AngloGold Ashanti Q3 2023 Production Update
- Gold production for Q3 2023 increased by 3% compared to Q2 2023, reaffirming annual production guidance. The company recorded no fatalities in the nine months ended 30 September 2023, and the Total Recordable Injury Frequency Rate improved by 13% compared to the same period last year.
- None.
For the three months ended 30 September 2023
OVERVIEW
AngloGold Ashanti plc ("AngloGold Ashanti", "AGA" or the "Company") has reaffirmed annual production guidance for 2023 after third-quarter gold production improved versus the second quarter, continuing the recovery from setbacks faced in the first and second quarters of this year at its mines in
AngloGold Ashanti continued to build momentum during the three months ended 30 September 2023, recording a
Gold production gains quarter-on-quarter were recorded at Iduapriem (+
AngloGold Ashanti has been actively taking measures to close the value gap with its international peers. These efforts involve initiatives to enhance cost-efficiency and extend the life of its mines while also prioritising safety, optimising cash flow, and ensuring the successful delivery of projects. During the period, the Company also completed the migration of its primary listing to the NYSE on 25 September 2023, to enable enhanced access to the world's largest capital market and improved positioning alongside the gold industry's most highly valued companies.
"Gold production has improved in the third quarter of 2023 and is expected to step up again over the remainder of the year, in line with our guidance,” CEO Alberto Calderon said. “We continue the work across a number of fronts to enhance our competitiveness versus our peers; our corporate restructuring is complete, we’ve continued to sharpen our operational and project focus, and we’re on track to deliver on our decarbonisation commitments."
As part of the approach to narrow management focus and direct its capital allocation to the Company’s Tier One and Tier Two operating assets, as well as its high- return development projects, AngloGold Ashanti commenced the process of placing its loss-making CdS mine on care and maintenance during August 2023, and completed the sale of its
The Company continues to progress studies related to its first development in the Beatty Mining District in
Furthermore, the decarbonisation programme has been advancing at both the Geita site, in
Additional salient points from the third quarter of 2023 include:
- Geita recorded improved gold production versus the prior quarter of 2023 and is on track for a strong finish to the year with a production target of 500koz.
-
Kibali’s gold production rose
13% versus the prior quarter of 2023 and19% versus the same period last year. The improved performance was mainly driven by higher ore tonnes processed and recovered grades. Successful exploration is expected to more than replace reserves depleted by mining this year. -
Iduapriem recorded a
27% quarter-on-quarter production improvement as mine throughput increased following commissioning of the new tailings’ storage facility. Grades improved after accelerating access to higher-grade blocks.
- Siguiri posted a strong quarter-on-quarter increase in production, as the mine stepped up production to near-normal levels following the carbon-in-leach (“CIL”) tank failure during the second quarter of 2023. Whilst throughput stepped up, recovery rates are anticipated to improve by year end, as the remaining CIL tanks are re-commissioned and reintroduced into the processing circuit.
-
Sunrise Dam’s Full Asset Potential (“FP”) review programme continues to deliver positive results as underground ore tonnes mined continued to show steady improvement. During the third quarter of 2023, the mine recorded an
18% year-on-year improvement in underground ore tonnes processed. - Gold production at Obuasi was lower mainly due to poor ground conditions in high grade areas at the current mining front. In line with our commitment to ensure the safety of our people, the decision was taken to review the mining method employed for such high-grade areas. Following that review, a pilot study for the transition from sub-level open stoping to underhand cut and fill is now underway.
- At AGA Mineração, the decision was taken to place the CdS mine on care and maintenance in August 2023.
