | 89 | 84 | 382 |
Administration and other | 7 | 7 | 30 |
AMERICAS * | 186 | 213 | 913 |
Cerro Vanguardia | 78 | 68 | 273 |
AngloGold Ashanti Mineração | 74 | 105 | 477 |
Serra Grande | 34 | 38 | 162 |
Administration and other | - | 2 | 1 |
CORPORATE AND OTHER | (3) | 1 | 4 |
923 | 837 | 3,704 | |
Equity-accounted joint venture included above | (84) | (80) | (342) |
839 | 757 | 3,362 | |
Gross profit (1)
| |||
US Dollar million | Unaudited | Unaudited | Audited |
AFRICA * | 190 | 218 | 981 |
Kibali - Attributable 45% | 43 | 56 | 256 |
Iduapriem | 25 | 31 | 130 |
Obuasi | 44 | 25 | 165 |
Siguiri | 19 | 46 | 103 |
Geita | 59 | 60 | 327 |
AUSTRALIA * | 40 | 58 | 188 |
Sunrise Dam | 21 | 22 | 40 |
Tropicana - Attributable 70% | 26 | 43 | 177 |
Administration and other | (7) | (7) | (29) |
AMERICAS * | - | 76 | 229 |
Cerro Vanguardia | 22 | 43 | 122 |
AngloGold Ashanti Mineração | (17) | 32 | 111 |
Serra Grande | (5) | 3 | (2) |
Administration and other | - | (2) | (2) |
CORPORATE AND OTHER | (5) | (1) | (9) |
225 | 351 | 1,389 | |
Equity-accounted joint venture included above | (43) | (56) | (256) |
182 | 295 | 1,133 | |
Condensed Consolidated Interim Financial Statements for the quarter ended 31 March 2023 - www.AngloGoldAshanti.com |
18
|
Three months | Three months | Year | |
ended | ended | ended | |
Mar | Mar | Dec | |
2023 | 2022 | 2022 | |
Amortisation | |||
US Dollar million | Unaudited | Unaudited | Audited |
AFRICA * | 102 | 77 | 367 |
Kibali - Attributable 45% | 21 | 22 | 95 |
Iduapriem | 41 | 18 | 80 |
Obuasi | 14 | 5 | 40 |
Siguiri | 9 | 11 | 50 |
Geita | 17 | 21 | 102 |
AUSTRALIA * (1)
| 30 | 36 | 172 |
Sunrise Dam | 13 | 13 | 54 |
Tropicana - Attributable 70% | 17 | 22 | 117 |
Administration and other | - | 1 | 1 |
AMERICAS * | 28 | 42 | 185 |
Cerro Vanguardia | 9 | 8 | 39 |
AngloGold Ashanti Mineração | 13 | 25 | 106 |
Serra Grande | 6 | 9 | 40 |
CORPORATE AND OTHER | 1 | 1 | 4 |
161 | 156 | 728 | |
Equity-accounted joint venture included above | (21) | (22) | (95) |
140 | 134 | 633 | |
Capital expenditure | |||
US Dollar million | Unaudited | Unaudited | Audited |
AFRICA * | 135 | 107 | 576 |
Kibali - Attributable 45% | 19 | 19 | 90 |
Iduapriem | 37 | 28 | 146 |
Obuasi | 36 | 32 | 159 |
Siguiri | 6 | 4 | 27 |
Geita | 37 | 24 | 154 |
AUSTRALIA * | 45 | 47 | 202 |
Sunrise Dam | 13 | 11 | 50 |
Tropicana - Attributable 70% | 32 | 36 | 152 |
AMERICAS * | 60 | 76 | 322 |
Cerro Vanguardia | 14 | 9 | 66 |
AngloGold Ashanti Mineração | 34 | 54 | 199 |
Serra Grande | 12 | 13 | 57 |
PROJECTS *
| 6 | 3 | 17 |
Colombian projects | 1 | 3 | 16 |
North American projects | 5 | - | 1 |
CORPORATE AND OTHER | - | 1 | 1 |
246 | 234 | 1,118 | |
Equity-accounted joint venture included above | (19) | (19) | (90) |
227 | 215 | 1,028 | |
Condensed Consolidated Interim Financial Statements for the quarter ended 31 March 2023 - www.AngloGoldAshanti.com |
19
|
As at | As at | As at | |
Mar | Mar | Dec | |
2023 | 2022 | 2022 | |
Total assets | |||
US Dollar million | Unaudited | Unaudited | Audited |
AFRICA * | 4,122 | 4,065 | 4,083 |
Kibali - Attributable 45% | 1,054 | 1,310 | 1,063 |
Iduapriem | 452 | 410 | 436 |
Obuasi | 1,317 | 1,080 | 1,268 |
Siguiri | 408 | 496 | 447 |
Geita | 886 | 764 | 864 |
Administration and other | 5 | 5 | 5 |
AUSTRALIA* (1)
| 954 | 1,069 | 960 |
AMERICAS * | 1,433 | 1,564 | 1,406 |
Cerro Vanguardia | 510 | 505 | 514 |
AngloGold Ashanti Mineração | 677 | 776 | 625 |
Serra Grande | 225 | 251 | 228 |
Administration and other | 21 | 32 | 39 |
PROJECTS *
| 854 | 682 | 872 |
Colombian projects | 221 | 214 | 244 |
North American projects | 633 | 468 | 628 |
CORPORATE AND OTHER | 548 | 726 | 751 |
7,911 | 8,106 | 8,072 | |
Condensed Consolidated Interim Financial Statements for the quarter ended 31 March 2023 - www.AngloGoldAshanti.com |
20
|
Three months | Three months | Year | |
ended | ended | ended | |
Mar | Mar | Dec | |
2023 | 2022 | 2022 | |
US Dollar million | Unaudited | Unaudited | Audited |
Gold income | 1,007 | 1,016 | 4,388 |
By-products | 21 | 36 | 113 |
Revenue from product sales | 1,028 | 1,052 | 4,501 |
Three months | Three months | Year | |
ended | ended | ended | |
Mar | Mar | Dec | |
2023 | 2022 | 2022 | |
US Dollar million | Unaudited | Unaudited | Audited |
Cash operating costs (1)
| 632 | 559 | 2,554 |
Royalties | 45 | 43 | 185 |
Other cash costs | 4 | 3 | 14 |
Total cash costs | 681 | 605 | 2,753 |
Retrenchment costs | 1 | 2 | 6 |
Rehabilitation and other non-cash costs | 12 | (4) | - |
Amortisation of tangible assets | 123 | 115 | 551 |
Amortisation of right of use assets | 17 | 19 | 81 |
Amortisation of intangible assets | - | - | 1 |
Inventory change | 5 | 20 | (30) |
839 | 757 | 3,362 | |
Condensed Consolidated Interim Financial Statements for the quarter ended 31 March 2023 - www.AngloGoldAshanti.com |
21
|
Three months | Three months | Year | |
ended | ended | ended | |
Mar | Mar | Dec | |
2023 | 2022 | 2022 | |
US Dollar million | Unaudited | Unaudited | Audited |
Finance costs - borrowings | 28 | 25 | 108 |
Finance costs - leases | 3 | 3 | 11 |
Unwinding of obligations | 11 | 4 | 30 |
42 | 32 | 149 | |
Three months | Three months | Year | |
ended | ended | ended | |
Mar | Mar | Dec | |
2023 | 2022 | 2022 | |
US Dollar million | Unaudited | Unaudited | Audited |
Revenue | 136 | 144 | 629 |
Operating costs and other expenses | (90) | (98) | (393) |
Net interest (paid) received | (3) | 2 | 4 |
Profit (loss) before taxation | 43 | 48 | 240 |
Taxation | (12) | (13) | (73) |
Profit (loss) after taxation | 31 | 35 | 167 |
Impairment of investment in joint venture | - | - | (1) |
Share of associates and joint ventures' profit | 31 | 35 | 166 |
Condensed Consolidated Interim Financial Statements for the quarter ended 31 March 2023 - www.AngloGoldAshanti.com |
22
|
Condensed Consolidated Interim Financial Statements for the quarter ended 31 March 2023 - www.AngloGoldAshanti.com |
23
|
As at | As at | As at | |
Mar | Mar | Dec | |
2023 | 2022 | 2022 | |
US Dollar million | Unaudited | Unaudited | Audited |
Change in liabilities arising from financing activities: | |||
Reconciliation of borrowings (excluding lease liabilities)
| |||
A reconciliation of the total borrowings included in the statement of financial position is set out in the following table: | |||
Opening balance | 1,983 | 1,909 | 1,909 |
Proceeds from borrowings | 5 | 40 | 266 |
Repayment of borrowings | (50) | - | (184) |
Finance costs paid on borrowings | (19) | (13) | (89) |
Interest charged to the income statement | 26 | 23 | 97 |
Deferred loan fees | - | - | (8) |
Translation | - | 1 | (8) |
Closing balance | 1,945 | 1,960 | 1,983 |
Reconciliation of finance costs paid (excluding lease finance costs) | |||
A reconciliation of the finance costs paid included in the statement of cash flows is set out in the following table: | |||
Finance costs paid on borrowings | 19 | 13 | 89 |
Capitalised finance cost | - | - | (2) |
Commitment fees, environmental guarantees fees and other | 3 | 2 | 12 |
Total finance costs paid | 22 | 15 | 99 |
Reconciliation of lease liabilities | |||
Opening balance | 186 | 185 | 185 |
Lease liabilities recognised | 17 | 35 | 90 |
Repayment of lease liabilities | (22) | (20) | (82) |
