{"id":16,"date":"2026-02-05T14:23:36","date_gmt":"2026-02-05T12:23:36","guid":{"rendered":"https:\/\/reports.anglogoldashanti.com\/25\/?page_id=16"},"modified":"2026-03-26T04:36:46","modified_gmt":"2026-03-26T02:36:46","slug":"rr","status":"publish","type":"page","link":"https:\/\/reports.anglogoldashanti.com\/25\/rr\/","title":{"rendered":"2025 Mineral Resource and Mineral Reserve Report"},"content":{"rendered":"\n<div class=\"wp-block-group alignwide is-layout-flow wp-block-group-is-layout-flow\" id=\"pageNavigation\">\n<div class=\"wp-block-group alignwide is-content-justification-space-between is-nowrap is-layout-flex wp-container-core-group-is-layout-788841da wp-block-group-is-layout-flex wp-container-1 is-position-sticky\">\n<h1 class=\"wp-block-heading has-medium-font-size\" style=\"font-style:normal;font-weight:300;letter-spacing:3px;text-transform:uppercase\"><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-primary-color\">2025<\/mark><\/strong> Mineral RESOURCE &amp; MINERAL RESERVE <\/h1>\n\n\n<nav class=\"wp-block-navigation has-roboto-condensed-font-family is-layout-flex wp-container-core-navigation-is-layout-b506fa35 wp-block-navigation-is-layout-flex\" aria-label=\"RR\"><ul class=\"wp-block-navigation__container wp-block-navigation has-roboto-condensed-font-family\"><li class=\"wp-block-navigation-item wp-block-navigation-link\"><a class=\"wp-block-navigation-item__content\"  href=\"#introduction\"><span class=\"wp-block-navigation-item__label\">Introduction<\/span><\/a><\/li><li class=\"wp-block-navigation-item wp-block-navigation-link\"><a class=\"wp-block-navigation-item__content\"  href=\"#summary\"><span class=\"wp-block-navigation-item__label\">Summary<\/span><\/a><\/li><li class=\"wp-block-navigation-item wp-block-navigation-link\"><a class=\"wp-block-navigation-item__content\"  href=\"#reconciliation\"><span class=\"wp-block-navigation-item__label\">Reconciliation <\/span><\/a><\/li><li class=\"wp-block-navigation-item wp-block-navigation-link\"><a class=\"wp-block-navigation-item__content\"  href=\"#qualified-persons\"><span class=\"wp-block-navigation-item__label\">Qualified persons<\/span><\/a><\/li><\/ul><\/nav><\/div>\n<\/div>\n\n\n\n<section class=\"wp-block-group alignfull intersection has-global-padding is-layout-constrained wp-block-group-is-layout-constrained\" id=\"introduction\" style=\"margin-top:var(--wp--preset--spacing--60);margin-bottom:var(--wp--preset--spacing--70)\">\n<div class=\"wp-block-group alignwide has-global-padding is-content-justification-left is-layout-constrained wp-container-core-group-is-layout-cd43dba1 wp-block-group-is-layout-constrained\" style=\"padding-right:var(--wp--preset--spacing--50);padding-left:var(--wp--preset--spacing--50)\">\n<p class=\"has-primary-color has-text-color has-link-color has-large-font-size wp-elements-2c1cde9858012a1934dae574bbe91fa4 wp-block-paragraph\" style=\"font-style:normal;font-weight:500;letter-spacing:2px;line-height:1.2\">The Mineral Resource and Mineral Reserve at 31 December 2025 for AngloGold Ashanti are reported in accordance with the SEC mining property disclosure requirements set forth in Regulation S-K 1300.<\/p>\n\n\n\n<p class=\"has-normal-font-size wp-block-paragraph\">The reporting criteria, as outlined in Regulation S-K 1300, have been used in the preparation of internal documentation for each operation, from which the Mineral Resource and Mineral Reserve stated in this report have been drawn.<\/p>\n\n\n\n<p class=\"has-normal-font-size wp-block-paragraph\">In compliance with Regulation S-K 1300, the Mineral Resource in this report is reported as exclusive of the Mineral Reserve before dilution and other factors are applied, unless otherwise stated. <\/p>\n\n\n\n<p class=\"has-normal-font-size wp-block-paragraph\">Measured and Indicated Mineral Resource is reported separately from Inferred Mineral Resource in our reports. Mineral Resource and Mineral Reserve estimates are reported at 31 December 2025 and are net of depletion. <\/p>\n\n\n\n<p class=\"has-normal-font-size wp-block-paragraph\">For additional information, refer to Table 1 (Summary Mineral Resource) and Table 2 (Summary Mineral Reserve) to Paragraph (b) of\nItem 1303 (Summary disclosure) of Regulation S-K below. These summary tables are also presented in AngloGold Ashanti\u2019s annual report\non Form 20-F for the financial year ended 31 December 2025 filed with the SEC. These summary tables include each class of Mineral\nResource (Inferred, Indicated and Measured) together with total Measured and Indicated Mineral Resource, and each class of Mineral Reserve\n(Probable and Proven) together with total Mineral Reserve.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-outline is-style-outline--2\"><a class=\"wp-block-button__link has-foreground-color has-text-color has-link-color has-normal-font-size has-custom-font-size wp-element-button\" href=\"https:\/\/reports.anglogoldashanti.com\/25\/wp-content\/uploads\/2026\/03\/AGA-RR25.pdf\"><strong>2025 Mineral Resource &amp; Mineral Reserve (pdf)<\/strong><\/a><\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<div class=\"wp-block-group alignwide intersection is-nowrap is-layout-flex wp-container-core-group-is-layout-38250f08 wp-block-group-is-layout-flex\" id=\"summary\" style=\"margin-top:var(--wp--preset--spacing--50);margin-bottom:var(--wp--preset--spacing--50)\" data-aos=\"fade\" data-aos-delay=\"100\" data-aos-duration=\"600\">\n<h2 class=\"wp-block-heading\">Summary of changes for gold<\/h2>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-primary-color has-alpha-channel-opacity has-primary-background-color has-background is-style-default wp-container-content-9cfa9a5a\"\/>\n<\/div>\n\n\n\n<section class=\"wp-block-group alignwide intersection is-layout-flow wp-block-group-is-layout-flow\" id=\"review-content\" style=\"min-height:60vh;margin-top:var(--wp--preset--spacing--60);margin-bottom:var(--wp--preset--spacing--60);padding-right:var(--wp--preset--spacing--50);padding-left:var(--wp--preset--spacing--50)\" data-aos=\"fade\" data-aos-delay=\"100\" data-aos-duration=\"600\">\n<div class=\"wp-block-group alignwide has-global-padding is-content-justification-left is-layout-constrained wp-container-core-group-is-layout-94064b44 wp-block-group-is-layout-constrained\" style=\"padding-right:var(--wp--preset--spacing--30);padding-left:var(--wp--preset--spacing--30)\">\n<p class=\"has-foreground-color has-text-color has-link-color has-medium-font-size wp-elements-f2c1dbe840364200844b173b1a93ca44 wp-block-paragraph\" style=\"font-style:normal;font-weight:500;letter-spacing:2px;line-height:1.3\"><strong>AngloGold Ashanti reports a 68.0Moz gold Measured and Indicated Mineral Resource, 49.3Moz gold Inferred Mineral Resource and 36.5Moz gold Mineral Reserve after revisions, acquisitions and depletion.<\/strong><\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-group alignwide is-style-glassmorphic has-global-padding is-content-justification-left is-layout-constrained wp-container-core-group-is-layout-cb0d349d wp-block-group-is-layout-constrained\" style=\"margin-top:var(--wp--preset--spacing--40);margin-bottom:var(--wp--preset--spacing--40);padding-top:var(--wp--preset--spacing--30);padding-right:var(--wp--preset--spacing--30);padding-bottom:var(--wp--preset--spacing--30);padding-left:var(--wp--preset--spacing--30)\">\n<div class=\"wp-block-columns alignwide is-layout-flex wp-container-core-columns-is-layout-9d733185 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:45%\">\n<h3 class=\"wp-block-heading has-primary-color has-text-color has-link-color wp-elements-33f12f1583021853b6153a7a403810ca\">Mineral Resource<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Over the past three years, <strong>gold Measured and Indicated Mineral Resource<\/strong> has increased despite the 2025 disposals of Doropo (Africa) and Serra Grande (Americas). Growth was driven by the 2024 acquisitions of Sukari and Doropo (Africa), three-year exploration success and improved economics across most African operations, AGA Minera\u00e7\u00e3o (Americas), and Nevada\u2019s Arthur Gold Project, along with the 2025 acquisition of Augusta in Nevada. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Gold Inferred Mineral Resource<\/strong> increased in 2024, primarily reflecting the acquisition of Sukari, Doropo, and the ABC Project (Africa). In 2025, Inferred Mineral Resource decreased mainly due to the disposal of Doropo and the ABC Project (Africa) and Serra Grande (Americas), as well as the first-time declaration of a Mineral Reserve at the Merlin deposit which reduced Mineral Resource at the Arthur Gold Project, partially offset by the 2025 acquisition of Augusta in Nevada.<\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\"><div class=\"lazyblock-charts-d0ITy wp-block-lazyblock-charts\">  \n<h6 class=\"chart-title\">Gold Measured and Indicated Mineral Resource (Moz)<\/h6>\n<div class=\"chart-wrapper\">\n<script>\n$chartCount = document.querySelectorAll('canvas').length;\n\n\n<\/script>  \n    <canvas id=\"chart-d0ITy-iszdQM69Gpi5\"\n        style=\"position: relative; min-height: 180px; height: 180px; width:100%\"><\/canvas>\n<\/div>\n\n<script type=\"text\/javascript\">\n$excelFileUrl = 'https:\/\/reports.anglogoldashanti.com\/25\/wp-content\/uploads\/2026\/03\/chart-rr-regional-gold-measured.csv'\n\n\nif ($excelFileUrl && $excelFileUrl != '') {\n\n        d3.csv($excelFileUrl) \n        .then((data) => {\n        renderChart(data, 'bar', 'chart-d0ITy-iszdQM69Gpi5', 'Gold Measured and Indicated Mineral Resource (Moz)',\n               'rr', 'stacked-bar', 'bottom',\n               '', 'stack-total', '1', 'number','',''\n             );\n\n        });      \n        \n        \n}\n\n<\/script><\/div>\n\n<div class=\"lazyblock-charts-Z2iNR2J wp-block-lazyblock-charts\">  \n<h6 class=\"chart-title\">Gold Inferred Mineral Resource (Moz)<\/h6>\n<div class=\"chart-wrapper\">\n<script>\n$chartCount = document.querySelectorAll('canvas').length;\n\n\n<\/script>  \n    <canvas id=\"chart-Z2iNR2J-MpDSmAVUV30j\"\n        style=\"position: relative; min-height: 180px; height: 180px; width:100%\"><\/canvas>\n<\/div>\n\n<script type=\"text\/javascript\">\n$excelFileUrl = 'https:\/\/reports.anglogoldashanti.com\/25\/wp-content\/uploads\/2026\/03\/chart-rr-regional-gold-inferred.csv'\n\n\nif ($excelFileUrl && $excelFileUrl != '') {\n\n        d3.csv($excelFileUrl) \n        .then((data) => {\n        renderChart(data, 'bar', 'chart-Z2iNR2J-MpDSmAVUV30j', 'Gold Inferred Mineral Resource (Moz)',\n               'rr', 'stacked-bar', 'bottom',\n               '', 'stack-total', '1', 'number','',''\n             );\n\n        });      \n        \n        \n}\n\n<\/script><\/div><\/div>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-group alignwide is-style-glassmorphic has-global-padding is-content-justification-left is-layout-constrained wp-container-core-group-is-layout-c7062723 wp-block-group-is-layout-constrained\" style=\"padding-top:var(--wp--preset--spacing--30);padding-right:var(--wp--preset--spacing--30);padding-bottom:var(--wp--preset--spacing--30);padding-left:var(--wp--preset--spacing--30)\">\n<div class=\"wp-block-columns alignwide is-layout-flex wp-container-core-columns-is-layout-9d733185 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:45%\">\n<h3 class=\"wp-block-heading has-primary-color has-text-color has-link-color wp-elements-0e34248813554cd5da28a884e767cd08\">Mineral Reserve<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Over the past three years, <strong>gold Mineral Reserve<\/strong> has increased considerably\u2014driven by the 2024 acquisition of Sukari (Africa), notable three-year Mineral Reserve growth at Geita (Africa) and AGA Minera\u00e7\u00e3o (Americas), and the first-time declaration of a Mineral Reserve in 2025 at the Arthur Gold Project following exploration success and completion of a prefeasibility study.<\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\"><div class=\"lazyblock-charts-Z1wMlAE wp-block-lazyblock-charts\">  \n<h6 class=\"chart-title\">Gold Mineral Reserve (Moz)<\/h6>\n<div class=\"chart-wrapper\">\n<script>\n$chartCount = document.querySelectorAll('canvas').length;\n\n\n<\/script>  \n    <canvas id=\"chart-Z1wMlAE-7TtsAxo3P4q7\"\n        style=\"position: relative; min-height: 180px; height: 180px; width:100%\"><\/canvas>\n<\/div>\n\n<script type=\"text\/javascript\">\n$excelFileUrl = 'https:\/\/reports.anglogoldashanti.com\/25\/wp-content\/uploads\/2026\/03\/chart-rr-regional-gold-reserve.csv'\n\n\nif ($excelFileUrl && $excelFileUrl != '') {\n\n        d3.csv($excelFileUrl) \n        .then((data) => {\n        renderChart(data, 'bar', 'chart-Z1wMlAE-7TtsAxo3P4q7', 'Gold Mineral Reserve (Moz)',\n               'rr', 'stacked-bar', 'bottom',\n               '', 'stack-total', '1', 'number','',''\n             );\n\n        });      \n        \n        \n}\n\n<\/script><\/div><\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<div class=\"wp-block-group alignwide intersection is-nowrap is-layout-flex wp-container-core-group-is-layout-38250f08 wp-block-group-is-layout-flex\" id=\"reconciliation\" style=\"margin-top:var(--wp--preset--spacing--50);margin-bottom:var(--wp--preset--spacing--50)\" data-aos=\"fade\" data-aos-delay=\"100\" data-aos-duration=\"600\">\n<h2 class=\"wp-block-heading\">Year-on-year reconciliation<\/h2>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-primary-color has-alpha-channel-opacity has-primary-background-color has-background is-style-default wp-container-content-9cfa9a5a\"\/>\n<\/div>\n\n\n\n<section class=\"wp-block-group alignfull has-global-padding is-layout-constrained wp-block-group-is-layout-constrained\" id=\"reconciliation-content\" style=\"margin-top:var(--wp--preset--spacing--60);margin-bottom:var(--wp--preset--spacing--60)\">\n<div class=\"wp-block-group alignwide tab-group is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-buttons alignfull tab-nav is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-a2b3a4d4 wp-block-buttons-is-layout-flex\" style=\"margin-top:var(--wp--preset--spacing--40);margin-bottom:var(--wp--preset--spacing--40)\">\n<div class=\"wp-block-button is-style-outline  is-active is-style-outline--3\"><a class=\"wp-block-button__link has-teal-color has-text-color has-link-color wp-element-button\" href=\"#resource\">Mineral Resource<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-outline is-style-outline--4\"><a class=\"wp-block-button__link has-teal-color has-text-color has-link-color wp-element-button\" href=\"#reserve\">Mineral Reserve<\/a><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-group alignwide tab-content is-active is-layout-flow wp-block-group-is-layout-flow\" id=\"resource\" style=\"padding-right:var(--wp--preset--spacing--30);padding-left:var(--wp--preset--spacing--30)\">\n<div class=\"wp-block-group alignwide is-style-glassmorphic is-layout-flow wp-block-group-is-layout-flow\" style=\"padding-top:var(--wp--preset--spacing--30);padding-right:var(--wp--preset--spacing--30);padding-bottom:var(--wp--preset--spacing--30);padding-left:var(--wp--preset--spacing--30)\" data-aos=\"fade\" data-aos-delay=\"100\" data-aos-duration=\"600\">\n<h3 class=\"wp-block-heading has-primary-color has-text-color has-link-color wp-elements-725e69a658105920593d3fbc446eeb72\">Gold<\/h3>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-5b9cbc20 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:45%\">\n<p class=\"has-normal-font-size wp-block-paragraph\">The AngloGold Ashanti gold Measured and Indicated Mineral Resource increased from 67.1Moz at 31 December 2024 to 68.0Moz at 31 December 2025. Additions included 1.3Moz from the acquisition of the Reward and Bullfrog assets from Augusta, exploration and modelling changes of 1.0Moz and economic assumptions of 0.4Moz. The additions were partially offset by reductions which included disposals of the Doropo, ABC and Serra Grande assets of 1.7Moz and other factors of 0.1Moz. As a result, the net year-on-year gold Measured and Indicated Mineral Resource addition was 0.9Moz.