{"id":44,"date":"2023-01-05T10:00:15","date_gmt":"2023-01-05T10:00:15","guid":{"rendered":"https:\/\/reports.anglogoldashanti.com\/22\/?page_id=44"},"modified":"2023-03-18T17:57:25","modified_gmt":"2023-03-18T17:57:25","slug":"business-model","status":"publish","type":"page","link":"https:\/\/reports.anglogoldashanti.com\/22\/ir\/introducing-aga\/business-model\/","title":{"rendered":"Our business model"},"content":{"rendered":"\n<div class=\"wp-block-group alignfull is-style-mega-page-header has-horizontal-orange-to-naartjie-gradient-background has-background is-layout-constrained wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group alignwide is-style-default is-justify-content-stretch is-content-justification-space-between is-layout-flex wp-container-core-group-is-layout-9366075c wp-block-group-is-layout-flex\">\n<div class=\"wp-block-group has-background-color has-text-color is-layout-constrained wp-block-group-is-layout-constrained\"><div class=\"yoast-breadcrumbs\"><span><span><a href=\"https:\/\/reports.anglogoldashanti.com\/22\/\">Home<\/a><\/span> \u00bb <span><a href=\"https:\/\/reports.anglogoldashanti.com\/22\/ir\/\">Integrated Report<\/a><\/span> \u00bb <span><a href=\"https:\/\/reports.anglogoldashanti.com\/22\/ir\/introducing-aga\/\">Introducing AngloGold Ashanti<\/a><\/span> \u00bb <span class=\"breadcrumb_last\" aria-current=\"page\">Our business model<\/span><\/span><\/div>\n\n<h1 class=\"wp-block-post-title\">Our business model<\/h1>\n\n\n<p class=\"has-text-align-left has-large-font-size\">Delivery on our strategy involves optimising and balancing the use of scarce capital resource inputs to enhance positive\noutcomes and impacts (value created and preserved), and to minimise the negative (value eroded). This also entails ensuring\nthat the required capital resources are available for future, sustained value creation.<\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-group is-style-bubble-block has-background has-foreground-color has-background-background-color has-text-color is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-group is-justify-content-stretch is-alignment-center is-vertical is-content-justification-center is-layout-flex wp-container-core-group-is-layout-81423f52 wp-block-group-is-layout-flex\">\n<h5 class=\"has-text-align-center has-primary-background-color has-background has-medium-font-size wp-block-heading\" style=\"padding-top:var(--wp--preset--spacing--20);padding-right:var(--wp--preset--spacing--20);padding-bottom:var(--wp--preset--spacing--20);padding-left:var(--wp--preset--spacing--20)\">Our business activities<\/h5>\n\n\n\n<figure class=\"wp-block-image size-large style-svg\"><img loading=\"lazy\" decoding=\"async\" width=\"395\" height=\"290\" src=\"https:\/\/reports.anglogoldashanti.com\/22\/wp-content\/uploads\/2023\/03\/icon-4-in-1-business-model.svg\" alt=\"\" class=\"wp-image-4686\"\/><\/figure>\n\n\n\n<p><strong><em><a href=\"https:\/\/reports.anglogoldashanti.com\/22\/ir\/introducing-aga\/how-we-create-value\/\">See How we create value<\/a><\/em><\/strong><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n\n\n\n<section class=\"wp-block-group alignwide is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-group is-justify-content-stretch is-layout-flex wp-container-core-group-is-layout-0e78bd1e wp-block-group-is-layout-flex\">\n<div class=\"wp-block-group is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-group rule-through has-background-background-color has-background is-nowrap is-layout-flex wp-container-core-group-is-layout-6c531013 wp-block-group-is-layout-flex\">\n<h2 class=\"arrow-next has-background-color has-primary-background-color has-text-color has-background wp-block-heading\" style=\"padding-top:var(--wp--preset--spacing--20);padding-right:var(--wp--preset--spacing--20);padding-bottom:var(--wp--preset--spacing--20);padding-left:var(--wp--preset--spacing--20)\">Our capital inputs and related actions \u2013 2022<\/h2>\n<\/div>\n\n\n\n<div class=\"wp-block-group is-justify-content-stretch is-nowrap is-layout-flex wp-container-core-group-is-layout-f66f9956 wp-block-group-is-layout-flex\">\n<div class=\"wp-block-group is-alignment-stretch is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<div class=\"wp-block-group has-border-color has-light-silver-gray-border-color has-background-background-color has-background is-layout-constrained wp-block-group-is-layout-constrained\" style=\"border-width:5px\">\n<h5 class=\"has-background-color has-dark-green-background-color has-text-color has-background wp-block-heading\" style=\"padding-top:var(--wp--preset--spacing--20);padding-right:var(--wp--preset--spacing--20);padding-bottom:var(--wp--preset--spacing--20);padding-left:var(--wp--preset--spacing--20)\">Natural capital<\/h5>\n\n\n\n<h6 class=\"wp-block-heading\">Began year with:<\/h6>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Mineral Resource of 123.2Moz, including a Mineral Reserve of 29.8Moz<\/li>\n\n\n\n<li>639,709ha of land under management<\/li>\n\n\n\n<li>Active greenfields and brownfields exploration programmes to identify potentially viable orebodies<\/li>\n\n\n\n<li>Ongoing brownfields and greenfields development projects to develop and maximise the potential of our Mineral Resource and Mineral Reserve<\/li>\n<\/ul>\n\n\n\n<h6 class=\"wp-block-heading\">During the year:<\/h6>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Treated\/milled 42.9Mt of ore<\/li>\n\n\n\n<li>Consumed 22.74PJ of energy<\/li>\n\n\n\n<li>Withdrew 34.72GL of water<\/li>\n\n\n\n<li>Spent $205m on brownfields and greenfields exploration<\/li>\n\n\n\n<li>Completed conversion of Brazil tailings storage facilities (TSFs) to dry stacking \u2013 total cost of $244m over three years<\/li>\n\n\n\n<li>Achieved progress on our Climate Change Strategy to address