For the nine months ended 30 September 2023, gold production was 1.909Moz, compared to 1.971Moz in the same period last year. The production shortfall over the nine-month period in 2023 versus the same period last year was mainly due to issues we have flagged previously, such as the CIL tank failure during the second quarter of 2023 at the Siguiri mine in
|
Quarter ended
|
Quarter ended
|
Quarter ended
|
Nine months ended
|
Nine months ended
|
|
Produced |
oz (000) |
673 |
652 |
738 |
1,909 |
1,971 |
Tonnes treated |
|
|
|
|
|
|
Open-pit |
tonnes (000) |
6,955 |
6,381 |
7,090 |
19,939 |
21,096 |
Underground |
tonnes (000) |
2,987 |
2,940 |
3,155 |
8,551 |
8,978 |
Other |
tonnes (000) |
717 |
810 |
552 |
2,141 |
1,481 |
Total |
tonnes (000) |
10,659 |
10,131 |
10,797 |
30,631 |
31,555 |
Recovered grade |
|
|
|
|
|
|
Open-pit |
g/tonne |
1.25 |
1.23 |
1.29 |
1.22 |
1.18 |
Underground |
g/tonne |
3.53 |
3.60 |
4.26 |
3.55 |
3.97 |
Other |
g/tonne |
2.40 |
2.27 |
0.61 |
2.14 |
0.58 |
Total |
g/tonne |
1.96 |
2.00 |
2.13 |
1.94 |
1.94
|
OPERATING HIGHLIGHTS
In the
Gold production was
In
Gold production at Iduapriem was
At Obuasi, gold production was 46,000oz for the quarter ended 30 September 2023, compared to 72,000oz for the quarter ended 30 September 2022. Gold production was
Gold production at Obuasi was
Production was negatively impacted by poor ground conditions within some of the higher-grade stopes. During August we lost some underground mining equipment as a result of a fall-of-ground incident in one of the mine’s high-grade stopes. Although nobody was injured in the incident, the decision was taken to proceed more slowly to ensure safety of our operators.
During the month of October we have begun using significantly larger drilling equipment (the V30 reamer) to establish new stopes, which in turn is allowing us to safely increase production and reach similar levels of production to those achieved last year. Going forward, Obuasi is also pursuing a change in mining approach in high-grade areas to a more selective method suitable for difficult ground conditions and higher-grade ores (underhand cut and fill). The transition to this new method in higher-grade areas is expected to take place throughout 2024 following an initial trial period. As a result of the change in mining method, Obuasi is now forecast to produce at levels similar to last year in 2023, and close to 300,000oz in 2024, as it continues its ramp-up.
In
Gold production at Geita was
In the
Gold production at Siguiri recovered strongly quarter-on-quarter, rising from 45,000oz in the second quarter of 2023 to 55,000oz in the third quarter of 2023, following the restoration of processing capacity. Gold production was
In the DRC, at Kibali, gold production was 99,000oz for the quarter ended 30 September 2023, compared to 83,000oz for the quarter ended 30 September 2022. Gold production was
Gold production at Kibali was
In the
Gold production was
In
Gold production at AGA Mineração was
At Serra Grande, gold production was 24,000oz for the quarter ended 30 September 2023, compared to 22,000oz for the quarter ended 30 September 2022. Gold production was
Gold production at Serra Grande was
In
Gold production at Cerro Vanguardia was
In the
Gold production was flat quarter-on-quarter at 140,000oz, as higher gold production at Tropicana was offset by lower gold production at Sunrise Dam.
At Sunrise Dam, gold production was 64,000oz for the third quarter of 2023 compared to 57,000oz for the quarter ended 30 September 2022. Gold production was
Gold production at Sunrise Dam was
At Tropicana, gold production was 76,000oz for the third quarter of 2023 compared to 86,000oz for the quarter ended 30 September 2022. Gold production was
Gold production at Tropicana was
GUIDANCE
The Company previously provided guidance for 2023, which remains unchanged. The Company remains on track to achieve full year gold production guidance. Gold production is expected to be second half weighted, with fourth quarter gold production expected to be the strongest out of all the quarters this year.
SAFETY
The Company recorded no fatalities in the nine months ended 30 September 2023.
The Total Recordable Injury Frequency Rate (“TRIFR”) for the nine months ended 30 September 2023 improved
UPDATE ON CAPITAL PROJECTS
Obuasi
Phase 3 of the Obuasi Redevelopment Project, which relates principally to dewatering and refurbishing existing infrastructure around the KMS shaft in order to improve overall mining flexibility and access to the higher-grade Block 11 area in future years, reached
The pace of project work below 50 Level has been slowed down mainly due to unexpectedly heavy rainfall, necessitating increased pumping from underground, and also the discovery of unanticipated levels of residual mud following the dewatering of that area. This has delayed delivery of the project, which is now expected to be complete in the second half of next year, although the overall capital budget for the project remains unchanged.
