Edgar Filing: ANGLOGOLD ASHANTI LTD

Page 1

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 OF

THE SECURITIES EXCHANGE ACT OF 1934

Report on Form 6-K dated March 30, 2010

Commission File Number 1-14846

AngloGold Ashanti Limited

(Name of registrant)

76 Jeppe Street

Newtown, 2001

(P.O. Box 62117, Marshalltown, 2107)

South Africa

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form
20-F or Form 40-F.

Form 20-F X Form 40-F

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by
Regulation S-T Rule 101(b)(1):

Yes No X

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by
Regulation S-T Rule 101(b)(7):

Yes No X

Indicate by check mark whether the registrant by furnishing the information contained in this Form
is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the
Securities Exchange Act of 1934.

Yes No X

Enclosure: Press release

ANGLOGOLD ASHANTI MINERAL RESOURCE AND ORE RESERVE
REPORT FOR THE YEAR ENDED DECEMBER 31, 2009,

Mineral Resource and Ore Reserve Report 2009

Scope of report

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Scope of report

AngloGold Ashanti’s Mineral Resource and Ore Reserve are reported in accordance with the minimum standards

described by the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves

(JORC Code, 2004 Edition), and also conform to the standards set out in the South African Code for the

Reporting of Exploration Results, Mineral Resources and Mineral Reserves (the SAMREC Code) 2007 edition.

The Mineral Resource is inclusive of the Ore Reserve component unless otherwise stated.

Information is presented either by operating region, country, operation or exploration project. The regional or

country overviews include the following tables: Mineral Resource and Ore Reserve gold price and exchange rates,

details of average drill-hole spacing and type, Ore Reserve modifying factors, development sampling results,

Mineral Resource and Ore Reserve comparison by operation and Mineral Resource and Ore Reserve by-

products. Topics for discussion include Geology, Mineral Resource estimation, exclusive Mineral Resource, Ore

Reserve estimation and Inferred Mineral Resource in business plan. All Mineral Resources and Ore Reserves listed

in this document are attributable unless otherwise stated.

The operational reviews include the following: Geology, Mineral Resource, exclusive Mineral Resource, Mineral

Resource and Ore Reserve reconciliation, Mineral Resource and Ore Reserve by-products, Ore Reserve, grade

tonnage information and competent persons.

This document, the Mineral Resource and Ore Reserve Report 2009, is a key component of the AngloGold

Ashanti suite of 2009 annual reports produced to record the company’s performance regarding its finances,

operations and sustainability activities for the 12 months ended 31 December 2009. Other major documents in

this suite of reports are the Annual Financial Statements 2009 and the Sustainability Review 2009, both of which

are available on the corporate website, www.anglogoldashanti.com.

The Annual Financial Statements 2009 contains a summary extract of AngloGold Ashanti’s Mineral Resource and

Ore Reserve.

Note: Rounding of figures in this document may result in minor computational discrepancies. Throughout this

report, dollar or $ represents US dollar unless otherwise stated.

The suite of 2009 annual reports produced by AngloGold Ashanti Limited includes:

Annual Financial
Statements 2009

Mineral Resource and Ore
Reserve Report 2009

Sustainability Review 2009

Abridged Report 2009

Contents

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Contents

Corporate profile

Mineral Resource and

Ore Reserve – group overview

Mineral Resource by country

(attributable)

Exclusive Mineral Resource

by country (attributable)

Ore Reserve by country

(attributable)

Reconciliation of Mineral

Resource and Ore Reserve

P10

Southern Africa

P14

South Africa

P16

Great Noligwa

P24

Kopanang

P27

Moab Khotsong

P30

Tau Lekoa

P34

Mponeng

P37

Savuka

P43

TauTona

P46

Surface operations

P50

Namibia

P53

Navachab

P54

Continental Africa

P58

DRC

P60

Kibali

P61

Mongbwalu

P64

Ghana

P67

Iduapriem

P69

Obuasi

P72

Guinea

P78

Siguiri

P80

Mali

P87

Morila

P89

Sadiola

P91

Yatela

P97

Tanzania

P100

Geita

P102

Australasia

P108

Australia

P110

Sunrise Dam

P112

Tropicana

P116

North America

P120

United States of America

P122

Cripple Creek & Victor

P124

South America

P128

Argentina

P130

Cerro Vanguardia

P131

Brazil

P135

Brasil Mineração

P138

Serra Grande

P145

Colombia

P148

Gramalote

P150

La Colosa

P152

Definitions

P154

Glossary of terms

P156

Administrative

information

Inside back cover

Disclaimer

The information in this report that relates to Exploration Results, Mineral Resources and Ore Reserves is based on information compiled by the listed Competent Persons, who are, unless

otherwise specified, full-time employees of AngloGold Ashanti Limited. The membership details for each of the Competent Persons of approved professional organisation are included in

this report. The Competent Persons have sufficient experience relative to the type and style of mineral deposit under consideration and to the activity which has been undertaken, to qualify

as a Competent Person (or Recognised Mining Professional) as defined in the 2004 Edition of the JORC Code and the SAMREC code (2007 Edition). The Competent Persons consent to

the release of the Exploration Results, Mineral Resources and Ore Reserves in the form and context in which it appears.

Corporate profile

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Corporate profile

AngloGold Ashanti Limited is a leading global gold mining company, headquartered in Johannesburg, with a portfolio of

21 operations spanning 10 countries on four continents. For reporting purposes, operations are divided into five regions – Southern

Africa, Continental Africa, Australasia, North America and South America. In the company’s management structure, the African and

American operations fall under the executive vice presidents for Africa and the Americas respectively. The Australasian region is

similarly represented at executive level by a regional executive vice president.

As at 31 December 2009, AngloGold Ashanti had 362,240,669 ordinary shares in issue and a market capitalisation of

$14.6 billion (31 December 2008: $9.8 billion). AngloGold Ashanti’s primary listing is on the JSE Limited in Johannesburg.

It is also listed on exchanges in New York, London, Paris, Brussels, Australia and Ghana.

At the end of 2009, the government of Ghana held approximately 3% of AngloGold Ashanti’s shares. The balance of the

identifiable free float was held in the Americas (49%), South Africa (26%), the United Kingdom (12%), Europe (4%) and Asia

Pacific/the Middle East (3%).

In 2009, approximately 40% of AngloGold Ashanti’s production came from Southern Africa, including Namibia. Production

from the rest of Africa (Ghana, Tanzania, Guinea and Mali) made up a further 33%, South America (Brazil and Argentina) 13%,

North America (USA) 5% and Australasia (Australia) 9%.

The bulk of AngloGold Ashanti’s operations are under its own management. Typically contractors are used for mining activity

as a means of leveraging industry expertise, particularly at open-pit operations. In 2009 AngloGold Ashanti employed 63,364

people around the world, comprising 49,908 employees and 13,456 contractors.

Mali

Morila

137,000oz

Sadiola

135,000oz

Yatela

89,000oz

Guinea

Siguiri

316,000oz

Ghana

Iduapriem 190,000oz
Obuasi

381,000oz

South Africa

Great Noligwa

158,000oz

Kopanang 336,000oz
Maob Khotsong

247,000oz

Tau Lekoa

124,000oz

Surface Operations 164,000oz

West Wits
Mponeng 520,000oz
Savuka

30,000oz

TauTona

218,000oz

Australia

Sunrise Dam 401,000oz
Tropicana

Namibia

USA

Cripple Creek and
Victor 218,000oz

Argentina

Cerro Vanguardia

192,000oz

Tanzania

Geita 272,000oz

China

Yili Yunglong
Jinchanggou

DRC

Mongbwalu
Kibali

Operations

New exploration

Colombia

La Colosa
Quebradona
Gramalote

Philippines

Mapawa Area

Navachab 65,000oz

Vaal River

Russia

Veduga

Brazil

Serra Grande

77,000oz

Brasil Mineração 329,000oz

Canada

Gabon

Exploration

Egypt

Saudi Arabia
Eritrea

Solomon
Islands

New Zealand

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Key production statistics

Production (000 oz)

Gold sales ($ million)*

Total cash costs ($/oz)

2009

2008

2009

2008

2009

2008

Southern Africa

1,862

2,167

1,723

1,505

472

367

Continental Africa

1,520

1,562

1,019

1,148

608

544

Australasia

401

433

221

280

662

552

North America

218

258

171

240

385

334

South America

598

562

634

446

353

402

Group

4,599

4,982

3,768

3,619

514

444

Products and markets

In 2009 AngloGold Ashanti produced 4.599Moz (143,049kg) of gold, making the company one of the world’s leading gold

producers. To put this figure in perspective, total gold production in 2009 was estimated to be some 82.1Moz (2,533t).

AngloGold Ashanti’s own customers are typically banks acting as intermediaries in the supply chain. Sales take place either

directly to these customers or to Rand Refinery Limited, a South African-based refining company which buys gold from

AngloGold Ashanti either on its own account or acts as an agent for the company.

The geographical distribution of sales shown below reflects these arrangements and is based on the domicile of our

immediate customers. It does not necessarily reflect the location of the end-user of the product. The largest end-use markets

for gold are India, the Middle East, China and the USA.

Although the bulk of AngloGold Ashanti’s revenue (96%) comes from gold, the company also produces uranium from its

operations in South Africa, silver from its operations in Argentina and sulphuric acid from its operations in Brazil.

Exploration for future growth

The company is well positioned for future growth through substantial greenfields and brownfields exploration project pipelines.

AngloGold Ashanti’s track record of exploration discoveries compares favourably with its peer group: it has recorded five major

finds since 2003, including in Colombia, Brazil, Australia and the Democratic Republic of the Congo (DRC). Currently, the

company’s largest greenfields exploration projects are based in Western Australia, Colombia and the DRC. At 31 December 2009,

the group’s Proved and Probable Ore Reserves amounted to 71.4Moz of gold (2008: 74.9Moz).

Country

% sales

Asia

Europe

11%

North America

17%

Africa

44%

United Kingdom

17%

Australia

Geographical distribution of gold sales

for the year ended 31 December 2009

4,592,000

Total oz gold sold in 2009

$3,768m

Revenue from gold sales in 2009

Group overview

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Group overview

Ore Reserves and Mineral Resources are reported in accordance with the

minimum standards described by the Australasian Code for Reporting of

Exploration Results, Mineral Resources and Ore Reserves (JORC Code,

2004 Edition), and also conform to the standards set out in the South

African Code for the Reporting of Exploration Results, Mineral

Resources and Mineral Reserves (the SAMREC Code) 2007 edition.

Mineral Resources are inclusive of the Ore Reserve component unless

otherwise stated.

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Mineral Resource

When the 2008 Mineral Resource is restated to exclude the sale of Boddington (11.9Moz) and the purchase of Kibali (10.1Moz)

the Mineral Resource is reduced from 241.0Moz to 239.2Moz. The total Mineral Resource decreased from 239.2Moz in 2008

to 226.7Moz in December 2009. A year-on-year decrease of 6.3Moz (-3%) occurred before the subtraction of depletion and

a decrease of 12.5Moz (-5%) after the subtraction of depletion.

It should be noted that the changes in economic assumptions from 2008 to 2009 resulted in the Mineral Resource decreasing

by 2.8Moz whilst exploration and modelling resulted in an increase of 3.5Moz. The remaining loss of 6.9Moz resulted from

various other reasons. Depletions from the Mineral Resource for 2009 totalled 6.2Moz.

Mineral Resource

Moz

Mineral Resource as at
31 December 2008

241.0

Sale of Boddington

-11.9

Acquisition of Kibali

10.1

Restated 2008
Mineral Resource

239.2

Reductions
Obuasi

Predominantly due to changes in the underground Mineral Resource model and a
re-assessment of the surface Mineral Resource. This reduction does not impact on the
Ore Reserve.

-7.8

Vaal River Surface (VRGO)

Reductions due to lower uranium price

-3.2

Geita

Predominantly due to depletion, model updates and increase in costs

-1.4

Kibali

Conversion of Inferred to Indicated Mineral Resource resulted in losses

-1.2

West Wits Surface

Reductions due to lower uranium price

-1.2

Other

Total of non-significant changes

-4.0

Additions
Moab Khotsong

Gains due to exploration resulting in increase in confidence and grades

2.2

Other

Total of non-significant changes

4.1

Mineral Resource as at
31 December 2009

226.7

Ore Reserve

When the 2008 Ore Reserve is restated to exclude the sale of Boddington (6.7Moz) and the purchase of Kibali (2.5Moz), the

2008 Ore Reserve is reduced from 74.9Moz to 70.7Moz. Using the restated figure, the total AngloGold Ashanti Ore Reserve

increased from 70.7Moz in 2008 to 71.4Moz in December 2009. A year-on-year increase of 6.0Moz (8%) occurred before the

subtraction of 5.2Moz for depletion, resulting in an increase of 0.8Moz (1%) after the subtraction of depletion.

It should be noted that the changes in the economic assumptions from 2008 to 2009 resulted in the Ore Reserve increasing

3.2Moz while exploration and modelling resulted in a further increase of 2.7Moz.

Group overview

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Ore Reserve

Moz

Ore Reserve as at
31 December 2008

74.9

Sale of Boddington

-6.7

Acquisition of Kibali

2.5

Restated 2008 Ore Reserve

70.7

Reductions
Great Noligwa

Northern portion of mine was removed from plan to ensure profitability

-1.0

Kopanang

Reduction due to mine design changes plus slightly lower MCF, also changes
in geological structure, facies and evaluation model

-0.7

Cripple Creek & Victor

Adjustment due to heap leach reconciliation issues

-0.6

Other

Total of non-significant changes

-2.3

Additions
Tropicana

First Ore Reserve reported for Tropicana – based on enhanced pre-feasibility study and
owner mining

2.3

Kibali

Underground Ore Reserve additions (1.7Moz)

1.7

Sadiola

Deep Sulphides Ore Reserve included and ownership increased from 38% to 41%

1.0

Other

Total of non-significant changes

0.4

Ore Reserve as at
31 December 2009

71.4

By-products

Several by-products are recovered as a result of the processing of the gold Ore Reserves. These include 17,000t of uranium

oxide from the South African operations, 409,000t of sulphur from Brazil and 34.9Moz of silver from Argentina. Details of

the by-product Mineral Resource and Ore Reserve are given later in this report.

External audit of Mineral Resource and Ore Reserve statement

During the course of the year and as part of the rolling audit program, AngloGold Ashanti’s 2009 Mineral Resource at the

following operations was submitted for external audit by the Australian-based company Quantitative Group (QG):

•

Carbon Leader at Mponeng, TauTona and Savuka mines

•

Siguiri – Project Area 1

•

Navachab – Main Pit

•

Sadiola – Deep Sulphides

•

Geita – Nyankanga

•

Sunrise Dam – Underground

•

Obuasi – KMS Deep

•

Brasil Mineração – Cuiabá

The company has been informed that the audit identified no material shortcomings in the process by which AngloGold

Ashanti's Mineral Resource was evaluated. It is the company's intention to continue this process so that each of its operations

will be audited every three years on average.

Competent persons

The information in this report that relates to Exploration Results, Mineral Resources and Ore Reserves is based on information

compiled by the competent persons. These individuals are identified in the report. The competent persons consent to the

inclusion of Exploration Results, Mineral Resources and Ore Reserves information in this report, in the form and context in

which it appears.

During the past decade, the company has developed and implemented a rigorous system of internal and external reviews of

Exploration Results, Mineral Resources or Ore Reserves. A documented chain of responsibility exists from the competent

persons at the operations to the company's Mineral Resource and Ore Reserve Steering Committee. Accordingly, the

Chairman of the Mineral Resource and Ore Reserve Steering Committee, VA Chamberlain, MSc (Mining Engineering),

BSc (Hons) (Geology), MGSSA, MAusIMM, assumes responsibility for the Mineral Resource and Ore Reserve processes for

AngloGold Ashanti and is satisfied that the competent persons have fulfilled their responsibilities.

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Mineral Resource by country (attributable)

Contained

Tonnes

Grade

gold

as at 31 December 2009

Category

million

g/t

tonnes

Moz

South Africa

Measured

30.37

14.18

430.77

13.85

Indicated

300.55

7.59

2,281.63

73.36

Inferred

42.24 13.51

570.45 18.34

Total 373.16

8.80

3,282.85

105.55

Namibia

Measured

17.24 0.78

13.46 0.43

Indicated

66.84 1.24

82.57 2.65

Inferred 18.53

1.07

19.92

0.64

Total

102.60 1.13

115.95 3.73

Democratic Republic of the Congo

Measured

–

Indicated

59.17 3.29

194.93 6.27

Inferred

31.82 4.61

146.79 4.72

Total 90.99

3.76

341.72

10.99

Ghana Measured

80.21

4.98

399.77

12.85

Indicated 72.39

3.86

279.66

8.99

Inferred 98.44

3.88

382.02

12.28

Total 251.04

4.23

1,061.45

34.13

Guinea

Measured

36.58 0.68

24.73 0.80

Indicated

130.15 0.85

110.34 3.55

Inferred

78.22 0.89

69.85 2.25

Total

244.95 0.84

204.92 6.59

Mali

Measured

18.34 1.46

26.86 0.86

Indicated

37.23 1.82

67.80 2.18

Inferred

20.89 1.77

36.94 1.19

Total 76.46

1.72

131.59

4.23

Tanzania Measured

–

Indicated

87.70 3.46

303.46 9.76

Inferred

13.03 4.04

52.63 1.69

Total 100.73

3.54

356.10

11.45

Australia

Measured

34.10 1.87

63.60 2.04

Indicated

38.83 2.88

111.97 3.60

Inferred

15.34 3.01

46.13 1.48

Total

88.26 2.51

221.69 7.13

United

States

Measured 280.80 0.82

231.03 7.43

Indicated

194.55 0.73

142.71 4.59

Inferred

73.12 0.73

53.58 1.72

Total 548.46

0.78

427.31

13.74

Argentina

Measured

12.00 1.78

21.37 0.69

Indicated

22.70 3.38

76.62 2.46

Inferred

6.16 3.71

22.82 0.73

Total

40.85 2.96

120.81 3.88

Brazil

Measured

11.24 6.49

72.93 2.34

Indicated

15.16 6.02

91.28 2.93

Inferred

30.53 6.76

206.35 6.63

Total 56.93

6.51

370.56

11.91

Colombia Measured

–

Indicated

15.16 0.93

14.18 0.46

Inferred 402.51

1.00

401.40

12.91

Total 417.67

0.99

415.57

13.36

Total Measured

520.88

2.47

1,284.51

41.30

Indicated 1,040.43 3.61

3,757.14

120.79

Inferred 830.81

2.42

2,008.87

64.59

Total 2,392.12

2.95

7,050.53

226.68

Group overview

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Exclusive Mineral Resource* by country (attributable)

Contained

Tonnes

Grade

gold

as at 31 December 2009

Category

million

g/t

tonnes

Moz

South Africa

Measured

22.89

14.34

328.17

10.55

Indicated

100.15

11.48

1,149.86

36.97

Inferred

21.11

15.73

332.07

10.68

Total

144.15

12.56

1,810.10

58.20

Namibia

Measured

7.39

0.59

4.34

0.14

Indicated

34.43

1.19

40.99

1.32

Inferred

18.53

1.07

19.92

0.64

Total

60.35

1.08

65.24

2.10

Democratic Republic of the Congo

Measured

–

Indicated

30.46

2.18

66.28

2.13

Inferred

31.82

4.61

146.79

4.72

Total

62.28

3.42

213.07

6.85

Ghana

Measured

27.08

5.05

136.86

4.40

Indicated

34.89

3.99

139.29

4.48

Inferred

53.62

3.86

206.88

6.65

Total

115.58

4.18

483.02

15.53

Guinea

Measured

3.75

0.78

2.93

0.09

Indicated

45.56

0.86

39.30

1.26

Inferred

78.22

0.89

69.85

2.25

Total

127.52

0.88

112.07

3.60

Mali

Measured

4.86

0.79

3.85

0.12

Indicated

20.27

1.58

32.05

1.03

Inferred

20.89

1.77

36.94

1.19

Total

46.02

1.58

72.84

2.34

Tanzania

Measured

–

Indicated

43.22

3.21

138.72

4.46

Inferred

13.03

4.04

52.63

1.69

Total

56.24

3.40

191.35

6.15

Australia

Measured

1.70

1.36

2.32

0.07

Indicated

13.11

3.00

39.34

1.26

Inferred

15.34

3.01

46.13

1.48

Total

30.15

2.91

87.79

2.82

United States

Measured

180.98

0.77

138.73

4.46

Indicated

148.15

0.69

101.53

3.26

Inferred

68.65

0.74

50.77

1.63

Total

397.78

0.73

291.04

9.36

Argentina

Measured

2.29

3.08

7.06

0.23

Indicated

16.04

2.17

34.80

1.12

Inferred

6.16

3.71

22.82

0.73

Total

24.49

2.64

64.68

2.08

Brazil

Measured

4.31

6.41

27.63

0.89

Indicated

8.20

5.77

47.29

1.52

Inferred

29.45

6.81

200.66

6.45

Total

41.96

6.57

275.57

8.86

Colombia

Measured

–

Indicated

15.16

0.93

14.18

0.46

Inferred

402.51

1.00

401.40

12.91

Total

417.67

0.99

415.57

13.36

Total

Measured

255.24

2.55

651.88

20.96

Indicated

509.64

3.62

1,843.61

59.27

Inferred

759.32

2.09

1,586.84

51.02

Total

1,524.20

2.68

4,082.34

131.25

* The Exclusive Mineral Resource excludes the Ore Reserve component

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Ore Reserve by country (attributable)

Contained

Tonnes

Grade

gold

as at 31 December 2009

Category

million

g/t

tonnes

Moz

South

Africa

Proved

8.80 8.13

71.60 2.30

Probable 213.96

4.16

890.80

28.64

Total 222.76

4.32

962.40

30.94

Namibia

Proved

9.85 0.93

9.12 0.29

Probable

32.40 1.28

41.42 1.33

Total

42.25 1.20

50.55 1.63

Democratic Republic of the Congo

Proved

–

Probable 28.71

4.48

128.65

4.14

Total

28.71 4.48

128.65 4.14

Ghana

Proved

40.29 3.36

135.34 4.35

Probable

51.31 4.66

239.31 7.69

Total 91.60

4.09

374.65

12.05

Guinea

Proved

30.83 0.64

19.59 0.63

Probable

87.85 0.86

75.99 2.44

Total

118.67 0.81

95.58 3.07

Mali

Proved

9.24 1.99

18.35 0.59

Probable

18.96 2.02

38.32 1.23

Total 28.21

2.01

56.67

1.82

Tanzania Proved

–

Probable

47.36 3.33

157.57 5.07

Total 47.36

3.33

157.57

5.07

Australia

Proved

23.63 2.24

53.00 1.70

Probable

25.72 2.82

72.63 2.34

Total

49.35 2.55

125.63 4.04

United States

Proved

99.82 0.92

92.29 2.97

Probable

46.40 0.89

41.17 1.32

Total

146.22 0.91

133.47 4.29

Argentina

Proved

10.76 1.37

14.78 0.48

Probable

9.64 4.53

43.66 1.40

Total

20.40 2.86

58.44 1.88

Brazil

Proved

6.67 5.90

39.37 1.27

Probable

7.30 5.37

39.21 1.26

Total

13.97 5.63

78.58 2.53

Total Proved

239.89

1.89

453.45

14.58

Probable 569.61

3.11

1,768.73

56.87

Total 809.50

2.75

2,222.19

71.44

Group overview

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Reconciliation of Mineral Resource and Ore Reserve

as at 31 December 2009

Au Content (attributable) Moz

Deple-

Gold

Explo-

Metho-

Model

Scope

Mine

Category

2008

tion

(1)

price

Cost

ration

dology

Other change

(2)

change

(3)

Southern Africa region

Great Noligwa

Resource

7.65

-0.23

–

-0.49

0.02

–

Reserve

2.63

-0.15

–

-0.07

-0.80

Kopanang

Resource

9.49

-0.63

0.08

–

1.10

–

Reserve

4.00

-0.35

0.08

-0.30

-0.08

Moab Khotsong

Resource

18.24

-0.33

0.61

-0.01

2.23

-0.08

-0.22

Reserve

7.32

-0.25

–

0.09

-0.02

Tau Lekoa

Resource

5.31

-0.19

0.90

-0.04

0.17

0.05

–

Reserve 0.92 -0.19

–

0.07

Vaal River

Resource

5.02

-0.17

–

-3.13

0.14

–

Surface (VRGO)

Reserve

1.91

-0.18

–

0.01

–

Mponeng

Resource

49.43

-0.67

-0.14

0.09

0.93

–

0.19

Reserve

12.99

-0.56

–

-0.47

0.75

Savuka

Resource

4.37

-0.06

–

-0.26

-0.21

–

Reserve

0.76

-0.03

–

0.02

-0.07

TauTona

Resource

7.14

-0.23

–

0.01

-0.54

–

-0.19

Reserve

3.08

-0.21

–

-0.11

-0.03

West Wits

Resource

1.37

-0.01

–

-1.17

0.01

–

Surface

Reserve

0.04

-0.01

–

0.15

–

Navachab

Resource

4.33

-0.25

0.09

-0.40

0.34

0.01

-0.38

Reserve

1.34

-0.08

–

0.21

0.16

Total

Resource 112.33

-2.77

1.54

-5.39

4.18

-0.01

-0.60

–

Reserve

35.00

-2.02

–

0.08

-0.46

-0.03

Continental Africa region

Iduapriem

Resource

4.87

-0.24

0.24

-0.28

–

Reserve

2.55

-0.18

0.01

–

0.02

Obuasi

Resource

37.35

-0.51

–

-0.13

0.01

-1.72

-5.47

Reserve

9.66

-0.65

–

-2.75

3.38

Siguiri

Resource

5.94

-0.29

0.09

-0.43

0.46

0.90

-0.08

Reserve

3.25

-0.26

-0.30

0.18

0.20

Morila

Resource

0.46

-0.14

0.01 –

-0.01

0.01

Reserve

0.46

-0.16

0.01

-0.01

0.02

Sadiola

Resource

3.13

-0.15

0.08

0.29

–

0.57

-0.18

Reserve

0.42

-0.15

0.26

0.93

–

Yatela

Resource

0.35

-0.13

0.01 –

–

-0.02

-0.06

Reserve

0.16

-0.13

0.01 –

–

Geita

Resource

12.86

-0.56

0.03

-0.32

0.17

-0.72

-0.02

Reserve

5.11

-0.31

-0.02

0.53

-0.25

Mongbwalu

Resource

2.53

–

-0.21 –

Reserve –

–

Kibali

Resource

–

-1.24

10.13

Reserve –

2.48

1.66 –

Total

Resource

67.49

-2.01

0.46

-1.08

0.62

-2.43

4.33

–

Reserve

21.62

-1.82

–

2.44

0.55

3.37

1. Depletion: reduction in Ore Reserve based on ore delivered to the plant and corresponding in situ reduction in the Mineral Resource.

2. Model change: difference between the Ore Reserve based on the start of year and end of year Mineral Resource models.

3. Scope change: difference resulting from change in cut-off grade, mine call factor, new project studies and any other factors influencing the Ore Reserve estimations.

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Au Content (attributable) Moz

Net

2009

diff

Comment

6.94

-0.71

-9%

Removal of safety pillars from the Mineral Resource

1.60

-1.02

-39%

Northern portion of mine was removed from plan to ensure profitability

10.04

0.55

Reclassification of the Mineral Resource, changes in structure and re-evaluation of macro
estimates resulted in an increase in ounces

3.35

-0.65

-16%

Due to mine design changes plus slightly lower MCF, also changes in geological structure,
facies and evaluation models

20.45

2.21

12%

Gains due to areas being upgraded and also increase in confidence and value

7.14

-0.19

-3%

6.20

0.89

17%

Area south-east of Jonkerskraal was re-instated due to economics, net change in value,
stope width, dip and structure

0.80

-0.12

-13%

Only depletions were subtracted for 2009

1.86

-3.16

-63%

3.13Moz was removed from the Mineral Resource due to economics

1.74

-0.17

-9%

49.83

0.40

Depletion was offset by gains from exploration and inter-shaft transfers

12.72

-0.28

-2%

3.84

-0.53

-12%

Net change in value and structure

0.69

-0.07

-10%

Extraction will return to normal levels from mid 2010

6.20

-0.95

-13%

Geological structure changes as well as a drop in grade, combined with transfers to and
from Mponeng

2.73

-0.35

-11%

Mine was temporarily closed for refurbishing of shaft steelwork

0.20

-1.17

-86%

1.16Moz was removed from the Mineral Resource due to economics

0.18

0.14

326%

Gains due to the addition of the Mponeng waste rock dump

3.73

-0.60

-14%

Increase in operating costs and adjustment for various factors

1.63

0.29

22%

Remodelling added ounces to the North Pit plus re-design of the Western Pushback and Gecko

109.27

-3.06

-3%

32.57

-2.43

-7%

4.60

-0.27

-6%

Gains from gold price were offset by increase in costs

2.40

-0.16

-6%

29.53

-7.83

-21%

Changes predominantly due to clean out and modelling changes

9.65

-0.01

6.59

0.65

11%

Gains due to change in modelling method

3.07

-0.18

-5%

0.33

-0.13

-29%

Changes predominantly due to depletion

0.32

-0.14

-30%

Changes predominantly due to depletion

3.76

0.62

20%

Increase in attributable portion from 38% to 41%

1.46

1.04

248%

Deep Sulphides included (929koz) and attributable portion increased from 38% to 41%

0.15

-0.20

-58%

Decrease due to stockpile and Mineral Resource shell adjustments, depletion and exclusion
of hard material

0.04

-0.12

-73%

Changes predominantly due to depletion

11.45

-1.41

-11%

Changes predominantly due to depletion, model updates and increase in costs

5.07

-0.05

-1%

2.10

-0.43

-17%

Decrease due to a more constrained geological model and a higher cut-off grade for
underground mining

8.89

New acquisition plus reduction due to constraining Mineral Resource in pit shells

4.14

New acquisition plus increased underground Ore Reserve

67.38

-0.10

26.14

4.52

21%

Group overview

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Reconciliation of Mineral Resource and Ore Reserve cont.

as at 31 December 2009

Au Content (attributable) Moz

Deple-

Gold

Explo-

Metho-

Model

Scope

Mine

Category

2008

tion

(1)

price

Cost

ration

dology

Other change

(2)

change

(3)

Australasia region

Boddington

Resource

11.91

–

-11.91

Reserve

6.69

–

-6.69

Sunrise Dam

Resource

3.85

-0.48

0.06

–

0.27

–

-0.08

Reserve

1.90

-0.45

–

0.13

0.15

Tropicana

Resource

3.51

–

Reserve

–

2.31

–

Total

Resource

19.27

-0.48

0.06

–

0.27

–

-11.99

–

Reserve

8.59

-0.45

–

-6.69

2.44

0.15

North America region

CC&V

Resource

13.31

-0.31

2.07

-0.49

0.60

-1.44

–

Reserve

4.93

-0.30

–

-0.02

-0.32

Total

Resource

13.31

-0.31

2.07

-0.49

0.60

-1.44

–

Reserve

4.93

-0.30

–

-0.02

-0.32

South America region

Cerro Vanguardia

Resource

3.73

-0.18

–

0.27

0.07

–

Reserve

1.84

-0.20

0.01

0.11

0.12

Brasil Mineração

Resource

10.53

-0.39

–

0.29

0.46

–

Reserve

2.56

-0.35

0.08

-0.04

-0.08

Serra Grande

Resource

0.98

-0.10

–

0.11

0.05

–

Reserve

0.36

-0.09

–

0.08

–

Gramalote

Resource

1.04

–

0.46

–

-0.45

Reserve

0.00

La Colosa

Resource

12.32

–

Reserve

0.00

Total

Resource

28.59

-0.67

–

1.12

0.57

-0.45

–

Reserve

4.76

-0.64

–

0.09

0.15

0.04

Grand total

Resource

240.98

-6.24

4.13

-6.96

6.79

-3.31

-8.71

–

Reserve

74.89

-5.24

–

-4.08

2.65

3.22

1. Depletion: reduction in Ore Reserve based on ore delivered to the plant and corresponding in situ reduction in the Mineral Resource.

2. Model change: difference between the Ore Reserve based on the start of year and end of year Mineral Resource models.

3. Scope change: difference resulting from change in cut-off grade, mine call factor, new project studies and any other factors influencing the Ore Reserve estimations.

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Au Content (attributable) Moz

Net

2009

diff

Comment

–

-11.91

-100%

Sold

–

-6.69

-100%

Sold

3.62

-0.24

-6%

1.73

-0.17

-9%

Gains due to additional drilling, design change and economic factors were offset by depletion

3.51

–

No change

2.31

First Ore Reserve reported for Tropicana, based on enhanced pre-feasibility study and owner mining

7.13

-12.14

-63%

4.04

-4.55

-53%

13.74

0.43

Depletion was offset by the addition of the Cresson pushback

4.29

-0.63

-13%

Decrease is due to recovery curve changes based on updated data and cut-off grade changes

facilitated by equipment constraints

13.74

0.43

4.29

-0.63

-13%

3.88

0.16

Gains due to exploration

1.88

0.04

Slight gain due to change in design and operative costs

10.88

0.36

Additions at CdS II, model changes at Cuiabá, Lamego and CdS I

2.18

-0.38

-15%

1.03

0.05

Change in mining method, reclassification and model

0.35

-0.01

-4%

1.04

–

Additional drilling resulted in upgrading of the Inferred Mineral Resource to Indicated Mineral Resource

12.32

–

No change

29.16

0.57

4.41

-0.36

-7%

226.68

-14.30

-6%

71.44

-3.45

-5%

West Wits

Mponeng

Mineral Resource

49.83Moz

Ore Reserve

12.72Moz

Savuka

Mineral Resource

3.84Moz

Ore Reserve

0.69Moz

TauTona

Mineral Resource

6.20Moz

Ore Reserve

2.73Moz

Surface operations

Mineral Resource

0.20Moz

Ore Reserve

0.18Moz

Namibia

Navachab

Mineral Resource

3.73Moz

Ore Reserve

1.63Moz

Operations

South Africa

Vaal River

Great Noligwa

Mineral Resource

6.94Moz

Ore Reserve

1.60Moz

Kopanang

Mineral Resource

10.04Moz

Ore Reserve

3.35Moz

Moab Khotsong

Mineral Resource

20.45Moz

Ore Reserve

7.14Moz

Tau Lekoa

Mineral Resource

6.20Moz

Ore Reserve

0.80Moz

Surface operations

Mineral Resource

1.86Moz

Ore Reserve

1.74Moz

Southern Africa

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Southern Africa

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Regional overview

AngloGold Ashanti’s Southern Africa region includes the group operations in South Africa and Namibia.

In 2009, the Southern Africa region produced 1.862Moz (57,922kg) of gold, equivalent to 40% of group production, at a total

cash cost of $472/oz.

The Mineral Resource in Southern Africa, attributable to AngloGold Ashanti, totalled 109.27Moz at year-end and the

attributable Ore Reserve, 32.57Moz.

Mineral Resource by region (attributable)

Contained

Tonnes

Grade

gold

as at 31 December 2009

Category

million

g/t

tonnes

Moz

Southern Africa

Measured

47.61

9.33

444.23

14.28

Indicated

367.39

6.44

2,364.20

76.01

Inferred

60.77

9.72

590.37

18.98

Total

475.76

6.97

3,398.80

109.27

Ore Reserve by region (attributable)

Contained

Tonnes

Grade

gold

as at 31 December 2009

Category

million

g/t

tonnes

Moz

Southern Africa

Proved

18.65

4.33

80.73

2.60

Probable

246.36

3.78

932.22

29.97

Total

265.01

3.82

1,012.95

32.57

Southern Africa – South Africa

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

South Africa

Regional overview

The South African operations comprise seven underground mines located in two geographical regions on the Witwatersrand

Basin called the Vaal River and West Wits operations.

The Vaal River operations consist of the Great Noligwa, Kopanang, Moab Khotsong and Tau Lekoa mines. The primary reefs

mined in this region are the Vaal Reef (VR) and the Ventersdorp Contact Reef (VCR) and the secondary Crystalkop Reef

(C Reef).

The West Wits operations are made up of Mponeng, Savuka and TauTona, which are situated near the town of Carletonville.

The primary reefs mined are the Carbon Leader Reef (CLR) and the VCR.

All seven operations are 100% owned by AngloGold Ashanti. In addition, the Vaal River Surface and West Wits Surface

operations mine the waste rock dumps and tailings dams which result from the mining and processing of the primary and

secondary reef horizons.

The South African operations are all located in the rocks of the famous Witwatersrand Basin, which is regarded as the greatest

gold-bearing repository on Earth.

Geology of the Witwatersrand Basin

The Witwatersrand Supergroup (deposited in area often described as the Witwatersrand Basin) comprises a 6km-thick

sequence of predominantly argillaceous and arenaceous sediments that extend laterally for some 300km north-east/south-

west and 100km north-west/south-east on the Kaapvaal Craton. The upper portion of the sequence contains the laterally

extensive, gold-bearing quartz pebble conglomerate horizons (commonly referred to as “reefs”).

Further west, south and east the basin is overlain by up to 4km of Archaean, Proterozoic and Mesozoic volcanic and sedimentary

rocks. The Witwatersrand Basin is late Archaean in age and is considered to be around 2.7 to 2.8 billion years old.

The reefs, which are generally less than 2m thick, are widely considered to represent laterally extensive braided fluvial deposits.

Separate fan systems were developed at different entry points and these are preserved as distinct goldfields with local

geological variations. AngloGold Ashanti operates in two of these goldfields, known as the Carletonville (West Wits) and

Klerksdorp (Vaal River) goldfields.

There is still debate about the origin of the gold mineralisation in the Witwatersrand Basin. Gold was generally considered to

have been deposited syngenetically with the conglomerates, but increasingly an epigenetic theory of origin is being supported.

Nonetheless, the most fundamental determinant of gold distribution in the basin remains the sedimentary features, such as

facies variations and channel directions. Gold generally occurs in native form often associated with pyrite and carbon, with

quartz being the main gangue mineral.

West Wits operations

Two reef horizons are exploited at the West Wits operations: the VCR, located at the top of the Central Rand Group, and the

CLR near the base. The separation between the two reefs increases from north to south, from 400 to 900m, owing to non-

conformity of the VCR horizon. TauTona and Savuka exploit both reefs, while Mponeng currently only mines the VCR. The

structure is relatively simple, with rare instances of faults greater than 70m.

The CLR consists of one or more conglomerate units and varies from several centimetres to more than 3m in thickness.

Regionally, the VCR dips at approximately 21°, but may vary between 5° and 50°, accompanied by changes in thickness of

the conglomerate units. Where the conglomerate has the attitude of the regional dip, it tends to be thick, well-developed and

accompanied by higher gold accumulations. Where the attitude departs significantly from the regional dip, the reef is thin and

gold grades tend to be erratic.