Finance costs paid on lease liabilities | (2) | (2) | (10) |
Interest charged to the income statement | 2 | 3 | 11 |
Modifications and terminations | (1) | (3) | (7) |
Translation | (1) | 8 | (1) |
Closing balance | 179 | 206 | 186 |
Condensed Consolidated Interim Financial Statements for the quarter ended 31 March 2023 - www.AngloGoldAshanti.com |
24
|
Three months | Three months | Year | |
ended | ended | ended | |
Mar | Mar | Dec | |
2023 | 2022 | 2022 | |
US Dollar million | Unaudited | Unaudited | Audited |
Profit (loss) before taxation | 92 | 218 | 489 |
Adjusted for: | |||
Movement on non-hedge derivatives and other commodity contracts | 6 | - | 6 |
Amortisation of tangible and right of use assets | 140 | 134 | 632 |
Amortisation of intangible assets | - | - | 1 |
Finance costs and unwinding of obligations | 42 | 32 | 149 |
Environmental rehabilitation, silicosis and other provisions | (4) | (26) | (85) |
Impairment, derecognition of assets and loss (profit) on disposal | 2 | 1 | 308 |
Other expenses (income) | 6 | 13 | 9 |
Profit (loss) on sale of assets | (1) | - | (8) |
Interest income | (26) | (13) | (81) |
Share of associates and joint ventures' loss (profit) | (31) | (35) | (166) |
Other non-cash movements | (8) | 15 | 25 |
Other exchange losses (1)
| 25 | 18 | 102 |
Movements in working capital | (151) | (99) | (137) |
92 | 258 | 1,244 | |
Movements in working capital: | |||
(Increase) decrease in inventories | (15) | (4) | (54) |
(Increase) decrease in trade and other receivables | (34) | (14) | (149) |
Increase (decrease) in trade, other payables and provisions | (102) | (81) | 66 |
(151) | (99) | (137) |
Condensed Consolidated Interim Financial Statements for the quarter ended 31 March 2023 - www.AngloGoldAshanti.com |
25
|
Fair value | Carrying value | Fair value | Carrying value | ||||
As at Mar | As at Mar | As at Dec | As at Dec | ||||
Financial instrument | 2023 | 2023 | 2022 | 2022 | Valuation method | Significant inputs |
Fair value hierarchy of inputs |
At fair value through profit and loss | |||||||
Deferred compensation asset (1)
| 12 | 12 | 12 | 12 | Probability weighted discounted cash flow | $260 per ounce payable on all underground production sourced within the West Wits mineral rights (comprising the Mponeng, Savuka and TauTona mines) in excess of 250,000 ounces per annum for 6 years commencing 1 January 2021, following the disposal of these operations to Harmony Gold Company Limited (Harmony). | Level 3 |
Derivative financial liability -crude oil forward contracts and gold zero cost collar contracts (2)
| 12 | 12 | 6 | 6 | Black-Scholes-Merton option pricing model | Forward and spot prices, the number of outstanding barrels of oil and outstanding number of ounces of gold on open contracts, risk free rates and volatilities. | Level 2 |
At fair value through other comprehensive income | |||||||
Listed equity investments | - | - | 2 | 2 | Level 1 | ||
At amortised cost | |||||||
Borrowings - Rated bonds | 1,587 | 1,740 | 1,578 | 1,735 | |||
Borrowings - Revolving Credit Facilities | 205 | 205 | 248 | 248 | |||
As at | As at | |
Mar | Dec | |
2023 | 2022 | |
US Dollar million | Unaudited | Audited |
Opening balance | 12 | 25 |
Unwinding of the deferred compensation asset | - | 1 |
Changes in estimates - fair value adjustments (1)
| - | (13) |
Translation | - | (1) |
Closing balance | 12 | 12 |
(1) Included in the income statement in foreign exchange and fair value adjustments
| ||
Sensitivity analysis | ||
A reasonably possible change in the number of ounces used in the weighted probability calculation would not have a material impact on the fair value of the deferred compensation asset. | ||
Condensed Consolidated Interim Financial Statements for the quarter ended 31 March 2023 - www.AngloGoldAshanti.com |
26
|
As at | As at | As at | |
Mar | Mar | Dec | |
2023 | 2022 | 2022 | |
US Dollar million | Unaudited | Unaudited | Audited |
Orders placed and outstanding on capital contracts at the prevailing rate of exchange | 175 | 192 | 178 |
Condensed Consolidated Interim Financial Statements for the quarter ended 31 March 2023 - www.AngloGoldAshanti.com |
27
|
Condensed Consolidated Interim Financial Statements for the quarter ended 31 March 2023 - www.AngloGoldAshanti.com |
28
|
Condensed Consolidated Interim Financial Statements for the quarter ended 31 March 2023 - www.AngloGoldAshanti.com |
29
|
Three months | Three months | Year | |
ended | ended | ended | |
Mar | Mar | Dec | |
2023 | 2022 | 2022 | |
US Dollar million | Unaudited | Unaudited | Unaudited |
Gold income (note 2)
| 1,007 | 1,016 | 4,388 |
Realised gain on non-hedge derivatives | 1 | - | - |
Adjusted for non-controlling interests | (29) | (30) | (112) |
979 | 986 | 4,276 | |
Associates and joint ventures' share of gold income including realised non-hedge derivatives | 126 | 137 | 596 |
Attributable gold income including realised non-hedge derivatives | 1,105 | 1,123 | 4,872 |
Attributable gold sold - oz (000) | 583 | 597 | 2,717 |
Average gold price received per ounce - $/oz | 1,895 | 1,881 | 1,793 |
Condensed Consolidated Interim Financial Statements for the quarter ended 31 March 2023 - www.AngloGoldAshanti.com |
30
|
For the quarter ended 31 March 2023
| |
Corporate and other | |
(in $ millions, except as otherwise noted) | |
Corporate(5)
| |
All-in sustaining costs | |
Cost of sales per segmental information (4)
| (3) |
By-product revenue | - |
Cost of sales | (3) |
Realised other commodity contracts | 2 |
Amortisation of tangible, right of use and intangible assets | (1) |
Adjusted for decommissioning and inventory amortisation | - |
Corporate administration, marketing and related expenses | 20 |
Lease payment sustaining | - |
Sustaining exploration and study costs | - |
Total sustaining capital expenditure | - |
All-in sustaining costs | 18 |
Adjusted for non-controlling interests and non - gold producing companies (1)
| - |
All-in sustaining costs adjusted for non-controlling interest and non-gold producing companies | 18 |
All-in sustaining costs | 18 |
Non-sustaining project capital expenditure | - |
Non-sustaining lease payments | - |
Non-sustaining exploration and study costs | - |
Care and maintenance | - |
Closure and social responsibility costs not related to current operations | 1 |
Other provisions | 1 |
All-in costs | 20 |
Adjusted for non-controlling interests and non - gold producing companies (1)
| - |
All-in costs adjusted for non-controlling interest and non-gold producing companies | 20 |
Gold sold - oz (000)(2)
| - |
All-in sustaining cost per ounce - $/oz(3)
| - |
All-in cost per ounce - $/oz(3)
| - |
(1) Adjusting for non-controlling interest of items included in calculation, to disclose the attributable portions only. | |
(2) Attributable portion. | |
(3) In addition to the operational performances of the mines, "all-in sustaining cost per ounce", "all-in cost per ounce" and "total cash costs per ounce" are affected by fluctuations in the currency exchange rate. AngloGold Ashanti reports "all-in sustaining cost per ounce" and "all-in cost per ounce" calculated to the nearest US Dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US Dollar amount and gold produced in ounces.
