AU AngloGold Ashanti Ltd

False31 March 20212021Q131 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			UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 or 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 Report on Form 6-K dated May 10, 2021 This Report on Form 6-K shall be incorporated by reference in our Shelf Registration Statement on Form F-3 as amended (File No. 333-230651) and our Registration Statement on Form S-8 as amended (File No. 333-113789), to the extent not superseded by documents or reports subsequently filed by us under the Securities Act of 1933 or the Securities Exchange Act of 1934, in each case as amended Commission File Number: 001-14846 AngloGold Ashanti Limited (Name of registrant) 76 Rahima Moosa Street Newtown, Johannesburg, 2001 (P.O. Box 62117, Marshalltown, 2107) South Africa (Address of principal executive offices) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: Form 20-F: ý Form 40-F: q Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): Yes: q No: ý Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): Yes: q No: ý Enclosures: Unaudited condensed consolidated financial statements as of March 31, 2021 and 2020 and for each of the three-month periods ended March 31, 2021 and 2020, prepared in accordance with IFRS, and related management’s discussion.

AngloGold Ashanti Limited

(Incorporated in the Republic of South Africa)

Reg. No. 1944/017354/06

ISIN. ZAE000043485 – JSE share code: ANG

CUSIP: 035128206 – NYSE share code: AU

(“AngloGold Ashanti” or “AGA” or the “Company”)

Report for the three months ended 31 March 2021

Johannesburg, 10 May 2021 - AngloGold Ashanti is pleased to provide its financial and operational update for the three-month period ended 31 March 2021.

•Production of 588,000oz in Q1 2021, supported by solid production performances at AGA Mineração, Serra Grande, Obuasi and Siguiri

•Costs increased due to planned reinvestment and tailings compliance programme, COVID-19 impacts, drawdowns from low-grade stockpiles and inflation

•Obuasi production increased by 53% to 46,000oz in Q1 2021 from 30,000oz in Q4 2020 and total cash costs at Obuasi decreased by 15% to $968/oz in Q1 2021 from $1,145/oz in Q4 2020 ; Phase 1 and 2 of the Obuasi Redevelopment Project at 97% completion

•Profit before taxation increased by 21% year-on-year to $279m in Q1 2021 from $231m in Q1 2020

•Adjusted EBITDA increased 3% year-on-year to $449m in Q1 2021 from $434m in Q1 2020

•Total borrowings decreased by 43% year-on-year from $3,624m in Q1 2020 to $2,071m in Q1 2021

•Adjusted net debt declined by 43% year-on-year from $1,606m in Q1 2020 to $908m in Q1 2021

•Adjusted net debt to Adjusted EBITDA ratio (for purposes of our RCF financial maintenance covenants) improved from 0.93 times at 31 March 2020 to 0.37 times at 31 March 2021

•Basic earnings for the period ended 31 March 2021 were $203m, or 48 US cents per share, compared to $134m, or 32 US cents per share in Q1 2020

•Headline earnings for Q1 2021 were $203m, or 48 US cents per share, compared to $143m, or 34 US cents per share in Q1 2020