energy consumption and greenhouse gas (GHG) emissions; published new GHG emissions targets to reduce absolute Scope 1 and Scope 2 GHG emissions by 30% by 2030 (as compared to 2021), in addition to our prior commitment to achieve net zero GHG emissions by 2050 and, in partnership with our value chain partners, to set Scope 3 GHG reduction targets<\/li>\n<\/ul>\n<\/div>\n\n\n\n<div class=\"wp-block-group has-border-color has-light-silver-gray-border-color has-background-background-color has-background is-layout-constrained wp-block-group-is-layout-constrained\" style=\"border-width:5px\">\n<h5 class=\"has-background-color has-lilac-background-color has-text-color has-background wp-block-heading\" style=\"padding-top:var(--wp--preset--spacing--20);padding-right:var(--wp--preset--spacing--20);padding-bottom:var(--wp--preset--spacing--20);padding-left:var(--wp--preset--spacing--20)\">Intellectual capital<\/h5>\n\n\n\n<h6 class=\"wp-block-heading\">Began year with:<\/h6>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Integrated, focused strategy supported by sound management systems and robust corporate governance and risk management frameworks<\/li>\n\n\n\n<li>A values-driven culture guided by our values and <strong><em><a href=\"https:\/\/www.anglogoldashanti.com\/wp-content\/uploads\/2021\/05\/COE_A4ENGLISH.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">Our Code<\/a><\/em><\/strong><\/li>\n\n\n\n<li>Necessary policies in place to foster responsible environmental stewardship, consumption and corporate citizenship<\/li>\n\n\n\n<li>Solid brand and reputation<\/li>\n<\/ul>\n\n\n\n<h6 class=\"wp-block-heading\">During the year:<\/h6>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Implemented Project Thrive to restructure and streamline our organisation to bring about significant efficiency improvements and promote long-term success; conducted hand-in-hand with roll-out of new Operating Model<\/li>\n\n\n\n<li>Conducted a company-wide culture survey as first step in initiative to refresh organisational culture and values<\/li>\n\n\n\n<li>Progressed digital transformation roadmap \u2013 defined various initiatives to be implemented and advanced to feasibility stage<\/li>\n<\/ul>\n<\/div>\n\n\n\n<div class=\"wp-block-group has-border-color has-light-silver-gray-border-color has-background-background-color has-background is-layout-constrained wp-block-group-is-layout-constrained\" style=\"border-width:5px\">\n<h5 class=\"has-background-color has-yellow-background-color has-text-color has-background wp-block-heading\" style=\"padding-top:var(--wp--preset--spacing--20);padding-right:var(--wp--preset--spacing--20);padding-bottom:var(--wp--preset--spacing--20);padding-left:var(--wp--preset--spacing--20)\">Human capital<\/h5>\n\n\n\n<h6 class=\"wp-block-heading\">Began year with:<\/h6>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Safety policy and functional support dedicated to furthering our goal of zero harm and eliminating fatalities at the mines operated by the Company<\/li>\n\n\n\n<li>Experienced, diverse leadership team and Board<\/li>\n\n\n\n<li>Policy promoting equality, diversity and inclusivity<\/li>\n\n\n\n<li>Employee localisation a priority<\/li>\n\n\n\n<li>Motivational reward structures linked to performance and strategic delivery<\/li>\n<\/ul>\n\n\n\n<h6 class=\"wp-block-heading\">During the year:<\/h6>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Employed an average of 32,594 people, including 18,599 contractors (2021: 30,561 and 16,384 respectively)<\/li>\n\n\n\n<li>Revitalised safety strategy and introduced a three-year work plan focused on leadership and people, processes, technology, innovation and risk management<\/li>\n\n\n\n<li>Implementation of new Operating Model and organisational restructuring<\/li>\n\n\n\n<li>Spent $8.94m on critical skills training and development<\/li>\n<\/ul>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-group is-alignment-stretch is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<div class=\"wp-block-group has-border-color has-light-silver-gray-border-color has-background-background-color has-background is-layout-constrained wp-block-group-is-layout-constrained\" style=\"border-width:5px\">\n<h5 class=\"has-background-color has-silver-gray-background-color has-text-color has-background wp-block-heading\" style=\"padding-top:var(--wp--preset--spacing--20);padding-right:var(--wp--preset--spacing--20);padding-bottom:var(--wp--preset--spacing--20);padding-left:var(--wp--preset--spacing--20)\">Financial capital<\/h5>\n\n\n\n<p>Access to cost-efficient capital funds to sustain our business and ensure future growth. Investment in the business aims to enhance performance and efficiency, to improve margins and sustainably extend operating lives. Main sources are operating cash flow, borrowings (bond and credit facilities), and equity.<\/p>\n\n\n\n<h6 class=\"wp-block-heading\">Began year with:<\/h6>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Total equity of $4.09bn<\/li>\n\n\n\n<li>Cash and cash equivalents of $1.1bn<\/li>\n\n\n\n<li>Adjusted net debt of $765m<\/li>\n\n\n\n<li>Undrawn credit facilities of $1.45bn<\/li>\n\n\n\n<li>Market capitalisation of $8.8bn<\/li>\n<\/ul>\n\n\n\n<h6 class=\"wp-block-heading\">During the year:<\/h6>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Generated $1.804bn in operating cash flow (2021: $1.268bn). The 42% increase was mainly due to higher gold sold, lower cash taxes and higher dividends received from joint ventures, partly offset by higher cash costs, working capital outflows, and the marginal lower gold price received. See <strong><em><a href=\"https:\/\/reports.anglogoldashanti.com\/22\/ir\/value-created-preserved-eroded\/cfos-review-outlook\/\">CFO\u2019s report and outlook<\/a><\/em><\/strong><\/li>\n\n\n\n<li>Replaced $1.4bn five-year unsecured multi-currency revolving credit facility with a new five-year unsecured $1.4bn multi-currency revolving credit facility<\/li>\n\n\n\n<li>Incurred capital expenditure (including equity-accounted joint ventures) of $1.1bn<\/li>\n<\/ul>\n<\/div>\n\n\n\n<div class=\"wp-block-group has-border-color has-light-silver-gray-border-color has-background-background-color has-background is-layout-constrained wp-block-group-is-layout-constrained\" style=\"border-width:5px\">\n<h5 class=\"has-background-color has-naartjie-background-color has-text-color has-background wp-block-heading\" style=\"padding-top:var(--wp--preset--spacing--20);padding-right:var(--wp--preset--spacing--20);padding-bottom:var(--wp--preset--spacing--20);padding-left:var(--wp--preset--spacing--20)\">Social and relationship capital<\/h5>\n\n\n\n<h6 class=\"wp-block-heading\">Began year with:<\/h6>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Dedicated community engagement structures to foster strong relationships based on trust<\/li>\n\n\n\n<li>Reliable, representative supplier database, aligned with our Supplier Code of Conduct, prioritising local suppliers where possible<\/li>\n\n\n\n<li>Community grievance mechanisms in place across all operations<\/li>\n\n\n\n<li>Commitment to share value and socio-economic benefits of our mining activities<\/li>\n<\/ul>\n\n\n\n<h6 class=\"wp-block-heading\">During the year:<\/h6>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Provided regular and informative disclosures to stakeholders<\/li>\n\n\n\n<li>Maintained constructive relationships with government and regulators<\/li>\n\n\n\n<li>Invested $18m<sup>(1)<\/sup> in community projects to promote resilient socio-economic development<\/li>\n<\/ul>\n\n\n\n<p class=\"has-small-font-size\"><em><sup>(1) <\/sup>Includes joint ventures<\/em><\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-group has-border-color has-light-silver-gray-border-color has-background-background-color has-background is-layout-constrained wp-block-group-is-layout-constrained\" style=\"border-width:5px\">\n<h5 class=\"has-background-color has-teal-background-color has-text-color has-background wp-block-heading\" style=\"padding-top:var(--wp--preset--spacing--20);padding-right:var(--wp--preset--spacing--20);padding-bottom:var(--wp--preset--spacing--20);padding-left:var(--wp--preset--spacing--20)\">Manufactured capital<\/h5>\n\n\n\n<h6 class=\"wp-block-heading\">Began year with:<\/h6>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Ten mining operations, including related infrastructure, gold processing plants and equipment<\/li>\n\n\n\n<li>Growth projects:\n<ul class=\"wp-block-list\">\n<li>Brownfields &#8211; across all operations including development phases at Obuasi<\/li>\n\n\n\n<li>Greenfield &#8211; Beatty District (Nevada) and Quebradona (Antioquia, Colombia)<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>Tangible, right of use and intangible assets with a book value of $3.79bn<\/li>\n<\/ul>\n\n\n\n<h6 class=\"wp-block-heading\">During the year:<\/h6>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Incurred total cash costs of $2.75bn<\/li>\n\n\n\n<li>Spent $779m on sustaining operations and enhancing performance (sustaining capital)<\/li>\n\n\n\n<li>Continued implementation of new Operating Model to empower operations, ensure accountability, define necessary work and enable safe and consistent delivery to plan<\/li>\n\n\n\n<li>Progressed growth projects<\/li>\n<\/ul>\n\n\n\n<p>For details on materials consumed \u2013 such as cyanide, diesel, explosives, acids and alkalis, among other items \u2013 in the course of our mining and processing activities, see <strong><em><a href=\"https:\/\/reports.anglogoldashanti.com\/22\/wp-content\/uploads\/2023\/03\/AGA-ESGD22.xls\">&lt;ESGD&gt;<\/a><\/em><\/strong> , a compilation of our ESG and sustainability data.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n\n\n\n<aside class=\"wp-block-group is-alignment-center is-vertical is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-2f0bb72e wp-block-group-is-layout-flex\">\n<figure class=\"wp-block-image size-large has-text-align-center\"><img loading=\"lazy\" decoding=\"async\" width=\"65\" height=\"50\" src=\"https:\/\/reports.anglogoldashanti.com\/22\/wp-content\/uploads\/2023\/03\/icon-arrows-down.svg\" alt=\"\" class=\"wp-image-3595\"\/><\/figure>\n\n\n\n<div class=\"wp-block-group has-border-color has-naartjie-border-color has-background-background-color has-background is-layout-constrained wp-block-group-is-layout-constrained\" style=\"border-width:4px\">\n<h3 class=\"has-text-align-center has-background-color has-primary-background-color has-text-color has-background wp-block-heading\" style=\"padding-top:var(--wp--preset--spacing--20);padding-right:var(--wp--preset--spacing--20);padding-bottom:var(--wp--preset--spacing--20);padding-left:var(--wp--preset--spacing--20)\">OUTPUTS 2022<\/h3>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-wide\"\/>\n\n\n\n<h5 class=\"wp-block-heading\">Produced:<\/h5>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Gold:<\/strong> <strong>2.7Moz<\/strong> (2021: 2.5Moz)<\/li>\n\n\n\n<li><strong>Silver:<\/strong> <strong>3.6Moz<\/strong> (2021: 3.8Moz)<\/li>\n\n\n\n<li><strong>Sulphuric acid:<\/strong> <strong>159t<\/strong> (2021: 173t)<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-wide\"\/>\n\n\n\n<h5 class=\"wp-block-heading\">GENERATED:<\/h5>\n\n\n\n<h6 class=\"has-light-silver-gray-background-color has-background wp-block-heading\" style=\"padding-top:var(--wp--preset--spacing--20);padding-right:var(--wp--preset--spacing--20);padding-bottom:var(--wp--preset--spacing--20);padding-left:var(--wp--preset--spacing--20)\"><strong>Revenue from product sales<\/strong><\/h6>\n\n\n\n<p><strong>$4.5bn<\/strong> (2021: $4.0bn)<\/p>\n\n\n\n<h6 class=\"has-light-silver-gray-background-color has-background wp-block-heading\" style=\"padding-top:var(--wp--preset--spacing--20);padding-right:var(--wp--preset--spacing--20);padding-bottom:var(--wp--preset--spacing--20);padding-left:var(--wp--preset--spacing--20)\"><strong>Mining waste<\/strong><\/h6>\n\n\n\n<p><strong>Tailings deposited: 42.9Mt<\/strong> (2021: 44.1Mt)<\/p>\n\n\n\n<p><strong>Overburden and waste rock: 155.5Mt<\/strong> <br>(2021: 146.5Mt)<\/p>\n\n\n\n<h6 class=\"has-light-silver-gray-background-color has-background wp-block-heading\" style=\"padding-top:var(--wp--preset--spacing--20);padding-right:var(--wp--preset--spacing--20);padding-bottom:var(--wp--preset--spacing--20);padding-left:var(--wp--preset--spacing--20)\"><strong>Emissions<\/strong><\/h6>\n\n\n\n<p><strong>GHG emissions (CO<sub>2<\/sub>e): 1.475Mt<\/strong> (2021:1.380Mt)<\/p>\n\n\n\n<p><strong>Nitrous oxides (NOx): 2,653t<\/strong> (2021:4,968t)<\/p>\n\n\n\n<p><strong>Sulphur dioxide (SO<sub>2<\/sub>): 352t<\/strong> (2021:174t)<\/p>\n<\/div>\n<\/aside>\n<\/div>\n<\/section>\n\n\n\n<section class=\"wp-block-group alignwide is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-group is-justify-content-stretch is-layout-flex wp-container-core-group-is-layout-0e78bd1e wp-block-group-is-layout-flex\">\n<div class=\"wp-block-group is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-group is-alignment-stretch is-vertical is-content-justification-left is-layout-flex wp-container-core-group-is-layout-531c811a wp-block-group-is-layout-flex\" style=\"padding-left:0\">\n<div class=\"wp-block-group rule-through has-background-background-color has-background is-content-justification-left is-nowrap is-layout-flex wp-container-core-group-is-layout-93c76789 wp-block-group-is-layout-flex\" style=\"padding-top:0;padding-right:0;padding-bottom:0;padding-left:0\">\n<h2 class=\"arrow-before has-background-background-color has-background wp-block-heading\" style=\"margin-left:3rem;padding-top:var(--wp--preset--spacing--20);padding-right:var(--wp--preset--spacing--20);padding-bottom:var(--wp--preset--spacing--20);padding-left:1rem\">Outcomes and impacts \u2013 2022<\/h2>\n<\/div>\n\n\n\n<h4 class=\"has-primary-color has-text-color wp-block-heading\" style=\"margin-left:4rem\">At year end 31 December<\/h4>\n<\/div>\n\n\n\n<div class=\"wp-block-group is-justify-content-stretch is-nowrap is-layout-flex wp-container-core-group-is-layout-f66f9956 wp-block-group-is-layout-flex\">\n<div class=\"wp-block-group is-alignment-stretch is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<div class=\"wp-block-group has-border-color has-light-silver-gray-border-color has-background-background-color has-background is-layout-constrained wp-block-group-is-layout-constrained\" style=\"border-width:5px\">\n<h5 class=\"has-background-color has-dark-green-background-color has-text-color has-background wp-block-heading\" style=\"padding-top:var(--wp--preset--spacing--20);padding-right:var(--wp--preset--spacing--20);padding-bottom:var(--wp--preset--spacing--20);padding-left:var(--wp--preset--spacing--20)\">Natural capital<\/h5>\n\n\n\n<h6 class=\"wp-block-heading\">Natural capital:<\/h6>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Mineral Resource of 131.4Moz and Mineral Reserve of 30.4Moz post depletion at year end<\/li>\n\n\n\n<li>Acquired Corvus Gold (Corvus) and Coeur Sterling assets to increase our position in the Beatty district of Southern Nevada; these targeted acquisitions plus continued exploration success at Silicon helped increase our Mineral Resource in the district to 8.4Moz<\/li>\n\n\n\n<li>Three reportable environmental incidents (2021: five)<\/li>\n\n\n\n<li>Of 615.400ha of land under management, 554.6ha were newly disturbed and 223ha rehabilitated (2021: 639,709ha under management; 806ha newly disturbed and 177ha rehabilitated)<\/li>\n<\/ul>\n\n\n\n<h6 class=\"wp-block-heading\">Energy and GHG emissions<\/h6>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Achieved an energy use intensity of 0.50GJ\/t treated (2021: 0.50GJ\/t treated)<\/li>\n\n\n\n<li>Recorded a GHG emissions intensity of 31kg CO<sub>2<\/sub> e\/t treated, down 67% since 2007 (2021: 31kg CO<sub>2<\/sub> e\/t treated)<\/li>\n<\/ul>\n\n\n\n<h6 class=\"wp-block-heading\">Water<\/h6>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Achieved a water use intensity of 0.79kL\/t treated (2021: 0.75kL\/t treated)<\/li>\n\n\n\n<li>Re-used 67% of water withdrawn (2021: 67%) as per the ICMM Water Accounting Guideline (%)<\/li>\n<\/ul>\n\n\n\n<p class=\"has-light-gray-background-color has-background\" style=\"padding-top:var(--wp--preset--spacing--20);padding-right:var(--wp--preset--spacing--20);padding-bottom:var(--wp--preset--spacing--20);padding-left:var(--wp--preset--spacing--20)\"><strong>Stakeholders affected: <\/strong>Environment, communities, governments and regulators<\/p>\n\n\n\n<h6 class=\"wp-block-heading\">SDGs \u2013 Positive impact<\/h6>\n\n\n\n<figure class=\"wp-block-gallery has-nested-images columns-4 is-cropped wp-block-gallery-1 is-layout-flex wp-block-gallery-is-layout-flex\">\n<figure class=\"wp-block-image size-medium\"><img loading=\"lazy\" decoding=\"async\" width=\"120\" height=\"120\" data-id=\"1347\" src=\"https:\/\/reports.anglogoldashanti.com\/22\/wp-content\/uploads\/2023\/02\/icon-sdg12.svg\" alt=\"\" class=\"wp-image-1347\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-medium\"><img loading=\"lazy\" decoding=\"async\" width=\"120\" height=\"120\" data-id=\"1352\" src=\"https:\/\/reports.anglogoldashanti.com\/22\/wp-content\/uploads\/2023\/02\/icon-sdg17.svg\" alt=\"\" class=\"wp-image-1352\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-medium\"><img