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ANGLOGOLD ASHANTI LIMITED - Report for the quarter & nine months ended 30 Sept 2012

Date : 11/08/2012 @ 12:30PM
Source : PR Newswire (US)
Stock : Anglogold Ashanti Ltd (AU)
Quote : 13.1  -0.15 (-1.13%) @ 2:51AM
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ANGLOGOLD ASHANTI LIMITED - Report for the quarter & nine months ended 30 Sept 2012

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ANGLOGOLD ASHANTI LIMITED - Report for the quarter & nine months ended 30 Sept 2012

ANGLOGOLD ASHANTI LIMITED

Registration No. 1944/017354/06

Incorporated in the Republic of South Africa

Share codes:

ISIN: ZAE000043485

  JSE:            ANG
                     
  LSE:            AGD
                     
  NYSE:           AU 
                     
  ASX:            AGG
                     
  GhSE (Shares):  AGA
                     
  GhSE (GhDS):    AAD
                     

Report for the quarter and nine months ended 30 September 2012

Group results for the quarter…

- Gold production of 1.03Moz, lower-than-anticipated production from South Africa and Obuasi.

- Total cash costs of $866/oz, compared with guidance of $835/oz to $865/oz.

- Adjusted headline earnings of $235m, or 61 US cents a share.

- Quarterly dividend declared of 50 South African cents per share (approximately 6 US cents per share).

- Capital expenditure cut by $200m to $2bn - $2.1bn; certain projects and corporate costs under review.

- Tropicana on track for first production of gold before the end of next year; Kibali remains on track.

- Technology & Innovation Consortium making good progress on reef-boring project for South African mines.

- All Injury Frequency Rate (AIFR) the lowest on record at 7.93 per million hours worked.

For the first three quarters…

-   Profit attributable to equity shareholders at $1,019m (2011: $1,167m).

-   Adjusted headline earnings at $917m (2011: $1,002m).

- EBITDA at $2,065m, compared to $2,234m during the same period last year.


-   Year to date AIFR of 8.2 per million hours worked, a 16% improvement on
2011 year-end performance.

                                      Quarter      Nine months
                                                              
                                 ended ended ended ended ended
                                                              
                                   Sep   Jun   Sep   Sep   Sep
                                                              
                                  2012  2012  2011  2012  2011
                                                              
                                     US dollar / Imperial     
                                                              
Operating review                                              
                                                              
Gold                                                          
                                                              
Produced           - oz (000)    1,030 1,073 1,092 3,084 3,217
                                                              
Price received 1   - $/oz        1,648 1,607 1,713 1,649 1,539
                                                              
Total cash costs   - $/oz          866   801   737   821   716
                                                              
Total production                                              
costs              - $/oz        1,081 1,002   922 1,027   910
                                                              
Financial review                                              
                                                              
Adjusted gross                                                
profit 2           - $m            573   633   816 1,923 1,942
                                                              
Gross profit       - $m            512   633   815 1,862 1,941
                                                              
Profit                                                        
attributable to                                               
equity                                                        
shareholders       - $m            168   287   456 1,019 1,167
                                                              
                   - cents/share    43    74   118   263   302
                                                              
Headline earnings  - $m            178   307   476 1,036 1,194
                                                              
                   - cents/share    46    79   123   268   309
                                                              
Adjusted headline                                             
earnings 3         - $m            235   253   457   917 1,002
                                                              
                   - cents/share    61    65   118   237   260
                                                              
Cash flow from                                                
operating                                                     
activities         - $m            304   462   863 1,348 2,011
                                                              
Capital                                                       
expenditure        - $m            545   451   408 1,350 1,002
                                                              

Notes:

1. Refer to note C "Non-GAAP           $ represents US dollar, unless 

otherwise

disclosure" for the definition.        stated.                             
   
                                                                               
2. Refer to note B "Non-GAAP           Rounding of figures may result in       
disclosure" for the definition.        computational discrepancies.        
   
                                                                               
3. Refer to note A "Non-GAAP                                                   
disclosure" for the definition.                                                
                                                                               

Certain statements made in this communication, other than statements of
historical fact, including, without limitation, those concerning the economic
outlook for the gold mining industry, expectations regarding gold prices,
production, cash costs and other operating results, growth prospects and
outlook of AngloGold Ashanti's operations, individually or in the aggregate,
including the achievement of project milestones, the completion and
commencement of commercial operations of certain of AngloGold Ashanti's
exploration and production projects and the completion of acquisitions and
dispositions, AngloGold Ashanti's liquidity and capital resources and capital
expenditures and the outcome and consequence of any potential or pending
litigation or regulatory proceedings or environmental issues, are
forward-looking statements or forecasts regarding AngloGold Ashanti's
operations, economic performance and financial condition. These forward-looking
statements or forecasts involve known and unknown risks, uncertainties and
other factors that may cause AngloGold Ashanti's actual results, performance or
achievements to differ materially from the anticipated results, performance or
achievements expressed or implied in these forward-looking statements. Although
AngloGold Ashanti believes that the expectations reflected in such
forward-looking statements and forecasts are reasonable, no assurance can be
given that such expectations will prove to have been correct. Accordingly,
results could differ materially from those set out in the forward-looking
statements as a result of, among other factors, changes in economic, social,
political and market conditions, success of business and operating initiatives,
changes in the regulatory environment and other government actions including
environmental approvals and actions, fluctuations in gold prices and exchange
rates, and business and operational risk management. For a discussion of
certain of these and other factors, refer to AngloGold Ashanti's annual report
for the year ended 31 December 2011, which was distributed to shareholders on 4
April 2012, the company's 2011 annual report on Form 20-F, which was filed with
the Securities and Exchange Commission in the United States on 23 April 2012
and the prospectus supplement to the company's prospectus dated 17 July 2012
that was filed with the Securities and Exchange Commission on 25 July 2012.
These factors are not necessarily all of the important factors that could cause
AngloGold Ashanti's actual results to differ materially from those expressed in
any forward-looking statements. Other unknown or unpredictable factors could
also have material adverse effects on future results. Consequently,
stakeholders are cautioned not to place undue reliance on forward-looking
statements. AngloGold Ashanti undertakes no obligation to update publicly or
release any revisions to these forward-looking statements to reflect events or
circumstances after today's date or to reflect the occurrence of unanticipated
events, except to the extent required by applicable law. All subsequent written
or oral forward-looking statements attributable to AngloGold Ashanti or any
person acting on its behalf are qualified by the cautionary statements herein.

This communication may contain certain "Non-GAAP" financial measures. AngloGold
Ashanti utilises certain Non-GAAP performance measures and ratios in managing
its business. Non-GAAP financial measures should be viewed in addition to, and
not as an alternative for, the reported operating results or cash flow from
operations or any other measures of performance prepared in accordance with
IFRS. In addition, the presentation of these measures may not be comparable to
similarly titled measures other

companies may use. AngloGold Ashanti posts information that is important to
investors on the main page of its website at www.anglogoldashanti.com and under
the "Investors" tab on the main page. This information is updated regularly.
Investors should visit this website to obtain important information about
AngloGold Ashanti.

Operations at a glance                                                                                
                                                                                                      
for the quarter ended 30 September 2012                                    
                          
                                                                                                      
                                                                                  Total cash          
                                                      Production                    costs             
                                                                                                      
                                                                   Qtr on                      Qtr on 
                                                                    Qtr                         Qtr   
                                                                                                      
                                                     Year-on-year    %           Year-on-year    %    
                                                                  Variance                    Variance
                                            oz (000) % Variance 2    3     $/oz  % Variance 2    3    
                                                                                                      
SOUTH AFRICA                                     373          (5)        3   849           12        9
                                                                                                      
Great Noligwa                                     29           16       21 1 047         (17)      (7)
                                                                                                      
Kopanang                                          48         (38)     (14) 1 104           58       27
                                                                                                      
Moab Khotsong                                     46         (35)     (15) 1 029           44       13
                                                                                                      
Mponeng                                          126            8        5   623            6        6
                                                                                                      
Savuka                                            10         (23)     (17) 1 026           10       16
                                                                                                      
TauTona                                           60            3       15   847          (7)      (5)
                                                                                                      
First Uranium SA                                  14            -        -   898            -        -
                                                                                                      
Surface Operations                                40           25      (9)   852          (3)       25
                                                                                                      
CONTINENTAL AFRICA                               357         (13)     (12)   916           24       11
                                                                                                      
Ghana                                                                                                 
                                                                                                      
Iduapriem                                         45          (6)      (4) 1 051           22        4
                                                                                                      
Obuasi                                            60         (23)     (28) 1 167           41       23
                                                                                                      
Guinea                                                                                                
                                                                                                      
Siguiri - Attr. 85%                               60            7     (10)   985            4       36
                                                                                                      
Mali                                                                                                  
                                                                                                      
Morila - Attr. 40% 4                              18         (25)     (18)   780          (5)     (10)
                                                                                                      
Sadiola - Attr. 41% 4                             26         (16)       18   963           22     (19)
                                                                                                      
Yatela - Attr. 40% 4                               7         (13)       17 1 790           16     (23)
                                                                                                      
Namibia                                                                                               
                                                                                                      
Navachab                                          15          (6)     (29) 1 040          (6)       25
                                                                                                      
Tanzania                                                                                              
                                                                                                      
Geita                                            127         (15)      (9)   682           44        8
                                                                                                      
Non-controlling interests,  exploration and                                
                          
other                                                                                                 
                                                                                                      
AUSTRALASIA                                       64           28     (10)   937         (40)     (21)
                                                                                                      
Australia                                                                                             
                                                                                                      
Sunrise Dam                                       64           28     (10)   891         (43)     (19)
                                                                                                      
Exploration and other                                                                                 
                                                                                                      
AMERICAS                                         237            -        2   798           52       19
                                                                                                      
Argentina                                                                                             
                                                                                                      
Cerro Vanguardia - Attr. 92.50%                   56            8        - 
 772          161       18
                                                                                                      
Brazil                                                                                                
                                                                                                      
AngloGold Ashanti Mineração                       91         (10)     
(6)   837           51       21
                                                                                                      
Serra Grande 5                                    30          100      100   853          (7)      (1)
                                                                                                      
United States of America                                                                              
                                                                                                      
Cripple Creek & Victor                            60         (13)      (6)   725           29       21
                                                                                                      
Non-controlling interests, exploration and                                 
                          
other                                                                                                 
                                                                                                      
OTHER                                                                                                 
                                                                                                      
Sub-total                                       1030          (6)      (4)   866           18        8
                                                                                                      
Equity accounted investments included above                                
                          
                                                                                                      
AngloGold Ashanti                                                                                     
                                                                                                      
1 Refer to note B "Non GAAP disclosure" for definition                                                
                                                                                                      
2 Variance September 2012 quarter on September 2011 quarter - increase     
                          
(decrease).                                                                                           
                                                                                                      

3 Variance September 2012 quarter on June 2012 quarter - increase (decrease).

4 Equity accounted joint ventures.                                                                    
                                                                                                      
Rounding of figures may result in computational discrepancies.             
                          
                                                                                                      

Operations at a glance                             Adjusted           
                                                 gross profit         
for the quarter ended 30 September 2012             (loss)            
                                                                      
                                                               Qtr on 
                                                                Qtr   
                                                 Year-on-year         
                                                                 $m   
                                                 $m Variance  Variance
                                             $m       2          3    
                                                                      
SOUTH AFRICA                                 208         (82)        3
                                                                      
Great Noligwa                                 11            5        5
                                                                      
Kopanang                                      15         (46)     (13)
                                                                      
Moab Khotsong                                  6         (39)      (6)
                                                                      
Mponeng                                      108          (5)       12
                                                                      
Savuka                                         4          (7)      (3)
                                                                      
TauTona                                       31            3       12
                                                                      
First Uranium SA                               2            2        2
                                                                      
Surface Operations                            31            5      (6)
                                                                      
CONTINENTAL AFRICA                           197        (128)     (47)
                                                                      
Ghana                                                                 
                                                                      
Iduapriem                                     20         (12)      (1)
                                                                      
Obuasi                                        14         (33)     (20)
                                                                      
Guinea                                                                
                                                                      
Siguiri - Attr. 85%                           32         (10)     (14)
                                                                      
Mali                                                                  
                                                                      
Morila - Attr. 40% 4                          15          (6)        -
                                                                      
Sadiola - Attr. 41% 4                         15         (12)        6
                                                                      
Yatela - Attr. 40% 4                         (1)          (2)        4
                                                                      
Namibia                                                               
                                                                      
Navachab                                       4          (3)      (9)
                                                                      
Tanzania                                                              
                                                                      
Geita                                         96         (46)     (10)
                                                                      
Non-controlling interests,  exploration and    4          (2)      (1)
other                                                                 
                                                                      
AUSTRALASIA                                   36           36       11
                                                                      
Australia                                                             
                                                                      
Sunrise Dam                                   40           39        9
                                                                      
Exploration and other                        (3)          (3)        3
                                                                      
AMERICAS                                     154         (98)      (9)
                                                                      
Argentina                                                             
                                                                      
Cerro Vanguardia - Attr. 92.50%               44         (20)        3
                                                                      
Brazil                                                                
                                                                      
AngloGold Ashanti Mineração                   37         (61)     (17)
                                                                      
Serra Grande 5                                18            9       10
                                                                      
United States of America                                              
                                                                      
Cripple Creek & Victor                        52         (16)        1
                                                                      
Non-controlling interests, exploration and     3         (10)      (7)
other                                                                 
                                                                      
OTHER                                          6           10      (9)
                                                                      
Sub-total                                    601        (263)     (51)
                                                                      
Equity accounted investments included above (28)           20      (9)
                                                                      
AngloGold Ashanti                            573        (243)     (60)
                                                                      

1 Refer to note B "Non GAAP disclosure" for definition

2 Variance September 2012 quarter on September 2011 quarter - increase (decrease).

3 Variance September 2012 quarter on June 2012 quarter - increase (decrease).

4 Equity accounted joint ventures.

5 Effective 1 July 2012, AngloGold Ashanti increased its shareholding in Serra Grande from 50% to 100%.

Rounding of figures may result in computational discrepancies.

Financial and Operating Report

OVERVIEW FOR THE QUARTER

FINANCIAL AND CORPORATE REVIEW


The current quarter's adjusted headline earnings (AHE) of $235m or 61 US cents
per share is lower, when compared with $457m or 118 US cents per share recorded
in the third quarter of 2011. The decline is principally due to a 6% drop in
gold production, a $65/oz lower gold price, higher cash costs associated with
inflation including wage increases, lower grades and by-product credits,
increased exploration and study costs, and higher finance charges. These
adverse impacts were partially mitigated by the deferred tax credit of $58m
from the Serra Grande tax restructuring.

When compared to the June 2012 quarter, AHE declined by 7% primarily due to 4%
lower production, higher unit costs (wage increases and winter power tariffs in
the South African region and, for the wage increases, also in the Americas),
lower by-product credits, increased exploration and study costs, and higher
finance charges.

Profit attributable to equity shareholders for the third quarter was $168m and
year-to-date amounted to $1,019m compared to $1,167m for the year-to-date last
year. The third quarter net profit of $168m was 41% or $119m lower than the
June quarter due to higher costs, increased exploration and study costs, higher
finance costs and fair value losses relating to the convertible bonds and
commodity contracts. These factors were partly mitigated by the deferred tax
credit from the Serra Grande tax restructuring. Cash flow generated from
operating activities was $304m during the third quarter, compared with $863m a
year earlier. Capital expenditure was $545m (including equity accounted joint
ventures) for the September 2012 quarter compared to $408m for the September
2011 quarter. Net debt increased from $879m at the end of the second quarter to
$1,569m at the end of September following the completion of the acquisition of
First Uranium's Mine Waste Solutions for $335m on 20 July 2012, and higher
capital expenditure. AngloGold Ashanti expects net debt to increase by year-end
given its project capital expenditure profile.

SOUTH AFRICA


Following a wave of labour unrest and unprotected strike action that took place
throughout South Africa since early August, workers at AngloGold Ashanti's
Kopanang mine embarked on an unprotected strike on 20 September, preventing the
commencement of the night shift on 20 September. Workers at the three West Wits
and balance of the Vaal River regions' operations joined the unprotected work
stoppage on 25 September.

The company worked throughout this challenging period to find a mutually
agreeable solution to the unprocedural work stoppage, which cost approximately
32,000oz a week in lost production while the entire South African portfolio
remained idle. AngloGold Ashanti, along with its major gold-producing peers in
South Africa, used the Entry Level Task Team, established in the 2011
collective wage negotiation process to: increase the entry-level pay of
employees; establish a new pay category for equipment operators; provide an
allowance for rock-drill operators; and increase pay by 2% for most categories
of worker. The net impact of this settlement on the payroll cost for AngloGold
Ashanti is $16m per annum.

Striking employees at the Kopanang and Great Noligwa mines, as well as the
surface operations, started returning to work on Monday 22 October while Moab
Khotsong followed a day later. The situation at those mines, as well as all
surface operations, remains normal and they are in the process of ramping up to
full production.

On Friday 26 October following extensive dialogue between AngloGold Ashanti's
regional management and employees, most of the striking workforce returned to
the three West Wits mines. TauTona, however, was again disrupted by an
underground sit-in on 1 November where employees demanded early payment of a
safety incentive, which was offered to help ensure the safe restart of the
mine. A day later, Mponeng's normal operations were disrupted by a similar
sit-in. This occurred again on 5 November at Mponeng, with threats made by
striking miners to their colleagues. In both cases, damage was caused to
company property. In the wake of this second disruption at Mponeng, a decision
was taken to suspend operations at the mine given that AngloGold Ashanti was
unable to ensure the safety of staff. Striking employees will again receive no
pay while the situation persists and the mine will remain closed until
assurances can be received that normal, safe operations can resume. These work
stoppages on the world's deepest underground mines, which have started suddenly
and have lasted five weeks (and longer in the case of Mponeng), are
unprecedented and pose significant safety risks and operating challenges.
AngloGold Ashanti continues to take every precaution to ensure the operations
are restarted safely and that the ore bodies are not compromised.

As of 2 November, AngloGold Ashanti estimates the strike had cost about
250,000oz of lost production during the fourth quarter due to the work
stoppages and also in the slow ramp up to full production. While concerted
efforts are being made to end the impasse at Mponeng, and to prevent it from
spreading to neighbouring operations, the continued disruption will further
exacerbate the production losses. The lower volumes will have a commensurate
impact on regional and group unit cash costs.

CORPORATE UPDATE


AngloGold Ashanti's management has moved decisively to counter the impact of
the strike, in order to maintain appropriate financial flexibility. Capital
expenditure for 2012 has been reduced by $200m and is now estimated at $2bn to
$2.1bn. A study of all corporate and operating costs is currently being
conducted. AngloGold Ashanti's industry leading exploration programme is being
focused on key, high-potential projects and capital projects are being
reviewed. At Mongbwalu, in the Democratic Republic of Congo, the development
schedule is being reviewed in order to provide time to assess additional
discoveries that have been made. Development of the Sadiola Deep Sulphides
project is being slowed, as are the life extension projects at Moab Khotsong
and Mponeng in South Africa. Also in South Africa, production plans are being
reviewed to focus the existing operations on higher margin, higher quality
operations. Additional detail will be provided along with fourth-quarter and
full-year operating and financial results in early 2013, when AngloGold Ashanti
traditionally provides production, capital expenditure and cost forecasts for
the year ahead.

DIVIDEND

The company remains committed to focusing on the cash returns to shareholders
whilst, as previously stated, considering cash flow, investment needs and the
financial strength of the business in the context of delivering on its business
plan and strategic growth objectives. The unprotected strike action at the
South African operations, which started late in the third quarter and continued
through much of the fourth quarter to date, have had an adverse impact on the
quarter three results and will significantly impact the quarter four results.
On 17 October 2012, following the downgrade of the South African sovereign
ratings, Standard and Poor's announced that the company is being placed on
credit watch negative, which may result in downgrading the company's credit
rating below investment grade. On the basis of these developments and
management's efforts to effect cuts in expenditures whilst retaining confidence
in the long term outlook, the Board has reduced the quarter three dividend to
50 South African cents per share. It is expected that the dividend will be at a
similar level in the fourth quarter assuming that the unprotected strike action
is speedily resolved, before moving back in line with long term operating and
financial performance in 2013.

SAFETY


Tragically, four fatal incidents were reported during the quarter. Safety
remains the highest priority across the organisation and the focus remains on
improving safety throughout the organisation through various programmes and
initiatives including the on-going implementation of Project ONE, incident risk
protocols and risk management training. As a result, overall safety performance
continues to improve. The All Injury Frequency Rate (AIFR) in the third quarter
was the lowest quarterly rate on record for the organisation at 7.93 per
million hours worked. Year-to-date, the AIFR was 8.2 per million hours worked,
a 16% improvement when compared to the 2011 year-end performance, and all
regions reflect double digit improvement in AIFR against 2011 year-end
performance. Notably, Kopanang achieved 1,000,000 fatality free shifts and
Yatela remains injury free for 2012.

OPERATING REVIEW

Production for the three months to 30 September 2012 was 1.03Moz at a total
cash cost of $866/oz compared to 1.09Moz at a total cash cost of $737/oz for
the three months to 30 September 2011. This compares with guidance for the
period of 1.07Moz to 1.10Moz at a total cash cost of $835/oz to $865/oz. Output
was affected primarily by labour unrest in South Africa and
lower-than-anticipated performance from the Obuasi mine in Ghana. Lower volumes
had an adverse effect on unit total cash costs.

The South African operations produced 373,000oz at a total cash cost of $849/oz
in the three months to 30 September 2012 compared with 394,000oz at a total
cash cost of $757/oz a year earlier. The year-on-year performance was impacted
by labour unrest in South Africa, where absenteeism and work stoppages in the
immediate aftermath of the Marikana shooting on 16 August, and the strike that
started at Kopanang on 20 September and spread to the remainder of the South
African operations on 25 September, affected production. The performance was
also adversely affected by winter power-tariff increases in South Africa;
increased seismic activity in the West Wits area; reduced volumes mined coupled
with lower mining grades in the Vaal River district; inflationary pressures and
continued safety-related stoppages through the quarter.