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Vaal River operation

In order of importance, the reefs mined at the Vaal River operations are the VR, the VCR and the C Reef:

•

The VR contains approximately 85% of the Ore Reserve tonnage with mining grades of between 10 and 20g/t gold and

comprises a series of oligomictic conglomerates and quartzite packages developed on successive non-conformities.

Several distinct facies have been identified, each with its own unique gold distribution and grade characteristic.

Johannesburg

Ventersdorp

Carletonville

Potchesftroom

40km

Legend

TauTona

Savuka

Mponeng

Towns

Other mines

Fochville

Johannesburg

Ventersdorp

Carletonville

Parys

Potchefstroom

Klerksdorp

Orkney

40km

Legend

Great Noligwa

Moab Khotsong

Kopanag

Tau Lekoa

Towns

Other mines

Fochville

Vaal River

Vaal River operations

West Wits operations

Southern Africa – South Africa

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

•

The VCR has a lower gold grade than the VR, and contains approximately 15% of the estimated Ore Reserve. The
economic portion is concentrated in the western part of the lease area and can take the form of a massive conglomerate,
a pyritic sand unit with intermittent pebble layers, or a thin conglomerate horizon. The reef is located at the contact between
the overlying Kliprivierberg Lavas of the Ventersdorp Super Group and the underlying sediments of the Witwatersrand Super
Group, which creates a distinctive seismic reflector. The VCR is located up to 1km above the VR.

•

The C Reef is a thin, small-pebble conglomerate with a carbon-rich basal contact, located approximately 270m above the
VR. It has less than 1% of the estimated Ore Reserve with gold grades similar to those of the VR, but less continuity. The
most significant structural features are the north-east striking normal faults which dip to the north-west and south-east,
resulting in zones of fault loss.

Mineral Resource and Ore Reserve gold prices and exchange rates

Units

2009

2008

Gold price – Mineral Resource

US$/oz

1,025

1,000

Gold price – Ore Reserve

US$/oz

800

720

Exchange rate – South Africa

ZAR/US$

8.85

8.67

Mineral Resource estimation

A multi-disciplinary approach is adapted to Mineral Resource estimation whereby inputs are required from the geoscience,
survey and mine planning departments. A computerised system called the Mineral Resource Inventory System (MRIS)
integrates all the input information to produce the final Mineral Resource per operation. Mineral Resource estimates
are computed from a composite grid of value estimates, comprising various block sizes. The macro block sizes vary from
210m x 210m to 420m x 420m with micro blocks of 30m x 30m.

Compound lognormal macro co-kriging estimation techniques are used to produce estimates for the larger block sizes. This
technique uses the Bayesian approach whereby the assayed (observed) data in the mined-out areas are used to infer the
population characteristics of the area ahead of current mining. The geological model forms the basis for this estimation and all
surface borehole information from the peripheral areas of the mine lease play a crucial role in determining the geological model
boundaries. Simple kriging is used for the 30m block sizes and these estimates are constrained by the weight of the mean.

The Mineral Resource is initially reported as inclusive of the Ore Reserve as they form the basis for the Ore Reserve conversion
process. Mineral Resource cut-offs are computed by operation, for each reef horizon. These cut-offs incorporate a profit
margin that is relevant to the business plan. Mineral Resource grade tonnage curves are produced for the individual
operations, which show the potential of the orebody at different cut-offs. These curves are produced for dimensions equivalent
to a practical mining unit for underground operations.

Exclusive Mineral Resource

The Exclusive Mineral Resource is defined as the inclusive Mineral Resource minus the in-situ Ore Reserve before stoping
width, dilution and mine call factors (MCF) are applied. Scoping studies are conducted on this Exclusive Mineral Resource,
where capital requirements and current costs are used to test economic potential. If these studies show no reasonable
economic potential at the Mineral Resource gold price then the material is excluded from the Mineral Resource. All planned
pillars (ahead of current mining) form part of the Exclusive Mineral Resource.

Details of average drillhole spacing and type in relation to Mineral Resource classification

Type of drilling

Mine/

Spacing

Diamond

RC Blast- Other

Comments

Project

Category

m (- x -)

hole

Great Measured

5 x 5

–

Chip sampling of stope faces

Noligwa

Indicated

100 x 100

–

Diamond drilling from development ends

Inferred

200 x 200

–

Diamond drilling from development ends

Grade control

–

See Measured category

Kopanang

Measured

5 x 5

–

Chip sampling of stope faces

Indicated

200 x 200

–

Diamond drilling from development ends

Inferred

1,000 x 1,000

–

Surface drillholes

Grade control

–

See Measured category

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Details of average drillhole spacing and type in relation to Mineral Resource classification cont.

Type of drilling

Mine/

Spacing

Diamond

RC Blast- Other

Comments

Project

Category

m (- x -)

hole

Moab

Measured

5 x 5

–

Chip sampling of stope faces

Khotsong

Indicated

2 x 200

–

Diamond drilling from development ends

Inferred

1,000 x 1,000

–

Surface drillholes

Grade control

–

See Measured category

Mponeng

Measured

5 x 5

–

Chip sampling of stope faces

Indicated

100 x 100

–

Diamond drilling from development ends

Inferred

1,000 x 1,000

–

Surface drillholes

Grade control

–

See Measured category

Savuka

Measured

5 x 5

–

Chip sampling of stope faces

Indicated

100 x 100

–

Diamond drilling from development ends

Inferred

1,000 x 1,000

–

Surface drillholes

Grade control

–

See Measured category

Tau Lekoa

Measured

5 x 5

–

Chip sampling of stope faces

Indicated

50 x 200

–

Diamond drilling from development ends

Inferred

1,000 x 1,000

–

Surface drillholes

Grade control

–

See Measured category

TauTona

Measured

5 x 5

–

Chip sampling of stope faces

Indicated

2 x 200

–

Diamond drilling from development ends

Inferred

1,000 x 1,000

–

Surface drillholes

Grade control

–

See Measured category

Vaal River

Measured

–

Run of mine sampling

Surface

Indicated

–

Run of mine sampling

Inferred

–

Run of mine sampling

Grade control

–

Run of mine sampling

West Wits

Measured

–

Run of mine sampling

Surface

Indicated

–

Run of mine sampling

Inferred

–

Run of mine sampling

Grade control

–

Run of mine sampling

Ore Reserve estimation

All mine designs are undertaken using the Cadsmine

software package and include the delineation of mining or stoping areas

for each mining level and section, usually leading from an extension to the existing mining sequence, and the definition of the

necessary development layouts. The in situ Mineral Resource is scheduled monthly for the full Life-Of-Mine (LOM) plan. The

value estimates for these schedules are derived directly from the MRIS.

Modifying factors are applied to the in situ Mineral Resource to arrive at an Ore Reserve. These factors comprise a dilution

factor to accommodate the difference between the mill width and the stoping width as well as the MCF.

Inferred Mineral Resource in business plan

The LOM plans include a minimal Inferred Mineral Resource.

Southern Africa – South Africa

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Ore Reserve modifying factors

as at 31 December 2009

Mine call

Metal-

Cut-off

Stoping

factor

lurgical

weighted

grade

width

Dilution

(MCF) recovery

Mine

g/t

cmg/t

Great Noligwa

Crystalkop Reef

9.20

1,200

129.9

63.20

96.34

Vaal Reef

7.10

1,200

169.1

63.20

96.34

Kopanang

Crystalkop Reef

4.90

500

102.0

68.44

97.54

Vaal Reef Base

4.90

500

102.0

68.44

97.54

Vaal Reef EDOM

4.90

500

102.0

68.44

97.54

Moab Khotsong

C Reef – Middle Mine area

4.57

750

164.0

62.90

94.57

Lower Mine – area PZ2

5.90

750

127.2

78.00

96.88

VR – Middle Mine area

5.06

750

148.2

80.05

97.13

VR – Top Mine area

4.57

750

164.0

68.82

96.95

Tau Lekoa

Jonkerskraal

2.78

400

144.0

84.32

97.35

VCR Base

2.78

400

144.0

84.32

97.35

Vaal River Surface

SA Met – rock dump

0.38

–

100.00

91.00

SA Met – tailings dump

0.28

–

100.00

48.00

Mponeng

CLR below 120 level

6.41

750

117.0

81.00

98.45

TauTona CLR Eastern Block

7.89

750

95.0

81.00

98.45

VCR 109 to 120 level

5.36

750

140.0

86.27

98.00

VCR above 109 level

5.36

750

140.0

87.04

97.95

VCR below 120 level

5.36

750

140.0

91.96

98.24

Savuka

Carbon Leader Reef

7.96

900

113.0

63.46

97.31

Ventersdorp Contact Reef

7.96

900

113.0

63.46

97.31

TauTona

CLR – 1C11

7.89

947

120.0

81.51

97.78

CLR Base

9.97

947

95.0

149

81.51

97.78

CLR below 120

9.97

947

95.0

81.51

97.78

EOB between 100 & 112 levels

9.97

947

95.0

81.51

97.78

VCR shaft pillar

5.26

947

180.0

85.00

97.78

West Wits Surface

WWGO – rock dump

0.51

–

100.00

91.00

WWGO – tailings dump

–

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Development sampling results – January to December 2009

Development values represent actual results of sampling, no allowances having been made for adjustments necessary in

estimating the Ore Reserve.

Advanced

Average

Sampled gold

Uranium

Statistics are shown in

metres

Sampled

channel

Average

metric units

(total)

metres

width (cm)

g/t

cm g/t

kg/t

cm kg/t

Vaal River

Great Noligwa

Vaal Reef

2,842

196

108.5

8.93

969

0.62

67.41

Kopanang

Vaal Reef

25,653

2,606

25.2

67.66

1,705

3.55

93.00

Moab Khotsong

Vaal Reef

17,644

1,488

130.8

22.13

2,895

1.12

146.69

Tau Lekoa

Ventersdorp Contact Reef

8,084

1,116

91.5

8.30

759

0.02

2.17

West Wits

TauTona

Ventersdorp Contact Reef

720

147.7

14.43

2,132

0.11

15.69

Carbon Leader Reef

8,412

174

12.8

211.80

2,711

2.48

31.70

Savuka

Ventersdorp Contact Reef

–

100.8

24.05

2,424

–

Carbon Leader Reef

1,350

100.3

53.18

5,334

–

Mponeng

Ventersdorp Contact Reef

17,465

2,446

58.0

34.95

2,027

–

Uranium

AngloGold Ashanti produces a uranium oxide concentrate (U

) as a by-product from its South African gold mining

operations. AngloGold Ashanti currently produces between 500 and 600t of U

annually. Although mined as a by-product

of gold for many years, U

was not considered a Mineral Resource until 2005. Due to the rapid increase in the U

price

over the last few years, renewed focus has been placed on the U

content within the Witwatersrand reefs.

The AngloGold Ashanti mines in the Vaal River region that currently produce uranium oxide as a by-product are Great Noligwa,

Kopanang, and Moab Khotsong. The uranium oxide is extracted from the VR, although Great Noligwa mine also produces

some uranium oxide from the C Reef. The mines in the West Wits region that have uranium Mineral Resources are Mponeng,

Savuka and TauTona and in this mining region the uranium is only present in the CLR and is currently not being extracted.

The mineralised ore from Moab Khotsong, Great Noligwa and Kopanang is milled in the Noligwa gold plant and treated in the

South uranium plant for uranium extraction by the reverse leach process. The ammonium diuranate is transported to Nufcor

where the material is calcined and packed for shipment to the converters.

The surface tailings storage facilities that have been classified as uranium Mineral Resources are the Kopanang Paydam and

the tailings storage facilities in the West Wits region. Uraninite and brannerite are the most common uranium-bearing minerals,

although uraniferous leucoxene and coffinite are also present. Uraninite was the original primary uranium-bearing mineral and

was possibly introduced as detrital material during the deposition of the Witwatersrand sediments.

Mineral Resource – Uranium (U

)

Contained

Resource

Tonnes

Grade

uranium oxide

Pounds

Mine/Project

Category

million

g/t

tonnes

Moz

Crystalkop

Reef

Measured

0.91 7.15 6.53 0.21

Indicated

4.98 9.53

47.45 1.53

Inferred

1.47 8.52

12.50 0.40

Total

7.36 9.03

66.48 2.14

Vaal Reef

Measured

7.03

14.23

100.06

3.22

Indicated

2.54 14.06 35.66 1.15

Inferred

1.13 12.09 13.69 0.44

Total 10.70

13.96

149.41

4.80

Great Noligwa

Total

18.06

11.95

215.89

6.94

Exclusive Mineral Resource

as at 31 December 2009

Contained

Tonnes

Grade

gold

Great Noligwa

Category

million

g/t

tonnes

Moz

Measured

4.99

12.38

61.76

1.99

Indicated

4.99

9.86

49.14

1.58

Inferred

2.20

9.33

20.49

0.66

Great Noligwa

Total

12.17

10.79

131.39

4.22

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Ore Reserve

as at 31 December 2009

Contained

Tonnes

Grade

gold

Great Noligwa

Category

million

g/t

tonnes

Moz

Crystalkop Reef

Proved

0.47

6.11

2.85

0.09

Probable

1.37

6.10

8.33

0.27

Total

1.83

6.10

11.18

0.36

Vaal Reef

Proved

3.19

7.98

25.48

0.82

Probable

1.67

7.85 13.13

0.42

Total

4.86

7.94

38.61

1.24

Great Noligwa

Total

6.70

7.44

49.80

1.60

Great Noligwa: Ore Reserve reconciliation

2008 vs 2009

Ounces (millions)

2.63

2008

-0.15

Depletion

-0.07

Model

Change

0.00
New

ounces

from

projects

-0.80

Scope

Change

1.60

2009

0.00

Change in

Economics

1.0

0.00

Other

3.0

2.0

Great Noligwa: Mineral Resource reconciliation

2008 vs 2009

Ounces (millions)

7.65

2008

-0.23

Depletion

0.00

Gold
price

0.02

Exploration

0.00

Metho-

dology

6.94

2009

-0.50

Cost

6.5

6.0

0.00

Other

8.0

7.5

7.0

Change

64 level

70 level

76 level

Datum - 2000m

Datum - 500m

MM shaft

Shaft
bottom

JERSEY

FAULT

GREAT NOLIGWA MINE

VENT MAIN-SUB

GREAT NOLIGWA MINE
MAIN-SUB VENT

-522m

Below datum

KERVAL ROAD

DYKE

MOAB KHOTSONG MINE MAIN

Section through Great Noligwa and Moab Khotsong mines

Southern Africa – South Africa – Great Noligwa

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Competent persons

Professional

Registration

Relevant

Category

Name

organisation

number

experience

Mineral Resource

Frans Putter

SACNASP

400052/95

25 years

Ore Reserve

Andre Kruger

PLATO

PMS0114

31 years

Great Noligwa – underground (metric)

Tonnes above
cut-off (millions)

0.00

Cut-off grade (g/t)

25.00

Average grade
above cut-off (g/t)

Tonnes above cut-off

Ave grade above cut-off

15.00

5.00

10.00

10.0

15.0

20.0

25.0

30.0

0.0

20.0

16.0

8.0

4.0

12.0

20.00

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Southern Africa – South Africa – Kopanang

South Africa – Kopanang

Location

Kopanang mine is located in the Free State province; roughly 170km south-west of Johannesburg and approximately 10km

south-east of the town of Orkney on the farms Pretoriuskraal 53 and Grootdraai 468. The mine has been in production since

1984 and was originally known as Vaal Reef’s 9 Shaft. Kopanang’s current mine lease incorporates an area of 35km

, directly

west of neighbouring Great Noligwa mine and bound to the south by the Jersey Fault. Dolomites of the Transvaal Supergroup

outcrop on surface resulting in a very subdued topography with very few rock exposures.

Geology

Gold- and uranium-bearing conglomerates of the Central Rand Group are exploited, the most important of which is the VR.

Gold is the primary commodity being extracted, with uranium oxide as a by-product. The economic VR and Crystalkop

conglomerates are exposed via a twin-shaft system that reaches a depth of 2,340m. The VR is exploited at depths of between

1,300 and 2,600m below surface. Kopanang almost exclusively exploits the VR, although minor amounts of gold are also

extracted from the C Reef, which is stratigraphically located about 250m above the VR.

The VR is a medium- to high-grade reef consisting of a basal conglomerate called the Stilfontein Reef, occasionally overlying

remnant Grootdraai conglomerate units, with an overlying Upper Vaal unit. Current terminology separates the reef into A, B

and C Facies, where the C Facies is the basal Stilfontein and/or Grootdraai conglomerates.

The overlying Upper Vaal or “A Facies” is split into three distinct sub facies; the VR A Bottom, Middle and Top, which consist

of a series of small pebble conglomerates and grits containing very little gold. Further to the east at Great Noligwa, the

A Facies becomes more robust and better developed and attains high gold values.

The B Facies is simply a fine-grained, cross bedded, light grey, black speckled orthoquartzite that separates the A and

C Facies.

The basal C Facies conglomerate of the VR is the main gold carrier on Kopanang. It varies very little in thickness, with a

thickness of 7 to 10cm being typical. The conglomerate comprises mostly quartz (92-98%) and chert (2-8%), with occasional

porphyry clasts (<2%). The matrix is generally very pyritic and the base is non-channelised, often containing a well-developed

carbon seam.

The C Reef contains two economic conglomerates, although the lower-most conglomerate is only preserved as small

remnants. Gold concentrations are typically associated with a basal carbon seam. The C Reef sub-crops in the north against

the Gold Estates Conglomerates Formation. To the south of this unconformity, the reef can be eliminated by either the

Kimberley erosion channels or bedding parallel faulting.

The VR and C Reef generally dip towards the south-east at between 10° and 30°.

Kopanang is situated in a structurally complicated area of the Witwatersrand Basin, which has been subjected to numerous

tectonic events. The complexity of the faulting at Kopanang became evident during initial surface diamond borehole drilling.

Prior to 1970, 12 surface boreholes had been drilled on the farm Pretoriuskraal 53 and only five of these intersected the VR,

the rest had been faulted out. Approximately 20% of the ground in the mine lease area has been eliminated due to

the presence of faulting. At least nine structural events, of differing ages, are thought to effect the reef at Kopanang.

The interaction of these structures can be very complicated as the relationship of different aged structures is made more

difficult by many of these faults having been reactivated at latter stages, or been active over long periods of time. This tectonic

time frame ranges from late Archaean to Cretaceous and therefore involves some 2.7 billion years of structural deformation.

Exploration

The exploration at Kopanang is focused around target blocks that will be explored from underground drilling. The VR target

blocks are situated in the shaft fault area and the ground below 68 level. Additional to this ground, the western portion of the

mine lease (Gencor 1E area) forms a potential mineable area and will be explored by a combination of exploration drilling and

development. An extensive C Reef exploration programme started during 2009 and will continue in 2010.

Southern Africa – South Africa – Kopanang

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Mineral Resource (attributable)

as at 31 December 2009

Contained

Tonnes

Grade

gold

Kopanang

Category

million

g/t

tonnes

Moz

Crystalkop

Reef

Measured

0.07

12.23 0.86 0.03

Indicated

0.35

12.81 4.43 0.14

Inferred 0.98

14.89

14.60

0.47

Total

1.40 14.24 19.89 0.64

Vaal Reef Base

Measured

3.59

16.39

58.83

1.89

Indicated 16.74

11.71

196.04

6.30

Inferred

0.90 12.54 11.34 0.36

Total 21.23

12.54

266.21

8.56

Vaal Reef EDOM

Measured

0.19

15.96

3.08

0.10

Indicated

1.36

14.16

19.23

0.62

Inferred

0.29

13.03

3.75

0.12

Total

1.84

14.18

26.06

0.84

Kopanang

Total

24.47

12.76

312.16

10.04

Exclusive Mineral Resource

as at 31 December 2009

Contained

Tonnes

Grade

gold

Kopanang

Category

million

g/t

tonnes

Moz

Measured

3.15

16.80

52.97

1.70

Indicated

6.43

12.09

77.76

2.50

Inferred

1.90

14.05

26.65

0.86

Kopanang Total

11.48

13.71

157.38

5.06

Exclusive Mineral Resource

Approximately 46% of the exclusive Mineral Resource is expected to be taken up in safety and remnant pillars, areas beyond

window of opportunity, areas beyond infrastructure and due to design and schedule losses.

Legend

0
Chuniespoort
Ventersdorp
Klerksdorp/Mondeor
G.E.CKimberley channels
MBA

MB1
MB2/3
Vaal Reef
MB5/6
MB7/10

44 level
47 level

50 level
53 level
56 level
59 level
62 level

64 level
68 level
70 level
73 level

75 level

PK1

PK2

PK6 PK9

PK4 MZ2

MA1

Popeye II

Shaft flat fault

Shaft steep fault

Shaft flat fault

Popeye III

BW fault

Pillar fault

PK17 Zuiping

Diagonal dyke

Zuiping A fault

Jersey fault

PK17

fault

Shaft flat fault

Buf

fer dyke

MZ2 fault

800

Geological section of Kopanang mine

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Ore Reserve

as at 31 December 2009

Contained

Tonnes

Grade

gold

Kopanang

Category

million

g/t

tonnes

Moz

Crystalkop Reef

Proved

0.00

5.70

0.01

0.00

Probable

0.00

5.70

0.02

0.00

Total

0.01

5.70

0.04

0.00

Vaal Reef Base

Proved

0.87

6.96

6.02

0.19

Probable

15.23

5.61

85.50

2.75

Total

16.10

5.69

91.52

2.94

Vaal Reef EDOM

Proved

0.13

6.27

0.83

0.03

Probable

2.02

5.86

11.81

0.38

Total

2.15

5.88

12.64

0.41

Kopanang

Total

18.25

5.71

104.20

3.35

Competent persons

Professional

Registration

Relevant

Category

Name

organisation

number

experience

Mineral Resource

Leanne Brenda Freese

GSSA

966602

13 years

Ore Reserve

Andre Johnson

SACNASP

400011/06

20 years

Kopanang: Mineral Resource reconciliation

2008 vs 2009

Ounces (millions)

9.49

2008

-0.63

Depletion

0.08
Gold

price

1.10

Exploration

0.00

Metho-

dology

10.04

2009

0.00
Cost

8.0

0.00

Other

10.0

9.0

Kopanang: Ore Reserve reconciliation

2008 vs 2009

Ounces (millions)

4.00

2008

-0.35

Depletion

-0.30

Model

Change

0.00
New

ounces

from

projects

-0.08

Scope

Change

3.35

2009

0.00

Change in

Economics

2.0

0.08

Other

4.0

3.5

3.0

2.5

Change

Kopanang – underground (metric)

Tonnes above
cut-off (millions)

0.00

Cut-off grade (g/t)

25.00

Average grade
above cut-off (g/t)

Tonnes above cut-off

Ave grade above cut-off

15.00

5.00

10.00

0.0

25.0

20.0

10.0

5.0

15.0

20.00

10.0

15.0

20.0

25.0

30.0

35.0

40.0

Southern Africa – South Africa – Moab Khotsong

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

South Africa – Moab Khotsong

Location

The Moab Project was approved in 1997 to exploit two distinct portions of the Moab lease area, namely the Middle Mine

(85 to 101 level) and the Lower Mine (101 to 118 level). During 2008, the SV4 section of Great Noligwa was incorporated into

Moab Khotsong and this section is now termed the Top Mine.

Geology

The Mineral Resource at Moab Khotsong is structurally complex and highly faulted, with large fault-loss areas. Mining is based

on a scattered mining method with an integrated backfill support system combined with bracket pillars. The raise lines are

spaced 200m apart on the dip of the reef, with 25m-long panels. Backfill is carried to within 4m of the advancing stope faces

and 75% of the total area extracted is likely to be backfilled.

The geological setting of Moab Khotsong is one of crustal extension, bounded in the north-west and south-east by major

south-dipping fault systems with north-dipping Zuiping faults sandwiched between them. The Die Hoek and Buffels East faults

structurally bound the reef blocks of the Moab Middle Mine to the north-west and south-east respectively. The northern

boundary is a Zuiping-type fault. The southern boundary fault of the Moab Middle Mine is currently not defined.

Due to the magnitude of throw across the Die Hoek fault, more than 700m down to the south, geological structures

encountered on the up-thrown side of the fault cannot be projected to the down-thrown side and vice versa. No information

pertaining to the reef blocks being accessed can be gleaned from the mapping of the access development. Only once the

development is through the Die Hoek fault does mapping have any bearing on the reef blocks, and even then a great amount

of exploration drilling is required to accurately delineate these blocks.

The C Reef is preserved in the northern part of the mine where the reef has been intersected by a number of boreholes.

No development or stoping has taken place on the C Reef at Moab Khotsong.

Project Zaaiplaats 2

Project Zaaiplaats 2 (PZ2) is situated at Moab Khotsong in the Vaal River region of AngloGold Ashanti’s South African

operations. Moab Khotsong is the newest mine in the region and the PZ2 project is aimed at optimally extracting the deeper

portion (lower mine) of the VR at Moab Khotsong. The PZ2 project is planned to extend the life of Moab Khotsong another

27 years until the mid-2030s. The project also allows other opportunities (mining and metallurgical) to come to the fore that

would otherwise have been uneconomic.

The Lower Mine orebody will be accessed via twin double-declines angled at 8º, the upper and lower declines, from which

five production levels will originate. These will allow two attacking points into the orebody, as well as providing sufficient

ventilation capacity. One of the lower declines will be a dedicated ore-handling system via a conveyor belt; each of the decline

sets will have a dedicated men and material decline (using chairlifts and a monorail) and the remaining upper decline will carry

the majority of the services into the orebody. Shaft bottom will be 4,027m below datum (3,509m below collar).

Brownfields exploration

Brownfields exploration is currently focused on improving geological confidence and four surface drilling machines, targeting

the Project Zaaiplaats Mineral Resource, were in operation during the year.

Surface drilling continued in the Project Zaaiplaats area (Moab Lower Mine), where the target is the prospective VR. Progress

is behind schedule due to in-hole problems.

Progress in the MZA9 long deflection to the east, intended to raise the confidence of an Inferred block in the north-east portion

of the Zaaiplaats project area and also to confirm the structure between the Middle and Lower mines, was delayed due to

caving problems. MHH2 is scheduled to commence on completion of MZA9.

In the north-west of the main Zaaiplaats block, MMB5 is drilling to test a proposed target block along the Jersey Fault

cut-off. Progress in Deflection 5, currently at a depth of 3,362m, was delayed by caving in the Kimberley Channel. The first

VR intersection is now expected during the first quarter of 2010.

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Progress in MGR8, currently at a depth of 3,070m, was delayed by caving. The first VR intersection is now expected during

during the first quarter of 2010.

The long deflection of MGR6 was advanced to a depth of 2,152m in Ventersdorp lavas. The programme is currently ahead of

schedule and the first VR intersection is now expected in the first quarter of 2010.

Currently four LIB (long inclined boreholes) drilling machines are deployed at Moab Khotsong. The Moab Khotsong LIB drilling

programme can be subdivided into five primary categories:

•

upgrading the confidence in the level 1 structure to optimise the placement of the primary haulage systems;

•

proving up postulated reef blocks;

•

upgrading the confidence of the MKF1 Inferred Mineral Resource blocks of the Middle Mine below 101;

•

confirming the presence of the Project Zaaiplaats early gold block; and

•

confirming the presence of Inferred C Reef Mineral Resource in the Moab Khotsong area and upgrading the postulated

C Reef blue sky blocks to an Inferred Mineral Resource.

Mineral Resource (attributable)

as at 31 December 2009

Contained

Tonnes

Grade

gold

Moab Khotsong

Category

million

g/t

tonnes

Moz

C Reef – Middle Mine area

Measured

–

Indicated

–

Inferred

0.91

9.47

8.63

0.28

Total

0.91

9.47

8.63

0.28

Lower Mine – area A

Measured

–

Indicated

0.15

25.09

3.83

0.12

Inferred

1.00

23.73

23.71

0.76

Total

1.15

23.91

27.54

0.89

Lower Mine – area B

Measured

–

Indicated

2.15

11.86

25.48

0.82

Inferred

0.92

11.95

11.05

0.36

Total

3.07

11.89

36.53

1.17

Lower Mine – area C

Measured

–

Indicated

0.04

12.38

0.44

0.01

Inferred

2.33

13.38

31.14

1.00

Total

2.36

13.36

31.58

1.02

Lower Mine – area PZ2

Measured

–

Indicated

7.96

24.18

192.52

6.19

Inferred

2.75

27.47

75.56

2.43

Total

10.71

25.03

268.08

8.62

VR – GNM shaft pillar

Measured

0.11

16.95

1.83

0.06

Indicated

1.50

16.15

24.16

0.78

Inferred

–

Total

1.60

16.20

25.98

0.84

VR – Middle Mine

Measured

1.46

15.10

22.05

0.71

Indicated

4.76

27.09

128.98

4.15

Inferred

1.75

25.79

45.06

1.45

Total

7.97

24.61

196.09

6.30

VR – Top Mine

Measured

0.71

24.88

17.58

0.57

Indicated

0.79

25.68

20.24

0.65

Inferred

0.33

11.62

3.88

0.12

Total

1.83

22.80

41.69

1.34

Moab Khotsong

Total

29.61

21.48

636.12

20.45

Southern Africa – South Africa – Moab Khotsong

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Exclusive Mineral Resource

as at 31 December 2009

Contained

Tonnes

Grade

gold

Moab Khotsong

Category

million

g/t

tonnes

Moz

Measured

1.11

22.70

25.10

0.81

Indicated

3.83

33.33

127.74

4.11

Inferred

9.99

19.91

199.03

6.40

Moab Khotsong

Total

14.93

23.56

351.88

11.31

Exclusive Mineral Resource

The Exclusive Mineral Resource consists of designed rock engineering bracket pillars, designed dip pillars and the Great

Noligwa shaft pillar on the VR. The major portion (59%) of this Exclusive Mineral Resource is situated in the Lower Mine area,

with minor amounts in the Top Mine (7%), Middle Mine (29%), C Reef (2%) and shaft pillar (4%) areas. The bracket pillars are

designed for safety reasons and will therefore not be mined, whereas the shaft pillars can only be safely extracted at the end

of the mine life.

Mineral Resource below infrastructure

as at 31 December 2009

Contained

Tonnes

Grade

gold

Moab Khotsong

Category

million

g/t

tonnes

Moz

C Reef – Middle Mine

Total

0.91

9.47

8.63

0.28

VR – Top Mine

Total

0.20

14.92

2.97

0.10

VR – Middle Mine

Total

1.37

27.63

37.86

1.22

VR – Bottom Mine

Total

17.30

21.03

363.72

11.69

Moab Khotsong

Total

19.78

20.89

413.19

13.28

Moab Khotsong: Ore Reserve reconciliation

2008 vs 2009

Ounces (millions)

7.32

2008

-0.25

Depletion

0.09

Model

Change

0.00
New

ounces

from

projects

-0.02

Scope

Change

7.14

2009

0.00

Change in

Economics

6.0

0.00

Other

7.0

6.5

Moab Khotsong: Mineral Resource reconciliation

2008 vs 2009

Ounces (millions)

18.24

2008

-0.33

Depletion

0.61
Gold

price

2.23

Exploration

-0.08

Metho-

dology

20.45

2009

-0.01

Cost

16.0

-0.22
Other

22.0

19.0

20.5

17.5

Change

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Ore Reserve

as at 31 December 2009

Contained

Tonnes

Grade

gold

Moab Khotsong

Category

million

g/t

tonnes

Moz

C Reef – Middle Mine

Proved

–

Probable

0.16 1.50

0.23

0.01

Total

0.16

1.50

0.23

0.01

VR – Bottom Mine

Proved

–

Probable

11.84

10.35

122.56

3.94

Total

11.84

10.35

122.56

3.94

VR – Middle Mine

Proved

0.67

10.18

6.77

0.22

Probable

5.86

13.09

76.78

2.47

Total

6.53

12.80

83.55

2.69

VR – Top Mine

Proved

0.50

10.79

5.43

0.17

Probable

0.91

11.22

10.22

0.33

Total

1.41

11.07

15.65

0.50

Moab Khotsong

Total

19.93

11.14

221.99

7.14

Ore Reserve below infrastructure

as at 31 December 2009

Contained

Tonnes

Grade

gold

Moab Khotsong

Category

million

g/t

tonnes

Moz

VR – Bottom Mine

Total

11.84

10.35

122.56

3.94

Competent persons

Professional

Registration

Relevant

Category

Name

organisation

number

experience

Mineral Resource

Terry Adam

GSSA

5532

32 years

Ore Reserve

Johan Wall

PLATO

PMS0164

26 years

Moab Khotsong – underground (metric)

Tonnes above
cut-off (millions)

Cut-off grade (g/t)

Average grade
above cut-off (g/t)

Tonnes above cut-off

Ave grade above cut-off

20.0

22.0

24.0

26.0

28.0

30.0

15.0

29.0

27.0

21.0

19.0

25.0

23.0

17.0

0.00

20.00

4.00

8.00

16.00

12.00

Southern Africa – South Africa – Tau Lekoa

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

South Africa – Tau Lekoa*

Location

Tau Lekoa is located about 8km west of the town of Orkney, at the western extreme of the Klerksdorp goldfields. The mine

exploits the VCR at depths varying between 900 and 1,700m below surface. The VCR, the only reef exploited at Tau Lekoa,

dips towards the west at an average angle of 28°. Tau Lekoa has a twin shaft system and mines to a depth of 1,650m.

Tau Lekoa uses hydropower and has a centralised electro-hydraulic system as its primary source of energy production.

Hydropower has been instrumental in improving labour productivity, which has played a vital role in assisting the mine to

achieve its business objectives.

Geology

The VCR is a gold-bearing quartz pebble conglomerate (up to 5m thick) capping the uppermost angular unconformity of the

Witwatersrand Supergroup. The topography of the VCR depositional area is uneven, and consists of a series of slopes and

horizontal terraces at different elevations. The VCR is deposited over a number of terraces that are separated by slope

material. Typically the terrace reef is a thicker, more robust conglomerate unit than the slope material, where hangingwall-

footwall conditions may occur. The deepest terraces are the youngest, whereas the oldest terrace occupies a topographical

horizon 28m above the youngest terrace. Generally the younger the terrace, the more mature the channel fill. The main

channel is the youngest, most mature VCR facies at Tau Lekoa, and extends from the north-east into Tau Lekoa, before

turning sharply towards the west. The older middle and upper terraces contain more immature conglomerates with more

erratic gold grades.

The Tau Lekoa orebody is disrupted by a number of dykes and faults. The major faults present tend to be normal, trending

northeast, and are of post-Ventersdorp age. Flats dipping normal and reverse faults of minor throw are also common. The

majority of major faults strike in a north-north-east to south-south-west direction and these include the Schoonspruit and

Nooitgedacht faults, both of which have displacements of over 100m. Low angle flat faulting affects the reef in the northern

and southern parts of the mine. In addition to this, there are also a number of intrusives present, which vary in age from pre-

Ventersdorp through to Karoo in age. These include the east-west striking Pickavance Dyke, which is associated with lateral

movement and the north-north-west to south-south-east striking incompetent running dykes.

Mineral Resource (attributable)

as at 31 December 2009

Contained

Tonnes

Grade

gold

Tau Lekoa

Category

million

g/t

tonnes

Moz

Jonkerskraal

Measured

0.21

13.44

2.86

0.09

Indicated

14.95

3.81

57.00

1.83

Inferred

0.01

1.89

0.02

0.00

Total

15.17

3.95

59.87

1.92

VCR Base

Measured

2.83

5.83

16.48

0.53

Indicated

4.50

5.06

22.76

0.73

Inferred

3.13

6.07

18.97

0.61

Total

10.46

5.57

58.21

1.87

Weltevreden

Measured

–

Indicated

20.59

3.62

74.43

2.39

Inferred

0.03

5.10

0.17

0.01

Total

20.62

3.62

74.60

2.40

Tau Lekoa

Total

46.25

4.17

192.68

6.19

* Tau Lekoa is currently held for sale, and once all conditions for a sale have been met, the asset will be transferred to the buyer. This is expected to take

place during 2010, whereafter AngloGold Ashanti will restate its South African Mineral Resource and Ore Reserve.

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Exclusive Mineral Resource

as at 31 December 2009

Contained

Tonnes

Grade

gold

Tau Lekoa

Category

million

g/t

tonnes

Moz

Measured

3.04

6.36

19.33

0.62

Indicated

40.04

3.85

154.19

4.96

Inferred

3.17

6.05

19.15

0.62

Tau Lekoa

Total

46.25

4.17

192.68

6.19

Tau Lekoa: Ore Reserve reconciliation

2008 vs 2009

Ounces (millions)

0.92

2008

-0.19

Depletion

0.00

Model

Change

0.00
New

ounces

from

projects

0.07

Scope

Change

0.80

2009

0.00

Change in

Economics

0.01

Other

Tau Lekoa: Mineral Resource reconciliation

2008 vs 2009

Ounces (millions)

5.21

2008

-0.19

Depletion

0.90
Gold

price

0.17

Exploration

0.05

Metho-

dology

6.19

2009

-0.04

Cost

4.00

0.00

Other

6.00

5.00

Change

0.00

0.20

0.40

0.60

0.80

1.00

Southern Africa – South Africa – Tau Lekoa

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Ore Reserve

as at 31 December 2009

Contained

Tonnes

Grade

gold

Tau Lekoa

Category

million

g/t

tonnes

Moz

Jonkerskraal Proved

0.06

5.26

0.30

0.01

Probable

3.64

3.67

13.35

0.43

Total

3.70

13.66

0.44

VCR Base

Proved

0.23

3.66

0.86

0.03

Probable

2.42

4.24

10.29

0.33

Total

2.66

4.19

11.15

0.36

Tau Lekoa

Total

6.36

3.90

24.81

0.80

Competent persons

Professional

Registration

Relevant

Category

Name

organisation

number

experience

Mineral Resource

Geo Steyn

SACNASP

400312/05

10 years

Ore Reserve

JC Oberholzer

PLATO

PMS0216

25 years

Tau Lekoa – underground (metric)

Tonnes above
cut-off (millions)

0.00

Cut-off grade (g/t)

14.00

Average grade
above cut-off (g/t)

Tonnes above cut-off

Ave grade above cut-off

2.00

6.00

10.00

8.00

0.0

10.0

20.0

50.0

30.0

40.0

4.00

12.00

4.0

6.0

8.0

10.0

18.0

12.0

14.0

16.0

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Southern Africa – South Africa – Mponeng

South Africa – Mponeng

Location

Mponeng lies on the West Wits Line, close to Carletonville in the province of Gauteng, about 65km south-west of

Johannesburg and forms part of AngloGold Ashanti’s West Wits operations. Mining at Mponeng is conducted at an average

depth between 2,800 to 3,400m below surface. The mine operates two vertical hoisting shafts, a sub-shaft and two service

shafts. The Mponeng lease area is constrained to the north by the TauTona and Savuka mines, and to the south only by

the depth of the orebody, which is open-ended. In 2008, permission was granted to explore the Western Ultra Deep

Levels (WUDLS) portion to the south of the mine, increasing the potential Mineral Resource.

