Profile: AngloGold Ashanti Ltd (AU)

AU on New York Consolidated

16.89USD
22 Aug 2014
Price Change (% chg)

$-0.14 (-0.82%)
Prev Close
$17.03
Open
$16.94
Day's High
$17.08
Day's Low
$16.79
Volume
1,669,597
Avg. Vol
1,973,541
52-wk High
$19.53
52-wk Low
$11.14

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AngloGold Ashanti Limited (AngloGold Ashanti), incorporated in 1944, is a gold mining company with a portfolio of assets and differing orebody types in key gold producing regions. The Company also produces silver, uranium oxide and sulfuric acid as by-products. AngloGold Ashanti has 20 operations in four regions consisting of open-pit and underground mines and surface metallurgical plants in 10 countries on four continents. As of December 31, 2011 the Company’s ore reserves totaled 75.6 million ounces. During the year ended December 31, 2011, it had a gold production of approximately 4.3 million ounces. AngloGold Ashanti’s main product is gold. The Company six deep-level mines and one surface operation in South Africa as well as a combination of surface and underground mining operations in the Americas, Australia and the African continent. In July 2014, the Company sold AngloGold Ashanti Namibia (Proprietary) Ltd, owned subsidiary which owns Navachab Gold Mine, to QKR Corporation Ltd.

South Africa

AngloGold Ashanti’s South African operations consist of six deep-level mines and one surface operation. They are the Vaal River operations, which include Great Noligwa, Kopanang, Moab Khotsong and the surface sources operations, and the West Wits operations, which include Mponeng, Savuka and TauTona. During 2011, together, these operations produced 1.62 million ounces of gold and 1.38 million pounds of uranium as a by-product. Great Noligwa adjoins Kopanang and Moab Khotsong and is located close to the town of Orkney near the Vaal River. The Vaal Reef, the primary reef, and the Crystalkop Reef, a secondary reef, are mined here. This mining operation consists of a twin-shaft system and operates over eight main levels at an average depth of 2,400 meters. Great Noligwa produced 94,000 ounces during the year ended December 31, 2011. The reefs mined at the Vaal River operations are the Vaal Reef, the VCR and the C Reef. The Vaal Reef contains approximately 85% of the reserve tonnage. The VCR contains approximately 15% of the estimated reserves. The C Reef is a thin, small pebble conglomerate with a carbon-rich basal contact, located approximately 270 meters above the Vaal Reef. It contains 1% of the estimated reserves.

The Kopanang mine located in the Free State province roughly 170 kilometers southwest of Johannesburg and approximately 10 kilometers southeast of the town of Orkney on a lease area of 35 square kilometers. The operation is west of neighbour Great Noligwa and bound to the south by the Jersey Fault. Gold is the primary output with uranium oxide as a by-product from a single shaft system to a depth of 2,600 meters. Kopanang almost exclusively exploits the Vaal Reef, although minor amounts of gold are also extracted from the secondary Crystalkop Reef. Kopanang produced 307,000 ounces, during 2011. The Moab Khotsong is situated near Orkney, Klerksdorp and Viljoenskroon, about 180 kilometers southwest of Johannesburg. Moab Khotsong produced 266,000 during 2011.

The Mponeng, Savuka and TauTona mines are situated on the West Wits Line, near the town of Carletonville, straddling the border of Gauteng and North West Province. Mponeng has its own gold processing plant, while the Savuka and TauTona operations share a plant. Mponeng is located between the towns of Carletonville and Fochville on the border between Gauteng and the North West Province, southwest of Johannesburg. The operation mines the Ventersdorp Contact Reef (VCR) at depths between 2,400 meters and 3,900 meters. Savuka is situated on the West Wits line in the province of Gauteng, approximately 70 kilometers southwest of Johannesburg. The Carbon Leader Reef (CLR) is mined at depths varying between 3,137 meters and 3,457 meters below surface and the Ventersdorp Contact Reef (VCR) at a depth of 1,808 meters below surface. TauTona lies on the West Wits Line, just south of Carletonville in Gauteng and about 70 kilometers southwest of Johannesburg. Mining at TauTona takes place at depths of 1,850 meters to 3,450 meters. The mine has a three-shaft system, supported by secondary and tertiary shafts and is in the process of converting from longwall mining to scattered-grid mining.

Continental Africa

AngloGold Ashanti has eight mining operations in its Continental Africa region include Iduapriem and Obuasi in Ghana, Siguiri in Guinea, Morila, Sadiola and Yatela in Mali, Navachab in Namibia, and Geita in Tanzania. The Company also conducts an active greenfield exploration program, principally in the Democratic of the Republic of the Congo (DRC), focused on the Mongbwalu concession and the Kibali joint venture with Randgold Resources and the DRC government. Iduapriem, wholly owned by AngloGold Ashanti consist of Iduapriem and Teberebie properties on a 110 square kilometers concession. The mine is situated in the western region of Ghana, some 70 kilometers north of the coastal city of Takoradi and 10 kilometers southwest of Tarkwa. Iduapriem is an open-pit mine and its processing facilities include a Carbon-in-pulp (CIP) plant. The Iduapriem and Teberebie gold mines are located along the southern end of the Tarkwa basin.