<\/p>\n\n\n\n<p class=\"has-normal-font-size wp-block-paragraph\">The AngloGold Ashanti gold Inferred Mineral Resource decreased from 55.0Moz at 31 December 2024 to 49.3Moz at 31 December 2025. Additions included exploration and modelling changes of 3.4Moz (excluding the Arthur Gold Project) and 0.3Moz from the acquisition of the Reward and Bullfrog assets from Augusta and other factors of 0.2Moz. The additions were fully offset by exploration and modelling reductions of 5.8Moz at the Arthur Gold Project due to the development of a new Mineral Reserve, disposals of the Doropo, ABC and Serra Grande assets of 3.3Moz and economic assumptions of 0.5Moz. As a result, the net year-on-year gold Inferred Mineral Resource reduction was 5.7Moz.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">On 7 March 2026, AngloGold Ashanti entered into a definitive agreement to sell AngloGold Ashanti Colombia S.A.S., which owns the La Colosa project, to Mineros S.A. At 31 December 2025, the Gold Measured and Indicated Mineral Resource at La Colosa amounted to 23.35Moz and the gold Inferred Mineral Resource at La Colosa amounted to 4.98Moz.<\/p>\n\n\n\n<p class=\"has-normal-font-size wp-block-paragraph\">The gold Mineral Resource at 31 December 2025 was estimated using a gold price of $2,000\/oz, unless otherwise stated (2024: $1,900\/oz). <\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\"><div class=\"lazyblock-charts-1Q0mss wp-block-lazyblock-charts\">  \n<h6 class=\"chart-title\">Year-on-year reconciliation Measured &#038; Indicated Mineral Resource Gold (Moz)<\/h6>\n<div class=\"chart-wrapper\">\n<script>\n$chartCount = document.querySelectorAll('canvas').length;\n\n\n<\/script>  \n    <canvas id=\"chart-1Q0mss-UVXRqsUkUC41\"\n        style=\"position: relative; min-height: 240px; height: 240px; width:100%\"><\/canvas>\n<\/div>\n\n<script type=\"text\/javascript\">\n$excelFileUrl = 'https:\/\/reports.anglogoldashanti.com\/25\/wp-content\/uploads\/2026\/03\/chart-rr-gold-measured-reconciliation.csv'\n\n\nif ($excelFileUrl && $excelFileUrl != '') {\n\n        d3.csv($excelFileUrl) \n        .then((data) => {\n        renderChart(data, 'bar', 'chart-1Q0mss-UVXRqsUkUC41', 'Year-on-year reconciliation Measured & Indicated Mineral Resource Gold (Moz)',\n               'dark', 'waterfall-bar', 'bottom',\n               '', '', '1', 'number','',''\n             );\n\n        });      \n        \n        \n}\n\n<\/script><\/div>\n\n<div class=\"lazyblock-charts-LcTYF wp-block-lazyblock-charts\">  \n<h6 class=\"chart-title\">Year-on-year reconciliation Inferred Mineral Resource Gold (Moz)<\/h6>\n<div class=\"chart-wrapper\">\n<script>\n$chartCount = document.querySelectorAll('canvas').length;\n\n\n<\/script>  \n    <canvas id=\"chart-LcTYF-aAvwutDN3BMh\"\n        style=\"position: relative; min-height: 240px; height: 240px; width:100%\"><\/canvas>\n<\/div>\n\n<script type=\"text\/javascript\">\n$excelFileUrl = 'https:\/\/reports.anglogoldashanti.com\/25\/wp-content\/uploads\/2026\/03\/chart-rr-gold-inferred-reconciliation.csv'\n\n\nif ($excelFileUrl && $excelFileUrl != '') {\n\n        d3.csv($excelFileUrl) \n        .then((data) => {\n        renderChart(data, 'bar', 'chart-LcTYF-aAvwutDN3BMh', 'Year-on-year reconciliation Inferred Mineral Resource Gold (Moz)',\n               'dark', 'waterfall-bar', 'bottom',\n               '', '', '1', 'number','',''\n             );\n\n        });      \n        \n        \n}\n\n<\/script><\/div><\/div>\n<\/div>\n\n\n\n<h4 class=\"wp-block-heading has-foreground-color has-text-color has-link-color wp-elements-e91eef1569db1a3e6903d28b78db638a\">Year-on-year changes<\/h4>\n\n\n\n<figure class=\"wp-block-table is-style-numeric-table\">\n    <table>\n        <thead>\n            <tr>\n                <th class=\"has-text-align-left\" data-align=\"left\"><\/th>\n                <th class=\"has-text-align-left\" data-align=\"left\"><\/th>\n                <th class=\"has-text-align-center has-background-color has-teal-shade-background-color has-text-color has-background\" colspan=\"2\"  data-align=\"center\">Moz<\/th>\n            <\/tr>\n            <tr>\n                <th class=\"has-text-align-left\" data-align=\"left\"><\/th>\n                <th class=\"has-text-align-left\" data-align=\"left\"><\/th>\n                <th class=\"has-text-align-right has-foreground-color has-super-light-gray-background-color has-text-color has-background has-link-color\" data-align=\"right\">Measured<br>and Indicated<\/th>\n                <th class=\"has-text-align-right has-foreground-color has-super-light-gray-background-color has-text-color has-background has-link-color\" data-align=\"right\">Inferred<\/th>\n            <\/tr>\n        <\/thead>\n        <tbody>\n            <tr class=\"thick-rule\">\n                <td class=\"has-text-align-left thick-rule\"  colspan=\"2\" data-align=\"left\"><strong>Mineral Resource at 31 December 2024<\/strong>\n                <\/td>\n                <td class=\"has-text-align-right thick-rule\" data-align=\"right\"><strong>67.1<\/strong><\/td>\n                <td class=\"has-text-align-right thick-rule\" data-align=\"right\"><strong>55.0<\/strong><\/td>\n            <\/tr>\n            <tr>\n                <td class=\"has-text-align-left\" data-align=\"left\"><strong>Acquisition<\/strong><\/td>\n                <td class=\"has-text-align-left\" data-align=\"left\">Reward and Bullfrog assets from Augusta Gold, included in\n                    Nevada Regional Deposits<\/td>\n                <td class=\"has-text-align-right\" data-align=\"right\">1.3<\/td>\n                <td class=\"has-text-align-right\" data-align=\"right\">0.3<\/td>\n            <\/tr>\n            <tr class=\"thick-rule\">\n                <td class=\"has-text-align-left thick-rule\" data-align=\"left\">&nbsp;<\/td>\n                <td class=\"has-text-align-left thick-rule\" data-align=\"left\"><strong>Sub-total<\/strong><\/td>\n                <td class=\"has-text-align-right thick-rule\" data-align=\"right\"><strong>68.4<\/strong><\/td>\n                <td class=\"has-text-align-right thick-rule\" data-align=\"right\"><strong>55.3<\/strong><\/td>\n            <\/tr>\n            <tr>\n                <td class=\"has-text-align-left\" data-align=\"left\"><strong>Disposals<\/strong><\/td>\n                <td class=\"has-text-align-left\" data-align=\"left\">Doropo &amp; ABC projects and Serra Grande Mine<\/td>\n                <td class=\"has-text-align-right\" data-align=\"right\">(1.7)<\/td>\n                <td class=\"has-text-align-right\" data-align=\"right\">(3.3)<\/td>\n            <\/tr>\n            <tr class=\"thick-rule\">\n                <td class=\"has-text-align-left thick-rule\" data-align=\"left\">&nbsp;<\/td>\n                <td class=\"has-text-align-left thick-rule\" data-align=\"left\"><strong>Sub-total<\/strong><\/td>\n                <td