Geology

The VCR is the only reef currently being mined at Mponeng. The VCR comprises of a quartz pebble conglomerate (up to

3m thick) capping the topmost angular unconformity of the Witwatersrand Supergroup. The VCR is overlain by the

Ventersdorp Lavas which dramatically halted further reef development at that time. The footwall stratigraphy partially controls

the reef facies type and comprises of a series of argillaceous to proto-quartzites, shales and siltstones from the Central Rand

Group of the Witwatersrand Supergroup. The erosional nature of the deposition of the VCR means that the VCR is deposited

on these different Witwatersrand footwalls. The age of the footwall Witwatersrand rocks increases from west to east. Most of

the VCR mined lies on footwall strata of the Kimberley Formation, which is relatively argillaceous proto quartzite. The VCR is

dominated by a series of channel terraces at different elevations, separated by slopes where the reef channel widths are lower

and the angular unconformity between the footwall is larger than on reef terrace planes. More durable quartzites of the Elsburg

Formation lie to the west, while the eastern side of the mine is dominated shales and siltsones of the Booysens Formation.

The hardness of the footwall units influences the development of the terraces.

Southern Africa – South Africa – Mponeng

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Mponeng is also planning to mine the CLR. The CLR at Mponeng is on average a 20cm thick, tabular, auriferous quartz pebble

conglomerate formed near the base of the Central Rand Group. The CLR is on average 900m deeper than the VCR. Major

exploration drilling started in early 2008 in order to improve Mineral Resource confidence and confirm the geological structures

that occur at the deep levels at which mining is planned. Of the three economic units that exist within the CLR, the Mponeng

CLR target area is dominated by unit 3 with a smaller portion of unit 2 towards the east. Unit 2 is a complex channel deposit,

and unit 3 is the oldest of the CLR channel deposits sitting at the base of the package.

Both orebodies are influenced by faulting as well as a series of intrusives of various ages that cross-cut the reefs. At these

depths there is a large amount of inherent risk in mining through these structural features. The Geoscience department’s primary

role is to identify these features ahead of the face so that the correct mining approach can be applied to minimise the risk.

CLR Project

Two economically viable reefs are mined in the West Wits area, the shallower VCR and the deeper CLR. Both have been

extensively mined at AngloGold Ashanti’s TauTona and Savuka operations, while Mponeng has only mined the VCR. Both

reefs can be accessed down to 120 level (3,645m below datum), but there is currently no infrastructure in place that can

service stoping operations below 120 level.

The high-grade CLR below 120 level has remained inaccessible and this represents a significant opportunity for Mponeng and

for AngloGold Ashanti. A series of exploration holes collared underground have drilled sub-vertical holes from current VCR

development towards the CLR to improve the confidence in the orebody. Information gained has been used to confirm the

geological structures at depth that may affect a proposed new shaft system as well as generate more confidence in the current

mineralisation and estimation models.

A project team has been set up to design a “new mine” to access the CLR via tertiary shafts from Mponeng, enabling the

mine to extend its life, while maintaining production at current levels. The mine has been designed according to the sequential

grid mining method, a technique developed at Elandsrand and Mponeng in the 1990s. This method involves pre-developing

stoping grids and extracting the reef between the dip-stabilising pillars. This method has proved successful in the

management of seismicity, both in reducing seismic energy and increasing mining flexibility. The shafts and infrastructure have

been designed to fit the existing shaft system at Mponeng, and have the capacity to sustain high levels of production.

The extension of Mponeng via the CLR project provides a strong base from which several regional benefits can be realised,

as well as enabling other smaller projects to be brought in to match the extended life of the asset and region. The approval

of a CLR project will compliment further exploration and development of the WUDLS mine plan.

The CLR in the deeper portion of the orebody (below 126 level) and the VCR in the north of the mine lease are also potentially

mineable areas.

During the year, surface drilling commenced in the WUDLS extension to the Mponeng mining rights area. Drillhole UD51 was

re-opened for deepening to test the VCR. By year end the drillhole had reached a depth of 2,692m.

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Mineral Resource (attributable)

as at 31 December 2009

Contained

Tonnes

Grade

gold

Mponeng

Category

million

g/t

tonnes

Moz

CLR below 120 level

Measured

–

Indicated

29.57

16.27

480.98

15.46

Inferred

14.87

16.05

238.67

7.67

Total

44.43

16.20

719.66

23.14

Mponeng WUDLS

Measured

–

Indicated

–

Inferred

4.38

12.39

54.22

1.74

Total

4.38

12.39

54.22

1.74

TauTona VCR shaft pillar

Measured

0.23

17.41

3.98

0.13

Indicated

1.19

18.35

21.88

0.70

Inferred

–

Total

1.42

18.20

25.86

0.83

TauTona CLR shaft pillar

Measured

0.28

42.94

12.03

0.39

Indicated

1.31

46.24

60.58

1.95

Inferred

–

Total

1.59

45.66

72.61

2.33

VCR 109 to 120 level

Measured

3.01

20.08

60.40

1.94

Indicated

7.37

15.51

114.38

3.68

Inferred

–

Total

10.38

16.84

174.78

5.62

VCR above 109 level

Measured

7.26

10.90

79.20

2.55

Indicated

7.30

8.21

59.90

1.93

Inferred

–

Total

14.56

9.55

139.10

4.47

VCR below 120 level

Measured

0.09

22.65

2.02

0.07

Indicated

8.92

16.84

150.13

4.83

Inferred

–

Total

9.01

16.90

152.15

4.89

VCR block 1

Measured

–

Indicated

2.99

5.20

15.56

0.50

Inferred

–

Total

2.99

5.20

15.56

0.50

VCR block 3

Measured

0.08

15.46

1.16

0.04

Indicated

7.70

10.95

84.37

2.71

Inferred

–

Total

7.78

10.99

85.53

2.75

VCR block 5

Measured

0.01

2.59

0.03

0.00

Indicated

5.99

6.03

36.14

1.16

Inferred

–

Total

6.00

6.02

36.16

1.16

VCR outside project areas

Measured

0.04

4.01

0.16

0.01

Indicated

9.85

7.52

74.02

2.38

Inferred

–

Total

9.89

7.50

74.18

2.38

Mponeng

Total

112.44

13.78

1,549.82

49.83

Exclusive Mineral Resource

as at 31 December 2009

Contained

Tonnes

Grade

gold

Mponeng

Category

million

g/t

tonnes

Moz

Measured

8.77

15.70

137.73

4.43

Indicated

40.89

15.59

637.50

20.50

Inferred

3.85

17.33

66.74

2.15

Mponeng

Total

53.51

15.73

841.97

27.07

Exclusive Mineral Resource

It is customary with the current mine design to leave 35 to 50% of the Exclusive Mineral Resource as safety and remnant
pillars ahead of current mining. These pillars and remnants are designed to provide additional stability to the mining faces
during operations. A portion of the TauTona shaft pillar and remaining ore will be mined by Mponeng from the VCR and CLR.

Mineral Resource below infrastructure

as at 31 December 2009

Contained

Tonnes

Grade

gold

Mponeng

Category

million

g/t

tonnes

Moz

VCR below 120 level

Total

9.01

16.90

152.15

4.89

CLR below 120 level

Total

44.43

16.20

719.66

23.14

WUDLS

Total

4.38

12.39

54.22

1.74

Mponeng

Total

57.81

16.02

926.03

29.77

Southern Africa – South Africa – Mponeng

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Ore Reserve

as at 31 December 2009

Contained

Tonnes

Grade

gold

Mponeng

Category

million

g/t

tonnes

Moz

CLR below 120 level

Proved

–

Probable

17.59

12.37

217.63

7.00

Total

17.59

12.37

217.63

7.00

TauTona CLR eastern block

Proved

–

Probable

0.50

8.34

4.14

0.13

Total

0.50

8.34

4.14

0.13

VCR 109 to 120 level

Proved

1.20

10.91

13.13

0.42

Probable

7.11

8.85

62.89

2.02

Total

8.31

9.15

76.01

2.44

VCR above 109 level

Proved

1.00

5.07

0.16

Probable

3.19

4.38

13.98

0.45

Total

4.19

4.54

19.05

0.61

VCR below 120 level

Proved

0.02

9.88

0.20

0.01

Probable

7.41

10.59

78.47

2.52

Total

7.43

10.59

78.67

2.53

Mponeng

Total

38.02

10.40

395.51

12.72

Ore Reserve below infrastructure

as at 31 December 2009

Contained

contained

Tonnes

Grade

gold

Mponeng

Category

million

g/t

tonnes

Moz

VCR below 120 level

Total

7.43

10.59

78.67

2.53

CLR below 120 level

Total

17.59

12.37

217.63

7.00

Mponeng

Total

25.02

11.84

296.30

9.53

Mponeng: Ore Reserve reconciliation

2008 vs 2009

Ounces (millions)

12.99

2008

-0.56

Depletion

-0.47

Model

Change

0.00
New

ounces

from

projects

0.75

Scope

Change

12.72

2009

0.00

Change in

Economics

11.0

0.00

Other

12.0

13.0

Mponeng: Mineral Resource reconciliation

2008 vs 2009

Ounces (millions)

49.43

2008

-0.68

Depletion

0.00
Gold

price

0.18

Exploration

0.00

Metho-

dology

49.83

2009

0.00
Cost

48.0

0.90

Other

50.0

49.0

Change

Southern Africa – South Africa – Mponeng

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Competent persons

Professional

Registration

Relevant

Category

Name

organisation

number

experience

Mineral Resource

Gareth Flitton

GSSA

9647581

7 years

Ore Reserve

Piet Enslin

PLATO

PMS0183

26 years

Mponeng – underground (metric)

Tonnes above
cut-off (millions)

0.00

Cut-off grade (g/t)

25.00

Average grade
above cut-off (g/t)

Tonnes above cut-off

Ave grade above cut-off

5.00

10.00

20.00

10.0

110.0

50.0

90.0

70.0

30.0

15.00

12.0

14.0

16.0

18.0

20.0

34.0

22.0

24.0

26.0

28.0

30.0

32.0

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Southern Africa – South Africa – Savuka

South Africa – Savuka

Location

The Savuka mine is located about 18km south of the town of Carletonville, and forms part of AngloGold Ashanti’s West Wits

operations. The mine exploits the CLR at depths varying between 2,600 and 3,500m below surface as well as the VCR in

smaller proportions. The VCR, which is on average about 700m above the CLR has nearly been mined out. Currently

operations are attempting to extract remnant pillars that are above the current pay limit.

Savuka has converted into a sequential grid mine. CLR and VCR panels are mined accordingly.

Geology

The CLR is a thin, on average 20cm thick, tabular, auriferous quartz pebble conglomerate formed near the base of the Central

Rand Group. The CLR has been divided into three stratigraphic units. Economically the most important is unit 1 which is

present as a sheet-like deposit over the whole mine. Unit 2 is a complex channel deposit that is presently only being mined

along the south and west at Savuka. The reef may be over 2m thick where unit 2 is developed. Unit 3 is preserved below unit 1

in the southern parts of Savuka and is the oldest of the CLR conglomerates. The CLR has not been mined since 22 May 2009

due to a seismic event that left the lower levels inaccessible through the main shaft system. Production has since been

focused on extracting pillars of VCR.

The VCR comprises a quartz pebble conglomerate (up to 5m thick) capping the topmost angular unconformity of the

Witwatersrand Supergroup. The topography of the VCR depositional area is uneven, and consists of a series of slopes and

horizontal terraces at different elevations. The base of the Ventersdorp Lava strikes in a direction across the north-western

part of the lease area.

The orebody is cross cut by geological features that displace the reef horizon. The faulting, in conjunction with the numerous

intrusives that also intersect the orebody on the various levels, is responsible for most of the risk inherent with this type of

deep-level gold mining. There is also a high level of seismicity associated with these features.

Exploration

The Middelvlei Reef is another Witwatersrand auriferous placer mined in the West Wits. It is located approximately 90m above

the CLR stratigraphically. This reef comprises interbeds of quartz-pebble conglomerates, quartz wackes and thin siltstones.

The channel thickness varies up to a thickness of 1.6m, and the Middelvlei Reef is highly channelled with gold pay chutes

most likely occurring at the base of the channels. These trends are similar in direction to the palaeo-current directions of the

underlying footwall sequence. Middelvlei Reef has been mined at Blyvooruitzicht mine to the north of Savuka as well as at

Gold Fields’ Driefontein gold mine, but not at Savuka.

Exploration for these channels will be done by drilling from diamond drilling platforms developed at the end of each cross cut

at the CLR intersection. The series of exploration holes hopes to delineate the existence of a high-grade channel.

Three exploration LIB holes are planned to be drilled from 113 level towards the west. The targets will gain much needed

geological information on CLR to improve the geological confidence in the mine plan in that area. The holes will also be

extended to Middelvlei Reef.

Southern Africa – South Africa – Savuka

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Mineral Resource (attributable)

as at 31 December 2009

Contained

Tonnes

Grade

gold

Savuka

Category

million

g/t

tonnes

Moz

Carbon Leader Reef

Measured

0.58

14.40

8.42

0.27

Indicated

6.01

17.16

103.10

3.31

Inferred

–

Total

6.59

16.92

111.52

3.59

Ventersdorp Contact Reef

Measured

0.39

6.24

2.41

0.08

Indicated

0.35

15.99

5.60

0.18

Inferred

–

Total

0.74

10.88

8.00

0.26

Savuka

Total

7.33

16.31

119.52

3.84

Exclusive Mineral Resource

as at 31 December 2009

Contained

Tonnes

Grade

gold

Savuka

Category

million

g/t

tonnes

Moz

Measured

0.88

10.81

9.52

0.31

Indicated

0.48

74.88

36.18

1.16

Inferred

–

Savuka

Total

1.36

33.50

45.70

1.47

Ore Reserve

as at 31 December 2009

Contained

Tonnes

Grade

gold

Savuka

Category

million

g/t

tonnes

Moz

Carbon Leader Reef

Proved

0.07

6.50

0.47

0.01

Probable

3.14

6.30

19.78

0.64

Total

3.21

6.30

20.25

0.65

Ventersdorp Contact Reef

Proved

0.05

3.73

0.19

0.01

Probable

0.21

4.70

0.97

0.03

Total

0.26

4.51

1.16

0.04

Savuka

Total

3.47

6.17

21.40

0.69

Savuka: Ore Reserve reconciliation

2008 vs 2009

Ounces (millions)

0.76

2008

-0.03

Depletion

0.02

Model

Change

0.00
New

ounces

from

projects

-0.07

Scope

Change

0.69

2009

0.00

Change in

Economics

0.00

Other

0.50

0.75

0.25

Savuka: Mineral Resource reconciliation

2008 vs 2009

Ounces (millions)

4.37

2008

-0.06

Depletion

0.00
Gold

price

-0.21

Exploration

0.00

Metho-

dology

3.84

2009

-0.26

Cost

3.00

0.00

Other

4.50

3.50

4.00

Change

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Competent persons

Professional

Registration

Relevant

Category

Name

organisation

number

experience

Mineral Resource

Gareth Flitton

GSSA

9647581

7 years

Ore Reserve

Piet Enslin

PLATO

PMS0183

26 years

Savuka – underground (metric)

Tonnes above
cut-off (millions)

0.00

Cut-off grade (g/t)

25.00

Average grade
above cut-off (g/t)

Tonnes above cut-off

Ave grade above cut-off

5.00

10.00

16.0

18.0

20.0

20.00

22.0

32.0

15.00

24.0

26.0

28.0

1.0

7.0

3.0

6.0

5.0

2.0

8.0

4.0

30.0

Southern Africa – South Africa – TauTona

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

South Africa – TauTona

Location

TauTona lies on the West Wits Line, just south of Carletonville in the North West Province, about 70km south-west of

Johannesburg. Mining at TauTona takes place at depths ranging from 2,000 to 3,640m. The mine has a three-shaft system

and is in the process of converting from longwall mining to scattered grid mining.

Geology

The CLR is a thin, on average 20cm thick, tabular, auriferous quartz pebble conglomerate formed near the base of the Central

Rand Group. The CLR has been divided into three facies units. Economically the most important is unit 1, which is present

as a sheet-like deposit over the whole mine, although reef development and grades tend to drop off very rapidly where unit 1

overlies unit 2. Unit 2 is a complex channel deposit that is only present along the eastern-most limit of current mining at

TauTona. The unit 2 CLR may be over 2m thick. Unit 3 is preserved below unit 1 in the southern parts of TauTona and is the

oldest of the CLR conglomerates.

Production levels on the VCR at TauTona are currently limited, contributing an average of 10% of total production volumes.

The VCR comprises a quartz pebble conglomerate (up to 2m thick) capping the top-most angular unconformity of the

Witwatersrand Supergroup. The topography of the VCR depositional area is uneven, and consists of a series of slopes and

horizontal terraces at different elevations.

The Exclusive Mineral Resource is dependant on mining strategy, but approximately 3.0Moz or 92% of the Exclusive Mineral

Resource is expected to be taken up in safety and remnant pillars ahead of current mining.

Exploration

Three projects will continue at TauTona during 2010; the CLR below 120 area, the area east of the Bank Dyke and the area

east of the mine. The aim is to increase the structural confidence and updating the facies model within these areas.

West

East

No. 1 CL

Green Bar

Laminated Base

No. 3 CL

spc ma

ker

North Leader

No.1 Unconformity

Square Pebble

Rice Pebble

Typical maximum thickness: 2,4m

Scale (except

for CL – NL)

Driefontein

TauTona

No. 1 CL

No. 3 CL

+/- 5,5m

No.2 CL

No.2B CL

No.2A CL

PPQ

Schematic east – west section, looking north,

showing the different CL facies

(numbered 3, 2A, 2B, 2C, 1)

3.5km

TauTona schematic east-west section

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Mineral Resource (attributable)

as at 31 December 2009

Contained

Tonnes

Grade

gold

TauTona

Category

million

g/t

tonnes

Moz

CLR – 1C11

Measured

0.06

28.05

1.78

0.06

Indicated

0.49

30.58

14.91

0.48

Inferred

–

Total

0.55

30.29

16.69

0.54

CLR base

Measured

0.81

23.41

18.96

0.61

Indicated

4.37

20.96

91.66

2.95

Inferred

–

Total

5.18

21.34

110.62

3.56

CLR below 120

Measured

0.02

28.99

0.52

0.02

Indicated

0.53

28.15

15.00

0.48

Inferred

–

Total

0.55

28.18

15.53

0.50

3km

Legend

Areas of facies dominance

No. 1 CLR

Overlap of No. 1 CLR over No. 2 CL facies

No. 2 CL facies

No. 3 CL facies

CL erosion channels

Shafts

Suboutcrops

Suboutcrop of NL vs No.1 CL uncomformity

Suboutcrop of F/W Spc Mkr vs No.1 CL uncomformity

Suboutcrop No.2 CL vs No.1 CL uncomformity

Driefontein

Blyvooruitzicht

Doornfontein

Deelkraal

Elandsrand

Western Ultra

Deep Levels

TauTona

Savuka

Mponeng

1A Subvertical

CL eliminated by
Master Bedding Fault

Doornfontein
erosion channel

Western Driefontein
erosion channel

CLR facies map

Southern Africa – South Africa – TauTona

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Mineral Resource (attributable) cont.

as at 31 December 2009

Contained

Tonnes

Grade

gold

TauTona

Category

million

g/t

tonnes

Moz

EOB between 100 & 112 levels

Measured

0.19

26.06

4.98

0.16

Indicated

1.78

20.64

36.75

1.18

Inferred

–

Total

1.97

21.16

41.74

1.34

VCR shaft pillar

Measured

0.21

21.63

4.58

0.15

Indicated

0.19

19.18

3.57

0.11

Inferred

–

Total

0.40

20.48

8.15

0.26

TauTona

Total

8.65

22.27

192.72

6.20

Exclusive Mineral Resource

as at 31 December 2009

Contained

Tonnes

Grade

gold

TauTona

Category

million

g/t

tonnes

Moz

Measured

0.95

22.95

21.75

0.70

Indicated

3.20

20.91

66.96

2.15

Inferred

–

TauTona Total

4.15

21.38

88.71

2.85

Mineral Resource below infrastructure

as at 31 December 2009

Contained

Tonnes

Grade

gold

TauTona

Category

million

g/t

tonnes

Moz

CLR below 120

Total

0.40

28.88

11.51

0.37

TauTona: Ore Reserve reconciliation

2008 vs 2009

Ounces (millions)

3.08

2008

-0.21

Depletion

-0.11

Model

Change

0.00
New

ounces

from

projects

-0.03

Scope

Change

2.73

2009

0.00

Change in

Economics

2.00

0.00

Other

2.50

3.00

TauTona: Mineral Resource reconciliation

2008 vs 2009

Ounces (millions)

7.14

2008

-0.23

Depletion

0.00
Gold

price

-0.69

Exploration

0.00

Metho-

dology

6.20

2009

-0.01

Cost

5.00

-0.04
Other

7.50

5.50

7.00

6.00

6.50

Change

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Ore Reserve

as at 31 December 2009

Contained

Tonnes

Grade

gold

TauTona

Category

million

g/t

tonnes

Moz

CLR – 1C11

Proved

–

13.61

0.06

–

Probable

0.68

10.67

7.21

0.23

Total

0.68

10.68

7.26

0.23

CLR base

Proved

0.17

6.89

1.15

0.04

Probable

5.44

7.53

41.00

1.32

Total

5.61

7.51

42.15

1.36

CLR below 120

Proved

0.01

11.55

0.15

–

Probable

0.47

14.00

6.55

0.21

Total

0.48

13.93

6.70

0.22

EOB between 100 & 112 levels

Proved

0.11

21.10

2.31

0.07

Probable

1.68

12.90

21.68

0.70

Total

1.79

13.40

23.99

0.77

VCR shaft pillar

Proved

0.04

7.42

0.33

0.01

Probable

0.42

10.76

4.54

0.15

Total

0.47

10.44

4.87

0.16

TauTona

Total

9.03

9.41

84.98

2.73

Ore Reserve below infrastructure

as at 31 December 2009

Contained

Tonnes

Grade

gold

TauTona

Category

million

g/t

tonnes

Moz

CLR below 120

Total

0.48

13.93

6.70

0.22

Competent persons

Professional

Registration

Relevant

Category

Name

organisation

number

experience

Mineral Resource

Katarien Deysel

SACNASP

400093/05

9 years

Ore Reserve

Michael Wayne Armstrong

PLATO

MS0054

25 years

TauTona – underground (metric)

Tonnes above
cut-off (millions)

0.00

Cut-off grade (g/t)

25.00

Average grade
above cut-off (g/t)

Tonnes above cut-off

Ave grade above cut-off

5.00

10.00

15.00

22.0

24.0

26.0

32.0

28.0

30.0

2.0

8.0

5.0

3.0

9.0

4.0

6.0

7.0

20.00

Southern Africa – South Africa – Surface operations

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

South Africa – Surface operations

The Metallurgy Department, as a business unit, produces gold in addition to that derived from the primary reef sources by

treating lower-grade surface sources of gold-bearing material. The strategy is the maximum utilisation of the treatment gap.

The surface source operations comprise the Vaal River and West Wits Surface sources operations.

Location

The Vaal River Surface operations are located immediately to the north and south of the Vaal River, close to the town of

Orkney, North West Province, South Africa. These operations comprise waste rock dumps and tailings dams resulting from

the mining and processing of the VR and VCR which were mined at the Vaal River underground mines in the Klerksdorp area.

The West Wits Surface operations are located on the West Wits Line, near the town of Carletonville, straddling the border

between the North West Province and Gauteng. These operations comprise waste rock dumps and tailings dams sourced

from the mining and processing of CLR and VCR which were mined at the West Wits underground mines in the

Carletonville/Fochville area.

Gold is mainly produced by the reclamation of waste rock dumps and the Sulphur Paydam (SPD).

The waste rock dumps have been built from waste rock mined from underground access development workings and hoisted,

transported and deposited via conveyor belt. The gold contained within these rock dumps was sourced from three areas:

•

minor reefs that were developed in order to access the primary reef;

•

reefs that were contained within small fault blocks that were exposed by off-reef development; and

•

cross-tramming of reef to the waste tips.

The tailings storage facilities store the residue product from the gold plants. These tailings were pumped in a slurry form onto

tailings dams and have been built up over a period of years.

Reclamation methodology

Bulldozers are used to create furrows through the waste rock dumps in order to mix rock from different parts of the waste

rock dumps that were deposited over different time periods. This is done to create a degree of homogenisation. The material

is then loaded onto rail hoppers and transported to the metallurgical plants.

The SPD is being reclaimed by means of remote controlled high-pressure hydraulic monitors. In order to facilitate blending of

low and higher grade material (necessitated by a definite grade gradient that exists from the bottom to the top of the tailings

dam), reclamation takes place in a three-bench, full-face operation. From the reclamation face, the slurry flows via trenches

to the SPD pump station, where oversized material is screened out and then pumped to the East Gold and Acid Flotation

(EGAF) plant for processing.

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Mineral Resource (attributable)

as at 31 December 2009

Contained

Tonnes

Grade

gold

Mine/Project

Category

million

g/t

tonnes

Moz

Vaal River Surface

SA Met – rock dump

Measured

–

Indicated

59.53

0.60

35.73

1.15

Inferred

5.06

0.69

3.48

0.11

Total

64.60

0.61

39.22

1.26

SA Met – tailings dump

Measured

–

Indicated

48.72

0.38

18.64

0.60

Inferred

–

Total

48.72

0.38

18.64

0.60

Vaal River Surface

Total

113.32

0.51

57.86

1.86

West Wits Surface

WWGO – rock dump

Measured

–

Indicated

13.04

0.47

6.08

0.20

Inferred

–

Total

13.04

0.47

6.08

0.20

West Wits Surface

Total

13.04

0.47

6.08

0.20

Surface operations

Total

126.36

0.51

63.94

2.06

Exclusive Mineral Resource

as at 31 December 2009

Contained

Tonnes

Grade

gold

Mine/Project

Category

million

g/t

tonnes

Moz

Measured

–

Indicated

–

Inferred

–

Vaal River Surface

Total

–

Measured

–

Indicated

0.29

1.30

0.38

0.01

Inferred

–

West Wits Surface

Total

0.29

1.30

0.38

0.01

Surface operations

Total

0.29

1.30

0.38

0.01

Vaal River: Surface Mineral Resource reconciliation

2008 vs 2009

Ounces (millions)

5.02

2008

-0.17

Depletion

0.00
Gold

price

0.14

Exploration

0.00

Metho-

dology

1.86

2009

-3.13

Cost

0.00

Other

6.00

2.00

4.00

Vaal River: Surface Ore Reserve reconciliation

2008 vs 2009

Ounces (millions)

1.91

2008

-0.18

Depletion

0.01

Model

Change

0.00
New

ounces

from

projects

-0.00

Scope

Change

1.74

2009

0.00

Change in

Economics

1.00

0.00

Other

1.50

2.00

Change

Southern Africa – South Africa – Surface operations

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Ore Reserve

as at 31 December 2009

Contained

Tonnes

Grade

gold

Vaal River Surface

Category

million

g/t

tonnes

Moz

Vaal River Surface

SA Met – rock dump

Proved

–

Probable

59.53

0.59

35.37

1.14

Total

59.53

0.59

35.37

1.14

SA Met – tailings dump

Proved

–

Probable

48.72

0.38 18.64

0.60

Total

48.72

0.38

18.64

0.60

Vaal River Surface

Total

108.26

0.50

54.02

1.74

West Wits Surface

WWGO – rock dump

Proved

–

Probable

12.75

0.45

5.70

0.18

Total

12.75

0.45

5.70

0.18

WWGO – rock dump

Total

12.75

0.45

5.70

0.18

Surface operations

Total

121.01

0.49

59.72

1.92

Competent persons

Professional

Registration

Relevant

Category

Name

organisation

number

experience

Vaal River Surface

Mineral Resource

Raymond Orton

PLATO

MS0096

23 years

Ore Reserve

Richard Brokken

PLATO

MS0171

28 years

West Wits Surface

Mineral Resource

Raymond Orton

PLATO

MS0096

23 years

Ore Reserve

Richard Brokken

PLATO

MS0171

28 years

West Wits: Surface Ore Reserve reconciliation

2008 vs 2009

Ounces (millions)

0.04

2008

-0.01

Depletion

0.15

Model

Change

0.00
New

ounces

from

projects

-0.00

Scope

Change

0.18

2009

0.00

Change in

Economics

0.00

Other

0.10

0.20

Change

West Wits: Surface Mineral Resource reconciliation

2008 vs 2009

Ounces (millions)

1.37

2008

-0.01

Depletion

0.00
Gold

price

0.01

Exploration

0.00

Metho-

dology

0.20

2009

-1.17

Cost

0.00

Other

1.00

Namibia

Regional overview

Navachab gold mine, AngloGold Ashanti’s sole operation in Namibia, is wholly owned by the Company.

Mineral Resource estimation

Mineral Resource estimation is performed using Datamine

software. Block dimensions of 25m x 25m x 5m are used as the

prototype model. Grade interpolation is done into these blocks using ordinary and ìndicator kriging methods. A geostatistical

technique called uniform conditioning is then used to estimate the proportion of economic ore that occur above the Mineral

Resource cut-off and this is reported according to the selective mining unit (SMU).

Mineral Resource and Ore Reserve gold prices and exchange rate

Units

2009

2008

Gold price – Mineral Resource

US$/oz

1,025

1,000

Gold price – Ore Reserve

US$/oz

800

720

Exchange rate – South Africa

ZAR/US$

8.85

8.67

Details of average drillhole spacing and type in relation to Mineral Resource classification

Type of drilling

Mine/

Spacing

Diamond

Blast-

Other

Comments

Project

Category

m (- x -)

hole

Navachab

Measured

10 x 10

–

Indicated

25 x 25

–

Inferred

50 x 50

–

Grade control 5 x 10 and

–

10 x 10

–

Ore Reserve estimation

MineSight

optimisation software is used to generate optimised pit shells using economic parameters. The final pits are then

designed based on the optimised pit shell, recommended slope geometry and ramp access requirements.

Ore Reserve modifying factors

as at 31 December 2009

Mine call

Metal-

Cut-off

factor

lurgical

weighted

RRF

MRF

(MCF) recovery

Mine

g/t

Comments

Navachab
Anomaly 16

0.50

100

88.01

CIP metallurgical recovery – average for
the mine. DMS recovery average 73.33%.

Gecko

0.50

100

88.01

As above

Grid A

0.50

100

88.01

As above

Main Pit (Anomaly 13)

0.40

100

88.01

As above

Stockpile

0.40

100

88.01

As above

(full grade ore)

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Southern Africa – Namibia

Southern Africa – Namibia – Navachab

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Namibia – Navachab

Location

Navachab gold mine is located 10km south-west of Karibib and 170km west-north-west of Windhoek, the capital of Namibia.

Navachab is mined as an open-pit mine. The current carbon-in-pulp (CIP) plant, with a production capacity of 120,000 tonnes

per month, includes mills, CIP and electro-winning facilities. In future, it is planned that a portion of the CIP feed will come

from a pre-concentration plant (DMS plant) with a 200t/h capacity.

Geology

The Navachab gold deposit is located in the Pan-African Damara Orogen and is hosted by greenschist-amphibolite facies

calc-silicates, marbles and volcanoclastic rocks. The rocks have been intruded by granite, pegmatite and aplitic dykes and

have also been deformed into a series of alternating dome and basin-like structures.

The main mineralisation forms a sheet-like body which plunges at an angle of approximately 20° to the north-west. The

mineralisation is predominantly hosted in a sheeted quartz vein set (±60%) and a replacement skarn (±40%).

The mineralisation in the main pit is hosted by a north-east to south-west striking metamorphosed sequence of calc-silicates,

marbles and volcanoclastic rocks that dip at 70° to the west. The gold is very fine-grained and associated with pyrrhotite and

minor amounts of pyrite, chalcopyrite, arsenopyrite, sphalerite, maldonite and bismuthinite. An estimated 90% of the gold

occurs as free gold and the remainder is present in minerals such as maldonite (Au

Bi). Silver is also present with a gold to

silver ratio of approximately 15 to 1.

Exploration

The exploration strategy at Navachab is to evaluate the shallow north pit 2 mineralisation (located near the main pit) down

plunge to 250m below surface. Drilling during the year has confirmed the down plunge extension of this ore shoot with

intersection ranging from 1.5 to 2.5g/t over 15 to 20m. This near surface mineralisation assists in unlocking deeper

hangingwall and footwall mineralisation for further exploitation to 350m below surface. Drilling during the next five years will

focus on growing the Mineral Resource base by 2Moz and increasing the confidence level of the mineralisation at Navachab.

Exploration of the satellite deposits will continue to identify near-surface, high-grade “Grid A” type mineralisation to displace

low-grade ounces during stripping of the main orebody extensions. Current satellite target areas are Anomaly 16, Gecko,

Steenbok, Starling and Klipspringer.

Projects

Exploration of the Gecko target has produced a shallow, high-grade Mineral Resource of 0.05Moz. This mineralisation can be

used to supplement the low production years. Exploration of Anomaly 16 target, which is approximately 7km from the plant,

has produced a lower-grade Mineral Resource of approximately 0.135Moz with the potential to grow significantly.

West

East

Karibib FM

Oberwasser FM

Oxide

(MDMV)

Okawayo FM

MC
Zone

LSC

Etusis FM

Chuos FM

Oxide

Calcrete

Spes Bona FM

35m

An east-west section through the Navachab Main Pit

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Mineral Resource (attributable)

as at 31 December 2009

Contained

Tonnes

Grade

gold

Navachab

Category

million

g/t

tonnes

Moz

Anomaly 16

Measured

–

Indicated

1.96

1.20

2.36

0.08

Inferred

1.52

1.21

1.84

0.06

Total

3.48

1.21

4.20

0.14

Gecko

Measured

–

Indicated

0.57

1.60

0.90

0.03

Inferred

0.32

1.42

0.45

0.01

Total

0.88

1.53

1.35

0.04

Grid A

Measured

0.08

2.16

0.18

0.01

Indicated

0.16

1.65

0.26

0.01

Inferred

0.01

1.01

0.01

0.00

Total

0.25

1.78

0.45

0.01

Main pit (anomaly 13)

Measured

3.87

1.19

4.60

0.15

Indicated

64.15

1.23

79.04

2.54

Inferred

16.68

1.06

17.61

0.57

Total

84.70

1.20

101.25

3.26

Stockpile (full grade ore)

Measured

6.87

0.77

5.28

0.17

Indicated

–

Inferred

–

Total

6.87

0.77

5.28

0.17

Stockpile (marginal ore)

Measured

6.41

0.53

3.41

0.11

Indicated

–

Inferred

–

Total

6.41

0.53

3.41

0.11

Navachab

Total

102.60

1.13

115.95

3.73

Exclusive Mineral Resource

as at 31 December 2009

Contained

Tonnes

Grade

gold

Navachab

Category

million

g/t

tonnes

Moz

Measured

7.39

0.59

4.34

0.14

Indicated

34.43

1.19

40.99

1.32

Inferred

18.53

1.07

19.92

0.64

Navachab

Total 60.35

1.08

65.24

2.10

Exclusive Mineral Resource

The main pit contains the largest portion (1.88Moz) of the Exclusive Mineral Resource. Of this, approximate 0.75Moz are in a

conceptual pit plan and further optimisation is continuing to bring this Exclusive Mineral Resource to account. Approximately

0.11Moz of the Exclusive Mineral Resource are hosted in the marginal ore stockpiles at a grade of 0.53g/t and the intention

is to test this for economic viability through pre-concentration during 2010.

The remainder of the Exclusive Mineral Resource is from Anomaly 16 (0.079Moz), Gecko (0.03Moz) and Grid A (0.002Moz).

Southern Africa – Namibia – Navachab

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Ore Reserve

as at 31 December 2009

Contained

Tonnes

Grade

gold

Navachab

Category

million

g/t

tonnes

Moz

Anomaly 16

Proved

–

Probable

1.13

1.55

1.75

0.06

Total

1.13

1.55

1.75

0.06

Gecko

Proved

–

Probable

0.22

1.76

0.39

0.01

Total

0.22

1.76

0.39

0.01

Grid A

Proved

0.08

2.08

0.16

0.01

Probable

0.14

1.71

0.24

0.01

Total

0.22

1.84

0.40

0.01

Main pit (anomaly 13)

Proved

2.90

1.27

3.68

0.12

Probable

30.92

1.26

39.05

1.26

Total

33.82

1.26

42.73

1.37

Stockpile (full grade ore)

Proved

6.87

0.77

5.28

0.17

Probable

–

Total

6.87

0.77

5.28

0.17

Navachab

Total

42.25

1.20

50.55

1.63

Inferred Mineral Resource in business plan

The Inferred Mineral Resource was used in the pit optimisation process and 0.10Moz are present in the designed pits and a

further 0.16Moz are included in future conceptual designed pits.

Navachab: Ore Reserve reconciliation

2008 vs 2009

Ounces (millions)

1.34

2008

-0.08

Depletion

0.21

Model

Change

0.00
New

ounces

from

projects

0.16

Scope

Change

1.63

2009

0.00

Change in

Economics

1.00

0.00

Other

1.50

Navachab: Mineral Resource reconciliation

2008 vs 2009

Ounces (millions)

4.33

2008

-0.25

Depletion

0.09
Gold

price

0.34

Exploration

0.01

Metho-

dology

3.73

2009

-0.40

Cost

3.00

-0.38
Other

3.50

4.50

4.00

Change

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Competent persons

Professional

Registration

Relevant

Category

Name

organisation

number

experience

Mineral Resource

Frederik Badenhorst

AusIMM

211026

18 years

Ore Reserve

George Botshiwe

AusIMM

229475

9 years

Navachab – surface (metric)

Tonnes above
cut-off (millions)

0.00

Cut-off grade (g/t)

5.00

Average grade
above cut-off (g/t)

Tonnes above cut-off

Ave grade above cut-off

1.00

2.00

4.00

3.00

0.0

1.0

2.0

3.0

7.0

4.0

5.0

6.0

0.0

250.0

100.0

200.0

150.0

50.0

300.0

Operations

Advanced projects

New exploration

Ghana

Iduapriem

Mineral Resource

4.60Moz

Ore Reserve

2.40Moz

Obuasi

Mineral Resource

29.53Moz

Ore Reserve

9.65Moz

Tanzania

Geita

Mineral Resource

11.45Moz

Ore Reserve

5.07Moz

Saudi
Arabia

Egypt

Gabon

Guinea

Siguiri (85%)

Mineral Resource

6.59Moz

Ore Reserve

3.07Moz

Mali

Morila (40%)

Mineral Resource

0.33Moz

Ore Reserve

0.32Moz

Sadiola (41%)

Mineral Resource

3.76Moz

Ore Reserve

1.46Moz

Yatela (40%)

Mineral Resource

0.14Moz

Ore Reserve

0.04Moz

DRC

Kibali (effective 45%)

Mineral Resource

8.89Moz

Ore Reserve

4.14Moz

Mongbwalu (86.2%)

Mineral Resource

2.10Moz

Continental Africa

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Continental Africa

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Regional overview

AngloGold Ashanti has seven mining operations in its Continental Africa region:

•

Iduapriem and Obuasi in Ghana

•

Siguiri in Guinea

•

Morila, Sadiola and Yatela in Mali

•

Geita in Tanzania

Combined production from these operations declined by 3% to 1.52Moz of gold in 2009, equivalent to 33% of group
production. In addition, AngloGold Ashanti has an active greenfields exploration programme in the Democratic Republic of the
Congo (DRC), with Mongbwalu currently undergoing a pre-feasibility study, whilst the Kibali joint venture with Randgold
Resources and the DRC government is in the process of optimising the feasibility study. This is in addition to the brownfields
exploration being conducted in and around its existing operations.