At the West Wits operations, Mponeng's production increased by 8% year-on-year
to 126,000oz due to improved volumes, as the same quarter last year was
negatively impacted by safety stoppages. Total cash costs rose 6% to $623/oz
year-on- year as a result of continued efforts to improve in-stope safety. At
neighbouring TauTona, output increased from a year earlier to 60,000oz, mainly
as a result of improved volumes mined. Total cash costs decreased by 7% to $847
/oz due to improved production, cost savings initiatives and vigorous cost
management. The full implementation of Project ONE has resulted in production
improvements through the completion of Simunye training, shaft optimisation and
shaft compliance. The stabilisation of the Vertical Transport and Turbo areas
has resulted in cost improvements due to restructuring of work.

The Vaal River Operations, particularly Moab Khotsong, were severely impacted
by safety-related stoppages along with mining flexibility constraints and the
industrial strike action. Gold production at Moab Khotsong fell by 35% from a
year earlier to 46,000oz principally due to the above mentioned operational
issues as well as a 10% reduction in grade with a 44% rise in total cash cost
to $1,029/oz. The successful implementation of a work management system and
recovery plan at Great Noligwa resulted in a 16% year-on-year increase in
production to 29,000oz. At the same time, total cash costs decreased by 17% to
$1,047/oz. Kopanang, adversely affected by mining flexibility issues and lower
mining grades, experienced a 38% year-on-year decline in production to 48,000oz
while total cash costs rose by 58% to $1,104/oz.

Surface Operations production rose by 25% to 40,000oz whilst total cash costs decreased by 3% to $852/oz.

The production business units completed the first of a series of engagement
workshops to improve working relationships. To address the skills level of
middle managers, an Advanced Mine Overseers training programme is expected to
be rolled out upon finalisation of the programme, following excellent results
in its pilot phase. Simunye training, to improve safety and production of all
production teams is progressing well with 61% of all stoping crews trained.

The Continental Africa Region operations produced 357,000oz at a total cash cost of $916/oz in the third quarter of 2012,compared with 411,000oz at a total cash cost of $739/oz reported in the third quarter of 2011.


In Tanzania, production at Geita was 15% lower than the same period last year
at 127,000oz as mining grades normalised to plan, partly mitigated by an
increase in tonnage throughput. Total cash costs increased, when compared to
the same period last year, by 44% to $682/oz due to the lower production and
increases in mining contract rates.

In Ghana, production at Iduapriem was 45,000oz, 6% lower than the third quarter
in 2011 due to delays in accessing higher grade areas and increased
environmental compliance costs. Total cash costs were higher at $1,051/oz
primarily due to the lower production. At Obuasi, production was 23% lower than
a year earlier at 60,000oz due to development of ore stopes being behind
schedule with a resultant delay in access to average reserve grade ore.
Consequently, total cash costs rose 41% to $1,167/oz. The decision to terminate
the relationship with the development contractor was announced during October,
given that sub-par development performance has been identified as a key
constraint to the mine's performance in recent years. AngloGold Ashanti is
expected to assume operational accountability for development at the mine after
the required 28-day notice period. The costs of the termination and
consequential impact will be reflected in the fourth quarter financials.

In Guinea, Siguiri's production rose 7% year-on-year to 60,000oz as tonnage throughput was sustained at the higher levels achieved in the previous quarter. Total cash costs were 4% higher at $985/oz.

In Mali, Morila's production was 25% lower year-on-year at 18,000oz as the
higher grade ore stockpiles were fully depleted and processing of the marginal
grade stockpiles commenced. Despite the lower year-on-year production, total
cash costs decreased by 5% to $780/oz. Sadiola, which continues to be affected
by lower grades and transition ore, had production 16% lower than the same
quarter in the prior year at 26,000oz, and its total cash costs increased by
22% to $963/oz, primarily as a result of the lower production.

In Namibia, Navachab's production was 15,000oz, 6% lower than the same period
last year, reflecting a decrease in tonnage as a result of industrial action in
the quarter that impacted normal operations. Total cash costs averaged $1,040/
oz.

The Americas region produced 237,000oz of gold at a total cash cost of $798/oz
in the third quarter of 2012, compared with 238,000oz at a total cash cost of
$524/oz a year earlier.

At Cripple Creek & Victor gold production was 60,000oz which was 13% lower than
the third quarter in 2011, while cash cost increased by 29% to $725/oz
primarily due to higher cost ounces placed on the heap leach pad. Cripple Creek
& Victor received two critical approvals related to Mine Life Extension 2 (MLE
2) project.

At AngloGold Ashanti Brasil Mineração, production was 10% lower than the same
quarter last year at 91,000oz with lower production from Cuiabá due to
geotechnical issues and lower equipment availability. At the Córrego do Sítio
operation, the sulphide plant reached stabilization in August and mine ramp up
continues toward full production which is expected by the end of the year.
Total cash cost rose 51% to $837/oz as a consequence of lower gold produced and
higher labour costs due to the annual collective agreement in August, as well
as ore stockpile and gold in process movements. At Serra Grande, production was
100% higher than the prior year at 30,000oz following the acquisition of the
remaining 50% stake in the mine on 28 June 2012. Total cash cost was 7% lower
at $853/oz as a result of ore stockpile and gold in process movements and the
weakening real. This was partially offset by higher labour costs due to the
annual collective agreement in August and higher development costs.

In Argentina, at Cerro Vanguardia, attributable gold production at 56,000oz was
8% higher than the same quarter last year as a consequence of an increase in
tonnage throughput. Attributable silver production at 516,000oz represents a 3%
increase compared to the previous quarter. Total cash cost at the operation was
$772/oz. Costs were impacted by continuing local inflation issues.

In Australasia production at Sunrise Dam increased by 28% year-on-year to
64,000oz with total cash costs decreasing 43% to $891/oz. Cash costs saw a $30m
(A$29m) credit due to the receipt of insurance claim funds relating to the pit
wall failure. During the quarter, a total of 172m of underground capital
development and 2,695m of operational development were completed during the
quarter.

PROJECTS


AngloGold Ashanti incurred capital expenditure of $545m (including
equity-accounted joint ventures) during the quarter, of which $262m was spent
on growth projects. Of the growth related capital $21m was spent in the
Americas, $116m was spent in Continental Africa, $73m in Australasia and $52m
in South Africa.

The Kibali project, the joint venture between state-owned Sokimo (10%),
AngloGold Ashanti (45%) and operator Randgold Resources (45%), is expected to
require attributable project capital expenditure of $982m (including
contingencies and escalation), to fund development of the open pit and
underground mines, as well as associated infrastructure, with first gold from
the open pit targeted for late next year. Year-to-date, AngloGold Ashanti has
spent $137m towards the development of the Kibali project which continued to
make steady progress in line with the development schedule. Bulk earthworks and
civil works progressed with the first concrete pour to the mill achieved at the
end of the quarter. The Relocation Action Plan (RAP) continues in earnest with
the completion of repairs to the houses impacted by storm damage together with
planned construction of the remaining houses. A total of 1,554 houses have been
constructed to date.

Tropicana Gold Project continues to make steady progress towards its first
production expected by year-end 2013. The key activities that drove project
expenditure in the September quarter included infrastructure construction
focused on village installation, bore field pipeline, structural steel
buildings and administration facilities, with plant construction works
including concrete, tankage and the commencement of structural steel. The
project is progressing well, and is 64% complete. Design and procurement
activities are complete and the focus is aimed at expediting and managing the
respective site based contractors to ensure delivery of work in line with
project expectations. Subsequent to the last update, the Electrical and
Instrumentation (E&I) contract was awarded and the last main contract, the
Tailings Storage Facility (TSF) construction contract, was tendered. The E&I
contract was within the forecast and the opening bids for the TSF contract were
within the forecast, providing additional confidence in the capital cost
forecast.

Technology and Innovation Project


AngloGold Ashanti's Technology & Innovation Consortium continued to clear
technical hurdles on the path to creating a safe, automated mining method
intended for use at AngloGold Ashanti's deep-level underground mining
operations. During the third quarter, the team completed three raise bore holes
on reef at the 97 level site at TauTona. The remaining two holes planned for
the year will focus on improving the speed of the drilling process. Substantial
headway in the design and testing of ultra high strength backfill has also been
achieved. Initial surface pumping trial has proven that the 160Mpa strength mix
design could be pumped over a horizontal distance of 40m and a height of 3m.

EXPLORATION


Total exploration expenditure during the third quarter, inclusive of
expenditure at equity accounted joint ventures, was $107m ($33m on brownfield,
$35m on greenfield and $39m on pre-feasibility studies), compared with $96m in
the third quarter of 2011 ($35m on brownfield, $33m on greenfield, and $28m on
pre-feasibility studies). The following are highlights from the company's
exploration activities during the quarter.

Greenfield exploration activities were undertaken in six regions (Australia,
Americas, Pacific, Sub-Saharan Africa and the Middle East & North Africa)
during the third quarter of 2012. A total of 105,673 metres of diamond, RC and
aircore drilling was completed on existing priority targets and used to
delineate new targets in Australia, Colombia, Brazil, Guinea, Tanzania, Egypt,
the Solomon Islands and the DRC.

In Colombia, exploration included diamond drilling at the Nuevo Chaquiro target
on the Quebradona project, a joint venture between AngloGold Ashanti (69.6%)
and B2Gold (30.4%). A total of 3,406m was drilled, targeting porphyry Au-Cu-Mo
and associated epithermal mineralisation. To date, mineralisation has been
traced to depths approaching 1,500m.

At La Colosa, drilling continued for geotechnical and hydrological studies, and
the continuity of the structurally controlled high grade core was established.
The four drills operating during the quarter completed 12,700m, including 310m
@ 1.98g/t from 20m. Positive assay results continued to return from holes
drilled previously in 2012 with Borehole COL148 returning a value of 1.84g/t
over 201m from a depth of 400m.

In Australia, encouraging results have been returned for first pass aircore drilling at the Beaker prospect, within the Viking project (AGA 100%) and include 9m @ 1.74g/t Au, 3m @ 9.07g/t Au and 3m @ 3.17g/t Au. Results are still awaited for the recently completed diamond drilling programme.


At Tropicana, drilling for the Havana Deeps Prefeasibility Study was completed
during the quarter with 2,183m of diamond drilling. All assay results have been
returned and have been incorporated into the geological model. Two encouraging
results were received from holes at the north eastern limit of drilling at
Havana (18m @ 5.4g/t Au from 500m and 5m @ 9.0g/t Au from 560m). These indicate
the potential for a third high grade shoot at Havana.

A Mineral Resource model update is targeted for completion by year end, with
this forming the basis for open pit and underground mining studies scheduled to
be undertaken during 2013. Study work has commenced with metallurgical testing
underway and mining and geotechnical review commenced.

In Guinea, exploration work focussed on the Kounkoun trend in Block 3, with
infill and delineation drilling. Resource modelling is in progress for Saraya
in Block 2, while reconnaissance drilling will commence over Block 4 after the
wet season in the fourth quarter. At Kounkoun Central and Kounkoun South, a
total of 14,894m of drilling was completed; comprising 8,434m aircore, 6,460m
of RC, and follows previously delineated mineralised zones. The best results
include, but are not limited to (true widths), 46.04m @ 2.11g/t Au from 12m in
KKAC559, 29.13m @ 2.74g/t Au from 144.5m in KKDD008, 23m @ 1.84g/t Au from 11m
in KKRC124, 29.7m @ 1.18g/t Au from 45m in KKAC593, 15.97m @ 2.23g/t Au from
43m in KKRC084 and 10.34m @ 3.07g/t Au from 35m in KKAC580.

At Siguiri, a total of 33,707m of drilling was completed, with about two-thirds
of RC drilling focused on upgrading oxide Mineral Resources around Kozan,
Soloni, Kossise NE, Kalamagna and Tubani-Bidini. The Kozan and Soloni infill
drilling areas consistently returned some good intersections during the
quarter, while the infill programme in the gap between Tubani and Bidini
confirmed the continuous nature of the steeply dipping ore bodies. Infill
drilling at Kossise NE successfully targeted the extensions of steeply dipping
NE trending mineralised faults identified by the CET research group in the
Kossise pit in 2011.

At Geita, drilling programmes focused on capitalised infill drilling programmes
(13,067m) at Geita Hill East and West, Nyankanga Blocks 1, 2 and cut 7, Ridge 8
and Star Comet-Ridge 8 gap. Expensed drilling (13,167m) was undertaken at
Nyankanga Block 4 Gap and the refractory ore Mineral Resource delineation at
Kukuluma - Matendani - Area 3 drilling projects.

Assay results for DD & RC infill holes indicated positive intersections. For
Nyankanga, Geita Hill and Ridge 8 the received results confirmed the
continuation of the ore body as expected. For Star & Comet extension, for most
sections drilled the orezone widened with respect to the existing ore
boundaries. Sterilisation drilling (1,860m) for Geita Hill waste dump area was
completed.

At Navachab in Namibia, seven diamond drill holes (2,908m) were completed during the quarter in the NP3 area targeting the FW main shoot veins down plunge extension. Assays returned in the quarter show some high Au intersections of nearly 40m thickness (e.g. N868 39.47m @ 3.12g/t Au from 74.37m).


In Egypt at Hutite, 4,235m of diamond and RC drilling was completed from the
Central Domain and the best results include: 9m @ 10.8g/t Au from 259m in
HUD057, 7m @ 4.2g/t Au from 280m in HUD058, 9m @ 5.4g/t Au from 59m in HUD061,
25m @ 1.82g/t Au from 118m in HUD060 and 4m @ 7.88g/t Au from 189m in HUD067.
The first six deep holes to depths of 600m below surface have been completed
and results will be reported in the fourth quarter 2012.

More detail on AngloGold Ashanti's exploration programme can be found at www.anglogoldashanti.com. An updated Reserve and Resources Statement will be published with our full-year financial report at the end of the financial year.

OUTLOOK


Given the continued work stoppage at the Mponeng mine and the uncertainty
around the timing of a resolution and also the consequent ramp-up of
production, AngloGold Ashanti believes it prudent to withhold quarterly cost
and production guidance for the fourth quarter at this time. Once a resolution
is reached, normal work patterns have resumed and there is greater visibility
of future production, the company will review this position. As in prior years,
the fourth quarter earnings will be distorted by year-end accounting
adjustments such as reassessment of useful lives, re-set of environment and
rehabilitation provisions, direct and indirect tax and inventory provisions. In
addition the fourth quarter 2012 will also include the adverse impact of the
South African strikes and the cost of changeover of the Obuasi mining contract.

Group income statement                                                                        
                                                                                              
                                            Quarter  Quarter   Quarter Nine months Nine months
                                                                                              
                                              ended    ended     ended       ended       ended
                                                                                              
                                          September     June September   September   September
                                                                                              
                                               2012     2012      2011        2012        2011
                                                                                              
US Dollar million                   Notes  Reviewed Reviewed  Reviewed    Reviewed    Reviewed
                                                                                              
Revenue                               2       1 664    1 684     1 873       5 142       5 066
                                                                                              
Gold income                                   1 629    1 619     1 793       4 955       4 791
                                                                                              
Cost of sales                         3     (1 056)    (986)     (977)     (3 032)     (2 849)
                                                                                              
Loss on non-hedge derivatives and                                          
                  
other commodity contracts                      (61)        -       (1)        (61)         (1)
                                                                                              
Gross profit                                    512      633       815        1862       1 941
                                                                                              
Corporate administration, marketing                                        
                  
and other expenses                             (70)     (69)      (67)       (207)       (201)
                                                                                              
Exploration and evaluation costs              (107)     (88)      (76)     
 (271)       (196)
                                                                                              
Other operating expenses              4         (5)     (28)      (11)        (40)        (32)
                                                                                              
Special items                         5        (25)        8      (13)           -          18
                                                                                              
Operating profit                                305      456       648       1 344       1 530
                                                                                              
Dividends received                                7        -         -           7           -
                                                                                              
Interest received                                10        9        10          31          29
                                                                                              
Exchange gain                                     1        8        15           7          12
                                                                                              
Fair value adjustment on option                                                               
component of convertible bonds                  (2)       24        11     

66 98

Finance costs and unwinding of                                             
                  
obligations                           6        (65)     (49)      (48)       (163)       (148)
                                                                                              
Fair value adjustment on mandatory                                         
                  
convertible bonds                              (11)       29         9          97          95
                                                                                              
Share of equity-accounted                                                                     
investments' (loss) profit                        -      (6)        24          16          57
                                                                                              
Profit before taxation                          245      471       669       1 405       1 673
                                                                                              
Taxation                              7        (76)    (186)     (204)       (373)       (477)
                                                                                              
Profit for the period                           169      285       465       1 032       1 196
                                                                                              
Allocated as follows:                                                                         
                                                                                              
Equity shareholders                             168      287       456       1 019       1 167
                                                                                              
Non-controlling interests                         1      (2)         9          13          29
                                                                                              
                                                169      285       465       1 032       1 196
                                                                                              
Basic earnings per ordinary share                                          
                  
(cents) (1)                                      43       74       118         263         302
                                                                                              
Diluted earnings per ordinary share                                        
                  
(cents) (2)(3)                                   43       61       109         220         248
                                                                                              

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

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

(3) Restated - refer note 8

Rounding of figures may result in computational discrepancies.

The reviewed financial statements for the quarter and nine months ended 30
September 2012 have been prepared by the corporate accounting staff of
AngloGold Ashanti Limited headed by Mr John Edwin Staples, the Group's Chief
Accounting Officer.  This process was supervised by Mr Mark Cutifani, the
Group's Chief Executive Officer and Mr Srinivasan Venkatakrishnan, the Group's
Chief Financial Officer.  The financial statements for the quarter and nine
months ended 30 September 2012 were reviewed, but not audited, by the Group's
statutory auditors, Ernst & Young Inc.  A copy of their unmodified review
report is available for inspection at the company's head office.

Group statement of comprehensive income                                                                  
                                                                                                         
                                                       Quarter  Quarter   

Quarter Nine months Nine months

                                                                                                         
                                                         ended    ended     ended       ended       ended
                                                                                                         
                                                     September     June September   September   September
                                                                                                         
                                                          2012     2012      2011        2012        2011
                                                                                                         
US Dollar million                                     Reviewed Reviewed  Reviewed    Reviewed    Reviewed
                                                                                                         
Profit for the period                                      169      285       465        1032        1196
                                                                                                         
Exchange differences on translation of foreign                             
                             
operations                                                (24)    (128)     (389)        (57)       (412)
                                                                                                         
Share of equity-accounted investments' other                               
                             
comprehensive loss                                           -        -         -           -         (1)
                                                                                                         
                                                                                                         
                                                                                                         
Net loss on available-for-sale financial assets            (6)     (12)    

(42) (17) (71)

Release on impairment of available-for-sale                                
                             
financial assets                                             3        -        17           4          19
                                                                                                         
Deferred taxation thereon                                  (1)        5    
 (11)           4        (11)
                                                                                                         
                                                           (4)      (7)      (36)         (9)        (63)
                                                                                                         
                                                                                                         
                                                                                                         
Deferred taxation rate change on actuarial losses            -        -    
    -         (9)           -
                                                                                                         
                                                                                                         
                                                                                                         

Other comprehensive loss for the period net of tax (28) (135) (425) (75) (476)

Total comprehensive income for the period net of                           
                             
tax                                                        141      150        40         957         720
                                                                                                         
Allocated as follows:                                                                                    
                                                                                                         
Equity shareholders                                        140      152        31         944         691
                                                                                                         
Non-controlling interests                                    1      (2)    
    9          13          29
                                                                                                         
                                                           141      150        40         957         720
                                                                                                         
Rounding of figures may result in computational discrepancies.                                           
                                                                                                         

Group statement of financial position                                      
                             
                                                                                                         
                                                                        As at    As at    As at     As at
                                                                                                         
                                                                    September     June December September
                                                                                                         
                                                                         2012     2012     2011      2011
                                                                                                         
US Dollar million                                              Note  

Reviewed Reviewed Audited Reviewed

                                                                                                         
ASSETS                                                                                                   
                                                                                                         
Non-current assets                                                                                       
                                                                                                         
Tangible assets                                                         7 620    6 789    6 525     6 042
                                                                                                         
Intangible assets                                                         289      243      210       191
                                                                                                         
Investments in equity-accounted associates and joint ventures             928      835      702       692
                                                                                                         
Other investments                                                         175      178      186       193
                                                                                                         
Inventories                                                               589      454      410       407
                                                                                                         
Trade and other receivables                                               
85       81       76       116
                                                                                                         
Deferred taxation                                                         160       61       79        69
                                                                                                         
Cash restricted for use                                                    32       24       23        22
                                                                                                         
Other non-current assets                                                    9        9        9         9
                                                                                                         
                                                                        9 887    8 674    8 220     7 741
                                                                                                         
Current assets                                                                                           
                                                                                                         
Inventories                                                             1 220    1 138    1 064       959
                                                                                                         
Trade and other receivables                                               

557 460 350 279

Current portion of other non-current assets                                

- - - 1

Cash restricted for use                                                   

61 32 35 38

                                                                                                         
Cash and cash equivalents                                               1 123      987    1 112     1 075
                                                                                                         
                                                                        2 961    2 617    2 561     2 352
                                                                                                         
Non-current assets held for sale                                           
1        2       21         1
                                                                                                         
                                                                        2 962    2 619    2 582     2 353
                                                                                                         
TOTAL ASSETS                                                           12 849   11 293   10 802    10 094
                                                                                                         
EQUITY AND LIABILITIES                                                                                   
                                                                                                         
Share capital and premium                                       10       6721    6 711    6 689     6 660
                                                                                                         
Retained earnings and other reserves                                  (1 040)  (1 135)  (1 660)   (2 015)
                                                                                                         
Shareholders' equity                                                    5 681    5 576    5 029     4 645
                                                                                                         
Non-controlling interests                                                 
61       61      137       133
                                                                                                         
Total equity                                                            5 742    5 637    5 166     4 778
                                                                                                         
Non-current liabilities                                                                                  
                                                                                                         
Borrowings                                                              2 708    2 492    2 456     2 439
                                                                                                         
Environmental rehabilitation and other provisions                       1 

234 795 782 597

                                                                                                         
Provision for pension and post-retirement benefits                        

214 217 195 164

Trade, other payables and deferred income                                 
12       14       14        16
                                                                                                         
Derivatives                                                                28       26       93        78
                                                                                                         
Deferred taxation                                                       1 215    1 149    1 158     1 051
                                                                                                         
