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| Company type | Public company |
|---|---|
| JSE:ANG NYSE: AU | |
| ISIN | GB00BRXH2664  |
| Industry | Mining |
| Founded | 2004; 21 years ago (2004) (by merger with Henderson Group) |
| Headquarters | , South Africa |
Area served | Worldwide |
Key people | Maria Ramos (chairman of theboard) Christine Ramon (Interim CEO) |
| Products | Gold Silver Uranium oxide |
| Revenue |  US$4.400 billion(2020) |
| US$1.918 billion(2020) | |
| US$1.000 billion(2020) | |
| Total assets | US$9.532 billion(2020) |
| Total equity | US$4.989 billion(2020) |
Number of employees | 70,000 –June 2020 |
| Website | www |
AngloGold Ashanti Limited is aSouth Africangold mining company, with global operations. With a diverse portfolio of cooperation, projects, and exploration activities, AngloGold Ashanti was formed in 2004 by the merger ofAngloGold and theAshanti Goldfields Corporation.[1] Based on 2023 production, it was the world’s 7th largestgold miner 21 mining operations across four continents, listed on theNew York,Johannesburg,Accra,London, andAustralian stock exchanges, as well as theParis andBrussels bourses.[2][3] The company left theJSE in 2023.[citation needed]
AngloGold Ashanti has a history of gross human rights violations and causing grave environmental problems for which it won one of thePublic Eye Awards.[citation needed]
AngloGold Ashanti was formed on 26 April 2004, after theHigh Court of Ghana approved the merger ofAngloGold and theAshanti Goldfields Corporation three days earlier.[4] AngloGold had been a gold mining company based in South Africa, majority-owned by theAnglo American group. This came almost a year after the merger was announced on 16 May 2003. In the transaction, Ashanti shareholders received 0.29 ordinary shares of AngloGold for every Ashanti share.[5]
The new company sold its Union Reef Gold Mine in theNorthern Territory of Australia in August 2004, followed by the sale of the Freda-Rebecca Gold Mine inZimbabwe a month later.[5]
In late 2007,Mark Cutifani replacedBobby Godsell as CEO of AngloGold Ashanti, being appointed a director of the company on 17 September 2007 and as CEO on 1 October that year.[6]
In 2008, AngloGold produced 4.98 million ounces of gold from its operations, estimated to be seven percent of the global production. In 2009, the company's gold output dropped to 4.6 million ounces.[7]
As of early 2008, the company hadhedged 11.3 million ounces of gold, under previous CEO Bobby Godsell.[8]
In 2009, AngloGold Ashanti sold its 33% stake in theBoddington Gold Mine in Australia toNewmont Mining for US$1.0 billion[9] and the company's Tau Lekoa Gold Mine in South Africa was sold toBuffelsfontein Gold Mines Limited with ownership being transferred on 1 August 2010.[10]
In May 2010, Russell Edey, chairman of AngloGold since 2002 and, after the merger also of AngloGold Ashanti, was replaced byTito Mboweni.[11]
In October 2010, the company announced the elimination of the last of its hedge book. Under its new CEO, it gradually reduced the hedge to 3.22 million ounces of gold. In October 2010, this remaining amount was paid off with US$2.63 billion, or US$1,300 USD per ounce of gold.[8]
In 2011, AngloGold Ashanti moved into Eritrea to explore theArabian-Nubian Shield for gold through a 50/50 joint venture set up in 2009 with Thani Dubai Mining.[12]
As of the third quarter of 2014, Anglogold was the world's third-largest producer of gold, behindBarrick Gold andNewmont Mining.[13]
As of 2019, the company was claimed to be the 'most sophisticated and technologically advanced' mining operations with strict adherence to safety regulations.[14]