Despite the project delay, successful debottlenecking of existing infrastructure has created capacity to move about 6,000tpd of material from the existing decline and KRS shaft alone. Once the KMS shaft is recommissioned, Obuasi’s overall materials hoisting capacity and flexibility are expected to significantly improve, taking overall maximum hoisting capacity to about 12,000tpd.
Thus, the optimisation of mill feed will extend across the whole 8km strike ore body via the Cote D’or decline to the north, and high-grade ore from the deeper Block 11 via the KMS shaft located in the central portion of the Obuasi ore body, extending to the southern limits of the ore body via KRS shaft and Obuasi Development Decline.
The following activities took place during the third quarter of 2023:
- Completion of final KMS rock winder upgrades including head gear work; the winder is now rated to hoist 6,000tpd
- The new pumps and pipelines to allow future dewatering is progressing to plan at 5000 Level
- The man winder, BSVS and KMVS shaft works are progressing
- Mud removal and establishment of the 50-Level station
Tropicana
The
The Tropicana Renewable Project has commenced site works and is progressing on schedule. The new facility is expected to be an important part, together with other pending and future projects, of supporting AngloGold Ashanti’s strategy to achieve a
AngloGold Ashanti completed the feasibility study (“FS”) for the North Bullfrog Project (“NBP”) in October 2023. The Project has been approved to continue into the detailed engineering phase and anticipates reaching a final investment decision for North Bullfrog in 2024 with conditional approval subject to receipt of appropriate permits. The NBP is proposing an open-pit mining alternative utilising both gravity milling and heap leaching for ore processing. Permitting processes are underway for the NBP. The Plan of Operations and environmental baseline studies have been accepted as final by state and federal agencies and required Supplemental Environmental Reports have been prepared and reviewed. Federal and state permitting processes are expected to formally commence during the first quarter of 2024 and anticipate receiving the approval to construct in the first quarter of 2025.
The conceptual study (“CS”) for the Expanded Silicon Project continues to progress. This CS is expected to capture synergies from the increased economy of scale and integrated infrastructure, with potential for large scale mining. Completion of the CS and Mineral Resource declaration for the Expanded Silicon Project is anticipated during the fourth quarter of 2023.
Quebradona
Following the decision of Colombia’s national environmental agency (“ANLA”) in November 2021 to archive the Company’s environmental licence application related to the Quebradona Project, and the confirmation of such decision in April 2022, AngloGold Ashanti has been working to complete the data acquisition required at the tunnel alignment area. In addition, an optimised FS is currently underway to implement improvements in water management, operational flexibility, maintainability, and constructability. As previously reported, the new environmental licence application is expected to be filed with the ANLA in 2026.
Gramalote
On 18 September 2023, AngloGold Ashanti, agreed to sell its entire
CORPORATE UPDATE
Corporate restructuring
AngloGold Ashanti completed its corporate restructuring in September 2023, with a primary listing of its shares on the New York Stock Exchange (NYSE) and a corporate domicile in the
As disclosed in its initial announcement, the corporate restructuring attracted various tax payments in
In
-
Dividend Withholding Tax: R4.18bn or
$221m -
Securities Transfer Tax: R351m or
$19m
In
-
Estimated Landholder Duties:
A or$72m $46m
Córrego do Sítio care and maintenance
On 25 August 2023, the Company announced it placed the CdS mine in Brazil’s
Executive Committee Changes
On 25 August 2023, the Company announced the appointment of Mr. Richard Jordinson as Chief Operating Officer (“COO”) of the Company and a member of the Executive Committee with effect from 1 October 2023. From 1 October 2023, Mr. Marcelo Godoy resumed his role of Chief Technology Officer of the Company and Mr. Jason May stepped down from his role of interim Chief Technology Officer.