The Mineral Resource in Continental Africa, attributable to AngloGold Ashanti, totalled 67.38Moz at year-end, including an
attributable Ore Reserve of 26.14Moz.

Mineral Resource by region (attributable)

Contained

Tonnes

Grade

gold

as at 31 December 2009

Category

million

g/t

tonnes

Moz

Continental Africa

Measured

135.14

3.34

451.36

14.51

Indicated

386.64

2.47

956.19

30.74

Inferred

242.39

2.84

688.23

22.13

Total

764.17

2.74

2,095.78

67.38

Ore Reserve by region (attributable)

Contained

Tonnes

Grade

gold

as at 31 December 2009

Category

million

g/t

tonnes

Moz

Continental Africa

Proved

80.36

2.16

173.28

5.57

Probable

234.20

2.73

639.84

20.57

Total

314.56

2.58

813.12

26.14

Continental Africa – DRC

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Democratic Republic of the Congo (DRC)

Regional overview

AngloGold Ashanti has two advanced projects in the DRC, Kibali and Mongbwalu.

Kibali

On 15 October 2009 Randgold acquired a 50% indirect interest in Moto Goldmines Ltd through a joint venture with AngloGold
Ashanti. On 21 December 2009, Randgold and AngloGold increased their joint venture interest to 90%, whilst OKIMO retained
a 10% holding.

The project is a joint development between three separate groups:

•

AngloGold Ashanti;

•

Randgold Resources Limited, who is the operator, an African-focused gold mining and exploration business with primary
listings on the London Stock Exchange and Nasdaq; and

•

L’Office des Mines d'Or de Kilo-Moto (OKIMO), the state-owned company.

The consolidated lease is made up of 10 mining concessions.

Mongbwalu

The Mongbwalu Project is one of AngloGold Ashanti’s most important exploration projects and is situated within the
10,000km

covered by Concession 40 in the Ituri Province of north-eastern DRC. Concession 40 has a rich history of gold

occurrences and cover the entire Kilo Archaean granite-greenstone belt that extends approximately 850km west-northwest
of Lake Albert. The concession is held in a joint venture between AngloGold Ashanti Kilo (AGAK) and OKIMO, a governmental
body which currently holds a 13.8% non-contributory share. AGAK is 86.2% owned by AngloGold Ashanti Limited.

The area around the old Adidi mine will undergo a feasibility study as part of the agreement with the DRC government.

Mineral Resource and Ore Reserve gold prices and exchange rates

Units

2009

2008

Gold price – Mineral Resource

US$/oz

1,000/1,025*

1,000

Gold price – Ore Reserve

US$/oz

700

720

* Kibali uses $1,000/oz and Mongbwalu uses $1,025/oz

Details of average drillhole spacing and type in relation to Mineral Resource classification

Type of drilling

Mine/

Spacing

Diamond

Blast-

Other

Comments

Project

Category

m (- x -)

hole

Kibali

Measured

–

Indicated

40 x 40

–

Inferred

40 x 80, 80 x 80

–

Grade control –

–

Mongbwalu

Measured

–

Indicated

–

Inferred

50 x 50

–

Grade control –

–

Ore Reserve modifying factors

as at 31 December 2009

Mine call

Metal-

Cut-off

Stoping

factor

lurgical

weighted

width

Dilution

RRF

MRF

(MCF) recovery

Mine

g/t

Kibali
Surface

0.89

n/a

84.5

Underground

2.30

1,700

7.7

2.50

74.1

99.9

n/a

91.3

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Continental Africa – DRC – Kibali

DRC – Kibali

Location

The Kibali gold project is located in the north-eastern part of the DRC near the international borders with Uganda and Sudan.

The 1,841km

project area is centrally located around the village of Doko, approximately 180km by road from Arua on the

Ugandan border and immediately north of the town of Watsa. The district capital of Watsa lies about 9km to the south of the

project, which is situated just north of the Kibali River on the road to Faradje and the Sudan. The town of Bunia, which is the

United Nations controlled entry point to north-eastern DRC, lies about 200km to the south of the project.

Geology

The project is located within the Moto greenstone belt, which is comprised of the Archaean Kibalian volcano-sedimentary

rocks and ironstone-chert horizons that have been metamorphosed to greenschist facies. It is cut by regional-scale north,

east, north-east and north-west trending faults and is bounded to the north by the Middle Archaean West Nile granite-gneiss

complex and cut to the south by the Upper Zaire granitic complex.

The stratigraphy consists of a volcano-sedimentary sequence comprising fine-grained sedimentary rocks, several varieties of

pyroclastic rocks, basaltic rocks, mafic-intermediate intrusions (dykes and sills) and intermediate-felsic intrusive rocks (stocks,

dykes and sills). The sequence is variably altered from slight to intense such that in some cases the original rock is

unrecognisable.

Exploration

Exploration focused on the delineation drilling of the Mineral Resource at the main KCD deposit. The structural and lithological

controls of the KCD deposit were reviewed as well as a possible lateral link with the Gorungwa deposit.

A robust structural-alteration model is in place:

Mineralisation is controlled by zones of texturally destructive albite-carbonate-silica alteration (syn D1) along faults with a

similar orientation as S1. S1 is a regional shear fabric and in general strike north-west with a low dip to the north-east.

D1 is interpreted as shortening from the north-east, West Nile block over the basalt-volcanoclastic sequences, causing

south-west verging folds and thrusts.

Gold mineralisation was introduced late D1 to D2 due to preferential fracturing of the albite-carbonate-silica alteration

zones. S2 is an axial plane cleavage and in general strikes north-east with a moderate to steep dip north-west, explaining

the north-east trending mineralised corridors. D2 also causes the folding of S1, creating double plunging folds, as observed

in KCD mineralised zones. A prominent stretch lineation, L1, was also observed. It has in general a shallow plunge towards

north-east.

Post-mineralisation D3 produced a pervasive crenulation cleavage that in general strikes south-east with a low dip south-west.

Mineral Resource and Ore Reserve update

Cube Consulting completed an updated Mineral Resource estimation on KCD based on all drilling completed to August 2009.

New Mineral Resource numbers were generated and are reflected overleaf.

Continental Africa – DRC – Kibali

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Main changes in the Mineral Resource from the previous declaration include:

•

The open-pit Mineral Resource has been constrained within the US$1,000/oz Whittle pit shell at a 0.5g/t gold cut-off.

•

In the case of the KCD deposit, the underground Mineral Resource is reported as that material between the base of the pit

to underground interface (5,685m RL), at a 2g/t gold cutoff.

•

The net result is a slightly lower total Mineral Resource than previously reported but a significant increase in the Indicated

Mineral Resource, with 70% of the total Mineral Resource now being classified as an Indicated Mineral Resource.

Main changes in the Ore Reserve from the previous declaration include:

•

Cube Consulting completed the open-pit Ore Reserve estimation from the updated Mineral Resource numbers, while SRK

Consulting completed an update of the underground Ore Reserve based on a $700 gold price. New Ore Reserve numbers

are presented below and reflect a significant increase in the underground Ore Reserve to almost 6Moz, bringing the total

Ore Reserve number to 9.2Moz, a 67% increase from the previous declaration.

Mineral Resource (attributable)

as at 31 December 2009

Contained

Tonnes

Grade

gold

Kibali

Category

million

g/t

tonnes

Moz

Surface

Measured

–

Indicated

41.51

2.11

87.53

2.81

Inferred

14.77

3.09

45.57

1.47

Total

56.27

2.37

133.10

4.28

Underground

Measured

–

Indicated

17.67

6.08

107.40

3.45

Inferred

8.21

4.38

35.96

1.16

Total

25.88

5.54

143.36

4.61

Kibali

Total

82.15

3.37

276.46

8.89

Exclusive Mineral Resource

as at 31 December 2009

Contained

Tonnes

Grade

gold

Kibali

Category

million

g/t

tonnes

Moz

Measured

–

Indicated

30.46

2.18

66.28

2.13

Inferred

22.98

3.55

81.53

2.62

Kibali

Total

53.44

2.77

147.81

4.75

Kibali: Ore Reserve reconciliation

2009

Ounces (millions)

2.48

Acquisi-

tion

0.00

Depletion

1.66

Model

Change

0.00
New

ounces

from

projects

0.00

Scope

Change

4.14

2009

0.00

Change in

Economics

0.00

Other

2.00

4.00

Kibali: Mineral Resource reconciliation

2009

Ounces (millions)

10.13

Acquisi-

tion

0.00

Depletion

0.00
Gold

price

0.00

Exploration

-1.24

Metho-

dology

8.89

2009

0.00
Cost

0.00

Other

8.00

Change

12.00

10.00

6.00

4.00

2.00

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Ore Reserve

as at 31 December 2009

Contained

Tonnes

Grade

gold

Kibali

Category

million

g/t

tonnes

Moz

Surface

Proved

–

Probable

15.10

3.02

45.66

1.47

Total

15.10

3.02

45.66

1.47

Underground

Proved

–

Probable

13.61

6.10

82.99

2.67

Total

13.61

6.10

82.99

2.67

Kibali

Total

28.71

4.48

128.65

4.14

Competent persons

Professional

Registration

Relevant

Category

Type

Name

organisation

number

experience

Surface

Mineral Resource

Patrick Adams

AusIMM

112739

25 years

Ore Reserve

Quinton de Klerk

AusIMM

210114

15 years

Underground

Mineral Resource

Patrick Adams

AusIMM

112739

25 years

Ore Reserve

Paul Kerr

AusIMM

230539

13 years

Kibali – surface (metric)

Tonnes above
cut-off (millions)

Cut-off grade (g/t)

Average grade
above cut-off (g/t)

Tonnes above cut-off

Ave grade above cut-off

0.00

4.00

3.00

2.00

1.00

1.0

10.0

12.0

14.0

8.0

2.0

6.0

4.0

0.0

90.0

80.0

70.0

60.0

40.0

50.0

30.0

20.0

10.0

Kibali – underground (metric)

Tonnes above
cut-off (millions)

Cut-off grade (g/t)

Average grade
above cut-off (g/t)

Tonnes above cut-off

Ave grade above cut-off

1.0

15.0

20.0

25.0

5.0

10.0

0.0

350.0

300.0

250.0

200.0

100.0

150.0

50.0

0.00

20.00

16.00

12.00

8.00

4.00

Continental Africa – DRC – Mongbwalu

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

DRC – Mongbwalu

Location

The Mongbwalu project is located in Concession 40 (C40) in the north-east of the DRC. It is situated next to the village of

Mongbwalu which is 84km north-west of the regional town of Bunia and 320km north-west of Kampala in neighbouring

Uganda. An area of 7,443km

within C40 is held in a joint venture under an ammodiation agreement between AngloGold

Ashanti and OKIMO, which currently holds a 13.8% non-contributory share. The joint venture company is called Ashanti

Goldfields Kilo Ltd (AGK). The DRC Minerals Review Commission and negotiations with the Government led to an agreement

to transfer the mining rights of an area of 6,007km

in C40 from OKIMO to the joint venture. The area to be transferred contains

approximately 19 permits. The process of transferring the mining rights from OKIMO to AGK is expected to be concluded

early in 2010. As one of the conditions of the title transfer, AGK will be required to complete a feasibility study within

12 months.

Geology

Granitoids are the predominant rock type within the Kilo granite-greenstone belt. The granitoids contain rafts of Kibalian

amphibolites and talc carbonate schists that have been intruded by diorite-tonalite-granodiorite assemblages. The

Mongbwalu mineralisation is hosted in multiple, shallow dipping mylonite bodies that average 25m in width. Within the

mylonite zones, the gold is primarily concentrated in boudinaged quartz veins that appear to be orientated sub-parallel to the

mylonite zones and their immediate wall-rock. The alteration assemblage consists of chlorite-biotite-quartz-sericite and

mineralisation occurs in a pyrite-pyrrhotite assemblage (<2%) and in pyrite-pyrrhotite (<2%) and as free gold.

The easterly dipping mylonite zones are continuous throughout the area drilled, with the most prospective zone located close

to the old Adidi underground mine. Two north-south trending faults have offset the mineralisation and kept the mineralisation

within 300m of the surface. The mylonite can be traced along a strike length of approximately 8km through historical mining,

artisinal mining and recent geological mapping.

Exploration

All field-based exploration activities over the licence area were suspended in November 2008 following the deteriorating

security situation which led to the precautionary withdrawal of most non-essential staff from the concession. Interpretation

work of existing data continued through 2009, and field activities recommenced in November 2009, including drilling in the

Mongbwalu area.

The majority of AGK’s exploration activities in C40 have focused on the delineation of the Mineral Resource in the vicinity of

the abandoned underground Adidi-Kanga and Nzebi gold mines.

The most prospective parts of the greenstone belt have been covered by a total of 5,575km

of airborne magnetic and

radiometric surveys and a detailed geological interpretation map has been completed of the same area. The numerous gold

occurrences throughout the concession occur in geologically distinct belts and can efficiently be explored with soil sampling

programs. The stripped regolith profile makes soil sampling a very effective sampling strategy. Three fly camps have been

established as bases for the regional field work.

Mongbwalu 3D mineralisation model

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Project

At the conclusion of the joint venture agreement negotiations, a detailed feasibility study will commence on the Mongbwalu

Mineral Resource. This 12-month study is aimed at developing a financially viable mine that has the potential to generate rapid

cash flows with a payback period of less than seven years. The mining operations are planned to feed a plant with

approximately 60,000tpm. A high level conceptual study of the various mining options shows an underground mining method

will generate the highest cash flow.

The feasibility study will be focused on developing an underground mine centred around the old Adidi underground workings

that will potentially use some of the existing development to access ore as soon as possible.

Mineral Resource Estimation

AGK began drill testing of the Mineral Resource potential of the Mongbwalu area in mid-2005 and by the end of 2006, the

broader Mongbwalu area (Nzebi-Adidi-Kanga-Pluto) had been diamond drilled on a 200m x 200m grid. The programme

covered an area 2.2 by 2.7km centred over the southern part of the old Adidi mine.

From this drilling, distinct zones with potentially economic grades of gold in quartz-veins and mylonite were delineated. Infill

RC and DD on 50m x 50m centres was undertaken during 2007 to cover the areas of maximum potential hosting near-surface

open pit or shallow underground extractable mineralisation. The aim was to define an initial Inferred Mineral Resource by the

end of 2007. Data obtained from a total of 87,933m of drilling was used for Mineral Resource modelling and estimation which

was completed in late 2007. Resource drilling continued into 2008 with a single diamond rig and 8,824m of additional drilling

was completed.

In September 2009 a second Mineral Resource estimation was completed. The principal Mongbwalu mylonite horizons and

other important geological units defined by drillhole logging and interpretation were modelled using conventional 3D

wireframing techniques. To define the Inferred Mineral Resource, ore envelopes were created using a combination of grades

greater than 3.0g/t and the presence of quartz veining. Following geostatistical evaluation of the drillhole assay database, gold

grades were interpolated into a 3D block-model incorporating the principal geological units and ore envelopes using ordinary

kriging to define the Inferred Mineral Resource.

Initial scoping level mining, metallurgical, geotechnical, hydrogeological, environmental, socio-political and infrastructural

engineering studies were undertaken in parallel with the drilling to support the Mineral Resource estimate.

Mineral Resource (attributable)

as at 31 December 2009

Contained

Tonnes

Grade

gold

Mongbwalu

Category

million

g/t

tonnes

Moz

Underground

Measured

–

Indicated

–

Inferred

8.84

7.38

65.26

2.10

Mongbwalu

Total

8.84

7.38

65.26

2.10

Exclusive Mineral Resource

as at 31 December 2009

Contained

Tonnes

Grade

gold

Mongbwalu

Category

million

g/t

tonnes

Moz

Measured

–

Indicated

–

Inferred

8.84

7.38

65.26

2.10

Mongbwalu

Total

8.84

7.38

65.26

2.10

Competent persons

Professional

Registration

Relevant

Category

Name

organisation

number

experience

Mineral Resource

Mike O`Brien

AusIMM

206669

29 years

Continental Africa – DRC – Mongbwalu

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Mongbwalu – underground (metric)

Tonnes above
cut-off (millions)

Cut-off grade (g/t)

Average grade
above cut-off (g/t)

Tonnes above cut-off

Ave grade above cut-off

1.00

19.00

5.00

3.00

0.0

20.0

15.0

10.0

5.0

7.00

9.00

11.00

13.00

15.00

17.00

0.0

20.0

24.0

12.0

16.0

8.0

4.0

Mongbwalu: Mineral Resource reconciliation

2008 vs 2009

Ounces (millions)

2.53

2008

0.00

Depletion

0.00
Gold

price

0.00

Exploration

-0.21

Metho-

dology

2.10

2009

-0.21

Cost

1.00

0.00

Other

2.50

2.00

1.50

Change

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Continental Africa – Ghana

Ghana

Regional overview

AngloGold Ashanti has two mines in Ghana: Obuasi, which has both surface and underground operations and Iduapriem, an
open-pit mine. Obuasi and Iduapriem are both wholly owned by AngloGold Ashanti. Obuasi is located in the Ashanti region
of southern Ghana, approximately 80km south of Kumasi. It is primarily an underground mine operating at depths of up to
1,500m with a continuous history of mining dating back to the 1890s.

The orebody consists of two main ore types, firstly, quartz veining with non-refractory free gold and secondly, a sulphide-
hosted mineralisation style generally associated with arsenopyrite which is refractory. Three main structural trends control the
gold mineralisation within a 9km long continuous zone which remains open at depth. The Obuasi orebody is considered one
of the classic Birimian hosted orebodies.

At Iduapriem, situated in the western region of Ghana, some 70km north of the coastal city of Takoradi and 10km
south-west of Tarkwa, the gold mineralisation is hosted by the Proterozoic Banket Series, a conglomerate sequence of the
Tarkwaian System.

Mineral Resource estimation

Mineral Resource estimates are derived from interpretations of information about the location, shape, continuity and grade of
the individual orebodies.

The underground Mineral Resource at Obuasi is estimated using block models within the delineated mineralised ore zones.
The geological interpretation is based on diamond drill and cross-cut sampling information. A prototype block model of
20m x 5m x 15m representing the minimum mining unit was used and estimates are based on ordinary kriging.

Although no open-pit mining has taken place at Obuasi since 2005, three pits still contain a Mineral Resource. The open pit
Mineral Resource at Obuasi and Iduapriem was estimated using 3D computer block models constructed using the Datamine

software. Geological interpretation was based on trench and RC and/or DD data. A prototype block model of 30m x 30m x 10m
was used by the geological model and ordinary kriging as the primary estimation methodology.

Surface stockpiles volumes are based on surveyed figures and grades based on historical sampling. Tailings are part of the
Mineral Resource with tonnes and grades based on combinations of 3D block models of some dams and historical
metallurgical discharge data.

Ore Reserve estimation

The 3D Mineral Resource models are used as the basis for the Ore Reserve. An ore envelope is developed using the Mineral
Resource block model, geological information and the relevant cut-off grade, which is then used for mine design. Datamine

software called Mineral Resource Optimizer is used to generate the ore envelope. An appropriate mining layout is designed
that incorporates mining extraction losses, dilution factors and MCF.

Continental Africa – Ghana

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Mineral Resource and Ore Reserve gold prices and exchange rates

Units

2009

2008

Gold price – Mineral Resource

US$/oz

1,025

1,000

Gold price – Ore Reserve

US$/oz

850

720

Details of average drillhole spacing and type in relation to Mineral Resource classification

Type of drilling

Mine/

Spacing

Diamond

Blast-

Other

Comments

Project

Category

m (- x -)

hole

Iduapriem

Measured

50 x 50 and

–

50 x 100

–

Indicated

50 x 75 and

–

75 x 100

–

Inferred

50 x 100, and

–

100 x 100

–

Grade control 10 x 15

–

Obuasi:

Measured

20 x 20,

–

Auger drilling, historical information.

surface

50 x 50

–

No current exploration or production.

Indicated

30 x 0,

–

Auger drilling, historical information.

30 x 30,

–

No current exploration or production.

50 x 50,

–

60 x 0, and

–

60 x 60

–

Inferred

90 x 0,

–

Auger drilling, historical information.

90 x 90,

–

No current exploration or production.

Grade control 10 x 10

–

Obuasi:

Measured

20 x 20

–

underground

Indicated

60 x 60

–

Inferred

120 x 120

–

Grade control 1.5 x 25

–

Chip sampling of development ends

Ore Reserve modifying factors

as at 31 December 2009

Cut-off

Mine call factor

Metallurgical

weighted

RRF

MRF

(MCF) recovery

Mine

g/t

Iduapriem
Ajopa

1.00

–

100

Block 3W

1.00

–

100

Block 5

1.00

–

100

Blocks 7 and 8

1.00

–

100

Stockpile (full grade ore)

1.00

–

100

Stockpile (marginal ore)

–

100

Stockpile (other)

–

100

Obuasi
Above 50 Base

5.00

–

KMS 50-60

5.00

–

Stockpile (surface sulphides)

–

Tailings (Kokoteasua)

–

Tailings (Pompora)

–

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Continental Africa – Ghana – Iduapriem

Ghana – Iduapriem

Location

Iduapriem is located in the western region of Ghana, some 85km north of the coastal city of Takoradi, and approximately 8km

south-west of Tarkwa. Iduapriem is an open-pit mine which began mining operations in 1992. Its processing facilities include

a 4.4Mt per annum CIP plant with a gravity circuit that recovers about 30% total gold.

Geology

Iduapriem is located within the Tarkwaian Group and forms part of the West Africa Craton which is covered to a large extent

by metavolcanics and metasediments of the Birimian Supergroup. In Ghana, the Birimian terrane consists of north-east to

south-west trending volcanic belts separated by basins and the Tarkwa Group was deposited in these basins as shallow water

deltaic sedimentation. The gold mineralisation is contained in the Proterozoic Banket Series conglomerates.

The Banket Reef Zone comprises a sequence of individual beds of quartz pebble conglomerates (Banket beds), breccia

conglomerates, meta-sandstones (also called quartzites) and grits.The outcropping Banket Series in the mine area form

prominent arcuate ridges extending southwards from Tarkwa, westwards through Iduapriem and northwards towards

Teberebie.

All known gold mineralisation within the Banket Series is associated with the conglomerates and is found within the matrix

that binds the pebbles together. Gold content is a function of the size and amount (packing) of quartz pebbles present within

a conglomeratic unit. At Iduapriem, the gold mineralisation is unrelated to metamorphic or hydrothermal alteration events and

the gold is particulate and free milling. Mineralogical studies indicate that the grain size of native gold particles ranges between

2 and 500 microns (0.002 to 0.5mm) and averages 130 microns (0.13mm). Sulphide mineralisation is present only at trace

levels and is not associated with the gold.

Exploration

The leases of the mine have been extensively explored for their near surface Mineral Resource. However, limited work has

been done to assess the underground potential of these lease holdings. Hence, the opportunity to increase the Mineral

Resource of the mine lies predominantly in the under-explored underground area. Studies are currently underway to determine

if an economic Mineral Resource to support an underground mining proposition could be defined.

Mineral Resource (attributable)

as at 31 December 2009

Contained

Tonnes

Grade

gold

Iduapriem

Category

million

g/t

tonnes

Moz

Ajopa

Measured

3.37

2.29

7.71

0.25

Indicated

1.56

2.21

3.45

0.11

Inferred

1.36

2.22

3.02

0.10

Total

6.29

2.26

14.18

0.46

Block 3W

Measured

–

Indicated

2.76

1.44

3.98

0.13

Inferred

1.03

1.31

1.36

0.04

Total

3.80

1.40

5.33

0.17

Block 5

Measured

6.41

1.24

7.95

0.26

Indicated

1.91

1.28

2.44

0.08

Inferred

2.44

1.33

3.24

0.10

Total

10.75

1.27

13.63

0.44

Continental Africa – Ghana – Iduapriem

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Mineral Resource (attributable) cont.

as at 31 December 2009

Contained

Tonnes

Grade

gold

Iduapriem

Category

million

g/t

tonnes

Moz

Blocks 7 and 8

Measured

17.35

1.36

23.60

0.76

Indicated

37.97

1.76

66.76

2.15

Inferred

4.24

1.72

7.30

0.23

Total

59.56

1.64

97.65

3.14

Stockpile (full grade ore)

Measured

2.77

1.08

2.99

0.10

Indicated

–

Inferred

–

Total

2.77

1.08

2.99

0.10

Stockpile (other)

Measured

–

Indicated

–

Inferred

16.50

0.56

9.32

0.30

Total

16.50

0.56

9.32

0.30

Iduapriem

Total

99.68

1.44

143.11

4.60

Exclusive Mineral Resource

as at 31 December 2009

Contained

Tonnes

Grade

gold

Iduapriem

Category

million

g/t

tonnes

Moz

Measured

3.54

1.05

3.72

0.12

Indicated

20.98

1.68

35.21

1.13

Inferred

25.57

0.95

24.23

0.78

Iduapriem

Total

50.09

1.26

63.17

2.03

Exclusive Mineral Resource

Most of the Exclusive Mineral Resource quoted is in the down-dip extensions of the ore zones beyond the optimised pit shells

and the Inferred Resource within the pits. Thus, most of this Mineral Resource would be mineable at an upside gold price.

Iduapriem: Ore Reserve reconciliation

2008 vs 2009

Ounces (millions)

2.55

2008

-0.82

Depletion

0.00

Model

Change

0.00
New

ounces

from

projects

0.02

Scope

Change

2.40

2009

0.00

Change in

Economics

2.00

0.01

Other

2.50

Iduapriem: Mineral Resource reconciliation

2008 vs 2009

Ounces (millions)

4.87

2008

-0.24

Depletion

0.24
Gold

price

0.00

Exploration

0.00

Metho-

dology

4.60

2009

-0.28

Cost

4.00

0.00

Other

5.00

4.50

Change

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Ore Reserve

as at 31 December 2009

Contained

Tonnes

Grade

gold

Iduapriem

Category

million

g/t

tonnes

Moz

Ajopa

Proved

3.07

2.13

6.54

0.21

Probable

1.03

2.03

2.09

0.07

Total

4.09

2.11

8.62

0.28

Block 3W

Proved

–

Probable

1.63

1.50

2.44

0.08

Total

1.63

1.50

2.44

0.08

Block 5

Proved

6.09

1.17

7.15

0.23

Probable

1.82

1.20

2.18

0.07

Total

7.91

1.18

9.33

0.30

Blocks 7 and 8

Proved

14.43

1.34

19.35

0.62

Probable

18.75

1.70

31.81

1.02

Total

33.18

1.54

51.17

1.65

Stockpile (full grade ore)

Proved

2.77

1.08

2.99

0.10

Probable

–

Total

2.77

1.08

2.99

0.10

Iduapriem

Total

49.58

1.50

74.56

2.40

Competent persons

Professional

Registration

Relevant

Category

Name

organisation

number

experience

Mineral Resource

Kwasi Osei

AusIMM

112723

15 years

Ore Reserve

Emmanuel Baffour Boakye

AusIMM

222459

22 years

Iduapriem – surface (metric)

Tonnes above
cut-off (millions)

0.00

Cut-off grade (g/t)

1.00

2.00

3.00

Average
grade
above
cut-off
(g/t)

Tonnes above cut-off

Ave grade above cut-off

0.50

1.50

2.50

0.0

200.0

40.0

80.0

100.0

120.0

160.0

180.0

140.0

60.0

20.0

1.5

3.5

4.0

3.0

2.5

2.0

Continental Africa – Ghana – Obuasi

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Ghana – Obuasi

Location

The Obuasi mine is located in the Ashanti region of Ghana, some 80km south of Kumasi. It is an underground mine extending

over 9km on strike and mining to a depth of 1,500m below surface. Large-scale open-pit mining took place between the years

1990 and 2000 and the contribution from open-pit mining is currently less than 1% of annual production. There are two active

treatment plants: the sulphide treatment plant to process underground ore and the tailings treatment plant to handle tailings

reclamation operations.

Geology

The gold deposits at Obuasi are part of a prominent gold belt of Proterozoic (Birimian) volcano-sedimentary and igneous

formations. These deposits extend for a distance of approximately 300km, in a north-east/south-west trend, in south-western

Ghana. Obuasi gold mineralisation is shear-zone-related and there are three main structural trends within the Obuasi

concession; namely the Main trend, the Gyabunsu trend and the Binsere trend. The underground mine is situated on the Main

trend which is a graphite-chlorite-sericite fault zone associated with silica, carbonate and sulphide hydrothermal alteration.

Deformation of the main shear resulted in an anastomosing structural pattern of secondary mineralised shears with pinch and

swell structures. This is more evident where more resistant metavolcanics occur as lenses within the system.

Two main ore types are mined, namely quartz veins and sulphide ore. The quartz vein type consists mainly of quartz with free

gold in association with lesser amounts of various metal sulphides containing iron, zinc, lead and copper. This ore type is

generally non-refractory.

Sulphide ore is characterised by the inclusion of gold in the crystal structure of sulphide minerals. Higher gold grades tend to

be associated with finer grained arsenopyrite crystals. Other prominent minerals include quartz, chlorite and sericite. Sulphide

ore is generally refractory.

26 Level

12 Level

8 Level

20 Level

32 Level

38 Level

41 Level

-1000m

-500m

Zero

250m

Main Fissure

Obuasi
Fissure

Footwall

Quartz

150m

SECTION THROUGH KWESI MENSAH SHAFT

K - Fissure

N - Fissure

12/74
Fissure

Cote D’Or

Fissure

Cote D’Or Spur

Cowsu

Spur

Big Blow

4 & 5 Lodes

3 West

Legend

Auriferous Quartz Vein

Carbonaceous/Graphitic Fissure

Barren Metavolcanic (Dyke)

Mineral - Auriferous - Metavolcanic (Dyke)

Phyllites, Greywackes and Shists

OXIDISED

ZONE

100m

-100m

-200m

-300m

-400m

-500m

-600m

-700m

S.V.S
OREBODY folded

phyllite
and
sitstone
granulated
phyllite

folded phyllites
siltstones and
greywackers

Ashanti

fissure

schist
greywacker
phyllite

Insintsiam reef

ADANSI
SHAFT

Obuasi
Fissure

Cote d’or
fissure

120m

Legend

Auriferous Quartz Vein

Carbonaceous/Graphitic Fissure

Barren Metavolcanic (Dyke)

Phyllites, Greywackes and Shists

Section through Kwesi Mensah shaft

Section through Adansi shaft 5

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Exploration

Exploration on the Obuasi concession is currently limited to underground drilling to explore the Obuasi Deeps below 50 level

and southern extensions of the current mining areas above 50 level. Drilling from 50 level was suspended in July 2009 as a

result of torrential rain which flooded the level. Exploration activities will re-commence in early 2010.

Exploration drilling above 50 level recommenced in August 2009 and the first ore zone intersection is expected early in 2010.

Projects

Mining method

Obuasi has embarked on a conversion of mining method over the next two years from current transverse and longitudinal

open stoping, to a full longitudinal retreat method (LRM). The conversion will take place in mining blocks where it is suitable

to do so. In 2008, 20% of the mine was designed for LRM; in 2009 up to 70% above 50 level and 100% below 50 level had

been designed with the new method and 100% below 50 level. Stope production is scheduled to start in mid 2010.

The major advantage of this method is the up to 50% reduction in waste development; reducing capital expenditure along

with additional reef drive exposure.

The change in mining method has been coupled with the introduction of fully mechanised development from the second

quarter of 2010 with up to 65% of all development being mechanised by 2012.

Pompora reclamation project

The objective of the project is to construct a reclamation station and pipeline to enable the reclamation of Kokoteasua and

Pompora tailing storage facilities and pump the reclaimed material to the tailings treatment plant (TSP) to extract the gold. The

feasibility study is based on the utilisation of the TSP float circuit and redundant capacity in the Biox

and Biox

CIL circuit at

the sulphide treatment plant.

KMS 50-60 level mining block 11

The intention is to complete the feasibility for this project late in 2010. Initial development is scheduled for the first quarter of

2011. The project is designed to be fully LRM with 100% mechanised development. First gold from the project is scheduled

for 2013.

Mineral Resource (attributable)

as at 31 December 2009

Contained

Tonnes

Grade

gold

Obuasi

Category

million

g/t

tonnes

Moz

Above 50 base

Measured

36.52

7.58

276.84

8.90

Indicated

15.59

7.52

117.29

3.77

Inferred

24.17

6.81

164.52

5.29

Total

76.28

7,32

558.65

17.96

Adansi 50-60

Measured

1.69

5.66

9.59

0.31

Indicated

1.27

4.68

5.94

0.19

Inferred

2.82

5.55

15.63

0.50

Total

5.78

5.39

31.16

1.00

Adansi 60-70

Measured

0.26

5.21

1.34

0.04

Indicated

0.31

5.31

1.63

0.05

Inferred

1.68

7.14

11.97

0.38

Total

2.24

6.67

14.93

0.48

Continental Africa – Ghana – Obuasi

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Mineral Resource (attributable) cont.

as at 31 December 2009

Contained

Tonnes

Grade

gold

Obuasi

Category

million

g/t

tonnes

Moz

Anyankyirem Measured

0.40

2.41

0.97

0.03

Indicated

2.86

2.60

7.44

0.24

Inferred

0.78

2.49

1.94

0.06

Total

4.04

2.56

10.35

0.33

Anyinam Measured

0.00

2.35

0.00

Indicated

0.04

3.20

0.14

–

Inferred

0.12

3.74

0.44

0.01

Total

0.16

2.59

0.58

0.02

Gyabunsu-Sibi

Measured

–

3.50

0.01

–

Indicated

0.24

4.79

1.14

0.04

Inferred

0.21

4.76

0.98

0.03

Total

0.45

4.77

2.13

0.07

KMS 50-60

Measured

0.70

18.22

12.67

0.41

Indicated

2.20

18.52

40.79

1.31

Inferred

3.07

10.91

33.55

1.08

Total

5.97

14.57

87.01

2.80

KMS 60-70

Measured

–

12.48

–

Indicated

0.18

14.16

2.62

0.08

Inferred

2.76

17.62

48.70

1.57

Total

2.95

17.40

51.32

1.65

Other surface resources

Measured

–

Indicated

–

Inferred

0.07

2.98

0.21

0.01

Total

0.07

2.98

0.21

0.01

Sansu (low grade sulphides)

Measured

3.26

4.61

15.02

0.48

Indicated

2.19

4.12

9.03

0.29

Inferred

3.05

4.52

13.80

0.44

Total

8.51

4.45

37.85

1.22

Stockpile (heap leach)

Measured

0.47

0.50

0.23

0.01

Indicated

–

Inferred

–

Total

0.47

0.50

0.23

0.01

Stockpile (surface oxides)

Measured

0.03

1.72

0.05

–

Indicated

–

Inferred

–

Total

0.03

1.72

0.05

–

Stockpile (surface sulphides)

Measured

0.30

2.63

0.80

0.03

Indicated

–

Inferred

–

Total

0.30

2.63

0.80

0.03

Tailings (Kokoteasua)

Measured

3.36

1.96

6.58

0.21

Indicated

1.65

1.96

3.24

0.10

Inferred

–

Total

5.01

1.96

9.83

0.32

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Mineral Resource (attributable) cont.

as at 31 December 2009

Contained

Tonnes

Grade

gold

Obuasi

Category

million

g/t

tonnes

Moz

Tailings (Pompora)

Measured

–

Indicated

–

Inferred

32.78

1.58

51.79

1.67

Total

32.78

1.58

51.79

1.67

Upper Mine

Measured

3.32

10.06

33.42

1.07

Indicated

1.64

8.39

13.76

0.44

Inferred

1.36

10.48

14.26

0.46

Total

6.32

9.71

61.44

1.98

Obuasi

Total

151.36

6.07

918.34

29.53

Exclusive Mineral Resource

as at 31 December 2009

Contained

Tonnes

Grade

gold

Obuasi

Category

million

g/t

tonnes

Moz

Measured

23.54

5.66

133.13

4.28

Indicated

13.91

7.48

104.08

3.35

Inferred

28.04

6.51

182.64

5.87

Obuasi

Total

65.49

6.41

419.86

13.50

Exclusive Mineral Resource

The Obuasi Exclusive Mineral Resource is made up of Mineral Resource from underground, open pit and tailings. The bulk of

the Exclusive Mineral Resource (71%) is from underground and of this Mineral Resource, 52% is locked up in Mineral

Resource blocks and remnants in historical mined out areas in the north of the mine. This Mineral Resource cannot be

accessed due to old infrastructure. The remainder of the underground Exclusive Mineral Resource is mineable between

Mineral Resource and Ore Reserve cut-offs (11%), below 50 level (18%) and in areas where more investigation is required (6%).

Some of the Exclusive Mineral Resource will be brought into the Ore Reserve as mining development is put into place to

access these areas, and also as the economic criteria change.

Approximately 10% of the Exclusive Mineral Resource is from tailings and will be brought into the Ore Reserve as infrastructure

is developed and capacity is increased in the tailings treatment plant. Two of the tailings dams are also active and an Exclusive

Mineral Resource margin will be maintained.

None of the three open pits in the Mineral Resource is currently included in the Ore Reserve. This represents 4% of the

Exclusive Mineral Resource. To bring open pits into the Ore Reserve will require more geotechnical investigation, optimisation

and mine design.

