AngloGold Ashanti delivers nine-fold increase in 2024 free cash flow* to $942m versus prior year; Adjusted EBITDA* +93% year-on-year and H2 dividend growth of 263% to 69 US cents per share; total cash costs* +4% for FY 2024, below group inflation
AngloGold Ashanti reported significant financial improvements in 2024, with free cash flow increasing nine-fold to $942m from $109m in 2023. The company's Adjusted EBITDA rose 93% to $2.747bn, while headline earnings reached $954m (221 US cents per share) compared to a loss in 2023.
The company announced a new dividend policy targeting a 50% payout of free cash flow and introducing a base dividend of $0.50 per share annually. An interim dividend of 69 US cents per share was declared for H2 2024, bringing the total 2024 payout to 91 US cents per share.
Group gold production reached 2.661Moz in 2024, including 40,000oz from the newly acquired Sukari mine. Total cash costs rose 4% to $1,157/oz, while all-in sustaining costs increased 4% to $1,611/oz. The company maintained strong cost control, with costs rising less than half the inflation rate for managed operations.
AngloGold Ashanti ha riportato significativi miglioramenti finanziari nel 2024, con un flusso di cassa libero aumentato di nove volte, raggiungendo $942 milioni rispetto ai $109 milioni del 2023. L'EBITDA rettificato dell'azienda è aumentato del 93% a $2,747 miliardi, mentre gli utili netti hanno raggiunto $954 milioni (221 centesimi statunitensi per azione) rispetto a una perdita nel 2023.
L'azienda ha annunciato una nuova politica sui dividendi che prevede un payout del 50% del flusso di cassa libero e l'introduzione di un dividendo base di $0,50 per azione all'anno. Un dividendo intermedio di 69 centesimi statunitensi per azione è stato dichiarato per il secondo semestre del 2024, portando il totale del payout per il 2024 a 91 centesimi statunitensi per azione.
La produzione d'oro del gruppo ha raggiunto 2,661Moz nel 2024, inclusi 40.000 once dalla nuova miniera di Sukari acquisita. I costi di cassa totali sono aumentati del 4% a $1,157/oncia, mentre i costi sostenibili complessivi sono aumentati del 4% a $1,611/oncia. L'azienda ha mantenuto un forte controllo sui costi, con un aumento dei costi inferiore alla metà del tasso di inflazione per le operazioni gestite.
AngloGold Ashanti reportó mejoras financieras significativas en 2024, con un flujo de caja libre que aumentó nueve veces, alcanzando $942 millones desde $109 millones en 2023. El EBITDA ajustado de la compañía aumentó un 93% a $2.747 mil millones, mientras que las ganancias netas alcanzaron $954 millones (221 centavos estadounidenses por acción) en comparación con una pérdida en 2023.
La empresa anunció una nueva política de dividendos que tiene como objetivo un pago del 50% del flujo de caja libre e introduce un dividendo base de $0.50 por acción anualmente. Se declaró un dividendo interino de 69 centavos estadounidenses por acción para el segundo semestre de 2024, llevando el total del pago de 2024 a 91 centavos estadounidenses por acción.
La producción de oro del grupo alcanzó 2.661Moz en 2024, incluyendo 40,000 onzas de la recién adquirida mina Sukari. Los costos de efectivo totales aumentaron un 4% a $1,157/onza, mientras que los costos sostenibles totales también aumentaron un 4% a $1,611/onza. La empresa mantuvo un fuerte control de costos, con un aumento de costos inferior a la mitad de la tasa de inflación para las operaciones gestionadas.
앵글로골드 아샨티는 2024년에 상당한 재정 개선을 보고했으며, 자유 현금 흐름이 2023년의 1억 9천만 달러에서 9배 증가하여 9억 4천2백만 달러에 달했습니다. 회사의 조정 EBITDA는 93% 증가하여 27억 4천7백만 달러에 이르렀고, 헤드라인 수익은 2023년의 손실과 비교하여 9억 5천4백만 달러(주당 221센트)에 도달했습니다.