class=\"has-text-align-right thick-rule\" data-align=\"right\"><strong>66.7<\/strong><\/td>\n                <td class=\"has-text-align-right thick-rule\" data-align=\"right\"><strong>52.0<\/strong><\/td>\n            <\/tr>\n            <tr>\n                <td class=\"has-text-align-left\" data-align=\"left\"><strong><mark\n                            style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-primary-color\">Notable\n                            changes<\/mark><\/strong><\/td>\n                <td class=\"has-text-align-left\" data-align=\"left\"><strong><mark\n                            style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-primary-color\">Due\n                            to:<\/mark><\/strong><\/td>\n                <td class=\"has-text-align-right\" data-align=\"right\">&nbsp;<\/td>\n                <td class=\"has-text-align-right\" data-align=\"right\">&nbsp;<\/td>\n            <\/tr>\n            <tr>\n                <td class=\"has-text-align-left\" data-align=\"left\">Arthur Gold Project<\/td>\n                <td class=\"has-text-align-left\" data-align=\"left\">The addition in Indicated was due to a successful\n                    exploration infill drilling campaign at Merlin which supported an increase in confidence in the\n                    Mineral Resource. The addition was offset by the declaration of a first-time Mineral Reserve which\n                    led to an overall reduction in the Inferred Mineral Resource.<\/td>\n                <td class=\"has-text-align-right\" data-align=\"right\">1.0<\/td>\n                <td class=\"has-text-align-right\" data-align=\"right\">(6.6)<\/td>\n            <\/tr>\n            <tr>\n                <td class=\"has-text-align-left\" data-align=\"left\">Iduapriem<\/td>\n                <td class=\"has-text-align-left\" data-align=\"left\">The addition was due to moderate gains from\n                    exploration drilling, an increase in gold price as well as methodology changes to the plant\n                    constraint for reasonable prospects, offset partially by costs.<\/td>\n                <td class=\"has-text-align-right\" data-align=\"right\">0.5<\/td>\n                <td class=\"has-text-align-right\" data-align=\"right\">1.2<\/td>\n            <\/tr>\n            <tr>\n                <td class=\"has-text-align-left\" data-align=\"left\">AGA Minera\u00e7\u00e3o<\/td>\n                <td class=\"has-text-align-left\" data-align=\"left\">The addition was due to exploration drilling at both\n                    Cuiab\u00e1 and Lamego, modelling at Lamego and an increase in gold price.<\/td>\n                <td class=\"has-text-align-right\" data-align=\"right\">1.0<\/td>\n                <td class=\"has-text-align-right\" data-align=\"right\">0.4<\/td>\n            <\/tr>\n            <tr>\n                <td class=\"has-text-align-left\" data-align=\"left\">Geita<\/td>\n                <td class=\"has-text-align-left\" data-align=\"left\">The addition was due to ongoing exploration drilling\n                    success and modelling changes mainly in Measured and Indicated Mineral Resource, an increase in gold\n                    price, offset partially by cost.<\/td>\n                <td class=\"has-text-align-right\" data-align=\"right\">1.0<\/td>\n                <td class=\"has-text-align-right\" data-align=\"right\">0.0<\/td>\n            <\/tr>\n            <tr class=\"thick-rule\">\n                <td class=\"has-text-align-left thick-rule\" data-align=\"left\">Other<\/td>\n                <td class=\"has-text-align-left thick-rule\" data-align=\"left\">Combined impact of other changes less than 0.5Moz.\n                <\/td>\n                <td class=\"has-text-align-right thick-rule\" data-align=\"right\">(2.2)<\/td>\n                <td class=\"has-text-align-right thick-rule\" data-align=\"right\">2.3<\/td>\n            <\/tr>\n            <tr class=\"shade\">\n                <td class=\"has-text-align-left\" colspan=\"2\" data-align=\"left\"><strong>Mineral Resource at 31 December 2025<\/strong>\n                <\/td>\n                <td class=\"has-text-align-right\" data-align=\"right\"><strong>68.0<\/strong><\/td>\n                <td class=\"has-text-align-right\" data-align=\"right\"><strong>49.3<\/strong><\/td>\n            <\/tr>\n        <\/tbody>\n    <\/table>\n<\/figure>\n<\/div>\n\n\n\n<div class=\"wp-block-group is-style-glassmorphic is-layout-flow wp-block-group-is-layout-flow\" style=\"padding-top:var(--wp--preset--spacing--30);padding-right:var(--wp--preset--spacing--30);padding-bottom:var(--wp--preset--spacing--30);padding-left:var(--wp--preset--spacing--30)\" data-aos=\"fade\" data-aos-delay=\"100\" data-aos-duration=\"600\">\n<h3 class=\"wp-block-heading has-primary-color has-text-color has-link-color wp-elements-83ea7e65c281d2108c77f32b4619e8c6\">Copper<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The AngloGold Ashanti copper Mineral Resource remained unchanged at 1.32Mt (2,902Mlb) Measured and Indicated Mineral Resource and 1.47Mt (3,231Mlb) Inferred Mineral Resource at 31 December 2025 as compared to 31 December 2024, as a feasibility study optimisation is ongoing and no additional exploration has been completed at Quebradona. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The copper Mineral Resource at 31 December 2025 was estimated using a copper price of $3.50\/lb (2024: $3.50\/lb). <\/p>\n\n\n\n<h4 class=\"wp-block-heading has-foreground-color has-text-color has-link-color wp-elements-e91eef1569db1a3e6903d28b78db638a\">Year-on-year changes<\/h4>\n\n\n\n<figure class=\"wp-block-table is-style-numeric-table\">\n    <table>\n        <thead>\n            <tr>\n                <th class=\"has-text-align-left\" data-align=\"left\"><\/th>\n                <th class=\"has-text-align-left\" data-align=\"left\"><\/th>\n                <th class=\"has-text-align-center has-background-color has-teal-shade-background-color has-text-color has-background\" colspan=\"2\"  data-align=\"center\">Mlb<\/th>\n            <\/tr>\n            <tr>\n                <th class=\"has-text-align-left\" data-align=\"left\"><\/th>\n                <th class=\"has-text-align-left\" data-align=\"left\"><\/th>\n                <th class=\"has-text-align-right has-foreground-color has-super-light-gray-background-color has-text-color has-background has-link-color\" data-align=\"right\">Measured<br>and Indicated<\/th>\n                <th class=\"has-text-align-right has-foreground-color has-super-light-gray-background-color has-text-color has-background has-link-color\" data-align=\"right\">Inferred<\/th>\n            <\/tr>\n        <\/thead>\n        <tbody>\n            <tr class=\"thick-rule\">\n                <td class=\"has-text-align-left thick-rule\" colspan=\"2\" data-align=\"left\"><strong>Mineral Resource at 31 December 2024<\/strong>\n                <\/td>\n                <td class=\"has-text-align-right thick-rule\" data-align=\"right\"><strong>2,902<\/strong><\/td>\n                <td class=\"has-text-align-right thick-rule\" data-align=\"right\"><strong>3,231<\/strong><\/td>\n            <\/tr>\n            <tr>\n                <td class=\"has-text-align-left\" data-align=\"left\"><strong><mark\n                            style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-primary-color\">No\n                            changes<\/mark><\/strong><\/td>\n                <td class=\"has-text-align-left\" data-align=\"left\"><strong><mark\n                            style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-primary-color\">Due\n                            to:<\/mark><\/strong><\/td>\n                <td class=\"has-text-align-right\" data-align=\"right\"><\/td>\n                <td class=\"has-text-align-right\" data-align=\"right\"><\/td>\n            <\/tr>\n            <tr class=\"thick-rule\">\n                <td class=\"has-text-align-left thick-rule\" data-align=\"left\">Quebradona<\/td>\n                <td class=\"has-text-align-left thick-rule\" data-align=\"left\">The optimisation of the feasibility study is ongoing and no additional exploration has been completed.