•One fatality during Q1 2021 involving a fall-of-ground incident at Serra Grande

						Quarter			Quarter			Year
						ended			ended			ended
						Mar			Mar			Dec
						2021			2020			2020
						US Dollar / Imperial
Operating review
Gold
Produced *			- oz (000)			588			630			2,806
Sold *			- oz (000)			608			651			2,834
Financial review
Gold income			- $m			956			882			4,322
Cost of sales			- $m			677			636			2,699
Total cash costs			- $m			562			455			2,074
Gross profit			- $m			302			256			1,709
Price received per ounce **			- $/oz			1,788			1,584			1,778
Cost of sales - Subsidiaries			- $m			677			636			2,699
Cost of sales - Joint Ventures			- $m			87			76			340
All-in sustaining costs per ounce - Subsidiaries **			- $/oz			1,351			1,063			1,072
All-in sustaining costs per ounce - Joint Ventures **			- $/oz			895			763			810
All-in costs per ounce - Subsidiaries **			- $/oz			1,536			1,296			1,240
All-in costs per ounce - Joint Ventures **			- $/oz			—			704			824
Total cash costs per ounce - Subsidiaries **			- $/oz			1,045			806			815
Total cash costs per ounce - Joint Ventures **			- $/oz			733			583			629
Profit before taxation			- $m			279			231			1,589
Adjusted EBITDA **			- $m			449			434			2,470
Total borrowings			- $m			2,071			3,624			2,084
Adjusted net debt **			- $m			908			1,606			597
Profit (loss) attributable to equity shareholders			- $m			203			134			946
			- US cents/share			48			32			225
Headline earnings			- $m			203			143			1,000
			- US cents/share			48			34			238
Net cash inflow from operating activities			- $m			149			174			1,545
Capital expenditure			- $m			210			186			757
* Including pre-production ounces at Obuasi in the same period in the prior year.
** Refer to "Non-GAAP disclosure" for definitions.
$ represents US Dollar, unless otherwise stated.			Rounding of figures may result in computational discrepancies.

The information on this page and in the Financial and Operating Report relates to the continuing operations of the AngloGold Ashanti group, unless otherwise indicated. The South African producing assets and related liabilities, which were sold on 30 September 2020, are recorded as discontinued operations. The Non-GAAP disclosures on pages 31 - 61 following the market update with financial information for the three months ended 31 March 2021 are based on the continuing operations of the AngloGold Ashanti group, where indicated.

(3) Refer to "Non-GAAP disclosure" for definitions.

SAFETY UPDATE

Regrettably, one fatality occurred in February 2021 when a miner at the Serra Grande mine in Brazil was fatally injured in a fall-of-ground related incident during blasting preparation activities. Following a thorough review of the incident, corrective measures have been put in place.

The All-injury frequency rate (AIFR) based on continuing operations, the broadest measure of workplace safety, for the group has deteriorated with 2.64 injuries per million hours worked for the quarter ended 31 March 2021, compared to 1.24 injuries per million hours worked in the first quarter of 2020. These incidents are mainly low consequence incidents, which is reflected in the severity rate that has showed a consistent downward trend over the last three quarters. More specifically, in Brazil, the recent COVID-19 wave complexity adds a layer of risk on the safety protocols in the business. Action plans to address the upward trend in the abovementioned areas are in place at an operational level.

COVID-19

AngloGold Ashanti continues to respond to the evolving COVID-19 pandemic while contributing to the global effort to stop the spread of the virus and provide public health and economic relief to local communities. The Company has taken a number of proactive steps to protect employees, host communities and the business itself. These steps have been in line with the Company's values, the requirements of the countries in which we operate, and guidelines provided by the World Health Organisation (WHO). The health and well-being of our employees and our host communities remains a key priority for us.

Multiple waves of the outbreak are being experienced in several of our operating jurisdictions, coinciding with the prevalence of new, more contagious variants of the virus. Continued diligence is being observed to strict health protocols and vigilance in relation to business continuity including supply chain. We remain mindful that the COVID-19 pandemic, its impacts on communities and economies, and the actions authorities may take in response to it, are subject to change.

During the first quarter of 2021, our Brazilian operations and the Obuasi mine were most affected as new variants of the virus caused greater community infections, leading to an increase in general absenteeism and the number of employees in quarantine and isolation, with a consequent impact on productivity at those operations. While infection rates in Brazil and Ghana have since declined from those recent peaks, the number of cases in Brazil – and in several other countries in South America – remains high. In addition, Cerro Vanguardia continues to operate at between 60% to 80% mining capacity due to ongoing inter-provincial travel restrictions in Argentina, which continues to prevent certain employees from travelling to the site.

Access to vaccines is currently limited to national health authorities and the countries where AngloGold Ashanti operates, and have started with their first phase of roll-out programmes. Our operations in Ghana and Guinea have been included in the first phase roll-out plans. At the end of March, in Ghana, Obuasi and Iduapriem have already administered first doses covering 33% and 67% of the workforce respectively. Siguiri has also administered first doses covering 33% of the workforce and 100% coverage of identified high risk individuals. We continue to monitor developments in this regard, both locally and across the jurisdictions that we operate in, as well as continue to implement and strengthen controls onsite and at communities.