회사는 자유 현금 흐름의 50%를 배당금으로 지급하고, 연간 주당 0.50달러의 기본 배당금을 도입하는 새로운 배당금 정책을 발표했습니다. 2024년 하반기를 위해 주당 69센트의 중간 배당금이 선언되어 2024년 총 배당금이 주당 91센트에 이르게 됩니다.
그룹의 금 생산량은 2024년에 2.661Moz에 도달했으며, 여기에는 새로 인수한 수카리 광산에서의 40,000온스가 포함됩니다. 총 현금 비용은 4% 증가하여 온스당 1,157달러에 도달했으며, 총 지속 가능한 비용은 4% 증가하여 온스당 1,611달러에 이르렀습니다. 회사는 비용 증가가 관리 운영의 인플레이션율의 절반도 안 되는 강력한 비용 통제를 유지했습니다.
AngloGold Ashanti a rapporté des améliorations financières significatives en 2024, avec un flux de trésorerie libre multiplié par neuf, atteignant 942 millions de dollars, contre 109 millions de dollars en 2023. L'EBITDA ajusté de l'entreprise a augmenté de 93% pour atteindre 2,747 milliards de dollars, tandis que les bénéfices nets ont atteint 954 millions de dollars (221 cents américains par action) par rapport à une perte en 2023.
L'entreprise a annoncé une nouvelle politique de dividende visant un paiement de 50% du flux de trésorerie libre et introduisant un dividende de base de 0,50 $ par action annuellement. Un dividende intérimaire de 69 cents américains par action a été déclaré pour le second semestre 2024, portant le total des paiements pour 2024 à 91 cents américains par action.
La production d'or du groupe a atteint 2,661Moz en 2024, y compris 40 000 onces de la nouvelle mine de Sukari acquise. Les coûts de trésorerie totaux ont augmenté de 4% pour atteindre 1 157 $/once, tandis que les coûts de maintien globaux ont augmenté de 4% pour atteindre 1 611 $/once. L'entreprise a maintenu un fort contrôle des coûts, les coûts ayant augmenté de moins de la moitié du taux d'inflation des opérations gérées.
AngloGold Ashanti berichtete 2024 von erheblichen finanziellen Verbesserungen, wobei der freie Cashflow von 109 Millionen US-Dollar im Jahr 2023 auf 942 Millionen US-Dollar anstieg, was einer neunfachen Steigerung entspricht. Das bereinigte EBITDA des Unternehmens stieg um 93% auf 2,747 Milliarden US-Dollar, während der Gewinn bei 954 Millionen US-Dollar (221 US-Cent pro Aktie) lag, im Vergleich zu einem Verlust im Jahr 2023.
Das Unternehmen gab eine neue Dividendenpolitik bekannt, die eine Ausschüttung von 50% des freien Cashflows anstrebt und eine Basisdividende von 0,50 US-Dollar pro Aktie jährlich einführt. Eine Zwischendividende von 69 US-Cent pro Aktie wurde für das zweite Halbjahr 2024 erklärt, was die Gesamtausschüttung für 2024 auf 91 US-Cent pro Aktie bringt.
Die Goldproduktion der Gruppe erreichte 2,661Moz im Jahr 2024, einschließlich 40.000 Unzen aus der neu erworbenen Sukari-Mine. Die Gesamtkosten in bar stiegen um 4% auf 1.157 US-Dollar pro Unze, während die All-in-Nachhaltigkeitskosten um 4% auf 1.611 US-Dollar pro Unze anstiegen. Das Unternehmen hielt die Kostenkontrolle aufrecht, wobei die Kosten weniger als die Hälfte der Inflationsrate für die verwalteten Betriebe stiegen.
- Free cash flow increased 763% to $942m from $109m in 2023
- Adjusted EBITDA rose 93% to $2.747bn
- Headline earnings improved to $954m from -$46m loss in 2023
- New dividend policy with 50% payout ratio and $0.50 base annual dividend
- Strong balance sheet with lowest leverage since 2011 (0.21x net debt/EBITDA)
- Gold production increased with addition of Sukari mine
- Cost control success with total cash costs rising only 4% despite 6.6% inflation
- Total cash costs increased 4% to $1,157/oz
- All-in sustaining costs rose 4% to $1,611/oz
- Production declined at several mines: Iduapriem (-12%), Kibali (-10%), Serra Grande (-7%)
Higher revenues were reflected in significantly stronger cash flow and earnings in a year where costs rose by less than half the inflation rate for managed operations, and the Company focused on active management of working capital.