<\/td>\n                <td class=\"has-text-align-right thick-rule\" data-align=\"right\">\u2014<\/td>\n                <td class=\"has-text-align-right thick-rule\" data-align=\"right\">\u2014<\/td>\n            <\/tr>\n            <tr class=\"shade\">\n                <td class=\"has-text-align-left\" colspan=\"2\" data-align=\"left\"><strong>Mineral Resource at 31 December 2025<\/strong>\n                <\/td>\n                <td class=\"has-text-align-right\" data-align=\"right\"><strong>2,902<\/strong><\/td>\n                <td class=\"has-text-align-right\" data-align=\"right\"><strong>3,231<\/strong><\/td>\n            <\/tr>\n        <\/tbody>\n    <\/table>\n<\/figure>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-group alignwide tab-content is-layout-flow wp-block-group-is-layout-flow\" id=\"reserve\" style=\"padding-right:var(--wp--preset--spacing--30);padding-left:var(--wp--preset--spacing--30)\">\n<div class=\"wp-block-group alignwide is-style-glassmorphic is-layout-flow wp-block-group-is-layout-flow\" style=\"padding-top:var(--wp--preset--spacing--30);padding-right:var(--wp--preset--spacing--30);padding-bottom:var(--wp--preset--spacing--30);padding-left:var(--wp--preset--spacing--30)\">\n<h3 class=\"wp-block-heading has-primary-color has-text-color has-link-color wp-elements-725e69a658105920593d3fbc446eeb72\">Gold<\/h3>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-5b9cbc20 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:45%\">\n<p class=\"has-normal-font-size wp-block-paragraph\">The AngloGold Ashanti gold Mineral Reserve increased from\n31.2Moz at 31 December 2024 to 36.5Moz at 31 December 2025.\nAdditions consisted of exploration and modelling changes of 7.3Moz,\nincluding the first-time reporting of the Arthur Gold Project Mineral\nReserve of 4.9Moz, the acquisition of the Reward asset from Augusta\nof 0.4Moz, economic assumptions of 2.1Moz and other factors of\n0.2Moz. The additions were partially offset by reductions that\nincluded depletion of 2.7Moz and disposals of the Doropo and Serra\nGrande assets of 2.0Moz. As a result, the net year-on-year gold\nMineral Reserve addition was 5.3Moz.<\/p>\n\n\n\n<p class=\"has-normal-font-size wp-block-paragraph\">The gold Mineral Reserve at 31 December 2025 was estimated using a gold price of $1,700\/oz, unless otherwise stated (2024: $1,600\/oz). <\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\"><div class=\"lazyblock-charts-Z1nVDPN wp-block-lazyblock-charts\">  \n<h6 class=\"chart-title\">Year-on-year reconciliation Mineral Reserve Gold (Moz)<\/h6>\n<div class=\"chart-wrapper\">\n<script>\n$chartCount = document.querySelectorAll('canvas').length;\n\n\n<\/script>  \n    <canvas id=\"chart-Z1nVDPN-GYHVdwQlJsr8\"\n        style=\"position: relative; min-height: 240px; height: 240px; width:100%\"><\/canvas>\n<\/div>\n\n<script type=\"text\/javascript\">\n$excelFileUrl = 'https:\/\/reports.anglogoldashanti.com\/25\/wp-content\/uploads\/2026\/03\/chart-rr-gold-reserve-reconciliation.csv'\n\n\nif ($excelFileUrl && $excelFileUrl != '') {\n\n        d3.csv($excelFileUrl) \n        .then((data) => {\n        renderChart(data, 'bar', 'chart-Z1nVDPN-GYHVdwQlJsr8', 'Year-on-year reconciliation Mineral Reserve Gold (Moz)',\n               'dark', 'waterfall-bar', 'bottom',\n               '', '', '1', 'number','',''\n             );\n\n        });      \n        \n        \n}\n\n<\/script><\/div><\/div>\n<\/div>\n\n\n\n<h4 class=\"wp-block-heading has-foreground-color has-text-color has-link-color wp-elements-e91eef1569db1a3e6903d28b78db638a\">Year-on-year changes<\/h4>\n\n\n\n<figure class=\"wp-block-table is-style-numeric-table\">\n    <table>\n        <thead>\n            <tr>\n                <th class=\"has-text-align-left\" data-align=\"left\"><\/th>\n                <th class=\"has-text-align-left\" data-align=\"left\"><\/th>\n                <th class=\"has-text-align-right has-background-color has-teal-shade-background-color has-text-color has-background\"   data-align=\"center\">Moz<\/th>\n            <\/tr>\n        <\/thead>\n        <tbody>\n            <tr class=\"thick-rule\">\n                <td class=\"has-text-align-left thick-rule\" colspan=\"2\" data-align=\"left\"><strong>Mineral Reserve at 31 December 2024<\/strong>\n                <\/td>\n                <td class=\"has-text-align-right thick-rule\" data-align=\"right\"><strong>31.2<\/strong><\/td>\n            <\/tr>\n            <tr>\n                <td class=\"has-text-align-left\" data-align=\"left\"><strong>Depletion<\/strong><\/td>\n                <td class=\"has-text-align-left\" data-align=\"left\"><\/td>\n                <td class=\"has-text-align-right\" data-align=\"right\">(2.7)<\/td>\n            <\/tr>\n            <tr class=\"thick-rule\">\n                <td class=\"has-text-align-left thick-rule\" data-align=\"left\"><\/td>\n                <td class=\"has-text-align-left thick-rule\" data-align=\"left\"><strong>Sub-total<\/strong><\/td>\n                <td class=\"has-text-align-right thick-rule\" data-align=\"right\"><strong>28.5<\/strong><\/td>\n            <\/tr>\n            <tr>\n                <td class=\"has-text-align-left\" data-align=\"left\"><strong>Acquisition<\/strong><\/td>\n                <td class=\"has-text-align-left\" data-align=\"left\">Reward asset from Augusta Gold, included in Nevada Regional\n                    Deposits<\/td>\n                <td class=\"has-text-align-right\" data-align=\"right\">0.4<\/td>\n            <\/tr>\n            <tr class=\"thick-rule\">\n                <td class=\"has-text-align-left thick-rule\" data-align=\"left\"><\/td>\n                <td class=\"has-text-align-left thick-rule\" data-align=\"left\"><strong>Sub-total<\/strong><\/td>\n                <td class=\"has-text-align-right thick-rule\" data-align=\"right\"><strong>28.9<\/strong><\/td>\n            <\/tr>\n            <tr>\n                <td class=\"has-text-align-left\" data-align=\"left\"><strong>Disposal<\/strong><\/td>\n                <td class=\"has-text-align-left\" data-align=\"left\">Doropo and Serra Grande<\/td>\n                <td class=\"has-text-align-right\" data-align=\"right\">(2.0)<\/td>\n            <\/tr>\n            <tr class=\"thick-rule\">\n                <td class=\"has-text-align-left\" data-align=\"left\"><\/td>\n                <td class=\"has-text-align-left\" data-align=\"left\"><strong>Sub-total<\/strong><\/td>\n                <td class=\"has-text-align-right\" data-align=\"right\"><strong>26.9<\/strong><\/td>\n            <\/tr>\n            <tr>\n                <td class=\"has-text-align-left\" data-align=\"left\"><strong><mark\n                            style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-primary-color\">Notable\n                            additions<\/mark><\/strong><\/td>\n                <td class=\"has-text-align-left\" data-align=\"left\"><strong><mark\n                            style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-primary-color\">Due\n                            to:<\/mark><\/strong><\/td>\n                <td class=\"has-text-align-right\" data-align=\"right\"><\/td>\n            <\/tr>\n            <tr>\n                <td class=\"has-text-align-left\" data-align=\"left\">Arthur Gold Project<\/td>\n                <td class=\"has-text-align-left\" data-align=\"left\">The addition was due to the exploration drilling\n                    success at Merlin and the completion of the Pre-Feasibility Study (PFS) resulting in a first-time\n                    Merlin Mineral Reserve.