The impact on production from COVID-19 in the first quarter of 2021 was estimated at 4,000oz, compared to an estimated impact of 8,000oz in the first quarter of 2020. The COVID-19 impact on AISC in the first quarter of 2021 was estimated at $29/oz (about 2%) (including $23/oz related to costs incurred and $6/oz related to lost production), compared to an estimated impact of $14/oz during the first quarter of 2020. Consumable inventory levels were increased at certain operations to mitigate potential supply chain challenges resulting from the pandemic. In addition, it contributed to delays at Obuasi mainly in respect of mining.

OPERATING HIGHLIGHTS

African Operations

In the Africa region, subsidiaries produced 266,000oz (excluding pre-production ounces) at a cost of sales of $344m and a total cash cost per ounce of $1,018/oz for the three months ended 31 March 2021, compared to 250,000oz (excluding pre-production ounces) at a cost of sales of $289m and a total cash cost per ounce of $765/oz for the three months ended 31 March 2020. Joint ventures produced 86,000oz at a cost of sales of $87m and a total cash cost per ounce of $733/oz for the three months ended 31 March 2021, compared to 91,000oz at a cost of sales of $76m and a total cash cost per ounce of $583/oz for the three months ended 31 March 2020.

In Ghana, Iduapriem’s production decreased by 19,000oz, or 28%, to 48,000oz at a cost of sales of $61m and a total cash cost per ounce of $1,115/oz for the three months ended 31 March 2021, compared to 67,000oz at a cost of sales of $75m and a total cash cost per ounce of $689/oz for the three months ended 31 March 2020. The decrease in production was a result of lower tonnes treated together with a 26% drop in recovered grades in the first quarter of 2021 due to depletion of Teberebie Cut 1 ore. Cost of sales decreased mainly as a result of lower stripping amortisation at Teberebie Cut 1 and Cut 3 and a decrease in royalties due to lower volumes sold, partly offset by an increase in reagent, fuel and labour costs. Total cash costs per ounce increased in line with decreased production and increased drawdowns in ore stockpiles, as well as due to inflationary increases in relation to reagent, fuel and labour costs. These increases were partially offset by a decrease in royalties as a result of lower volumes sold.

Obuasi's production has continued to ramp up since achieving commercial level of production on 1 October 2020, Obuasi produced 46,000oz at a cost of sales of $66m and a total cash cost per ounce of $968/oz for the three months ended 31 March 2021, compared to a production of 30,000oz at a cost of sales of $66m and a total cash cost of $1,145/oz in the fourth quarter of 2020. This increase in production was mainly driven by higher throughput and improvement in grade as the mine continued its transition into Phase 2 of commissioning. The Obuasi mine was not in commercial production during the first quarter of last year when there was pre-production of 19,000oz.

In the DRC, Kibali's production decreased by 5,000oz, or 5%, to 86,000oz at a cost of sales of $87m and a total cash cost per ounce of $733/oz for the three months ended 31 March 2021, compared to 91,000oz at a cost of sales of $76m and a total cash cost per ounce of $583/oz for the three months ended 31 March 2020. Despite an increase in tonnes treated, production declined as a result of an 11% drop in grade as lower grades were mined from the open pits compared to the first quarter of 2020. Cost of sales increased mainly due to higher ore

stockpile costs as a result of a drawdown in the stockpiles to compensate for the lower grades mined as well as higher fuel and labour costs. Total cash costs per ounce increased in the first quarter of 2021 due to lower production and increased ore stockpile costs as a result of a drawdown in the stockpiles to compensate for the lower grades mined.