Obuasi is located in the Ashanti Region of southern Ghana, approximately 60 kilometers south of Kumasi. It is primarily an underground mine operating at depths of up to 1.5 kilometers, though some surface mining in the form of open pit and tailings reclamation occurs. Obuasi treats sulfide ores from underground at the south plant. The south plant also treats sulfide tailings and has a capacity of 360,000 tons per month.

Siguiri is a multiple open-pit, oxide gold mine situated in the Siguiri district in northeast of the Republic of Guinea, about 850 kilometers northeast of the capital, Conakry. Siguiri’s open pits are operated by mining contractors using conventional techniques. Siguiri’s gold processing plant treats about 30,000 tons daily.

AngloGold Ashanti has interests in three gold mining operations in Mali, namely, Sadiola, Yatela and Morila. It manages two of these operations, Sadiola and Yatela. The Morila mine is situated some 180 kilometers southeast of Bamako, the capital of Mali. The operation treats low- grade stockpiles. AngloGold Ashanti has an 40% stake in Morila and Randgold Resources Limited holds another 40%. The government of Mali owns the remaining 20%. Randgold Resources manages the mine. Sadiola is situated in the far southwest of Mali, 77 kilometers south of the regional capital, Kayes. Sadiola is a joint venture, in which the Company and IAMGOLD each have a 41% interest and the government of Mali 18%. Mining at Sadiola takes place in five open pits.

The Yatela mine is situated some 25 kilometers north of Sadiola and approximately 50 kilometers south-southwest of Kayes. Ore extraction is conducted from a number of pits including the Yatela main pit, Alamoutala, four Alamoutala satellite pits, KW18 and the North-west Extension. Yatela is 80% owned by the Sadiola Exploration Company Limited, a joint venture, in which AngloGold Ashanti and IAMGOLD giving it an interest of 40% in Yatela. The government of Mali owns the remaining 20% interest in the mine. The Navachab gold mine is situated near the town of Karibib, some 170 kilometers northwest of the capital Windhoek and 171 kilometers inland on the southwest coast of Africa. The mine is an open-pit mine with a processing plant, which includes a mill, as well as CIP and electro-winning facilities, all with a monthly capacity of 120,000 tons. AngloGold Ashanti has one gold mining operation in Tanzania, the Geita gold mine. The Geita gold mine is located in the Lake Victoria goldfields of the Mwanza region of Tanzania, about 120 kilometers from Mwanza and four kilometers west of the town of Geita. The mine is wholly owned and managed by the Company.

Australasia

AngloGold Ashanti’s sole operating mine in Australasia is Sunrise Dam. The Sunrise Dam gold mine is located in the northern goldfields of Western Australia, 220 kilometers northeast of Kalgoorlie and 55 kilometers south of Laverton. The mine consists of a large open pit, which is in its fifteenth year of operation, and an underground mine. The Tropicana Gold Mine(TGP) is being developed by AngloGold Ashanti and joint venture partner, Independence Group Ltd.

United States

AngloGold Ashanti owns the Cripple Creek & Victor mine (CC&V)Gold Mining Company’s Cresson Project, located in the state of Colorado in the United States. A surface mining operation provides ore to a crusher and valley-leach facility. Production at CC&V was 267,000 ounces during 2011.

South America

AngloGold Ashanti has a 92.5% interest in Cerro Vanguardia with Fomicruz (the province of Santa Cruz), owns the remaining 7.5%. Located to the northwest of Puerto San Julian in the province of Santa Cruz, Cerro Vanguardia consists of multiple small open pits. The orebodies consists of a series of hydrothermal vein deposits containing gold and large quantities of silver, which is mined as a by-product. AngloGold Ashanti Corrego do Sitio Mineracao (AGA Mineracao) consist of two operational units, namely the Cuiaba and the Corrego do Sitio complexes. The Cuiaba complex includes the Cuiaba and Lamego mines and the Cuiaba and Queiroz plants. Cuiaba and Lamego mines is in the gold plant at the Cuiaba complex, The Corrego do Sitio operation comprises one surface (oxide) and two underground (sulfide) mines, Serra Grande is located in central Brazil, in the state of Goias, 5 kilometers from the city of Crixas. Serra Grande consists of three mechanised underground mines: Mina III, Mina Nova (which includes the Pequizao orebody) and Palmeiras including an open pit on the outcrop of Mina III orebody.

Americas Colombia

The Gramalote project is a joint venture between AngloGold Ashanti Limited and B2Gold and is located 110 kilometers northeast of Medellin in the municipality of San Roque. The project, managed by AngloGold Ashanti. The exploration rights at the La Colosa project are wholly held by AngloGold Ashanti. This gold project is located 14 kilometers from the town of Cajamarca, in the department of Tolima, The Kibali gold project is a joint venture between AngloGold Ashanti and Randgold Resources, with each owning a 45 % stake and Societe des Mines d’Or de Kilo-Moto (SOKIMO). The Mongbwalu gold project in the northeastern DRC is a venture between AngloGold Ashanti, which owns an 86.22 percent interest and Societe des Mines d’Or de Kilo-Moto (SOKIMO).

Company Address

AngloGold Ashanti Ltd

76 Jeppe Street, Newtown
JOHANNESBURG     2001
P: +2711.6376000
F: +2711.6376624

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