Mineral Resource below infrastructure

as at 31 December 2009

Contained

Tonnes

Grade

gold

Obuasi

Category

million

g/t

tonnes

Moz

KMS 50 – 60 level

Total

5.97

14.57

87.01

2.80

KMS 60 – 70 level

Total

2.95

17.40

51.32

1.65

Adansi 50 – 60 level

Total

5.78

5.39

31.16

1.00

Adansi 60 – 70 level

Total

2.24

6.67

14.93

0.48

Obuasi

Total

16.94

10.89

184.43

5.93

Continental Africa – Ghana – Obuasi

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Ore Reserve

as at 31 December 2009

Contained

Tonnes

Grade

gold

Obuasi

Category

million

g/t

tonnes

Moz

Above 50 base

Proved

11.09

7.33

81.33

2.61

Probable

22.52

7.33

165.12

5.31

Total

33.62

7.33

246.45

7.92

KMS 50-60

Proved

1.09

13.14

14.33

0.46

Probable

2.21

13.14

29.09

0.94

Total

3.30

13.14

43.41

1.40

Stockpile (surface sulphides)

Proved

0.09

4.50

0.41

0.01

Probable

–

Total

0.09

4.50

0.41

0.01

Tailings (Kokoteasua)

Proved

1.65

1.96

3.24

0.10

Probable

3.36

1.96

6.58

0.21

Total 5.01

1.96

9.83

0.32

Obuasi

Total

42.02

7.14

300.10

9.65

Ore Reserve below infrastructure

as at 31 December 2009

Contained

Tonnes

Grade

gold

Obuasi

Category

million

g/t

tonnes

Moz

KMS 50 – 60 level

Total

3.30

13.14

43.41

1.40

Obuasi: Ore Reserve reconciliation

2008 vs 2009

Ounces (millions)

9.66

2008

-0.65

Depletion

-2.75

Model

Change

0.00
New

ounces

from

projects

3.38

Scope

Change

9.65

2009

0.00

Change in

Economics

0.00

Other

Obuasi: Mineral Resource reconciliation

2008 vs 2009

Ounces (millions)

37.35

2008

-0.51

Depletion

0.00
Gold

price

0.01

Exploration

-1.72

Metho-

dology

29.53

2009

-0.13

Cost

-5.47
Other

Change

4.00

8.00

10,00

6.00

25.00

41.00

37.00

33.00

29.00

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Competent persons

Professional

Registration

Relevant

Category

Name

organisation

number

experience

Mineral Resource

Heinrich Eybers

AusIMM

229471

23 years

Ore Reserve

Richard Downing

AusIMM

229889

23 years

Obuasi – surface (metric)

Tonnes above
cut-off (millions)

Cut-off grade (g/t)

Average grade
above
cut-off (g/t)

Tonnes above cut-off

Ave grade above cut-off

0.00

10.00

2.00

1.00

2.0

8.0

10.0

12.0

6.0

4.0

0.0

5.0

4.0

3.0

2.0

3.00

4.00

5.00

6.00

7.00

8.00

1.0

9.00

Obuasi – underground (metric)

Tonnes above
cut-off (millions)

0.00

Cut-off grade (g/t)

20.00

Average grade above cut-off (g/t)

Tonnes above cut-off

Ave grade above cut-off

2.00

8.00

12.00

5.0

45.0

25.0

105.0

65.0

85.0

16.00

5.0

10.0

15.0

35.0

20.0

25.0

30.0

4.00

6.00

10.00

14.00

18.00

Obuasi – Block 9 3D

Continental Africa – Guinea

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Guinea

Regional overview

The Siguiri mine is AngloGold Ashanti’s only operation in the Republic of Guinea in West Africa. The mine is 85% owned by

AngloGold Ashanti and 15% by the government of Guinea. The mine is a conventional open-pit operation situated in the Siguiri

district in the north-east of the Republic of Guinea, West Africa. It lies about 850km from the capital city of Conakry. Gold-

bearing ore is mined from several pits and sent to a CIP plant.

The Siguiri orebody is hosted in Birimian aged rocks and characterised by wide zones of multiple narrow quartz veins hosting

gold mineralisation. The deposits have been influenced by a deep weathering profile, typically 50-80m below surface, resulting

in broad zones of low grade mineralisation easily amenable to bulk mining methods. Mining is presently focused on block 1,

which hosts the processing plant and mining operations, with ongoing exploration of blocks 2-4 expected to increase

significantly in line with the operations’ long term development plans so as to maximise the Mineral Resource potential.

Mineral Resource estimation

Mineral Resource definition drilling consists of air core (AC), reverse circulation (RC) and diamond drilling (DD) boreholes.

All available geological drillhole information is validated for usage in the models and the local geology of the orebody is used

to classify the drillhole information into appropriate geostatistical domains. Detailed statistical analyses are conducted on each

of these domains and this allows for the identification of high grade outliers. If these values are anomalous to the general

population characteristics then they are cut back to the appropriate upper limit of the population.

The Mineral Resource is estimated using 3D computer block models constructed in Datamine

software. Geological

interpretation is based on geological borehole data. A prototype block model ranging from 10m x 10m x 2.5m to 50m x 25m

x 6m block sizes, depending on the shape of the orebody and drilling density, is used within the geological model outlines.

Ordinary and indicator kriging are used to estimate gold grades and a limiting pit shell at $1,025/oz is used to quantify the

total Mineral Resource.

Mineral Resource and Ore Reserve gold prices and exchange rates

Units

2009

2008

Gold price – Mineral Resource

US$/oz

1,025

1,000

Gold price – Ore Reserve

US$/oz

800

720

Details of average drillhole spacing and type in relation to Mineral Resource classification

Type of drilling

Mine/

Spacing

Diamond

Blast-

Other

Comments

Project

Category

m (- x -)

hole

Siguiri

Measured

5 x 10,10 x 5

–

Indicated

20 x 40,

–

Mainly RC, but AC is used in the

25 x 25, and

–

early stages and some DD holes

25 x 50

–

are drilled for geology

Inferred

20 x 40,

–

Mainly RC, but AC is used in the

25 x 50, and

–

early stages and some DD holes

50 x 50

–

are drilled for geology

Grade control 5 x 10, and

–

5 x 12.5

–

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Ore Reserve estimation

The Mineral Resource models for each pit are depleted to the mining surfaces. Costs are assigned on a pit-by-pit basis

reflecting the current existing cost structure of the operation. The relevant dilution and ore loss factors are applied and the

optimisation is done in Whittle

software. The relevant metallurgical recoveries, geotechnical parameters, cut-off grades and

economics are applied to generate the final Ore Reserve.

Ore Reserve modifying factors

as at 31 December 2009

Mine call

Metal-

Cut-off

factor

lurgical

weighted

RRF

MRF

(MCF) recovery

Mine

g/t

Comments

Siguiri
Bidini

0.35

100

Average recovery (96% oxides,
55% transitional, 88% marginal ore)

Eureka East

0.35

100

As above

Eureka North

0.35

100

As above

Foulata

0.35

100

As above

Kalamagna

0.35

100

As above

Kami

0.35

100

As above

Kosise

0.35

100

As above

Kozan North

0.35

100

As above

Kozan South

0.35

100

As above

Seguelen

0.35

100

As above

Sintroko South

0.35

100

As above

Sokunu

0.35

100

As above

Soloni

0.35

100

As above

Sorofe

0.35

100

As above

Stockpile 0.35

100

above

(full grade ore)

Stockpile 0.35

100

above

(marginal ore)

Stockpile 0.35

100

above

(spent heap leach)

Continental Africa – Guinea – Siguiri

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Guinea – Siguiri

Location

Société Ashanti Goldfields De Guinée

Siguiri gold mine is situated in the Siguiri district in the north-east of the Republic of Guinea, West Africa, about 850km from

the capital city of Conakry. The mining concession consists of four blocks totalling 1,494.58km

. It is a multi open-pit oxide

gold mining operation. The current LOM plan entails the mining of eleven individual pits, several of which are multi-stage. All

ore and waste is mined by a mining contractor in a conventional open-pit mining operation. Processing is done via a CIP plant.

Geology

This concession is dominated by Neoproterozoic Birimian rocks which consist of turbidite facies sequences and lesser

volcanoclastic sequences. The mineralisation is structurally controlled and occurs either as sheeted veins or within shear

zones. There are two main types of oxide mineralisation in the Siguiri basin: elluvial- or alluvial-hosted laterite mineralisation

and primary quartz-vein-related or shear hosted mineralisation. The laterite mineralisation occurs as aprons of colluvial or as

palaeo-channels of alluvial lateritic gravel adjacent to, and immediately above, the in situ vein-related or shear zone

mineralisation. The in-situ mineralisation can occur as either sheeted veins or associated with shear zones, with the best

mineralisation often occurring at the intersection of the two.

The shear hosted style appears to be a slightly older event related to the development of a number of north-south striking

shear zones that may cut different lithologies. This phase of mineralisation is usually associated with silicification, brecciation

and quartz-albite-pyrite veining, with magnetite being present at some localities. The vein-related mineralisation occurs as

north-east to south-east to east-west striking, discontinuous sheeted veins. The better mineralised areas are associated with

vein stockworks that occur preferentially in the coarser, brittle siltstones and sandstones. The sheeted veins appear to be

related to a younger folding event and appear to be developed on fold axial planes. Mineralisation is associated with white

quartz veins, with grey selvages and scattered large arsenopyrite crystals proximal to these veins. Mineralisation at Siguiri has

been deeply weathered to an average vertical depth of 100m, and the mineralised saprolite provides the primary oxide

feedstock for the CIP plant. Fresh hard mineralisation is not processed in the current plant. The practice at Siguiri was to blend

the laterite and saprolite ore types and to process these using the heap-leach method. With the percentage of available laterite

ore decreasing, however, a CIP plant was brought on stream during 2005 to treat predominantly saprolite oxide ore.

The Siguiri mineralisation is characterised by coarse gold with low average grade and highly skewed distributions. This is the

main geological feature taken into account during data collection and estimation.

Exploration

The primary objective of the exploration initiative at Siguiri is to discover or upgrade prospective areas, enhancing the value

of the concession. Exploration is focused on finding and upgrading oxide style mineralisation in the saprolite, using drillhole

sampling, geophysics, and soil geochemistry in the context of the regional and pit-scale geological models. Almost 190,000m

were drilled during the year, and consisted of 156,700m brownfield exploration, 21,195m sterilisation, 7,032m Sintroko test

work and 5,071m for metallurgical testing.

The areas around the current pits were the focus of this year’s drilling, investigating potential extensions to the current pits.

The principal targets that were explored include Sintroko South and West, Kosise South, Kami South, Kami Saddle, Kozan

Northwest, Toubani Extension, Eureka East and Komatiguia. Extension drilling was undertaken at Sintroko South and to the

north-west of Seguélén pits. The Seguélén north-west extension drilling (Komatiguia project) was done after completion of a

detailed gravity survey and the identification of a geochemical soil anomaly. The fresh rock potential below a number of pits

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

was also investigated, with particular emphasis on the Kami, Sintroko and Bidini pits. Metallurgical drilling was completed

under these pits with the aim of obtaining samples to be used for gold deportment and extraction studies. One gravity survey

was completed in the Kintinian area and geochemical sampling of block 1 continued through the year with approximately 70%

of block 1 being sampled on a 200m x 50m grid by year end.

Siguiri: 3D model of the P1 area

Siguiri: drillholes within the P1 area

Continental Africa – Guinea – Siguiri

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Mineral Resource

Mineral Resource growth during the year was mainly due to exploration infill drilling and updated Mineral Resource modelling

in which the main mining area, consisting of 12 deposits, was modelled in an integrated approach. Previously the deposits

were modelled, optimised, designed and scheduled independently. The impact of the integrated approach is that some of the

individual pits have merged, highlighting opportunities between the current pits.

Seguélén

The Mineral Resource as published for Seguélén does not reflect the full potential of the deposit. An additional 10Mt grading

at 1.2g/t (380,000oz) have been delineated by a 50m x 50m drill pattern. This mineralisation is currently not accessible due

to its proximity to the Kintinian village and hence cannot be considered, at this stage, to have a reasonable and realistic

prospect for eventual economic extraction. Based on mineralised trends there may be further untested potential beneath the

Kintinian village. Negotiations with the local authorities are underway in an effort to secure access.

Sintroko

A bulk sampling project was initiated during the year at the Sintroko Pit after discrepancies were noted in the initial

reconciliations between grade control and the Mineral Resource model. The project involved drilling a volume of ground with

both exploration and grade control drill rigs and sampling protocols. The material was then mined and processed. The

preliminary results show good correlation between the new exploration and grade control drilling. The project is still in progress

with results expected during the first quarter of 2010. The project is expected to provide valuable insight into maximising the

overall value of Siguiri.

Mineral Resource (attributable)

as at 31 December 2009

Contained

Tonnes

Grade

gold

Siguiri

Category

million

g/t

tonnes

Moz

Bidini

Measured

–

Indicated

6.31

1.12

7.09

0.23

Inferred

12.29

0.96 11.76

0.38

Total

18.60

1.01

18.85

0.61

Eureka East

Measured

–

Indicated

0.63

0.76

0.48

0.02

Inferred

0.12

0.70

0.08

0.00

Total

0.74

0.75

0.56

0.02

Eureka North

Measured

–

Indicated

1.48

0.79

1.16

0.04

Inferred

0.45

0.80

0.36

0.01

Total

1.93

0.79

1.52

0.05

Foulata Measured

–

Indicated

–

Inferred

2.77

1.46

4.04

0.13

Total

2.77

1.46

4.04

0.13

Kalamagna

Measured

–

Indicated

6.42

0.72

4.63

0.15

Inferred

7.04

0.86

6.06

0.19

Total

13.46

0.79

10.69

0.34

Kami

Measured

9.70

0.95

9.19

0.30

Indicated

4.62

0.90

4.16

0.13

Inferred

6.41

0.93

5.97

0.19

Total

20.72

0.93

19.32

0.62

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Mineral Resource (attributable) cont.

as at 31 December 2009

Contained

Tonnes

Grade

gold

Siguiri

Category

million

g/t

tonnes

Moz

Kosise

Measured

–

Indicated

13.30

0.74

9.89

0.32

Inferred

7.85

0.84

6.58

0.21

Total

21.15

0.78

16.48

0.53

Kozan North

Measured

–

Indicated

7.87

0.69

5.44

0.17

Inferred

5.54

0.85

4.69

0.15

Total

13.41

0.76

10.13

0.33

Kozan South

Measured

–

Indicated

1.78

0.78

1.39

0.04

Inferred

1.69

0.79

1.33

0.04

Total

3.47

0.78

2.72

0.09

Seguélén

Measured

–

Indicated

15.08

1.08

16.34

0.53

Inferred

10.18

1.18

11.97

0.38

Total

25.26

1.12

28.31

0.91

Sintroko South

Measured

–

Indicated

20.35

1.21

24.60

0.79

Inferred

0.66

2.35

1.55

0.05

Total

21.01

1.24

26.14

0.84

Sokunu

Measured

–

Indicated

2.43

0.82

1.99

0.06

Inferred

0.60

0.84

0.50

0.02

Total

3.03

0.82

2.50

0.08

Soloni

Measured

–

Indicated

6.04

0.95

5.71

0.18

Inferred

5.25

0.80

4.21

0.14

Total

11.29

0.88

9.92

0.32

Sorofe

Measured

–

Indicated

11.89

0.86

10.18

0.33

Inferred

3.97

0.79

3.13

0.10

Total

15.86

0.84

13.31

0.43

Stockpile (full grade ore)

Measured

8.33

0.84

7.00

0.23

Indicated

–

Inferred

–

Total

8.33

0.84

7.00

0.23

Stockpile (marginal ore)

Measured

18.55

0.46

8.53

0.27

Indicated

–

Inferred

–

Total

18.55

0.46

8.53

0.27

Stockpile (spent heap leach)

Measured

–

Indicated

31.95

0.54

17.29

0.56

Inferred

13.40

0.57

7.61

0.24

Total

45.35

0.55

24.90

0.80

Siguiri

Total

244.95

0.84

204.92

6.59

Continental Africa – Guinea – Siguiri

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Exclusive Mineral Resource

as at 31 December 2009

Contained

Tonnes

Grade

gold

Siguiri

Category

million

g/t

tonnes

Moz

Measured

3.75

0.78

2.93

0.09

Indicated

45.56

0.86

39.30

1.26

Inferred

78.22

0.89

69.85

2.25

Siguiri

Total

127.52

0.88

112.07

3.60

Exclusive Mineral Resource

The Exclusive Mineral Resource represents the future potential at Siguiri and comes from three areas:

•

material that is economic at the Mineral Resource gold price of US$1,025 per ounce, but not at the Ore Reserve price of
US$800 per ounce (67% of the Exclusive Mineral Resource);

•

new deposits that are currently at the Inferred level of confidence. These areas will be in-fill drilled in the future (26% of the
Exclusive Mineral Resource); and

•

the Inferred Mineral Resource within the current pit designs (7% of the Exclusive Mineral Resource).

Inferred Mineral Resource in business plan

The Inferred Mineral Resource is used in the pit optimisation process if its total percentage amounts to 10% or less of the total
Ore Reserve. If the Inferred Mineral Resource was greater than 15%, the optimisation was redone excluding the Inferred
resultant ounces. The Inferred Mineral Resource within an optimised shell and subsequent design was used for scheduling.
The final schedule included 283,364oz of Inferred Mineral Resource in the final designs, which represents 7% of the scheduled
ounces.

Siguiri: Ore Reserve reconciliation

2008 vs 2009

Ounces (millions)

3.25

2008

-0.26

Depletion

0.18

Model

Change

0.00
New

ounces

from

projects

0.11

Scope

Change

3.07

2009

0.10

Change in

Economics

2.00

-0.30
Other

3.00

3.50

2.50

Siguiri: Mineral Resource reconciliation

2008 vs 2009

Ounces (millions)

5.94

2008

-0.29

Depletion

0.09
Gold

price

0.46

Exploration

0.90

Metho-

dology

6.59

2009

-0.43

Cost

4.00

-0.08
Other

7.00

5.00

6.00

Change

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Ore Reserve

as at 31 December 2009

Contained

Tonnes

Grade

gold

Siguiri

Category

million

g/t

tonnes

Moz

Bidini Proved

–

Probable

0.84

1.92

1.62

0.05

Total

0.84

1.92

1.62

0.05

Eureka East

Proved

–

Probable

0.35

0.69

0.24

0.01

Total

0.35

0.69

0.24

0.01

Kalamagna

Proved

–

Probable

3.70

0.76

2.80

0.09

Total

3.70

0.76

2.80

0.09

Kami

Proved

3.94

1.03

4.06

0.13

Probable

1.28

0.84

1.08

0.03

Total

5.22

0.98

5.13

0.16

Kosise

Proved

–

Probable

5.28

0.79

4.18

0.13

Total

5.28

0.79

4.18

0.13

Kozan North

Proved

–

Probable

2.56

0.76

1.95

0.06

Total 2.56

0.76

1.95

0.06

Kozan South

Proved

–

Probable

0.71

1.05

0.75

0.02

Total

0.71

1.05

0.75

0.02

Seguélén

Proved

–

Probable

12.84

1.15

14.80

0.48

Total

12.84

1.15

14.80

0.48

Sintroko South

Proved

–

Probable

14.74

1.26

18.53

0.60

Total

14.74

1.26

18.53

0.60

Sokunu

Proved

–

Probable

2.01

0.84

1.69

0.05

Total

2.01

0.84

1.69

0.05

Soloni Proved

–

Probable

3.67

1.10

4.04

0.13

Total

3.67

1.10

4.04

0.13

Sorofe Proved

–

Probable

7.91

0.89

7.02

0.23

Total

7.91

0.89

7.02

0.23

Stockpile (full grade ore)

Proved

8.33

0.84

7.00

0.23

Probable

–

Total

8.33

0.84

7.00

0.23

Continental Africa – Guinea – Siguiri

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Ore Reserve cont.

as at 31 December 2009

Contained

Tonnes

Grade

gold

Siguiri

Category

million

g/t

tonnes

Moz

Stockpile (marginal ore)

Proved

18.55

0.46

8.53

0.27

Probable

–

Total

18.55

0.46

8.53

0.27

Stockpile (spent heap leach)

Proved

–

Probable

31.95

0.54

17.29

0.56

Total

31.95

0.54

17.29

0.56

Siguiri

Total

118.67

0.81

95.58

3.07

Competent persons

Professional

Registration

Relevant

Category

Name

organisation

number

experience

Mineral Resource

Peter Winkler

AusIMM

220329

25 years

Ore Reserve

Tebogo Mushi

SAIMM

702438

9 years

Siguiri – surface (metric)

Tonnes above
cut-off (millions)

0.00

Cut-off grade (g/t)

3.00

Average grade above
cut-off (g/t)

1.50

2.00

2.50

0.50

0.5

3.5

4.5

2.5

1.5

0.0

350.0

150.0

250.0

300.0

200.0

100.0

50.0

1.00

Tonnes above cut-off

Ave grade above cut-off

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Continental Africa – Mali

Mali

Regional overview

AngloGold Ashanti has interests in three operations in the west African country of Mali – Sadiola (41%), Yatela (40%) and

Morila (40%). The Sadiola and Yatela operations are managed by AngloGold Ashanti, while Randgold Resources Limited

manages Morila.

Mineral Resource and Ore Reserve gold price

Units

2009

2008

Gold price – Mineral Resource

US$/oz

1,025

1,000

Gold price – Ore Reserve

US$/oz

700-880

720-870

Mineral Resource estimation

The Mineral Resource is taken as the material that falls within the $1,025/oz economic shell optimised for each individual

deposit. A 3D surface is generated to create the outline of the geological model. This model is then used as a prototype model

to estimate grades. Block sizes are between 25m x 25m x 10m and 30m x 30m x 10m (X Y Z) and where appropriate,

selective sub-celling is used for definition on the geological and mineralisation boundaries. All the deposits have kriged block

models and where appropriate, a geostatistical technique called uniform conditioning is used to estimate the proportion of

economic ore that occurs above the cut-off and this is reported according to the dimensions of the practical mining unit.

Details of average drillhole spacing and type in relation to Mineral Resource classification

Type of drilling

Mine/

Spacing

Diamond

Blast-

Other

Comments

Project

Category

m (- x -)

hole

Morila

Measured

–

Processing stockpiles – grades

Indicated

–

are based on historic drilling

Inferred

–

Grade control –

–

Sadiola

Measured

25 x 25

–

Indicated

25 x 25,

–

30 x 30,

–

35 x 35, and

–

25 x 50

–

Inferred

25 x 50,

–

25 x 50, and

–

50 x 50

–

Grade control 5 x 10

–

Yatela

Measured

10 x 10, and

–

25 x 25

–

Indicated

25 x 25, and

–

35 x 45

–

Inferred

50 x 50

–

Grade control 5 x 10, and

–

10 x 10

–

Ore Reserve estimation

The Mineral Resource models are used as the basis for the Ore Reserve. Pit optimisation is done using Whittle

software.

The typical Whittle approach for a mill-constrained operation is followed. Optimisations are run on Measured and Indicated
Mineral Resource and Measured, Indicated and Inferred Mineral Resource. All appropriate costs, metallurgical recovery
factors and geotechnical parameters are applied to generate the final Ore Reserve.

Ore Reserve modifying factors

as at 31 December 2009

Mine call

Metal-

Cut-off

factor

lurgical

weighted

RRF

MRF

(MCF) recovery

Mine

g/t

Comments

Morila
Stockpile

1.40

–

100

89.0

Cut-off grades based on cut-off grade

(full grade ore)

used for stockpiling

Stockpile

1.00

–

100

88.8

Cut-off grades based on cut-off grade

(marginal ore)

used for stockpiling

Sadiola
Deep Sulphides

0.72

100

93.0

Hard oxide COG 0.82g/t Saprolite oxide

(oxides)

COG 0.63g/t

Deep Sulphides

0.98

100

80.0

Hard sulphide COG 1.02g/t Saprolite

(sulphides)

sulphide COG 0.95g/t

FE3

1.00

101.5

95.0

Metal factors shown here

FE4

1.00

101.5

95.0

Metal factors shown here

Main Pit (oxide)

1.00

100

100.0

Small remnants remain to be mined in
early 2010

Total stockpiles

–

100

102

88.3

Metal factors shown here

Yatela
Alamoutala Pit

0.75

100

84.8

Factors were not applied to Alamoutala

Main Pit

0.60

100

84.8

Factors applicable to the metal

Total stockpiles

0.65

–

84.8

Factors are not applied to the stockpile
material

Continental Africa – Mali

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Continental Africa – Mali – Morila

Mali – Morila

Location

The Morila mine is situated some 280km by road south-east of Bamako, the capital city of Mali. The mine is operated by

Morila SA, a joint venture company incorporating Randgold Resources Ltd (40%), Anglogold Ashanti Ltd (40%), and the

Government of Mali (20%). Randgold Resources took over the operation of Morila mine from Anglogold Ashanti Ltd in

February 2008.

Mining

The Morila open-pit activities were successfully completed in April 2009. Consequently the main mining activity for the rest of

the mine life will be rehandling already mined stockpiles at a rate of 4.2Mtpa using a core and backup fleet comprising two

hydraulic excavators, two CAT 990 front-end loaders and seven Caterpillar 777 dump trucks.

Geology

The Morila orebody is located predominantly in metasediments within a broad north-north-west-trending corridor of shearing.

This shear zone has both near vertical and flat lying components. It is interpreted as being a second order shear off the main

Banafin shear, approximately 25km to the east. The Doubalakoro granite pluton bounds the sediments to the west and the

Massigui granite to the east. The deposit occurs within a sequence of amphibolites facies metamorphosed Birimian meta-

sediments. Gold mineralisation is associated with silica feldspar alteration and the sulphide minerals arsenopyrite, pyrrhotite,

and pyrite (with minor chalcopyrite).

Processing

Ore is processed at a rate of 4.2Mtpa via a conventional CIL plant after passing through primary and secondary crushing

processes followed by further comminution via a semi-autogenous grinding (SAG) mill and ball mill. After milling and

classification, the slurried ore passes through the cyanide leach circuit for gold extraction after which the leached ore is

pumped and deposited into the tailings storage facility (TSF). Supernatant water from the TSF is reclaimed and collected in

the return water dam before being returned to the mill for re-use.

Mineral Resource (attributable)

as at 31 December 2009

Contained

Tonnes

Grade

gold

Morila

Category

million

g/t

tonnes

Moz

Stockpile (full grade ore)

Measured

3.94

1.74

6.85

0.22

Indicated

–

Inferred

–

Total

3.94

1.74

6.85

0.22

Stockpile (marginal ore)

Measured

2.76

1.14

3.14

0.10

Indicated

–

Inferred

0.38

0.81

0.31

0.01

Total

3.14

1.10

3.44

0.11

Morila

Total

7.08

1.45

10.29

0.33

Exclusive Mineral Resource

as at 31 December 2009

Contained

Tonnes

Grade

gold

Morila

Category

million

g/t

tonnes

Moz

Measured

–

Indicated

–

Inferred

0.38

0.81

0.31

0.01

Morila

Total

0.38

0.81

0.31

0.01

Exclusive Mineral Resource

The Exclusive Mineral Resource is comprised of stockpiles below the current processing cut-off and stockpiles with diluted

boundary limits.

Ore Reserve

as at 31 December 2009

Contained

Tonnes

Grade

gold

Morila

Category

million

g/t

tonnes

Moz

Stockpile (full grade ore)

Proved

3.94

1.74

6.85

0.22

Probable

–

Total

3.94

1.74

6.85

0.22

Stockpile (marginal ore)

Proved

–

Probable

2.76

1.14

3.14

0.10

Total

2.76

1.14

3.14

0.10

Morila

Total

6.70

1.49

9.99

0.32

Competent persons

Professional

Registration

Relevant

Category

Name

organisation

number

experience

Mineral Resource

A Kone

AusIMM

222568

17 years

Ore Reserve

S Ndede

AusIMM

201772

20 years

Continental Africa – Mali – Morila

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Morila: Mineral Resource reconciliation

2008 vs 2009

Ounces (millions)

0.46

2008

-0.14

Depletion

0.01
Gold

price

-0.01

Exploration

0.01

Metho-

dology

0.33

2009

0.00
Cost

0.00

0.01

Other

0.50

0.10

0.40

0.20

0.30

Morila: Ore Reserve reconciliation

2008 vs 2009

Ounces (millions)

0.46

2008

-0.16

Depletion

-0.01

Model

Change

0.00
New

ounces

from

projects

0.02

Scope

Change

0.32

2009

0.00

Change in

Economics

0.00

0.01

Other

0.40

0.50

0.20

0.30

0.10

Change

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Continental Africa – Mali – Sadiola

Mali – Sadiola

Location

Sadiola is situated in the north-west of Mali, 77km to the south of the regional capital of Kayes. The mining operations take

place in five open pits, the Sadiola main pit and four satellite pits, namely FE3 pits 1 to 3 and pit FE4.

Ore is treated in a 4.8Mtpa CIP processing plant. The plant was originally designed to treat soft oxide ore, but has been

progressively adapted to receive soft sulphide ores and even some types of hard oxide ores.

The down dip extension of the mineralisation mined in the Sadiola main pit has been named the Deep Sulphides Project (DSP),

in which the gold ore occurs in the underlying fresh rock. A full feasibility study of the DSP is scheduled for completion in 2010.

The project may substantially extend the life of Sadiola’s operations and leverage exploration efforts and further discoveries of

hard-rock gold deposits in the district.

Geology

The Sadiola deposits are located within the Malian portion of the Keniéba-Kedougou window, a major early Proterozoic-

Birimian outlier along the north-east margin of the Kenema-Man shield. The deposits are confined to the north portion of

the window.

The Sadiola Hill deposit is underlain by the north-trending Sadiola Fracture Zone (SFZ), over a drilled strike length of

approximately 2,500m, running along the contact of marbles and greywackes and intruded by bodies of diorite and

quart-feldspar porphyries. North-east trending structures, often intruded by quartz-feldspar porphyries, extending to the east

of the SFZ, also carry gold. The mineralised zones have been intensely weathered to a maximum depth of 200m.

The Sadiola Hill deposit originally consisted of two zones, an upper oxidised cap and an underlying sulphide zone. From 1996

until 2002, shallow saprolite oxide ore was the primary ore source. Since 2002, the deeper saprolitic sulphide ore has been

mined, progressively replacing the depleted oxide Ore Reserve.

The satellite pits are located to south-east of the Sadiola Hill mine and are underlain by different lithologies. The mineralised

zones straddle the contact between marbles to the west and carbon-rich pelites to the east, following a north-north-west-

trend in the FE3 pits 1 and 2, north-north-east at pit 3, and a north-east-strike in FE4 pit, due to regional folding. Gold

mineralisation is mostly associated with lens-shaped breccia zones running broadly parallel to the enclosing metasediments

and folded accordingly.

At this stage all the gold is recovered from mostly soft, oxidised ore from the satellite pits. Some gold-rich, hard oxide nodes

have been also treated in the Sadiola plant, after first stage crushing.

Mineral Resource (attributable)

as at 31 December 2009

Contained

Tonnes

Grade

gold

Sadiola

Category

million

g/t

tonnes

Moz

Deep Sulphides

Measured

0.03

2.26

0.06

0.00

Indicated

24.48

1.89

46.15

1.48

Inferred

14.96

1.80

26.97

0.87

Total

39.46

1.85

73.19

2.35

FE2

Measured

–

Indicated

–

Inferred

0.83

1.36

1.13

0.04

Total

0.83

1.36

1.13

0.04

Mineral Resource (attributable) cont.

as at 31 December 2009

Contained

Tonnes

Grade

gold

Sadiola

Category

million

g/t

tonnes

Moz

FE3

Measured

–

Indicated

2.90

1.99

5.76

0.19

Inferred

0.18

2.88

0.52

0.02

Total

3.08

2.04

6.28

0.20

FE4

Measured

–

Indicated

1.16

2.18

2.53

0.08

Inferred

0.64

2.09

1.34

0.04

Total

1.80

2.14

3.87

0.12

FN2

Measured

–

Indicated

0.23

1.51

0.34

0.01

Inferred

0.28

4.01

1.12

0.04

Total

0.50

2.89

1.46

0.05

FN3

Measured

–

Indicated

0.04

1.71

0.07

0.00

Inferred

0.64

1.30

0.84

0.03

Total

0.69

1.32

0.91

0.03

Main pit (oxide)

Measured

0.03

1.97

0.06

0.00

Indicated

3.89

1.31

5.10

0.16

Inferred

0.38

1.21

0.46

0.01

Total

4.30

1.30

5.61

0.18

Main pit (transitional)

Measured

0.01

3.28

0.02

0.00

Indicated

1.34

1.92

2.59

0.08

Inferred

0.09

1.71

0.15

0.00

Total

1.44

1.92

2.76

0.09

Sadiola – total stockpiles

Measured

10.15

1.47

14.97

0.48

Indicated

–

Inferred

–

Total

10.15

1.47

14.97

0.48

Sekokoto

Measured

–

Indicated

–

Inferred

0.59

1.50

0.89

0.03

Total

0.59

1.50

0.89

0.03

Tambali South

Measured

–

Indicated

2.38

1.30

3.09

0.10

Inferred

1.73

1.53

2.64

0.08

Total

4.11

1.39

5.73

0.18

Sadiola

Total

66.97

1.74

116.80

3.76

Continental Africa – Mali – Sadiola

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Exclusive Mineral Resource

as at 31 December 2009

Contained

Tonnes

Grade

gold

Sadiola

Category

million

g/t

tonnes

Moz

Measured

4.64

0.75

3.46

0.11

Indicated

19.47

1.53

29.88

0.96

Inferred

20.32

1.77

36.06

1.16

Sadiola

Total

44.44

1.56

69.40

2.23

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Sadiola – total mag intensity 2009 data

Continental Africa – Mali – Sadiola

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Exclusive Mineral Resource

The Exclusive Mineral Resource for the Sadiola pits is the Mineral Resource that is outside the current Ore Reserve designs

but inside the Mineral Resource shells. Any Inferred Mineral Resource within the design shells is also reported in the Exclusive

Mineral Resource. Unless the gold price increases and the costs are favourable, only the Inferred Mineral Resource portion of

the Mineral Resource within the LOM shell will be converted to the Ore Reserve through grade control drilling.

FE3 has Inferred Mineral Resource in the published Mineral Resource and therefore the only possibility for converting the

Exclusive Mineral Resource to the Proved Ore Reserve is through favourable gold price and cost changes. The FE3 pit has

27% of Inferred Mineral Resource within the design shell and FE4 has 86%.

The FE3 Inferred Mineral Resource can be upgraded into Ore Reserve by normal grade control drilling. For FE4, infill drilling

has been completed and the FE4 Mineral Resource model will be revised in the first quarter of 2010. Updating the models for

FE4 may lead to an increase in Ore Reserve. For the Main Pit, the feasibility study of the DSP will be completed in the

4th quarter of 2010.

Sadiola: Ore Reserve reconciliation

2008 vs 2009

Ounces (millions)

0.45

2008

-0.15

Depletion

0.00

Model

Change

0.93
New

ounces

from

projects

0.01

Scope

Change

1.46

2009

-0.00

Change in

Economics

0.22

Other

Sadiola: Mineral Resource reconciliation

2008 vs 2009

Ounces (millions)

3.38

2008

-0.15

Depletion

0.08
Gold

price

0.00

Exploration

0.57

Metho-

dology

3.76

2009

0.29
Cost

-0.42
Other

Change

0.00

1.00

2.00

4.50

4.00

3.50

2.50

3.00

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Ore Reserve

as at 31 December 2009

Contained

Tonnes

Grade

gold

Sadiola

Category

million

g/t

tonnes

Moz

Deep sulphides (oxides)

Proved

–

Probable

1.51

1.45

2.20

0.07

Total

1.51

1.45

2.20

0.07

Deep sulphides (sulphides)

Proved

–

Probable

12.14

2.20

26.69

0.86

Total

12.14

2.20

26.69

0.86

FE3 Proved

–

Probable

1.73

2.47

4.27

0.14

Total

1.73

2.47 4.27

0.14

FE4

Proved

–

Probable

0.80

2.46

1.98

0.06

Total

0.80

2.46

1.98

0.06

Main pit (oxide)

Proved

–

Probable

0.01

2.67

0.04

0.00

Total

0.01

2.67

0.04

0.00

Total stockpiles

Proved

4.10

2.47

10.14

0.33

Probable

–

Total

4.10

2.47

10.14

0.33

Sadiola

Total

20.30

2.23

45.32

1.46

Inferred Mineral Resource in pit optimisation

The Inferred Mineral Resource was used in the pit optimisation process and 0.95Moz are present in the optimised pit, of which

0.23Moz are included in the final production schedule. This includes the DSP and satellite pits.

Exploration

The philosophy underpinning the future programme is that at mine closure, the full potential of the two leases will have

been exploited.

The exploration strategy is twofold:

•

there was a narrow window of opportunity of 18 months for a focused exploration programme on oxide material from

March 2009 to July 2010 to fit into the current LOM estimate; and

•

testing sulphide targets as a complementary strategy, aimed at adding soft sulphide ounces to the Sadiola plant and hard

sulphide Mineral Resource to the DSP.

Projects:

There are currently two projects under consideration:

•

The DSP is the most advanced, with a board-approved feasibility study due for completion in September 2010.

•

Low-grade project: if costs can be decreased by up to 20%, it will allow the Sadiola plant to treat lower grade ore, with the

result that the ore can be mined at a lower cut-off with a higher throughput.

Continental Africa – Mali – Sadiola

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Competent persons

Professional

Registration

Relevant

Category

Name

organisation

number

experience

Mineral Resource

Mark Kenwright

AusIMM

302344

14 years

Ore Reserve

Karol Bartsch

AusIMM

107390

21 years

Sadiola – surface (metric)

Tonnes above
cut-off (millions)

0.00

Cut-off grade (g/t)

5.00

Average grade
above cut-off (g/t)

2.00

3.00

4.00

0.0

150.0

50.0

100.0

125.0

75.0

25.0

1.00

0.5

7.5

5.5

3.5

6.5

4.5

2.5

1.5

Tonnes above cut-off

Ave grade above cut-off

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Continental Africa – Mali – Yatela

Mali – Yatela

Location

Yatela mine is situated some 25km north of Sadiola and approximately 50km south-west of Kayes. The Yatela operation is

currently mining from two open pits, the Yatela main pit and the satellite Alamoutala pits. The Yatela main pit is currently mining

Pushback 7, toward the western end of the pit and the mine is approaching the end of its life.

Ore is processed through a 3.0Mtpa heap leach plant, commissioned in 2000. The pregnant liquor pond for gold recovery

uses the carbon in solution process. Loaded carbon is sent to Sadiola for elution, regeneration, electro-winning and smelting.

Geology

The Yatela deposit is located within the Malian portion of the Keniéba-Kedougou window, a major Early Proterozoic-Birimian

outlier along the north-east margin of the Kenema-Man shield.

The Yatela deposit is located in the north of the window and is hosted by sediments of the Kofi Formation, which have

been intruded by numerous felsic intrusives. The sediments consist of fine-grained greywacke, pelites that are locally carbon-rich,

and impure limestones with minor tuffs and acid volcanics.

The primary gold mineralisation at Yatela is associated with a sheared contact between predominantly dolomitic rocks of the

Kofi Formation to the west and a large, weakly mineralised, dioritic intrusion to the east. This primary mineralisation was

concentrated to economic grades through dissolution of carbonate-rich rocks by supergene processes. Karsting of carbonate

rocks has resulted in the development of deep, coalescent pot holes, collectively named the Yatela Basin, which were

gradually filled by sandstones and conglomerates during peneplanation of the Proterozoic rocks. The chaotic collapse during

karsting, coupled with the infill sediments resulted in the orebody being hosted in a melange-type of rocks made up of

sedimentary rocks and dissolution residues. Gold is disseminated in the unconsolidated ferruginous, sandy-clayed layer that

lines the bottom and walls of a deep trough with steep margins. The ore zone dips steeply on the west wall and more gently

to the west on the east wall, following a keel-like geometry with tight closure towards the south. The supergene enrichment

of low-grade primary gold mineralisation, associated with the karst forming process, is the most important geological feature

to the economics of the Yatela deposit.