<\/td>\n                <td class=\"has-text-align-right\" data-align=\"right\">4.9<\/td>\n            <\/tr>\n            <tr>\n                <td class=\"has-text-align-left\" data-align=\"left\">Geita<\/td>\n                <td class=\"has-text-align-left\" data-align=\"left\">The addition was due to ongoing exploration drilling\n                    success and an increase in gold price, offset partially by depletion and cost.<\/td>\n                <td class=\"has-text-align-right\" data-align=\"right\">1.3<\/td>\n            <\/tr>\n            <tr>\n                <td class=\"has-text-align-left\" data-align=\"left\">Kibali<\/td>\n                <td class=\"has-text-align-left\" data-align=\"left\">The addition was due to exploration drilling and an\n                    increase in gold price offset partially by depletion and cost.<\/td>\n                <td class=\"has-text-align-right\" data-align=\"right\">0.6<\/td>\n            <\/tr>\n            <tr>\n                <td class=\"has-text-align-left\" data-align=\"left\">Obuasi<\/td>\n                <td class=\"has-text-align-left\" data-align=\"left\">The addition was due to an increase in gold price and\n                    improvements from geological reinterpretation and validation offset partially by depletion and cost.\n                <\/td>\n                <td class=\"has-text-align-right\" data-align=\"right\">0.6<\/td>\n            <\/tr>\n            <tr>\n                <td class=\"has-text-align-left\" data-align=\"left\">Iduapriem<\/td>\n                <td class=\"has-text-align-left\" data-align=\"left\">The addition was due to primarily due to the inclusion\n                    of Block 4 as a result of exploration drilling and improved economic parameters offset partially by\n                    depletion.<\/td>\n                <td class=\"has-text-align-right\" data-align=\"right\">0.5<\/td>\n            <\/tr>\n            <tr>\n                <td class=\"has-text-align-left\" data-align=\"left\">AGA Minera\u00e7\u00e3o<\/td>\n                <td class=\"has-text-align-left\" data-align=\"left\">The addition was due to exploration drilling from the\n                    Cuiab\u00e1 HW gallery in the Main Orebody, geological model revisions at Lamego and an increase in gold\n                    price offset partially by depletion and cost at both Cuiab\u00e1 and Lamego.<\/td>\n                <td class=\"has-text-align-right\" data-align=\"right\">0.4<\/td>\n            <\/tr>\n            <tr>\n                <td class=\"has-text-align-left\" data-align=\"left\">Other<\/td>\n                <td class=\"has-text-align-left\" data-align=\"left\">Combined impact of additions less than 0.3Moz.<\/td>\n                <td class=\"has-text-align-right\" data-align=\"right\">1.3<\/td>\n            <\/tr>\n            <tr class=\"thick-rule\">\n                <td class=\"has-text-align-left thick-rule\" data-align=\"left\"><\/td>\n                <td class=\"has-text-align-left thick-rule\" data-align=\"left\"><strong>Sub-total<\/strong><\/td>\n                <td class=\"has-text-align-right thick-rule\" data-align=\"right\"><strong>36.5<\/strong><\/td>\n            <\/tr>\n            <tr>\n                <td class=\"has-text-align-left\" data-align=\"left\"><strong><mark\n                            style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-primary-color\">Notable reductions<\/mark><\/strong><\/td>\n                <td class=\"has-text-align-left\" data-align=\"left\"><strong><mark\n                            style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-primary-color\">Due to:<\/mark><\/strong><\/td>\n                <td class=\"has-text-align-right\" data-align=\"right\"><\/td>\n            <\/tr>\n            <tr class=\"thick-rule\">\n                <td class=\"has-text-align-left thick-rule\" data-align=\"left\">Other<\/td>\n                <td class=\"has-text-align-left thick-rule\" data-align=\"left\">None<\/td>\n                <td class=\"has-text-align-right thick-rule\" data-align=\"right\">\u2014<\/td>\n            <\/tr>\n            <tr class=\"shade\">\n                <td class=\"has-text-align-left\" colspan=\"2\" data-align=\"left\"><strong>Mineral Reserve at 31 December 2025<\/strong>\n                <\/td>\n                <td class=\"has-text-align-right\" data-align=\"right\"><strong>36.5<\/strong><\/td>\n            <\/tr>\n        <\/tbody>\n    <\/table>\n<\/figure>\n<\/div>\n\n\n\n<div class=\"wp-block-group is-style-glassmorphic is-layout-flow wp-block-group-is-layout-flow\" style=\"padding-top:var(--wp--preset--spacing--30);padding-right:var(--wp--preset--spacing--30);padding-bottom:var(--wp--preset--spacing--30);padding-left:var(--wp--preset--spacing--30)\">\n<h3 class=\"wp-block-heading has-primary-color has-text-color has-link-color wp-elements-83ea7e65c281d2108c77f32b4619e8c6\">Copper<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The AngloGold Ashanti copper Mineral Reserve remained unchanged at 1.47Mt (3,250Mlb) at 31 December 2025 as compared to 31\nDecember 2024, as a feasibility study optimisation is ongoing and no additional exploration has been completed at Quebradona.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The copper Mineral Reserve at 31 December 2025 was estimated using a copper price of $3.10\/lb (2024: $2.90\/lb).<\/p>\n\n\n\n<h4 class=\"wp-block-heading has-foreground-color has-text-color has-link-color wp-elements-e91eef1569db1a3e6903d28b78db638a\">Year-on-year changes<\/h4>\n\n\n\n<figure class=\"wp-block-table is-style-numeric-table\">\n    <table>\n        <thead>\n            <tr>\n                <th class=\"has-text-align-left\" data-align=\"left\"><\/th>\n                <th class=\"has-text-align-left\" data-align=\"left\"><\/th>\n                <th class=\"has-text-align-right has-background-color has-teal-shade-background-color has-text-color has-background\" data-align=\"right\">Mlb<\/th>\n            <\/tr>\n        <\/thead>\n        <tbody>\n            <tr class=\"thick-rule\">\n                <td class=\"has-text-align-left\" colspan=\"2\" data-align=\"left\"><strong>Mineral Reserve at 31 December 2024<\/strong>\n                <\/td>\n\n                <td class=\"has-text-align-right\" data-align=\"right\"><strong>3,250<\/strong><\/td>\n            <\/tr>\n            <tr>\n                <td class=\"has-text-align-left\" data-align=\"left\"><strong><mark\n                            style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-primary-color\">No\n                            changes<\/mark><\/strong><\/td>\n                <td class=\"has-text-align-left\" data-align=\"left\"><strong><mark\n                            style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-primary-color\">Due\n                            to:<\/mark><\/strong><\/td>\n                <td class=\"has-text-align-right\" data-align=\"right\"><\/td>\n            <\/tr>\n            <tr class=\"thick-rule\">\n                <td class=\"has-text-align-left\" data-align=\"left\">Quebradona<\/td>\n                <td class=\"has-text-align-left\" data-align=\"left\">The optimisation of the feasibility study is ongoing\n                    and no additional exploration has been completed.