                                                                        5 411    4 693    4 698     4 345
                                                                                                         
Current liabilities                                                                                      
                                                                                                         
Current portion of borrowings                                             

713 32 32 47

                                                                                                         
Trade, other payables and deferred income                                 829      732      751       712
                                                                                                         
Taxation                                                                  154      199      155       212
                                                                                                         
                                                                        1 696      963      938       971
                                                                                                         
Total liabilities                                                       7 107    5 656    5 636     5 316
                                                                                                         
TOTAL EQUITY AND LIABILITIES                                           12 

849 11 293 10 802 10 094

Rounding of figures may result in computational discrepancies.                                           
                                                                                                         

Group statement of cash flows                                                                                           
                                                                                                                        
                                                                      Quarter  Quarter   Quarter Nine months Nine months
                                                                                                                        
                                                                        ended    ended     ended       ended       ended
                                                                                                                        
                                                                    September     June September   September   September
                                                                                                                        
                                                                         2012     2012      2011        2012        2011
                                                                                                                        
US Dollar million                                              Note  Reviewed Reviewed  Reviewed    Reviewed    Reviewed
                                                                                                                        
Cash flows from operating activities                                       
                                            
                                                                                                                        
Receipts from customers                                                 1 603    1 691     1 875       5 052       4 967
                                                                                                                        
Payments to suppliers and employees                                   (1 

149) (1 106) (988) (3 339) (2 864)

                                                                                                                        
Cash generated from operations                                            

454 585 887 1 713 2 103

Dividends received from equity-accounted joint ventures                   
14       20        34          54          78
                                                                                                                        
Taxation refund                                                             -        -         1           -          96
                                                                                                                        
Taxation paid                                                           (164)    (143)      (59)       (419)       (266)
                                                                                                                        
Net cash inflow from operating activities                                 

304 462 863 1 348 2 011

Cash flows from investing activities                                       
                                            
                                                                                                                        
Capital expenditure                                                     (448)    (374)     (382)     (1 135)       (939)
                                                                                                                        
Interest capitalised and paid                                             (4)      (2)         -         (8)           -
                                                                                                                        
Expenditure on intangible assets                                         

(24) (20) (6) (52) (6)

Proceeds from disposal of tangible assets                                  
2        1         4           4          12
                                                                                                                        
Other investments acquired                                               (18)     (23)      (74)        (80)       (135)
                                                                                                                        
Proceeds from disposal of investments                                     

17 19 37 73 79

Investments in equity-accounted associates and joint ventures (106) (66) (31) (217) (80)

Proceeds from disposal of equity-accounted joint venture                    -        -         -          20           -
                                                                                                                        
Loans advanced to equity-accounted associates and joint                    
                                            
ventures                                                                  (1)     (48)      (10)        (64)        (13)
                                                                                                                        
Loans repaid by equity-accounted associates and joint ventures             
-        1         -           1           -
                                                                                                                        
Dividends received                                                          1        1         -           1           -
                                                                                                                        
Proceeds from disposal of subsidiary                                        -        -         -           -           9
                                                                                                                        
Cash in subsidiary acquired (disposed)                                      5        -         -           5        (11)
                                                                                                                        
Acquisition of subsidiary and loan                              13      (335)        -         -       (335)           -
                                                                                                                        
(Increase) decrease in cash restricted for use                           (33)       20       (9)        (31)        (22)
                                                                                                                        
Interest received                                                           7        8        11          26          29
                                                                                                                        
Repayment of loans advanced                                                 -        -         2           -           3
                                                                                                                        
Net cash outflow from investing activities                              

(937) (483) (458) (1 792) (1 074)

Cash flows from financing activities                                                                                    
                                                                                                                        
Proceeds from issue of share capital                                       
1        -         2           2           3
                                                                                                                        
Proceeds from borrowings                                                1 061      150       101       1 212         106
                                                                                                                        
Repayment of borrowings                                                 (203)      (4)     (104)       (212)       (259)
                                                                                                                        
Finance costs paid                                                       (17)     (57)      (14)        (89)        (89)
                                                                                                                        
Acquisition of non-controlling interest                                     -    (215)         -       (215)           -
                                                                                                                        
Revolving credit facility and bond transaction costs                     (21)        -         -        (29)           -
                                                                                                                        
Dividends paid                                                           (46)     (66)      (50)       (214)       (103)
                                                                                                                        
Net cash inflow (outflow) from financing activities                       

775 (192) (65) 455 (342)

                                                                                                                        
Net increase (decrease) in cash and cash equivalents                      142    (213)       340          11         595
                                                                                                                        
Translation                                                               (6)     (16)     (104)           -       (106)
                                                                                                                        
Cash and cash equivalents at beginning of period                          

987 1 216 839 1 112 586

                                                                                                                        
Cash and cash equivalents at end of period                              1 

123 987 1 075 1 123 1 075

Cash generated from operations                                             
                                            
                                                                                                                        
Profit before taxation                                                    245      471       669       1 405       1 673
                                                                                                                        
Adjusted for:                                                                                                           
                                                                                                                        
Movement on non-hedge derivatives and other commodity                      
                                            
contracts                                                                  61        -         1          61           1
                                                                                                                        
Amortisation of tangible assets                                           

202 195 192 588 565

Finance costs and unwinding of obligations                                

65 49 48 163 148

                                                                                                                        
Environmental, rehabilitation and other expenditure                       (2)        5       (6)         (2)          29
                                                                                                                        
Special items                                                              10        2        23          13          44
                                                                                                                        
Amortisation of intangible assets                                          
1        1         1           3           2
                                                                                                                        
Deferred stripping                                                        (7)        2       (1)        (11)          26
                                                                                                                        
Fair value adjustment on option component of convertible bonds             

2 (24) (11) (66) (98)

Fair value adjustment on mandatory convertible bonds                      
11     (29)       (9)        (97)        (95)
                                                                                                                        
Interest received                                                        (10)      (9)      (10)        (31)        (29)
                                                                                                                        
Share of equity-accounted investments' loss (profit)                       
-        6      (24)        (16)        (57)
                                                                                                                        
Other non-cash movements                                                    5       27       (4)          55          15
                                                                                                                        
Movements in working capital                                            (129)    (111)        18       (352)       (121)
                                                                                                                        
                                                                          454      585       887       1 713       2 103
                                                                                                                        
Movements in working capital                                               
                                            
                                                                                                                        
Increase in inventories                                                  (87)     (92)      (15)       (209)       (123)
                                                                                                                        
(Increase) decrease in trade and other receivables                       

(90) (37) 73 (181) (8)

Increase (decrease) in trade and other payables                           
48       18      (40)          38          10
                                                                                                                        
                                                                        (129)    (111)        18       (352)       (121)
                                                                                                                        
                                                                                                                        
                                                                                                                        
Rounding of figures may result in computational discrepancies.             

Group statement of changes in equity

                                                Share                      Cash Available
                                                                                         
                                              capital    Other             flow       for
                                                                                         
                                                  and  capital Retained   hedge      sale
                                                                                         
US Dollar million                             premium reserves earnings reserve   reserve
                                                                                         
Balance at 31 December 2010                     6 627      194  (2 750)     (2)        86
                                                                                         
Profit for the period                                             1 167                  
                                                                                         
Other comprehensive loss                                   (1)                       (63)
                                                                                         
Total comprehensive (loss) income                   -      (1)    1 167    
  -      (63)
                                                                                         
Shares issued                                      33                                    
                                                                                         
Share-based payment for share awards net of                                
             
exercised                                                   14                           
                                                                                         
Dividends paid                                                     (89)                  
                                                                                         
Dividends of subsidiaries                                                                
                                                                                         
Translation                                               (32)       30               (1)
                                                                                         
Balance at 30 September 2011                    6 660      175  (1 642)    

(2) 22

Balance at 31 December 2011                     6 689      171  (1 300)    
(2)        18
                                                                                         
Profit for the period                                             1 019                  
                                                                                         
Other comprehensive loss                                                              (9)
                                                                                         
Total comprehensive income (loss)                   -        -    1 019    
  -       (9)
                                                                                         
Shares issued                                      32                                    
                                                                                         
Share-based payment for share awards net of                                
             
exercised                                                   12                           
                                                                                         
Acquisition of non-controlling interest                           (144)    
             
                                                                                         
Dividends paid                                                    (193)                  
                                                                                         
Dividends of subsidiaries                                                                
                                                                                         
Translation                                                (6)        3                 1
                                                                                         
Balance at 30 September 2012                    6 721      177    (615)     (2)        10
                                                                                         
Rounding of figures may result in computational discrepancies.             

Group statement of changes in equity

                                                  Foreign                          
                                                                                   
                                    Actuarial    currency               Non-       
                                                                                   
                                     (losses) translation        controlling  Total
                                                                                   
US Dollar million                       gains     reserve  Total   interests equity
                                                                                   
Balance at 31 December 2010              (62)       (104)  3 989         124  4 113
                                                                                   
Profit for the period                                      1 167          29  1 196
                                                                                   
Other comprehensive loss                            (412)  (476)              (476)
                                                                                   
Total comprehensive (loss) income           -       (412)    691          29    720
                                                                                   
Shares issued                                                 33                 33
                                                                                   
Share-based payment for share                                                      
awards net of exercised                                       14                 14
                                                                                   
Dividends paid                                              (89)               (89)
                                                                                   
Dividends of subsidiaries                                      -        (13)   (13)
                                                                                   
Translation                                10                  7         (7)      -
                                                                                   
Balance at 30 September 2011             (52)       (516)  4 645         133  4 778
                                                                                   
                                                                                   
                                                                                   
Balance at 31 December 2011              (78)       (469)  5 029         137  5 166
                                                                                   
Profit for the period                                      1 019          13  1 032
                                                                                   
Other comprehensive loss                  (9)        (57)   (75)               (75)
                                                                                   
Total comprehensive income (loss)         (9)        (57)    944          13    957
                                                                                   
Shares issued                                                 32                 32
                                                                                   
Share-based payment for share                                              
       
awards net of exercised                                       12                 12
                                                                                   
Acquisition of non-controlling                                             
       
interest                                                   (144)        (71)  (215)
                                                                                   
Dividends paid                                             (193)              (193)
                                                                                   
Dividends of subsidiaries                                      -        (17)   (17)
                                                                                   
Translation                                 3                  1         (1)      -
                                                                                   
Balance at 30 September 2012             (84)       (526)  5 681          61  5 742
                                                                                   
                                                                                   
                                                                                   

Segmental reporting                                                                                        
                                                                                                           
for the quarter and nine months ended 30 September 2012                                                    
                                                                                                           
AngloGold Ashanti's operating segments are being reported based on the     

financial information provided to the Chief Executive Officer and the Executive

Management team, collectively identified as the Chief Operating Decision Maker

("CODM"). Individual members of the Executive Management team are responsible

for geographic regions of the business.                                    
                                                                                                                                          
                                                                     Quarter ended        Nine months ended
                                                                                                           
                                                                    Sep      Jun      Sep      Sep      Sep
                                                                                                           
                                                                   2012     2012     2011     2012     2011
                                                                                                           
                                                               Reviewed

Reviewed Reviewed Reviewed Reviewed

                                                                                                           
                                                                            US Dollar million              
                                                                                                           
Gold income                                                                                                
                                                                                                           
South Africa                                                        606      539      675    1 669    1 889
                                                                                                           
Continental Africa                                                  582      653      683    1 958    1 807
                                                                                                           
Australasia                                                         101      117       93      333      282
                                                                                                           
Americas                                                            421      390      448    1 243    1 095
                                                                                                           
                                                                  1 709    1 700    1 899    5 203    5 073
                                                                                                           
Equity-accounted investments included above                        (80)    
(81)    (106)    (248)    (282)
                                                                                                           
                                                                  1 629    1 619    1 793    4 955    4 791
                                                                                                           
Gross profit (loss)                                                                                        
                                                                                                           
South Africa                                                        147      205      290      534      763
                                                                                                           
Continental Africa                                                  197      244      325      758      732
                                                                                                           
Australasia                                                          36       25        -       78      (5)
                                                                                                           
Americas                                                            154      163      252      551      558
                                                                                                           
Corporate and other                                                   6       15      (4)       24       12
                                                                                                           
                                                                    540      652      863    1 945    2 060
                                                                                                           
Equity-accounted investments included above                        (28)    
(19)     (48)     (83)    (119)
                                                                                                           
                                                                    512      633      815    1 862    1 941
                                                                                                           
Capital expenditure                                                                                        
                                                                                                           
South Africa                                                        161      130      140      396      351
                                                                                                           
Continental Africa                                                  208      180      101      510      268
                                                                                                           
Australasia                                                          82       52       32      176       62
                                                                                                           
Americas                                                             77       75      125      233      308
                                                                                                           
Corporate and other                                                  17       14       10       35       14
                                                                                                           
                                                                    545      451      408    1 350    1 002
                                                                                                           
Equity-accounted investments included above                        (73)    
(54)     (20)    (161)     (58)
                                                                                                           
                                                                    472      397      388    1 189      944
                                                                                                           
                                                                                                           
                                                                                                           
                                                                     Quarter ended        Nine months ended
                                                                                                           
                                                                    Sep      Jun      Sep      Sep      Sep
                                                                                                           
                                                                   2012     2012     2011     2012     2011
                                                                                                           
                                                               Reviewed

Reviewed Reviewed Reviewed Reviewed

                                                                                                           
                                                                                 oz (000)                  
                                                                                                           
Gold production                                                                                            
                                                                                                           
South Africa                                                        373      362      394    1 041    1 226
                                                                                                           
Continental Africa                                                  357      407      411    1 146    1 151
                                                                                                           
Australasia                                                          64       71       50      203      183
                                                                                                           
Americas                                                            237      233      238      695      657
                                                                                                           
                                                                  1 030    1 073    1 092    3 084    3 217
                                                                                                           
                                                                                                           
                                                                                                           
                                                                           As at    As at    As at    As at
                                                                                                           
                                                                             Sep      Jun      Dec      Sep
                                                                                                           
                                                                            2012     2012     2011     2011
                                                                                                           
                                                                       

Reviewed Reviewed Audited Reviewed

                                                                                                           
                                                                                 US Dollar million         
                                                                                                           
Total assets                                                                                               
                                                                                                           
South Africa                                                               3 131    2 234    2 148    2 033
                                                                                                           
Continental Africa                                                         4 840    4 685    4 288    4 072
                                                                                                           
Australasia                                                                  994      803      736      582
                                                                                                           
Americas                                                                   2 765    2 652    2 501    2 378
                                                                                                           
Corporate and other                                                        1 120      919    1 129    1 029
                                                                                                           
                                                                          12 849   11 293   10 802   10 094
                                                                                                           
Rounding of figures may result in computational discrepancies.             
                               
                                                                                                           

 

Notes

for the quarter and nine months ended 30 September 2012

1. Basis of preparation


The financial statements in this quarterly report have been prepared in
accordance with the historic cost convention except for certain financial
instruments which are stated at fair value. Except for the change in
presentation currency detailed in note 16, the group's accounting policies used
in the preparation of these financial statements are consistent with those used
in the annual financial statements for the year ended 31 December 2011 and
revised International Financial Reporting Standards (IFRS) which are effective
1 January 2012, where applicable. The effect of the revised and amended
accounting standards applicable to this period are not considered to have a
material impact on the financial statements of the group.

The financial statements of AngloGold Ashanti Limited have been prepared in
compliance with IAS 34, JSE Listings Requirements and in the manner required by
the South African Companies Act, 2008 for the preparation of financial
information of the group for the quarter and nine months ended 30 September
2012.

2.    Revenue

                                      Quarter ended          Nine months ended 
                                                                               
                                    Sep       Jun       Sep       Sep       Sep
                                                                               
                                   2012      2012      2011      2012      2011
                                                                               
                               Reviewed  Reviewed  Reviewed  Reviewed  Reviewed
                                                                               
                                              US Dollar million                
                                                                               
Gold income                       1,629     1,619     1,793    4,955     4,791 
                                                                               
By-products (note 3)                 28        43        57      132       175 
                                                                               
Dividends received                    7         -         -        7         - 
                                                                               
Royalties received (note 5)        (10)        12        13       18        71 
                                                                               
Interest received                    10         9        10       31        29 
                                                                               
                                  1,664     1,684     1,873    5,142     5,066 
                                                                               

3.    Cost of sales

                                           Quarter ended    Nine months ended
                                                                             
                                    Sep      Jun      Sep       Sep       Sep
                                                                             
                                   2012     2012     2011      2012      2011
                                                                             
                               Reviewed Reviewed Reviewed  Reviewed  Reviewed
                                                                             
                                             US Dollar million               
                                                                             
Cash operating costs               866      815      777     2,445     2,241 
                                                                             
Insurance reimbursement            (30)       -        -       (30)       

-

                                                                             
By-products revenue (note 2)       (28)     (43)     (57)     (132)     (175)
                                                                             
                                   808      772      720     2,283     2,066 
                                                                             
Royalties                           49       44       55       142       142 
                                                                             
Other cash costs                    10        8        9        25        23 
                                                                             
Total cash costs                   867      825      784     2,450     2,231 
                                                                             
Retrenchment costs                   2        3        4         8        10 
                                                                             
Rehabilitation and other                                                     
non-cash costs                      16       25       11        50        72 
                                                                             
Production costs                   885      853      799     2,509     2,314 
                                                                             
Amortisation of tangible                                                     
assets                             202      195      192       588       565 
                                                                             
Amortisation of intangible                                                   
assets                               1        1        1         3         2 
                                                                             
Total production costs           1,089    1,049      992     3,100     2,881 
                                                                             
Inventory change                   (32)     (63)     (14)      (68)      (31)
                                                                             
                                 1,056      986      977     3,032     2,849 
                                                                             

4.    Other operating expenses

                                             Quarter ended    Nine months ended
                                                                               
                                      Sep      Jun      Sep       Sep       Sep
                                                                               
                                     2012     2012     2011      2012      2011
                                                                               
                                 Reviewed Reviewed Reviewed  Reviewed  Reviewed
                                                                               
                                               US Dollar million               
                                                                               
Pension and medical defined                                                    
benefit provisions                     4       26        7        35        15 
                                                                               
Claims filed by former employees                                           
   
in respect of loss of                                                          
employment, work-related                                                       
accident injuries and diseases,                                                
governmental fiscal claims and                                             
   
care and maintenance of old                                                    
tailings operations                    1        2        4         5        17 
                                                                               
                                       5       28       11        40        32 
                                                                               

Rounding of figures may result in computational discrepancies.

5. Special items

                                       Quarter ended        Nine months ended   
                                                                                
                                        Sep      Jun       Sep      Sep      Sep
                                                                                
                                       2012     2012      2011     2012     2011
                                                                                
                                   Reviewed Reviewed  Reviewed Reviewed Reviewed
                                                                                
                                                 US Dollar million              
                                                                                
Indirect tax expenses and legal                                            
    
claims                                    3        -         3       8       13 
                                                                                
Impairment of tangible assets                                                   
(note 8)                                  1        1         3       2       14 
                                                                                
Impairment reversal of intangible                                          
    
assets (note 8)                           -        -         -     (10)       - 
                                                                                
Black Economic Empowerment                                                      
transaction modification costs                                             
    
for Izingwe (Pty) Limited                 -        -         -       -        7 
                                                                                
Impairment of other receivables           1        -         -       1     

1

                                                                                
Royalties received (note 2) (1)          10     (12)      (13)     (18)     (71)
                                                                                
Net loss on disposal and                                                        
derecognition of land, mineral                                                  
rights, tangible assets,                                                        
exploration properties and other                                           
    
(note 8)                                  7        3         4      13        2 
                                                                                
Impairment of investments (note                                            
    
8)                                        3        -        16       4       18 
                                                                                
Profit on disposal of subsidiary                                                
ISS International Limited (note                                            
    
8)                                        -        -         -       -       (2)
                                                                                
                                         25      (8)        13       -      (18)
                                                                                

(1) Boddington royalties include an over accrual relating to the prior quarter of $11m.


6.   Finance costs and unwinding of obligations                                
                            

                                             Quarter ended    Nine months ended
                                                                               
                                      Sep      Jun      Sep       Sep       Sep
                                                                               
                                     2012     2012     2011      2012      2011
                                                                               
                                 Reviewed Reviewed Reviewed  Reviewed  Reviewed
                                                                               
                                               US Dollar million               
                                                                               
Finance costs                         50       36       34       121       107 
                                                                               
Unwinding of obligations,                                                      
accretion of convertible bonds                                             
   
and other discounts                   15       13       14        43        41 
                                                                               
                                      65       49       48       163       148 
                                                                               

7. Taxation

                                         Quarter ended        Nine months ended
                                                                               
                                        Sep      Jun      Sep      Sep      Sep
                                                                               
                                       2012     2012     2011     2012     2011
                                                                               
                                   Reviewed Reviewed Reviewed Reviewed Reviewed
                                                                               
                                                US Dollar million              
                                                                               
South African taxation                                                         
                                                                               
Mining tax                               25       31       42       82      42 
                                                                               
Non-mining tax                            6        4      (1)       11       4 
                                                                               

(Over) under prior year provision (2) 1 (3) -

 5 
                                                                               
Deferred taxation                                                              
                                                                               
Temporary differences                    19        7       53       37     180 
                                                                               
Unrealised non-hedge derivatives                                           

and other commodity contracts (17) - - (17)

-

Change in statutory tax rate              -        -        -    (131)     
 - 
                                                                               
                                         31       43       92     (18)     232 
                                                                               
Foreign taxation                                                               
                                                                               
Normal taxation                          77       94      107      300     211 
                                                                               
Under prior year provision                -        6        7        6       7 
                                                                               
Deferred taxation                                                              
                                                                               
Temporary differences                  (32)       43      (1)       45      27 
                                                                               
Change in statutory tax rate              -        -        -       41     
 - 
                                                                               
                                         45      143      113      391     245 
                                                                               
                                                                               
                                                                               
                                         76      186      204      373     477 
                                                                               

Rounding of figures may result in computational discrepancies.