| |
(4) Refer to Segmental reporting. | |
(5) Corporate includes non-gold producing subsidiaries. |
Condensed Consolidated Interim Financial Statements for the quarter ended 31 March 2023 - www.AngloGoldAshanti.com |
31
|
For the quarter ended 31 March 2023
| |
Corporate and other | |
(in $ millions, except as otherwise noted) | |
CORPORATE(5)
| |
Total cash costs | |
Cost of sales per segmental information (4)
| (3) |
- By-product revenue | - |
- Inventory change | - |
- Amortisation of tangible assets | (1) |
- Amortisation of right of use assets | - |
- Amortisation of intangible assets | - |
- Rehabilitation and other non-cash costs | - |
- Retrenchment costs | - |
Total cash costs net of by-product revenue | (4) |
Adjusted for non-controlling interests and non-gold producing companies | - |
Total cash costs adjusted for non-controlling interests and non-gold producing companies | (4) |
Gold produced - oz (000)(2)
| - |
Total cash costs per ounce - $/oz(3)
| - |
Condensed Consolidated Interim Financial Statements for the quarter ended 31 March 2023 - www.AngloGoldAshanti.com |
32
|
For the quarter ended 31 March 2023
| |||||||||
Operations Africa | |||||||||
(in $ millions, except as otherwise noted) | |||||||||
AFRICA | AFRICA | ||||||||
Kibali | Other | Joint Ventures | Iduapriem | Obuasi | Siguiri | Geita | Africa other | Subsidiaries | |
All-in sustaining costs | |||||||||
Cost of sales per segmental information(4)
| 84 | - | 84 | 93 | 87 | 134 | 146 | - | 460 |
By-product revenue | (1) | - | (1) | - | - | - | - | - | - |
Cost of sales | 83 | - | 83 | 93 | 87 | 134 | 146 | - | 460 |
Realised other commodity contracts | - | - | - | - | - | - | - | - | - |
Amortisation of tangible, right of use and intangible assets | (21) | - | (21) | (41) | (14) | (9) | (17) | - | (81) |
Adjusted for decommissioning and inventory amortisation | - | - | - | (1) | - | - | - | - | (1) |
Corporate administration, marketing and related expenses | - | - | - | - | - | - | - | - | - |
Lease payment sustaining | 3 | - | 3 | 1 | - | - | 6 | - | 7 |
Sustaining exploration and study costs | 1 | - | 1 | 1 | - | 1 | 2 | (1) | 3 |
Total sustaining capital expenditure | 12 | - | 12 | 21 | 21 | 5 | 29 | - | 76 |
All-in sustaining costs | 78 | - | 78 | 74 | 94 | 131 | 166 | (1) | 464 |
Adjusted for non-controlling interests and non-gold producing companies(1)
| - | - | - | - | - | (20) | - | - | (20) |
All-in sustaining costs adjusted for non-controlling interest and non-gold producing companies | 78 | - | 78 | 74 | 94 | 111 | 166 | (1) | 444 |
All-in sustaining costs | 78 | - | 78 | 74 | 94 | 131 | 166 | (1) | 464 |
Non-sustaining project capital expenditure | 7 | - | 7 | 16 | 15 | 1 | 8 | - | 40 |
Non-sustaining lease payments | - | - | - | - | - | - | 1 | - | 1 |
Non-sustaining exploration and study costs | - | - | - | - | - | 2 | - | 1 | 3 |
Care and maintenance | - | - | - | - | - | - | - | - | - |
Closure and social responsibility costs not related to current operations | 1 | - | 1 | - | 3 | - | - | - | 3 |
Other provisions | - | - | - | - | - | - | - | (1) | (1) |
All-in costs | 86 | - | 86 | 90 | 112 | 134 | 175 | (1) | 510 |
Adjusted for non-controlling interests and non -gold producing companies(1)
| - | - | - | - | - | (20) | - | - | (20) |
All-in costs adjusted for non-controlling interest and non-gold producing companies | 86 | - | 86 | 90 | 112 | 114 | 175 | (1) | 490 |
Gold sold - oz (000)(2)
| 66 | - | 66 | 63 | 69 | 68 | 107 | - | 307 |
All-in sustaining cost per ounce -
$/oz (3)
| 1,162 | - | 1,162 | 1,171 | 1,366 | 1,637 | 1,541 | - | 1,446 |
All-in cost per ounce - $/oz(3)
| 1,288 | - | 1,293 | 1,433 | 1,616 | 1,666 | 1,631 | - | 1,594 |
Condensed Consolidated Interim Financial Statements for the quarter ended 31 March 2023 - www.AngloGoldAshanti.com |
33
|
For the quarter ended 31 March 2023
| |||||||||
Operations Africa | |||||||||
(in $ millions, except as otherwise noted) | |||||||||
AFRICA | AFRICA | ||||||||
Kibali | Other | Joint Ventures | Iduapriem | Obuasi | Siguiri | Geita | Africa other | Subsidiaries | |
Total cash costs | |||||||||
Cost of sales per segmental information(4)
| 84 | - | 84 | 93 | 87 | 134 | 146 | - | 460 |
- By-product revenue | (1) | - | (1) | - | - | - | - | - | - |
- Inventory change | 1 | - | 1 | - | (6) | (8) | (11) | - | (25) |
- Amortisation of tangible assets | (21) | - | (21) | (40) | (14) | (9) | (13) | - | (76) |
- Amortisation of right of use assets | - | - | - | (1) | - | - | (4) | - | (5) |
- Amortisation of intangible assets | - | - | - | - | - | - | - | - | - |
- Rehabilitation and other non-cash costs | 2 | - | 2 | (2) | (2) | (1) | (1) | 1 | (5) |
- Retrenchment costs | - | - | - | - | - | - | - | - | - |
Total cash costs net of by-product revenue | 65 | - | 65 | 50 | 65 | 116 | 117 | 1 | 349 |
Adjusted for non-controlling interests, non-gold producing companies and other(1)
| - | - | - | - | - | (18) | - | - | (18) |
Total cash costs net of by-product revenue adjusted for non-controlling interests and non-gold producing companies | 65 | - | 65 | 50 | 65 | 98 | 117 | 1 | 331 |
Gold produced - oz (000)(2)
| 64 | - | 64 | 63 | 60 | 64 | 98 | - | 284 |
Total cash costs per ounce - $/oz(3)
| 1,019 | - | 1,019 | 803 | 1,085 | 1,537 | 1,196 | - | 1,161 |
Condensed Consolidated Interim Financial Statements for the quarter ended 31 March 2023 - www.AngloGoldAshanti.com |
34
|
For the quarter ended 31 March 2023
| ||||||||||
Operations Australia, Americas and Projects | ||||||||||
(in $ millions, except as otherwise noted) | ||||||||||
AUSTRALIA | AMERICAS | PROJECTS | ||||||||
Sunrise Dam | Tropicana | Australia other | Total Australia | Cerro Vanguardia |
AngloGold Ashanti Mineração
| Serra Grande | Americas other | Total Americas | ||
All-in sustaining costs | ||||||||||
Cost of sales per segmental information(4)
| 100 | 89 | 7 | 196 | 78 | 74 | 34 | - | 186 | - |
By-product revenue | - | (1) | - | (1) | (19) | (1) | - | - | (20) | - |
Cost of sales | 100 | 88 | 7 | 195 | 59 | 73 | 34 | - | 166 | - |
Realised other commodity contracts | - | - | - | - | - | - | - | - | - | - |
Amortisation of tangible, right of use and intangible assets | (13) | (17) | - | (30) | (9) | (13) | (6) | - | (28) | - |
Adjusted for decommissioning and inventory amortisation | - | - | - | - | - | 5 | - | - | 5 | - |
Corporate administration, marketing and related expenses | - | - | - | - | - | - | - | - | - | - |
Lease payment sustaining | 3 | 3 | - | 6 | - | 9 | 1 | - | 10 | - |
Sustaining exploration and study costs | 1 | - | - | 1 | 2 | (1) | - | - | 1 | - |
Total sustaining capital expenditure | 13 | 10 | - | 23 | 14 | 34 | 12 | - | 60 | - |
All-in sustaining costs | 104 | 84 | 7 | 195 | 66 | 107 | 41 | - | 214 | - |
Adjusted for non-controlling interests and non -gold producing companies(1)
| - | - | - | - | (5) | - | - | - | (5) | - |
All-in sustaining costs adjusted for non-controlling interest and non-gold producing companies | 104 | 84 | 7 | 195 | 61 | 107 | 41 | - | 209 | - |
All-in sustaining costs | 104 | 84 | 7 | 195 | 66 | 107 | 41 | - | 214 | - |
Non-sustaining project capital expenditure | - | 22 | - | 22 | - | - | - | - | - | 6 |
Non-sustaining lease payments | - | - | - | - | - | - | - | - | - | - |
Non-sustaining exploration and study costs | - | 1 | 5 | 6 | 1 | 1 | - | 1 | 3 | 30 |
Care and maintenance | - | - | - | - | - | - | - | - | - | 1 |