In 2020, it sold its last South African mining assets toHarmony Gold for aboutR4.4 billion. It no longer has any operations left in South Africa but remains listed on the JSE.[15]
On 1 September 2020, Chief Financial OfficerChristine Ramon became interim CEO following the resignation ofKelvin Dushnisky.[16] There has been speculation that Dushnisky stepped down after shareholders questioned a bonus payment he received from his prior employerBarrick Gold while also taking a signing bonus from AngloGold Ashanti when he was appointed CEO in 2018.[17]
Alberto Calderon was appointed Chief Executive Officer and Executive Director of AngloGold Ashanti on 1 September 2021[18][19]
As of May 2023, AngloGold Ashanti was the world’s fourth-largest gold miner with assets in Ghana, Australia, the US, and Argentina.[20]
In January 2025 a Ghanaian small-scale miners' association reported that soldierskilled nine unarmed people at an AngloGold Ashanti mine in Obuasi. Kofi Adams, chairman of the Ghana National Association of Small Scale Miners, stated that 14 others were severely injured and emphasized that the victims were not armed. However, the Ghanaian army claimed that seven illegal miners were killed in a firefight, alleging that about 60 miners armed with locally manufactured rifles breached the mine's security fence and fired at a military patrol, prompting the shootout.[21]
AngloGold Ashanti is a signatory participant of theVoluntary Principles on Security and Human Rights.[citation needed]
In August 2008 British charityWar on Want published a report accusingAnglo American (who at the time owned 17% of AngloGold Ashanti) of profiting from the abuse of people in thedeveloping countries in which the company operates.[22] The company disclosed itself in 2006 or in 2008 for unacceptable safety performance in its platinum mines. Safety measures were taken.[23] Additionally, in 2005 the staff of the AGA exploration team in Ituri made a US$8,000 payment to the FNI, which had been accused of committing various humans rights abuses.[24]
In January 2011, AngloGold Ashanti was awarded thePublic Eye Global Award at thePublic Eye Awards hosted withGreenpeace in Davos, Switzerland by theErklärung von Bern, known in English as the Berne Convention.[25] The award has been interpreted as being for the "most irresponsible company".[26] The nominating organisation, WACAM (Wassa Association of Communities Affected by Mining), said the company had a history of "gross human rights violations and environmental problems."[citation needed]
Colombia's Truth Commission found AngloGold Ashanti responsible for financingparamilitary groups that murdered peasants and community leaders. The same company has been accused of destroying water sources and forcibly displacing thousands of people in theCauca region.[27]
 | This section needs to beupdated. Please help update this article to reflect recent events or newly available information.(February 2022) |
Financial figures for the company:[7][5]
| 2004 | 2005 | 2006 | 2007 | 2008[7] | 2009[7] | 2010[28] | 2011[29] | 2012[30] | |
| Revenue (US$ million) | 3,113 | 3,743 | 3,961 | ||||||
| Gold income (US$ million) | 2,393 | 2,646 | 3,002 | 3,619 | 3,768 | 5,334 | 6,570 | 6,353 | |
| Gross loss/profit (US$ million) | 109 | 277 | −248 | 594 | −578 | 1,082 | 2,623 | 2,256 | |
| Dividends per share (US$ cents) | 56 | 36 | 62 | 19 | 11 | 17 | 20 | 49 | 36 |
| Total cash cost (US$/ounce) | 264 | 281 | 308 | 357 | 444 | 514 | 638 | 728 | 862 |