Appointment of Interim Group Company Secretary
The Company has appointed Ms. Helen Grantham as Interim Group Company Secretary of AngloGold Ashanti with effect from 25 September 2023. AngloGold Ashanti continues the process of searching for a new permanent Group Company Secretary and will advise shareholders of the appointment of a permanent Group Company Secretary in due course.
Reporting Update
AngloGold Ashanti qualifies as a foreign private issuer (“FPI”) in
Operations at a glance
for the quarters ended 30 September 2023, 30 June 2023 and 30 September 2022 |
||||||||||||||||||||||||
|
Gold production
|
Open-pit treated
|
Underground milled / treated
|
Other milled / treated
|
Open-pit Recovered
|
Underground Recovered
|
Other Recovered
|
Total Recovered
|
||||||||||||||||
Sep-23 |
Jun-23 |
Sep-22 |
Sep-23 |
Jun-23 |
Sep-22 |
Sep-23 |
Jun-23 |
Sep-22 |
Sep-23 |
Jun-23 |
Sep-22 |
Sep-23 |
Jun-23 |
Sep-22 |
Sep-23 |
Jun-23 |
Sep-22 |
Sep-23 |
Jun-23 |
Sep-22 |
Sep-23 |
Jun-23 |
Sep-22 |
|
|
99 |
88 |
83 |
512 |
537 |
506 |
446 |
413 |
392 |
— |
— |
— |
1.89 |
1.42 |
0.82 |
4.75 |
4.75 |
5.52 |
— |
— |
— |
3.22 |
2.87 |
2.87 |
Kibali - Attributable |
99 |
88 |
83 |
512 |
537 |
506 |
446 |
413 |
392 |
— |
— |
— |
1.89 |
1.42 |
0.82 |
4.75 |
4.75 |
5.52 |
— |
— |
— |
3.22 |
2.87 |
2.87 |
|
298 |
277 |
360 |
4,669 |
3,813 |
4,449 |
863 |
946 |
894 |
93 |
43 |
31 |
1.16 |
1.21 |
1.27 |
4.38 |
4.20 |
6.13 |
0.96 |
1.03 |
1.48 |
1.65 |
1.80 |
2.08 |
Iduapriem |
71 |
56 |
66 |
1,396 |
1,284 |
1,392 |
— |
— |
— |
— |
— |
— |
1.59 |
1.34 |
1.47 |
— |
— |
— |
— |
— |
— |
1.59 |
1.34 |
1.47 |
Obuasi |
46 |
57 |
72 |
— |
— |
— |
230 |
267 |
299 |
93 |
43 |
31 |
— |
— |
— |
5.85 |
6.49 |
7.29 |
0.96 |
1.03 |
1.48 |
4.43 |
5.74 |
6.74 |
Siguiri - Attributable |
55 |
45 |
66 |
2,474 |
1,830 |
2,159 |
— |
— |
— |
— |
— |
— |
0.69 |
0.77 |
0.95 |
— |
— |
— |
— |
— |
— |
0.69 |
0.77 |
0.95 |
Geita |
126 |
119 |
156 |
799 |
699 |
898 |
633 |
679 |
595 |
— |
— |
— |
1.84 |
2.09 |
1.72 |
3.85 |
3.30 |
5.55 |
— |
— |
— |
2.73 |
2.69 |
3.25 |
|
140 |
140 |
143 |
1,554 |
1,845 |
1,950 |
1,004 |
912 |
805 |
— |
— |
— |
1.22 |
1.08 |
1.29 |
2.43 |
2.57 |
2.42 |
— |
— |
— |
1.70 |
1.58 |
1.62 |
Sunrise Dam |
64 |
66 |
57 |
271 |
392 |
462 |
659 |
620 |
560 |
— |
— |
— |
1.54 |
1.27 |
1.23 |
2.36 |
2.48 |
2.18 |
— |
— |
— |
2.12 |
2.01 |
1.75 |
Tropicana - Attributable |
76 |
74 |
86 |
1,283 |
1,453 |
1,488 |
345 |
292 |
245 |
— |
— |
— |
1.16 |
1.03 |
1.30 |
2.56 |
2.77 |
2.97 |
— |
— |
— |
1.46 |
1.32 |
1.54 |
|
136 |
147 |
152 |
220 |
186 |
185 |
674 |
669 |
1,064 |
624 |
767 |
520 |
1.84 |
2.52 |
3.27 |
3.25 |
3.44 |
3.61 |
2.62 |
2.34 |
0.56 |
2.79 |
2.82 |
2.67 |
Cerro Vanguardia - |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Attributable |