Closure and social responsibility costs not related to current operations | - | - | - | - | - | 2 | 1 | - | 3 | - |
Other provisions | - | - | - | - | - | - | - | - | - | - |
All-in costs | 104 | 107 | 12 | 223 | 67 | 110 | 42 | 1 | 220 | 37 |
Adjusted for non-controlling interests and non-gold producing companies(1)
| - | - | - | - | (5) | - | - | - | (5) | - |
All-in costs adjusted for non-controlling interest and non-gold producing companies | 104 | 107 | 12 | 223 | 62 | 110 | 42 | 1 | 215 | 37 |
Gold sold - oz (000)(2)
| 64 | 61 | - | 125 | 40 | 30 | 15 | - | 85 | - |
All-in sustaining cost per ounce - $/oz(3)
| 1,616 | 1,382 | - | 1,564 | 1,503 | 3,613 | 2,780 | - | 2,446 | - |
All-in cost per ounce - $/oz(3)
| 1,623 | 1,762 | - | 1,787 | 1,533 | 3,719 | 2,801 | - | 2,508 | - |
Condensed Consolidated Interim Financial Statements for the quarter ended 31 March 2023 - www.AngloGoldAshanti.com |
35
|
For the quarter ended 31 March 2023
| ||||||||||
Operations Australia, Americas and Projects | ||||||||||
(in $ millions, except as otherwise noted) | ||||||||||
AUSTRALIA | AMERICAS | PROJECTS | ||||||||
Sunrise Dam | Tropicana | Australia other | Total Australia | Cerro Vanguardia |
AngloGold Ashanti Mineração
| Serra Grande | Americas other | Total Americas | ||
Total cash costs | ||||||||||
Cost of sales per segmental information(4)
| 100 | 89 | 7 | 196 | 78 | 74 | 34 | - | 186 | - |
- By-product revenue | - | (1) | - | (1) | (19) | (1) | - | - | (20) | - |
- Inventory change | (5) | 6 | - | 1 | 1 | 17 | 1 | - | 19 | - |
- Amortisation of tangible assets | (10) | (15) | - | (25) | (9) | (7) | (5) | - | (21) | - |
- Amortisation of right of use assets | (3) | (2) | - | (5) | - | (6) | (1) | - | (7) | - |
- Amortisation of intangible assets | - | - | - | - | - | - | - | - | - | - |
- Rehabilitation and other non-cash costs | (1) | (1) | - | (2) | (2) | (1) | - | (1) | (4) | - |
- Retrenchment costs | - | - | - | - | - | (1) | (1) | 1 | (1) | - |
Total cash costs net of by-product revenue | 81 | 76 | 7 | 164 | 49 | 75 | 28 | - | 152 | - |
Adjusted for non-controlling interests, non-gold producing companies and other(1)
| - | - | - | - | (4) | - | - | - | (4) | - |
Total cash costs net of by-product revenue adjusted for non-controlling interests and non-gold producing companies | 81 | 76 | 7 | 164 | 45 | 75 | 28 | - | 148 | - |
Gold produced - oz (000)(2)
| 61 | 64 | - | 125 | 42 | 54 | 15 | - | 111 | - |
Total cash costs per ounce - $/oz(3)
| 1,317 | 1,190 | - | 1,309 | 1,077 | 1,390 | 1,855 | - | 1,338 | - |
Condensed Consolidated Interim Financial Statements for the quarter ended 31 March 2023 - www.AngloGoldAshanti.com |
36
|
For the quarter ended 31 March 2023
| ||
AngloGold Ashanti operations - Total | ||
(in $ millions, except as otherwise noted) | ||
JOINT VENTURES | SUBSIDIARIES | |
All-in sustaining costs
| ||
Cost of sales per segmental information (4)
| 84 | 839 |
By-product revenue | (1) | (21) |
Cost of sales | 83 | 818 |
Realised other commodity contracts | - | 2 |
Amortisation of tangible, right of use and intangible assets | (21) | (140) |
Adjusted for decommissioning and inventory amortisation | - | 4 |
Corporate administration, marketing and related expenses | - | 20 |
Lease payment sustaining | 3 | 23 |
Sustaining exploration and study costs | 1 | 5 |
Total sustaining capital expenditure | 12 | 159 |
All-in sustaining costs | 78 | 891 |
Adjusted for non-controlling interests and non -gold producing companies (1)
| - | (25) |
All-in sustaining costs adjusted for non-controlling interest and non-gold producing companies | 78 | 866 |
All-in sustaining costs | 78 | 891 |
Non-sustaining project capital expenditure | 7 | 68 |
Non-sustaining lease payments | - | 1 |
Non-sustaining exploration and study costs | - | 42 |
Care and maintenance | - | 1 |
Closure and social responsibility costs not related to current operations | 1 | 7 |
Other provisions | - | - |
All-in costs | 86 | 1,010 |
Adjusted for non-controlling interests and non -gold producing companies (1)
| - | (25) |
All-in costs adjusted for non-controlling interests and non-gold producing companies | 86 | 985 |
Gold sold - oz (000)(2)
| 66 | 517 |
All-in sustaining cost per ounce - $/oz (3)
| 1,162 | 1,678 |
All-in cost per ounce - $/oz(3)
| 1,293 | 1,906 |
Condensed Consolidated Interim Financial Statements for the quarter ended 31 March 2023 - www.AngloGoldAshanti.com |
37
|
For the quarter ended 31 March 2023
| ||
AngloGold Ashanti operations - Total | ||
(in $ millions, except as otherwise noted) | ||
JOINT VENTURES | SUBSIDIARIES | |
Total cash costs | ||
Cost of sales per segmental information (4)
| 84 | 839 |
- By-product revenue | (1) | (21) |
- Inventory change | 1 | (5) |
- Amortisation of tangible assets | (21) | (123) |
- Amortisation of right of use assets | - | (17) |
- Amortisation of intangible assets | - | - |
- Rehabilitation and other non-cash costs | 2 | (12) |
- Retrenchment costs | - | (1) |
Total cash costs net of by-product revenue | 65 | 660 |
Adjusted for non-controlling interests and non-gold producing companies (1)
| - | (21) |
Total cash costs net of by-product revenue adjusted for non-controlling interests and non-gold producing companies | 65 | 639 |
Gold produced - oz (000)(2)
| 64 | 521 |
Total cash costs per ounce - $/oz(3)
| 1,019 | 1,227 |
Condensed Consolidated Interim Financial Statements for the quarter ended 31 March 2023 - www.AngloGoldAshanti.com |
38
|
For the quarter ended 31 March 2022
| |
Corporate and other | |
(in $ millions, except as otherwise noted) | |
CORPORATE(5)
| |
All-in sustaining costs
| |
Cost of sales per segmental information (4)
| 1 |
By-product revenue | - |
Cost of sales | 1 |
Amortisation of tangible, right of use and intangible assets | (1) |
Adjusted for decommissioning and inventory amortisation | - |
Corporate administration, marketing and related expenses | 18 |
Lease payment sustaining | 1 |
Sustaining exploration and study costs | - |
Total sustaining capital expenditure | 1 |
All-in sustaining costs | 20 |
Adjusted for non-controlling interests and non-gold producing companies (1)
| - |
All-in sustaining costs adjusted for non-controlling interest and non-gold producing companies | 20 |
All-in sustaining costs | 20 |
Non-sustaining project capital expenditure | - |
Non-sustaining lease payments | - |
Non-sustaining exploration and study costs | - |
Care and maintenance | - |
Closure and social responsibility costs not related to current operations | 2 |
Other provisions | - |
All-in costs | 22 |
Adjusted for non-controlling interests and non-gold producing companies (1)
| - |
All-in costs adjusted for non-controlling interests and non-gold producing companies | 22 |
Gold sold - oz (000)(2)
| - |
All-in sustaining cost per ounce - $/oz(3)
| - |
All-in cost per ounce - $/oz(3)
| - |
(1) Adjusting for non-controlling interest of items included in calculation, to disclose the attributable portions only. | |
(2) Attributable portion. | |
(3) In addition to the operational performances of the mines, "all-in sustaining cost per ounce", "all-in cost per ounce" and "total cash costs per ounce" are affected by fluctuations in the currency exchange rate. AngloGold Ashanti reports "all-in sustaining cost per ounce" and "all-in cost per ounce" calculated to the nearest US Dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US Dollar amount and gold produced in ounces.