Free cash flow* rose to
"The significant growth in free cash flow* — to almost a billion dollars in 2024 — is a result of our focus on continued operational and efficiency improvements, which in turn have allowed us to capture the benefit of a healthy gold price,” CEO Alberto Calderon said. “With the business receiving appropriate investment and the balance sheet at its strongest position in well over a decade, we’re able to pass on those benefits to shareholders in a more generous dividend policy.”
Headline earnings(5) of
New Dividend Policy Improves Competitiveness
As a result of improved operational fundamentals, a robust balance sheet, and increased confidence in the Company’s outlook, the Company’s Board of Directors has approved a revised dividend policy aimed at delivering enhanced and sustainable shareholder returns. Under the new policy, AngloGold Ashanti will target a
An interim dividend of
The new policy is an important part of a balanced capital allocation framework. The leverage target — a maximum of one times Adjusted net debt* to Adjusted EBITDA*, through the cycle — remains unchanged, as does ensuring a well capitalised portfolio and the ability to fund growth projects.
Lowest Leverage Since 2011
The balance sheet remained in a strong position after funding all capital expenditure, the prior dividend payment and the cash portion of the acquisition of Centamin plc (“Centamin”). At the end of 2024, Adjusted net debt* was
Improved Fundamentals Support 2024 Performance
AngloGold Ashanti posted strong performances from several key operations during 2024, demonstrating improved operational resilience. The Australian mines recovered well from rains and flooding in the first half of the year, while Siguiri finished the year well after Q1 2024 production was impacted by metallurgical recovery challenges.
The marked operational turnaround of the Brazilian operations also continued to gain momentum following resumption of concentrate processing at the Queiroz plant during Q3 2024. Obuasi delivered an improved Q4 2024 performance, in line with its revised mine plan, amid improved sub-level open stoping and the continued rollout of the underhand drift and fill method.
The Company’s Total Recordable Injury Frequency Rate (“TRIFR”) of 0.98 injuries per million hours worked in 2024 improved compared to 1.09 in 2023, and remains far better than the average 2023 performance of 2.59 injuries per million hours worked by the members of the International Council on Mining and Metals.
Group gold production(2)(3)(4), including 40,000oz from Sukari, was 2.661Moz for 2024. Gold production(2)(3)(4) for the year was driven by year-on-year improvements at Cuiabá (AGA Mineração) (+
The solid gold production performance from AngloGold Ashanti’s managed operations, alongside continued implementation of the Full Asset Potential programme and increased vigilance on expenditures at the site level, delivered a strong overall cost performance despite persistent inflation across several of its operating jurisdictions. The aggregate inflation rate for the group was about
Total cash costs per ounce* for the group(1)(2)(3) rose
Continued Exploration Success
The Company has achieved significant exploration success over the past five years, adding 20.9Moz to its gold Mineral Reserve before accounting for depletion and including the acquisition of Centamin. This marks the seventh consecutive year that AngloGold Ashanti has recorded annual increases in gold Mineral Reserve before depletion. Following the acquisition of Centamin, total group Mineral Reserve at the end of 2024, was 31.2Moz, total group gold Measured and Indicated Mineral Resource was 67.1Moz and total group gold Inferred Mineral Resource was 55.0Moz.
Strong Operational Performance Recorded in Q4 2024
Gold production for the group(1)(2)(3)(4), including 40,000oz from the newly acquired Sukari mine, was 750,000oz for Q4 2024 versus 738,000oz in Q4 2023.