In Guinea, Siguiri's production increased by 10,000oz, or 21%, to 58,000oz at a cost of sales of $89m and a total cash cost per ounce of $1,197/oz for the three months ended 31 March 2021, compared to 48,000oz at a cost of sales of $74m and a total cash cost per ounce of $1,183/oz for the three months ended 31 March 2020. The higher production was primarily due to an increase in recovered grades from improved plant recoveries due to CIL conversion during the last quarter of 2020, and higher-grade ore mined in the first quarter of 2021. Cost of sales increased mainly as a result of higher inventory movements and higher royalties paid resulting from higher gold price and additional volumes sold in the first quarter of 2021, partly offset by lower rehabilitation provision cost due to changes in cash flows and inflation and discount rates used in calculating rehabilitation and other non-cash costs compared to the same period in 2020. Total cash costs per ounce came in 1% higher year-on-year as lower operating costs were more than offset by inflationary pressures, metal inventory movements and higher royalties resulting from higher gold price and additional volumes sold in the first quarter of 2021.

In Tanzania, Geita's production decreased by 21,000oz, or 15%, to 114,000oz at a cost of sales of $128m and a total cash cost per ounce of $907/oz for the three months ended 31 March 2021, compared to 135,000oz at a cost of sales of $140m and a total cash cost per ounce of $657/oz for the three months ended 31 March 2020. Tonnes treated were lower due to the SAG mill reline and pinion alignment. This decrease in production was further impacted by a 10% decrease in grade, resulting from lower-grade ore mined from the underground operations. Cost of sales decreased mainly as a result of lower amortisation due to depletion of open pit mining with lower ore mined, lower inventory movements, lower labour and contractor costs as well as lower fuel cost due to cessation of open pit mining in the first quarter of 2021, partly offset by higher ore stockpile movements. Higher total cash costs per ounce for the period were driven by additional ore stockpile costs due to depletion of stockpiles in the first quarter of 2021 compared to an increase of stockpile in the same period last year, as well as inflationary pressures. The increase in total cash costs was partially offset by lower mining costs as a result of cessation of open pit mining in the first quarter of 2021, together with a decrease in royalties as a result of lower gold volumes sold.

International Operations

The Americas region production declined by 8,000oz, or 6%, to 132,000oz at a cost of sales of $168m and a total cash cost per ounce of $874/oz for the three months ended 31 March 2021, compared to 140,000oz at a cost of sales of $194m and a total cash cost per ounce of $829/oz for the three months ended 31 March 2020.

In Brazil, at AngloGold Ashanti Mineração, production increased by 1,000oz, or 1%, to 78,000oz at a cost of sales of $91m and a total cash cost per ounce of $827/oz for the three months ended 31 March 2021, compared to 77,000oz at a cost of sales of $101m and a total cash cost per ounce of $834/oz for the three months ended 31 March 2020. Production was adversely impacted by low grades in both mine complexes, despite the increase in tonnes of ore mined. Cost of sales decreased mainly as a result of lower rehabilitation provision cost due to changes in cash flows and inflation and discount rates used in calculating rehabilitation and other non-cash costs compared to the same period in 2020 as well as a favourable movement in the exchange rate of the Brazilian Real against the US Dollar, partly offset by increased operational costs for spare parts and equipment rental as well as increased mine contractor costs. Total cash cost for the first quarter of 2021 was lower year-on-year due to increased production and the favourable movement in the exchange rate of the Brazilian Real against the US Dollar. This decrease was partially offset by lower grades and increased operational costs for spare parts and equipment rental as well as increased mine contractor costs.

Serra Grande production increased by 2,000oz, or 11%, to 20,000oz at a cost of sales of $23m and a total cash cost per ounce of $941/oz for the three months ended 31 March 2021, compared to 18,000oz at a cost of sales of $26m and a total cash cost per ounce of $993/oz for the three months ended 31 March 2020. The 11% increase in production reflected higher grades and the success of the changes in the production strategy, notwithstanding the operational impacts of the fatality experienced in February 2021. Cost of sales decreased mainly as a result of lower rehabilitation provision cost due to changes in cash flows and inflation and discount rates used in calculating rehabilitation and other non-cash costs compared to the same period in 2020, as well as a favourable movement in the exchange rate of the Brazilian Real against the US Dollar, partly offset by COVID-19 related costs. Total cash costs per ounce were 5% lower year-on-year, given the increased production and the favourable movement in the exchange rate of the Brazilian Real against the US Dollar, partly offset by negative COVID-19 impacts and inflationary pressures.