35 |
37 |
44 |
179 |
184 |
165 |
101 |
104 |
116 |
349 |
383 |
440 |
1.98 |
2.53 |
3.54 |
5.67 |
5.02 |
4.90 |
0.45 |
0.42 |
0.46 |
1.72 |
1.71 |
1.88 |
AngloGold Ashanti Mineração |
77 |
88 |
86 |
— |
— |
— |
293 |
295 |
682 |
275 |
384 |
80 |
— |
— |
— |
3.17 |
3.73 |
3.81 |
5.37 |
4.25 |
1.08 |
4.24 |
4.03 |
3.52 |
Serra Grande |
24 |
22 |
22 |
41 |
2 |
20 |
280 |
270 |
266 |
— |
— |
— |
1.23 |
1.66 |
1.02 |
2.45 |
2.52 |
2.52 |
— |
— |
— |
2.30 |
2.52 |
2.42 |
AngloGold Ashanti Total |
673 |
652 |
738 |
6,955 |
6,381 |
7,090 |
2,987 |
2,940 |
3,155 |
717 |
810 |
552 |
1.25 |
1.23 |
1.29 |
3.53 |
3.60 |
4.26 |
2.40 |
2.27 |
0.61 |
1.96 |
2.00 |
2.13 |
Joint Ventures |
99 |
88 |
83 |
512 |
537 |
506 |
446 |
413 |
392 |
— |
— |
— |
1.89 |
1.42 |
0.82 |
4.75 |
4.75 |
5.52 |
— |
— |
— |
3.22 |
2.87 |
2.87 |
Subsidiaries |
574 |
564 |
655 |
6,443 |
5,844 |
6,584 |
2,541 |
2,527 |
2,763 |
717 |
810 |
552 |
1.20 |
1.21 |
1.33 |
3.31 |
3.41 |
4.08 |
2.40 |
2.27 |
0.61 |
1.84 |
1.91 |
2.06 |
Rounding of figures may result in computational discrepancies.
Operations at a glance
for the nine months ended 30 September 2023 and 30 September 2022 |
||||||||||||||||
|
Gold production
|
Open-pit treated
|
Underground milled / treated
|
Other milled / treated
|
Open-pit Recovered
|
Underground Recovered
|
Other Recovered
|
Total Recovered
|
||||||||
Sep-23 |
Sep-22 |
Sep-23 |
Sep-22 |
Sep-23 |
Sep-22 |
Sep-23 |
Sep-22 |
Sep-23 |
Sep-22 |
Sep-23 |
Sep-22 |
Sep-23 |
Sep-22 |
Sep-23 |
Sep-22 |
|
|
250 |
240 |
1,588 |
1,408 |
1,201 |
1,134 |
— |
— |
1.54 |
0.94 |
4.45 |
5.43 |
— |
— |
2.79 |
2.94 |
Kibali - Attributable |
250 |
240 |
1,588 |
1,408 |
1,201 |
1,134 |
— |
— |
1.54 |
0.94 |
4.45 |
5.43 |
— |
— |
2.79 |
2.94 |
|
860 |
914 |
12,619 |
13,339 |
2,592 |
2,438 |
174 |
125 |
1.20 |
1.16 |
4.41 |
5.23 |
1.00 |
1.37 |
1.74 |
1.79 |
Iduapriem |
189 |
181 |
3,914 |
3,994 |
— |
— |
— |
— |
1.51 |
1.41 |
— |
— |
— |
— |
1.51 |
1.41 |
Obuasi |
163 |
162 |
— |
— |
732 |
708 |
174 |
125 |
— |
— |
6.69 |
6.88 |
1.00 |
1.37 |
5.60 |
6.05 |
Siguiri - Attributable |
165 |
208 |
6,626 |
6,861 |
— |
— |
— |
— |
0.77 |
0.94 |
— |
— |
— |
— |
0.77 |
0.94 |
Geita |
343 |
363 |
2,079 |
2,484 |
1,860 |
1,730 |
— |
— |
1.98 |
1.37 |
3.51 |
4.55 |
— |
— |
2.70 |
2.68 |
|
405 |
397 |
5,114 |
5,643 |
2,807 |
2,402 |
— |
— |
1.07 |
1.15 |
2.53 |
2.45 |
— |
— |
1.59 |
1.54 |
Sunrise Dam |
190 |
174 |
1,012 |
1,312 |
1,882 |
1,678 |
— |
— |
1.34 |
1.24 |
2.43 |
2.26 |
— |
— |
2.05 |
1.81 |
Tropicana - Attributable |
215 |
223 |
4,102 |
4,331 |
925 |
724 |
— |
— |
1.01 |
1.12 |
2.74 |
2.89 |
— |
— |
1.33 |
1.37 |
|
394 |
420 |
618 |
706 |
1,951 |
3,004 |
1,967 |
1,356 |
2.14 |
2.15 |
3.34 |
3.60 |