| |
(4) Refer to Segmental reporting. | |
(5) Corporate includes non-gold producing subsidiaries. |
Condensed Consolidated Interim Financial Statements for the quarter ended 31 March 2023 - www.AngloGoldAshanti.com |
39
|
For the quarter ended 31 March 2022
| |
Corporate and other | |
(in $ millions, except as otherwise noted) | |
CORPORATE(5)
| |
Total cash costs | |
Cost of sales per segmental information (4)
| 1 |
- By- product revenue | - |
- Inventory change | - |
- Amortisation of tangible assets | (1) |
- Amortisation of right of use assets | - |
- Amortisation of intangible assets | - |
- Rehabilitation and other non-cash costs | - |
- Retrenchment costs | - |
Total cash costs net of by-product revenue | - |
Adjusted for non-controlling interests, non-gold producing companies and other (1)
| - |
Total cash costs net of by-product revenue adjusted for non-controlling interests and non-gold producing companies | - |
Gold produced - oz (000) (2)
| - |
Total cash costs per ounce - $/oz (3)
| - |
Condensed Consolidated Interim Financial Statements for the quarter ended 31 March 2023 - www.AngloGoldAshanti.com |
40
|
For the quarter ended 31 March 2022
| ||||||||
Operations Africa | ||||||||
(in $ millions, except as otherwise noted) | ||||||||
AFRICA | AFRICA | |||||||
Kibali | Joint Ventures | Iduapriem | Obuasi | Siguiri | Geita | Africa other | Subsidiaries | |
All-in sustaining costs | ||||||||
Cost of sales per segmental information(4)
| 80 | 80 | 73 | 47 | 112 | 132 | - | 364 |
By-product revenue | - | - | - | - | - | (1) | - | (1) |
Cost of sales | 80 | 80 | 73 | 47 | 112 | 131 | - | 363 |
Amortisation of tangible, intangible and right of use assets | (22) | (22) | (18) | (5) | (11) | (21) | - | (55) |
Adjusted for decommissioning and inventory amortisation | - | - | 1 | - | - | - | - | 1 |
Corporate administration, marketing and related expenses | - | - | - | - | - | - | - | - |
Lease payment sustaining | 1 | 1 | 1 | - | - | 5 | - | 6 |
Sustaining exploration and study costs | - | - | - | - | - | 2 | - | 2 |
Total sustaining capital expenditure | 17 | 17 | 20 | 18 | 4 | 15 | - | 57 |
All-in sustaining costs | 76 | 76 | 77 | 60 | 105 | 132 | - | 374 |
Adjusted for non-controlling interests and non-gold producing companies (1)
| - | - | - | - | (16) | - | - | (16) |
All-in sustaining costs adjusted for non-controlling interests and non-gold producing companies | 76 | 76 | 77 | 60 | 89 | 132 | - | 358 |
All-in sustaining costs | 76 | 76 | 77 | 60 | 105 | 132 | - | 374 |
Non-sustaining project capital expenditure | 2 | 2 | 8 | 14 | - | 9 | - | 31 |
Non-sustaining lease payments | - | - | - | - | - | 1 | - | 1 |
Non-sustaining exploration and study costs | 1 | 1 | - | 1 | 1 | 2 | - | 4 |
Care and maintenance | - | - | - | - | - | - | - | - |
Closure and social responsibility costs not related to current operations | - | - | - | (2) | - | - | - | (2) |
Other provisions | - | - | - | - | - | - | - | - |
All-in costs | 79 | 79 | 85 | 73 | 106 | 144 | - | 408 |
Adjusted for non-controlling interests and non-gold producing companies (1)
| - | - | - | - | (16) | - | - | (16) |
All-in costs adjusted for non-controlling interests and non-gold producing companies | 79 | 79 | 85 | 73 | 90 | 144 | - | 392 |
Gold sold - oz (000)(2)
| 73 | 73 | 55 | 38 | 71 | 102 | - | 266 |
All-in sustaining cost per ounce - $/oz(3)
| 1,037 | 1,037 | 1,390 | 1,585 | 1,262 | 1,301 | - | 1,348 |
All-in cost per ounce - $/oz(3)
| 1,086 | 1,089 | 1,532 | 1,931 | 1,275 | 1,418 | - | 1,475 |
Condensed Consolidated Interim Financial Statements for the quarter ended 31 March 2023 - www.AngloGoldAshanti.com |
41
|
For the quarter ended 31 March 2022
| ||||||||
Operations Africa | ||||||||
(in $ millions, except as otherwise noted) | ||||||||
AFRICA | AFRICA | |||||||
Kibali | Joint Ventures | Iduapriem | Obuasi | Siguiri | Geita | Africa other | Subsidiaries | |
Total cash costs | ||||||||
Cost of sales per segmental information(4)
| 80 | 80 | 73 | 47 | 112 | 132 | - | 364 |
- By- product revenue | - | - | - | - | - | (1) | - | (1) |
- Inventory change | 3 | 3 | (5) | (1) | (5) | (4) | - | (15) |
- Amortisation of tangible assets | (21) | (21) | (17) | (5) | (11) | (16) | - | (49) |
- Amortisation of right of use assets | (1) | (1) | (1) | - | - | (5) | - | (6) |
- Amortisation of intangible assets | - | - | - | - | - | - | - | - |
- Rehabilitation and other non-cash costs | (1) | (1) | - | (1) | (1) | (1) | - | (3) |
- Retrenchment costs | - | - | - | - | - | - | - | - |
Total cash costs net of by-product revenue | 60 | 60 | 50 | 40 | 95 | 105 | - | 290 |
Adjusted for non-controlling interests, non-gold producing companies and other(1)
| - | - | - | - | (14) | - | - | (14) |
Total cash costs net of by-product revenue adjusted for non-controlling interests and non-gold producing companies | 60 | 60 | 50 | 40 | 81 | 105 | - | 276 |
Gold produced - oz (000) (2)
| 76 | 76 | 51 | 38 | 68 | 97 | - | 254 |
Total cash costs per ounce - $/oz(3)
| 797 | 797 | 987 | 1,043 | 1,187 | 1,077 | - | 1,082 |
Condensed Consolidated Interim Financial Statements for the quarter ended 31 March 2023 - www.AngloGoldAshanti.com |
42
|
For the quarter ended 31 March 2022
| ||||||||||
Operations Australia, Americas and Projects | ||||||||||
(in $ millions, except as otherwise noted) | ||||||||||
AUSTRALIA | AMERICAS | PROJECTS | ||||||||
Sunrise Dam | Tropicana | Australia other | Total Australia | Cerro Vanguardia |
AngloGold Ashanti Mineração
| Serra Grande | Americas other | Total Americas | ||
All-in sustaining costs | ||||||||||
Cost of sales per segmental information(4)
| 88 | 84 | 7 | 179 | 68 | 105 | 38 | 2 | 213 | - |
By-product revenue | - | (1) | - | (1) | (26) | (8) | - | - | (34) | - |
Cost of sales | 88 | 83 | 7 | 178 | 42 | 97 | 38 | 2 | 179 | - |
Amortisation of tangible, intangible and right of use assets | (13) | (22) | (1) | (36) | (8) | (25) | (9) | - | (42) | - |
Adjusted for decommissioning and inventory amortisation | - | - | - | - | - | - | - | (1) | (1) | - |
Corporate administration, marketing and related expenses | - | - | - | - | - | - | - | - | - | - |
Lease payment sustaining | 3 | 3 | - | 6 | - | 7 | 1 | - | 8 | - |
Sustaining exploration and study costs | - | - | 1 | 1 | - | - | - | - | - | - |
Total sustaining capital expenditure | 11 | 7 | - | 18 | 9 | 54 | 13 | - | 76 | - |
All-in sustaining costs | 89 | 71 | 7 | 167 | 43 | 133 | 43 | 1 | 220 | - |
Adjusted for non-controlling interests and non -gold producing companies(1)
| - | - | - | - | (3) | - | - | - | (3) | - |
All-in sustaining costs adjusted for non-controlling interests and non-gold producing companies | 89 | 71 | 7 | 167 | 40 | 133 | 43 | 1 | 217 | - |
All-in sustaining costs | 89 | 71 | 7 | 167 | 43 | 133 | 43 | 1 | 220 | - |
Non-sustaining project capital expenditure | - | 29 | - | 29 | - | - | - | - | - | 3 |
Non-sustaining lease payments | - | - | - | - | - | - | - | - | - | - |
Non-sustaining exploration and study costs | 4 | 2 | 3 | 9 | - | 1 | 1 | - | 2 | 16 |
Care and maintenance | - | - | - | - | - | - | - | - | - | - |
Closure and social responsibility costs not related to current operations | - | - | - | - | - | 9 | - | - | 9 | - |