Total cash costs per ounce* for the group(1)(2)(3) increased
Headline earnings(5) of
Sukari Acquisition Bolsters Portfolio
On 22 November 2024, the acquisition of Centamin was successfully completed. Integration of the Sukari gold mine, and Eastern Desert Exploration commenced immediately. Sukari contributed 40,000oz of gold production at a total cash cost* of
“The addition of Sukari, a true tier-one operation, provides a step-change in our production profile, while improving the cost outlook and enhancing cash flow generation”, CEO Alberto Calderon said.
Outlook(6)
The Company is pleased to provide updated 2025 guidance, following the successful integration of Sukari into the portfolio. Gold production for the group(2)(3)(4) is forecast to range between 2,900Moz and 3,225Moz. Total cash cost* for the group(2)(3) is forecast to range between
(1) All financial periods within the financial year ended 31 December 2023 have been adjusted to exclude the Córrego do Sítio (“CdS”) operation that was placed on care and maintenance in August 2023.
(2) The term “managed operations” refers to subsidiaries managed by AngloGold Ashanti and included in its consolidated reporting, while the term “non-managed joint ventures” (i.e., Kibali) refers to equity-accounted joint ventures that are reported based on AngloGold Ashanti's share of attributable earnings and are not managed by AngloGold Ashanti. Managed operations are reported on a consolidated basis. Non-managed joint ventures are reported on an attributable basis.
(3) On 22 November 2024, the acquisition of Centamin was successfully completed. Centamin was included in the financial year ended 31 December 2024 from the effective date of acquisition.
(4) Includes gold concentrate from the Cuiabá mine sold to third parties.
(5) The financial measures “headline earnings (loss)” and “headline earnings (loss) per share” are not calculated in accordance with IFRS® Accounting Standards, but in accordance with the Headline Earnings Circular 1/2023, issued by the South African Institute of Chartered Accountants (SAICA), at the request of the Johannesburg Stock Exchange Limited (JSE). These measures are required to be disclosed by the JSE Listings Requirements and therefore do not constitute Non-GAAP financial measures for purposes of the rules and regulations of the US Securities and Exchange Commission (“SEC”) applicable to the use and disclosure of Non-GAAP financial measures.
(6) Refer to the disclaimer below the heading “Guidance” in the full announcement for further information.
* Refer to “Non-GAAP disclosure” for definitions and reconciliations.
Key Statistics |
|
Quarter |
Quarter |
Year |
Year |
|
|
ended |
ended |
ended |
ended |
||
|
Dec |
Dec |
Dec |
Dec |
||
US Dollar million, except as otherwise noted |
|
2024 |
2023 |
2024 |
2023 |
|
Operating review |
|
|
|
|
|
|
Gold |
|
|
|
|
|
|
Produced - Group (1) (2) (3) (4) |
- oz (000) |
750 |
738 |
2,661 |
2,644 |
|
Produced - Managed operations (1) (2) (3) (4) |
- oz (000) |
670 |
645 |
2,352 |
2,301 |
|
Produced - Non-managed joint ventures (2) |
- oz (000) |
80 |
93 |
309 |
343 |
|
|
|
|
|
|
|
|
Sold - Group (1) (2) (3) (4) |
- oz (000) |
725 |
711 |
2,679 |
2,624 |
|
Sold - Managed operations(1) (2) (3) (4) |
- oz (000) |
647 |
619 |
2,370 |
2,281 |
|
Sold - Non-managed joint ventures (2) |
- oz (000) |
78 |
92 |
309 |
343 |
|
|
|
|
|
|
|
|
Financial review |
|
|
|
|
|
|
Gold income |
- $m |
1,716 |
1,223 |
5,673 |
4,480 |
|
Cost of sales - Group |
- $m |
1,144 |
1,023 |
4,106 |
3,913 |
|
Cost of sales - Managed operations |
- $m |
1,043 |
929 |
3,726 |
3,541 |
|
Cost of sales - Non-managed joint ventures |
- $m |
101 |
94 |
380 |
372 |
|
Total operating costs |
- $m |
815 |
740 |
2,911 |
2,870 |
|
Gross profit |
- $m |
707 |
327 |
2,067 |
1,041 |
|
|
|
|
|
|
|
|
Average gold price received per ounce* - Group (1) (2) (3) |
- $/oz |
2,653 |
1,971 |
2,394 |
1,930 |
|
Average gold price received per ounce* - Managed operations (1) (2) (3) |
- $/oz |
2,652 |
1,969 |
2,393 |
1,927 |
|
Average gold price received per ounce* - Non-managed joint ventures (2) |
- $/oz |
2,662 |
1,984 |
2,401 |
1,948 |
|
All-in sustaining costs per ounce* - Group (1) (2) (3) |