In the Alamoutala pits, the gold mineralisation is mined from the saprolitised marbles and karstic rocks in the south, and from

weathered Birimian rocks to the north. The Alamoutala area is underlain by north-trending Birimian clastic metasediments and

calcitic marbles, which are intruded by a coarse grained granodiorite body. Gold mineralisation is found along an intermittently

sheared and fractured contact, named the Alamoutala Fracture Zone, between the metaclastics and the carbonate units.

These rocks have locally been strongly biotite- and feldspar-altered. High-grade gold mineralisation is also hosted in

magnetite-bearing, skarn-like calc-silicate rocks along the contact with the granodiorite intrusive.

Exploration

The key philosophy underpinning the programme is one of ‘no regrets’; at mine closure the full potential of the lease will have

had an opportunity to have been exploited. The exploration strategy has a narrow window of opportunity due to the limited

life of mine. An 18-month focused exploration programme, which started in March 2009, is currently underway, with the aim of:

•

focusing on oxide targets;

•

drill testing the gravity lows on top of marbles for Yatela-type deposits; and

•

testing sulphide targets as a complementary strategy, aimed at adding soft sulphide ounces to the Sadiola plant and hard

sulphide resources to the DSP.

Continental Africa – Mali – Yatela

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Projects

The ongoing exploration programme as well as possible partnerships with nearby lease holders may result in additional

Ore Reserves.

In August 2009, mining in the Yatela pit was suspended for a month due to geotechnical issues. In light of the mining

suspension, the economics of reopening the Alamoutala pit were reviewed. The Alamoutala $880/oz pit shell showed a

profitable return, and mining began during August. Additional drilling within and adjacent to the Alamoutala pit highlighted a

likely area south of the existing pit to continue mining to January 2010.

Additional drilling both within and south-east of the existing Yatela pit shows similar promise. Both areas were evaluated during

December and final decisions will be made in 2010.

Mineral Resource (attributable)

as at 31 December 2009

Contained

Tonnes

Grade

gold

Yatela

Category

million

g/t

tonnes

Moz

Alamoutala pit

Measured

0.04

1.03

0.04

0.00

Indicated

0.00

1.65

0.00

Inferred

0.00

1.00

0.00

Total

0.04

1.05

0.05

0.00

Main pit

Measured

0.18

1.97

0.35

0.01

Indicated

0.80

2.71

2.16

0.07

Inferred

0.19

3.10

0.57

0.02

Total

1.16

2.66

3.09

0.10

Total stockpiles

Measured

1.20

1.14

1.37

0.04

Indicated

–

Inferred

–

Total

1.20

1.14

1.37

0.04

Yatela

Total

2.41

1.85

4.50

0.14

Exclusive Mineral Resource

as at 31 December 2009

Contained

Tonnes

Grade

gold

Yatela

Category

million

g/t

tonnes

Moz

Measured

0.22

1.79

0.39

0.01

Indicated

0.80

2.71

2.17

0.07

Inferred

0.19

3.10

0.57

0.02

Yatela

Total

1.20

2.60

3.13

0.10

Exclusive Mineral Resource

The Exclusive Mineral Resource for Yatela is that Mineral Resource that falls outside the current LOM but inside the Mineral

Resource shells for the Yatela main and Alamoutala pits. Any Inferred Mineral Resource within the LOM shell is also considered

Exclusive. Currently, only the Inferred Mineral Resource within the LOM shell at the Yatela main pit is convertible to Ore Reserve

and this will be done through grade control drilling. In addition, the Yatela main pit will also be optimised in order to ensure

that all recoverable material is mined before the envisaged closure.

The Alamoutala Mineral Resource was depleted to the LOM shell in 2005. However, considering the increase in the gold price

since then, there is a realistic possibility that additional mining will be conducted here in 2010.

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Ore Reserve

as at 31 December 2009

Contained

Tonnes

Grade

gold

Yatela

Category

million

g/t

tonnes

Moz

Total stockpiles

Proved

1.20

1.14

1.37

0.04

Probable

–

Yatela

Total

1.20

1.14

1.37

0.04

Competent persons

Professional

Registration

Relevant

Category

Name

organisation

number

experience

Mineral Resource

Mark Kenwright

AusIMM

302344

14 years

Ore Reserve

Karol Bartsch

AusIMM

107390

21 years

Yatela: Mineral Resource reconciliation

2008 vs 2009

Ounces (millions)

0.35

2008

-0.08

Depletion

0.01
Gold

price

0.00

Exploration

-0.02

Metho-

dology

0.14

2009

0.00
Cost

0.00

-0.10
Other

0.15

0.30

Yatela: Ore Reserve reconciliation

2008 vs 2009

Ounces (millions)

0.16

2008

-0.13

Depletion

0.00

Model

Change

0.00
New

ounces

from

projects

-0.02

Scope

Change

0.04

2009

0.02

Change in

Economics

0.00

0.01

Other

0.20

0.10

Change

Yatela – surface (metric)

T
onnes above cut-of

f (millions)

0.00

Cut-off grade (g/t)

5.00

verage grade above cut-of

f (g/t)

Tonnes above cut-off

Ave grade above cut-off

2.0

3.0

4.0

1.00

0.0

14.0

6.0

4.0

2.0

8.0

10.0

12.0

0.0

10.0

4.0

6.0

8.0

2.0

Continental Africa – Tanzania

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

100

Tanzania

Geita is the largest of AngloGold Ashanti’s seven open-pit mines in Africa. Prior to April 2004, Geita was managed under the

joint venture agreement between Ashanti and AngloGold. Since the merger of the two companies, Geita is now a wholly-

owned subsidiary.

Mineral Resource estimation

As with any estimation techniques the results are very dependent upon the data quality and availability. The geological model

is a critical input to the Mineral Resource estimation process. The orebody boundaries for the individual deposits are defined

from the detailed logging of all geological boreholes and after validation this information is used to create a three dimensional

model. This model is subsequently populated with an appropriately dimensioned block model. The size of this block model is

determined by analysing different block sizes in relation to the variance of the blocks. A block size which gives an optimal

variance is then chosen. Ordinary kriging is used to interpolate values into the blocks. A geostatistical technique called uniform

conditioning is then used to estimate the proportion of economic ore that occur above the Mineral Resource cut-off and this

is reported according to the SMU.

Mineral Resource and Ore Reserve gold price

Units

2009

2008

Gold price – Mineral Resource

US$/oz

1,025

1,000

Gold price – Ore Reserve

US$/oz

800

720

Details of average drillhole spacing and type in relation to Mineral Resource classification

Type of drilling

Mine/

Spacing

Diamond

Blast-

Other

Comments

Project

Category

m (- x -)

hole

Geita

Measured

–

Indicated

20 x 20, and

–

40 X 40m is the lower limit of the

40 x 40

–

Indicated category. Infill drilling at

20 X 20m is done to increase the

confidence in the Mineral Resource.

Inferred

50 x 50, and

–

50 x 80

–

Grade control 5 x10

–

10 x 10

–

Ore Reserve estimation

The Mineral Resource models as produced by the geology department are used as the basis for the Ore Reserve. Appropriate

mining dilution is used as a modifying factor in the Ore Reserve conversion process. Appropriate Ore Reserve cut-off grades

are applied and optimised pit shells are generated taking into cognisance the economic parameters. The final pits are then

designed taking into consideration the optimised pit shell and recommended slope geometry.

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

101

Ore Reserve modifying factors

as at 31 December 2009

Mine call

Metal-

Cut-off

factor

lurgical

weighted

RRF

MRF

(MCF) recovery

Mine

g/t

Comments

Geita
Area 3 West

1.67

80.6

RRF and MRF grade factors shown;

(non-refractory ore)

tonnage factors – MRF 102%, RRF 102%

Area 3 West

2.33

58.7

As above

(refractory ore)

Chipaka

1.85

78.1

As above

Geita Hill (open pit)

1.39

100

81.1

RRF and MRF grade factors shown;
tonnage factors – MRF 100%, RRF 110%

Kukuluma

1.76

75.2

RRF and MRF grade factors shown;

(non-refractory ore)

tonnage factors – MRF 102%, RRF 102%

Kukuluma 3.09

46.2

above

(refractory ore)

Lone Cone

1.32

86.1

As above

Matandani 1.58

82.5

above

(non-refractory ore)

Matandani 2.44

57.8

above

(refractory ore)

Nyankanga

1.29

89.3

RRF and MRF grade factors shown;

(open pit)

tonnage factors – MRF 101%, RRF 105%

Ridge 8 (open pit)

1.53

85.1

As above

Roberts

1.53

89.0

As above

Star and Comet

1.54

84.4

RRF and MRF grade factors shown;
tonnage factors – MRF 105%, RRF 110%

Stockpile

1.50

100

85.0

RRF and MRF grade factors shown;
tonnage factors – MRF 102%, RRF 102%

Stockpile (marginal ore)

0.80

100

85.0

Stockpile (refractory ore)

2.40

100

52.0

5km

Geita – aeromagnetics 2009 total field

Continental Africa – Tanzania – Geita

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

102

Tanzania – Geita

Location

The Geita gold mine is located approximately 910km west of Dar es Salaam in the Lake Zone of northern Tanzania. The

tenement is situated within the Sukumaland Greenstone Belt of the Lake Victoria goldfields which hosts other gold mines

including Golden Pride, Bulyanhulu, Tulawaka and North Mara. This geological terrain is considered to be one of the most

productive Archaean Greenstone Belts in East Africa. Mining at Geita is undertaken by standard open-pit mining methods.

Geology

The Geita Greenstone trend is a component of the Sukumaland Greenstone Belt; it strikes east-west, is 60km long and up to

15km wide. The terrain is made up of upper to mid-Nyanzian greenstone facies rocks, mainly clastic sediments, intermediate

to felsic volcanoclastics and Banded Iron Formation (BIF) that forms a sedimentary sequence up to 1,000m thick.

In the mine lease area, north-west trending deformation corridors separate the Geita Greenstone trend into three distinct

sub-terrains. Namely, Nyamulilima in the west (hosting the Star and Comet, Ridge 8, and Roberts deposits), Geita in the

central part (hosting the Nyankanga, Geita Hill, Lone Cone, and Chipaka deposits) and Kukuluma to the north-east (hosting

the Matandani, Kukuluma, and Area 3 West deposits). Approximately 83% of this Mineral Resource is situated in the Geita

Sub-Terrain, with 13% in the Nuyamulilima Sub-Terrain, and 4% in the Kukuluma Sub-Terrain.

Late dextral faults have utilised these corridors, reactivating the pre-existing fault systems. Gold mineralisation and

hydrothermal alteration of the host lithologies, on all scales, is associated with late stage ductile to brittle-ductile deformation.

Exploration

As part of the risk mitigation strategy, securing Mineral Resource ounces for the period 2011 to 2013 is the primary focus of

Geita’s exploration drilling programmes. To this end, infill drilling, leading to Mineral Resource model revisions in 2009, has

occurred at Star and Comet and Nyankanga Cuts 5 and 6. Infill drilling began at Nyankanga Cut 7 and Geita Hill Cut 1 in the

fourth quarter of 2009 and the Mineral Resource models for these deposits will be revised in the first quarter of 2010.

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

103

The focus of the mine’s regional exploration program in 2009 and 2010 is relatively low level work involving mostly ground

geophysics, structural analysis, and preliminary drilling to follow up on the targets identified during the 2008 airborne

geophysics surveys. The result of these surveys will be the development of drill targets for 2011 onward.

Projects

With approximately 58% of the Kukuluma Sub-Terrain Mineral Resource comprising refractory ore, currently not economically

treatable in the Geita treatment plant, a metallurgical project has been initiated to determine a treatment method for this

material. Success in this regard could significantly increase the potential of the Mineral Resource extension below the

Kukuluma and Matandani open pits.

With 3.6Moz of Mineral Resource potentially exploitable by underground mining methods, Geita has begun an underground

mining project to convert this Mineral Resource to Ore Reserve. In 2009, the focus of this project has been the Nyankanga

underground area, which is the most economically viable. The strategy has been to evaluate the eastern, “near surface” portion

of the project area and investigate whether it would support a pilot underground mining implementation aimed at paying for

additional underground exploration development, proving up the predominantly Inferred underground Mineral Resource and

firming up on the eventual mining method to be employed. This project, known as “Block 1”, has been shown to be

economically viable and will be infilled in the first quarter of 2010 to increase the confidence in the current Mineral Resource

prior to implementation of the pilot study.

To facilitate the underground mining project, the mine has generated a 3D geological model of the Geita Trend that will

amalgamate structure and mineralogy so as to optimise the definition of underground Mineral Resource extensions. The

diamond drill core from the Nyankanga Cut 7 and Block 1 infill programmes will be used to enhance this model, which is

expected to be completed by the end of 2010.

150m

East section +50085.18

Plunge +05, Azimuth 112

Nyankanga – east section

Continental Africa – Tanzania – Geita

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

104

Mineral Resource (attributable)

as at 31 December 2009

Contained

Tonnes

Grade

gold

Geita

Category

million

g/t

tonnes

Moz

Area 3 West (oxide)

Measured

–

Indicated

0.86

2.45

2.10

0.07

Inferred

0.00

2.02

0.01

0.00

Total

0.86

2.45

2.10

0.07

Area 3 West (sulphide)

Measured

–

Indicated

0.08

3.22

0.27

0.01

Inferred

–

Total

0.08

3.22

0.27

0.01

Chipaka

Measured

–

Indicated

1.71

2.69

4.60

0.15

Inferred

–

Total

1.71

2.69

4.60

0.15

Geita Hill (open pit)

Measured

–

Indicated

17.64

2.88

50.79

1.63

Inferred

0.14

2.64

0.37

0.01

Total

17.78

2.88

51.15

1.64

Geita Hill (underground)

Measured

–

Indicated

6.36

4.90

31.17

1.00

Inferred

3.27

5.19

16.96

0.55

Total

9.63

5.00

48.13

1.55

Kalondwa hill

Measured

–

Indicated

–

Inferred

1.08

3.69

4.00

0.13

Total

1.08

3.69

4.00

0.13

Lone Cone

Measured

–

Indicated

0.71

2.59

1.84

0.06

Inferred

0.24

2.24

0.54

0.02

Total

0.95

2.50

2.38

0.08

Matandani (non-refractory ore)

Measured

–

Indicated

1.23

2.26

2.77

0.09

Inferred

0.00

9.12

0.03

0.00

Total

1.23

2.28

2.80

0.09

Matandani (refractory ore)

Measured

–

Indicated

1.69

4.64

7.85

0.25

Inferred

0.05

5.46

0.27

0.01

Total

1.74

4.66

8.12

0.26

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

105

Mineral Resource (attributable) cont.

as at 31 December 2009

Contained

Tonnes

Grade

gold

Geita

Category

million

g/t

tonnes

Moz

Nyankanga (open pit)

Measured

–

Indicated

30.35

4.05

122.93

3.95

Inferred

2.54

1.68

4.25

0.14

Total

32.89

3.87

127.18

4.09

Nyankanga (underground)

Measured

–

Indicated

6.62

5.28

34.96

1.12

Inferred

1.37

5.15

7.05

0.23

Total

7.99

5.26

42.01

1.35

Ridge 8 (open pit)

Measured

–

Indicated

1.59

2.12

3.38

0.11

Inferred

0.01

1.23

0.01

0.00

Total

1.61

2.11

3.40

0.11

Ridge 8 (underground)

Measured

–

Indicated

0.98

4.97

4.84

0.16

Inferred

1.82

6.04

10.98

0.35

Total

2.79

5.67

15.83

0.51

Roberts

Measured

–

Indicated

6.62

1.64

10.84

0.35

Inferred

0.30

4.19

1.27

0.04

Total

6.93

1.75

12.11

0.39

Star and Comet

Measured

–

Indicated

3.72

4.16

15.47

0.50

Inferred

2.19

3.14

6.88

0.22

Total

5.92

3.78

22.35

0.72

Stockpile (full grade ore)

Measured

–

Indicated

1.67

2.03

3.38

0.11

Inferred

–

Total

1.67

2.03

3.38

0.11

Stockpile (marginal ore)

Measured

–

Indicated

4.62

0.85

3.94

0.13

Inferred

–

Total

4.62

0.85

3.94

0.13

Stockpile (refractory ore)

Measured

–

Indicated 1.26

1.85

2.33

0.08

Inferred

–

Total

1.26

1.85

2.33

0.08

Geita

Total

100.73

3.54

356.10

11.45

Continental Africa – Tanzania – Geita

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

106

Exclusive Mineral Resource

as at 31 December 2009

Contained

Tonnes

Grade

gold

Geita

Category

million

g/t

tonnes

Moz

Measured

–

Indicated

43.22

3.21

138.72

4.46

Inferred

13.03

4.04

52.63

1.69

Geita

Total

56.24

3.40

191.35

6.15

Exclusive Mineral Resource

The Exclusive Mineral Resource at Geita totals 6.15Moz and comprises predominantly Mineral Resource that occurs between
the Ore Reserve pit shell and the Mineral Resource pit shell. This material is sub economic to mine at the current Ore Reserve
gold price and forms potential extensions to the LOM in an elevated gold price environment. A significant portion of this
material is in the Inferred Mineral Resource category and infill drilling programs are planned to upgrade potentially economic
areas to Indicated Mineral Resource.

The Exclusive Mineral Resource forming part of the mine’s business plan comprises approximately 0.5Moz from underground
extensions to the Nyankanga open pit and 0.067Moz from Inferred material located within the design pits. While the economic
viability of the in-pit material is known, scoping and pre-feasibility studies are currently in progress to determine the economic
viability of the underground material. As part of these studies, exploration drives and infill drilling are planned to upgrade the
confidence category of the Mineral Resource.

In instances where the orebody extends down dip, below the current LOM design pit shell and could potentially be exploited
by underground mining methods, a 35m crown pillar forms part of the Exclusive Mineral Resource below the open pit limits.
This material is not planned to be mined.

Inferred Mineral Resource in pit optimisation

No Inferred Mineral Resource is included in the pit optimisation exercise. Although it does not contribute to the economic
assessment of the optimised pit, because it is “switched-off” during the optimisation runs, it is present within the final pit shell
as Exclusive Resource. The magnitude of this Inferred material is quantified below:

Inferred material in $800 pitshell

Deposit

Gold (Moz)

Nyankanga

0.059

Geita Hill

0.005

Star and Comet

0.002

Area 3 West

0.000

Total

0.066

Geita: Mineral Resource reconciliation

2008 vs 2009

Ounces (millions)

12.86

2008

-0.56

Depletion

0.03
Gold

price

0.17

Exploration

-0.72

Metho-

dology

11.45

2009

-0.32

Cost

10.00

-0.02
Other

11.00

13.00

12.00

Geita: Ore Reserve reconciliation

2008 vs 2009

Ounces (millions)

5.11

2008

-0.31

Depletion

0.53

Model

Change

0.00
New

ounces

from

projects

0.20

Scope

Change

5.07

2009

-0.46

Change in

Economics

4.00

-0.02
Other

4.50

5.50

5.00

Change

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

107

Ore Reserve

as at 31 December 2009

Contained

Tonnes

Grade

gold

Geita

Category

million

g/t

tonnes

Moz

Area 3 West (non-refractory ore)

Proved

–

Probable

0.48

2.40

1.15

0.04

Total

0.48

2.40

1.15

0.04

Geita Hill (open pit)

Proved

–

Probable

15.24

2.65

40.39

1.30

Total

15.24

2.65

40.39 1.30

Nyankanga (open pit)

Proved

–

Probable

23.49

4.07

95.54

3.07

Total

23.49

4.07

95.54

3.07

Ridge 8 (open pit)

Proved

–

Probable

0.71

2.55

1.82

0.06

Total

0.71

2.55

1.82

0.06

Roberts

Proved

–

Probable

2.26

1.71

3.88

0.12

Total

2.26

1.71

3.88

0.12

Star and Comet

Proved

–

Probable

2.50

4.17

10.44

0.34

Total

2.50

4.17

10.44

0.34

Stockpile (full grade ore)

Proved

–

Probable

1.67

2.03

3.38

0.11

Total

1.67

2.03

3.38

0.11

Stockpile (marginal ore)

Proved

–

Probable

1.00

0.96

0.97

0.03

Total

1.00

0.96

0.97

0.03

Geita

Total

47.36

3.33

157.57

5.07

Competent persons

Professional

Registration

Relevant

Category

Name

organisation

number

experience

Mineral Resource

Steven Robins

AusIMM

222533

14 years

Ore Reserve

Jasper Musadaidzwa

AusIMM

991333

12 years

Geita – surface (metric)

Tonnes above
cut-off (millions)

0.00

Cut-off grade (g/t)

3.00

Average grade
above cut-off (g/t)

Tonnes above cut-off

Ave grade above cut-off

1.50

2.00

2.50

0.50

0.0

80.0

60.0

40.0

20.0

1.00

2.0

16.0

4.0

6.0

8.0

10.0

12.0

14.0

Geita – underground (metric)

Tonnes above
cut-off (millions)

0.00

Cut-off grade (g/t)

9.00

Average grade above cut-off (g/t)

Tonnes above cut-off

Ave grade above cut-off

2.00

1.00

2.0

14.0

4.0

6.0

8.0

10.0

12.0

3.00

4.00

5.00

6.00

7.00

8.00

0.0

70.0

60.0

40.0

20.0

50.0

30.0

10.0

108

Australasia

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

Australasia

Darwin

Adelaide

Perth

Canberra

Sydney

Brisbane

Laverton

Kalgoorlie

Australia

Sunrise Dam

Mineral Resource 3.62Moz
Ore Reserve

1.73Moz

Melbourne

Operations

Advanced projects

Tropicana

Mineral Resource 3.51Moz
Ore Reserve

2.31Moz

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

109

Regional overview

AngloGold Ashanti’s sole operating asset in Australasia is Sunrise Dam. The group also has an extensive exploration

programme under way in Australasia, the most advanced of which is Tropicana, the focus of the group’s exploration activities

in Australasia. The Australasian operation produced 401,000oz of gold in 2009, equivalent to 9% of total group production.

The Mineral Resource in Australasia, attributable to AngloGold Ashanti, totalled 7.13Moz at year-end, including an attributable

Ore Reserve of 4.04Moz.

Mineral Resources by region (attributable)

Contained

Tonnes

Grade

gold

as at 31 December 2009

Category

million

g/t

tonnes

Moz

Australasia

Measured

34.10

1.87

63.60

2.04

Indicated

38.83

2.88

111.97

3.60

Inferred

15.34

3.01

46.13

1.48

Total

88.26

2.51

221.69

7.13

Ore Reserves by region (attributable)

Contained

Tonnes

Grade

gold

as at 31 December 2009

Category

million

g/t

tonnes

Moz

Australasia

Proved

23.63

2.24

53.00

1.70

Probable

25.72

2.82

72.63

2.34

Total

49.35

2.55

125.63

4.04

Australasia – Australia

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

110

Australia

The Australian assets were acquired at the end of 1999 and comprise Sunrise Dam gold mine and the Tropicana project.

AngloGold Ashanti owns 100% of Sunrise Dam gold mine. The Tropicana project is a joint venture with Independence

Group NL in which AngloGold Ashanti Australia Limited (AGAA) holds 70%. AngloGold Ashanti sold its 33.33% interest in

Boddington gold mine to joint venture partner Newmont Mining Corporation, with the sale completed in June 2009.

The Tropicana deposit represents a discovery in a new gold province in which the joint venture partners have a dominant land

position and competitive advantage in understanding the mineralised system. Exploration potential in the district is high and

a number of large targets have been identified.

Mineral Resource and Ore Reserve gold prices and exchange rates

Units

2009

2008

Gold price – Mineral Resource

US$/oz

1,025

1,000

Gold price – Ore Reserve

US$/oz

800/900*

720

Exchange rate

US$/A$

0.80/0.85*

0.80

* Tropicana

Details of average drillhole spacing and type in relation to Mineral Resource classification

Type of drilling

Mine/

Spacing

Diamond

Blast-

Other

Comments

Project

Category

m (- x -)

hole

Tropicana

Measured

25 x 25

–

Indicated

50 x 50

–

Inferred

100 x 100

–

Grade control –

–

Ore Reserve estimation

The Ore Reserve is estimated within the current pit design using the relevant Mineral Resource models and updated

geotechnical and metallurgical parameters and appropriate operating costs. The recoverable gold Mineral Resource model

has been estimated either by a geostatistical technique called multiple indicator kriging or uniform conditioning (non-linear

geostatistical methods) and reflects the selectivity or SMU of the mining equipment that is intended to be used to recover the

Mineral Resource within the Ore Reserve pit design.

Modifying factors

The Ore Reserve cut-off grade for the Sunrise Dam open pit is based on a US$800/oz gold price at an US$/A$ exchange rate

of 0.8, with an average metallurgical recovery of 85.5%.

The Ore Reserve cut-off grade for Sunrise Dam underground is based on a US$800/oz gold price at an US$/A$ exchange

rate of 0.8, with an average metallurgical recovery of 85.5%.

The Ore Reserve cut-off grade for Tropicana is based on a US$900/oz gold price at an US$/A$ exchange rate of 0.85, with

an average metallurgical recovery of 91.2%. The economic parameters used for Tropicana ore reserve estimation are sourced

from the Tropicana joint venture enhanced pre-feasibility study.

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

111

Ore Reserve modifying factors

as at 31 December 2009

Metal-

Cut-off

Stoping

lurgical

weighted

width

Dilution

RRF

MRF recovery

Mine

g/t

Comments

Sunrise Dam
Surface – North Wall

0.90

–

85.5

0.90g/t cut-off is used. Operationally

Cutback

1.2g/t is used. Therefore, 0.9 – 1.2g/t
ore is mixed with marginal ore to
ensure maximum plant throughput.

Surface – stockpile

0.90

–

85.5

0.9g/t cut-off grade is used, except

(open pit)

the LG10, which is excluded due
to negative cash flow

Underground 3.50

3,500

85.5

Several

different

stoping

methods used

Tropicana
Surface

0.7

–

91.2

0.7g/t cut-off for oxide material
and 0.8g/t cut-off for fresh
material. Cut-offs are based on the
economic parameters used in the
Tropicana joint venture enhanced
pre-feasibility study.

Australasia – Australia – Sunrise Dam

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

112

Australia – Sunrise Dam

Location

Sunrise Dam lies some 220km north-north-east of Kalgoorlie and 55km south of Laverton in Western Australia. The mine,

100% owned by AngloGold Ashanti, comprises an open-pit operation and an underground mine. Mining is carried out by

contractors and ore is treated in a conventional gravity and leach process plant. The mining of the open pit has reached its

final depth and only a small north wall cutback is still in operation.

Geology

At Sunrise Dam, gold mineralisation is structurally controlled and vein hosted. The style of mineralisation can be differentiated

depending on the structure or environment in which it is hosted. There are three dominant domains recognised:

•

Shear-related and high strain – e.g. Sunrise Shear Zone;

•

Stock work development in planar faults with brittle characteristics (these occur in all rock types and are commonly

concentrated at lithofacies contacts within the volcanic stratigraphy or the porphyry margin and within hinge domains within

the magnetite shales) – e.g. Western Shear Zone, Watu, Cosmo, Summercloud; and

•

Placer-style mineralisation hosted within the fluvial sediments.

The vein and shear styles of gold mineralisation are introduced primarily during the third and fourth deformation stages and

variations in structural style, ore and gangue mineralogy and alteration intensity are observed locally. Secondary (supergene)

gold mineralisation is also an important part of the Cleo-Sunrise ore system and is highlighted by extremely high gold grades

developed near the base of Tertiary palaeo-channels and horizontal blankets of mineralisation related to iron redox fronts and

associated water tables.

Exploration

Near-mine exploration at Sunrise Dam is specifically focused on a two-stage strategy of developing and advancing proximal

opportunities to the open pit and underground operations, whilst determining long-term opportunities that exist up to 1.5km

below the mine. In 2010, $10 million will be spent on the initial stage of near-mine exploration with a strategy of growing the

Mineral Resource base to 20Mt by December 2011, whilst ensuring that Sunrise Dam can always deliver on its business

promises. This is achievable with a secure tenement holding, comprising in excess of 200km

within the central Laverton

Greenstone Belt and high-quality targets immediately proximal to and below the mine area.

In addition to projects within the AGAA-owned tenure, strategic joint ventures continue to be developed. These opportunities,

coupled with world-class, cutting-edge geological research and development initiatives, support a well-developed strategy

that will provide the best opportunity to successfully develop a strong and diverse project portfolio.

50,050m

50,300m

50,550m

50,800m

2,400m

2,300m

2,200m

2,100m

2,000m

1,900m

1,800m

1,700m

Sunrise Dam Gold Mine - section 100,500m N

Non-stratified monomictic
Breccia hyaloclastite

Stratified monomictic breccia
(resedimented hyaloclastite)

Polymictic-monomictic
conglomarate

Sandstone - siltstone

Siltstone

Magnetite shale (BIF)

Schist

Shear

Fault

Pit

Legend

Lake clay

Saprolite

Undifferentiated

Quartz-feldspar rhyolite

Coarsely
quartz-phyric rhyolite

Quartz diorite

Diorite / Dolerite

Basalt

Basaltic andesite

Andesite

Sunrise Dam gold mine – section 100,500m N

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

113

Projects

The underground project seeks to delineate the deep Mineral Resource below the mine area. The extensions of the current

orebodies can be traced to depths in excess of 1.2km vertical and extend over a strike length of 2.5km. This, in addition to

the satellite underground and open pit opportunities, forms the framework for the LOM at Sunrise Dam.

Mineral Resource Estimation

Open-pit estimates are generated using a geostatistical method called multiple indicator kriging. All available geological

drillhole information is validated for use in the models and the local geology of the orebody is used to classify the drillhole

information into appropriate geostatistical domains. Detailed statistical analyses are conducted on each of these domains and

this allows for the identification of high-grade outliers. If these values are anomalous to the general population characteristics

then they are cut back to the appropriate upper limit of the population.

Estimation of the underground Mineral Resource uses the geological model boundaries to subdivide all drillhole data into

appropriate domains. Statistical analyses are performed on these domains and, in a similar manner to that of open-pit

estimation, high-grade outliers are identified and appropriately cut back to the upper limit of the population. A geostatistical

method called ordinary kriging is used to produce estimates of a pre-determined block size. These block sizes are 10m x 10m

and 20m x 20m. The geostatistical technique of conditional simulation has been used to estimate the Cosmo ore zone.

Mineral Resource (attributable)

as at 31 December 2009

Contained

Tonnes

Grade

gold

Sunrise Dam

Category

million

g/t

tonnes

Moz

Golden Delicious

Measured

–

Indicated

1.04

1.84

1.91

0.06

Inferred

2.64

1.64

4.33

0.14

Total

3.68

1.70

6.24

0.20

North Wall Cutback

Measured

1.68

3.44

5.77

0.19

Indicated

1.22

2.66

3.25

0.10

Inferred

–

Total

2.90

3.11

9.02

0.29

Stockpile (open pit)

Measured

15.46

1.20

18.60

0.60

Indicated

–

Inferred

–

Total

15.46

1.20

18.60

0.60

Stockpile (underground)

Measured

0.04

4.03

0.16

0.01

Indicated

–

Inferred

–

Total

0.04

4.03

0.16

0.01

Underground

Measured

–

Indicated

8.71

5.82

50.68

1.63

Inferred

4.78

5.82

27.85

0.90

Total

13.50

5.82

78.52

2.52

Sunrise Dam

Total

35.58

3.16

112.53

3.62

Exclusive Mineral Resource

as at 31 December 2009

Contained

Tonnes

Grade

gold

Sunrise Dam

Category

million

g/t

tonnes

Moz

Measured

0.10

0.82

0.09

0.00

Indicated

1.68

10.86

18.24

0.59

Inferred

7.43

4.33

32.18

1.03

Sunrise Dam

Total

9.21

5.48

50.51

1.62

Exclusive Mineral Resource

The Exclusive Mineral Resource includes Inferred Mineral Resource and low-grade stockpiles that do not currently meet the

Ore Reserve cut-off grade requirements.

Ore Reserve

Contained

Tonnes

Grade

gold

Sunrise Dam

Category

million

g/t

tonnes

Moz

North Wall Cutback

Proved

1.58

3.61

5.68

0.18

Probable

1.10

2.76

3.03

0.10

Total

2.68

3.26

8.72

0.28

Stockpile (open pit)

Proved

6.70

1.54

10.32

0.33

Probable

–

Total

6.70

1.54

10.32

0.33

Stockpile (underground)

Proved

0.04

4.03

0.16

0.01

Probable

–

Total

0.04

4.03

0.16

0.01

Underground

Proved

–

Probable

8.19

4.22

34.55

1.11

Total 8.19

4.22

34.55

1.11

Sunrise Dam

Total

17.60

3.05

53.75

1.73

Inferred Mineral Resource in pit optimisation

Inferred material is included in the pit optimisation, but makes up only a small proportion (~13%) of the total Mineral Resource

ounces. Further drilling will increase the confidence in the estimation of this material with a view to bring the material into the

Ore Reserve in the near future.

Australasia – Australia – Sunrise Dam

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

114

Sunrise Dam: Ore Reserve reconciliation

2008 vs 2009

Ounces (millions)

1.90

2008

-0.45

Depletion

0.13

Model

Change

0.00
New

ounces

from

projects

0.15

Scope

Change

1.73

2009

0.01

Change in

Economics

1.00

0.00

Other

1.50

2.00

Sunrise Dam: Mineral Resource reconciliation

2008 vs 2009

Ounces (millions)

3.85

2008

-0.48

Depletion

0.06
Gold

price

0.27

Exploration

-0.00

Metho-

dology

3.62

2009

0.00
Cost

3.00

-0.08
Other

4.00

3.50

Change

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

115

Competent persons

Professional

Registration

Relevant

Category

Type

Name

organisation

number

experience

Surface

Mineral Resource

James Biggam

AusIMM

112082

16 years

Ore Reserve

Salih Ramazan

AusIMM

22870

8 years

Underground

Mineral Resource

James Biggam

AusIMM

112082

16 years

Ore Reserve

Andrew Gasmier

AusIMM

211557

14 years

Sunrise Dam – surface (metric)

Tonnes above
cut-off (millions)

Cut-off grade (g/t)

Average grade
above cut-off (g/t)

Tonnes above cut-off

Ave grade above cut-off

0.00

5.00

2.00

1.00

3.00

4.00

0.0

14.0

12.0

8.0

6.0

10.0

4.0

2.0

0.0

8.0

10.0

6.0

2.0

4.0

Sunrise Dam – underground (metric)

Tonnes above
cut-off (millions)

0.00

Cut-off grade (g/t)

16.00

Average grade above cut-off (g/t)

Tonnes above cut-off

Ave grade above cut-off

8.00

10.00

12.00

6.00

14.00

5.0

10.0

25.0

15.0

20.0

4.00

2.00

0.0

4.0

2.0

14.0

6.0

10.0

12.0

8.0

Australasia – Australia – Tropicana

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

116

Australia – Tropicana

Location

The Tropicana gold project is located 330km east north-east of Kalgoorlie, Western Australia. The mineral deposit is hosted

in tectonically-reworked Archaean rocks that form the eastern margin of the Yilgarn Craton. Tropicana is the first deposit

discovered in this remote portion of the Great Victoria Desert and is widely regarded as defining an emerging greenfields

gold province.

Together, the Tropicana and Havana deposits define a north-east trending mineralised corridor ~1.2km wide and ~5km long

that has been tested to vertical depth of 400m. The Mineral Resource remains open down-dip for both the Tropicana and

Havana deposits, and along strike to the north of the Tropicana deposit and south of the Havana deposit. Neither the

immediate metamorphic host rocks nor mineralised zones are exposed at surface due to the presence of widespread cover

sequences (0.5–15m thick).

Geology

The Tropicana deposit comprises one main ore zone (2-50m thick) and subordinate thin (3-5m), discontinuous mineralised

lenses that typically return intercepts <0.5g/t gold. The Havana deposit comprises a lower, laterally continuous higher-grade

lode (2-50m thick) that is overlain, in central and southern parts of the proposed pit, by stacked, typically lower-grade and

thinner (5-25m) ore zones dominantly hosted in quartzo-feldspathic gneiss.

Models of the mineralised envelope (>

– 0.3g/t) define a wavy, asymmetric foliation that is broadly sub-parallel to dominantly east

to south-east dipping gneissic banding and local stratigraphic divisions. The foliation is deflected approaching discrete high-

strain sericite-biotite-chlorite±graphite shears that are anomalous in gold. Three distinct structural domains can be identified:

Tropicana, Havana North and Havana South. The northern margin of the Tropicana domain is defined by the east-northeast-

striking and southerly-dipping Boston Shaker Shear Zone. The Tropicana and Havana domains are separated by north-east

to east-striking, variably-dipping structural discontinuities defined by the Muddler, Swizzler and Cobbler Shears. At Havana,

the boundary between the northern and southern structural domains is coincident with an east-west-striking steep fault (Don

Lino Shear).

100km

Australia

Rawlinna

Tropicana JV granted tenure
and tenement applications

Tropicana gold project

Road

Track

Railway line

NB: Tenements Current as at 16/01/2009

Menzies

Pinjin

Leonora

Laverton

Kalgoorlie-Boulder

Kalgoorlie

Tropicana JV

Perth

Western
Australia

500km

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

117

In detail, single lodes comprise multiple stacked higher-grade (>– 3g/t) lenses within a lower grade (>– 0.3g/t) envelope. Single

high-grade lenses and their medium grade halos locally converge to form thicker, composite mineralised zones. The geometry

is interpreted as a linked shear system that in drill core manifests as discontinuous biotite-pyrite shears which are developed

on a mm to cm scale.

Sulphides within the ore zones are dominated by pyrite (2-8%, <0.2mm) with accessory pyrrhotite, chalcopyrite, electrum and

telluride minerals, and trace minerals including, but not limited to, sphalerite, galena and bornite. Free gold occurs as fine-

grained (typically 10-30 microns) inclusions within pyrite and less commonly along biotite-sericite fractures cutting silicate

minerals. Mineralisation was strongly influenced by the character of precursor metamorphic facies at scales ranging from

single grains and crystal-clusters (mm to cm scale) to preferential concentration of gold in rheologically and/or chemically

favourable K-feldspar-rich facies of the quartzo-feldspathic gneiss association (deposit scale).