Other provisions | - | - | - | - | - | - | - | - | - | - |
All-in costs | 93 | 102 | 10 | 205 | 43 | 143 | 44 | 1 | 231 | 19 |
Adjusted for non-controlling interests and non -gold producing companies(1)
| - | - | - | - | (3) | (1) | - | - | (4) | 1 |
All-in costs adjusted for non-controlling interests and non-gold producing companies | 93 | 102 | 10 | 205 | 40 | 142 | 44 | 1 | 227 | 20 |
Gold sold - oz (000)(2)
| 59 | 67 | - | 126 | 42 | 68 | 22 | - | 132 | - |
All-in sustaining cost per ounce - $/oz(3)
| 1,516 | 1,061 | - | 1,324 | 970 | 1,928 | 1,973 | - | 1,635 | - |
All-in cost per ounce - $/oz(3)
| 1,589 | 1,508 | - | 1,625 | 970 | 2,075 | 2,000 | - | 1,717 | - |
Condensed Consolidated Interim Financial Statements for the quarter ended 31 March 2023 - www.AngloGoldAshanti.com |
43
|
For the quarter ended 31 March 2022
| ||||||||||
Operations Australia, Americas and Projects | ||||||||||
(in $ millions, except as otherwise noted) | ||||||||||
AUSTRALIA | AMERICAS | PROJECTS | ||||||||
Sunrise Dam | Tropicana | Australia other | Total Australia | Cerro Vanguardia | AngloGold Ashanti Mineração | Serra Grande | Americas other | Total Americas | ||
Total cash costs | ||||||||||
Cost of sales per segmental information(4)
| 88 | 84 | 7 | 179 | 68 | 105 | 38 | 2 | 213 | - |
- By-product revenue | - | (1) | - | (1) | (26) | (8) | - | - | (34) | - |
- Inventory change | 4 | (1) | - | 3 | (6) | - | (2) | - | (8) | - |
- Amortisation of tangible assets | (10) | (20) | - | (30) | (8) | (19) | (8) | - | (35) | - |
- Amortisation of right of use assets | (3) | (2) | (1) | (6) | - | (6) | (1) | - | (7) | - |
- Amortisation of intangible assets | - | - | - | - | - | - | - | - | - | - |
- Rehabilitation and other non-cash costs | 1 | 2 | - | 3 | 2 | 2 | - | - | 4 | - |
- Retrenchment costs | - | - | - | - | (1) | (1) | - | - | (2) | - |
Total cash costs net of by-product revenue | 80 | 62 | 6 | 148 | 29 | 73 | 27 | 2 | 131 | - |
Adjusted for non-controlling interests, non-gold producing companies and other(1)
| - | - | - | - | (2) | - | - | - | (2) | - |
Total cash costs net of by-product revenue adjusted for non-controlling interests and non-gold producing companies | 80 | 62 | 6 | 148 | 27 | 73 | 27 | 2 | 129 | - |
Gold produced - oz (000)(2)
| 61 | 66 | - | 127 | 41 | 70 | 20 | - | 131 | - |
Total cash costs per ounce - $/oz(3)
| 1,296 | 948 | - | 1,160 | 659 | 1,044 | 1,375 | - | 975 | - |
Condensed Consolidated Interim Financial Statements for the quarter ended 31 March 2023 - www.AngloGoldAshanti.com |
44
|
For the quarter ended 31 March 2022
| ||
AngloGold Ashanti operations - Total | ||
(in $ millions, except as otherwise noted) | ||
JOINT VENTURES | SUBSIDIARIES | |
All-in sustaining costs
| ||
Cost of sales per segmental information(4)
| 80 | 757 |
By-product revenue | - | (36) |
Cost of sales | 80 | 721 |
Amortisation of tangible, intangible and right of use assets | (22) | (134) |
Adjusted for decommissioning and inventory amortisation | - | - |
Corporate administration, marketing and related expenses | - | 18 |
Lease payment sustaining | 1 | 21 |
Sustaining exploration and study costs | - | 3 |
Total sustaining capital expenditure | 17 | 152 |
All-in sustaining costs | 76 | 781 |
Adjusted for non-controlling interests and non -gold producing companies(1)
| - | (19) |
All-in costs adjusted for non-controlling interests and non-gold producing companies | 76 | 762 |
All-in sustaining costs | 76 | 781 |
Non-sustaining project capital expenditure | 2 | 63 |
Non-sustaining lease payments | - | 1 |
Non-sustaining exploration and study costs | 1 | 31 |
Care and maintenance | - | - |
Closure and social responsibility costs not related to current operations | - | 9 |
Other provisions | - | - |
All-in costs | 79 | 885 |
Adjusted for non-controlling interests and non -gold producing companies(1)
| - | (19) |
All-in costs adjusted for non-controlling interests and non-gold producing companies | 79 | 866 |
Gold sold - oz (000)(2)
| 73 | 524 |
All-in sustaining cost per ounce - $/oz(3)
| 1,037 | 1,456 |
All-in cost per ounce - $/oz(3)
| 1,089 | 1,652 |
Condensed Consolidated Interim Financial Statements for the quarter ended 31 March 2023 - www.AngloGoldAshanti.com |
45
|
For the quarter ended 31 March 2022
| |||
AngloGold Ashanti operations - Total | |||
(in $ millions, except as otherwise noted) | |||
JOINT VENTURES | SUBSIDIARIES | ||
Total cash costs | |||
Cost of sales per segmental information(4)
| 80 | 757 | |
- By-product revenue | - | (36) | |
- Inventory change | 3 | (20) | |
- Amortisation of tangible assets | (21) | (115) | |
- Amortisation of right of use assets | (1) | (19) | |
- Amortisation of intangible assets | - | - | |
- Rehabilitation and other non-cash costs | (1) | 4 | |
- Retrenchment costs | - | (2) | |
Total cash costs net of by-product revenue | 60 | 569 | |
Adjusted for non-controlling interests and non-gold producing companies(1)
| - | (16) | |
Total cash costs net of by-product revenue adjusted for non-controlling interests and non-gold producing companies | 60 | 553 | |
Gold produced - oz (000)(2)
| 76 | 512 | |
Total cash costs per ounce - $/oz(3)
| 797 | 1,077 |
Condensed Consolidated Interim Financial Statements for the quarter ended 31 March 2023 - www.AngloGoldAshanti.com |
46
|
For the year ended 31 December 2022
| |
Corporate and other | |
(in $ millions, except as otherwise noted) | |
CORPORATE(5)
| |
All-in sustaining costs
| |
Cost of sales per segmental information(4)
| 4 |
By-product revenue | - |
Cost of sales | 4 |
Amortisation of tangible, intangible and right of use assets | (4) |
Adjusted for decommissioning and inventory amortisation | - |
Corporate administration, marketing and related expenses | 79 |
Lease payment sustaining | 2 |
Sustaining exploration and study costs | - |
Total sustaining capital expenditure | 1 |
All-in sustaining costs | 82 |
Adjusted for non-controlling interests and non-gold producing companies(1)
| - |
All-in sustaining costs adjusted for non-controlling interests and non-gold producing companies | 82 |
All-in sustaining costs | 82 |
Non-sustaining project capital expenditure | - |
Non-sustaining lease payments | - |
Non-sustaining exploration and study costs | - |
Care and maintenance | - |
Closure and social responsibility costs not related to current operations | 7 |
Other provisions | 14 |
All-in costs | 103 |
Adjusted for non-controlling interests and non -gold producing companies(1)
| - |
All-in costs adjusted for non-controlling interests and non-gold producing companies | 103 |
Gold sold - oz (000)(2)
| - |
All-in sustaining cost per ounce - $/oz(3)
| - |
All-in cost per ounce - $/oz(3)
| - |
(1) Adjusting for non-controlling interest of items included in calculation, to disclose the attributable portions only. | |
(2) Attributable portion. | |
(3) In addition to the operational performances of the mines, "all-in sustaining cost per ounce", "all-in cost per ounce" and "total cash costs per ounce" are affected by fluctuations in the currency exchange rate. AngloGold Ashanti reports "all-in sustaining cost per ounce" and "all-in cost per ounce" calculated to the nearest US Dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US Dollar amount and gold produced in ounces.