8.    Headline earnings

                                             Quarter ended    Nine months ended
                                                                               
                                      Sep      Jun      Sep       Sep       Sep
                                                                               
                                     2012     2012     2011      2012      2011
                                                                               
                                 Reviewed Reviewed Reviewed  Reviewed  Reviewed
                                                                               
                                               US Dollar million               
                                                                               
The profit attributable to                                                     
equity shareholders has been                                                   
adjusted by the following to                                                   
arrive at headline earnings:                                                   
                                                                               
Profit attributable to equity                                              
   
shareholders                         168      287      456     1,019     1,167 
                                                                               
Impairment of tangible assets                                              
   
(note 5)                               1        1        3         2        14 
                                                                               
Impairment reversal of                                                         
intangible assets (note 5)             -        -        -       (10)        - 
                                                                               
Net loss on disposal and                                                       
derecognition of land, mineral                                                 
rights, tangible assets,                                                       
exploration properties and other                                           
   
(note 5)                               7        3        4        13         2 
                                                                               
Impairment of investments                                                      
(note 5)                               3        -       16         4        18 
                                                                               
Profit on disposal of subsidiary                                           
   
ISS International Limited                                                      
(note 5)                               -        -        -         -        (2)
                                                                               
Net impairment of investment in                                            

associates and joint ventures - 14 - 12

 2 
                                                                               
Special items of associates            -        -        -        (3)        - 
                                                                               
Taxation on items above -                                                      
current portion                       (1)       -        -        (1)        1 
                                                                               
Taxation on items above -                                                      
deferred portion                      (1)       1       (2)        -        (8)
                                                                               
                                     178      307      476     1,036     1,194 
                                                                               
Headline earnings per ordinary                                             
   
share (cents) (1)                     46       79      123       268       309 
                                                                               
Diluted headline earnings per                                                  
ordinary share (cents)(2)(3)          46       66      114       224       254 
                                                                               

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

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

(3)   The September 2011 quarter and the September 2011 nine months ended
diluted earnings per ordinary share and diluted headline earnings per ordinary
share amounts have been corrected to take into account the earnings effect of
the fair value adjustment of the option component of the 3.5% convertible
bonds. The impact of this correction decreased diluted earnings per ordinary
share by 3 cents and 23 cents and diluted headline earnings per ordinary share
by 3 cents and 24 cents respectively.

9.     Number of shares


                                                                       Quarter ended               Nine months ended
                                                                    Sep         Jun         Sep         Sep         Sep
                                                                   2012        2012        2011        2012        2011
                                                               Reviewed    Reviewed    Reviewed    Reviewed    Reviewed
Authorised number of shares:
Ordinary shares of 25 SA cents each                         600,000,000 600,000,000 600,000,000 600,000,000 600,000,000
E ordinary shares of 25 SA cents each                         4,280,000   4,280,000   4,280,000   4,280,000   4,280,000
A redeemable preference shares of 50 SA cents each            2,000,000   2,000,000   2,000,000   2,000,000   2,000,000
B redeemable preference shares of 1 SA cent each              5,000,000   

5,000,000 5,000,000 5,000,000 5,000,000

 
Issued and fully paid number of shares:
Ordinary shares in issue                                    383,110,317 382,812,185 381,850,470 383,110,317 381,850,470
E ordinary shares in issue                                    2,498,230   2,513,952   3,421,848   2,498,230   3,421,848
Total ordinary shares:                                      385,608,547 385,326,137 385,272,318 385,608,547 385,272,318
A redeemable preference shares                                2,000,000   2,000,000   2,000,000   2,000,000   2,000,000
B redeemable preference shares                                  778,896    

778,896 778,896 778,896 778,896

In calculating the basic and diluted number of ordinary shares outstanding forthe period, the following were taken into consideration:

 
Ordinary shares                                             382,854,974 382,507,333 381,644,151 382,593,036 381,471,126
E ordinary shares                                             2,546,474   2,550,514   3,431,215   2,541,262   2,958,298
Fully vested options                                          1,447,978   1,799,218   1,305,486   1,706,404   1,447,478
Weighted average number of shares                           386,849,426 386,857,065 386,380,852 386,840,702 385,876,902
Dilutive potential of share options                           1,510,368   1,353,761   1,290,253   1,545,223   1,321,614
Dilutive potential of convertible bonds (1)                           -  33,524,615  33,524,615  33,524,615  33,524,615
Diluted number of ordinary shares                           388,359,794 421,735,441 421,195,720 421,910,540 420,723,131
(1) The dilutive effect of the convertible bonds are 
not the same for the quarter and the nine months ended 
September 2012 as the effect of the convertible
bonds are anti-dilutive for the quarter.
                                                  

10. Share capital and premium

                                                           As At               
                                                                               
                                                  Sep      Jun     Dec      Sep
                                                                               
                                                 2012     2012    2011     2011
                                                                               
                                             Reviewed Reviewed Audited Reviewed
                                                                               
                                                     US Dollar million         
                                                                               
Balance at beginning of period                  6,782    6,782   6,734   6,734 
                                                                               
Ordinary shares issued                             32       22      57      33 
                                                                               
E ordinary shares issued and cancelled            (1)      (1)     (9)     
(2)
                                                                               
Sub-total                                       6,813    6,803   6,782   6,765 
                                                                               
Redeemable preference shares held within                                   
   
the group                                        (53)     (53)    (53)     (53)
                                                                               
Ordinary shares held within the group            (17)     (17)    (17)    

(22)

                                                                               
E ordinary shares held within the group          (22)     (22)    (23)     (30)
                                                                               
Balance at end of period                        6,721    6,711   6,689   6,660 
                                                                               

Rounding of figures may result in computational discrepancies.

11. Exchange rates

                                           Sep       Jun       Dec       Sep
                                                                            
                                          2012      2012      2011      2011
                                                                            
                                     Unaudited Unaudited Unaudited Unaudited
                                                                            
ZAR/USD average for the year to                                             
date                                     8.04      7.93      7.26      6.97 
                                                                            
ZAR/USD average for the quarter          8.25      8.12      8.09      7.14
                                                                            
ZAR/USD closing                          8.30      8.16      8.04      8.11 
                                                                            
                                                                            
                                                                            
AUD/USD average for the year to                                             
date                                     0.97      0.97      0.97      0.96 
                                                                            
AUD/USD average for the quarter          0.96      0.99      0.99      0.95
                                                                            
AUD/USD closing                          0.96      0.98      0.97      1.04 
                                                                            
                                                                            
                                                                            
BRL/USD average for the year to                                             
date                                     1.92      1.86      1.68      1.63 
                                                                            
BRL/USD average for the quarter          2.03      1.96      1.80      1.64
                                                                            
BRL/USD closing                          2.03      2.02      1.87      1.89 
                                                                            
                                                                            
                                                                            
ARS/USD average for the year to                                             
date                                     4.46      4.39      4.13      4.08 
                                                                            
ARS/USD average for the quarter          4.61      4.44      4.25      4.16
                                                                            
ARS/USD closing                          4.70      4.53      4.30      4.20 
                                                                            

12.    Capital commitments

                                           Sep       Jun      Dec       Sep 
                                                                            
                                          2012      2012     2011      2011 
                                                                            
                                      Reviewed  Reviewed  Audited  Reviewed 
                                                                            
                                                     US Dollar million      
                                                                            
Orders placed and outstanding on                                            
capital contracts at the prevailing                                        
rate of exchange (1)                     1,004        491     202       286 
                                                                            

(1) Includes capital commitments relating to equity-accounted joint ventures.

Liquidity and capital resources

To service the above capital commitments and other operational requirements, the group is dependent on existing cash resources, cash generated from operations and borrowing facilities.

Cash generated from operations is subject to operational, market and other risks. Distributions from operations may be subject to foreign investment, exchange control laws and regulations and the quantity of foreign exchange available in offshore countries. In addition, distributions from joint ventures are subject to the relevant board approval.


The credit facilities and other finance arrangements contain financial
covenants and other similar undertakings. To the extent that external
borrowings are required, the group's covenant performance indicates that
existing financing facilities will be available to meet the above commitments.
To the extent that any of the financing facilities mature in the near future,
the group believes that sufficient measures are in place to ensure that these
facilities can be refinanced.

13. Business combinations

Acquisition of First Uranium (Pty) Limited


On 20 July 2012, AngloGold Ashanti acquired the entire share capital of First
Uranium (Pty) Limited (South Africa), a wholly owned subsidiary of
Toronto-based First Uranium Corporation and the owner of Mine Waste Solutions,
a recently commissioned tailings retreatment operation located in South
Africa's Vaal River region and in the immediate proximity of AngloGold
Ashanti's own tailings facilities, for an aggregate cash consideration of
$335m. The transaction was funded from cash reserves and debt facilities. The
acquisition has been accounted for using the acquisition method.

The fair value of the identifiable assets and liabilities of First Uranium (Pty) Limited as at the date of acquisition was:


                                 2012
                                     
                   US Dollars million
                                     
Assets                               
                                     
Tangible assets                   616
                                     
Listed Investments                  3
                                     
Cash restricted                     3
for use                              
                                     
Deferred tax                       52
                                     
Inventories                       134
                                     
Trade and other                     2
receivables                          
                                     
Cash and cash                       5
equivalents                          
                                     
                                  815
                                     
Liabilities                          
                                     
Deferred tax                       60
                                     
Environmental                     386
rehabilitation and                   
other provisions                     
                                     
Loans from group                  204
companies                            
                                     
Trade and other                    48
payables                             
                                     
                                  698
                                     
Total identifiable                117
net assets at fair                   
value                                
                                     
Purchase                          131
consideration                        
                                     
Goodwill                           14
recognised on                        
acquisition                          
                                     
Analysis of cash                     
flows on                             
acquisition:                         
                                     
Net cash acquired                   5
with the                             
subsidiary                           
                                     
Cash paid - Share               (131)
capital acquired                     
                                     
Cash paid - Loan                (204)
acquired                             
                                     
                                (330)
                                     
From the date of acquisition, First Uranium has contributed $21m of revenue and
a loss of $44m to the net profit before tax of the group which is principally
due to the unrealised portion of the commodity contract. If the combination had
taken place at the beginning of the year, the profit for the period would have
been $1,076m and revenue would have been $5,208m.

The transaction costs of $3m have been expensed and are included in administrative expenses in the income statement and are part of the operating activities in the statement of cash flows.


The goodwill of $14m arising from the acquisition consists largely of the
expected synergies arising from the immediate proximity of AngloGold Ashanti's
own tailings facilities to the Mine Waste Solutions plant that will allow
processing of AngloGold Ashanti's Vaal River tailings without having to build
additional processing facilities. The processing of AngloGold Ashanti tailings
will reduce the environmental liability associated with those tailings. In
addition the company is able to utilise its recently developed processes and
recovery technology for tailings which will increase the ore recovery rates
from both AngloGold Ashanti and First Uranium tailings alike.

None of the goodwill recognised is expected to be deductible for income tax
purposes. There have been no significant movements in provisions except for the
fair value movements related to the commodity contract or goodwill since the
date of acquisition.

Financial assets acquired includes trade and other receivables with a fair value of $2m. All trade and other receivables are expected to be collectible.

14. Contingencies


AngloGold Ashanti's material contingent liabilities and assets at 30 September
are detailed below:

Contingencies and guarantees

                                                              Sep       Sep
                                                                           
                                                             2012      2011
                                                                           
                                                         Reviewed Unaudited
                                                                           
                                                         US Dollar million 
                                                                           
Contingent liabilities                                                     
                                                                           
Groundwater pollution  (1)                                      -         -
                                                                           
Deep groundwater pollution - South Africa (2)                   -         -
                                                                           
Indirect taxes - Ghana (3)                                     21        11
                                                                           
ODMWA litigation (4)                                            -         -
                                                                           
Other tax disputes - AngloGold Ashanti Brasil Mineração                    
Ltda(5)                                                        33        26
                                                                           
Sales tax on gold deliveries - Mineração Serra Grande                      
S.A.(6)                                                       172        84
                                                                           
Other tax disputes - Mineração Serra Grande S.A.(7)            18        
9
                                                                           
Litigation - Ghana (8)                                         32         -
                                                                           
Contingent assets                                                          
                                                                           
Indemnity - Kinross Gold Corporation (9)                     (98)         -
                                                                           
Royalty - Boddington Gold Mine (10)                             -         -
                                                                           
Royalty - Tau Lekoa Gold Mine(11)                               -         -
                                                                           
Financial Guarantees                                                       
                                                                           
Oro Group (Pty) Limited (12)                                   12        12
                                                                           
                                                              190       142
                                                                           

(1) Groundwater pollution - AngloGold Ashanti has identified groundwater
contamination plumes at certain of its operations, which have occurred
primarily as a result of seepage. Numerous scientific, technical and legal
studies have been undertaken to assist in determining the extent of the
contamination and to find sustainable remediation solutions. The group has
instituted processes to reduce future potential seepage and it has been
demonstrated that Monitored Natural Attenuation (MNA) by the existing
environment will contribute to improvements in some instances. Furthermore,
literature reviews, field trials and base line modelling techniques suggest,
but have not yet proven, that the use of phyto-technologies can address the
soil and groundwater contamination. Subject to the completion of trials and the
technology being a proven remediation technique, no reliable estimate can be
made for the obligation.

(2) Deep groundwater pollution - The company has identified a flooding and
future pollution risk posed by deep groundwater. Various studies have been
undertaken by AngloGold Ashanti since 1999. Due to the interconnected nature of
mining operations, any proposed solution needs to be a combined one supported
by all the mines located in these gold fields. As a result, in South Africa,
the Department of Mineral Resources and affected mining companies are now
involved in the development of a "Regional Mine Closure Strategy". In view of
the limitation of current information for the estimation of a liability, no
reliable estimate can be made for the obligation.

(3) Indirect taxes - AngloGold Ashanti (Ghana) Limited received a tax
assessment for $21m (2011: $11m) during September 2009 in respect of 2006, 2007
and 2008 tax years, following an audit by the tax authorities related to
indirect taxes on various items. Management is of the opinion that the indirect
taxes are not payable and the company has lodged an objection.

(4)   Occupational Diseases in Mines and Works Act, 1973 (ODMWA) litigation -
The case of Mr Thembekile Mankayi was heard in the High Court of South Africa
in June 2008, and an appeal heard in the Supreme Court of Appeal in 2010. In
both instances judgement was awarded in favour of AngloGold Ashanti Limited on
the basis that an employer is indemnified against such a claim for damages by
virtue of the provisions of section 35 of the Compensation for Occupational
Injuries and Diseases Act, 1993 (COIDA). A further appeal that was lodged by Mr
Mankayi was heard in the Constitutional Court in 2010. Judgement in the
Constitutional Court was handed down on 3 March 2011. The Constitutional Court
held that section 35 of COIDA does not indemnify the employer against such
claims. Mr Mankayi passed away subsequent to the hearing in the Supreme Court
of Appeal. Following the Constitutional Court judgement, Mr Mankayi's executor
may proceed with his case in the High Court. This will comprise, amongst
others, providing evidence showing that Mr Mankayi contracted silicosis as a
result of negligent conduct on the part of AngloGold Ashanti Limited.

On or about 21 August 2012, AngloGold Ashanti Limited was served with motion
proceedings in Johannesburg relating to silicosis and other occupational lung
diseases ("OLD"). The motion proceedings seek to have the court certify a class
of mineworkers with OLD who previously worked or continue to work in one of six
gold mines currently within AngloGold Ashanti's South African operations. In
the event the class is certified, such class of workers would institute actions
by way of a summons against AngloGold Ashanti Limited and potentially other
defendants for amounts as yet unspecified. At least one similar class action
has been threatened against AngloGold Ashanti Limited by another law firm. As
of 30 September 2012, a further 31 individual claims have been received and
AngloGold Ashanti has filed a notice of intention to oppose the claims. It is
possible that additional class actions and/or individual claims relating to
silicosis and/or other OLD will be filed against AngloGold Ashanti Limited in
the future.

AngloGold Ashanti will defend these and any other future claims, if and when
filed, on their merits. Should AngloGold Ashanti be unsuccessful in defending
any such claims, or in otherwise favourably resolving perceived deficiencies in
the national occupational disease compensation framework that were identified
in an earlier decision by the Constitutional Court, such matters would have an
adverse effect on AngloGold Ashanti's financial position, which could be
material. In view of the limitation of current information for the estimation
of any liability that may arise as a result of such claims, no reasonable
estimate can be made of any such potential liability.

(5) Other tax disputes - In November 2007, the Departamento Nacional de
Produção Mineral (DNPM), a Brazilian federal mining authority, issued a tax
assessment against AngloGold Ashanti Brazil Mineração (AABM) in the amount of
$21m (2011: $21m) relating to the calculation and payment by AABM of the
financial contribution on mining exploitation (CFEM) in the period from 1991 to
2006. AngloGold Ashanti Limited's subsidiaries in Brazil are involved in
various other disputes with tax authorities. These disputes involve federal tax
assessments including income tax, royalties, social contributions and annual
property tax. The amount involved is approximately $12m (2011: $5m).

(6) Sales tax on gold deliveries - In 2006, Mineração Serra Grande S.A. (MSG),
received two tax assessments from the State of Goiás related to payments of
state sales taxes at the rate of 12% on gold deliveries for export from one
Brazilian state to another during the period from February 2004 to the end of
May 2006. The first and second assessments are approximately $106m (2011:
attributable share $52m) and $66m (2011: attributable share $32m) respectively.
In November 2006, the administrative council's second chamber ruled in favour
of MSG and fully cancelled the tax liability related to the first period. In
July 2011, the administrative council's second chamber ruled in favour of MSG
and fully cancelled the tax liability related to the second period. The State
of Goiás has appealed to the full board of the State of Goiás tax
administrative council. In November 2011 (first case) and June 2012 (second
case), the administrative council's full board approved the suspension of
proceedings and the remittance of the matter to the Department of Supervision
of Foreign Trade (COMEX) for review and verification. The first case was
already returned to the COMEX and the second case was sent in June 2012. The
company believes both assessments are in violation of federal legislation on
sales taxes.

(7) Other tax disputes - MSG received a tax assessment in October 2003 from the
State of Minas Gerais related to sales taxes on gold. The tax administrators
rejected the company's appeal against the assessment. The company is now
appealing the dismissal of the case. The assessment is approximately $18m
(2011: attributable share $9m).

(8) AngloGold Ashanti Ghana terminated its longstanding Underground Development
Contract with Mining and Building Construction Company (MBC). MBC has submitted
various claims against AngloGold Ashanti Ghana arising out of this contract to
the value of $32m. The company intends to defend against the claims.

(9) Indemnity - As part of the acquisition by AngloGold Ashanti of the remaining 50% interest in MSG during June 2012, Kinross Gold Corporation (Kinross) has provided an indemnity to a maximum amount of BRL255m

($126m at quarter end exchange rates) against the specific exposures discussed in items 6 and 7 above.


(10) Royalty - As a result of the sale of the interest in the Boddington Gold
Mine joint venture during 2009, the group is entitled to receive a royalty on
any gold recovered or produced by the Boddington Gold Mine, where the gold
price is in excess of Boddington Gold Mine's total cash cost plus $600/oz. The
royalty commenced on 1 July 2010 and is capped at a total amount of $100m, of
which $45m (2011: $26m) has been recorded to date. Royalties of nil (2011: $9m)
were recorded during the quarter as a result of the conditions mentioned above
not being met.

(11) Royalty - As a result of the sale of the interest in the Tau Lekoa Gold
Mine during 2010, the group is entitled to receive a royalty on the production
of a total of 1.5Moz by the Tau Lekoa Gold Mine in the event that the average
monthly rand price of gold exceeds R180,000/kg (subject to an inflation
adjustment). Where the average monthly rand price of gold does not exceed
R180,000/kg (subject to an inflation adjustment), the ounces produced in that
quarter do not count towards the total 1.5Moz upon which the royalty is
payable.

The royalty will be determined at 3% of the net revenue (being gross revenue
less State royalties) generated by the Tau Lekoa assets. Royalties on 273,019oz
produced have been received to date. Royalties of $1m (2011: $1m) were received
during the quarter.

(12) Provision of surety - The company has provided sureties in favour of a
lender on a gold loan facility with its affiliate Oro Group (Pty) Limited and
one of its subsidiaries to a maximum value of $12m (2011: $12m). The suretyship
agreements have a termination notice period of 90 days.

15. Borrowings

AngloGold Ashanti's borrowings are interest bearing.

16. Change in presentation currency


Effective 1 January 2012, the group changed the presentation currency of its
results from reporting in US Dollars and South African Rands to reporting only
in US Dollars. Management has concluded that the change in presentation
currency will result in more reliable and relevant information than the prior
position of reporting in two currencies. Management considered the following
factors: the majority of AngloGold Ashanti's operating mines use US Dollars as
their functional currency; the majority of AngloGold Ashanti's annual
production and reserves are derived from non-South African Rand denominated
countries; the majority of AngloGold Ashanti shareholders are not domiciled in
a South African Rand denominated country; management prepare investor
presentations and analysis in US Dollars only; and the management accounts,
except for South Africa which is reported in dual currency, are reported to the
Chief Operating Decision Maker in US Dollars. The change in presentation
currency has no effect on comparative information.

17. Announcements


On 23 July 2012, AngloGold Ashanti announced that it had signed a new US$1bn,
five-year unsecured revolving credit facility (RCF) maturing in July 2017 with
a banking syndicate. The facility replaced the four-year, US$1bn unsecured RCF
maturing in April 2014.

On 25 July 2012, AngloGold Ashanti announced the pricing of an offering of
$750m aggregate principal amount of 5.125% notes due 2022. The notes were
issued by AngloGold Ashanti Holdings plc, a wholly owned subsidiary of the
company, at an issue price of 99.398%. The company received net proceeds from
the offering of $737m, after deducting discounts and estimated expenses. The
notes are unsecured and fully and unconditionally guaranteed by the company.

On 14 August 2012, AngloGold Ashanti announced that Maria Esperanza Sanz Perez,
Group General Counsel, will also assume the role of Company Secretary following
the retirement of Lynda Eatwell. The appointment was effective 1 September
2012.

On 21 September 2012, AngloGold Ashanti announced an unprotected strike at
Kopanang operations which prevented the night shift from taking place on 20
September 2012. Subsequently, on 25 September 2012, AngloGold announced that
workers at South African operations (West Wits and Vaal River) had embarked on
an unprotected strike, joining those at Kopanang mine, preventing the
commencement of the night shift on 25 September 2012.