Gold mineralisation is temporally related to shear planes that post-date the main gneissic fabric developed during, peak

(granulite facies) metamorphism. Permeability created during brittle fragmentation was accompanied by synchronous

partitioning of strain into pervasively biotite-sericite-pyrite-altered dissolution and shear planes that envelop more competent

lithons. Sulphide and gold mineralisation formed from higher temperature (>350°C) silica-undersaturated fluids that were

buffered by the wall rock at variable oxidation states.

Exploration

The Tropicana joint venture has assembled a dominant land-holding within an emerging greenfields belt. Maximising the value

of the known Mineral Resource and capitalising on the strategic ground holding is dependent on timely application of

exploration expenditure. Progressive focusing of expenditure in tenure shown to be more prospective and relinquishment of

less prospective parts of the portfolio will heighten the probability of discovery. This approach will best be achieved through

sustained investment in systematic exploration.

Capitalising on the joint venture first mover advantage is dependent on systematic exploration of regional targets (>60km from

Tropicana), near resource targets (<60km), and extensions of the known Mineral Resource that may form part of an

underground Mineral Resource. The exploration strategy aims to balance short- to longer-term value creation through

sustained deployment of expenditure within the portfolio of early-, mid- and later-stage prospects and targets.

The key objectives for 2010 can be summarised as:

•

defining additional higher value ounces to maximise the value of the Tropicana gold project;

•

identifying the potential scale of the underground Mineral Resource at Tropicana and Havana that can complement

conceptual open-pit mining and extend the conceptual mine life; and

•

progressing exploration in the wider Tropicana Belt to leverage the value that may be unlocked at a province scale with the

objective of making further greenfield discoveries.

Projects

The Tropicana gold project is currently the focus of a bankable feasibility study into the viability of open-pit mining. The study

is due for completion in the second half of 2010.

Mineral Resource estimation

The geostatistical method of uniform conditioning is used to estimate the Mineral Resource. All available geological drillhole

information is validated for use in the models and the local geology of the orebody is used to classify the drillhole information

into appropriate geostatistical domains. Detailed statistical analyses are conducted on each of these domains and this allows

for the identification of high-grade outliers. If these values are anomalous to the general population characteristics, then they

are cut back to the appropriate upper limit of the population.

Mineral Resource has been reported above a marginal (break-even) cut-off grade of 0.6g/t for oxide and transitional material

and 0.7g/t for fresh material, within a US$1,000 optimisation at an US$/A$ exchange rate of 0.8.

Australasia – Australia – Tropicana

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

118

Mineral Resource (attributable)

as at 31 December 2009

Contained

Tonnes

Grade

gold

Tropicana

Category

million

g/t

tonnes

Moz

Surface

Measured

16.91

2.31

39.07

1.26

Indicated

27.86

2.02

56.14

1.80

Inferred

7.91

1.76

13.95

0.45

Total

52.68

2.07

109.16

3.51

Exclusive Mineral Resource

as at 31 December 2009

Contained

Tonnes

Grade

gold

Tropicana

Category

million

g/t

tonnes

Moz

Measured

1.60

1.40

2.24

0.07

Indicated

11.43

1.85

21.10

0.68

Inferred

7.91

1.76

13.95

0.45

Tropicana

Total

20.94

1.78

37.28

1.20

Exclusive Mineral Resource

The Exclusive Resource consists of a small amount of Inferred material within the Tropicana joint venture. Enhanced pre-

feasibility study pit designs have been generated at depth in the Havana pit and in Havana South. Further drilling will increase

the confidence in the estimation of this material with a view to bring the material into the Ore Reserve in the near future.

SAPRK

SW (local)

TFRC100

TFRC807

NE (local)

Gamet
Gneiss

Boston Shaker
Shear

Longitudinal section of Tropicana

Surface

70m

Legend

3gt

1gt

0.5gt

Schist

Gamet gnessis

Longitudinal section of Tropicana

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

119

Ore Reserve

as at 31 December 2009

Contained

Tonnes

Grade

gold

Tropicana

Category

million

g/t

tonnes

Moz

Surface

Proved

15.31

2.41

36.84

1.18

Probable

16.43

2.13

35.04

1.13

Total

31.74

2.26

71.88

2.31

Inferred Mineral Resource in pit optimisation

Inferred material is included in the pit optimisation, but makes up only a small proportion (~15%) of the total Mineral Resource

ounces. Further drilling will increase the confidence in the estimation of this material with a view to bring the material into the

Ore Reserve in the near future.

Competent persons

Professional

Registration

Relevant

Category

Name

organisation

number

experience

Mineral Resource

Mark Kent

AusIMM

203631

12 years

Ore Reserve

Marek Janas

AusIMM

210148

18 years

Tropicana – surface (metric)

Tonnes above
cut-off (millions)

Cut-off grade (g/t)

Average grade
above cut-off (g/t)

Tonnes above cut-off

Ave grade above cut-off

15.0

65.0

55.0

35.0

25.0

45.0

1.5

3.5

4.0

3.0

2.0

2.5

0.00

2.00

0.75

0.50

1.00

1.75

1.25

Tropicana: Ore Reserve reconciliation

2008 vs 2009

Ounces (millions)

0.00

2008

0.00

Depletion

0.00

Model

Change

2.31
New

ounces

from

projects

0.00

Scope

Change

2.31

2009

0.00

Change in

Economics

0.00

Other

1.50

3.00

Tropicana: Mineral Resource reconciliation

2008 vs 2009

Ounces (millions)

3.51

2008

0.00

Depletion

0.00
Gold

price

0.00

Exploration

0.00

Metho-

dology

3.51

2009

0.00
Cost

2.00

0.00

Other

3.50

2.50

3.00

Change

120

North America

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

North America

Philadelphia

Chicago

Los Angeles

San Francisco

Washington DC

United States

CC&V
Mineral Resource

13.74Moz

Ore Reserve

4.29Moz

New York

Operations

Denver

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

121

Regional overview

AngloGold Ashanti has one mining operation in North America, Cripple Creek & Victor (CC&V) in the state of Colorado in the

United States. In 2009, CC&V produced 218,000oz of gold, equivalent to 5% of group production.

The Mineral Resource in North America attributable to AngloGold Ashanti totalled 13.74Moz at year-end, and attributable Ore

Reserve, 4.29Moz.

Mineral Resource by region (attributable)

Contained

Tonnes

Grade

gold

as at 31 December 2009

Category

million

g/t

tonnes

Moz

North America

Measured

280.80

0.82

231.03

7.43

Indicated

194.55

0.73

142.71

4.59

Inferred

73.12

0.73

53.58

1.72

Total

548.46

0.78

427.31

13.74

Ore Reserve by region (attributable)

Contained

Tonnes

Grade

gold

as at 31 December 2009

Category

million

g/t

tonnes

Moz

North America

Proved

99.82

0.92

92.29

2.97

Probable

46.40

0.89

41.17

1.32

Total

146.22

0.91

133.47

4.29

North America – United States

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

122

United States

Regional overview

In March 1999 AngloGold Ashanti acquired the Pikes Peak Mining Company, and interests in the Cripple Creek & Victor Gold
Mining Company (CC&V) and the Jerritt Canyon joint ventures. Due to the merger of Golden Cycle Gold Corporation into a
wholly-owned subsidiary of AngloGold Ashanti effective July 1, 2008, CC&V became an indirect, wholly-owned joint venture
of AngloGold Ashanti Limited.

CC&V currently controls over 85% of the patented claims within the district and 100% of the land within the 2009 Mineral
Resource. The Ore Reserve and Mineral Resource are stated at 100% ownership basis, although portions of the Ore Reserve
are subject to third party royalties that vary according to individual agreements with the underlying property owner.

Mineral Resource estimation

A single unified Mineral Resource model has been developed for the entire district. The unified model encompasses all known
deposits and drilling within the CC&V property. The estimation method is multiple indicator kriging and the primary variable
estimated is the recoverable gold.

An estimated iron and oxide model is utilised to interpolate block specific coefficients for input into the metallurgical recovery
function. The method for calculating nominal shake leach values is a regression technique using geologically logged
categorical variables. Modelling software is MineSight

and updated drillhole information is used throughout. The drillhole

database is thoroughly reviewed before each Mineral Resource estimation and the estimation domains are based on lithology
and structural domains for each deposit.

Mineral Resource and Ore Reserve gold price

Units

2009

2008

Gold price – Mineral Resource

US$/oz

1,025

1,000

Gold price – Ore Reserve

US$/oz

800

720

Mineral Resources (attributable)

as at 31 December 2009

Contained

Tonnes

Grade

gold

United States

Category

million

g/t

tonnes

Moz

CC&V

Measured

280.80

0.82

231.03

7.43

Indicated

194.55

0.73

142.71

4.59

Inferred

73.12

0.73

53.58

1.72

Total

548.46

1.78

427.31

13.74

Details of average drillhole spacing and type in relation to Mineral Resource classification

Type of drilling

Mine/

Spacing

Diamond

Blast-

Other

Comments

Project

Category

m (- x -)

hole

CC&V

Measured

30 x 30

–

Indicated

45 x 45

–

Inferred

75 x 75

–

Grade control 5 x 6

–

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

123

Ore Reserve estimation

The Ore Reserve pit designs were based on LG optimisations of the Mineral Resource model. The LG algorithm applies

economic values to individual blocks and then generates a pit shell based on geotechnical constraints. Successive nested

shells are generated until the economic limits of the pit are established. These shells are then used as a template for final mine

design. Pit slope designs for all deposits were based on geotechnical studies and range between 32° and 57°. All pits were

designed using a 10.7m (35 feet) bench height except the South Cresson which utilises 6.1m (20 feet).

Inferred Mineral Resource in business plan

Inferred Mineral Resource is not used in the pit optimisation.

Ore Reserve

as at 31 December 2009

Contained

Tonnes

Grade

gold

United States

Category

million

g/t

tonnes

Moz

CC&V

Proved

99.82

0.92

92.29

2.97

Probable

46.40

0.89

41.17

1.32

Total

146.22

0.91

133.47

4.29

Ore Reserve modifying factors

as at 31 December 2009

Mine call

Metal-

Cut-off

Stoping

factor

lurgical

weighted

width

Dilution

RRF

MRF

(MCF) recovery

Mine

g/t

CC&V
Cresson

0.16

–

Globe Hill

0.16

–

South Cresson

0.16

–

Wild Horse Extension

0.16

–

North America – United States – CC&V

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

124

United States – CC&V

Background

CC&V is located south-west of Colorado Springs in the state of Colorado in the United States. Large-scale surface mining

began in 1991 and grew with the start of production at the CC&V Cresson project in 1994. Today, CC&V is a low-grade, open-

pit operation. The ore is treated using a valley leach facility (VLF) with activated carbon used to recover the gold. The resulting

doré buttons are shipped to a refinery for final processing.

Geology

The mining district is located between the towns of Cripple Creek and Victor. The dominant geological feature is a Tertiary-

aged, diatreme intrusive complex 6.4km long and 3.2km wide. The diatreme-intrusive complex is hosted in Precambrian age

rocks including biotite gneiss, granodiorite, quartz monzonite and granite.

The diatreme is primarily composed of highly variable breccias and volcanoclastics that have been intruded by stocks, dykes,

sills and discordant breccias. These rocks, primarily phonolitic in composition, were followed by late lamprophyre dikes and

breccia pipes. The host rocks have undergone a complex history of structural deformation and hydrothermal activity and

alteration. Gold mineralisation post-dates volcanic activity, and is hosted in all rock types as veins and disseminated and/or

structurally-controlled orebodies. The gold mineralisation has been dated between 27.8 and 26.6Ma. District structures are

generally near vertical and strike north-north-west to north-east. These structures commonly controlled the intrusions and

acted as primary conduits for late-stage, gold mineralising solutions.

Higher grade pods of mineralisation occur at structural intersections and/or as sheeted veins along zones of strike deflection.

High-grade gold mineralisation is also associated with K-feldspar + pyrite +/- carbonate alteration and occurs adjacent to the

major structural and intrusive dyke zones. The broader zones of disseminated mineralisation occur primarily as micro-fracture

halos around the stronger alteration zones in the more permeable Cripple Creek breccia wall rocks. The average depth of

oxidation is 120m and is also developed along major structural zones to even greater depths. Individual orebodies can be

tabular, pipe-like, irregular or massive. Individual gold particles are generally less than 20 microns in size. Gold occurs as native

gold with pyrite, native gold and gold-silver tellurides. In the oxide zone, gold occurs with hydrous iron and manganese oxides.

Silver is present but is economically unimportant. Iron and manganese oxides, pyrite, K-feldspar alteration and quartz can

encapsulate gold mineralisation locally.

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

125

Mine life extension project

CC&V has implemented a mine life extension (MLE) project that extends the LOM. The MLE mining area utilises a lower cut-

off grade from four of the design pits (Cresson, South Cresson, Wild Horse Extension and Globe Hill) to generate the ore

tonnage needed. Processing and recovery of the additional gold will be completed through a phase 5 extension of the existing

VLF. Overburden resulting from mining in these extension areas will be placed into portions of the existing main Cresson mine,

east Cresson mine, and north Cresson mine as mine backfill or placed for storage in the existing Squaw Gulch Overburden

storage area. Approximately 113Mt of additional ore and 231Mt of additional overburden will be mined within the proposed

MLE areas for a total of 344Mt over the additional five years of mining in the MLE area. The ore will be crushed and processed

using the existing crushing and conveying facilities. Ore will be processed on the existing VLF and the phase 5 extension, and

recovered in the existing process facility.

Mineral Resource (attributable)

as at 31 December 2009

Contained

Tonnes

Grade

gold

CC&V

Category

million

g/t

tonnes

Moz

Cresson

Measured

280.80

0.82

231.03

7.43

Indicated

194.55

0.73

142.71

4.59

Inferred

73.12

0.73

53.58

1.72

CC&V

Total

548.46

0.78

427.31

13.74

Exclusive Mineral Resource

as at 31 December 2009

Contained

Tonnes

Grade

gold

CC&V

Category

million

g/t

tonnes

Moz

Measured

180.98

0.77

138.73

4.46

Indicated

148.15

0.69

101.53

3.26

Inferred

68.65

0.74

50.77

1.63

CC&V

Total

397.78

0.73

291.04

9.36

North America – United States – CC&V

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

126

Exclusive Mineral Resource

The Exclusive Mineral Resource at CC&V lies peripheral to, and along, mineralised strike extensions in the current pit designs.

None of this material was brought into the Ore Reserve during 2009 as CC&V is currently engaged in a MLE pre-feasibility

study. The study will be completed during 2010 and a portion of the material is then expected to be brought into the Ore

Reserve in 2010.

Ore Reserve

as at 31 December 2009

Contained

Tonnes

Grade

gold

CC&V

Category

million

g/t

tonnes

Moz

Cresson

Proved

62.36

0.88

55.16

1.77

Probable

29.55

0.88

26.04

0.84

Total

91.91

0.88

81.20

2.61

Globe Hill

Proved

7.40

0.47

3.45

0.11

Probable

4.46

0.45

2.02

0.06

Total

11.86

0.46

5.47

0.18

South Cresson

Proved

12.28

0.85

10.40

0.33

Probable

2.48

0.89

2.21

0.07

Total

14.77

0.85

12.62

0.41

Wild Horse Extension

Proved

17.77

1.31

23.28

0.75

Probable

9.91

1.10

10.91

0.35

Total

27.68

1.23

34.18

1.10

CC&V

Total

146.22

0.91

133.47

4.29

CC&V: Mineral Resource reconciliation

2008 vs 2009

Ounces (millions)

13.31

2008

-0.31

Depletion

2.07
Gold

price

0.60

Exploration

-1.44

Metho-

dology

13.74

2009

-0.49

Cost

11.00

0.00

Other

12.50

15.50

14.00

CC&V: Ore Reserve reconciliation

2008 vs 2009

Ounces (millions)

4.93

2008

-0.30

Depletion

-0.02

Model

Change

0.00
New

ounces

from

projects

-0.32

Scope

Change

4.29

2009

0.00

Change in

Economics

3.00

0.00

Other

4.50

5.00

4.00

3.50

Change

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

127

Competent persons

Professional

Registration

Relevant

Category

Name

organisation

number

experience

Mineral Resource

Tim Brown

AusIMM

226857

24 years

Ore Reserve

Jesse Gage

SME

1094700

23 years

CC&V – surface (metric)

Tonnes above
cut-off (millions)

Cut-off grade (g/t)

verage grade above cut-of

f (g/t)

Tonnes above cut-off

Ave grade above cut-off

0.0

300.0

250.0

200.0

150.0

100.0

50.0

0.25

1.75

1.25

1.00

0.75

0.50

1.50

1.0

4.0

5.0

6.0

3.0

2.0

128

South America

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

South America

Colombia

La Colosa

Mineral Resource

12.32Moz

Quebradona

Gramalote

Mineral Resource

1.04Moz

Operations

Exploration

New exploration

Brazil

Serra Grande (50%)

Mineral Resource

1.03Moz

Ore Reserve

0.35Moz

Brasil Mineração

Mineral Resource

10.88Moz

Ore Reserve

2.18Moz

Argentina

Cerro Vanguardia (92.5%)

Mineral Resource

3.88Moz

Ore Reserve

1.88Moz

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

129

Regional overview

AngloGold Ashanti has three operations in South America – Cerro Vanguardia in Argentina, and AngloGold Ashanti Brasil
Mineração (Brasil Mineração) and Serra Grande in Brazil. Combined, these operations produced 598,000oz of gold in 2009,
equivalent to 13% of group production and 6% more than in 2008. In addition, AngloGold Ashanti has had an active
exploration programme in Colombia for some years, with the most favourable of the prospects being in the La Colosa district.
The exploration programmes in Argentina and Brazil were recently expanded.

The Mineral Resource in South America attributable to AngloGold Ashanti, including the Colombia Mineral Resource, totalled
29.16Moz at year-end, and the attributable Ore Reserve, 4.41Moz.

Mineral Resource estimation

The Mineral Resource estimates are computed using the relevant computer modules of Datamine

software package. The

geological model is a critical part of the Mineral Resource estimation process. The orebody boundaries for each geological
entity (veins, stock work, wall rock) are defined from the detailed logging of all geological boreholes and after validation this
information is used to create a three dimensional model. This model is subsequently overlain with a 5 x 25 x 5m (X by Y by Z)
block model. The block sizes used are chosen to represent the dimensions in which the deposit is intended to be mined.

Volumetric measurements of the orebody are subsequently computed in the system using the relevant block dimensions.
Ordinary kriging is used to perform the grade interpolation. Field tests are conducted to determine appropriate in-situ densities.

Stochastic simulations are performed in the main orebodies for uncertainty assessment and the Mineral Resource is then
classified into the Measured, Inferred and Indicated categories according to stringent rules.

Mineral Resource by region (attributable)

Contained

Tonnes

Grade

gold

as at 31 December 2009

Category

million

g/t

tonnes

Moz

South America

Measured

23.24

4.06

94.30

3.03

Indicated

53.02

3.43

182.08

5.85

Inferred

439.19

1.44

630.56

20.27

Total

515.46

1.76

906.94

29.16

Ore Reserve estimation

The appropriate Mineral Resource models are used as the basis for the Ore Reserve. All relevant modifying factors such as
mining dilution and costs are used in the Ore Reserve conversion process. This is based on the original block grades and
tonnage and includes waste material (both internal and external). Appropriate Ore Reserve cut-off grades are applied and all
blocks above this cut-off are reported. For the reserve optimisation, Whittle

software was used and Datamine

software was

utilised to design the pits.

It is important to emphasise the importance of the silver during the optimisation of the pits, since silver is a significant
by-product at Cerro Vanguardia. The ratio of silver to gold commonly ranges from 10 to 15g/t of silver per 1g/t of gold.

Cerro Vanguardia uses conventional open-pit mining with a doubled bench height of 20m. Mining is distributed between
multiple operating pits, typically three to five at any one time; depending on the plant feed requirements. Waste dumps and
heap-leach stockpiles are located adjacent to each pit. Plant grade ore feed is trucked to either the long-range or short-range
stockpiles in order to smooth out the head grades and avoid recovery losses due to higher than planned silver grades.
The average stripping ratio for the remaining 10 years of mine life is 23:1.

Ore Reserve by region (attributable)

Contained

Tonnes

Grade

gold

as at 31 December 2009

Category

million

g/t

tonnes

Moz

South America

Proved

17.43

3.11

54.15

1.74

Probable

16.94

4.89

82.87

2.66

Total

34.37

3.99

137.02

4.41

South America – Argentina

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

130

Argentina

Regional overview

AngloGold Ashanti has a single operation in Argentina, the Cerro Vanguardia mine, which is a joint venture with Formicruz

(the province of Santa Cruz). The province of Santa Cruz holds 7.5% and the remaining 92.5% belongs to AngloGold Ashanti.

Mineral Resource and Ore Reserve gold prices and exchange rates

Units

2009

2008

Gold price – Mineral Resource

US$/oz

1,025

1,000

Gold price – Ore Reserve

US$/oz

750

720

Exchange rate

ARS/US$

3.80

3.10

Details of average drillhole spacing and type in relation to Mineral Resource classification

Type of drilling

Mine/

Spacing

Diamond

Blast-

Other

Comments

Project

Category

m (- x -)

hole

Cerro

Measured

12.5 x 12.5

–

Vanguardia

Indicated

40 x 40

–

Inferred

80 x 80

–

Grade control 5 x 10

–

Ore Reserve modifying factors

as at 31 December 2009

Mine call

Metal-

Cut-off

factor

lurgical

weighted

Dilution

MRF

(MCF) recovery

Mine

g/t

Comments

Cerro Vanguardia
Heap Leach

0.35

–

100

–

Stockpile
(full grade ore)

–

Vein Mineral Resource

2.35

100

94.99

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

South America – Argentina – Cerro Vanguardia

131

Argentina – Cerro Vanguardia

Location

The Cerro Vanguardia property is located in the Santa Cruz Province, southern Argentina, approximately 120km north-north-

west of San Julián, and 195km west-south-west of Puerto Deseado. Access to the area is by plane from Buenos Aires to

Comodoro Rivadavia (Chubut), or Río Gallegos (Santa Cruz), and subsequently by road to the mine site. The mine is

approximately 650km from Comodoro Rivadavia and 540km from Río Gallegos.

4644000

2550000

2520000

2540000

2560000

2580000

CVSA Geological Map

2550000

2520000

2540000

2560000

2580000

4642000

4640000

4638000

4636000

4634000

4632000

4644000

4642000

4640000

4638000

4636000

4634000

4632000

Cerro Vanguardia

Planta

2km

Scale

0.5

1:50,000

Legend

Plant

Veins

Cerro Vanguardia

Main road

Road

Tips

Pits

Geology

Angelita Basalt

La Avenida FM

Monte Leon FM

MLG4

MLF3

MLG3

MLF2

MLG2

MLF1

MLG1

Breccia / Estratificada Superior

Granite

Cerro Vanguardia geological map

South America – Argentina – Cerro Vanguardia

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

132

Geology

Cerro Vanguardia is located in the central portion of the 60,000km

Deseado Massif, the most extensive morphological and

stratigraphical unit in southern Argentina. The Deseado Massif consists of Palaeozoic low-grade metamorphic basement

rocks, unconformably overlain by a thick sequence of Lower to Upper Jurassic volcanic and volcanoclastic rocks of

intermediary and acidic composition. These older rocks are exposed in erosional windows through overlying Cretaceous

sediments and Tertiary to Quaternary basalts.

The oldest rocks in this part of Patagonia are of Precambrian-Cambrian age which are overlain by Permian and Triassic

continental clastic rocks which have been faulted into a series of horst and graben structures, and are associated with both

limited basaltic sills and dykes and with calc-alkaline granite and granodiorite intrusions.

Gold and silver mineralisation at Cerro Vanguardia occurs within a vertical range of about 150 to 200m, in a series of narrow,

banded quartz veins that occupy structures within the Chon Aike ignimbrites. These veins form a typical structural pattern

related to major north-south (Concepcion) and east-west (Vanguardia) shears. Two sets of veins have formed in response to

this shearing: one set strikes about N40W and generally dips 65° to 90° to the east while the other set strikes about N75W

and the veins dip 60° to 80° to the south.

The veins are typical of epithermal, low-temperature, adularia-sericite character and consist primarily of quartz in several forms

such as massive quartz, banded chalcedonic quartz and quartz-cemented breccias. Dark bands in the quartz are due to finely

disseminated pyrite, now oxidised to limonite. The veins show sharp contacts with the surrounding ignimbrite, which hosts

narrow stockwork zones that are weakly mineralised, and appear to have been cut by a sequence of north-east trending faults

that have southerly movement with no appreciable lateral displacement.

Mineral Resource (attributable)

as at 31 December 2009

Contained

Tonnes

Grade

gold

Cerro Vanguardia

Category

million

g/t

tonnes

Moz

Heap leach

Measured

10.22

0.77

7.87

0.25

Indicated

12.57

0.62

7.79

0.25

Inferred

2.86

0.63

1.81

0.06

Total

25.66

0.68

17.48

0.56

Vein Mineral Resources

Measured

1.78

7.59

13.50

0.43

Indicated

10.12

6.80

68.83

2.21

Inferred

3.29

6.38

21.01

0.68

Total

15.19

6.80

103.34

3.32

Cerro Vanguardia

Total

40.85

2.96

120.81

3.88

Exclusive Mineral Resource

as at 31 December 2009

Contained

Tonnes

Grade

gold

Cerro Vanguardia

Category

million

g/t

tonnes

Moz

Measured

2.29

3.08

7.06

0.23

Indicated

16.04

2.17

34.80

1.12

Inferred

6.16

3.71

22.82

0.73

Cerro Vanguardia

Total

24.49

2.64

64.68

2.08

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

133

Mineral Resource by-product: Silver (Ag)

as at 31 December 2009

Contained

Tonnes

Grade

silver

Cerro Vanguardia

Category

Kg/t

tonnes

Moz

Measured

12.00

28.60

343.16

11.03

Indicated

22.70

66.94

1,519.31

48.85

Inferred

6.16

82.75

509.40

16.38

Cerro Vanguardia

Total

40.85

58.06

2,371.87

76.26

Ore Reserve

as at 31 December 2009

Contained

Tonnes

Grade

gold

Cerro Vanguardia

Category

million

g/t

tonnes

Moz

Heap leach

Proved

9.60

0.69

6.59

0.21

Probable

3.50

0.44

1.55

0.05

Total

13.11

0.62

8.14

0.26

Vein Mineral Resources

Proved

1.16

7.08

8.19

0.26

Probable

6.14

6.86

42.11

1.35

Total

7.30

6.89

50.30

1.62

Cerro Vanguardia

Total

20.40

2.86

58.44

1.88

Cerro Vanguardia: Ore Reserve reconciliation

2008 vs 2009

Ounces (millions)

1.84

2008

-0.20

Depletion

0.11

Model

Change

0.00
New

ounces

from

projects

0.12

Scope

Change

1.88

2009

0.00

Change in

Economics

0.01

Other

Cerro Vanguardia: Mineral Resource reconciliation

2008 vs 2009

Ounces (millions)

3.73

2008

-0.18

Depletion

0.00
Gold

price

0.27

Exploration

0.07

Metho-

dology

3.88

2009

0.00
Cost

3.00

0.00

Other

4.00

3.50

Change

1.00

1.50

2.00

South America – Argentina – Cerro Vanguardia

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

134

Ore Reserve by-product: Silver (Ag)

as at 31 December 2009

Contained

Tonnes

Grade

silver

Silver

Cerro Vanguardia

Category

Kg/t

tonnes

Moz

Proved

10.76

22.59

243.10

7.82

Probable

9.64

87.50

843.60

27.12

Cerro Vanguardia

Total

20.40

53.27

1,086.71

34.94

Competent persons

Professional

Registration

Relevant

Category

Name

organisation

number

experience

Mineral Resource

AHM Silva

AusIMM

224831

11 years

Ore Reserve

Miguel Fuentealba

AusIMM

226663

15 years

Cerro Vanguardia – surface (metric)

Tonnes above
cut-off (millions)

0.00

Cut-off grade (g/t)

10.00

Average grade
above cut-off (g/t)

Tonnes above cut-off

Ave grade above cut-off

8.00

6.00

4.00

2.00

6.0

18.0

8.0

10.0

12.0

14.0

16.0

2.0

16.0

14.0

12.0

10.0

8.0

6.0

4.0

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

South America – Brazil

135

Brazil

Regional overview

AngloGold Ashanti’s operations in Brasil comprise the wholly-owned AngloGold Ashanti Brazil Mineração (formerly Morro

Velho assets) and a 50% interest in the Mineração Serra Grande mine.

Mineral Resource and Ore Reserve gold prices and exchange rates

Units

2009

2008

Gold price – Mineral Resource

US$/oz

1,025

1,000

Gold price – Ore Reserve

US$/oz

800

720

Exchange rate – Brazil

BRL/US$

2.00

1.94

Pedro Leopoldo

Confins

São José da Lapa

Ribeirão das Neves

Contagem

Betim

Ibirité

Brumadinho

Bonfim

Moeda

Itabirito

Rio Acima

Ouro Preto

Catas Altas

Alvin Upolis

Rio Piracicaba

Barão de Cocais

Caeté

Bom Jesus
do Amparo

Nova União

Taquaraáu de Minas

Santa Luzia

Lagoa Santa

Vespasiano

Sarzedo

João Monlevade

Itabira

Santa Bárbara

Corrego

do Sitio II

Corrego

do Sitio

Lamego mine

Cuiabá mine

Queiroz

plant

Head

office

Morro Velho

mine

Raposos mine

Raposos

Gold

plant

Sabara

Colombia

Venezuela

Guyana

Suriname Fr Guiana

Uruguay

Argentina

Chile

Paraguay

Bolivia

Peru

Brazil

Nova Lima

Belo Horizonte

Legend

Mine

Cities

Metalurgical plant

Aerial ropeway from Cuibá
mine to Queiroz plant – 15km

Brasil

Mineração

Serra

Grande

Brazil mine locations

South America – Brazil

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

136

Details of average drillhole spacing and type in relation to Mineral Resource classification

Type of drilling

Mine/

Spacing

Diamond

Blast-

Other

Comments

Project

Category

m (- x -)

hole

Serra Grande

Measured

10 x 10, and

–

10 x 20

–

Indicated

10 x 20, and

–

20 x 50

–

Inferred

50 x 100, and

–

50 x 200

–

Grade control 2 x 2

–

Channel sampling

100m

Legend

DDH/AU Hist.

Orebody

DB1 Intrusive

DB2 Intrusive

DB3 Intrusive

Metagraywacke

Metapelites

S2 – Foliation

F2T – Foliation
Transposition

F2 – Folds

Section across the ´Cachorro Bravo orebody at Córrego do Sítio

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

137

Ore Reserve modifying factors

as at 31 December 2009

Mine call

Metal-

Cut-off

Stoping

factor

lurgical

weighted

width

Dilution

RRF

MRF

(MCF) recovery

Mine

g/t

Brasil Mineração
Cuiabá (main area)

3.53

800

–

94.5

93.0

Lamego (sulphides)

3.38

3,500

–

95.0

93.0

Córrego do Sítio
CdS oxides (south area)

1.18

–

92.0

88.0

CdS sulphides (south area)

3.60

200

–

95.0

88.0

Serra Grande
Mina 3

2.37

–

95.0

94.6

Mina Nova

1.87

–

95.0

90.9

Open pit

1.00

–

95.0

92.9

Palmeiras

2.37

–

95.0

95.9

Pequizao

2.37

–

95.0

94.7

Total stockpiles

3.20

–

Brazil – Brasil Mineração

Brasil Mineração

Brasil Mineração has mining rights over 61,864ha in the state of Minas Gerais in south-eastern Brazil. The Brasil Mineração
complex is located in the municipalities of Nova Lima, Sabará and Santa Bárbara, south and east of the city of Belo Horizonte
and within the mining district referred to as the Iron Quadrangle (Quadrilátero Ferrífero). This area hosts numerous historic and
current gold mining operations, as well as a number of open-pit limestone and iron ore operations. Currently AngloGold
Ashanti mines gold-bearing ore at the Cuiabá underground mine and from the Córrego do Sítio heap-leach mine.

Cuiabá

The gold mineralisation at Cuiabá mine is associated with sulphides and quartz veins in BIF and volcanic sequences. Where
the BIF is mineralised, the ore appears strongly stratiform due to the selective sulphidation of the iron-rich layers. Steeply
plunging shear zones tend to control the ore shoots, which commonly trend parallel to intersections between the shears and
other structures. The controlling mineralisation structures are the intersection of thrust faults with tight isoclinal folds in a ductile
environment. Mineralisation is due to the interaction of low salinity carbon dioxide rich fluids with the high-iron BIF, basalts and
carbonaceous graphitic schists. Sulphide mineralisation consists of pyrite and pyrrhotite with subordinate arsenopyrite and
chalcopyrite; the latter tends to occur as a late-stage fracture fill and is not associated with gold mineralisation. Wallrock
alteration is typically carbonate, potassic and silicic.

Córrego do Sítio

The Córrego do Sítio orebodies are situated about 30km to the south-east of Cuiabá mine and consist of narrow north-
east/south-west elongated lenses dipping at 20º to 30º. Córrego do Sítio is an orogenic type deposit and comprises many
hydrothermal lodes with quartz veins and low sulphide content disseminated in the wall rocks. The mineralised orebodies are
narrow, elongated and folded. In general, the mineralised orebodies are sericitic zones and quartz veinlets. The gold occurs
as microscopic or sub-microscopic inclusions in arsenopyrite and sometimes in berthierite. Other typical sulphide minerals in
the orebodies are pyrrhotite, pyrite and chalcopyrite.

South America – Brazil – Brasil Mineração

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

138

Legend orebodies

Fonte Grande Sul

Serrotinho

Balancao

Galinheiro

Canta Galo

Level 08

Level 11

Level 14

Level 21

Cuiabá mine – orebodies

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

139

Lamego

The Lamego mine is located in the northwestern part of the Iron Quadrangle metallogenetic province, close to the Cuiabá

gold mine. Mineralisation in Lamego’s deposit is characterised by orebodies associated with shear zones in both BIF and

metacherts. The proportion of these lithotypes varies substantially from one orebody to another. In the BIF, sulphide

mineralisation occurs, while in the metachert and the quartz veins the gold occurs either as native gold or in sulphides. The

orebodies are characterised by sulphidation in the form of disseminated sulphide bands or as fracture filling. The plunge of

the orebodies coincides both with the fold axis of the first two structural events and with stretches in the same direction as

the local mineral lineation.

100m

Legend
DB3/DB1 Metabasic
intrusives.

RPP/RP
Metassediments

Mineralized Zone
Quartz Veins with
Arsenopyrite, Berthierite
and Pyrrhotite.

BIF Banded Iron
Formation

DDH/Au Hist.

4,98m @ 6,84g/t

1.85m @ 6,38g/t

15,90m @ 9,48g/t

Section across the Sangue de Boi orebody at Córrego do Sítio

South America – Brazil – Brasil Mineração

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

140

MMV Other

The MMV Other Mineral Resource comprises the Mineral Resource from the currently closed underground mines of Raposos

and Morro da Gloria, together with the Luzia da Motta open pit. All of these operations are located within a radius of 4km to

the Queiroz plant and Nova Lima city. The Raposos sequence is interpreted as a ductile thrust event and the main mineralised

area is associated with an anticlinal (isoclinal) fold of the same structural event. The stratigraphy sequence is repeated by folds

and consists of ultramafics, komatiitic basalts, basalts and andesites with layers of BIF. Pelites and metavolcanoclastic occur

at the top of the sequence. The mineralisation is located in folds and shear zones and occurs essentially in the BIF layers. The

orebodies are characteristically surrounded by concentric zones of hydrothermal alteration consisting of sericitisation,

carbonatisation and chloritisation. In the oxidised ore the gold tends to be finer (10 to 30 microns) and occurs in limonite.

Exploration

The Raposos mine is currently being explored with underground drilling, whilst Morro da Gloria Mine and Luzia da Motta are

targeted with surface drillholes. A dewatering program at Morro da Gloria is also in progress in order to access the orebodies.

The programme is intended to confirm and convert an Inferred Mineral Resource to the Indicated Mineral Resource category

by drilling patterns of drillholes at 60m along the plunge and 30m along the strike of the orebodies.

Projects

A conceptual study on the Cuiabá future mine was started in 2009. The strategy is to optimise Cuiabá future mine production,

without abandoning the narrow vein orebodies at the end of the mine life.

The project which comprises the MMV Other Mineral Resource at Brasil Mineração is named Nova Lima Sul (Nova Lima

South). The objective of this project is to set up a system of production that will generate sufficient ore to feed the current

spare capacity at the Queiroz plant.

Main zone: Banded iron
formations and quartz veins

Upper zone: Banded iron
formations and quartz veins

Metabasic Intrusive

-100

+100

-200

+200

-300

+300

-400

-500

-600

300

São Bento Mine

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

141

Mineral Resource estimation

The Mineral Resource Estimation is updated as part of the annual evaluation process. The geostatistical method used for

estimation is ordinary kriging using the lithology as the indicator. The Cuiabá mine dataset consists of channel samples and

drillhole samples. The 3D modelling and estimation is done with two domains: the thick orebodies, comprised by the Fonte

Grande Sul and Serrotinho orebodies and the narrow vein domain of the Balancão, Galinheiro and Canta Galo orebodies.

All channel and drillhole samples are used in the 3D geological models and the lithological maps of the orebodies are used to

identify the rock types. A simulation technique is used to determine the uncertainty in the orebody block-models. SGS

(Sequential Gaussian Simulation) and SIS (Sequential Indicator Simulation) methods are use to simulate the rock types (SIS)

and the grade (SGS) combining the results in an uncertainty analysis.

Raposos and Morro da Glória are estimated as the polygonal estimates (considering a weighted average of the samples over

two drilled or open panels and an average is applied for the lower panels where no drilling information is available). Both

Raposos and Morro da Glória have the information captured into datasets and preliminary estimation exercises confirm the

current numbers in the statement (Raposos by uniform conditioning method and Morro da Glória by ordinary kriging). Luzia

da Motta estimates come from ordinary kriging estimates for each target based on the available surface drilling which has a

minimum pattern of 100 x 100m.