In Argentina, Cerro Vanguardia's production decreased by 11,000oz , or 24%, to 34,000oz at a cost of sales of $53m and a total cash cost per ounce of $928/oz for the three months ended 31 March 2021, compared to 45,000oz at a cost of sales of $67m and a total cash cost per ounce of $754/oz for the three months ended 31 March 2020. Production was lower year-on-year mainly due to lower grades as planned for the current year and in line with the life-of-mine plan which was further impacted by COVID-19 restrictions that continue to affect mine accessibility and limit our ability to operate the mine at full capacity. Unfavourable stockpile movements, caused by lower tonnes mined, also affected production negatively. Cost of sales decreased mainly as a result of lower rehabilitation provision cost due to changes in cash flows and inflation and discount rates used in calculating rehabilitation and other non-cash costs compared to the same period in 2020, as well as lower inventory movements and a weaker Argentinean Peso against the US Dollar, partly offset by salary increases implemented during July 2020 and January 2021 and higher heap-leach costs. Total cash costs per ounce were higher in the first quarter of 2021 compared to the same period last year mainly due to inflationary pressures (mainly salary increases) implemented during July 2020 and January 2021 and higher heap-leach costs. These negative effects on total cash costs were partially offset by a weaker Argentinean Peso against the US Dollar and higher by-product income derived from the higher average silver price.

The Australia region production decreased by 26,000oz, or 20%, to 104,000oz at a cost of sales of $167m and a total cash cost per ounce of $1,359/oz for the three months ended 31 March 2021, compared to 130,000oz at a cost of sales of $161m and a total cash cost per ounce of $923/oz for the three months ended 31 March 2020.

Sunrise Dam production decreased by 11,000oz, or 19%, to 46,000oz at a cost of sales of $84m and a total cash cost per ounce of $1,590/ oz for the three months ended 31 March 2021, compared to 57,000oz at a cost of sales of $74m and a total cash cost per ounce of $1,026/oz for the three months ended 31 March 2020. Production was lower year-on-year due to a combination of lower mill throughput, lower head grades and lower metallurgical recoveries related to the lower head grade. Cost of sales increased mainly as a result of ore stockpile movements, higher labour and contractor costs and higher engineering service costs, partly offset by lower rehabilitation provision cost due to changes in cash flows and inflation and discount rates used in calculating rehabilitation and other non-cash costs compared to the same period in 2020. Total cash costs per ounce were higher year-on-year primarily due to lower production, lower grades and ore

stockpiles as well as inflationary pressures. This increase was partially offset by favourable efficiencies partially due to a significantly higher amount of ore purchased in the first quarter of 2020.

Tropicana production decreased by 15,000oz, or 21%, to 58,000oz at a cost of sales of $75m and a total cash cost per ounce of $1,057/oz for the three months ended 31 March 2021, compared to 73,000oz at a cost of sales of $80m and a total cash cost per ounce of $753/oz for the three months ended 31 March 2020. Production decreased as increases in mill throughput and metallurgical recovery were more than offset by a 25% drop in the mill feed grade to 1.26 grams per tonne. Mill feed was supplemented by stockpile drawdowns while mining focused on waste removal in the Havana Stage 2 cutback. Cost of sales decreased mainly as a result of lower stripping amortisation due to depletion of different ore bodies and lower rehabilitation provision cost due to changes in cash flows and inflation and discount rates used in calculating rehabilitation and other non-cash costs compared to the same period in 2020, partly offset by higher labour and contractor costs, higher engineering service costs and ore stockpile movements. Total cash costs per ounce were negatively impacted by lower production, unfavourable inventory movement and inflationary pressures. The Boston Shaker underground mine remains on track to achieve full production levels by the end of 2021.

UPDATE ON CAPITAL PROJECTS

Obuasi Redevelopment Project

At Obuasi, operations continued to ramp up and Phase 1 gold production increased to 46,000oz during the first quarter of 2021, up from 30,000oz in the fourth quarter of 2020. AISC for the first quarter of 2021 was $1,234/oz.