loading=\"lazy\" decoding=\"async\" width=\"80\" height=\"80\" data-id=\"2162\" src=\"https:\/\/reports.anglogoldashanti.com\/22\/wp-content\/uploads\/2023\/02\/spacer.svg\" alt=\"\" class=\"wp-image-2162\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-medium\"><img loading=\"lazy\" decoding=\"async\" width=\"80\" height=\"80\" data-id=\"2162\" src=\"https:\/\/reports.anglogoldashanti.com\/22\/wp-content\/uploads\/2023\/02\/spacer.svg\" alt=\"\" class=\"wp-image-2162\"\/><\/figure>\n<\/figure>\n\n\n\n<h6 class=\"wp-block-heading\">SDGs \u2013 Nagative impact<\/h6>\n\n\n\n<figure class=\"wp-block-gallery has-nested-images columns-4 is-cropped wp-block-gallery-2 is-layout-flex wp-block-gallery-is-layout-flex\">\n<figure class=\"wp-block-image size-medium\"><img loading=\"lazy\" decoding=\"async\" width=\"120\" height=\"120\" data-id=\"1358\" src=\"https:\/\/reports.anglogoldashanti.com\/22\/wp-content\/uploads\/2023\/02\/icon-sdg06.svg\" alt=\"\" class=\"wp-image-1358\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-medium\"><img loading=\"lazy\" decoding=\"async\" width=\"120\" height=\"120\" data-id=\"1348\" src=\"https:\/\/reports.anglogoldashanti.com\/22\/wp-content\/uploads\/2023\/02\/icon-sdg13.svg\" alt=\"\" class=\"wp-image-1348\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-medium\"><img loading=\"lazy\" decoding=\"async\" width=\"120\" height=\"120\" data-id=\"1350\" src=\"https:\/\/reports.anglogoldashanti.com\/22\/wp-content\/uploads\/2023\/02\/icon-sdg15.svg\" alt=\"\" class=\"wp-image-1350\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-medium\"><img loading=\"lazy\" decoding=\"async\" width=\"80\" height=\"80\" data-id=\"2162\" src=\"https:\/\/reports.anglogoldashanti.com\/22\/wp-content\/uploads\/2023\/02\/spacer.svg\" alt=\"\" class=\"wp-image-2162\"\/><\/figure>\n<\/figure>\n<\/div>\n\n\n\n<div class=\"wp-block-group has-border-color has-light-silver-gray-border-color has-background-background-color has-background is-layout-constrained wp-block-group-is-layout-constrained\" style=\"border-width:4px\">\n<h5 class=\"has-background-color has-yellow-background-color has-text-color has-background wp-block-heading\" style=\"padding-top:var(--wp--preset--spacing--20);padding-right:var(--wp--preset--spacing--20);padding-bottom:var(--wp--preset--spacing--20);padding-left:var(--wp--preset--spacing--20)\">Human capital<\/h5>\n\n\n\n<h6 class=\"wp-block-heading\">Workforce<\/h6>\n\n\n\n<ul class=\"wp-block-list\">\n<li>New Operating Model clarified accountabilities across the organisation, eliminated duplication of work and empowered business units with the right skills to deliver their objectives. It also aims to ensure accountability is properly located in the business<\/li>\n\n\n\n<li>$534m paid in salaries and wages (2021: $515m)<\/li>\n\n\n\n<li>Voluntary turnover rate of 1.9%<\/li>\n\n\n\n<li>Average number of training hours per employee was 8.1<\/li>\n<\/ul>\n\n\n\n<h6 class=\"wp-block-heading\">Diversity and training<\/h6>\n\n\n\n<ul class=\"wp-block-list\">\n<li>In 2022, women made up 13% of total workforce, 38% of executive management and 30% of Board members (2021: 12%, 33% and 36% respectively)<\/li>\n\n\n\n<li>Women representation at middle management level and above of 19% (2021: 17%)<\/li>\n<\/ul>\n\n\n\n<h6 class=\"wp-block-heading\">Employee relations<\/h6>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Maintained strong employee relations \u2013 no industrial action<\/li>\n\n\n\n<li>Employee\/labour relations were stable for 2022<\/li>\n<\/ul>\n\n\n\n<h6 class=\"wp-block-heading\">Safety and health<\/h6>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Zero operating fatalities at mines operated by the Company (2021: 2)<\/li>\n\n\n\n<li>Safety performance improved further, remaining well below 2021 ICMM peer average and severity of injuries continued to decline<\/li>\n<\/ul>\n\n\n\n<p>For further detail, see <em><strong><a href=\"https:\/\/reports.anglogoldashanti.com\/22\/ir\/strategic-focus-areas\/people-safety-health-sustainability\/\">Prioritise people, safety, health and sustainability<\/a><\/strong><\/em> and <strong><em><a href=\"https:\/\/reports.anglogoldashanti.com\/22\/ir\/value-created-preserved-eroded\/value-distributed-by-stakeholder\/\">Value by shareholder<\/a><\/em><\/strong><\/p>\n\n\n\n<p class=\"has-light-gray-background-color has-background\" style=\"padding-top:var(--wp--preset--spacing--20);padding-right:var(--wp--preset--spacing--20);padding-bottom:var(--wp--preset--spacing--20);padding-left:var(--wp--preset--spacing--20)\"><strong>Stakeholders affected: <\/strong>Shareholders, employees, governments and regulators, communities<\/p>\n\n\n\n<h6 class=\"wp-block-heading\">SDGs \u2013 Positive impact<\/h6>\n\n\n\n<figure class=\"wp-block-gallery has-nested-images columns-4 is-cropped wp-block-gallery-3 is-layout-flex wp-block-gallery-is-layout-flex\">\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" data-id=\"1366\" src=\"https:\/\/reports.anglogoldashanti.com\/22\/wp-content\/uploads\/2023\/02\/icon-sdg03.svg\" alt=\"\" class=\"wp-image-1366\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"120\" height=\"120\" data-id=\"1357\" src=\"https:\/\/reports.anglogoldashanti.com\/22\/wp-content\/uploads\/2023\/02\/icon-sdg05.svg\" alt=\"\" class=\"wp-image-1357\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"120\" height=\"120\" data-id=\"1360\" src=\"https:\/\/reports.anglogoldashanti.com\/22\/wp-content\/uploads\/2023\/02\/icon-sdg08.svg\" alt=\"\" class=\"wp-image-1360\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"120\" height=\"120\" data-id=\"1362\" src=\"https:\/\/reports.anglogoldashanti.com\/22\/wp-content\/uploads\/2023\/02\/icon-sdg10.svg\" alt=\"\" class=\"wp-image-1362\"\/><\/figure>\n<\/figure>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-group is-alignment-stretch