Mineral Resource

When the 2008 Mineral Resource is restated to exclude the sale of Boddington (11.9Moz) and include 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 occurred before the subtraction of depletion and a decrease of 12.5Moz after the subtraction of depletion.

It should be noted that 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 models 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	Conversions of Inferred to an 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

Rounding of numbers may result in computational discrepancies

The price assumptions used in the Mineral Resource table has been disclosed in the Mineral Resource and Ore Reserve Report 2009 (PDF – 6MB)

Ore Reserve

When the 2008 Ore Reserve is restated to exclude Boddington (6.7Moz) and include Kibali (2.5Moz), the 2008 Ore Reserve is reduced from 74.9Moz to 70.7Moz. Using the restated figure, the 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 changes in the economic assumptions from 2008 to 2009 resulted in the Ore Reserve increasing by 3.2Moz while exploration and modelling resulted in a further increase of 2.7Moz.

Mineral Resource		Moz
Ore Reserve as at 31 December 2008		74.9
Sale of Boddington		(6.7)
Acquisition of Kibali		2.5
Restated 2008 Mineral Resource		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, as well as 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	New acquisition (2.5Moz) and 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

Rounding of numbers may result in computational discrepancies

The price assumptions used in the Ore Reserve table has been disclosed in the Mineral Resource and Ore Reserve Report 2009 (PDF – 6MB)

By-products

Several by-products are recovered as a result of the processing of gold Ore Reserve. 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 by-product Mineral Resource and Ore Reserve are given in the Mineral Resource and Ore Reserve Report 2009*.

External audit of Mineral Resource

During the course of the year and as part of the rolling audit programme, AngloGold Ashanti’s 2009 Mineral Resource at the following operations were submitted for external audit by the Australian-based company Quantitative Group (QG):

• Carbon leader at Mponeng, TauTona and Savuka mines
• Navachab – Main Pit
• Geita – Nyankanga
• Obuasi – KMS Deep
• Siguiri – Project Area 1
• Sadiola – Deep Sulphides
• Sunrise Dam – Underground
• 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 were evaluated. It is the company's intention to continue this process so that each of its operations will be audited, on average, every three years.

Competent persons

The information in this report relating to exploration results, Mineral Resource and Ore Reserve is based on information compiled by the Competent Persons. These individuals are identified in the expanded Mineral Resource and Ore Reserve Report 2009*. The Competent Persons consent to the inclusion of Exploration Results, Mineral Resource and Ore Reserve 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 Resource or Ore Reserve. 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.

* A detailed breakdown of Mineral Resource and Ore Reserve is provided in the Mineral Resource and Ore Reserve Report 2009 (PDF – 6MB). The report is also available in printed format on request from the AngloGold Ashanti offices at the addresses given at the back of the Annual Financial Statements.

Mineral Resource by country (attributable)

as at 31 December 2009	Category	Tonnes Million	Grade g/t	Contained gold Tonnes	Contained gold 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

Rounding of numbers may result in computational discrepancies

Exclusive Mineral Resource* by country (attributable)

as at 31 December 2009	Category	Tonnes Million	Grade g/t	Contained gold Tonnes	Contained gold 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	Measured	–	–	–	–
of the Congo	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

Rounding of numbers may result in computational discrepancies

Ore Reserve by country (attributable)

as at 31 December 2009	Category	Tonnes Million	Grade g/t	Contained gold Tonnes	Contained gold 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	78.28	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

Rounding of numbers may result in computational discrepancies