AngloGold Ashanti Limited
(Incorporated in the Republic of South Africa)
Reg. No. 1944/017354/06
ISIN. ZAE000043485 – JSE share code: ANG
CUSIP: 035128206 – NYSE share code: AU
JSE Bond Company Code - BIANG
(“AngloGold Ashanti” or the “Company”)
8 May 2018
NEWS RELEASE
AngloGold Posts Strong Q1 Cost, Production Performance; Net Debt Falls
(JOHANNESBURG – PRESS RELEASE) – AngloGold Ashanti posted a strong first-quarter
performance, with lower debt and improvements in both production and all-in sustaining costs,
driving wider margins and stronger cash flows. The Australian operations were the standout
performers.
Production of 824,000oz at all-in sustaining cost of $1,029/oz in the three months through 31
March, compared with 830,000oz at AISC of $1,060/oz in the first quarter of last year.
Production was little changed despite TauTona undergoing orderly closure and the sales of
Moab Khotsong and Kopanang concluding a month before the end of the quarter. Looking
only at retained operations (operations excluding closed and sold operations), production rose
6% to 773,000oz at an AISC of $1,002/oz, representing a margin of 25% to the gold price
received for the period.
“Our hard work in restructuring the business to focus on portfolio quality is starting to bear
fruit as our operations are demonstrating strong, consistent results,” Chief Executive Officer
Srinivasan Venkatakrishnan, said. “The core portfolio is performing well, the balance sheet
is solid, our projects are on schedule and we see good potential for further efficiencies in both
our International and South African Operations.”
AngloGold Ashanti has restructured its portfolio to focus on higher-margin, longer-life assets,
while investing in a series of brownfield projects with strong return profiles. The company has
focused on tight cost control and disciplined capital allocation across its portfolio, which now
has about 87% of production from its International Operations.
With roughly a quarter of the full year’s guided production delivered in the seasonally weak
first quarter, AngloGold Ashanti remains on track to meet its annual production, cost and
capital guidance.
Production at the International Operations increased 5% year-on-year to 666,000oz, with
AISC improving further to $950/oz from $963/oz in the first quarter of last year, as the
continued focus on operating efficiencies gains momentum. Standout performers include
Sunrise Dam in Australia which recorded a 54% increase in production, and Tropicana, Kibali,
Iduapriem and Serra Grande.