Phase 2 of the redevelopment project is at an advanced stage, with construction of Phase 1 and 2 having reached 97% completion at the end of the first quarter of 2021. Commissioning of the Phase 2 milling circuit continued in early 2021 as planned, with final commissioning expected in the second quarter of 2021. The underground material handling system, paste-fill plant, the GCVS ventilation shaft and new high-voltage switchyard are expected to be completed by the end of the first half of 2021. The COVID-19 related equipment manufacturing and delivery delays we experienced in 2020 have now largely been addressed.

During the first quarter of 2021, the ramp-up of mining production continued to be impacted by absenteeism due to COVID-19 isolations, quarantines and travel restrictions. The Phase 2 ramp-up to 4,000 tonnes per day of ore mined and processed continues to progress during the second quarter of 2021, with full ramp-up expected in the third quarter of 2021.

Achieving optimal crew rotations, especially with respect to skilled expatriate workers (in particular, those based in Australia), continues to present a challenge for both the Company and its contractors amid the ongoing pandemic. This challenge is mainly caused by travel and other restrictions imposed by governments globally as well as the scarcity of skilled expatriate workers willing to travel internationally when presented with opportunities closer to home. The Company continues to take mitigating measures, including intensifying training programmes for local personnel, in line with our strategic localisation initiatives, and recruitment of skilled operators from across the African continent, to address such issues.

Sunrise Dam

Ore mining began in the Golden Delicious open pit during the first quarter of 2021 ahead of schedule. Higher grade open pit ore will begin to displace stockpiled mill feed in the second quarter of 2021, and will contribute 3m tonnes of ore over the next 18 months, lifting the overall mill head grade. The accelerated underground exploration programme is yielding encouraging results in the main mining front at Vogue and in areas outside thereof. Development is already being directed into the new Frankie zone, which is closer to the surface in the north of the mine, near existing infrastructure. This zone may have potential for higher grades at volumes that would sustain a separate mining area that can lower the overall cost base. Aggressive drilling is continuing to bring forward the delivery of ore from Frankie, and a small parcel of high grade ore is expected at the end of this year. Encouraging exploration results have highlighted the potential of the Carey zone and further extended Vogue, which remains open down plunge. Exploration is also targeting the area between the Carey Upper and Carey zones and the Flamingo and Eastern Ramps targets in the shallower areas of the mine. Operational Excellence work is focused on productivity improvements in the underground fleet and investigation of an option to mine high grade remnant ore in the Western Shear zone.

Colombian projects

Quebradona

At Quebradona, AngloGold Ashanti's wholly-owned project, the feasibility study (FS) continued to progress in the first quarter of 2021. The FS is expected to be completed in the first half of 2021. As part of the environmental permitting process, a public hearing will be required for the Quebradona project and confirmation on the date of the public hearing is pending.

The project is expected to treat approximately 6.2m tonnes of ore per annum in order to produce approximately 3.0bn pounds of copper and approximately 1.5Moz of gold over a potential 23-year life.

Gramalote

At Gramalote, based on a review of the FS results to date, the joint venture partners AngloGold Ashanti and B2Gold Corp. believe that there is strong potential for a more robust project, by releasing a number of technical constraints that were initially applied due to certain permit conditions and further optimising project design.

The project team has identified project optimisation opportunities, including potential reductions in capital and operating costs, as well as improved operability and sustainability. In addition, development and review of the updated Mineral Resource estimate has indicated that further value is available through additional drilling of the inferred portions of the Mineral Resource area, both within and adjacent to the designed pit.

The project partners are currently reviewing a revised feasibility study budget which would allow the final feasibility study to incorporate the identified optimisation potential and a decision is expected to be announced shortly. A revised schedule and budget for the proposed

optimisations, continued sustainability projects, further exploration and completion of a final feasibility study is being developed. In light of this, the delivery of a final FS for the Gramalote project will be postponed to the second quarter of 2022.