is-vertical is-layout-flex wp-container-core-group-is-layout-c35747d5 wp-block-group-is-layout-flex\">\n<div class=\"wp-block-group has-border-color has-light-silver-gray-border-color has-background-background-color has-background is-layout-constrained wp-block-group-is-layout-constrained\" style=\"border-width:5px\">\n<h5 class=\"has-background-color has-silver-gray-background-color has-text-color has-background wp-block-heading\" style=\"padding-top:var(--wp--preset--spacing--20);padding-right:var(--wp--preset--spacing--20);padding-bottom:var(--wp--preset--spacing--20);padding-left:var(--wp--preset--spacing--20)\">Financial capital<\/h5>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Maintained robust balance sheet \u2013 strong liquidity of approximately $2.5bn, low leverage of 0.49 times adjusted net debt to adjusted EBITDA ratio \u2013 and refinanced the revolving credit facility with a new facility<\/li>\n\n\n\n<li>Adjusted net debt of $878m, up 15% from 2021, after financing the acquisitions of Corvus and Coeur Sterling, as well as dividends paid during the year<\/li>\n\n\n\n<li>Net cash position \u2013 cash and cash equivalents of $1.1bn<\/li>\n\n\n\n<li>Free cash inflow of $657m, up 532% from $104m in 2021<\/li>\n\n\n\n<li>Adjusted EBITDA of $1.8bn, flat from 2021<\/li>\n\n\n\n<li>Headline earnings of $544m, down from $612m in 2021<\/li>\n<\/ul>\n\n\n\n<p class=\"has-light-gray-background-color has-background\" style=\"padding-top:var(--wp--preset--spacing--20);padding-right:var(--wp--preset--spacing--20);padding-bottom:var(--wp--preset--spacing--20);padding-left:var(--wp--preset--spacing--20)\"><strong>Stakeholders affected: <\/strong>Investment community, including shareholders, capital providers and prospective investors<\/p>\n\n\n\n<h6 class=\"wp-block-heading\">SDGs \u2013 Positive impact<\/h6>\n\n\n\n<figure class=\"wp-block-gallery has-nested-images columns-4 is-cropped wp-block-gallery-4 is-layout-flex wp-block-gallery-is-layout-flex\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"120\" height=\"120\" data-id=\"1360\" src=\"https:\/\/reports.anglogoldashanti.com\/22\/wp-content\/uploads\/2023\/02\/icon-sdg08.svg\" alt=\"\" class=\"wp-image-1360\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"120\" height=\"120\" data-id=\"1362\" src=\"https:\/\/reports.anglogoldashanti.com\/22\/wp-content\/uploads\/2023\/02\/icon-sdg10.svg\" alt=\"\" class=\"wp-image-1362\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"120\" height=\"120\" data-id=\"1363\" src=\"https:\/\/reports.anglogoldashanti.com\/22\/wp-content\/uploads\/2023\/02\/icon-sdg11.svg\" alt=\"\" class=\"wp-image-1363\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-medium\"><img loading=\"lazy\" decoding=\"async\" width=\"80\" height=\"80\" data-id=\"2162\" src=\"https:\/\/reports.anglogoldashanti.com\/22\/wp-content\/uploads\/2023\/02\/spacer.svg\" alt=\"\" class=\"wp-image-2162\"\/><\/figure>\n<\/figure>\n<\/div>\n\n\n\n<div class=\"wp-block-group has-border-color has-light-silver-gray-border-color has-background-background-color has-background is-layout-constrained wp-block-group-is-layout-constrained\" style=\"border-width:5px\">\n<h5 class=\"has-background-color has-naartjie-background-color has-text-color has-background wp-block-heading\" style=\"padding-top:var(--wp--preset--spacing--20);padding-right:var(--wp--preset--spacing--20);padding-bottom:var(--wp--preset--spacing--20);padding-left:var(--wp--preset--spacing--20)\">Social and relationship capital<\/h5>\n\n\n\n<h6 class=\"wp-block-heading\">Shareholders and investors<\/h6>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Maintained investor confidence by delivering on strategic objectives and targets, solid financial performance and consistent, regular targeted engagement<\/li>\n<\/ul>\n\n\n\n<h6 class=\"wp-block-heading\">Governments and regulators<\/h6>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Constructive relations maintained by regular, reliable engagement, regulatory compliance and responsible citizenship<\/li>\n\n\n\n<li>Regulatory compliance \u2013 no material fines received for non-compliance<\/li>\n<\/ul>\n\n\n\n<h6 class=\"wp-block-heading\">Communities<\/h6>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Community relationships boosted by active engagement and provision of local employment and procurement opportunities, infrastructure and services<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Community partnerships and relations strengthened by ongoing collaborative efforts to combat COVID-19<\/li>\n\n\n\n<li>In June 2022, community unrest due to employment demands temporarily affected operations at Siguiri.<\/li>\n\n\n\n<li>146 community complaints received, of which 65% were resolved at year end (2021: 447 and 89% respectively)<\/li>\n\n\n\n<li>Two human rights violations reported<\/li>\n<\/ul>\n\n\n\n<p>See <strong><em><a href=\"https:\/\/reports.anglogoldashanti.com\/22\/ir\/value-created-preserved-eroded\/value-distributed-by-stakeholder\/\">Value by stakeholder<\/a><\/em><\/strong>  for detail on the financial and other value created and distributed to stakeholders.