Mineral Resource (attributable)

as at 31 December 2009

Contained

Tonnes

Grade

gold

Brasil Mineração

Category

million

g/t

tonnes

Moz

CdS oxides

Measured

–

(north area/Sao Bento)

Indicated

–

Inferred

0.68

3.19

2.17

0.07

Total

0.68

3.19

2.17

0.07

CdS oxides (south area)

Measured

1.12

4.58

5.12

0.16

Indicated

0.86

3.88

3.32

0.11

Inferred

1.02

4.03

4.11

0.13

Total

3.00

4.19

12.56

0.40

CdS sulphides

Measured

–

(north area/Sao Bento)

Indicated

–

Inferred

3.43

7.14

24.50

0.79

Total

3.43

7.14

24.50

0.79

CdS sulphides (south area)

Measured

1.14

8.24

9.38

0.30

Indicated

4.10

6.71

27.53

0.89

Inferred

4.57

7.07

32.31

1.04

Total

9.81

7.05

69.21

2.23

CdS transition

Measured

–

(north area/Sao Bento)

Indicated

–

Inferred

0.04

2.31

0.10

0.00

Total

0.04

2.31

0.10

0.00

CdS transition (south area)

Measured

0.08

8.69

0.71

0.02

Indicated

0.39

7.60

2.94

0.09

Inferred

0.30

6.03

1.79

0.06

Total

0.76

7.11

5.44

0.17

Cuiabá (main area)

Measured

4.50

8.16

36.72

1.18

Indicated

3.91

6.42

25.10

0.81

Inferred

10.71

8.05

86.22

2.77

Total

19.12

7.74

148.04

4.76

Cuiabá (secondary area)

Measured

0.84

6.11

5.12

0.16

Indicated

0.17

6.78

1.15

0.04

Inferred

0.32

6.08

1.92

0.06

Total

1.32

6.19

8.19

0.26

South America – Brazil – Brasil Mineração

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

142

Mineral Resource (attributable) cont.

as at 31 December 2009

Contained

Tonnes

Grade

gold

Brasil Mineração

Category

million

g/t

tonnes

Moz

Lamego (sulphides)

Measured

0.44

5.68

2.47

0.08

Indicated

3.17

5.92

18.78

0.60

Inferred

3.02

4.92

14.88

0.48

Total

6.63

5.45

36.14

1.16

Luzia Da Motta oxides

Measured

0.19

3.23

0.63

0.02

Indicated

0.50

3.00

1.51

0.05

Inferred

0.23

2.97

0.70

0.02

Total

0.93

3.04

2.83

0.09

Morro Da Gloria sulphides

Measured

0.06

7.21

0.46

0.01

Indicated

0.05

5.92

0.29

0.01

Inferred

0.74

6.71

4.95

0.16

Total

0.85

6.70

5.70

0.18

Raposos sulphides

Measured

0.35

6.77

2.37

0.08

Indicated

0.86

6.65

5.74

0.18

Inferred

2.18

7.13

15.55

0.50

Total

3.39

6.97

23.66

0.76

Brasil Mineração

Total

49.97

6.77

338.54

10.88

Exclusive Mineral Resource

as at 31 December 2009

Contained

Tonnes

Grade

gold

Brasil Mineração

Category

million

g/t

tonnes

Moz

Measured

4.21

6.49

27.30

0.88

Indicated

8.00

5.82

46.58

1.50

Inferred

26.17

7.01

183.50

5.90

Brasil Mineração

Total

38.38

6.71

257.39

8.28

Exclusive Mineral Resource

The Exclusive Mineral Resource is defined as the inclusive Mineral Resource less the Ore Reserve before dilution and other

factors are applied. At Cuiabá the main Exclusive Mineral Resource (0.30Moz) comes from the main area (current production

orebodies). This Exclusive Mineral Resource is basically an Inferred Mineral Resource that will be drilled according to the

conversion plan and is located below level L15 (FGS-SER) and L13 (BAL-GAL-CGA). The secondary area comprises old

panels and satellite orebodies and is considered an Exclusive Mineral Resource (0.026Moz) until the satellites orebodies are

drilled out.

Mineral Resource below infrastructure

as at 31 December 2009

Contained

Tonnes

Grade

gold

Brasil Mineração

Category

million

g/t

tonnes

Moz

Cuiabá

Total

12.80

7.76

99.34

3.19

Córrego do Sítio

Total

8.33

6.99

58.22

1.87

Lamego

Total

3.49

5.30

18.50

0.59

Brasil Mineração

Total

24.63

7.15

176.05

5.66

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

143

Mineral Resource by-products: Sulphur (S)

as at 31 December 2009

Tonnes

Grade

Sulphur

Pounds

Brasil Mineração

Category

million

(%S)

(Mt)

million

Measured

5.77

6.0

0.35

768

Indicated 7.25

5.8

0.42

934

Inferred 14.05

6.7

0.94

2,081

Brasil Mineração

Total

27.07

6.3

1.72

3,783

Ore Reserve estimation

The gold price and operational costs are taken into consideration in determining the Ore Reserve. The Ore Reserve is

scheduled and designed using Mine2-4D

computer software. Mining parameters such as the mining method, minimum

mining width, MCF, dilution and recovery are all applied in the process.

Ore Reserve

as at 31 December 2009

Contained

Tonnes

Grade

gold

Brasil Mineração

Category

million

g/t

tonnes

Moz

CdS oxides (south area)

Proved

0.17

5.66

0.95

0.03

Probable

0.08

4.10

0.33

0.01

Total

0.25

5.15

1.29

0.04

CdS sulphides (south area)

Proved

0.33

6.47

2.13

0.07

Probable

1.90

5.61

10.66

0.34

Total

2.23

5.74

12.79

0.41

Cuiabá (main area)

Proved

3.95

7.12

28.16

0.91

Probable

3.46

5.73

19.83

0.64

Total

7.42

6.47

47.99

1.54

Lamego (sulphides)

Proved

0.16

4.73

0.75

0.02

Probable

0.99

4.98

4.95

0.16

Total

1.15

4.95

5.70

0.18

Brasil Mineração

Total

11.05

6.14

67.77

2.18

Brasil Mineração: Mineral Resource reconciliation

2008 vs 2009

Ounces (millions)

10.53

2008

-0.39

Depletion

0.00
Gold

price

0.29

Exploration

0.46

Metho-

dology

10.89

2009

0.00
Cost

9.00

0.00

Other

11.00

10.00

10.50

9.50

Change

Brasil Mineração: Ore Reserve reconciliation

2008 vs 2009

Ounces (millions)

2.56

2008

-0.35

Depletion

-0.05

Model

Change

0.01
New

ounces

from

projects

-0.08

Scope

Change

2.18

2009

0.01

Change in

Economics

1.00

0.08

Other

2.00

2.50

1.50

Change

South America – Brazil – Brasil Mineração

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

144

Ore Reserve by-products: Sulphur (S)

as at 31 December 2009

Tonnes

Grade

Contained

Pounds

Brasil Mineração

Category

million

(%S)

sulphur (Mt)

million

Proved

4.11

4.9

0.20

440

Inferred 4.46

4.7

0.21

462

Brasil Mineração

Total

8.57

4.8

0.41

902

Ore Reserve below infrastructure

as at 31 December 2009

Contained

Tonnes

Grade

gold

Brasil Mineração

Category

million

g/t

tonnes

Moz

Cuiabá

Total

1.83

5.83

10.66

0.34

Córrego do Sítio

Total

1.90

5.61

10.66

0.34

Lamego

Total

0.46

4.71

2.17

0.07

Brasil Mineração

Total

4.19

5.60

23.49

0.76

Competent persons

Professional

Registration

Relevant

Category

Name

organisation

number

experience

Córrego do Sítio

Mineral Resource

P de Tarso Ferreira

AusIMM

224828

24 years

Ore Reserve

MG Simoni

AusIMM

224826

17 years

Cuiabá

Mineral Resource

P de Tarso Ferreira

AusIMM

224828

24 years

Ore Reserve

S Botelho

AusIMM

224833

23 years

Lamego

Mineral Resource

P de Tarso Ferreira

AusIMM

224828

24 years

Ore Reserve

L Nunes Coelho

AusIMM

222679

8 years

MMV Other

Mineral Resource

P de Tarso Ferreira

AusIMM

224828

years

Brasil Mineração – surface (metric)

Tonnes above
cut-off (millions)

0.00

Cut-off grade (g/t)

20.00

Average grade
above cut-off (g/t)

Tonnes above cut-off

Ave grade above cut-off

16.00

12.00

8.00

4.00

2.0

22.0

6.0

10.0

14.0

18.0

0.0

2.5

2.0

1.5

1.0

0.5

Brasil Mineração – underground (metric)

Tonnes above
cut-off (millions)

0.00

Cut-off grade (g/t)

20.00

Average grade
above cut-off (g/t)

Tonnes above cut-off

Ave grade above cut-off

16.00

12.00

8.00

4.00

6.0

26.0

10.0

14.0

18.0

22.0

0.0

25.0

20.0

15.0

10.0

5.5

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

South America – Brazil – Serra Grande

145

Brazil – Serra Grande

Location

Serra Grande is situated approximately 3km south of the city of Crixás in the Goiás State of Central Brazil. This location is

approximately 260km northwest of Brasilia, the country’s capital.

History

The area was first exploited by garimpeiros as open-pit workings. In 1973, Inco Limited (Inco) began reconnaissance work

including mapping, magnetic surveys, and diamond drilling. In 1976, Inco discovered gold mineralisation in the mine area. In

April 1983, Kennecott Corporation signed an option agreement to gain a 50% interest in the project. In 1986, Kennecott

Corporation sold its participation in the project to an affiliate of Anglo American plc, which continued underground

development and exploration and completed a feasibility study in 1987.

Mining started in 1987, with ore being stockpiled. The first gold bullion was produced on November 14, 1989. TVX Gold Inc.

(TVX Gold) acquired its interest in the property on January 7, 1991, through a merger with Inco. TVX Gold was acquired by

Kinross in early 2003, giving Kinross 50% ownership of the property.

Currently, Serra Grande is equally owned by AngloGold Ashanti Limited and Kinross. AngloGold Ashanti is the mine operator.

Geology

The deposits occur within the Crixás Greenstone Belt, Rio Vermelho and Ribeirão das Antes formations, of the Upper

Archaean Pilar de Goia’s Group (~2.7Ga). The stratigraphy of the belt is dominated by basic and ultrabasic rocks in the lower

sequences, with volcano-sedimentary units forming the upper successions. The gold deposits are hosted by a sequence of

schist, volcanic, and carbonate rocks, which occur in a greenstone belt structural setting. Gold is mostly associated with

quartz veins and locally with more massive sulphides. The ore shoots plunge to the northwest at between 6° and 35°. The

current understanding of the regional geology indicates that the stratigraphy in the area of the mine has been overturned and

thrust to the east.

-100

100

-200

200

-300

-400

300

-500

-600

F-144

F-129

F-127

F-32

F-495

F-72

F-69

F-66

F-44

F-65

K-1

K-5

K-49

K-21

F-113

F-115

F-347

F-383

F-350

F-441

F-445

F-462

F-472

K-85

K-72

F-159

Legend

Basalt

Carbonate schist

Dolomitic marble

Quartz-chorite schist

Graywacke

Mineralisation

Longitudinal section Mina 3

Serra Grande: Ore Reserve reconciliation

2008 vs 2009

Ounces (millions)

0.36

2008

-0.09

Depletion

0.08

Model

Change

0.00
New

ounces

from

projects

0.00

Scope

Change

0.35

2009

0.00

Change in

Economics

0.00

Other

Serra Grande: Mineral Resource reconciliation

2008 vs 2009

Ounces (millions)

0.98

2008

-0.10

Depletion

0.00
Gold

price

0.11

Exploration

0.05

Metho-

dology

1.03

2009

0.00
Cost

0.00

Other

Change

0.00

1.00

0.50

0.00

0.30

0.40

0.20

0.10

Mineral Resource (attributable)

as at 31 December 2009

Contained

Tonnes

Grade

gold

Serra Grande

Category

million

g/t

tonnes

Moz

Mina 3

Measured

0.43

4.91

2.09

0.07

Indicated

0.45

5.47

2.48

0.08

Inferred

0.78

4.87

3.77

0.12

Total

1.65

5.04

8.35

0.27

Mina Nova

Measured

1.24

3.55

4.41

0.14

Indicated

0.21

2.94

0.60

0.02

Inferred

0.34

3.67

1.25

0.04

Total

1.79

3.50

6.27

0.20

Open pit

Measured

0.70

3.83

2.68

0.09

Indicated

0.38

2.99

1.12

0.04

Inferred

–

Total

1.08

3.54

3.80

0.12

Palmeiras

Measured

0.12

5.40

0.63

0.02

Indicated

0.12

5.90

0.70

0.02

Inferred

0.59

5.82

3.42

0.11

Total

0.82

5.77

4.75

0.15

Pequizao

Measured

–

Indicated

–

Inferred

1.58

5.52

8.71

0.28

Total

1.58

5.52

8.71

0.28

Total stockpiles

Measured

0.04

3.20

0.14

0.00

Indicated

–

Inferred

–

Total

0.04

3.20

0.14

0.00

Serra Grande

Total

6.96

4.60

32.01

1.03

Exclusive Mineral Resource

as at 31 December 2009

Contained

Tonnes

Grade

gold

Serra Grande

Category

million

g/t

tonnes

Moz

Measured

0.10

3.13

0.32

0.01

Indicated

0.20

3.53

0.71

0.02

Inferred

3.28

5.23

17.15

0.55

Serra Grande

Total

3.58

5.07

18.18

0.58

South America – Brazil – Serra Grande

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

146

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

147

Ore Reserve

as at 31 December 2009

Contained

Tonnes

Grade

gold

Serra Grande

Category

million

g/t

tonnes

Moz

Mina 3

Proved

0.34

4.55

1.56

0.05

Probable

0.30

5.45

1.64

0.05

Total

0.64

4.97

3.20

0.10

Mina Nova

Proved

0.86

3.19

2.75

0.09

Probable

0.12

3.12

0.38

0.01

Total

0.98

3.18

3.13

0.10

Open pit

Proved

0.69

3.52

2.43

0.08

Probable

0.29

2.66

0.77

0.02

Total

0.98

3.27

3.20

0.10

Palmeiras

Proved

0.12

4.07

0.51

0.02

Probable

0.15

4.33

0.64

0.02

Total

0.27

4.21

1.15

0.04

Total stockpiles

Proved

0.04

3.20

0.14

0.00

Probable

–

Total

0.04

3.20

0.14

0.00

Serra Grande

Total

2.92

3.70

10.81

0.35

Competent persons

Professional

Registration

Relevant

Category

Name

organisation

number

experience

Mineral Resource

Edijarbas Martins Araujo

AusIMM

224825

20 years

Ore Reserve

Edijarbas Martins Araujo

AusIMM

224825

20 years

Serra Grande – surface (metric)

Tonnes above
cut-off (millions)

Cut-off grade (g/t)

Average grade
above cut-off (g/t)

Tonnes above cut-off

Ave grade above cut-off

0.00

9.00

2.00

1.00

0.0

1.0

0.8

0.5

0.3

3.00

4.00

5.00

6.00

7.00

8.00

2.0

8.0

10.0

14.0

6.0

4.0

12.0

Serra Grande – underground (metric)

Tonnes above
cut-off (millions)

1.00

Cut-off grade (g/t)

25.00

Average grade above cut-off (g/t)

Tonnes above cut-off

Ave grade above cut-off

5.00

7.00

9.00

3.00

11.00

4.0

6.0

8.0

20.0

12.0

14.0

18.0

10.0

16.0

0.0

2.0

1.0

6.0

3.0

4.0

5.0

Colombia

Regional overview

In 2003, AngloGold Ashanti was the first company to start a systematic grassroots exploration program in Colombia. Since

the start of exploration, AngloGold Ashanti has staked a total of 13.9 million hectares of exploration claims countrywide. Of

these, 11.2 million hectares have been explored with systematic stream sediment sampling, prospecting and in some areas,

airborne geophysics. As a result of this work, 423 mineral contracts covering 825,025 ha are active with follow-up work from

drill target definition through pre-feasibility studies either operated 100% by AngloGold Ashanti or in joint ventures with

partners B2Gold Corp. (B2Gold), Mineros S.A, Mega Uranium and Glencore. AngloGold Ashanti has thus far relinquished

10.4 million hectares and plans to complete first stage exploration on the remaining 2.7 million hectares. To date the

programme has generated 42 drill targets of which 24 have been drilled with two resulting in significant discoveries, Gramalote

and La Colosa.

Mineral Resource and Ore Reserve gold prices and exchange rates

Units

2009

2008

Gold price – Mineral Resource

US$/oz

1,025

1,000

South America – Colombia

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

148

500km

Colombia

Gramalote

Quebradona

Rio Dulce

La Colosa

Cartagena

Bogotá

Prospect

Town

JV areas
B2Gold
Glencore
Mineros SA
AngloGold Ashanti

Tenure
Application area
Area granted

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

149

Details of average drillhole spacing and type in relation to Mineral Resource classification

Type of drilling

Mine/

Spacing

Diamond

Blast-

Other

Comments

Project

Category

m (- x -)

hole

Gramalote

Measured

–

Indicated

30 x 30

–

2 different drill directions: W-E, SW-NE

Inferred

50 x 50

–

2 different drill directions: W-E, SW-NE

Grade control –

–

Not applicable

La Colosa

Measured

–

Indicated

–

Inferred

100 x 100

–

Additional geological drillholes

(HQ, NQ) were drilled at different

spacings and different angles

Grade control –

–

Not applicable

Colombia – Gramalote

Location

The Gramalote prospect is located on the eastern side of the Central Cordillera some 80km northeast of Medellin and 230km

northwest of Bogota.

The Gramalote project is a joint venture with Vancouver-based B2Gold who is the operator of the project. B2Gold holds 49%

and is required to take the project to feasibility to obtain an additional 2%.

Geology

Mineralisation is hosted in the Antioquia batholith and bears a strong relationship to Cretaceous-Palaeocene magmatic-

hydrothermal pulses. Hornblende granodiorites and porphyritic dykes constitute the older sub-regional host. Biotitic tonalites

and granodiorites are intimately associated with Gramalote-style mineralisation.

The sub-regional control of targets is defined by dextral extensional shear zones orientated north-west/south-east to

north-north-west/south-east-east. The four principal controls on a local scale are:

Extensional Steps and Tension Gashes

Main Damage and Transfer Zones

. Extensive tectonic syntaxes

Deflections of sub-regional shear zones

Hydrothermal alteration is restricted to structurally controlled veins and veinlets. The four principal alteration styles are:

Potassic K-Feldspar, Quartz-Sericite, Sericite-Carbonate and Carbonate-Epidote-Chlorite.

Mineral Resource estimation

At Gramalote, some 12,551m of diamond drilling (43 holes) have been used to support the calculation of an Inferred and

Indicated Mineral Resource.

The Mineral Resource estimate was generated using an indicator kriging method. All available geological drillhole, surface and

underground mapping information has been validated for use in the modelling process.

Mineral Resource (attributable)

as at 31 December 2009

Contained

Tonnes

Grade

gold

Gramalote

Category

million

g/t

tonnes

Moz

Main zone

Measured

–

Indicated

15.16

0.93

14.18

0.46

Inferred

21.09

0.87

18.28

0.59

Gramalote

Total

36.25

0.90

32.46

1.04

Exclusive Mineral Resource

as at 31 December 2009

Contained

Tonnes

Grade

gold

Gramalote

Category

million

g/t

tonnes

Moz

Measured

–

Indicated

15.16

0.93

14.18

0.46

Inferred

21.09

0.87

18.28

0.59

Gramalote

Total

36.25

0.90

32.46

1.04

South America – Colombia – Gramalote

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

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AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

151

Competent person

Professional

Registration

Relevant

Category

Name

organisation

number

experience

Mineral Resource

Rudolf Jahoda

AusIMM

990544

20 years

Gramalote: Mineral Resource reconciliation

2008 vs 2009

Ounces (millions)

1.04

2008

0.00

Depletion

0.00
Gold

price

0.46

Exploration

0.00

Metho-

dology

1.04

2009

0.00
Cost

0.00

-0.45
Other

1.50

1.00

0.50

Change

Gramalote – surface (metric)

Tonnes above
cut-off (millions)

Cut-off grade (g/t)

Average grade above cut-off (g/t)

Tonnes above cut-off

Ave grade above cut-off

0.4

2.6

1.6

1.8

2.0

2.2

2.4

1.2

1.4

0.8

1.0

0.6

0.00

1.75

1.25

1.00

0.75

0.50

1.50

0.25

0.0

90.0

80.0

70.0

60.0

50.0

40.0

30.0

20.0

10.0

Colombia – La Colosa

La Colosa is a significant “in-house” greenfields project discovered by AngloGold Ashanti’s Colombia greenfields exploration

team during 2006. The project is 100% owned by AngloGold Ashanti and located 150km west of Colombia’s capital city,

Bogota and 30km west of the major town, Ibague, in the department of Tolima.

Geology

The La Colosa copper-poor porphyry gold system is genetically associated with Miocene porphyritic intrusive centres intruded

into Paleozoic schists. The highest grade gold mineralisation is closely associated with a suite of early porphyry

intrusions/breccias with potassic and sodic-calcic alteration, 5% pyrite and traces of chalcopyrite and molybdenite. The

coherent body suffered little dilution by intermineral/postmineral phases or fault propagation.

The early porphyry stage is divided into three phases. The earliest is a crowded diorite porphyry and the late-mineral dacite

porphyry is typified by rounded quartz phenocrysts, locally up to 1cm across.

Contacts between porphyry phases are commonly characterised by broad zones of intrusion breccias. The texture of the

breccias is commonly diffuse implying varied degrees of assimilations of the earlier by later phases.

Alteration and mineralisation

The paragenesis of the main alteration/mineralisation mineral assemblage observed at Colosa starts with pervasive sodic-calcic

alteration overprinted by potassic alteration and in turn cut by a sodic-calcic event. The two dominant alteration types are the

potassic and second sodic-calcic.

The three early porphyries, and their associated intrusion breccias appear to have been altered and mineralised at the same

time. There is scant evidence for veinlet introduction between the three intrusive events. The gold content of the three early

porphyry phases is similar.

The main control of gold grade in the diorite/dacite intrusive stock is the intrusive phase where the mineralisation is hosted.

Early intrusive phases present the highest and more consistent gold grade (average: >1.1g/t). The inter-mineral diorite has

average gold grades less than 0.7g/t, the late dacite phase generally only has >300ppb gold grades close to the contact with

early diorite phases. Within the gold grade variation that characterises each intrusive phase, gold grades present a second

order correlation with the alteration assemblage. The Ca-Na and K alteration with or without chloritic alteration have the best

gold grades. Areas with intense illite alteration generally have average gold grades less than 0.3g/t. The contact breccias and

hornfels developed at the contact between porphyritic rock and schist present a mineralised haloe of at least 60m with an

average gold grade of >1g/t.

Gold deportment

Gold grains vary from almost pure gold to a much lesser amount of gold-silver telluride. The chemical composition of Au-Ag-

Te grains is variable. The gold grains are generally fine grained around 15 microns. Coarse grained gold (116 microns) was

found in samples from metamorphic rocks. Gold grains occur both liberated and ”locked” in sulphides and silicates. The

percentage is not clearly established, but a significant amount of gold is associated with silicates such as K-feldspar and

plagioclase. Sulphide minerals associated with gold are dominantly pyrite and in a much lesser amount pyrrhotite

and arsenopyrite.

Mineral Resource estimation

At La Colosa, some 17,039m of diamond drilling (59 holes) have been used to support the calculation of an Inferred

Mineral Resource.

Gold grades were estimated using ordinary block kriging methodology. Kriging was performed into a parent block size

of 50m by 50m by 10m for lithological domains (wireframes) in the mineralised envelope and for the waste surrounding

mineralisation. All available geological drill-hole, surface sampling and mapping information has been validated for use in the

modelling process.

South America – Colombia – La Colosa

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

152

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

153

Mineral Resource (attributable)

as at 31 December 2009

Contained

Tonnes

Grade

gold

La Colosa

Category

million

g/t

tonnes

Moz

Surface

Measured

–

Indicated

–

Inferred

381.42

1.00

383.12

12.32

La Colosa

Total

381.42

1.00

383.12

12.32

Exclusive Mineral Resource

as at 31 December 2009

Contained

Tonnes

Grade

gold

La Colosa

Category

million

g/t

tonnes

Moz

Measured

–

Indicated

–

Inferred

381.42

1.00

383.12

12.32

La Colosa

Total

381.42

1.00

383.12

12.32

Competent person

Professional

Registration

Relevant

Category

Name

organisation

number

experience

Mineral Resource

Rudolf Jahoda

AusIMM

990544

20 years

La Colosa: Mineral Resource reconciliation

2008 vs 2009

Ounces (millions)

12.32

2008

0.00

Depletion

0.00
Gold

price

0.00

Exploration

0.00

Metho-

dology

12.32

2009

0.00
Cost

10.00

0.00

Other

12.00

11.00

Change

La Colosa – surface (metric)

Tonnes above
cut-off (millions)

Cut-off grade (g/t)

Average grade above cut-off (g/t)

Tonnes above cut-off

Ave grade above cut-off

0.5

2.0

2.3

2.5

1.8

1.0

1.5

1.3

0.0

600.0

500.0

400.0

300.0

100.0

200.0

0.00

2.00

0.40

0.80

1.20

1.60

Definitions

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

154

Definitions

Mineral Resource

The JORC definition of a Mineral Resource is as follows:

A ‘Mineral Resource’ is a concentration or occurrence of material of intrinsic economic interest in or on the earth’s crust in

such form, quality and quantity that there are reasonable prospects for eventual economic extraction. The location, quantity,

grade, geological characteristics and continuity of a Mineral Resource are known, estimated or interpreted from specific

geological evidence and knowledge. The Mineral Resource is subdivided, in order of increasing geological confidence, into

Inferred, Indicated and Measured categories.

The Mineral Resource is estimated using all drilling and sampling information along with a detailed geological model. The

geological models are based on core logging, mapping, geophysics, geochemistry and geological understanding that have

been developed for each deposit. Most of the AngloGold Ashanti deposits have been the subject of research by world experts

in the class of gold deposit.

The grade estimation for each deposit has been developed over the life of the mine and is constantly reviewed in terms of

grade control information and reconciliation with the metallurgical plant. In general, the deep South African mines utilise a

process of compound log normal macro kriging for the estimation of the Mineral Resource, while the open pits and shallow

underground mines generally use recoverable Mineral Resource models, estimated using uniform conditioning or multiple

indicator kriging.

In order to comply with the economic requirement of the definition of Mineral Resource, all AngloGold Ashanti Mineral

Resources are constrained at an upside gold price, with all other parameters being kept the same as used for estimation of

the Ore Reserve. In the underground gold mines, scoping studies are conducted on all coherent blocks of ground that lie

above the calculated Mineral Resource cut-off. These studies include all cost and capital requirements to access the block.

In the case of open pit operations, pit optimisations are conducted at the Mineral Resource gold price and all material outside

these shells is excluded from the Mineral Resource, unless it is potentially mineable from underground.

It is the opinion of AngloGold Ashanti that the Mineral Resource represents a realistic view of an upside potential to the Ore

Reserve. In interpreting the Mineral Resource it is critical to factor in the following:

•

The Mineral Resource is quoted in situ and has not been corrected for dilution, mining losses or recovery.

•

The Mineral Resource includes a high percentage of Inferred material, which, following further exploration drilling may be

converted to an Indicated or Measured Mineral Resource.

•

Many of the areas lying in the exclusive Mineral Resource are currently being actively drilled and are the subject of economic

and technical studies. It can, however, not be assumed at this stage that the company has intent to mine these areas.

Mineral Resource classification is based on the '15% Rule'. A Measured Mineral Resource should be expected to be within

15% of the quarterly metal estimate at least 90% of the time, while for an Indicated Mineral Resource estimate the annual

metal estimate should be within 15% of the metal estimated at least 90% of the time. For an Inferred Mineral Resource the

annual error may for 90% of the time, be greater than 15%.

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

155

The process and methodology of classification are at the discretion of the competent person and involves expressing the '15%

Rule' as a required level of information, in tangible terms the spacing of the drillhole or tunnel spacing in a particular deposit.

Techniques such as conditional simulation or even an empirical reconciliation-based approach are employed. However, all

operations are responsible for demonstrating, through reconciliation, that their classification system conforms to the 15% rule

set out above.

AngloGold Ashanti quotes its Mineral Resource as inclusive of the Ore Reserve. However, in this document the exclusive

Mineral Resource is also quoted. The exclusive Mineral Resource is defined as the inclusive Mineral Resource less the Ore

Reserve before dilution and other factors are applied.

The exclusive Mineral Resource consists of the following components:

•

Inferred Mineral Resource within the optimised shell;

•

Other Inferred Mineral Resource;

•

Measured and Indicated Mineral Resource that lies between the life of mine (LOM) pit shell/mine design and the Mineral

Resource pit shell. This material will become economic if the gold price increases; and

•

Mineral Resource where the technical studies to engineer an Ore Reserve have not yet been completed.

Ore Reserve

The JORC definition of an Ore Reserve is as follows:

An ‘Ore Reserve’ is the economically mineable part of a Measured and/or Indicated Mineral Resource. It includes diluting

materials and allowances for losses, which may occur when the material is mined. Appropriate assessments and studies have

been carried out, and include consideration of and modification by realistically assumed mining, metallurgical, economic,

marketing, legal, environmental, social and governmental factors. These assessments demonstrate at the time of reporting

that extraction could reasonably be justified. The Ore Reserve is sub-divided, in order of increasing confidence, into the

Probable Ore Reserve and the Proved Ore Reserve.

In the underground operations, the Ore Reserve is based on a full mine design and in the case of open pits on a pit

optimisation followed by a final pit design. The Ore Reserve is reported according to tonnage, mean grade(s), and contained

metal inclusive of mining dilution, mining ore losses and mine call factors. These modifying factors are based on

measurements, rather than estimates. Tonnage and grade estimates for surface stockpile materials that meet Ore Reserve

criteria are itemised separately.

Only the Ore Reserve included for treatment in the business unit plan production schedule is considered in the Ore Reserve

statement. These sometimes include marginal or sub-grade ores as well as the Inferred Mineral Resource. This Inferred

Mineral Resource is not included in the Ore Reserve statement.

For all new projects, an audited pre-feasibility (as a minimum requirement) must have been completed that demonstrates the

viability of the project and meets the company’s investment requirements. This study must be signed off at the appropriate

executive level in order to demonstrate an intent on the part of the company to proceed to feasibility and ultimately to

implement the project.

Glossary of terms

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

156

Glossary of terms

All terms

BIF

Banded Ironstone Formation. A chemically formed iron-rich sedimentary rock.

By-products

Any products that emanate from the core process of producing gold, including silver, uranium and sulphuric acid.

Calc-silicate rock

A metamorphic rock consisting mainly of calcium-bearing silicates such as diopside and wollastonite, and formed by

metamorphism of impure limestone or dolomite.

Capital expenditure

Total capital expenditure on tangible assets which includes stay-in-business and project capital.

Carbon-in-leach (CIL)

Gold is leached from a slurry of gold ore with cyanide in agitated tanks and adsorbed on to carbon granules in the same circuit.

The carbon granules are separated from the slurry and treated in an elution circuit to remove the gold.

Carbon-in-pulp (CIP)

Gold is leached conventionally from a slurry of gold ore with cyanide in agitated tanks. The leached slurry then passes into

the CIP circuit where carbon granules are mixed with the slurry and gold is adsorbed on to the carbon. The granules are

separated from the slurry and treated in an elution circuit to remove the gold.

Comminution

Comminution is the crushing and grinding of ore to make gold available for treatment. (See also “Milling”).

Contained gold

The total gold content (tons multiplied by grade) of the material being described.

Cut-off grade – surface mines (COG)

The minimum grade at which a unit of ore will be mined to achieve the desired economic outcome.

Dense media separation (DMS)

Dense media separation (using high density liquids to separate ore).

Depletion

The decrease in quantity of ore in a deposit or property resulting from extraction or production.

Development

The process of accessing an orebody through shafts and/or tunnelling in underground mining operations.

Discontinued operation

A component of an entity that, pursuant to a single plan, has been disposed of or abandoned or is classified as held-for-sale

until conditions precedent to the sale have been fulfilled.

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

157

Doré

Impure alloy of gold and silver produced at a mine to be refined to a higher purity, usually consisting of 85% gold on average.

Electro-winning

A process of recovering gold from solution by means of electrolytic chemical reaction into a form that can be smelted easily

into gold bars.

Elution

Recovery of the gold from the activated carbon into solution before zinc precipitation or electro-winning.

Full grade ore (FGO)

FGO is ore material with sufficient grade to carry the full operating cost. FGO cut-off is the break-even grade where cost is

representative of all costs to carry the full operation excluding direct mining cost.

Gold produced

Refined gold in a saleable form derived from the mining process.

Grade

The quantity of gold contained within a unit weight of gold-bearing material generally expressed in ounces per short ton of ore

(oz/t), or grams per metric tonne (g/t).

Leaching

Dissolution of gold from crushed or milled material, including reclaimed slime, prior to adsorption on to activated carbon.

Life of mine (LOM)

Number of years that the operation is planning to mine and treat ore, and is taken from the current mine plan.

Marginal ore (MO)

MO is ore material with grade below the FGO cut-off that can be economically treated at the end of mine life when overhead

and mining costs are reduced. MO cut-off is the break-even grade where cost is representative of the reduced cost that will

be experienced after mining has ended.

Metallurgical plant

A processing plant erected to treat ore and extract gold.

Milling

A process of reducing broken ore to a size at which concentrating can be undertaken. (See also “Comminution”)

Mine call factor (MCF)

The ratio, expressed as a percentage, of the total quantity of recovered and unrecovered mineral product after processing

with the amount estimated in the ore based on sampling. The ratio of contained gold delivered to the metallurgical plant

divided by the estimated contained gold of ore mined based on sampling.

Mineral deposit

A mineral deposit is a concentration (or occurrence) of material of possible economic interest in or on the Earth’s crust.

Mining reconciliation factor (MRF)

This is the variance between the gold called for as defined by the ore perimeters and what the processing plant receives. It is

expressed in both a grade and tonnage number.

Glossary of terms

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

158

Ounce (oz) (troy)

Used in imperial statistics. A kilogram is equal to 32.1507 ounces. A troy ounce is equal to 31.1035 grams.

Pay limit

The grade of a unit of ore at which the revenue from the recovered mineral content of the ore is equal to the total cash cost

including Ore Reserve Development and stay-in-business capital. This grade is expressed as an in-situ value in grams per

tonne or ounces per short ton (before dilution and mineral losses).

Precipitate

The solid product of chemical reaction by fluids such as the zinc precipitation referred to below.

Price received ($/oz and R/kg)

Attributable gold income including realised non-hedge derivatives divided by attributable ounces or kilograms sold.

Productivity

An expression of labour productivity based on the ratio of grams of gold produced per month to the total number of employees

in underground mining operations.

Reclamation

In the South African context, reclamation describes the process of reclaiming slimes (tailings) dumps using high-pressure

water cannons to form a slurry which is pumped back to the metallurgical plants for processing.

Recovered grade

The recovered mineral content per unit of ore treated.

Reef

A gold-bearing sedimentary horizon, normally a conglomerate band that may contain economic levels of gold.

Refining

The final purification process of a metal or mineral.

Region

Defines the operational management divisions within AngloGold Ashanti, namely South Africa, Argentina, Australia, Brazil,

Ghana, Guinea, Mali, Namibia, Tanzania and United States of America.

Rehabilitation

The process of reclaiming land disturbed by mining to allow an appropriate post-mining use. Rehabilitation standards are

defined by country-specific laws including, but not limited to the South African Department of Minerals and Energy, the US

Bureau of Land Management, the US Forest Service, and the relevant Australian mining authorities, and address among other

issues, ground and surface water, topsoil, final slope gradient, waste handling and re-vegetation issues.

Resource reconciliation factor (RRF)

This is the variance between the resource model and the ore perimeters.

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

159

Seismic event

A sudden inelastic deformation within a given volume of rock that radiates detectable seismic energy.

Shaft

A vertical or subvertical excavation used for accessing an underground mine; for transporting personnel, equipment and

supplies; for hoisting ore and waste; for ventilation and utilities; and/or as an auxiliary exit.

Smelting

A pyro-metallurgical operation in which gold is further separated from impurities.

Stay-in-business capital

Capital expenditure to maintain existing production assets. This includes replacement of vehicles, plant and machinery, ore

reserve development and capital expenditure related to safety, health and the environment.

Stope

Underground excavation where the orebody is extracted.

Stoping

The process of excavating ore underground.

Stripping ratio

The ratio of waste tonnes to ore tonnes mined calculated as total tonnes mined less ore tonnes mined divided by ore tonnes

mined.

Tailings

Finely ground rock of low residual value from which valuable minerals have been extracted.

Tailings dam (slimes dam)

Dam facilities designed to store discarded tailings.

Tonne

Used in metric statistics. Equal to 1,000 kilograms.

Ton

Used in imperial statistics. Equal to 2,000 pounds. Referred to as a short ton.

Tonnage

Quantity of material measured in tonnes or tons.

Waste

Material that contains insufficient mineralisation for consideration for future treatment and, as such, is discarded.

Glossary of terms – Abbreviations

AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009

160

Abbreviations

Degrees

United States dollars

ARS

Argentinean peso

A$ or AUD

Australian dollars

ADS

American Depositary Share

ADR

American Depositary Receipt

ASX

Australian Securities Exchange

Contained gold

BRL

Brazilian real

capex

Capital expenditure

CLR

Carbon Leader Reef

DRC

Democratic Republic of the Congo

Grams

g/t

Grams per tonne

g/TEC

Grams per total employee costed

JORC

Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves

JSE

JSE Limited

Kilograms

Kilometres

LOM

Life of mine

M or m

Metre or million, depending on the context

Moz

Million ounces

Million tonnes or tons

Mtpa

Million tonnes/tons per annum

Ounces (troy)

oz/t

Ounces per ton

R or ZAR

South African rands

SAMREC

The South African Mineral Resource Committee

Tons (short) or tonnes (metric)

tpm

Tonnes/tons per month

tpa

Tonnes/tons per annum

tpd

Tonnes/tons per day

VCR

Ventersdorp Contact Reef

Vaal Reef

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

Euronext Paris:

Euronext Brussels:

ANG

JSE Sponsor:

UBS

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 21 772190

Fax: +233 21 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

R P Edey* (Chairman)

Dr T J Motlatsi† (Deputy Chairman)

F B Arisman#

W A Nairn†

Prof W L Nkuhlu†

S M Pityana†

* British

# American

** Australian

† South African

Officers

Company Secretary: Ms L Eatwell

Investor Relations

South Africa

Sicelo Ntuli

Telephone: +27 11 637 6339

Fax: +27 11 637 6400

E-mail: sntuli@AngloGoldAshanti.com

United States

Stewart Bailey

Telephone: +1-212-836-4303

Mobile: +1 646 717-3978

E-mail: sbailey@AngloGoldAshanti.com

General e-mail enquiries

investors@AngloGoldAshanti.com

AngloGold Ashanti website

http://www.AngloGoldAshanti.com

Company secretarial E-mail

Companysecretary@AngoGoldAshanti.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.

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 BS99 7NH

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 21 229664

Fax: +233 21 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.com\shareowner

Global BuyDIRECTSM

BoNY maintains a direct share purchase

and dividend reinvestment plan for

ANGLOGOLD ASHANTI.

Telephone: +1-888-BNY-ADRS

www.anglogoldashanti.com

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

AngloGold Ashanti Limited

Date: March 30, 2010

By: /s/ L Eatwell

Name: L EATWELL
Title: Company Secretary