- $/oz |
1,647 |
1,598 |
1,611 |
1,544 |
|
All-in sustaining costs per ounce* - Managed operations (1) (2) (3) |
- $/oz |
1,702 |
1,701 |
1,672 |
1,634 |
|
All-in sustaining costs per ounce* - Non-managed joint ventures (2) |
- $/oz |
1,188 |
907 |
1,146 |
951 |
|
All-in costs per ounce* - Group (1) (2) (3) |
- $/oz |
1,840 |
1,794 |
1,846 |
1,754 |
|
All-in costs per ounce* - Managed operations (1) (2) (3) |
- $/oz |
1,895 |
1,909 |
1,910 |
1,857 |
|
All-in costs per ounce* - Non-managed joint ventures (2) |
- $/oz |
1,388 |
1,023 |
1,351 |
1,074 |
|
Total cash costs per ounce* - Group (1) (2) (3) |
- $/oz |
1,144 |
1,050 |
1,157 |
1,115 |
|
Total cash costs per ounce* - Managed operations (1) (2) (3) |
- $/oz |
1,165 |
1,092 |
1,187 |
1,162 |
|
Total cash costs per ounce* - Non-managed joint ventures (2) |
- $/oz |
967 |
761 |
935 |
802 |
|
|
|
|
|
|
|
|
Profit before taxation |
- $m |
698 |
144 |
1,672 |
63 |
|
Adjusted EBITDA* |
- $m |
884 |
574 |
2,747 |
1,420 |
|
Total borrowings |
- $m |
2,125 |
2,410 |
2,125 |
2,410 |
|
Adjusted net debt* |
- $m |
567 |
1,268 |
567 |
1,268 |
|
|
|
|
|
|
|
|
Profit (loss) attributable to equity shareholders |
- $m |
470 |
28 |
1,004 |
(235) |
|
|
- US cents/share |
103 |
7 |
233 |
(56) |
|
Headline earnings (loss) (5) |
- $m |
405 |
87 |
954 |
(46) |
|
|
- US cents/share |
89 |
21 |
221 |
(11) |
|
Net cash inflow from operating activities |
- $m |
690 |
404 |
1,968 |
971 |
|
Free cash flow* |
- $m |
389 |
293 |
942 |
109 |
|
Capital expenditure - Group(2)(3) |
- $m |
369 |
357 |
1,215 |
1,127 |
|
Capital expenditure - Managed operations(2)(3) |
- $m |
333 |
334 |
1,090 |
1,042 |
|
Capital expenditure - Non-managed joint ventures (2) |
- $m |
36 |
23 |
125 |
85 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1)All financial periods within the financial year ended 31 December 2023 have been adjusted to exclude the Córrego do Sítio (“CdS”) operation that was placed on care and maintenance in August 2023. All gold production, gold sold, average gold price received per ounce*, all-in sustaining costs per ounce*, all-in costs per ounce* and total cash costs per ounce* metrics in this document have been adjusted to exclude the CdS operation, unless otherwise stated. |
||||||
(2)The term “managed operations” refers to subsidiaries managed by AngloGold Ashanti and included in its consolidated reporting, while the term “non-managed joint ventures” (i.e., Kibali) refers to equity-accounted joint ventures that are reported based on AngloGold Ashanti’s share of attributable earnings and are not managed by AngloGold Ashanti. Managed operations are reported on a consolidated basis. Non-managed joint ventures are reported on an attributable basis. |
||||||
(3)On 22 November 2024, the acquisition of Centamin was successfully completed. Centamin was included in the financial year ended 31 December 2024 from the effective date of the acquisition. |
||||||
(4)Includes gold concentrate from the Cuiabá mine sold to third parties. |
||||||
(5)The financial measures “headline earnings (loss)” and “headline earnings (loss) per share” are not calculated in accordance with IFRS® Accounting Standards, but in accordance with the Headline Earnings Circular 1/2023, issued by the South African Institute of Chartered Accountants (SAICA), at the request of the Johannesburg Stock Exchange Limited (JSE). These measures are required to be disclosed by the JSE Listings Requirements and therefore do not constitute Non-GAAP financial measures for purposes of the rules and regulations of the US Securities and Exchange Commission (“SEC”) applicable to the use and disclosure of Non-GAAP financial measures. |
||||||
* Refer to “Non-GAAP disclosure” in the Full Announcement for definitions and reconciliations. |
||||||
$ represents US Dollar, unless otherwise stated. |
||||||
Rounding of figures may result in computational discrepancies. |
||||||
AngloGold Ashanti plc today announces an interim dividend for the six months ended 31 December 2024 of 69 US cents per share. In respect of the interim dividend, the timelines, including dates for currency conversions, set out below will apply.