On 10 October 2012, the JSE Limited granted AngloGold Ashanti the listing of
its Senior Unsecured Fixed Rate Notes of R300m, due 14 January 2013, and Senior
Unsecured Floating Rate Notes of R700m, due 11 October 2013, under its R10bn
Domestic Medium Term Note Programme dated 29 June 2012.

On 13 October 2012, AngloGold Ashanti terminated its underground development
contract with Mining and Building Construction Company (MBC) at the Obuasi mine
in Ghana. AngloGold Ashanti is committed to ensuring that the estimated 900
members of MBC's workforce directly affected by the termination of the
underground development contract receive their current due entitlements. The
remaining surface contracts at Obuasi between the two parties remain intact.

On 6 November 2012, AngloGold Ashanti announced a second sit-in by dayshift
employees at Mponeng mine which has again forced management to halt mining and
processing activity. These sit-ins follow the unprotected strike, which started
on 25 September 2012. Work has continued as normal at AngloGold Ashanti's
remaining South African mines.

18. Dividend


The salient details Dividend No. 114 for the quarter ended 30 June 2012 paid by
AngloGold Ashanti Limited (Registration Number 1944/017354/06) is shown below:

                         Rate of      Gross Withholding      Net      Date of
                        Exchange   dividend  tax at 15% dividend Payment 2012
                                   declared                 paid             
                                                                             
South African cents                     100                                  
per ordinary share             -                     15       85 14 September
                                                                             
UK pence per ordinary  R13.13825     7.6114                      14 September
share                        /£1                 1.1417   6.4697             
                                                                             
Australian cents per                  2.306                      14 September
CHESS Depositary             R1/                                             
Interest (CDI)         A$0.11530                  0.346    1.960             
                                                                             
Ghana cedi per              R1/¢     0.2358                      14 September
ordinary share            0.2358                  0.035  0.20043             
                                                                             
Ghana cedi per                      0.00236                                  
Ghanaian Depositary         R1/¢                                             
Share (GhDS)              0.2358                0.00035 0.002004 17 September
                                                                             
US cents per American  R8.262276    12.1032                                
 
Depositary Share (ADS)       /$1                 1.8155  10.2877 24 September
                                                                             

Each CDI represents one-fifth of an ordinary share, and 100 GhDSs represents one ordinary share. Each ADS represents one ordinary share.


Quarter ended 30 June 2012 Dividend No. E14 of 50 South African cents (gross),
or 42.5 South African cents (net) was paid to holders of E ordinary shares on
14 September 2012, being those employees participating in the Bokamoso ESOP and
50 South African cents (gross) was paid to Izingwe Holdings (Proprietary)
Limited on the same day.

The directors of AngloGold Ashanti Limited (Registration Number 1944/017354/06)
declared Dividend No. 115 for the quarter ended 30 September 2012 as detailed
below. In terms of the withholding tax on dividends which became effective on 1
April 2012, the following additional information is disclosed:

Dividends have been declared out of total reserves                         

Rate of dividend declared per ordinary share in South African cents

 50
(gross)                                                                        
                                                                               
Dividends tax rate applicable to shareholders liable to pay the            
15%
dividend tax                                                                   
                                                                               
STC credits utilised in South African cents                                

Nil

Rate in South African cents (net) where dividend tax at 15% is            
42.5
payable                                                                        
                                                                               
The ordinary shares in issue of AngloGold Ashanti Limited at the    383,285,642
date of declaration is                                                         
                                                                               
The E ordinary shares in issue of AngloGold Ashanti Limited at the    1,620,158
date of declaration is                                                         
                                                                               
AngloGold Ashanti Limited's tax reference number                     

9640006608

In compliance with the requirements of Strate, given the company's primary listing on the JSE, the salient dates for payment of the dividend are as follows:

To holders of ordinary shares and to holders of CHESS Depositary Interests 
   
(CDIs)                                                                         
                                                                               
Each CDI represents one-fifth of an ordinary share.                        
   
                                                                               
                                                                           2012
                                                                               
Currency conversion date for UK pounds, Australian dollars            Thursday,
and Ghanaian cedis                                                  22 November
                                                                               
Last date to trade ordinary shares cum dividend                         Friday,
                                                                    23 November
                                                                               
Last date to register transfers of certificated securities              Friday,
cum dividend                                                        23 November
                                                                               
Ordinary shares trade ex-dividend                                       Monday,
                                                                    26 November
                                                                               
Record date                                                             Friday,
                                                                    30 November
                                                                               
Payment date                                                            Friday,
                                                                    14 December
                                                                               
On the payment date, dividends due to holders of certificated securities on the
South African and United Kingdom share registers will be electronically
transferred to shareholders' bank accounts. Given the increasing incidences of
fraud with respect to cheque payments, the company has ceased the payment of
dividends by way of cheque.

Shareholders are requested to notify the relevant share registrars with banking
details to enable future dividends to be paid via electronic funds transfer.
Refer to the back cover for share registrar details.

Dividends in respect of dematerialised shareholdings will be credited to shareholders' accounts with the relevant CSDP or broker.

To comply with further requirements of Strate, between Monday, 26 November and
Friday, 30 November 2012, both days inclusive, no transfers between the South
African, United Kingdom, Australian and Ghana share registers will be permitted
and no ordinary shares pertaining to the South African share register may be
dematerialised or rematerialised.

To holders of American Depositary Shares

Each American Depositary Share (ADS) represents one ordinary share.


                                                           2012
                                                               

Ex dividend on New York Stock Exchange Wednesday, 28 November

                                                               
Record date                                 Friday, 30 November
                                                               

Approximate date for currency conversion Friday, 14 December

Approximate payment date of dividend Monday, 24 December

Assuming an exchange rate of R8.6170/$, the gross dividend payable per ADS,
which is subject to a 15% South African withholding tax, is equivalent to 6 US
cents. However the actual rate of payment will depend on the exchange rate on
the date for currency conversion.

To holders of Ghanaian Depositary Shares (GhDSs) 100 GhDSs represent one ordinary share.


                                                                     2012
                                                                         

Last date to trade and to register GhDSs cum dividend Friday, 23 November

                                                                         
GhDSs trade ex-dividend                               Monday, 26 November
                                                                         
Record date                                           Friday, 30 November
                                                                         
Approximate payment date of dividend                  Monday, 17 December
                                                                         

Assuming an exchange rate of R1/0.21815¢, the gross dividend payable per share,
which is subject to a 15% South African withholding tax, is equivalent to
0.1091 cedis. However, the actual rate of payment will depend on the exchange
rate on the date for currency conversion. In Ghana, the authorities have
determined that dividends payable to residents on the Ghana share register be
subject to a final withholding tax at a rate of 8%.

In addition, the directors declared Dividend No. E15 for the quarter ended 30
September 2012, of 25 South African cents per E ordinary share, payable to
employees participating in the Bokamoso ESOP, which dividend is subject to a
15% withholding tax, and 25 South African cents per E ordinary share payable to
Izingwe Holdings (Proprietary) Limited. These dividends will be paid on Friday,
14 December 2012.

By order of the Board

T T MBOWENI M CUTIFANI             
                                   

Chairman Chief Executive Officer

                                   

6 November 2012

Non-GAAP disclosure

From time to time AngloGold Ashanti Limited may publicly disclose certain "Non-GAAP" financial measures in the course of its financial presentations,

earnings releases, earnings conference calls and otherwise.

The group uses certain Non-GAAP performance measures and ratios in managing the business and may provide users of this financial information with

additional meaningful comparisons between current results and results in prior operating periods. Non-GAAP financial measures should be viewed in

addition to, and not as an alternative to, the reported operating results or any other measure of performance prepared in accordance with IFRS. In addition,

the presentation of these measures may not be comparable to similarly titled measures that other companies use.

Non-GAAP disclosure

From time to time AngloGold Ashanti Limited may publicly disclose certain "Non-GAAP" financial measures in the course of its financial presentations, earnings releases, earnings conference calls and otherwise.

The group uses certain Non-GAAP performance measures and ratios in managing the
business and may provide users of this financial information with additional
meaningful comparisons between current results and results in prior operating
periods.  Non-GAAP financial measures should be viewed in addition to, and not
as an alternative to, the reported operating results or any other measure of
performance prepared in accordance with IFRS.  In addition, the presentation of
these measures may not be comparable to similarly titled measures that other
companies use.

Non-GAAP disclosure

From time to time AngloGold Ashanti Limited may publicly disclose certain "Non-GAAP" financial measures in the course of its financial presentations, earnings releases, earnings conference calls and otherwise.

The group uses certain Non-GAAP performance measures and ratios in managing the
business and may provide users of this financial information with additional
meaningful comparisons between current results and results in prior operating
periods.  Non-GAAP financial measures should be viewed in addition to, and not
as an alternative to, the reported operating results or any other measure of
performance prepared in accordance with IFRS.  In addition, the presentation of
these measures may not be comparable to similarly titled measures that other
companies use.

A Adjusted headline earnings              Quarter                Nine      
   
                                            ended              months          
                                                                ended          
                                                                               
                                    Sep       Jun       Sep       Sep       Sep
                                                                               
                                   2012      2012      2011      2012      2011
                                                                               
                              Unaudited Unaudited Unaudited Unaudited Unaudited
                                                                               
                                                  US Dollar                    
                                                    Million                    
                                                                               
  Headline earnings (note 8)        178       307       476     1 036     1 194
                                                                               
  Loss on unrealised                 61         -         1        61         1
  non-hedge derivatives and                                                    
  other commodity contracts                                                    
                                                                               
  Deferred tax on unrealised       (17)         -         -      (17)         -
  non-hedge derivatives and                                                    
  other commodity contracts                                                    
  (note 7)                                                                     
                                                                               
  Fair value adjustment on            2      (24)      (11)      (66)      (98)
  option component of                                                          
  convertible bonds                                                            
                                                                               
  Fair value adjustment on           11      (29)       (9)      (97)     

(95)

  mandatory convertible bonds                                                  
                                                                               

Adjusted headline earnings 235 253 457 917 1 002

Adjusted headline earnings 61 65 118 237 260

  per ordinary share (cents)                                                   
  (1)                                                                          
                                                                               
  (1) Calculated on the basic                                                  
  weighted average number of                                                   
  ordinary shares.                                                             
                                                                               
B Adjusted gross profit                   Quarter                Nine          
                                            ended              months          
                                                                ended          
                                                                               
                                    Sep       Jun       Sep       Sep       Sep
                                                                               
                                   2012      2012      2011      2012      2011
                                                                               
                              Unaudited Unaudited Unaudited Unaudited Unaudited
                                                                               
  Reconciliation of gross                                                      
  profit to adjusted gross                                                     
  profit: (1)                                                                  
                                                                               
  Gross profit                      512       633       815     1 862     1 941
                                                                               
  Loss on unrealised                 61         -         1        61         1
  non-hedge derivatives and                                                    
  other commodity contracts                                                    
                                                                               

Adjusted gross profit (1) 573 633 816 1 923 1 942

                                                                               
  (1) Adjusted gross profit                                                    
  excludes unrealised                                                          
  non-hedge derivatives and                                                    
  other commodity contracts.                                                   
                                                                               
C Price received                          Quarter                Nine          
                                            ended              months          
                                                                ended          
                                                                               
                                    Sep       Jun       Sep       Sep       Sep
                                                                               
                                   2012      2012      2011      2012      2011
                                                                               
                              Unaudited Unaudited Unaudited Unaudited Unaudited
                                                                               
                                                  US Dollar                    
                                                  Million /                    
                                                   Imperial                    
                                                                               
  Gold income (note 2)            1 629     1 619     1 793     4 995     4 791
                                                                               
  Adjusted for                     (19)      (45)      (49)     (115)     (130)
  non-controlling interests                                                    
                                                                               
                                  1 610     1 574     1 744     4 840     4 661
                                                                               
  Realised loss on other              5         -         -         5         -
  commodity contracts                                                          
                                                                               
  Associates and equity              80        81       106       247       282
  accounted joint ventures'                                                    
  share of gold income                                                         
  including realised                                                           
  non-hedge derivatives                                                        
                                                                               

Attributable gold income 1 695 1 655 1 850 5 092 4 943

  including realised                                                           
  non-hedge derivatives                                                        
                                                                               
  Attributable gold sold    -     1 029     1 030     1 080     3 088     3 212
  oz (000)                                                                     
                                                                               
  Revenue price per unit - $/     1 648     1 607     1 713     1 649     1 539
  oz                                                                           
                                                                               
  Rounding of figures may                                                      
  result in computational                                                      
  discrepancies.                                                               
                                                                               
                                          Quarter                Nine          
                                            ended              months          
                                                                ended          
                                                                               
                                    Sep       Jun       Sep       Sep       Sep
                                                                               
                                   2012      2012      2011      2012      2011
                                                                               
                              Unaudited Unaudited Unaudited Unaudited Unaudited
                                                                               
                                                  US Dollar                    
                                                  Million /                    
                                                   Imperial                    
                                                                               
D Total costs                                                                  
                                                                               
  Total cash costs (note 3)         867       825       784     2 450     2 231
                                                                               
  Adjusted for                     (26)      (23)      (36)      (80)      (85)
  non-controlling interests                                                    
  and non-gold producing                                                       
  companies                                                                    
                                                                               
  Associates' and equity             51        58        56       161       157
  accounted joint ventures'                                                    
  share of total cash costs                                                    
                                                                               
  Total cash costs adjusted         892       860       804     2 531     2 303
  for non-controlling                                                          
  interests and non-gold                                                       
  producing companies                                                          
                                                                               

Retrenchment costs (note 3) 2 3 4 8

10

                                                                               
  Rehabilitation and other           16        25        11        50       

72

  non-cash costs (note 3)                                                      
                                                                               
  Amortisation of tangible          202       195       192       588       566
  assets (note 3)                                                              
                                                                               
  Amortisation of intangible          1         1         1         3         2
  assets (note 3)                                                              
                                                                               
  Adjusted for                      (3)      (11)       (7)      (19)     

(31)

  non-controlling interests                                                    
  and non-gold producing                                                       
  companies                                                                    
                                                                               
  Associates and equity               3         2         1         7         6
  accounted joint ventures'                                                    
  share of production costs                                                    
                                                                               
  Total production costs          1 113     1 075     1 007     3 168     2 928
  adjusted for                                                                 
  non-controlling interests                                                    
  and non-gold producing                                                       
  companies                                                                    
                                                                               

Gold produced - oz (000) 1 030 1 073 1 092 3 084 3 217

                                                                               
  Total cash cost per unit -        866       801       737       821       716
  $/oz                                                                         
                                                                               
  Total production cost per       1 081     1 002       922     1 027       910
  unit - $/oz                                                                  
                                                                               
E EBITDA                                                                       
                                                                               
  Operating profit                  305       456       648     1 344     1 530
                                                                               
  Amortisation of tangible          202       195       192       588       565
  assets (note 3)                                                              
                                                                               

Amortisation of intangible 1 1 1 3

  2
  assets (note 3)                                                              
                                                                               
  Impairment of tangible              1         1         3         2        14
  assets (note 5)                                                              
                                                                               
  Impairment reversal of              -         -         -      (10)         -
  intangible assets (note 5)                                                   
                                                                               
  Loss on unrealised                 61         -         1        61         1
  non-hedge derivatives and                                                    
  other commodity contracts                                                    
                                                                               
  Share of associates' EBITDA        16        12        37        60       103
                                                                               
  Impairment of investments           3         -        16         4        18
  (note 5)                                                                     
                                                                               
  Net loss on disposal and            7         3         4        13         2
  derecognition of assets                                                      
  (note 5)                                                                     
                                                                               
  Profit on disposal of ISS           -         -         -         -       (2)
  International Limited (note                                                  
  5)                                                                           
                                                                               
                                    597       668       902     2 065     2 234
                                                                               
F Interest cover                                                               
                                                                               
  EBITDA (note D)                   597       668       902     2 065     2 234
                                                                               

Finance costs (note 6) (1) 50 36 34 121 107

                                                                               
  Capitalised finance costs           4         2         1         8         1
                                                                               
                                     54        38        35       129       108
                                                                               
  Interest cover - times             11        18        26        16       

21

                                                                               
  (1) The increase in the                                                      
  finance costs is due to the                                                  
  acceleration of the old RCF                                                  
  fees and the finance charge                                                  
  of the new $750m rated                                                       
  bond.                                                                        
                                                                               
                                            As at     As at     As at     As at
                                                                               
                                              Sep       Jun       Dec       Sep
                                                                               
                                             2012      2012      2011      2011
                                                                               
                                        Unaudited Unaudited Unaudited Unaudited
                                                                               
                                                  US Dollar                    
                                                    million                    
                                                                               
G Net asset value - cents per                                              
   
  share                                                                        
                                                                               
  Total equity                              5 742     5 637     5 166     4 778
                                                                               
  Mandatory convertible bonds                 656       647       760       771
                                                                               
  Number of ordinary shares                 6 398     6 284     5 926     5 549
  in issue - million (note 9)                                                  
                                                                               
                                              386       385       385       385
                                                                               
  Net asset value - cents per               1 659     1 631     1 540     1 440
  share                                                                        
                                                                               
  Total equity                              5 742     5 637     5 166     4 778
                                                                               
  Mandatory convertible bonds                 656       647       760       771
                                                                               
  Intangible assets                         (289)     (243)     (210)     (191)
                                                                               
                                            6 109     6 041     5 716     5 358
                                                                               
  Number of ordinary shares                   386       385       385       385
  in issue - million (note 9)                                                  
                                                                               
  Net tangible asset value -                1 584     1 568     1 485     1
391
  cents per share                                                              
                                                                               
H Net debt                                                                     
                                                                               
  Borrowings - long-term                    2 708     1 847     1 698     1 670
  portion                                                                      
                                                                               
  Borrowings - short-term                      57        30        30        45
  portion                                                                      
                                                                               
  Total borrowings (1)                      2 765     1 877     1 728     1 715
                                                                               
  Corporate office lease                     (32)      (33)      (33)     

(32)

                                                                               
  Unamortised portion of the                   52        78        85       

72

  convertible and rated bonds                                                  
                                                                               
  Cash restricted for use                    (93)      (56)      (58)      (60)
                                                                               
  Cash and cash equivalents               (1 123)     (987)   (1 112)   (1 075)
                                                                               
  Net debt excluding                        1 569       879       610       621
  mandatory convertible bonds                                                  
                                                                               
  (1) Borrowings exclude the                                                   
  mandatory convertible bonds                                                  
  (note H).                                                                    
                                                                               
  Rounding of figures may                                                      
  result in computational                                                      
  discrepancies.                                                               
                                                                               

OPERATING RESULTS                                 South Africa Continental Australasia Americas  Total
QUARTER ENDED SEPTEMBER 2012                                        Africa 
                     group
                                                                                                      
                                                                                                      
                                                                                                      
UNDERGROUND OPERATION                                                                                 
                                                                                                      
Area mined                        - 000 m2                 237           -           -        -    237
                                                                                                      
Mined                             - 000 tonnes           1 480         386         417      650  2 932
                                                                                                      
Milled / Treated                  - 000 tonnes           1 309         429         541      749  3 028
                                                                                                      
Recovered grade                   - oz/ton               0.221       0.124       0.057    0.146  0.160
                                                                                                      
                                  - g/tonne               7.58        4.26        1.97     5.00   5.47
                                                                                                      
Gold produced                     - oz (000)               319          59          34      120    533
                                                                                                      
                                                                                                      
                                                                                                      
SURFACE AND DUMP RECLAMATION                                                                          
                                                                                                      
Milled / Treated                  - 000 tonnes           6 687          36 

- - 6 722

Recovered grade                   - oz/ton               0.007       0.025 
         -        -  0.007
                                                                                                      
                                  - g/tonne               0.25        0.85           -        -   0.25
                                                                                                      
Gold produced                     - oz (000)                54           1           -        -     55
                                                                                                      
                                                                                                      
                                                                                                      
OPEN-PIT OPERATION                                                                                    
                                                                                                      
Volume mined                      - 000 bcm                  -      11 661       1 369        - 13 030
                                                                                                      
Mined                             - 000 tonnes               -      27 865       3 312    6 244 37 421
                                                                                                      
Treated                           - 000 tonnes               -       6 151         293      268  6 712
                                                                                                      
Stripping ratio                   - ratio                    -        4.12 

16.66 19.05 5.29

Recovered grade                   - oz/ton                   -       0.043       0.091    0.154  0.049
                                                                                                      
                                  - g/tonne                  -        1.47        3.12     5.29   1.69
                                                                                                      
Gold produced                     - oz (000)                 -         290          29       46    365
                                                                                                      
                                                                                                      
                                                                                                      
HEAP LEACH OPERATION                                                                                  
                                                                                                      
Mined                             - 000 tonnes               -       2 078           -   15 110 17 188
                                                                                                      
Placed                            - 000 tonnes               -         315           -    5 917  6 232
                                                                                                      
Stripping ratio                   - ratio                    -       12.60 

- 1.74 2.03

Recovered grade                   - oz/ton                   -       0.024           -    0.012  0.013
                                                                                                      
                                  - g/tonne                  -        0.83           -     0.42   0.44
                                                                                                      
Gold placed                       - oz (000)                 -           8           -       79     88
                                                                                                      
Gold produced                     - oz (000)                 -           7           -       71     77
                                                                                                      
                                                                                                      
                                                                                                      
PRODUCTIVITY PER EMPLOYEE                                                  
                          
                                                                                                      
Actual                            - oz/TEC                   5          10          46       16      8
                                                                                                      
                                                                                                      
                                                                                                      
TOTAL                                                                                                 
                                                                                                      
Subsidiaries' gold produced       - oz (000)               373         307 

64 237 980

Joint ventures' gold produced     - oz (000)                 -          50 
         -        -     50
                                                                                                      
Attributable gold produced        - oz (000)               373         357          64      237  1 030
                                                                                                      
Minority gold produced            - oz (000)                 -          11           -        5     15
                                                                                                      
                                                                                                      
                                                                                                      
Subsidiaries' gold sold           - oz (000)               370         296          61      253    980
                                                                                                      
Joint ventures' gold sold         - oz (000)                 -          49           -        -     49
                                                                                                      
Attributable gold sold            - oz (000)               370         345          61      253  1 029
                                                                                                      
Minority gold sold                - oz (000)                 -          10           -        5     15
                                                                                                      
                                                                                                      
                                                                                                      