<\/td>\n                <td class=\"has-text-align-right\" data-align=\"right\">\u2014<\/td>\n            <\/tr>\n            <tr class=\"shade\">\n                <td class=\"has-text-align-left\" colspan=\"2\" data-align=\"left\"><strong>Mineral Reserve at 31 December 2025<\/strong>\n                <\/td>\n                <td class=\"has-text-align-right\" data-align=\"right\"><strong>3,250<\/strong><\/td>\n            <\/tr>\n        <\/tbody>\n    <\/table>\n<\/figure>\n<\/div>\n\n\n\n<div class=\"wp-block-group is-style-glassmorphic is-layout-flow wp-block-group-is-layout-flow\" style=\"padding-top:var(--wp--preset--spacing--30);padding-right:var(--wp--preset--spacing--30);padding-bottom:var(--wp--preset--spacing--30);padding-left:var(--wp--preset--spacing--30)\">\n<h3 class=\"wp-block-heading has-primary-color has-text-color has-link-color wp-elements-b987f5996cd970092578c1784ee59cbd\">By-products<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Several by-products are expected to be recovered as a result of processing of the gold Mineral Reserve and copper Mineral Reserve. These\ninclude 0.26Mt of sulphur from Brazil, 18.37Moz of silver from Argentina, 28.11Moz of silver from Colombia and 11.36Moz of silver from\nNevada, USA. Molybdenum, at present, is not planned for recovery at Quebradona. The Quebradona process plant has been designed to treat\nunderground ore and to produce copper concentrate with provision of space in the plant site for a molybdenum plant in the future.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<div class=\"wp-block-group alignwide intersection is-nowrap is-layout-flex wp-container-core-group-is-layout-38250f08 wp-block-group-is-layout-flex\" id=\"qualified-persons\" style=\"margin-top:var(--wp--preset--spacing--50);margin-bottom:var(--wp--preset--spacing--50)\" data-aos=\"fade\" data-aos-delay=\"100\" data-aos-duration=\"600\">\n<h2 class=\"wp-block-heading\">Qualified persons<\/h2>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-primary-color has-alpha-channel-opacity has-primary-background-color has-background is-style-default wp-container-content-9cfa9a5a\"\/>\n<\/div>\n\n\n\n<section class=\"wp-block-group alignfull intersection has-global-padding is-layout-constrained wp-container-core-group-is-layout-dc862a90 wp-block-group-is-layout-constrained\" id=\"qualified-persons-content\" style=\"min-height:60vh;margin-top:var(--wp--preset--spacing--60);margin-bottom:var(--wp--preset--spacing--60);padding-right:var(--wp--preset--spacing--50);padding-left:var(--wp--preset--spacing--50)\" data-aos=\"fade\" data-aos-delay=\"100\" data-aos-duration=\"600\">\n<div class=\"wp-block-group alignwide has-global-padding is-content-justification-left is-layout-constrained wp-container-core-group-is-layout-8856514c wp-block-group-is-layout-constrained\" style=\"margin-top:var(--wp--preset--spacing--40);margin-bottom:var(--wp--preset--spacing--40);padding-right:var(--wp--preset--spacing--40);padding-left:var(--wp--preset--spacing--40)\">\n<div class=\"wp-block-group has-global-padding is-layout-constrained wp-container-core-group-is-layout-ff6a5ba3 wp-block-group-is-layout-constrained\" style=\"padding-right:var(--wp--preset--spacing--30);padding-left:var(--wp--preset--spacing--30)\">\n<p class=\"has-foreground-color has-text-color has-link-color has-medium-font-size wp-elements-6e739fd97053243f7c0b849db9c0329b wp-block-paragraph\" style=\"font-style:normal;font-weight:500;letter-spacing:2px;line-height:1.2\">The information in this report relating to Mineral Resource and Mineral Reserve on AngloGold Ashanti\u2019s material properties is based on information compiled by, or under the supervision of, Qualified Persons, as defined in Regulation S-K 1300. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">All Qualified Persons, unless otherwise stated, were employed by AngloGold Ashanti at the time of preparing the Technical Report Summaries in respect of AngloGold Ashanti\u2019s material properties which are filed as exhibits to the Company\u2019s annual report on Form 20-F for the financial year ended 31 December 2025. However, the Qualified Persons who provided the information for the Technical Report Summary (current at 31 December 2025) in respect of Kibali, Richard Peattie and Derek Holm are employed by Barrick. Both Richard Peattie and Derek Holm have consented to the inclusion of the Mineral Resource and Mineral Reserve in respect of Kibali included in this report.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">AngloGold Ashanti has internal controls for documenting the information supporting the Mineral Resource and Mineral Reserve estimates, describing the methods used and ensuring the validity of the estimates. Information that is utilised to compile the Mineral Resource and Mineral Reserve in the Company\u2019s annual report on Form 20-F for the financial year ended 31 December 2025 is prepared and reviewed by the relevant Qualified Persons at each property. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">All Qualified Persons have sufficient experience relevant to the style of mineralisation and the type of deposit under consideration, and relevant to the activity which they are undertaking. AngloGold Ashanti has recognised that in preparing the information with respect to Kibali, the Mineral Resource and Mineral Reserve were prepared through the Kibali joint venture\u2019s estimation and governance processes and under the supervision of Barrick\u2019s Qualified Persons. The legal tenure of each material property has been verified to the satisfaction of the accountable Qualified Person and all of the Mineral Reserve has been confirmed to be covered by the required mining permits or there exists a realistic expectation that these permits will be issued. The Qualified Persons have provided consent to the inclusion of the Mineral Resource and Mineral Reserve information in this report in the form and context in which it appears. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Company has a tiered internal review process whereby the Mineral Resource and Mineral Reserve is reviewed by the Qualified Persons at a regional level, before review at the corporate level prior to publication. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Accordingly, the Chairperson of the RRLT, Tarryn Flitton, Vice President Resource and Reserve, Master of Engineering (Mining), Bachelor of Science (Honours, Geology), SME RM, Pr.Sci.Nat (SACNASP), FGSSA, assumes responsibility for the Mineral Resource and Mineral Reserve processes for AngloGold Ashanti. Tarryn Flitton has 24 years\u2019 experience in mining with 13 years directly leading and managing Mineral Resource and Mineral Reserve reporting. She is employed full-time by AngloGold Ashanti and can be contacted at the following address: 6363 S. Fiddlers Green Circle, Suite 1000, Greenwood Village, CO 80111, United States. Tarryn Flitton consents to the inclusion of the Mineral Resource and Mineral Reserve information in this report, in the form and context in which it appears in the narrative disclosure.