| |
(4) Refer to Segmental reporting. | |
(5) Corporate includes non-gold producing subsidiaries. |
Condensed Consolidated Interim Financial Statements for the quarter ended 31 March 2023 - www.AngloGoldAshanti.com |
47
|
For the year ended 31 December 2022
| |
Corporate and other | |
(in $ millions, except as otherwise noted) | |
CORPORATE(5)
| |
Total cash costs | |
Cost of sales per segmental information(4)
| 4 |
- By-product revenue | - |
- Inventory change | - |
- Amortisation of tangible assets | (3) |
- Amortisation of right of use assets | (1) |
- Amortisation of intangible assets | - |
- Rehabilitation and other non-cash costs | - |
- Retrenchment costs | - |
Total cash costs net of by-product revenue | - |
Adjusted for non-controlling interests, non-gold producing companies and other(1)
| - |
Total cash costs net of by-product revenue adjusted for non-controlling interests and non-gold producing companies | - |
Gold produced - oz (000) (2)
| - |
Total cash costs per ounce - $/oz(3)
| - |
Condensed Consolidated Interim Financial Statements for the quarter ended 31 March 2023 - www.AngloGoldAshanti.com |
48
|
For the year ended 31 December 2022
| |||||||||
Operations Africa | |||||||||
(in $ millions, except as otherwise noted) | |||||||||
AFRICA | AFRICA | ||||||||
Kibali | Other | Joint Ventures | Iduapriem | Obuasi | Siguiri | Geita | Africa other | Subsidiaries | |
All-in sustaining costs | |||||||||
Cost of sales per segmental information(4)
| 342 | - | 342 | 314 | 266 | 488 | 594 | - | 1,662 |
By-product revenue | (1) | - | (1) | (1) | (1) | - | (1) | - | (3) |
Cost of sales | 341 | - | 341 | 313 | 265 | 488 | 593 | - | 1,659 |
Amortisation of tangible, intangible and right of use assets | (95) | - | (95) | (80) | (40) | (50) | (102) | - | (272) |
Adjusted for decommissioning and inventory amortisation | - | - | - | - | - | - | - | - | - |
Corporate administration, marketing and related expenses | - | - | - | - | - | - | - | - | - |
Lease payment sustaining | 8 | - | 8 | 4 | - | 1 | 22 | - | 27 |
Sustaining exploration and study costs | - | - | - | 2 | - | 5 | 8 | - | 15 |
Total sustaining capital expenditure | 71 | - | 71 | 81 | 79 | 23 | 111 | - | 294 |
All-in sustaining costs | 325 | - | 325 | 320 | 304 | 467 | 632 | - | 1,723 |
Adjusted for non-controlling interests and non -gold producing companies(1)
| - | - | - | - | - | (70) | - | - | (70) |
All-in sustaining costs adjusted for non-controlling interests and non-gold producing companies | 325 | - | 325 | 320 | 304 | 397 | 632 | - | 1,653 |
All-in sustaining costs | 325 | - | 325 | 320 | 304 | 467 | 632 | - | 1,723 |
Non-sustaining project capital expenditure | 19 | - | 19 | 65 | 80 | 4 | 43 | - | 192 |
Non-sustaining lease payments | - | - | - | - | - | - | 3 | - | 3 |
Non-sustaining exploration and study costs | 2 | - | 2 | 1 | - | 7 | 5 | - | 13 |
Care and maintenance | - | - | - | - | - | - | - | - | - |
Closure and social responsibility costs not related to current operations | 10 | 1 | 11 | 1 | (23) | - | - | - | (22) |
Other provisions | - | - | - | - | - | - | - | - | - |
All-in costs | 356 | 1 | 357 | 387 | 361 | 478 | 683 | - | 1,909 |
Adjusted for non-controlling interests and non -gold producing companies(1)
| - | - | - | - | - | (72) | - | - | (72) |
All-in costs adjusted for non-controlling interests and non-gold producing companies | 356 | 1 | 357 | 387 | 361 | 406 | 683 | - | 1,837 |
Gold sold - oz (000)(2)
| 332 | - | 332 | 247 | 241 | 278 | 515 | - | 1,281 |
All-in sustaining cost per ounce - $/oz(3)
| 979 | - | 979 | 1,299 | 1,264 | 1,428 | 1,227 | - | 1,291 |
All-in cost per ounce - $/oz(3)
| 1,072 | - | 1,075 | 1,570 | 1,499 | 1,461 | 1,325 | - | 1,434 |
Condensed Consolidated Interim Financial Statements for the quarter ended 31 March 2023 - www.AngloGoldAshanti.com |
49
|
For the year ended 31 December 2022
| ||||||||
Operations Africa | ||||||||
(in $ millions, except as otherwise noted) | ||||||||
AFRICA | AFRICA | |||||||
Kibali | Joint Ventures | Iduapriem | Obuasi | Siguiri | Geita | Africa other | Subsidiaries | |
Total cash costs | ||||||||
Cost of sales per segmental information(4)
| 342 | 342 | 314 | 266 | 488 | 594 | - | 1,662 |
- By-product revenue | (1) | (1) | (1) | (1) | - | (1) | - | (3) |
- Inventory change | 3 | 3 | 3 | 6 | 4 | 7 | (1) | 19 |
- Amortisation of tangible assets | (93) | (93) | (77) | (39) | (49) | (77) | - | (242) |
- Amortisation of right of use assets | (2) | (2) | (3) | - | (1) | (25) | - | (29) |
- Amortisation of intangible assets | - | - | - | (1) | - | - | - | (1) |
- Rehabilitation and other non-cash costs | (4) | (4) | 4 | (2) | (8) | (7) | - | (13) |
- Retrenchment costs | - | - | - | - | - | - | - | - |
Total cash costs net of by-product revenue | 245 | 245 | 240 | 229 | 434 | 491 | (1) | 1,393 |
Adjusted for non-controlling interests, non-gold producing companies and other(1)
| - | - | - | - | (65) | - | - | (65) |
Total cash costs net of by-product revenue adjusted for non-controlling interests and non-gold producing companies | 245 | 245 | 240 | 229 | 369 | 491 | (1) | 1,328 |
Gold produced - oz (000) (2)
| 337 | 337 | 248 | 250 | 279 | 521 | - | 1,298 |
Total cash costs per ounce - $/oz(3)
| 725 | 725 | 970 | 914 | 1,319 | 944 | - | 1,023 |
Condensed Consolidated Interim Financial Statements for the quarter ended 31 March 2023 - www.AngloGoldAshanti.com |
50
|
For the year ended 31 December 2022
| ||||||||||
Operations Australia, Americas and Projects | ||||||||||
(in $ millions, except as otherwise noted) | ||||||||||
AUSTRALIA | AMERICAS | PROJECTS | ||||||||
Sunrise Dam | Tropicana | Australia other | Total Australia | Cerro Vanguardia |
AngloGold Ashanti Mineração
| Serra Grande | Americas other | Total Americas | ||
All-in sustaining costs | ||||||||||
Cost of sales per segmental information(4)
| 371 | 382 | 30 | 783 | 273 | 477 | 162 | 1 | 913 | - |
By-product revenue | (1) | (3) | - | (4) | (75) | (31) | - | - | (106) | - |
Cost of sales | 370 | 379 | 30 | 779 | 198 | 446 | 162 | 1 | 807 | - |
Amortisation of tangible, intangible and right of use assets | (54) | (117) | (1) | (172) | (39) | (106) | (40) | - | (185) | - |
Adjusted for decommissioning and inventory amortisation | - | 1 | - | 1 | 6 | - | (1) | - | 5 | - |
Corporate administration, marketing and related expenses | - | - | - | - | - | - | - | - | - | - |
Lease payment sustaining | 12 | 11 | 1 | 24 | - | 32 | 4 | - | 36 | 1 |
Sustaining exploration and study costs | 1 | 1 | - | 2 | 3 | 1 | - | - | 4 | - |
Total sustaining capital expenditure | 50 | 41 | - | 91 | 66 | 199 | 57 | - | 322 | - |
All-in sustaining costs | 379 | 316 | 30 | 725 | 234 | 572 | 182 | 1 | 989 | 1 |
Adjusted for non-controlling interests and non -gold producing companies(1)
| - | - | - | - | (18) | - | - | - | (18) | - |
All-in sustaining costs adjusted for non-controlling interests and non-gold producing companies | 379 | 316 | 30 | 725 | 216 | 572 | 182 | 1 | 971 | 1 |
All-in sustaining costs | 379 | 316 | 30 | 725 | 234 | 572 | 182 | 1 | 989 | 1 |
Non-sustaining project capital expenditure | - | 111 | - | 111 | - | - | - | - | - | 17 |
Non-sustaining lease payments | - | - | - | - | - | - | - | - | - | - |
Non-sustaining exploration and study costs | 18 | 6 | 19 | 43 | 1 | 9 | 3 | 1 | 14 | 113 |
Care and maintenance | - | - | - | - | - | - | - | - | - | - |
Closure and social responsibility costs not related to current operations | - | - | - | - | - | 16 | 2 | - | 18 | - |
Other provisions | - | - | - | - | - | - | - | - | - | - |
All-in costs | 397 | 433 | 49 | 879 | 235 | 597 | 187 | 2 | 1,021 | 131 |
Adjusted for non-controlling interests and non -gold producing companies(1)
| - | - | - | - | (18) | - | - | - | (18) | - |
All-in costs adjusted for non-controlling interests and non-gold producing companies | 397 | 433 | 49 | 879 | 217 | 597 | 187 | 2 | 1,003 | 131 |
Gold sold - oz (000)(2)
| 228 | 311 | - | 539 | 166 | 310 | 89 | - | 565 | - |
All-in sustaining cost per ounce - $/oz(3)
| 1,666 | 1,014 | - | 1,345 | 1,301 | 1,841 | 2,053 | - | 1,718 | - |
All-in cost per ounce - $/oz(3)
| 1,746 | 1,391 | - | 1,631 | 1,309 | 1,923 | 2,102 | - | 1,775 | - |
Condensed Consolidated Interim Financial Statements for the quarter ended 31 March 2023 - www.AngloGoldAshanti.com |
51
|
For the year ended 31 December 2022
| ||||||||||
Operations Australia, Americas and Projects | ||||||||||
(in $ millions, except as otherwise noted) | ||||||||||
AUSTRALIA | AMERICAS | PROJECTS | ||||||||