Spot price                        - $/oz                 1 653       1 653       1 653    1 653  1 653
                                                                                                      
Price received                    - $/oz sold            1 652       1 642       1 646    1 652  1 648
                                                                                                      
Total cash costs                  - $/oz produced          849         916         937      798    866
                                                                                                      
Total production costs            - $/oz produced        1 082       1 093       1 092    1 051  1 081
                                                                                                      
Recovered grade calculated using a short ton.                                                         
                                                                                                      
Rounding of figures may result in computational discrepancies.             
                          
                                                                                                      

FINANCIAL RESULTS                               South Africa Continental Australasia Americas
QUARTER ENDED SEPTEMBER 2012 $'m                                  Africa   
                 
                                                                                             
Gold income                                              606         582         101      421
                                                                                             
Cash costs                                             (318)       (338)        (60)    (237)
                                                                                             
By-products revenue                                        1           1           -       25
                                                                                             
Total cash costs                                       (317)       (337)        (60)    (212)
                                                                                             
Retrenchment costs                                       (1)           -           -      (1)
                                                                                             
Rehabilitation and other non-cash costs                  (5)         (7)   
       -      (4)
                                                                                             
Amortisation of assets                                  (80)        (58)        (10)     (56)
                                                                                             
Total production costs                                 (404)       (401)        (69)    (274)
                                                                                             
Inventory change                                           6          16           5        7
                                                                                             
Cost of sales                                          (398)       (385)        (64)    (267)
                                                                                             
Adjusted gross profit (loss)                             207         197          36      154
                                                                                             
Unrealised non-hedge derivatives and other              (61)           -   
       -        -
commodity contracts                                                                          
                                                                                             
Gross profit (loss)                                      147         197          36      154
                                                                                             
Corporate and other costs                                (2)         (4)           -      (7)
                                                                                             
Exploration and evaluation costs                         (3)        (30)   
    (24)     (42)
                                                                                             
Intercompany transactions                                  -        (22)         (3)      (1)
                                                                                             
Special items                                            (2)         (9)        (14)      (1)
                                                                                             
Operating profit (loss)                                  139         132         (4)      104
                                                                                             
Net finance (costs) income, unwinding                    (2)         (1)         (1)        -
ofobligations and fair value adjustments                                   
                 
                                                                                             
Exchange gain (loss)                                       -         (5)           -      (2)
                                                                                             
Share of equity accounted investments profit               -           -   
       -     (10)
                                                                                             
Profit (loss) before taxation                            136         127         (5)       91
                                                                                             
Taxation                                                (13)        (68)           1       15
                                                                                             
Profit (loss) for the period                             124          59         (5)      106
                                                                                             
Equity shareholders                                      124          62         (5)      104
                                                                                             
Non-controlling interests                                  -         (4)           -        2
                                                                                             
Operating profit (loss)                                  139         132         (4)      104
                                                                                             
Unrealised non-hedge derivatives and other                61           -   
       -        -
commodity contracts                                                                          
                                                                                             
Loss on realised other commodity contracts                 -           -   
       -        -
                                                                                             
Intercompany transactions                                  -          22           3        1
                                                                                             
Special items                                              4           7           3        1
                                                                                             
Share of associates' EBIT                                  -           -           -     (10)
                                                                                             
EBIT                                                     203         161           2       95
                                                                                             
Amortisation of assets                                    80          58          10       56
                                                                                             
Share of associates' amortisation                          -           -   
       -        -
                                                                                             
EBITDA                                                   283         218          12      151
                                                                                             
Profit (loss) attributable to equity                     124          62   
     (5)      104
shareholders                                                                                 
                                                                                             
Special items                                              4           7           3        1
                                                                                             
Share of associates' special items                         -           -   
       -        -
                                                                                             
Taxation on items above                                  (1)           -         (1)        -
                                                                                             
Headline earnings (loss)                                 126          69         (3)      104
                                                                                             
Unrealised non-hedge derivatives and other                61           -   
       -        -
commodity contracts                                                                          
                                                                                             
Deferred tax on unrealised non-hedge                    (17)           -           -        -
derivatives and other commodity contracts                                                    
                                                                                             
Fair value adjustment on option component of               -           -   
       -        -
convertible bonds                                                                            
                                                                                             
Fair value adjustment on mandatory convertible             -           -   
       -        -
bonds                                                                                        
                                                                                             
Adjusted headline earnings (loss)                        170          69   

(3) 104

Ore reserve development capital                           67          10   
       3       21
                                                                                             
Stay-in-business capital                                  42          81           6       34
                                                                                             
Project capital                                           52         116          73       21
                                                                                             
Total capital expenditure                                161         208          82       77
                                                                                             
Capitalised leased assets                                                                    
                                                                                             
Expenditures on intangible assets                                                            
                                                                                             
Capital expenditure per statement of cash flows                                              
                                                                                             
Rounding of figures may result in computational discrepancies.             
                 
                                                                                             

FINANCIAL RESULTS                                              Corporate           Less equity   Total
QUARTER ENDED SEPTEMBER 2012 $'m                               and other Sub-total   accounted   group
                                                                                   investments        
                                                                                                      
                                                                                                      
                                                                                                      
Gold income                                                            -     1 709        (80)   1 629
                                                                                                      
                                                                                                      
                                                                                                      
Cash costs                                                             7     (946)          51   (895)
                                                                                                      
By-products revenue                                                    1        28           -      28
                                                                                                      
Total cash costs                                                       8     (918)          51   (867)
                                                                                                      
Retrenchment costs                                                     -       (2)           -     (2)
                                                                                                      
Rehabilitation and other non-cash costs                                -   
  (16)           -    (16)
                                                                                                      
Amortisation of assets                                               (2)     (206)           3   (203)
                                                                                                      
Total production costs                                                 6   (1 142)          54 (1 089)
                                                                                                      
Inventory change                                                       -        34         (2)      32
                                                                                                      
Cost of sales                                                          6   (1 109)          52 (1 056)
                                                                                                      
                                                                                                      
                                                                                                      
Adjusted gross profit (loss)                                           6       601        (28)     573
                                                                                                      
Unrealised non-hedge derivatives and other commodity contracts         -   
  (61)           -    (61)
                                                                                                      
Gross profit (loss)                                                    6       540        (28)     512
                                                                                                      
Corporate and other costs                                           (62)      (75)           -    (75)
                                                                                                      
Exploration and evaluation costs                                     (9)   
 (108)           2   (107)
                                                                                                      
Intercompany transactions                                             25         -           -       -
                                                                                                      
Special items                                                          1      (25)           -    (25)
                                                                                                      
Operating profit (loss)                                             (39)       331        (27)     305
                                                                                                      
Net finance (costs) income, unwinding ofobligations and fair        (58)   
  (62)           -    (61)
value adjustments                                                                                     
                                                                                                      
Exchange gain (loss)                                                   6       (1)           3       1
                                                                                                      
Share of equity accounted investments profit                         (4)   
  (14)          14       -
                                                                                                      
Profit (loss) before taxation                                       (95)       255         (9)     245
                                                                                                      
Taxation                                                            (20)      (85)           9    (76)
                                                                                                      
Profit (loss) for the period                                       (114)       169           -     169
                                                                                                      
Equity shareholders                                                (117)       168           -     168
                                                                                                      
Non-controlling interests                                              3         1           -       1
                                                                                                      
                                                                                                      
                                                                                                      
Operating profit (loss)                                             (39)       331        (27)     305
                                                                                                      
Unrealised non-hedge derivatives and other commodity contracts         -        61           -      61
                                                                                                      
Loss on realised other commodity contracts                             -   
     -           -       -
                                                                                                      
Intercompany transactions                                           (25)         -           -       -
                                                                                                      
Special items                                                        (2)        12           -      12
                                                                                                      
Share of associates' EBIT                                            (3)      (13)          27      13
                                                                                                      
EBIT                                                                (69)       391           -     391
                                                                                                      
Amortisation of assets                                                 2       206         (3)     203
                                                                                                      
Share of associates' amortisation                                      -   
     -           3       3
                                                                                                      
EBITDA                                                              (67)       597           -     597
                                                                                                      
                                                                                                      
                                                                                                      
Profit (loss) attributable to equity shareholders                  (117)   
   168           -     168
                                                                                                      
Special items                                                        (2)        12           -      12
                                                                                                      
Share of associates' special items                                     -   
     -           -       -
                                                                                                      
Taxation on items above                                                -       (2)           -     (2)
                                                                                                      
Headline earnings (loss)                                           (119)       178           -     178
                                                                                                      
Unrealised non-hedge derivatives and other commodity contracts         -        61           -      61
                                                                                                      
Deferred tax on unrealised non-hedge derivatives and other             -   
  (17)           -    (17)
commodity contracts                                                                                   
                                                                                                      
Fair value adjustment on option component of convertible bonds         2         2           -       2
                                                                                                      
Fair value adjustment on mandatory convertible bonds                  11        11           -      11
                                                                                                      
Adjusted headline earnings (loss)                                  (106)   
   235           -     235
                                                                                                      
                                                                                                      
                                                                                                      
Ore reserve development capital                                        -   
   102           -     102
                                                                                                      
Stay-in-business capital                                              17       181         (2)     179
                                                                                                      
Project capital                                                        -       262        (71)     192
                                                                                                      
Total capital expenditure                                             17       545        (73)     472
                                                                                                      
Capitalised leased assets                                                                            -
                                                                                                      
Expenditures on intangible assets                                                                 (24)
                                                                                                      
Capital expenditure per statement of cash flows                                                    448
                                                                                                      
Rounding of figures may result in computational discrepancies.             
                          
                                                                                                      

OPERATING RESULTS                                 South Africa Continental Australasia Americas  Total
QUARTER ENDED JUNE 2012                                             Africa                       group
                                                                                                      
                                                                                                      
                                                                                                      
UNDERGROUND OPERATION                                                                                 
                                                                                                      
Area mined                        - 000 m2                 230           -           -        -    230
                                                                                                      
Mined                             - 000 tonnes           1 493         387         318      543  2 742
                                                                                                      
Milled / Treated                  - 000 tonnes           1 299         462         217      641  2 620
                                                                                                      
Recovered grade                   - oz/ton               0.222       0.163       0.086    0.161  0.185
                                                                                                      
                                  - g/tonne               7.61        5.58        2.94     5.51   6.35
                                                                                                      
Gold produced                     - oz (000)               318          83          21      114    535
                                                                                                      
                                                                                                      
                                                                                                      
SURFACE AND DUMP RECLAMATION                                                                          
                                                                                                      
Milled / Treated                  - 000 tonnes           3 010           - 

- - 3 010

Recovered grade                   - oz/ton               0.013           - 
         -        -  0.013
                                                                                                      
                                  - g/tonne               0.46           -           -        -   0.46
                                                                                                      
Gold produced                     - oz (000)                44           -           -        -     44
                                                                                                      
                                                                                                      
                                                                                                      
OPEN-PIT OPERATION                                                                                    
                                                                                                      
Volume mined                      - 000 bcm                  -      15 106         559        - 15 665
                                                                                                      
Mined                             - 000 tonnes               -      35 355       1 588    5 766 42 709
                                                                                                      
Treated                           - 000 tonnes               -       6 217         623      238  7 078
                                                                                                      
Stripping ratio                   - ratio                    -        4.19 

2.29 22.25 4.66

Recovered grade                   - oz/ton                   -       0.047       0.073    0.174  0.053
                                                                                                      
                                  - g/tonne                  -        1.59        2.52     5.96   1.82
                                                                                                      
Gold produced                     - oz (000)                 -         319          50       46    415
                                                                                                      
                                                                                                      
                                                                                                      
HEAP LEACH OPERATION                                                                                  
                                                                                                      
Mined                             - 000 tonnes               -       2 182           -   16 555 18 737
                                                                                                      
Placed                            - 000 tonnes               -         252           -    5 498  5 750
                                                                                                      
Stripping ratio                   - ratio                    -       20.19 

- 1.97 2.30

Recovered grade                   - oz/ton                   -       0.021           -    0.013  0.013
                                                                                                      
                                  - g/tonne                  -        0.72           -     0.44   0.45
                                                                                                      
Gold placed                       - oz (000)                 -           6           -       78     83
                                                                                                      
Gold produced                     - oz (000)                 -           6           -       73     79
                                                                                                      
                                                                                                      
                                                                                                      
PRODUCTIVITY PER EMPLOYEE                                                  
                          
                                                                                                      
Actual                            - oz/TEC                   5          12          47       19      9
                                                                                                      
                                                                                                      
                                                                                                      
TOTAL                                                                                                 
                                                                                                      
Subsidiaries' gold produced       - oz (000)               362         358 

71 233 1 024

Joint ventures' gold produced     - oz (000)                 -          49 
         -        -     49
                                                                                                      
Attributable gold produced        - oz (000)               362         407          71      233  1 073
                                                                                                      
Minority gold produced            - oz (000)                 -          12           -       20     32
                                                                                                      
                                                                                                      
                                                                                                      
Subsidiaries' gold sold           - oz (000)               336         345          73      225    980
                                                                                                      
Joint ventures' gold sold         - oz (000)                 -          50           -        -     50
                                                                                                      
Attributable gold sold            - oz (000)               336         395          73      225  1 030
                                                                                                      
Minority gold sold                - oz (000)                 -          11           -       20     31
                                                                                                      
                                                                                                      
                                                                                                      
Spot price                        - $/oz                 1 611       1 611       1 611    1 611  1 611
                                                                                                      
Price received                    - $/oz sold            1 604       1 606       1 608    1 611  1 607
                                                                                                      
Total cash costs                  - $/oz produced          779         827       1 187      671    801
                                                                                                      
Total production costs            - $/oz produced          998         987       1 286      941  1 002
                                                                                                      
Recovered grade calculated using a short ton.                                                         
                                                                                                      
Rounding of figures may result in computational discrepancies.             
                          
                                                                                                      

FINANCIAL RESULTS                               South Africa Continental Australasia Americas
QUARTER ENDED JUNE 2012 $'m                                       Africa                     
                                                                                             
Gold income                                              539         653         117      390
                                                                                             
Cash costs                                             (304)       (347)        (84)    (209)
                                                                                             
By-products revenue                                       22           2           -       21
                                                                                             
Total cash costs                                       (282)       (346)        (84)    (189)
                                                                                             
Retrenchment costs                                       (2)         (1)           -      (1)
                                                                                             
Rehabilitation and other non-cash costs                  (3)         (8)   
       -     (14)
                                                                                             
Amortisation of assets                                  (74)        (58)         (7)     (56)
                                                                                             
Total production costs                                 (361)       (412)        (91)    (260)
                                                                                             
Inventory change                                          27           3         (1)       33
                                                                                             
Cost of sales                                          (334)       (409)        (92)    (227)
                                                                                             
Adjusted gross profit (loss)                             205         244          25      163
                                                                                             
Unrealised non-hedge derivatives and other                 -           -           -        -commodity contracts                                                                          
                                                                                             
Gross profit (loss)                                      205         244          25      163
                                                                                             
Corporate and other costs                                (2)         (2)         (1)     (10)
                                                                                             
Exploration and evaluation costs                         (2)        (19)   
    (21)     (40)
                                                                                             
Intercompany transactions                                  -        (19)         (3)      (1)
                                                                                             
Special items                                            (1)         (3)          11        2
                                                                                             
Operating profit (loss)                                  200         200          11      114
                                                                                             
Net finance (costs) income, unwinding of                 (1)         (2)           -        1
obligations and fair value adjustments                                     
                 
                                                                                             
Exchange (loss) gain                                       -           2           -        3
                                                                                             
Share of equity accounted investments profit               -           -   
       -      (5)
                                                                                             
Profit (loss) before taxation                            199         199          11      112
                                                                                             
Taxation                                                (43)        (77)         (4)     (64)
                                                                                             
Profit (loss) for the period                             156         123           7       48
                                                                                             
Equity shareholders                                      156         137           7       43
                                                                                             
Non-controlling interests                                  -        (15)           -        6
                                                                                             
Operating profit (loss)                                  200         199          11      114
                                                                                             
Intercompany transactions                                  -          19           3        1
                                                                                             
Special items                                              2           1           -        1
                                                                                             
Share of associates' EBIT                                  -           -           -      (5)
                                                                                             
EBIT                                                     203         220          15      110
                                                                                             
Amortisation of assets                                    74          58           7       56
                                                                                             
Share of associates' amortisation                          -           -   
       -        -
                                                                                             
EBITDA                                                   276         278          22      166
                                                                                             
Profit (loss) attributable to equity                     156         137   
       7       43
shareholders                                                                                 
                                                                                             
Special items                                              2           1           -        1
                                                                                             
Share of associates' special items                         -           -   
       -        -
                                                                                             
Taxation on items above                                  (1)           3           -        -
                                                                                             
Headline earnings (loss)                                 157         141           7       43
                                                                                             
Unrealised non-hedge derivatives and other                 -           -   
       -        -
commodity contracts                                                                          
                                                                                             
Deferred tax on unrealised non-hedge                       -           -           -        -
derivatives and other commodity contracts                                                    
                                                                                             
Fair value adjustment on option component of               -           -   
       -        -
convertible bonds                                                                            
                                                                                             
Fair value loss on mandatory convertible bonds             -           -   

- -

Adjusted headline earnings (loss)                        157         141   

7 43

Ore reserve development capital                           62          12   
       4       17
                                                                                             
Stay-in-business capital                                  35          87           5       22
                                                                                             
Project capital                                           32          81          43       37
                                                                                             
Total capital expenditure                                130         180          52       75
                                                                                             
Capitalised leased assets                                                                    
                                                                                             
Expenditures on intangible assets                                                            
                                                                                             
Capital expenditure per statement of cash flows                                              
                                                                                             
Rounding of figures may result in computational discrepancies.             
                 
                                                                                             

FINANCIAL RESULTS                                              Corporate           Less equity   Total
QUARTER ENDED JUNE 2012 $'m                                    and other

Sub-total accounted group

                                                                                   investments        
                                                                                                      
                                                                                                      
                                                                                                      
Gold income                                                            -     1 700        (81)   1 619
                                                                                                      
                                                                                                      
                                                                                                      
Cash costs                                                            18     (926)          58   (868)
                                                                                                      
By-products revenue                                                    -        44           -      43
                                                                                                      
Total cash costs                                                      18     (883)          58   (825)
                                                                                                      
Retrenchment costs                                                     -       (3)           -     (3)
                                                                                                      
Rehabilitation and other non-cash costs                                -   
  (25)           -    (25)
                                                                                                      
Amortisation of assets                                               (3)     (198)           2   (196)
                                                                                                      
Total production costs                                                15   (1 109)          61 (1 049)
                                                                                                      
Inventory change                                                       -        62           1      63
                                                                                                      
Cost of sales                                                         15   (1 048)          62   (986)
                                                                                                      
                                                                                                      
                                                                                                      
Adjusted gross profit (loss)                                          15       652        (19)     633
                                                                                                      
Unrealised non-hedge derivatives and other commodity contracts         -   
     -           -       -
                                                                                                      
Gross profit (loss)                                                   15       652        (19)     633
                                                                                                      
Corporate and other costs                                           (82)      (97)           -    (97)
                                                                                                      
Exploration and evaluation costs                                     (7)   
  (89)           1    (87)
                                                                                                      
Intercompany transactions                                             23         -           -       -
                                                                                                      
Special items                                                          -         8           -       8
                                                                                                      
Operating profit (loss)                                             (51)       474        (18)     456
                                                                                                      
Net finance (costs) income, unwinding of obligations and fair         16   
    13           -      13
value adjustments                                                                                     
                                                                                                      
Exchange (loss) gain                                                   4         9         (1)       8
                                                                                                      
Share of equity accounted investments profit                        (17)   
  (22)          16     (6)
                                                                                                      
Profit (loss) before taxation                                       (48)       474         (3)     471
                                                                                                      
Taxation                                                             (1)     (189)           3   (186)
                                                                                                      
Profit (loss) for the period                                        (49)       285           -     285
                                                                                                      
Equity shareholders                                                 (56)       287           -     287
                                                                                                      
Non-controlling interests                                              6       (2)           -     (2)
                                                                                                      
                                                                                                      
                                                                                                      
Operating profit (loss)                                             (51)       474        (18)     456
                                                                                                      
Intercompany transactions                                           (23)         -           -       -
                                                                                                      
Special items                                                          -         4           -       4
                                                                                                      
Share of associates' EBIT                                            (3)       (9)          18       9
                                                                                                      
EBIT                                                                (77)       469           -     469
                                                                                                      
Amortisation of assets                                                 3       198         (2)     196
                                                                                                      
Share of associates' amortisation                                      -   
     -           2       2
                                                                                                      
EBITDA                                                              (74)       668           -     668
                                                                                                      
                                                                                                      
                                                                                                      
Profit (loss) attributable to equity shareholders                   (56)   
   287           -     287
                                                                                                      
Special items                                                          -         4           -       4
                                                                                                      
Share of associates' special items                                    13   
    13           -      13
                                                                                                      
Taxation on items above                                                -         2           -       2
                                                                                                      
Headline earnings (loss)                                            (42)       307           -     307
                                                                                                      
Unrealised non-hedge derivatives and other commodity contracts         -         -           -       -
                                                                                                      
Deferred tax on unrealised non-hedge derivatives and other             -   
     -           -       -
commodity contracts                                                                                   
                                                                                                      
Fair value adjustment on option component of convertible bonds      (24)      (24)           -    (24)
                                                                                                      
Fair value loss on mandatory convertible bonds                      (29)      (29)           -    (29)
                                                                                                      
Adjusted headline earnings (loss)                                   (95)   
   253           -     253
                                                                                                      
                                                                                                      
                                                                                                      
Ore reserve development capital                                        -   
    95           -      95
                                                                                                      
Stay-in-business capital                                              14       163         (2)     162
                                                                                                      
Project capital                                                        -       193        (53)     141
                                                                                                      
Total capital expenditure                                             14       451        (54)     397
                                                                                                      
Capitalised leased assets                                                                          (2)
                                                                                                      
Expenditures on intangible assets                                                                 (20)
                                                                                                      
Capital expenditure per statement of cash flows                                                    374
                                                                                                      
Rounding of figures may result in computational discrepancies.             
                          
                                                                                                      

OPERATING RESULTS                                 South Africa Continental Australasia Americas  Total
QUARTER ENDED SEPTEMBER 2011                                        Africa 
                     group
                                                                                                      
