{"id":88,"date":"2023-01-05T12:50:34","date_gmt":"2023-01-05T12:50:34","guid":{"rendered":"https:\/\/reports.anglogoldashanti.com\/22\/?page_id=88"},"modified":"2023-05-05T10:45:53","modified_gmt":"2023-05-05T10:45:53","slug":"mineral-resource-reserve-summary","status":"publish","type":"page","link":"https:\/\/reports.anglogoldashanti.com\/22\/ir\/strategic-focus-areas\/mineral-resource-reserve-summary\/","title":{"rendered":"Mineral Resource and Mineral Reserve \u2013 a summary"},"content":{"rendered":"\n
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Home<\/a><\/span> \u00bb Integrated Report<\/a><\/span> \u00bb Performance and delivery by strategic focus area<\/a><\/span> \u00bb Mineral Resource and Mineral Reserve \u2013 a summary<\/span><\/span><\/div>\n\n

Mineral Resource and Mineral Reserve \u2013 a summary<\/h1>\n\n\n

AngloGold Ashanti strives to actively create value by growing its major asset \u2013 the Mineral Resource and Mineral Reserve. This drive is based on active, well-defined brownfields and advanced project development programmes, innovation in both geological modelling and mine planning, and continual optimisation of the asset portfolio. Ensuring a viable Mineral Resource and Mineral Reserve pipeline enables delivery of sustained value-adding growth in the long term.<\/p>\n<\/div>\n\n\n\n

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The Mineral Resource, as reported, is inclusive of the Mineral Reserve component, unless otherwise stated.<\/p>\n <\/cite><\/blockquote>\n<\/div>\n<\/div>\n<\/div>\n\n\n\n

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Responsible management of our Mineral Resource and Mineral Reserve, our exploration programme and related planning, is vital in optimising the operating lives of our assets. In so doing, AngloGold Ashanti ensures that it is able to deliver on its strategy and related strategic objectives, in particular, maintaining longterm optionality and improving the quality of our portfolio. See also Exploration and planning for the future<\/a><\/em><\/strong> in this report.<\/p>\n\n\n\n

Reporting compliance<\/h2>\n\n\n\n

AngloGold Ashanti reports its Mineral Resource and Mineral Reserve in accordance with the minimum standards prescribed by the South African Code for the Reporting of Exploration Results, Mineral Resources and Mineral Reserves, 2016 edition (SAMREC Code) and Section 12.13 of the JSE Listings Requirements (as updated from time to time).<\/p>\n\n\n\n

We achieve this by ensuring the principles of integrity, transparency and materiality are central to the compilation of this report and through using the reporting criteria and definitions as detailed in the SAMREC Code. The changes to AngloGold Ashanti\u2019s Mineral Resource and Mineral Reserve were reviewed in compliance with the SAMREC Code, and it was concluded that detailed reporting as defined in Table 1 of the SAMREC Code for significant operations or projects will be provided for Geita and for the first-time Mineral Resource declaration for North Bullfrog. For the remaining assets, the Company will continue to provide the high-level of detail it has in previous years to comply with the transparency requirements of the SAMREC Code.<\/p>\n\n\n\n

Price assumptions<\/h2>\n\n\n\n

The Mineral Resource and Mineral Reserve are based on the use of economic assumptions which provide a basis for establishing the reasonable prospects of economic extraction for the Mineral Resource, and for establishing the expected price for the Mineral Reserve. These economic assumptions, which include long-range commodity price, exchange rate forecasts, and management estimates using a range of techniques including historic price averages, are prepared in-house and reviewed annually. AngloGold Ashanti selects a conservative Mineral Reserve price relative to its peers. This is done to fit into its strategy of including a margin in the mine planning process. The resultant plan is then valued at a higher business planning price.<\/p>\n\n\n\n

Gold price<\/h3>\n\n\n\n

The following gold prices were used as the basis for estimation, unless otherwise stated: <\/p>\n\n\n\n

\n \n \n \n \n \n \n \n \n \n \n \n
<\/th>\n <\/th>\n Local prices of gold<\/th>\n <\/tr> \n
<\/th>\n Gold price
$\/oz<\/th>\n 		Australia
AUD\/oz<\/th>\n 		Brazil
BRL\/oz<\/th>\n 		Argentina
ARS\/oz<\/th>\n 		Colombia
COP\/oz<\/th>\n <\/tr>\n <\/thead>\n
Mineral Reserve<\/strong><\/th>\n <\/tr>\n
2022<\/strong><\/td>\n 1,400<\/strong><\/td>\n 1,919<\/strong><\/td>\n 7,830<\/strong><\/td>\n 208,000<\/strong><\/td>\n 4,261,380<\/strong><\/td>\n <\/tr>\n
2021<\/td>\n 1,200<\/td>\n 1,633<\/td>\n 6,182<\/td>\n 134,452<\/td>\n 3,849,000<\/td>\n <\/tr>\n
Mineral Resource<\/strong><\/th>\n <\/tr>\n
2022<\/strong><\/td>\n 1,750<\/strong><\/td>\n 2,416<\/strong><\/td>\n 9,401<\/strong><\/td>\n 253,500<\/strong><\/td>\n 6,076,725<\/strong><\/td>\n <\/tr>\n
2021<\/td>\n 1,500<\/td>\n 2,072<\/td>\n 7,940<\/td>\n 173,065<\/td>\n 5,336,250<\/td>\n <\/tbody>\n <\/table>\n<\/figure>\n\n\n\n

Copper price<\/h3>\n\n\n\n

The following copper prices were used as the basis for estimation, unless otherwise stated:<\/p>\n\n\n\n

\n \n \n \n \n \n \n \n \n \n \n \n
 <\/th> \n  <\/th> \n Local prices of
copper<\/th>\n <\/tr>\n
 <\/th> \n Copper price
$\/lb<\/th> \n 		Colombia
COP\/lb<\/th>\n <\/tr> \n <\/thead>\n
Mineral Reserve<\/strong><\/td> \n <\/td> \n <\/td>\n <\/tr>\n
2022<\/strong><\/td> \n 2.90<\/strong><\/td> \n 9,302<\/strong><\/td>\n <\/tr>\n
2021<\/td> \n 2.90<\/td> \n 9,302<\/td>\n <\/tr>\n
Mineral Resource<\/strong><\/td> \n <\/td> \n <\/td>\n <\/tr>\n
2022<\/strong><\/td> \n 3.50<\/strong><\/td> \n 12,451<\/strong><\/td>\n <\/tr>\n
2021<\/td> \n 3.50<\/td> \n 12,451<\/td>\n <\/tr>\n <\/tbody>\n <\/table>\n<\/figure>\n<\/div>\n\n\n\n