Sunrise Dam | Tropicana | Australia other | Total Australia | Cerro Vanguardia |
AngloGold Ashanti Mineração
| Serra Grande | Americas other | Total Americas | ||
Total cash costs | ||||||||||
Cost of sales per segmental information(4)
| 371 | 382 | 30 | 783 | 273 | 477 | 162 | 1 | 913 | - |
- By-product revenue | (1) | (3) | - | (4) | (75) | (31) | - | - | (106) | - |
- Inventory change | 8 | (5) | - | 3 | 9 | 1 | (1) | (1) | 8 | - |
- Amortisation of tangible assets | (43) | (109) | - | (152) | (39) | (79) | (36) | - | (154) | - |
- Amortisation of right of use assets | (11) | (8) | (1) | (20) | - | (27) | (4) | - | (31) | - |
- Amortisation of intangible assets | - | - | - | - | - | - | - | - | - | - |
- Rehabilitation and other non-cash costs | 2 | 12 | (1) | 13 | 2 | (1) | (1) | - | - | - |
- Retrenchment costs | - | - | (1) | (1) | (2) | (2) | (1) | - | (5) | - |
Total cash costs net of by-product revenue | 326 | 269 | 27 | 622 | 168 | 338 | 119 | - | 625 | - |
Adjusted for non-controlling interests, non-gold producing companies and other(1)
| - | - | - | - | (13) | - | - | - | (13) | - |
Total cash costs net of by-product revenue adjusted for non-controlling interests and non-gold producing companies | 326 | 269 | 27 | 622 | 155 | 338 | 119 | - | 612 | - |
Gold produced - oz (000)(2)
| 232 | 306 | - | 538 | 170 | 311 | 88 | - | 569 | - |
Total cash costs per ounce - $/oz(3)
| 1,402 | 881 | - | 1,157 | 913 | 1,088 | 1,355 | - | 1,078 | - |
Condensed Consolidated Interim Financial Statements for the quarter ended 31 March 2023 - www.AngloGoldAshanti.com |
52
|
For the year ended 31 December 2022
| ||
AngloGold Ashanti operations - Total | ||
(in $ millions, except as otherwise noted) | ||
JOINT VENTURES | SUBSIDIARIES | |
All-in sustaining costs
| ||
Cost of sales per segmental information(4)
| 342 | 3,362 |
By-product revenue | (1) | (113) |
Cost of sales | 341 | 3,249 |
Amortisation of tangible, intangible and right of use assets | (95) | (633) |
Adjusted for decommissioning and inventory amortisation | - | 6 |
Corporate administration, marketing and related expenses | - | 79 |
Lease payment sustaining | 8 | 90 |
Sustaining exploration and study costs | - | 21 |
Total sustaining capital expenditure | 71 | 708 |
All-in sustaining costs | 325 | 3,520 |
Adjusted for non-controlling interests and non -gold producing companies(1)
| - | (88) |
All-in costs adjusted for non-controlling interests and non-gold producing companies | 325 | 3,432 |
All-in sustaining costs | 325 | 3,520 |
Non-sustaining project capital expenditure | 19 | 320 |
Non-sustaining lease payments | - | 3 |
Non-sustaining exploration and study costs | 2 | 183 |
Care and maintenance | - | - |
Closure and social responsibility costs not related to current operations | 11 | 3 |
Other provisions | - | 14 |
All-in costs | 357 | 4,043 |
Adjusted for non-controlling interests and non -gold producing companies(1)
| - | (90) |
All-in costs adjusted for non-controlling interests and non-gold producing companies | 357 | 3,953 |
Gold sold - oz (000)(2)
| 332 | 2,385 |
All-in sustaining cost per ounce - $/oz(3)
| 979 | 1,439 |
All-in cost per ounce - $/oz(3)
| 1,075 | 1,658 |
Condensed Consolidated Interim Financial Statements for the quarter ended 31 March 2023 - www.AngloGoldAshanti.com |
53
|
For the year ended 31 December 2022
| |||
AngloGold Ashanti operations - Total | |||
(in $ millions, except as otherwise noted) | |||
JOINT VENTURES | SUBSIDIARIES | ||
Total cash costs | |||
Cost of sales per segmental information(4)
| 342 | 3,362 | |
- By-product revenue | (1) | (113) | |
- Inventory change | 3 | 30 | |
- Amortisation of tangible assets | (93) | (551) | |
- Amortisation of right of use assets | (2) | (81) | |
- Amortisation of intangible assets | - | (1) | |
- Rehabilitation and other non-cash costs | (4) | - | |
- Retrenchment costs | - | (6) | |
Total cash costs net of by-product revenue | 245 | 2,640 | |
Adjusted for non-controlling interests and non-gold producing companies(1)
| - | (78) | |
Total cash costs net of by-product revenue adjusted for non-controlling interests and non-gold producing companies | 245 | 2,562 | |
Gold produced - oz (000)(2)
| 337 | 2,405 | |
Total cash costs per ounce - $/oz(3)
| 725 | 1,066 | |
Condensed Consolidated Interim Financial Statements for the quarter ended 31 March 2023 - www.AngloGoldAshanti.com |
54
|
Mar | Mar | Dec | |
2023 | 2022 | 2022 | |
Unaudited | Unaudited | Unaudited | |
ZAR/USD average for the year to date | 17.75 | 15.21 | 16.37 |
ZAR/USD average for the quarter | 17.75 | 15.21 | 17.60 |
ZAR/USD closing | 17.78 | 14.60 | 17.00 |
AUD/USD average for the year to date | 1.46 | 1.38 | 1.44 |
AUD/USD average for the quarter | 1.46 | 1.38 | 1.52 |
AUD/USD closing | 1.50 | 1.34 | 1.47 |
BRL/USD average for the year to date | 5.20 | 5.23 | 5.16 |
BRL/USD average for the quarter | 5.20 | 5.23 | 5.25 |
BRL/USD closing | 5.08 | 4.74 | 5.22 |
ARS/USD average for the year to date | 192.68 | 106.68 | 130.87 |
ARS/USD average for the quarter | 192.68 | 106.68 | 162.51 |
ARS/USD closing | 208.99 | 110.98 | 177.13 |
Condensed Consolidated Interim Financial Statements for the quarter ended 31 March 2023 - www.AngloGoldAshanti.com |
55
|
AngloGold Ashanti Limited
Registration No. 1944/017354/06
Incorporated in the Republic of South Africa
Share codes:
ISIN: ZAE000043485
JSE: ANG
NYSE: AU
ASX: AGG
GhSE: (Shares) AGA
GhSE: (GhDS) AAD
JSE Sponsor:
The Standard Bank of South Africa Limited
Auditors: PricewaterhouseCoopers Inc.
Offices
Registered and Corporate
112 Oxford Road
Houghton Estate, Johannesburg, 2198
(Private Bag X 20, Rosebank 2196)
South Africa
Telephone: +27 11 637 6000
Fax: +27 11 637 6624
Australia
Level 10, AMP Building,
140 St George's Terrace
Perth, WA 6000
(PO Box Z5046, Perth WA 6831)
Australia
Telephone: +61 8 9425 4602
Fax: +61 8 9425 4662
Ghana
Gold House
Patrice Lumumba Road
(PO Box 2665)
Accra
Ghana
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
LM Goliath
Group Company Secretary
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
Andrea Maxey
Telephone: +61 08 9425 4603
Mobile: +61 400 072 199
E-mail: amaxey@anglogoldashanti.com
AngloGold Ashanti website
www.anglogoldashanti.com
No material on the AngloGold Ashanti website forms any part of, or is incorporated by reference into, this report on Form 6-K. References herein to the Company's website shall not be deemed to cause such incorporation.
PUBLISHED BY ANGLOGOLD ASHANTI
|
Share Registrars
South Africa
Computershare Investor Services (Pty) Limited
Rosebank Towers, 15 Biermann Avenue,
Rosebank, 2196
(PO Box 61051, Marshalltown 2107)
South Africa
Telephone: 0861 100 950 (in SA)
Fax: +27 11 688 5218
E-mail: queries@computershare.co.za
Website : www.computershare.com
Australia
Computershare Investor Services Pty Limited
Level 11, 172 St George's Terrace
Perth, WA 6000
(GPO Box D182 Perth, WA 6840)
Australia
Telephone: +61 8 9323 2000
Telephone: 1300 55 2949 (Australia only)
Fax: +61 8 9323 2033
Ghana
NTHC Limited
18 Gamel Abdul Nasser Avenue
Ringway Estate
Accra, Ghana
Telephone: +233 302 235814/6
Fax: +233 302 229975
ADR Depositary
BNY Mellon (BoNY)
BNY Shareowner Services
PO Box 30170
College Station, TX 77842-3170
United States of America
Telephone: +1 866-244-4140 (Toll free in USA) or
+1 201 680 6825 (outside USA)
E-mail: shrrelations@cpushareownerservices.com
Website: www.mybnymdr.com
Global BuyDIRECTSM
BoNY maintains a direct share purchase and dividend reinvestment plan for ANGLOGOLD ASHANTI.
Telephone: +1-888-BNY-ADRS
|
Condensed Consolidated Interim Financial Statements for the quarter ended 31 March 2023 - www.AngloGoldAshanti.com |
56
|
Exhibit Number | Description | Remarks |
Exhibit 22 |
Subsidiary Issuer of Guaranteed Securities | Filed herewith |
Condensed Consolidated Interim Financial Statements for the quarter ended 31 March 2023 - www.AngloGoldAshanti.com |
57
|
Name of Subsidiary Issuer | Incorporation | Description of Registered Notes |
AngloGold Ashanti Holdings plc | Isle of Man | 3.375% Notes due 2028 |
AngloGold Ashanti Holdings plc | Isle of Man | 3.750% Notes due 2030 |
AngloGold Ashanti Holdings plc | Isle of Man | 6.500% Notes due 2040 |
Condensed Consolidated Interim Financial Statements for the quarter ended 31 March 2023 - www.AngloGoldAshanti.com |
58
|
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
AngloGold Ashanti Ltd. published this content on 23 June 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 June 2023 14:53:28 UTC.