                                                                                                      
                                                                                                      
UNDERGROUND OPERATION                                                                                 
                                                                                                      
Area mined                        - 000 m2                 244           -           -        -    244
                                                                                                      
Mined                             - 000 tonnes           1 534         478         283      506  2 802
                                                                                                      
Milled / Treated                  - 000 tonnes           1 429         496         267      559  2 751
                                                                                                      
Recovered grade                   - oz/ton               0.230       0.137       0.062    0.194  0.189
                                                                                                      
                                  - g/tonne               7.87        4.71        2.13     6.64   6.49
                                                                                                      
Gold produced                     - oz (000)               362          75          18      119    574
                                                                                                      
                                                                                                      
                                                                                                      
SURFACE AND DUMP RECLAMATION                                                                          
                                                                                                      
Milled / Treated                  - 000 tonnes           2 472           - 

- - 2 472

Recovered grade                   - oz/ton               0.012           - 
         -        -  0.013
                                                                                                      
                                  - g/tonne               0.40           -           -        -   0.44
                                                                                                      
Gold produced                     - oz (000)                32           3           -        -     35
                                                                                                      
                                                                                                      
                                                                                                      
OPEN-PIT OPERATION                                                                                    
                                                                                                      
Volume mined                      - 000 bcm                  -      12 983         172        - 13 155
                                                                                                      
Mined                             - 000 tonnes               -      31 335         218    6 766 38 319
                                                                                                      
Treated                           - 000 tonnes               -       6 063         658      230  6 952
                                                                                                      
Stripping ratio                   - ratio                    -        5.43 

35.22 22.71 6.42

Recovered grade                   - oz/ton                   -       0.049       0.044    0.176  0.052
                                                                                                      
                                  - g/tonne                  -        1.67        1.50     6.05   1.80
                                                                                                      
Gold produced                     - oz (000)                 -         325          32       45    402
                                                                                                      
                                                                                                      
                                                                                                      
HEAP LEACH OPERATION                                                                                  
                                                                                                      
Mined                             - 000 tonnes               -       1 431           -   17 356 18 788
                                                                                                      
Placed                            - 000 tonnes               -         261           -    5 371  5 632
                                                                                                      
Stripping ratio                   - ratio                    -        9.09 

- 2.40 2.58

Recovered grade                   - oz/ton                   -       0.031           -    0.012  0.013
                                                                                                      
                                  - g/tonne                  -        1.05           -     0.43   0.46
                                                                                                      
Gold placed                       - oz (000)                 -           9           -       74     83
                                                                                                      
Gold produced                     - oz (000)                 -           8           -       74     81
                                                                                                      
                                                                                                      
                                                                                                      
PRODUCTIVITY PER EMPLOYEE                                                  
                          
                                                                                                      
Actual                            - oz/TEC                   6          12          32       22      9
                                                                                                      
                                                                                                      
                                                                                                      
TOTAL                                                                                                 
                                                                                                      
Subsidiaries' gold produced       - oz (000)               394         348 

50 238 1 029

Joint ventures' gold produced     - oz (000)                 -          63 
         -        -     63
                                                                                                      
Attributable gold produced        - oz (000)               394         411          50      238  1 092
                                                                                                      
Minority gold produced            - oz (000)                 -          10           -       19     29
                                                                                                      
                                                                                                      
                                                                                                      
Subsidiaries' gold sold           - oz (000)               393         324          55      246  1 018
                                                                                                      
Joint ventures' gold sold         - oz (000)                 -          62           -        -     62
                                                                                                      
Attributable gold sold            - oz (000)               393         386          55      246  1 080
                                                                                                      
Minority gold sold                - oz (000)                 -          11           -       21     32
                                                                                                      
                                                                                                      
                                                                                                      
Spot price                        - $/oz                 1 705       1 705       1 705    1 705  1 705
                                                                                                      
Price received                    - $/oz sold            1 718       1 724       1 683    1 697  1 713
                                                                                                      
Total cash costs                  - $/oz produced          757         739       1 570      524    737
                                                                                                      
Total production costs            - $/oz produced          981         884       1 743      710    922
                                                                                                      
Recovered grade calculated using a short ton.                                                         
                                                                                                      
Rounding of figures may result in computational discrepancies.             
                          
                                                                                                      

FINANCIAL RESULTS                               South Africa Continental Australasia Americas
QUARTER ENDED SEPTEMBER 2011 $'m                                  Africa   
                 
                                                                                             
Gold income received                                     675         684          93      448
                                                                                             
Cash costs                                             (320)       (315)        (79)    (183)
                                                                                             
By-products revenue                                       22           2           -       32
                                                                                             
Total cash costs                                       (298)       (313)        (79)    (151)
                                                                                             
Retrenchment costs                                       (2)         (1)           -      (1)
                                                                                             
Rehabilitation and other non-cash costs                  (2)         (5)   
       -      (5)
                                                                                             
Amortisation of assets                                  (84)        (55)         (9)     (44)
                                                                                             
Total production costs                                 (386)       (373)        (87)    (201)
                                                                                             
Inventory change                                           -          14         (5)        5
                                                                                             
Cost of sales                                          (386)       (359)        (92)    (195)
                                                                                             
Adjusted gross profit (loss)                             290         325           -      252
                                                                                             
Unrealised non-hedge derivatives and other                 -           -   
       -      (1)
commodity contracts                                                                          
                                                                                             
Gross profit (loss)                                      290         325           -      252
                                                                                             
Corporate and other costs                                (3)           -           -      (9)
                                                                                             
Exploration and evaluation costs                           -        (18)   
    (16)     (32)
                                                                                             
Intercompany transactions                                  -        (11)         (1)      (1)
                                                                                             
Special items                                            (4)        (13)          11        1
                                                                                             
Operating profit (loss)                                  282         282         (6)      211
                                                                                             
Net finance (costs) income, unwinding of                 (1)           2           2      (2)
obligations and fair value adjustments                                     
                 
                                                                                             
Exchange gain (loss)                                       -         (1)           -       12
                                                                                             
Share of equity accounted investments profit               -           -   
       -      (8)
                                                                                             
Profit (loss) before taxation                            280         283         (4)      213
                                                                                             
Taxation                                                (96)       (102)           1     (27)
                                                                                             
Profit (loss) for the period                             184         182         (3)      187
                                                                                             
Equity shareholders                                      184         178         (3)      180
                                                                                             
Non-controlling interests                                  -           4           -        7
                                                                                             
Operating profit (loss)                                  282         282         (6)      211
                                                                                             
Unrealised non-hedge derivatives and other                 -           -   
       -        1
commodity contracts                                                                          
                                                                                             
Intercompany transactions                                  -          11           1        1
                                                                                             
Special items                                              5          10           -        -
                                                                                             
Share of associates' EBIT                                  -           -           -      (8)
                                                                                             
EBIT                                                     287         303         (5)      204
                                                                                             
Amortisation of assets                                    84          55           9       44
                                                                                             
Share of associates' amortisation                          -           -   
       -        -
                                                                                             
EBITDA                                                   371         358           4      248
                                                                                             
Profit (loss) attributable to equity                     184         178   
     (3)      180
shareholders                                                                                 
                                                                                             
Special items                                              5          10           -        -
                                                                                             
Share of associates' special items                         -           -   
       -        -
                                                                                             
Taxation on items above                                  (2)           -           -        -
                                                                                             
Headline earnings (loss)                                 187         187         (3)      180
                                                                                             
Unrealised non-hedge derivatives and other                 -           -   
       -        1
commodity contracts                                                                          
                                                                                             
Deferred tax on unrealised non-hedge                       -           -           -        -
derivatives and other commodity contracts                                                    
                                                                                             
Fair value adjustment on option component of               -           -   
       -        -
convertible bonds                                                                            
                                                                                             
Fair value loss on mandatory convertible bonds             -           -   

- -

Adjusted headline earnings (loss)                        187         187   

(3) 181

Ore reserve development capital                           71          13   
       5       17
                                                                                             
Stay-in-business capital                                  43          66           2       40
                                                                                             
Project capital                                           26          22          25       68
                                                                                             
Total capital expenditure                                140         101          32      125
                                                                                             
Capitalised leased assets                                                                    
                                                                                             
Expenditures on intangible assets                                                            
                                                                                             
Capital expenditure per statement of cash flows                                              
                                                                                             
Rounding of figures may result in computational discrepancies.             
                 
                                                                                             

FINANCIAL RESULTS                                              Corporate           Less equity  Total
QUARTER ENDED SEPTEMBER 2011 $'m                               and other Sub-total   accounted  group
                                                                                   investments       
                                                                                                     
                                                                                                     
                                                                                                     
Gold income received                                                   -     1 899       (106)  1 793
                                                                                                     
                                                                                                     
                                                                                                     
Cash costs                                                             -     (897)          56  (841)
                                                                                                     
By-products revenue                                                    -        57           -     57
                                                                                                     
Total cash costs                                                       -     (840)          56  (784)
                                                                                                     
Retrenchment costs                                                     -       (4)           -    (4)
                                                                                                     
Rehabilitation and other non-cash costs                                -   
  (11)           -   (11)
                                                                                                     
Amortisation of assets                                               (3)     (195)           2  (193)
                                                                                                     
Total production costs                                               (3)   (1 050)          58  (992)
                                                                                                     
Inventory change                                                       -        15           -     14
                                                                                                     
Cost of sales                                                        (3)   (1 035)          58  (977)
                                                                                                     
                                                                                                     
                                                                                                     
Adjusted gross profit (loss)                                         (4)       864        (48)    816
                                                                                                     
Unrealised non-hedge derivatives and other commodity contracts         -   
   (1)           -    (1)
                                                                                                     
Gross profit (loss)                                                  (4)       863        (48)    815
                                                                                                     
Corporate and other costs                                           (66)      (78)           -   (78)
                                                                                                     
Exploration and evaluation costs                                    (11)   
  (78)           2   (76)
                                                                                                     
Intercompany transactions                                             13         -           -      -
                                                                                                     
Special items                                                        (8)      (13)           -   (13)
                                                                                                     
Operating profit (loss)                                             (75)       694        (47)    648
                                                                                                     
Net finance (costs) income, unwinding of obligations and fair       (17)   
  (15)         (3)   (18)
value adjustments                                                                                    
                                                                                                     
Exchange gain (loss)                                                   5        16           -     15
                                                                                                     
Share of equity accounted investments profit                         (2)   
  (10)          34     24
                                                                                                     
Profit (loss) before taxation                                       (88)       685        (16)    669
                                                                                                     
Taxation                                                               4     (220)          16  (204)
                                                                                                     
Profit (loss) for the period                                        (84)       465           -    465
                                                                                                     
Equity shareholders                                                 (83)       456           -    456
                                                                                                     
Non-controlling interests                                            (1)         9           -      9
                                                                                                     
                                                                                                     
                                                                                                     
Operating profit (loss)                                             (75)       694        (47)    648
                                                                                                     
Unrealised non-hedge derivatives and other commodity contracts         -   
     1           -      1
                                                                                                     
Intercompany transactions                                           (13)         -           -      -
                                                                                                     
Special items                                                          8        22           -     22
                                                                                                     
Share of associates' EBIT                                            (2)      (10)          47     36
                                                                                                     
EBIT                                                                (82)       707           -    707
                                                                                                     
Amortisation of assets                                                 3       195         (2)    193
                                                                                                     
Share of associates' amortisation                                      -   
     -           2      2
                                                                                                     
EBITDA                                                              (79)       902           -    902
                                                                                                     
                                                                                                     
                                                                                                     
Profit (loss) attributable to equity shareholders                   (83)   
   456           -    456
                                                                                                     
Special items                                                          8        22           -     22
                                                                                                     
Share of associates' special items                                     -   
     -           -      -
                                                                                                     
Taxation on items above                                                -       (2)           -    (2)
                                                                                                     
Headline earnings (loss)                                            (75)       476           -    476
                                                                                                     
Unrealised non-hedge derivatives and other commodity contracts         -         1           -      1
                                                                                                     
Deferred tax on unrealised non-hedge derivatives and other             -   
     -           -      -
commodity contracts                                                                                  
                                                                                                     
Fair value adjustment on option component of convertible bonds      (11)      (11)           -   (11)
                                                                                                     
Fair value loss on mandatory convertible bonds                       (9)       (9)           -    (9)
                                                                                                     
Adjusted headline earnings (loss)                                   (95)   
   457           -    457
                                                                                                     
                                                                                                     
                                                                                                     
Ore reserve development capital                                        -   
   106           -    106
                                                                                                     
Stay-in-business capital                                              10       161         (2)    159
                                                                                                     
Project capital                                                        -       141        (18)    123
                                                                                                     
Total capital expenditure                                             10       408        (20)    388
                                                                                                     
Capitalised leased assets                                                                           -
                                                                                                     
Expenditures on intangible assets                                                                 (6)
                                                                                                     
Capital expenditure per statement of cash flows                                                   382
                                                                                                     
Rounding of figures may result in computational discrepancies.             
                         
                                                                                                     

OPERATING RESULTS                                 South Africa Continental Australasia Americas   Total
NINE MONTHS ENDED SEPTEMBER 2012                                    Africa 
                      group
                                                                                                       
                                                                                                       
                                                                                                       
UNDERGROUND OPERATION                                                                                  
                                                                                                       
Area mined                        - 000 m2                 630           -           -        -     630
                                                                                                       
Mined                             - 000 tonnes           4 078       1 189         977    1 722   7 965
                                                                                                       
Milled / Treated                  - 000 tonnes           3 602       1 335       1 011    1 985   7 933
                                                                                                       
Recovered grade                   - oz/ton               0.227       0.137       0.074    0.157   0.175
                                                                                                       
                                  - g/tonne               7.80        4.71        2.54     5.37    6.00
                                                                                                       
Gold produced                     - oz (000)               903         202          83      342   1 530
                                                                                                       
                                                                                                       
                                                                                                       
SURFACE AND DUMP RECLAMATION                                                                           
                                                                                                       
Milled / Treated                  - 000 tonnes          12 547         265           -        -  12 812
                                                                                                       
Recovered grade                   - oz/ton               0.010       0.007           -        -   0.010
                                                                                                       
                                  - g/tonne              0.340       0.230           -        -   0.340
                                                                                                       
Gold produced                     - oz (000)               138           2           -        -     140
                                                                                                       
                                                                                                       
                                                                                                       
OPEN-PIT OPERATION                                                                                     
                                                                                                       
Volume mined                      - 000 bcm                  -      41 393       2 662        -  44 055
                                                                                                       
Mined                             - 000 tonnes               -      97 861       6 980   17 550 122 391
                                                                                                       
Treated                           - 000 tonnes               -      18 230       1 564      715  20 509
                                                                                                       
Stripping ratio                   - ratio                    -        4.53        4.85    21.14    5.22
                                                                                                       
Recovered grade                   - oz/ton                   -       0.046       0.070    0.170   0.052
                                                                                                       
                                  - g/tonne                  -        1.57        2.39     5.84    1.78
                                                                                                       
Gold produced                     - oz (000)                 -         923         120      134   1 177
                                                                                                       
                                                                                                       
                                                                                                       
HEAP LEACH OPERATION                                                                                   
                                                                                                       
Mined                             - 000 tonnes               -       6 435           -   47 760  54 195
                                                                                                       
Placed                            - 000 tonnes               -         813           -   16 606  17 419
                                                                                                       
Stripping ratio                   - ratio                    -       16.00           -     1.99    2.31
                                                                                                       
Recovered grade                   - oz/ton                   -       0.023           -    0.012   0.013
                                                                                                       
                                  - g/tonne                  -        0.78           -     0.42    0.43
                                                                                                       
Gold placed                       - oz (000)                 -          20           -      222     242
                                                                                                       
Gold produced                     - oz (000)                 -          19           -      218     237
                                                                                                       
                                                                                                       
                                                                                                       
PRODUCTIVITY PER EMPLOYEE                                                                              
                                                                                                       
Actual                            - oz/TEC                   5          11          45       18       9
                                                                                                       
                                                                                                       
                                                                                                       
TOTAL                                                                                                  
                                                                                                       
Subsidiaries' gold produced       - oz (000)             1 041         992         203      695   2 930
                                                                                                       
Joint ventures' gold produced     - oz (000)                 -         154           -        -     154
                                                                                                       
Attributable gold produced        - oz (000)             1 041       1 146         203      695   3 084
                                                                                                       
Minority gold produced            - oz (000)                 -          32           -       44      76
                                                                                                       
                                                                                                       
                                                                                                       
Subsidiaries' gold sold           - oz (000)             1 012       1 008         202      716   2 938
                                                                                                       
Joint ventures' gold sold         - oz (000)                 -         150           -        -     150
                                                                                                       
Attributable gold sold            - oz (000)             1 012       1 158         202      716   3 088
                                                                                                       
Minority gold sold                - oz (000)                 -          32           -       47      79
                                                                                                       
                                                                                                       
                                                                                                       
Spot price                        - $/oz                 1 651       1 651       1 651    1 651   1 651
                                                                                                       
Price received                    - $/oz sold            1 654       1 646       1 648    1 648   1 649
                                                                                                       
Total cash costs                  - $/oz produced          825         851       1 143      670     821
                                                                                                       
Total production costs            - $/oz produced        1 062       1 018       1 268      916   1 027
                                                                                                       
Recovered grade calculated using a short ton.                                                          
                                                                                                       
Rounding of figures may result in computational discrepancies.             
FINANCIAL RESULTS - NINE MONTHS                 South Africa Continental Australasia Americas
ENDED SEPTEMBER 2012 $'m                                          Africa                     
                                                                                             
Gold income                                            1 669       1 958         333    1 243
                                                                                             
Cash costs                                             (899)     (1 008)       (232)    (635)
                                                                                             
By-products revenue                                       41           5           1       86
                                                                                             
Total cash costs                                       (859)     (1 003)       (232)    (549)
                                                                                             
Retrenchment costs                                       (5)         (1)           -      (3)
                                                                                             
Rehabilitation and other non-cash costs                 (11)        (21)   
       -     (19)
                                                                                             
Amortisation of assets                                 (231)       (172)        (25)    (162)
                                                                                             
Total production costs                               (1 106)     (1 197)       (257)    (733)
                                                                                             
Inventory change                                          31         (3)           2       41
                                                                                             
Cost of sales                                        (1 075)     (1 200)       (254)    (692)
                                                                                             
Adjusted gross profit (loss)                             594         758          78      551
                                                                                             
Unrealised non-hedge derivatives and other              (61)           -   
       -        -
commodity contracts                                                                          
                                                                                             
Gross profit (loss)                                      534         758          78      551
                                                                                             
Corporate and other costs                                (6)         (9)         (1)     (26)
                                                                                             
Exploration and evaluation costs                         (7)        (73)   
    (62)    (107)
                                                                                             
Intercompany transactions                                  -        (58)        (10)      (2)
                                                                                             
Special items                                            (3)         (7)          11        1
                                                                                             
Operating profit (loss)                                  518         611          17      417
                                                                                             
Net finance (costs) income, unwinding of                 (5)         (3)           -      (1)
obligations and fair value adjustments                                     
                 
                                                                                             
Exchange (loss) gain                                       -         (1)           1      (1)
                                                                                             
Share of equity accounted investments profit               -           -   
       -     (19)
                                                                                             
Profit (loss) before taxation                            512         607          17      396
                                                                                             
Taxation                                                  34       (285)         (8)    (119)
                                                                                             
Profit (loss) for the period                             546         322           9      277
                                                                                             
Equity shareholders                                      546         336           9      259
                                                                                             
Non-controlling interests                                  -        (14)           -       18
                                                                                             
Operating profit (loss)                                  518         611          17      417
                                                                                             
Unrealised non-hedge derivatives and other                61           -   
       -        -
commodity contracts                                                                          
                                                                                             
Intercompany transactions                                  -          58          10        2
                                                                                             
Special items                                              7         (2)           3        1
                                                                                             
Share of associates' EBIT                                  -           -           -     (19)
                                                                                             
EBIT                                                     586         668          30      401
                                                                                             
Amortisation of assets                                   231         172          25      162
                                                                                             
Share of associates' amortisation                          -           -   
       -        -
                                                                                             
EBITDA                                                   816         840          55      563
                                                                                             
Profit (loss) attributable to equity                     546         336   
       9      259
shareholders                                                                                 
                                                                                             
Special items                                              7         (2)           3        1
                                                                                             
Share of associates' special items                         -           -   
       -        -
                                                                                             
Taxation on items above                                  (2)           2         (1)        -
                                                                                             
Headline earnings (loss)                                 552         336          11      261
                                                                                             
Unrealised non-hedge derivatives and other                61           -   
       -        -
commodity contracts                                                                          
                                                                                             
Deferred tax on unrealised non-hedge                    (17)           -           -        -
derivatives and other commodity contracts                                                    
                                                                                             
Fair value adjustment on option component of               -           -   
       -        -
convertible bonds                                                                            
                                                                                             
Fair value loss on mandatory convertible bonds             -           -   

- -

Adjusted headline earnings (loss)                                          
                 
                                                         595         336          11      261
                                                                                             
                                                                                             
Ore reserve development capital                          188          34   
      12       53
                                                                                             
Stay-in-business capital                                  96         232          15       69
                                                                                             
Project capital                                          112         244         149      111
                                                                                             
Total capital expenditure                                396         510         176      233
                                                                                             
Capitalised leased assets                                                                    
                                                                                             
Expenditures on intangible assets                                                            
                                                                                             
Capital expenditure per statement of cash flows                                              
                                                                                             
Rounding of figures may result in computational discrepancies.                               
                                                                                             

FINANCIAL RESULTS - NINE MONTHS                                Corporate   
       Less equity   Total
ENDED SEPTEMBER 2012 $'m                                       and other Sub-total   accounted   group
                                                                                   investments        
                                                                                                      
                                                                                                      
                                                                                                      
Gold income                                                            -     5 203       (248)   4 955
                                                                                                      
                                                                                                      
                                                                                                      
Cash costs                                                            31   (2 744)         162 (2 582)
                                                                                                      
By-products revenue                                                    1       133         (1)     132
                                                                                                      
Total cash costs                                                      32   (2 611)         161 (2 450)
                                                                                                      
Retrenchment costs                                                     -       (9)           -     (8)
                                                                                                      