To holders of ordinary shares on the New York Stock Exchange (NYSE)
2025 |
|
Ex-dividend on NYSE |
Friday, 14 March |
Record date |
Friday, 14 March |
Payment date |
Friday, 28 March |
To holders of ordinary shares on the South African Register
Additional information for South African resident shareholders of AngloGold Ashanti:
Shareholders registered on the South African section of the register are advised that the distribution of 69 US cents per ordinary share will be converted to South African rands at the applicable exchange rate.
In compliance with the requirements of Strate and the Johannesburg Stock Exchange (JSE) Listings Requirements, the salient dates for payment of the dividend are as follows:
2025 |
|
Declaration date |
Wednesday, 19 February |
Currency conversion rate for South African rands announcement date |
Friday, 7 March |
Last date to trade ordinary shares cum dividend |
Tuesday, 11 March |
Ordinary shares trade ex-dividend |
Wednesday, 12 March |
Record date |
Friday, 14 March |
Payment date |
Friday, 28 March |
Dividends in respect of dematerialised shareholdings will be credited to shareholders’ accounts with the relevant CSDP (as defined below) or broker.
To comply with further requirements of Strate, share certificates may not be dematerialised or rematerialised between Wednesday, 12 March 2025 and Friday, 14 March 2025, both days inclusive. No transfers between South African, NYSE and Ghanaian share registers will be permitted between Friday, 7 March 2025 and Friday, 14 March 2025, both days inclusive.
Details of the exchange rates applicable to the dividend and a summary of the tax considerations applicable to South African shareholders is expected to be published on Friday, 7 March 2025.
To Beneficial Owners on the
2025 |
|
Currency conversion date |
Friday, 7 March |
Last date to trade and to register shares cum dividend |
Tuesday, 11 March |
Shares trade ex-dividend |
Wednesday, 12 March |
Record date |
Friday, 14 March |
Approximate payment date of dividend |
Friday, 28 March |
To Beneficial Owners holding Ghanaian Depositary Shares (GhDSs) and acting by National Trust Holding Company Ltd as depository agent 100 GhDSs represent one ordinary share
2025 |
|
Currency conversion date |
Friday, 7 March |
Last date to trade and to register GhDSs cum dividend |
Tuesday, 11 March |
GhDSs trade ex-dividend |
Wednesday, 12 March |
Record date |
Friday, 14 March |
Approximate payment date of dividend |
Friday, 28 March |
Beneficial owners on the
Entitlement to interim dividends
A “Shareholder of Record” is a person appearing on the register of members of the Company in respect of ordinary shares at the close of business on the relevant record date. A “Beneficial Owner” is a person who holds ordinary shares of the Company through a bank, broker, central securities depository participant (“CSDP”), Shareholder of Record or other agent (sometimes referred to as holding shares “in street name”).
