Group overview 2010
Key features 2010
- All injury frequency rate (AIFR) improved by 11% to 11.50 per million hours worked;
- Record adjusted headline earnings (excluding the impact of accelerated hedge buy-backs) of $787m, a result of improved margins due to higher received prices;
- Production of 4.52Moz at a total cash cost of $638/oz is within exchange-rate adjusted guidance;
- Geita, Cripple Creek & Victor and South Africa turnarounds successfully executed;
- Complete elimination of the hedge book, thus providing full exposure to the prevailing gold spot price;
- Securing AngloGold Ashanti’s international investment grade credit ratings;
- Introduction of long-term tenor to the statement of financial position with the issue of two rated bonds maturing in 10 and 30 years and mandatory convertible bonds due in 2013; and
- A full year dividend of 145 South African cents per share (approximately 20 US cents per share), 12% higher than the previous year of 130 South African cents (17 US cents per share).
Cash flow from operating activities*
Group overview 2010 – key data
|Average gold spot price||($/oz)||1,227||974||26|
|Average received gold price||($/oz)||561||751||(25)|
|Average received gold price excluding hedge buy-back costs (1)||($/oz)||1,159||925||25|
|Total cash costs||($/oz)||638||514||24|
|Total production costs||($/oz)||816||646||26|
|Ore Reserve (2)||(Moz)||71||71||1|
|Adjusted headline loss (3)||($m)||(1,758)||(50)||3,416|
|Adjusted headline earnings excluding hedge buy-back costs (4)||($m)||787||708||11|
|Adjusted headline earnings excluding hedge buy-back costs||(US cents/share)||212||196||8|
|Dividends per ordinary share||(SA cents/share)||145||130||12|
|Average exchange rate||(R/$)||7.30||8.39||(13)|
|Exchange rate at year-end||(R/$)||6.57||7.44||(12)|
|Share price at year-end:|
|Market capitalisation at year-end||($m)||18,767||14,555||29|
- (1) Average received gold price during 2010 excluding the effects of hedge buy-back costs at $1,159/oz is 25% higher than 2009, 5.5% discount to the spot gold price and better than the guidance of 8% to 10%.
- (2) After adjusting for the Tau Lekoa sale, Ore Reserve increased by 1% from 70.6Moz to 71.2Moz.
- (3) Headline loss adjusted for unrealised non-hedge derivatives, fair value adjustments on the option component of the convertible and mandatory convertible bonds, adjustments to other commodity contracts and deferred tax thereon. Refer to Non-GAAP disclosure note 1.
- (4) Refer to Non-GAAP disclosure note 1.
All injury frequency rate
(per million worked)