CORPORATE UPDATE

Notice in terms of Section 45(5)(a) of the South African Companies Act, No. 71 of 2008, as amended

Notice is hereby given in terms of Section 45(5)(a) of the Companies Act, No. 71 of 2008, as amended (the “Companies Act”), that the board of directors of the Company (the “Board”) at a meeting held on 7 May 2021, authorised the Company to provide direct or indirect financial assistance for the period from 7 May 2021 to 31 May 2022 to any one or more related or inter-related companies of the Company in terms of Section 45 of the Companies Act, pursuant to the authority granted to the Board for two years by the Company’s shareholders at the annual general meeting held on 4 May 2021.

The aggregate financial exposure of the Company in respect of any financial assistance in terms of this Board resolution is approximately R500m. Any financial assistance provided by the Company is to be provided in accordance with the Companies Act.

Tropicana Update

On 13 April 2021, IGO Limited, the Company’s current joint venture partner, announced it had entered into a binding agreement for the sale of its 30% interest in the Tropicana joint venture to Regis Resources for A$903m, subject to the Company waiving its right to pre-empt the Regis Resources offer on the same price and terms. AngloGold Ashanti, which owns 70% of the Tropicana joint venture and is the mine’s operator, subsequently decided to waive its pre-emptive right over the 30% stake in the Tropicana gold mine, paving the way for Regis Resources to acquire the stake from IGO Limited.

Tanzania Arbitration Proceedings Update

On 13 July 2017, Geita Gold Mining Limited and Samax Resources Limited initiated arbitration against the government of Tanzania arising from the enactment by the government of certain legislation that purports to make a number of changes to the operating environment of Tanzania’s extractive industries, including mining. Since January 2019, the arbitral proceedings have been stayed several times in order to afford the parties the opportunity to achieve an amicable resolution of the dispute. On 7 May 2021 the parties concluded a standstill agreement in terms of which the parties have agreed to further stay the arbitration proceedings for a period of 18 months.

Ghana Arbitration Proceedings Update

On 11 October 2011, AngloGold Ashanti (Ghana) Limited (AGAG) terminated Mining and Building Contractors Limited’s (MBC) underground development agreement, construction on bulkheads agreement and diamond drilling agreement at Obuasi mine. The parties reached agreement on the terms of the separation and concluded a separation agreement in November 2012. In February 2014, AGAG was served with a demand issued by MBC claiming a total of $97m. In December 2015, the proceedings were stayed in the High Court pending arbitration. In February 2016, MBC submitted the matter to arbitration. The arbitration panel was constituted and held an arbitration management meeting to address initial procedural matters in July 2019. In May 2020, the Ghana Arbitration Centre granted MBC’s request to stay the arbitral proceedings indefinitely to enable it and AGAG to explore possible settlement. On 12 April 2021, the parties executed a settlement agreement to resolve the matter.

(1) Calculated on the basic weighted average number of ordinary shares.

(2) Calculated on the diluted weighted average number of ordinary shares.

The financial statements for the three months ended 31 March 2021 have been prepared by the corporate accounting staff of AngloGold Ashanti Limited headed by Ms. Alexandra Strobl (CA (SA)), the Group's VP: Finance. This process was supervised by Mr. Ian Kramer (CA (SA)), the Group's Interim Chief Financial Officer and Ms. Kandimathie Christine Ramon (CA (SA)), the Group's Interim Chief Executive Officer.

will not be reclassified subsequently to profit or loss. Refer to note 15.

(1) Foreign currency translation reserve includes a loss of $1,393m (Dec 2020: $1,396m; Mar 2020: $1,436m) that will not re-cycle through the Income statement on disposal of non-foreign operations, and a gain of $4m (Dec 2020: $9m; Mar 2020: $100m loss) relating to foreign operations that will re-cycle through the Income statement on disposal.

Segmental reporting

AngloGold Ashanti’s operating segments are being reported based on the financial information provided to the Chief Executive Officer and the Executive Committee, collectively identified as the Chief Operating Decision Maker (CODM). Individual members of the Executive Committee are responsible for geographic regions of the business.