AngloGold Ashanti plc
(Incorporated in
Registration No. 14654651
LEI No. 2138005YDSA7A82RNU96
ISIN: GB00BRXH2664
CUSIP: G0378L100
NYSE Share code: AU
JSE Share code: ANG
A2X Share code: ANG
GhSE (Shares): AGA
GhSE (GhDS): AAD
19 February 2025
JSE Sponsor: The Standard Bank of South Africa Limited
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 and the outcome and consequences of any potential or pending litigation or regulatory proceedings or environmental, health and safety issues, are forward-looking statements regarding AngloGold Ashanti’s financial reports, operations, economic performance and financial condition. These forward-looking statements or forecasts are not based on historical facts, but rather reflect our current beliefs and expectations concerning future events and generally may be identified by the use of forward-looking words, phrases and expressions such as “believe”, “expect”, “aim”, “anticipate”, “intend”, “foresee”, “forecast”, “predict”, “project”, “estimate”, “likely”, “may”, “might”, “could”, “should”, “would”, “seek”, “plan”, “scheduled”, “possible”, “continue”, “potential”, “outlook”, “target” or other similar words, phrases, and expressions; provided that the absence thereof does not mean that a statement is not forward-looking. Similarly, statements that describe our objectives, plans or goals are or may be forward-looking statements. These forward-looking statements or forecasts involve known and unknown risks, uncertainties and other factors that may cause AngloGold Ashanti’s actual results, performance, actions or achievements to differ materially from the anticipated results, performance, actions or achievements expressed or implied in these forward-looking statements. Although AngloGold Ashanti believes that the expectations reflected in such forward-looking statements and forecasts are reasonable, no assurance can be given that such expectations will prove to have been correct. Accordingly, results, performance, actions or achievements could differ materially from those set out in the forward-looking statements as a result of, among other factors, changes in economic, social, political and market conditions, including related to inflation or international conflicts, the success of business and operating initiatives, changes in the regulatory environment and other government actions, including environmental approvals, fluctuations in gold prices and exchange rates, the outcome of pending or future litigation proceedings, any supply chain disruptions, any public health crises, pandemics or epidemics (including the COVID-19 pandemic), the failure to maintain effective internal control over financial reporting or effective disclosure controls and procedures, the inability to remediate one or more material weaknesses, or the discovery of additional material weaknesses, in the Company’s internal control over financial reporting, and other business and operational risks and challenges and other factors, including mining accidents. For a discussion of such risk factors, refer to AngloGold Ashanti’s annual report on Form 20-F for the financial year ended 31 December 2023 filed with the United States Securities and Exchange Commission (SEC). These factors are not necessarily all of the important factors that could cause AngloGold Ashanti’s actual results, performance, actions or achievements to differ materially from those expressed in any forward-looking statements. Other unknown or unpredictable factors could also have material adverse effects on AngloGold Ashanti’s future results, performance, actions or achievements. Consequently, readers are cautioned not to place undue reliance on forward-looking statements. AngloGold Ashanti undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except to the extent required by applicable law. All subsequent written or oral forward-looking statements attributable to AngloGold Ashanti or any person acting on its behalf are qualified by the cautionary statements herein.
Non-GAAP financial measures
This communication may contain certain “Non-GAAP” financial measures. AngloGold Ashanti utilises certain Non-GAAP performance measures and ratios in managing its business. Non-GAAP financial measures should be viewed in addition to, and not as an alternative for, the reported operating results or cash flow from operations or any other measures of performance prepared in accordance with IFRS. In addition, the presentation of these measures may not be comparable to similarly titled measures other companies may use.
Website: www.anglogoldashanti.com
December 2024 Published 19 February 2025
View source version on businesswire.com: https://www.businesswire.com/news/home/20250219334902/en/
Media
Andrea Maxey: +61 08 9425 4603 / +61 400 072 199 amaxey@anglogoldashanti.com
General inquiries: media@anglogoldashanti.com
Investors
Yatish Chowthee: +27 11 637 6273 / +27 78 364 2080 yrchowthee@anglogoldashanti.com
Andrea Maxey: +61 08 9425 4603 / +61 400 072 199 amaxey@anglogoldashanti.com
Source: AngloGold Ashanti plc
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