<\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-group alignwide is-style-glassmorphic is-layout-flow wp-block-group-is-layout-flow\" style=\"margin-top:var(--wp--preset--spacing--40);margin-bottom:var(--wp--preset--spacing--40);padding-top:var(--wp--preset--spacing--30);padding-right:var(--wp--preset--spacing--30);padding-bottom:var(--wp--preset--spacing--30);padding-left:var(--wp--preset--spacing--30)\">\n<h3 class=\"wp-block-heading has-primary-color has-text-color has-link-color wp-elements-da21087df91d35d229467b82f6569bf1\">Qualified Persons in respect of the material properties<\/h3>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table><thead><tr><th class=\"has-text-align-left\" data-align=\"left\">Responsibility<\/th><th class=\"has-text-align-left\" data-align=\"left\">Qualified Person<\/th><th class=\"has-text-align-left\" data-align=\"left\">Professional organisation<\/th><th class=\"has-text-align-left\" data-align=\"left\">Membership number<\/th><th class=\"has-text-align-left\" data-align=\"left\">Relevant experience<\/th><th class=\"has-text-align-left\" data-align=\"left\">Qualification<\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-left\" data-align=\"left\">Kibali Mineral Resource and Mineral Reserve<\/td><td class=\"has-text-align-left\" data-align=\"left\">Richard Peattie<sup> (1)<\/sup><\/td><td class=\"has-text-align-left\" data-align=\"left\">FAusIMM<\/td><td class=\"has-text-align-left\" data-align=\"left\">301029<\/td><td class=\"has-text-align-left\" data-align=\"left\">29 years<\/td><td class=\"has-text-align-left\" data-align=\"left\">MPhil (Geostatistics)<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Kibali Mineral Reserve<\/td><td class=\"has-text-align-left\" data-align=\"left\">Derek Holm<sup> (1)<\/sup><\/td><td class=\"has-text-align-left\" data-align=\"left\">FAusIMM<\/td><td class=\"has-text-align-left\" data-align=\"left\">3138099<\/td><td class=\"has-text-align-left\" data-align=\"left\">25 years<\/td><td class=\"has-text-align-left\" data-align=\"left\">BSc Hons (Mining Engineering)<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Obuasi Mineral Resource<\/td><td class=\"has-text-align-left\" data-align=\"left\">Eric Kofi Owusu Acheampong<\/td><td class=\"has-text-align-left\" data-align=\"left\">MAusIMM (CP)<\/td><td class=\"has-text-align-left\" data-align=\"left\">220644<\/td><td class=\"has-text-align-left\" data-align=\"left\">28 years<\/td><td class=\"has-text-align-left\" data-align=\"left\">MSc (Mineral Resource Evaluation), BSc (Geological Engineering)<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Obuasi Mineral Reserve<\/td><td class=\"has-text-align-left\" data-align=\"left\">Douglas Atanga<\/td><td class=\"has-text-align-left\" data-align=\"left\">SME RM<\/td><td class=\"has-text-align-left\" data-align=\"left\">5282632<\/td><td class=\"has-text-align-left\" data-align=\"left\">17 years<\/td><td class=\"has-text-align-left\" data-align=\"left\">BSc (Mining Engineering)<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Geita Mineral Resource<\/td><td class=\"has-text-align-left\" data-align=\"left\">Janeth Luponelo<\/td><td class=\"has-text-align-left\" data-align=\"left\">SME RM<\/td><td class=\"has-text-align-left\" data-align=\"left\">5345424<\/td><td class=\"has-text-align-left\" data-align=\"left\">25 years<\/td><td class=\"has-text-align-left\" data-align=\"left\">MEng (Mining Engineering), Bachelor in Mineral Sciences<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Geita Mineral Reserve<\/td><td class=\"has-text-align-left\" data-align=\"left\">Duan Campbell<\/td><td class=\"has-text-align-left\" data-align=\"left\">Pr. Eng<\/td><td class=\"has-text-align-left\" data-align=\"left\">202101953<\/td><td class=\"has-text-align-left\" data-align=\"left\">23 years<\/td><td class=\"has-text-align-left\" data-align=\"left\">BEng (Mining)<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Sukari Mineral Resource<\/td><td class=\"has-text-align-left\" data-align=\"left\">Doxel Mutunda<\/td><td class=\"has-text-align-left\" data-align=\"left\">MAIG <\/td><td class=\"has-text-align-left\" data-align=\"left\">8063<\/td><td class=\"has-text-align-left\" data-align=\"left\">12 years<\/td><td class=\"has-text-align-left\" data-align=\"left\">BSc (Geological Engineering, Exploration and Mining)<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Sukari Mineral Reserve (underground)<\/td><td class=\"has-text-align-left\" data-align=\"left\">Mahmoud<br>Abdelmonem<\/td><td class=\"has-text-align-left\" data-align=\"left\">MIMMM QMR<\/td><td class=\"has-text-align-left\" data-align=\"left\">703310<\/td><td class=\"has-text-align-left\" data-align=\"left\">8 years<\/td><td class=\"has-text-align-left\" data-align=\"left\">BSc (Mining Engineering)<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Sukari Mineral Reserve (open pit)<\/td><td class=\"has-text-align-left\" data-align=\"left\">Sherif Moemen<\/td><td class=\"has-text-align-left\" data-align=\"left\">MAusIMM (CP)<\/td><td class=\"has-text-align-left\" data-align=\"left\">3152447<\/td><td class=\"has-text-align-left\" data-align=\"left\">6 years<\/td><td class=\"has-text-align-left\" data-align=\"left\">BSc (Mining Engineering)<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Arthur Gold Project Mineral Resource<\/td><td class=\"has-text-align-left\" data-align=\"left\">Geoffrey Gush\u00e9e<\/td><td class=\"has-text-align-left\" data-align=\"left\">FAusIMM<\/td><td class=\"has-text-align-left\" data-align=\"left\">207957<\/td><td class=\"has-text-align-left\" data-align=\"left\">37 years<\/td><td class=\"has-text-align-left\" data-align=\"left\">MEng (Mineral Resource Management)<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Arthur Gold Project Mineral Reserve<\/td><td class=\"has-text-align-left\" data-align=\"left\">Hamid Taghavi<\/td><td class=\"has-text-align-left\" data-align=\"left\">SME RM<\/td><td class=\"has-text-align-left\" data-align=\"left\">4184627<\/td><td class=\"has-text-align-left\" data-align=\"left\">23 years<\/td><td class=\"has-text-align-left\" data-align=\"left\">BEng (Mining Engineering)<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h6 class=\"wp-block-heading\"><em>Notes:<\/em><\/h6>\n\n\n\n<p class=\"has-small-font-size wp-block-paragraph\"><em>All Qualified Persons, unless otherwise stated, were employed by AngloGold Ashanti at the time of preparing the Technical Report Summaries in respect of AngloGold Ashanti\u2019s material properties.<\/em><\/p>\n\n\n\n<p style=\"position: relative; padding-left: 1em\" class=\"has-small-font-size\"><sup style=\"position: absolute; left:0\">(1)<\/sup><em>The Qualified Persons who provided the information for the Technical Report Summary (report current at 31 December 2025) in respect of the Kibali Mineral Resource and Mineral Reserve are employed by Barrick. Barrick is the operator of the Kibali joint venture.<\/em><\/p>\n<\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>2025 Mineral RESOURCE &amp; MINERAL RESERVE The Mineral Resource and Mineral Reserve at 31 December 2025 for AngloGold Ashanti are reported in accordance with the SEC mining property disclosure requirements set forth in Regulation S-K 1300. The reporting criteria, as outlined in Regulation S-K 1300, have been used in the preparation of internal documentation for [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":4,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"class_list":["post-16","page","type-page","status-publish","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>2025 Mineral Resource and Mineral Reserve Report | Report Suite 2025<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/reports.anglogoldashanti.com\/25\/rr\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"2025 Mineral Resource and Mineral Reserve Report | Report Suite 2025\" \/>\n<meta property=\"og:description\" content=\"2025 Mineral RESOURCE &amp; MINERAL RESERVE The Mineral Resource and Mineral Reserve at 31 December 2025 for AngloGold Ashanti are reported in accordance with the SEC mining property disclosure requirements set forth in Regulation S-K 1300. 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