Rehabilitation and other non-cash costs                                -   
  (51)           1    (50)
                                                                                                      
Amortisation of assets                                               (7)     (598)           7   (591)
                                                                                                      
Total production costs                                                24   (3 268)         168 (3 100)
                                                                                                      
Inventory change                                                       -        71         (3)      68
                                                                                                      
Cost of sales                                                         24   (3 197)         165 (3 032)
                                                                                                      
                                                                                                      
                                                                                                      
Adjusted gross profit (loss)                                          24     2 006        (83)   1 923
                                                                                                      
Unrealised non-hedge derivatives and other commodity contracts         -   
  (61)           -    (61)
                                                                                                      
Gross profit (loss)                                                   24     1 945        (83)   1 862
                                                                                                      
Corporate and other costs                                          (205)     (247)           -   (247)
                                                                                                      
Exploration and evaluation costs                                    (26)   
 (275)           4   (271)
                                                                                                      
Intercompany transactions                                             69         -           -       -
                                                                                                      
Special items                                                        (2)         -           -       -
                                                                                                      
Operating profit (loss)                                            (140)     1 424        (79)   1 344
                                                                                                      
Net finance (costs) income, unwinding of obligations and fair         46   
    36           1      38
value adjustments                                                                                     
                                                                                                      
Exchange (loss) gain                                                   7         6           3       7
                                                                                                      
Share of equity accounted investments profit                        (17)   
  (36)          51      16
                                                                                                      
Profit (loss) before taxation                                      (104)     1 429        (24)   1 405
                                                                                                      
Taxation                                                            (19)     (397)          24   (373)
                                                                                                      
Profit (loss) for the period                                       (123)     1 032           -   1 032
                                                                                                      
Equity shareholders                                                (132)     1 019           -   1 019
                                                                                                      
Non-controlling interests                                              9        13           -      13
                                                                                                      
                                                                                                      
                                                                                                      
Operating profit (loss)                                            (140)     1 424        (79)   1 344
                                                                                                      
Unrealised non-hedge derivatives and other commodity contracts         -   
    61           -      61
                                                                                                      
Intercompany transactions                                           (69)         -           -       -
                                                                                                      
Special items                                                        (1)         9           -       9
                                                                                                      
Share of associates' EBIT                                            (7)      (26)          79      53
                                                                                                      
EBIT                                                               (218)     1 467           -   1 467
                                                                                                      
Amortisation of assets                                                 7       598         (7)     591
                                                                                                      
Share of associates' amortisation                                      -   
     -           7       7
                                                                                                      
EBITDA                                                             (210)     2 065           -   2 065
                                                                                                      
                                                                                                      
                                                                                                      
Profit (loss) attributable to equity shareholders                  (132)   
 1 019           -   1 019
                                                                                                      
Special items                                                        (1)         9           -       9
                                                                                                      
Share of associates' special items                                     9   
     9           -       9
                                                                                                      
Taxation on items above                                                -       (1)           -     (1)
                                                                                                      
Headline earnings (loss)                                           (124)     1 036           -   1 036
                                                                                                      
Unrealised non-hedge derivatives and other commodity contracts         -        61           -      61
                                                                                                      
Deferred tax on unrealised non-hedge derivatives and other             -   
  (17)           -    (17)
commodity contracts                                                                                   
                                                                                                      
Fair value adjustment on option component of convertible bonds      (66)      (66)           -    (66)
                                                                                                      
Fair value loss on mandatory convertible bonds                      (97)      (97)           -    (97)
                                                                                                      
Adjusted headline earnings (loss)                                          
                          
                                                                   (287)       917           -     917
                                                                                                      
                                                                                                      
                                                                                                      
                                                                                                      
Ore reserve development capital                                        -   
   286           -     286
                                                                                                      
Stay-in-business capital                                              35       447         (6)     441
                                                                                                      
Project capital                                                        -       617       (155)     462
                                                                                                      
Total capital expenditure                                             35     1 350       (161)   1 189
                                                                                                      
Capitalised leased assets                                                                          (2)
                                                                                                      
Expenditures on intangible assets                                                                 (52)
                                                                                                      
Capital expenditure per statement of cash flows                                                  1 135
                                                                                                      
Rounding of figures may result in computational discrepancies.             
                          
                                                                                                      

OPERATING RESULTS                                 South Africa Continental Australasia Americas   Total
NINE MONTHS ENDED SEPTEMBER 2011                                    Africa 
                      group
                                                                                                       
                                                                                                       
                                                                                                       
UNDERGROUND OPERATION                                                                                  
                                                                                                       
Area mined                        - 000 m2                 770           -           -        -     770
                                                                                                       
Mined                             - 000 tonnes           4 757       1 364         726    1 491   8 337
                                                                                                       
Milled / Treated                  - 000 tonnes           4 317       1 480         727    1 546   8 070
                                                                                                       
Recovered grade                   - oz/ton               0.231       0.139       0.102    0.189   0.194
                                                                                                       
                                  - g/tonne               7.91        4.76        3.48     6.49    6.66
                                                                                                       
Gold produced                     - oz (000)             1 098         226          81      323   1 729
                                                                                                       
                                                                                                       
                                                                                                       
SURFACE AND DUMP RECLAMATION                                                                           
                                                                                                       
Milled / Treated                  - 000 tonnes           7 960           -           -        -   7 960
                                                                                                       
Recovered grade                   - oz/ton               0.015           -           -        -   0.015
                                                                                                       
                                  - g/tonne               0.50           -           -        -    0.52
                                                                                                       
Gold produced                     - oz (000)               128           5           -        -     133
                                                                                                       
                                                                                                       
                                                                                                       
OPEN-PIT OPERATION                                                                                     
                                                                                                       
Volume mined                      - 000 bcm                  -      39 663       1 409        -  41 071
                                                                                                       
Mined                             - 000 tonnes               -      94 495       3 651   20 233 118 378
                                                                                                       
Treated                           - 000 tonnes               -      16 996       1 911      688  19 595
                                                                                                       
Stripping ratio                   - ratio                    -        4.44        6.62    23.45    5.33
                                                                                                       
Recovered grade                   - oz/ton                   -       0.048       0.048    0.167   0.052
                                                                                                       
                                  - g/tonne                  -        1.64        1.65     5.72    1.79
                                                                                                       
Gold produced                     - oz (000)                 -         898         102      127   1 126
                                                                                                       
                                                                                                       
                                                                                                       
HEAP LEACH OPERATION                                                                                   
                                                                                                       
Mined                             - 000 tonnes               -       4 666           -   49 314  53 980
                                                                                                       
Placed                            - 000 tonnes               -         825           -   16 011  16 836
                                                                                                       
Stripping ratio                   - ratio                    -        6.92           -     2.18    2.35
                                                                                                       
Recovered grade                   - oz/ton                   -       0.031           -    0.012   0.013
                                                                                                       
                                  - g/tonne                  -        1.05           -     0.40    0.43
                                                                                                       
Gold placed                       - oz (000)                 -          28           -      206     234
                                                                                                       
Gold produced                     - oz (000)                 -          21           -      208     229
                                                                                                       
                                                                                                       
                                                                                                       
PRODUCTIVITY PER EMPLOYEE                                                                              
                                                                                                       
Actual                            - oz/TEC                   6          11          38       21       9
                                                                                                       
                                                                                                       
                                                                                                       
TOTAL                                                                                                  
                                                                                                       
Subsidiaries' gold produced       - oz (000)             1 226         965         183      657   3 031
                                                                                                       
Joint ventures' gold produced     - oz (000)                 -         186           -        -     186
                                                                                                       
Attributable gold produced        - oz (000)             1 226       1 151         183      657   3 217
                                                                                                       
Minority gold produced            - oz (000)                 -          33           -       58      91
                                                                                                       
                                                                                                       
                                                                                                       
Subsidiaries' gold sold           - oz (000)             1 225         955         187      661   3 028
                                                                                                       
Joint ventures' gold sold         - oz (000)                 -         184           -        -     184
                                                                                                       
Attributable gold sold            - oz (000)             1 225       1 139         187      661   3 212
                                                                                                       
Minority gold sold                - oz (000)                 -          35           -       58      93
                                                                                                       
                                                                                                       
                                                                                                       
Spot price                        - $/oz                 1 534       1 534       1 534    1 534   1 534
                                                                                                       
Price received                    - $/oz sold            1 542       1 540       1 511    1 541   1 539
                                                                                                       
Total cash costs                  - $/oz produced          693         753       1 414      498     716
                                                                                                       
Total production costs            - $/oz produced          918         902       1 570      720     910
                                                                                                       
Recovered grade calculated using a short ton.                                                          
                                                                                                       
Rounding of figures may result in computational discrepancies.                                         
                                                                                                       

FINANCIAL RESULTS - NINE MONTHS                 South Africa Continental Australasia Americas
ENDED SEPTEMBER 2011 $'m                                          Africa                     
                                                                                             
Gold income received                                   1 889       1 807         282    1 095
                                                                                             
Cash costs                                             (932)       (898)       (260)    (493)
                                                                                             
By-products revenue                                       82           6           1       86
                                                                                             
Total cash costs                                       (850)       (893)       (259)    (407)
                                                                                             
Retrenchment costs                                       (7)         (1)           -      (2)
                                                                                             
Rehabilitation and other non-cash costs                  (6)        (20)   
     (1)     (46)
                                                                                             
Amortisation of assets                                 (263)       (152)        (28)    (122)
                                                                                             
Total production costs                               (1 126)     (1 067)       (287)    (577)
                                                                                             
Inventory change                                           -         (9)           -       42
                                                                                             
Cost of sales                                        (1 126)     (1 076)       (287)    (536)
                                                                                             
Adjusted gross profit (loss)                             763         731         (5)      559
                                                                                             
Unrealised non-hedge derivatives and other                 -           -   
       -      (1)
commodity contracts                                                                          
                                                                                             
Gross profit (loss)                                      763         732         (5)      558
                                                                                             
Corporate and other costs                                (9)         (7)         (2)     (33)
                                                                                             
Exploration and evaluation costs                         (1)        (51)   
    (38)     (81)
                                                                                             
Intercompany transactions                                  -        (34)         (1)      (2)
                                                                                             
Special items                                           (12)         561          35        2
                                                                                             
Operating profit (loss)                                  742       1 201        (12)      445
                                                                                             
Net finance (costs) income, unwinding of                 (4)         (1)           2      (3)
obligations and fair value adjustments                                     
                 
                                                                                             
Exchange gain (loss)                                       -         (8)           -       12
                                                                                             
Share of equity accounted investments profit               -           -   
       -     (15)
(loss)                                                                                       
                                                                                             
Profit (loss) before taxation                            738       1 192        (10)      439
                                                                                             
Taxation                                               (230)       (214)           1     (68)
                                                                                             
Profit (loss) for the period                             509         977         (9)      371
                                                                                             
Equity shareholders                                      509         964         (9)      359
                                                                                             
Non-controlling interests                                  -          14           -       12
                                                                                             
Operating profit (loss)                                  742       1 201        (12)      445
                                                                                             
Unrealised non-hedge derivatives and other                 -           -   
       -        1
commodity contracts                                                                          
                                                                                             
Intercompany transactions                                  -          34           1        2
                                                                                             
Special items                                             14       (539)         (3)      (1)
                                                                                             
Share of associates' EBIT                                  -           -           -     (15)
                                                                                             
EBIT                                                     756         695        (14)      432
                                                                                             
Amortisation of assets                                   263         152          28      122
                                                                                             
Share of associates' amortisation                          -           -   
       -        -
                                                                                             
EBITDA                                                 1 019         848          14      553
                                                                                             
Profit (loss) attributable to equity                     509         964   
     (9)      359
shareholders                                                                                 
                                                                                             
Special items                                             14       (539)         (3)      (1)
                                                                                             
Share of associates' special items                         -           -   
       -        -
                                                                                             
Taxation on items above                                  (7)           -           1        -
                                                                                             
Headline earnings (loss)                                 516         424        (11)      358
                                                                                             
Unrealised non-hedge derivatives and other                 -           -   
       -        1
commodity contracts                                                                          
                                                                                             
Deferred tax on unrealised non-hedge                       -           -           -        -
derivatives and other commodity contracts                                                    
                                                                                             
Fair value adjustment on option component of               -           -   
       -        -
convertible bond                                                                             
                                                                                             
Fair value loss on mandatory convertible bond              -           -   

- -

Adjusted headline earnings (loss)                        516         424   

(11) 359

Ore reserve development capital                          204          37   
       9       48
                                                                                             
Stay-in-business capital                                  86         162           6       81
                                                                                             
Project capital                                           61          69          46      179
                                                                                             
Total capital expenditure                                351         268          62      308
                                                                                             
Capitalised leased assets                                                                    
                                                                                             
Expenditures on intangible assets                                                            
                                                                                             
Capital expenditure per statement of cash flows                                              
                                                                                             
Rounding of figures may result in computational discrepancies.                               
                                                                                             

FINANCIAL RESULTS - NINE MONTHS                                Corporate   
       Less equity   Total
ENDED SEPTEMBER 2011 $'m                                       and other Sub-total   accounted   group
                                                                                   investments        
                                                                                                      
                                                                                                      
                                                                                                      
Gold income received                                                   -     5 072       (282)   4 791
                                                                                                      
                                                                                                      
                                                                                                      
Cash costs                                                            20   (2 564)         158 (2 406)
                                                                                                      
By-products revenue                                                    1       176         (1)     175
                                                                                                      
Total cash costs                                                      21   (2 388)         157 (2 231)
                                                                                                      
Retrenchment costs                                                     -      (11)           -    (10)
                                                                                                      
Rehabilitation and other non-cash costs                                -   
  (73)           1    (72)
                                                                                                      
Amortisation of assets                                               (9)     (574)           6   (566)
                                                                                                      
Total production costs                                                12   (3 045)         164 (2 881)
                                                                                                      
Inventory change                                                       -        33         (2)      31
                                                                                                      
Cost of sales                                                         12   (3 012)         162 (2 849)
                                                                                                      
                                                                                                      
                                                                                                      
Adjusted gross profit (loss)                                          12     2 061       (120)   1 942
                                                                                                      
Unrealised non-hedge derivatives and other commodity contracts         -   
   (1)           -     (1)
                                                                                                      
Gross profit (loss)                                                   12     2 060       (119)   1 941
                                                                                                      
Corporate and other costs                                          (181)     (232)         (1)   (233)
                                                                                                      
Exploration and evaluation costs                                    (29)   
 (200)           4   (196)
                                                                                                      
Intercompany transactions                                             37         -           -       -
                                                                                                      
Special items                                                      (568)        18           -      18
                                                                                                      
Operating profit (loss)                                            (729)     1 647       (117)   1 530
                                                                                                      
Net finance (costs) income, unwinding of obligations and fair         83   
    78         (3)      74
value adjustments                                                                                     
                                                                                                      
Exchange gain (loss)                                                   5         8           3      12
                                                                                                      
Share of equity accounted investments profit (loss)                  (7)   
  (21)          78      57
                                                                                                      
Profit (loss) before taxation                                      (648)     1 711        (38)   1 673
                                                                                                      
Taxation                                                             (4)     (515)          38   (477)
                                                                                                      
Profit (loss) for the period                                       (652)     1 196           -   1 196
                                                                                                      
Equity shareholders                                                (655)     1 167           -   1 167
                                                                                                      
Non-controlling interests                                              3        29           -      29
                                                                                                      
                                                                                                      
                                                                                                      
Operating profit (loss)                                            (729)     1 647       (117)   1 530
                                                                                                      
Unrealised non-hedge derivatives and other commodity contracts         -   
     1           -       1
                                                                                                      
Intercompany transactions                                           (37)         -           -       -
                                                                                                      
Special items                                                        561        31           -      31
                                                                                                      
Share of associates' EBIT                                            (4)      (19)         117      98
                                                                                                      
EBIT                                                               (209)     1 660           -   1 660
                                                                                                      
Amortisation of assets                                                 9       574         (6)     567
                                                                                                      
Share of associates' amortisation                                      -   
     -           6       6
                                                                                                      
EBITDA                                                             (201)     2 234           -   2 234
                                                                                                      
                                                                                                      
                                                                                                      
Profit (loss) attributable to equity shareholders                  (655)   
 1 167           -   1 167
                                                                                                      
Special items                                                        561        31           -      31
                                                                                                      
Share of associates' special items                                     2   
     2           -       2
                                                                                                      
Taxation on items above                                                -       (7)           -     (7)
                                                                                                      
Headline earnings (loss)                                            (92)     1 194           -   1 194
                                                                                                      
Unrealised non-hedge derivatives and other commodity contracts         -         1           -       1
                                                                                                      
Deferred tax on unrealised non-hedge derivatives and other             -   
     -           -       -
commodity contracts                                                                                   
                                                                                                      
Fair value adjustment on option component of convertible bond       (98)      (98)           -    (98)
                                                                                                      
Fair value loss on mandatory convertible bond                       (95)      (95)           -    (95)
                                                                                                      
Adjusted headline earnings (loss)                                  (286)   
 1 002           -   1 002
                                                                                                      
                                                                                                      
                                                                                                      
Ore reserve development capital                                        -   
   299           -     299
                                                                                                      
Stay-in-business capital                                              13       348         (4)     344
                                                                                                      
Project capital                                                        -       355        (54)     301
                                                                                                      
Total capital expenditure                                             14     1 002        (58)     944
                                                                                                      
Capitalised leased assets                                                                            1
                                                                                                      
Expenditures on intangible assets                                                                  (6)
                                                                                                      
Capital expenditure per statement of cash flows                                                    939
                                                                                                      
Rounding of figures may result in computational discrepancies.             
                          
                                                                                                      

Administrative information

ANGLOGOLD ASHANTI LIMITED

Registration No. 1944/017354/06

Incorporated in the Republic of South Africa

Share codes:

ISIN: ZAE000043485

JSE:           ANG
                  
LSE:           AGD
                  
NYSE:          AU 
                  
ASX:           AGG
                  
GhSE(Shares):  AGA
                  
GhSE(GhDS):    AAD
                  

JSE Sponsor: UBS (South Africa) (Pty) Ltd

Auditors:                 Ernst & Young Inc.

Offices

Registered and Corporate

76 Jeppe Street

Newtown 2001

(PO Box 62117, Marshalltown 2107)

South Africa

Telephone: +27 11 637 6000

Fax: +27 11 637 6624

Australia

Level 13, St Martins Tower

44 St George's Terrace

Perth, WA 6000

(PO Box Z5046, Perth WA 6831)

Australia

Telephone: +61 8 9425 4602

Fax: +61 8 9425 4662

Ghana

Gold House

Patrice Lumumba Road

(PO Box 2665)

Accra

Ghana

Telephone: +233 303 772190

Fax: +233 303 778155

United Kingdom Secretaries

St James's Corporate Services Limited

6 St James's Place

London SW1A 1NP

England

Telephone: +44 20 7499 3916

Fax: +44 20 7491 1989

E-mail: jane.kirton@corpserv.co.uk

Directors

Executive

M Cutifani~ (Chief Executive Officer)

S Venkatakrishnan*§ (Chief Financial Officer)


Non-Executive

T T Mboweni^ (Chairman)

F B Arisman#

R Gasant^

Ms N P January-Bardill^

M J Kirkwood*

W A Nairn^

Prof L W Nkuhlu^

F Ohene-Kena+

S M Pityana^

R J Ruston~

                  

* British              #  American

                  

~ Australian       ^  South African

                  

+ Ghanaian        §  Indian

Officers

Group General Counsel and Company

Secretary: Ms M E Sanz Perez

Investor Relations Contacts

South Africa

Fundisa Mgidi

Telephone: +27 637 6763

Mobile: +27 82 374 8820

E-mail: FMgidi@AngloGoldAshanti.com

United Kingdom

Michael Bedford

Telephone+44 (0) 1225 93 8483

Mobile: +44 (0) 779 497 7881

E-mail: mbedford@AngloGoldAshanti.com

United States

Stewart Bailey

Telephone: +1 212 858 7701

Mobile: +1 646 338 4337

E-mail: sbailey@AngloGoldAshanti.com

Sabrina Brockman

Telephone: +1 212 858 7702

Mobile: +1 646 379 2555

E-mail: sbrockman@AngloGoldAshantiNA.com

General E-mail enquiries

investors@AngloGoldAshanti.com

AngloGold Ashanti website

http://www.AngloGoldAshanti.com

Company secretarial E-mail

Companysecretary@AngloGoldAshanti.com

AngloGold Ashanti posts information that is

important to investors on the main page of its

website at www.anglogoldashanti.com and

under the "Investors" tab on the main page.

This information is updated regularly. Investors

should visit this website to obtain important

information about AngloGold Ashanti.

PUBLISHED BY ANGLOGOLD ASHANTI

Share Registrars

South Africa

Computershare Investor Services (Pty)

Limited

Ground Floor, 70 Marshall Street

Johannesburg 2001

(PO Box 61051, Marshalltown 2107)

South Africa

Telephone: 0861 100 950 (in SA)

Fax: +27 11 688 5218

web.queries@computershare.co.za

United Kingdom

Computershare Investor Services PLC

The Pavilions

Bridgwater Road

Bristol BS13 8AE

England

Telephone: +44 870 702 0000

Fax: +44 870 703 6119

Australia

Computershare Investor Services Pty

Limited

Level 2, 45 St George's Terrace

Perth, WA 6000

(GPO Box D182 Perth, WA 6840)

Australia

Telephone: +61 8 9323 2000

Telephone: 1300 55 2949 (in Australia)

Fax: +61 8 9323 2033

Ghana

NTHC Limited

Martco House

Off Kwame Nkrumah Avenue

PO Box K1A 9563 Airport

Accra

Ghana

Telephone: +233 302 229664

Fax: +233 302 229975

ADR Depositary

The Bank of New York Mellon ("BoNY")

BNY Shareowner Services

PO Box 358016

Pittsburgh, PA 15252-8016

United States of America

Telephone: +1 800 522 6645 (Toll free in

USA) or +1 201 680 6578 (outside USA)

E-mail: shrrelations@mellon.com

Website:

www.bnymellon.com.comshareowner

Global BuyDIRECTSM

BoNY maintains a direct share purchase

and dividend reinvestment plan for

ANGLOGOLD ASHANTI.

Telephone: +1-888-BNY-ADRS

Copyright er 7 PR Newswire



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