<\/p>\n\n\n\n<p class=\"has-light-gray-background-color has-background\" style=\"padding-top:var(--wp--preset--spacing--20);padding-right:var(--wp--preset--spacing--20);padding-bottom:var(--wp--preset--spacing--20);padding-left:var(--wp--preset--spacing--20)\"><strong>Stakeholders affected: <\/strong>Shareholders, employees, suppliers, governments and regulators, communities<\/p>\n\n\n\n<h6 class=\"wp-block-heading\">SDGs \u2013 Positive impact<\/h6>\n\n\n\n<figure class=\"wp-block-gallery has-nested-images columns-4 is-cropped wp-block-gallery-5 is-layout-flex wp-block-gallery-is-layout-flex\">\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" data-id=\"1366\" src=\"https:\/\/reports.anglogoldashanti.com\/22\/wp-content\/uploads\/2023\/02\/icon-sdg03.svg\" alt=\"\" class=\"wp-image-1366\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"120\" height=\"120\" data-id=\"1357\" src=\"https:\/\/reports.anglogoldashanti.com\/22\/wp-content\/uploads\/2023\/02\/icon-sdg05.svg\" alt=\"\" class=\"wp-image-1357\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"120\" height=\"120\" data-id=\"1360\" src=\"https:\/\/reports.anglogoldashanti.com\/22\/wp-content\/uploads\/2023\/02\/icon-sdg08.svg\" alt=\"\" class=\"wp-image-1360\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"120\" height=\"120\" data-id=\"1362\" src=\"https:\/\/reports.anglogoldashanti.com\/22\/wp-content\/uploads\/2023\/02\/icon-sdg10.svg\" alt=\"\" class=\"wp-image-1362\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"120\" height=\"120\" data-id=\"1347\" src=\"https:\/\/reports.anglogoldashanti.com\/22\/wp-content\/uploads\/2023\/02\/icon-sdg12.svg\" alt=\"\" class=\"wp-image-1347\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"120\" height=\"120\" data-id=\"1352\" src=\"https:\/\/reports.anglogoldashanti.com\/22\/wp-content\/uploads\/2023\/02\/icon-sdg17.svg\" alt=\"\" class=\"wp-image-1352\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"80\" height=\"80\" data-id=\"2162\" src=\"https:\/\/reports.anglogoldashanti.com\/22\/wp-content\/uploads\/2023\/02\/spacer.svg\" alt=\"\" class=\"wp-image-2162\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-medium\"><img loading=\"lazy\" decoding=\"async\" width=\"80\" height=\"80\" data-id=\"2162\" src=\"https:\/\/reports.anglogoldashanti.com\/22\/wp-content\/uploads\/2023\/02\/spacer.svg\" alt=\"\" class=\"wp-image-2162\"\/><\/figure>\n<\/figure>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-group is-alignment-stretch is-vertical is-layout-flex wp-container-core-group-is-layout-c35747d5 wp-block-group-is-layout-flex\">\n<div class=\"wp-block-group has-border-color has-light-silver-gray-border-color has-background-background-color has-background is-layout-constrained wp-block-group-is-layout-constrained\" style=\"border-width:4px\">\n<h5 class=\"has-background-color has-teal-background-color has-text-color has-background wp-block-heading\" style=\"padding-top:var(--wp--preset--spacing--20);padding-right:var(--wp--preset--spacing--20);padding-bottom:var(--wp--preset--spacing--20);padding-left:var(--wp--preset--spacing--20)\">MANUFACTURED CAPITAL<\/h5>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Book value of tangible assets, right of use assets and intangible assets of $4.47bn<\/li>\n\n\n\n<li>Spent $2.75bn to the cash costs<\/li>\n\n\n\n<li>Continued with implementation of our reinvestment strategy, the new Operating Model and the Full Asset Potential initiative which combined contributed to significant improvements in our operating performance during 2022<\/li>\n<\/ul>\n\n\n\n<h6 class=\"wp-block-heading\">Projects<\/h6>\n\n\n\n<p><em>Quebradona<\/em>: Attractive long-life, high-grade, low-cost project, will introduce copper production into our portfolio. In 2021, Colombia\u2019s national environmental licensing agency \u2018archived\u2019 our environmental licence application, and we are preparing a new Environmental Impact Assessment to submit with the application.<\/p>\n\n\n\n<p><em>Nevada (Beatty)<\/em>: By year end 2022, had acquired Corvus and Coeur Sterling Inc. These acquisitions are to be combined with our existing portfolio of Nevada assets to establish a low-cost, long-life production base over the medium term in the Beatty District.<\/p>\n\n\n\n<p>For more information on our operations, projects and exploration, see <a href=\"https:\/\/reports.anglogoldashanti.com\/22\/ir\/strategic-focus-areas\/portfolio-quality\/\"><strong><em>Improve portfolio quality, Maintain long-term optionality<\/em><\/strong> <\/a>and <strong><em><a href=\"https:\/\/reports.anglogoldashanti.com\/22\/ir\/strategic-focus-areas\/exploration-planning-for-future\/\">Projects and exploration<\/a><\/em>.<\/strong><\/p>\n\n\n\n<p class=\"has-light-gray-background-color has-background\" style=\"padding-top:var(--wp--preset--spacing--20);padding-right:var(--wp--preset--spacing--20);padding-bottom:var(--wp--preset--spacing--20);padding-left:var(--wp--preset--spacing--20)\"><strong>Stakeholders affected: <\/strong>Shareholders, employees, suppliers, governments and regulators, communities and environment<\/p>\n\n\n\n<h6 class=\"wp-block-heading\">SDGs \u2013 Positive impact<\/h6>\n\n\n\n<figure class=\"wp-block-gallery has-nested-images columns-4 is-cropped wp-block-gallery-6 is-layout-flex wp-block-gallery-is-layout-flex\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"120\" height=\"120\" data-id=\"1360\" src=\"https:\/\/reports.anglogoldashanti.com\/22\/wp-content\/uploads\/2023\/02\/icon-sdg08.svg\" alt=\"\" class=\"wp-image-1360\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"120\" height=\"120\" data-id=\"1362\" src=\"https:\/\/reports.anglogoldashanti.com\/22\/wp-content\/uploads\/2023\/02\/icon-sdg10.svg\" alt=\"\" class=\"wp-image-1362\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"120\" height=\"120\" data-id=\"1347\" src=\"https:\/\/reports.anglogoldashanti.com\/22\/wp-content\/uploads\/2023\/02\/icon-sdg12.svg\" alt=\"\" class=\"wp-image-1347\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"80\" height=\"80\" data-id=\"2162\" src=\"https:\/\/reports.anglogoldashanti.com\/22\/wp-content\/uploads\/2023\/02\/spacer.svg\" alt=\"\" class=\"wp-image-2162\"\/><\/figure>\n<\/figure>\n\n\n\n<h6 class=\"wp-block-heading\">SDGs \u2013 Negative impact<\/h6>\n\n\n\n<figure class=\"wp-block-gallery has-nested-images columns-4 is-cropped wp-block-gallery-7 is-layout-flex wp-block-gallery-is-layout-flex\">\n<figure class=\"wp-block-image size-medium\"><img