2.24 |
0.51 |
2.70 |
2.57 |
Cerro Vanguardia - Attributable |
114 |
128 |
569 |
568 |
290 |
293 |
1,101 |
1,225 |
2.21 |
2.32 |
6.12 |
7.10 |
0.46 |
0.44 |
1.81 |
1.89 |
AngloGold Ashanti Mineração |
219 |
231 |
— |
— |
875 |
1,947 |
866 |
131 |
— |
— |
3.33 |
3.61 |
4.50 |
1.14 |
3.91 |
3.45 |
Serra Grande |
61 |
61 |
49 |
138 |
786 |
764 |
— |
— |
1.22 |
1.44 |
2.34 |
2.24 |
— |
— |
2.27 |
2.12 |
AngloGold Ashanti Total |
1,909 |
1,971 |
19,939 |
21,096 |
8,551 |
8,978 |
2,141 |
1,481 |
1.22 |
1.18 |
3.55 |
3.97 |
2.14 |
0.58 |
1.94 |
1.94 |
Joint Ventures |
250 |
240 |
1,588 |
1,408 |
1,201 |
1,134 |
— |
— |
1.54 |
0.94 |
4.45 |
5.43 |
— |
— |
2.79 |
2.94 |
Subsidiaries |
1,659 |
1,731 |
18,351 |
19,688 |
7,350 |
7,844 |
2,141 |
1,481 |
1.20 |
1.19 |
3.41 |
3.76 |
2.14 |
0.58 |
1.85 |
1.86 |
Rounding of figures may result in computational discrepancies.
Administration and corporate information
AngloGold Ashanti plc Incorporated in
Registration No. 14654651
LEI No. 2138005YDSA7A82RNU96
Share codes:
ISIN: GB00BRXH2664
CUSIP: G0378L100
NYSE: AU
JSE: ANG
A2X: ANG
GhSE (Shares): AGA
GhSE (GhDS): AAD
AngloGold Ashanti website
www.anglogoldashanti.com
AngloGold Ashanti posts information that may be important to investors on the main page of its website at ww.anglogoldashanti.com and under the “Investors” tab on the main page. This information is updated periodically. AngloGold Ashanti intends to use its website as a means of disclosing material non-public information to the public in a broad, non-exclusionary manner and for complying with its disclosure obligations. Accordingly, investors should visit this website regularly to obtain important information about AngloGold Ashanti, in addition to following its press releases, documents it files with, or furnishes to, the United States Securities and Exchange Commission (SEC) and public conference calls and webcasts. No material on the AngloGold Ashanti website forms any part of, or is incorporated by reference into, this document. References herein to the AngloGold Ashanti website shall not be deemed to cause such incorporation.
PUBLISHED BY ANGLOGOLD ASHANTI
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), 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 Limited’s annual report on Form 20-F for the year ended 31 December 2022 filed with the United States Securities and Exchange Commission (SEC) and AngloGold Ashanti’s registration statement on Form F-4 initially filed with the SEC on 23 June 2023. 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.
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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
Source: AngloGold Ashanti plc
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