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ANGLOGOLDASHANTI AngloGold Ashanti Limited ( Incorporated in the Republic of South Africa ) Reg . No. 1944/017354/06 ISIN : ZAE000043485 - JSE share code : ANG CUSIP : 035128206 - NYSE share code : AU ( " AngloGold Ashanti " or " AGA " or the " Company " ) Report for the six months and year ended 31 December 2020 Johannesburg , 22 February 2021 - AngloGold Ashanti is pleased to provide its financial and operational update for the six months and year ended 31 December 2020 . Added Ore Reserve of 6.1 Moz on a gross basis , 2.6Moz on a net basis , for a net increase of 10 % year - on - year - reserve life ^ increased to about 11 years Free cash flow increased 485 % year - on - year to $ 743m in 2020 - excluding asset sale proceeds from $ 127m in 2019 Free cash flow before growth capital up 124 % year - on - year to $ 1,003m in 2020 , from $ 448m in 2019 Net cash inflow from operating activities increased 58 % to $ 1,654m in 2020 , from $ 1,047m in 2019 Achieved 2020 full year guidance : Production of 3.047Moz in 2020 , which includes COVID - 19 impacts estimated at 140,000oz All - in sustaining costs ( AISC ) margin from continuing operations rose to 40 % in 2020 , from 28 % in 2019 Profit from continuing operations increased 160 % year - on - year to $ 946m in 2020 , from $ 364m in 2019 Adjusted EBITDA up 50 % year - on - year to $ 2,593m in 2020 , from $ 1,723m in 2019 ; highest since 2012 Dividend increased more than fivefold to 48 US cents per share in 2020 , from 9 US cents per share in 2019 Adjusted net debt from continuing operations down by 62 % year - on - year to $ 597m in 2020 , from $ 1,581m in 2019 ; lowest in the last ten years Regrettably one fatality during H2 2020 ; 6 fatalities in total for 2020 ; All - injury frequency rate ( AIFR ) improved by 28 % to 2.39 injuries / million hours worked Operating review Gold Produced - Continuing and discontinued operations Sold - Continuing and discontinued operations Financial review Continuing and discontinued operations Price received Total cash costs per ounce All - in sustaining costs per ounce All - in costs per ounce Gold income Cost of sales Total cash costs Gross profit Adjusted EBITDA Capital expenditure Net cash inflow from operating activities Free cash flow * Headline earnings Continuing operations Profit ( loss ) attributable to equity shareholders Adjusted EBITDA * Total borrowings Adjusted net debt * Capital expenditure - oz ( 000 ) - oz ( 000 ) - $ / oz - $ / oz - $ / oz - $ / oz - $ m - $ m - $ m - $ m - $ m - $ m - $ m - $ m - $ m - US cents / share - $ m - US cents / share - $ m - $ m - $ m - $ m Six months ended Dec 2020 1,578 1,567 1,889 828 1,086 1,220 2,579 1,522 1,238 1,115 1,498 427 1,049 566 596 142 564 135 1,434 2,084 597 411 Ore Reserve / Annual Production from continuing operations . * Refer to " Non - GAAP disclosure " and the Glossary in the Annual financial statements for the year ended 31 December 2019 for definitions . $ represents US Dollar , unless otherwise stated . Six months ended Dec 2019 US Dollar / Imperial 1,727 1,691 1,469 762 993 1,203 2,204 1,610 1,247 646 1,033 496 704 159 259 62 234 56 935 2,204 1,581 466 Year ended Dec 2020 Preliminary Condensed Financial Information for the year ended 31 December 2020 - www.AngloGoldAshanti.com 3,047 3,082 1,768 819 1,059 1,200 4,730 2,986 2,352 1,792 2,593 792 1,654 743 1,000 238 946 225 2,470 2,084 597 757 Year ended Dec 2019 3,281 3,268 1,387 776 998 1,162 3,993 3,105 2,393 983 1,723 814 1,047 127 379 91 364 87 1,580 2,204 1,581 754 Rounding of figures may result in computational discrepancies . The information on this page and in the Financial and Operating Report is provided for the AngloGold Ashanti group as a whole , unless otherwise indicated . Following the announcement of the South Africa assets sale , the South African operations are recorded as discontinued operations in the Preliminary Condensed Consolidated Financial Statements for the year ended 31 December 2020. Refer to " Preliminary Condensed Consolidated Financial Statements for the year ended 31 December 2020 - Note 8 Discontinued operations and assets and liabilities held for sale " for further details . The Non - GAAP disclosures on pages 53-57 following the Preliminary Condensed Consolidated Financial Statements for the year ended 31 December 2020 are based on the continuing operations of the group , where indicated . For a breakdown of results between continuing and discontinued operations , refer to the comprehensive table on page 3 . Published : 22 February 2021 December 2020