loading=\"lazy\" decoding=\"async\" width=\"120\" height=\"120\" data-id=\"1358\" src=\"https:\/\/reports.anglogoldashanti.com\/22\/wp-content\/uploads\/2023\/02\/icon-sdg06.svg\" alt=\"\" class=\"wp-image-1358\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-medium\"><img loading=\"lazy\" decoding=\"async\" width=\"120\" height=\"120\" data-id=\"1348\" src=\"https:\/\/reports.anglogoldashanti.com\/22\/wp-content\/uploads\/2023\/02\/icon-sdg13.svg\" alt=\"\" class=\"wp-image-1348\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-medium\"><img loading=\"lazy\" decoding=\"async\" width=\"120\" height=\"120\" data-id=\"1350\" src=\"https:\/\/reports.anglogoldashanti.com\/22\/wp-content\/uploads\/2023\/02\/icon-sdg15.svg\" alt=\"\" class=\"wp-image-1350\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"80\" height=\"80\" data-id=\"2162\" src=\"https:\/\/reports.anglogoldashanti.com\/22\/wp-content\/uploads\/2023\/02\/spacer.svg\" alt=\"\" class=\"wp-image-2162\"\/><\/figure>\n<\/figure>\n<\/div>\n\n\n\n<div class=\"wp-block-group has-border-color has-light-silver-gray-border-color has-background-background-color has-background is-layout-constrained wp-block-group-is-layout-constrained\" style=\"border-width:5px\">\n<h5 class=\"has-background-color has-lilac-background-color has-text-color has-background wp-block-heading\" style=\"padding-top:var(--wp--preset--spacing--20);padding-right:var(--wp--preset--spacing--20);padding-bottom:var(--wp--preset--spacing--20);padding-left:var(--wp--preset--spacing--20)\">Intellectual capital<\/h5>\n\n\n\n<h6 class=\"wp-block-heading\">Intellectual capital<\/h6>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Maintained focus on a robust governance framework, organisational systems and procedures, underpinned by integrating all sustainability systems and processes through our Integrated Sustainability Information Management System (iSIMS). Began systems implementation to increase efficiencies and improve outcomes<\/li>\n\n\n\n<li>Began implementation of new Climate Change Strategy to enhance proactivity and transparency in mitigating current and future climate risks; measures being taken to strengthen the climate resilience of our business<\/li>\n\n\n\n<li>Analysis of culture survey results started \u2013 will be used to guide learnings on how to improve engagement and collaboration with one another in pursuit of our strategic goals<\/li>\n<\/ul>\n\n\n\n<p class=\"has-light-gray-background-color has-background\" style=\"padding-top:var(--wp--preset--spacing--20);padding-right:var(--wp--preset--spacing--20);padding-bottom:var(--wp--preset--spacing--20);padding-left:var(--wp--preset--spacing--20)\"><strong>Stakeholders affected: <\/strong>Shareholders, employees, suppliers, governments and regulators<\/p>\n<\/div>\n\n\n\n<section class=\"wp-block-group alignwide has-light-silver-gray-background-color has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"padding-top:var(--wp--preset--spacing--40);padding-right:var(--wp--preset--spacing--40);padding-bottom:var(--wp--preset--spacing--40);padding-left:var(--wp--preset--spacing--40)\">\n<p>For additional information on outcomes and our impacts by stakeholder, see <strong><em><a href=\"https:\/\/reports.anglogoldashanti.com\/22\/ir\/strategic-focus-areas\/people-safety-health-sustainability\/\">Prioritise people, safety, health and sustainability<\/a><\/em><\/strong> and <strong><em><a href=\"https:\/\/reports.anglogoldashanti.com\/22\/ir\/value-created-preserved-eroded\/value-distributed-by-stakeholder\/\">Value by stakeholder<\/a><\/em><\/strong> in this report.<\/p>\n<\/section>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<section class=\"wp-block-group alignwide is-layout-flow wp-block-group-is-layout-flow\"><\/section>\n\n\n\n<div class=\"wp-block-cover alignfull\" style=\"min-height:600px;aspect-ratio:unset;\"><span aria-hidden=\"true\" class=\"wp-block-cover__background has-background-dim-0 has-background-dim\"><\/span><img loading=\"lazy\" decoding=\"async\" width=\"1707\" height=\"2560\" class=\"wp-block-cover__image-background wp-image-5465\" alt=\"\" src=\"https:\/\/reports.anglogoldashanti.com\/22\/wp-content\/uploads\/2023\/03\/AGA-191214-0223-scaled.jpg\" style=\"object-position:58% 43%\" data-object-fit=\"cover\" data-object-position=\"58% 43%\" srcset=\"https:\/\/reports.anglogoldashanti.com\/22\/wp-content\/uploads\/2023\/03\/AGA-191214-0223-scaled.jpg 1707w, https:\/\/reports.anglogoldashanti.com\/22\/wp-content\/uploads\/2023\/03\/AGA-191214-0223-320x480.jpg 320w, https:\/\/reports.anglogoldashanti.com\/22\/wp-content\/uploads\/2023\/03\/AGA-191214-0223-1600x2400.jpg 1600w, https:\/\/reports.anglogoldashanti.com\/22\/wp-content\/uploads\/2023\/03\/AGA-191214-0223-768x1152.jpg 768w, https:\/\/reports.anglogoldashanti.com\/22\/wp-content\/uploads\/2023\/03\/AGA-191214-0223-1024x1536.jpg 1024w, https:\/\/reports.anglogoldashanti.com\/22\/wp-content\/uploads\/2023\/03\/AGA-191214-0223-1365x2048.jpg 1365w\" sizes=\"auto, (max-width: 1707px) 100vw, 1707px\" \/><div class=\"wp-block-cover__inner-container is-layout-flow wp-block-cover-is-layout-flow\">\n<p class=\"has-text-align-center has-large-font-size\"><\/p>\n<\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Delivery on our strategy involves optimising and balancing the use of scarce capital resource inputs to enhance positive outcomes and impacts (value created and preserved), and to minimise the negative (value eroded).<\/p>\n","protected":false},"author":1,"featured_media":5465,"parent":38,"menu_order":8,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"class_list":["post-44","page","type-page","status-publish","has-post-thumbnail","hentry","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - 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