| Total production cost (US$/ounce) | 332 | 374 | 414 | 476 | 567 | 646 | 816 | 950 | 1,078 |
| Employees | 65,400 | 63,993 | 61,453 | 61,522 | 62,895 | 63,364 | 62,046 | 61,242 | 65,822 |
| This section needs to beupdated. Please help update this article to reflect recent events or newly available information.(May 2023) |
Gold production figures for the company's mines since 2004 in ounces per annum were
| Mine | Country | 2004[5] | 2005[5] | 2006[31] | 2007[7] | 2008[7] | 2009[7] | 2010[28] | 2011[29] | 2012[30] |
| Bibiani1 | Ghana | 105,000 | 115,000 | 37,000 | --- | --- | --- | --- | ||
| Brasil Mineração | Brazil | 240,000 | 250,000 | 242,000 | 317,000 | 320,000 | 329,000 | |||
| Cerro Vanguardia(92.5%) | Argentina | 211,000 | 211,000 | 215,000 | 204,000 | 154,000 | 192,000 | |||
| Freda-Rebecca3 | Zimbabwe | 9,000 | --- | --- | --- | --- | --- | --- | ||
| Geita | Tanzania | 570,000 | 613,000 | 308,000 | 327,000 | 264,000 | 272,000 | |||
| Great Noligwa | South Africa | 795,000 | 693,000 | 615,000 | 483,000 | 330,000 | 158,000 | |||
| Iduapriem | Ghana | 125,000 | 174,000 | 167,000 | 167,000 | 200,000 | 190,000 | |||
| Kopanang | South Africa | 486,000 | 482,000 | 446,000 | 418,000 | 362,000 | 336,000 | |||
| Moab Khotsong2 | South Africa | --- | --- | 44,000 | 67,000 | 192,000 | 247,000 | |||
| Morila(40%) | Mali | 204,000 | 262,000 | 207,000 | 180,000 | 170,000 | 137,000 | |||
| Mponeng | South Africa | 438,000 | 512,000 | 596,000 | 587,000 | 600,000 | 520,000 | |||
| Navachab | Namibia | 67,000 | 81,000 | 86,000 | 80,000 | 68,000 | 65,000 | |||
| Obuasi | Ghana | 255,000 | 391,000 | 387,000 | 360,000 | 357,000 | 381,000 | |||
| Sadiola(41%) | Mali | 174,000 | 168,000 | 190,000 | 140,000 | 172,000 | 135,000 | |||
| Savuka | South Africa | 158,000 | 126,000 | 89,000 | 73,000 | 66,000 | 30,000 | |||
| Serra Grande(50%) | Brazil | 94,000 | 96,000 | 97,000 | 91,000 | 87,000 | 77,000 | |||
| Siguiri(85%) | Guinea | 83,000 | 246,000 | 256,000 | 280,000 | 333,000 | 316,000 | |||
| Sunrise Dam | Australia | 410,000 | 455,000 | 465,000 | 600,000 | 433,000 | 401,000 | |||
| Tau Lekoa4 | South Africa | 293,000 | 265,000 | 176,000 | 165,000 | 143,000 | 124,000 | |||
| TauTona | South Africa | 568,000 | 502,000 | 474,000 | 409,000 | 314,000 | 218,000 | |||
| Surface Operations | South Africa | 119,000 | 95,000 | 113,000 | 125,000 | 92,000 | 164,000 | |||
| Yatela(40%) | Mali | 97,000 | 98,000 | 141,000 | 120,000 | 66,000 | 89,000 | |||
| Overall[32] | World | 5,816,000 | 6,166,000 | 5,635,000 | 5,480,000 | 4,982,000 | 4,599,000 |
Fatalities in the South African gold mining industry, especially the underground mines, are common. As of 2009, 100 to 120 were reported every year. This did represent an improvement since 2007: AngloGold Ashanti has reduced the number of fatalities in its operations by 70%. One of the main reasons for this development was a program led by CEOMark Cutifani aimed at reducing the company's number of fatalities to zero by 2015.[33] Of the 16 fatalities experienced by the company in 2009, 13 were in South Africa (2007: 27 of 34, 2008: 11 of 14).[7] Statistics company fatalities since 2004 founding:
| Year | Number | Change |
| 2004[5] | 31 | new company |
| 2005[5] | 25 | 6% |
| 2006[31] | 37 | 48% |
| 2007[34] | 34 | 8% |
| 2008[7] | 14 | 57% |
| 2009[7] | 16 | 14% |
| 2010[28] | 15 | 16% |
| 2011[29] | 15 | |
| 2012[30] | 18 | 14% |
Major mining companies | |
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Methodology: Companies with annual revenues over US$25 billion | |
Companies based inGreater Johannesburg | |||
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