Reporte colombia 2008

Colombia report 08 ES 6 Aug 09 9/4/09 2:25 PM Page 1

Colombia
Country Report 2008


Colombia
Country Report 2008

CONTENTS

3. Message from the country manager 13. Safety and health
4. Corporate profile 15. Employment
6. Review of operations 17. Human rights
7. Mineral Resources and 19. Community
Ore Reserves 21. Environment
8. Sustainability footprint 23. GRI scorecard
10. Economic performance 24. Glossary of terms and acronyms
11. Ethics and governance BC. Contact details

SCOPE OF REPORT

The Country and Operational Reports, of which this is one, are produced annually as a component of AngloGold
Ashanti’s Report to Society which, in turn, forms part of a suite of annual reports through which the company
communicates with a wide range of stakeholders and business partners. These stakeholders and business partners
include shareholders, employees, community members and many other interested parties in all the countries and
regions in which the group operates, as well as regional and national governments.

The main purpose of the Country and Operational Reports, which are primarily web-based documents available in pdf
format, is to provide a greater level of detail on the issues and challenges of sustainable development within each area
of operation. However, they also draw on information from the company’s Annual Financial Statements and Mineral
Resource and Ore Reserve Report so that the reader forms a complete picture of the operation/s in the country
in question.

This report has been produced in accordance with the G3 guidelines of the Global Reporting Initiative (GRI) and in
alignment with the principles of the International Council on Mining and Metals (ICMM). AngloGold Ashanti is an
organisational stakeholder of the former and a member of the latter. This report also conforms to the reporting
requirements of the UN Global Compact and the Extractive Industries Transparency Initiative (EITI) both of which are
supported by AngloGold Ashanti.

The full set of AngloGold Ashanti annual reports is available at www.aga-reports.com or, on request, in hard copy from
the contacts detailed at the end of this report.

Colombia Country Report 2008 – 2 –


Message
from the Country Manager
Since the establishment of a presence in Colombia in 2003, the group’s
greenfields exploration programme in this country has matured significantly.
In the past few years the emphasis has also shifted from a broad-based
approach to one of focus on a few areas, returning mineral right applications
in certain areas, and reducing tenement areas. This is a process which we will
pursue in 2009, and it is anticipated that the total exploration area held by
AngloGold Ashanti and its partners should reduce from 2 million hectares to less
than 1.5 million hectares.

From 2004 to the end of December 2008 AngloGold Ashanti and its partners had invested roughly
$140 million in greenfields exploration in Colombia. At La Colosa we have had success in defining a gold porphyry
system, the first significant discovery in the Colombian Andes, where AngloGold Ashanti has first mover status.
The Colombian government’s approval of a temporary permit to carry out limited work in anticipation of a feasibility
study at La Colosa, is a very encouraging development. Once this is legally binding we will be in a position to resume
exploration activities. We remain committed to complying fully with international and national requirements with regard
to environmental aspects associated with this work. Moreover, the company has made clear that it will welcome third-
party involvement in the process, will share study results and will look for intervention and supervision by the community,
the authorities, and NGOs.

As a globally reputable mining and exploration company AngloGold Ashanti’s approach to mineral exploration
is both modern and responsible. Our principal objective is to discover and bring to account economically viable
orebodies in a manner which is socially and environmentally responsible and compatible with the highest international
standards. We are committed to develop mines which will contribute to an economic hub in the areas where they
are situated, complementing and not displacing existing economic activities, adding to socio-economic stability in the
region and improving communities’ standard of living.

In line with corporate developments and the group’s commitments to various international protocols with regard
to transparency in its dealings with indigenous communities, the Colombian operations’ security arrangements are
guided by the Voluntary Principles on Security and Human Rights.

As we advance our activities in Colombia, with our joint venture partners and in some cases on our own, we look
forward to engaging with legitimate activists and groups to visit our sites to form their opinions about what we are
doing well and where we can do better. It is through such interventions that we can improve our interactions
with the communities in which we work.

Rafael Herz
President – AngloGold Ashanti Colombia S.A.
Date: 6 March 2009



Corporate profile
– Group
AngloGold Ashanti global operations and exploration: 2008
Sovromennie N
Veduga Anenskoye

Russia
Aprelkovskoye

Yili Yunlong
USA
Jinchanggou
Cripple China
Creek
& Victor Sadiola and Yatela
(CC&V)
Mali
Philippines
Colombia
Guinea Mapawa Area
Quebradona Siguiri Ghana
Morila Mongbwalu
Obuasi DRC Tanzania
Gramalote Iduapriem Geita
Brazil
La Colosa
Serra
Grande Navachab
Namibia Australia
Brasil Tropicana
SA operations
Argentina
Mineração Republic of Great Noligwa
South Africa Boddington*
Mponeng
TauTona Sunrise Dam
Savuka
Cerro Vanguardia Kopanang
Tau Lekoa**
Moab Khotsong

Operations * sold early 2009
** sale transaction
Greenfields exploration announced
and alliance areas

AngloGold Ashanti Limited, a leading global gold mining company, has a varied portfolio of assets which includes
surface, open-pit and underground operations in key gold-producing regions around the world. At the end of 2008, the
company had 21 operations located in 10 countries (South Africa, Argentina, Australia, Brazil, Ghana, the Republic of
Guinea, Mali, Namibia, Tanzania and the United States) on four continents, together with a substantial project pipeline
and a focused, global exploration programme. Greenfields exploration is currently being conducted in Western Australia,
Colombia and the Democratic Republic of Congo (DRC), and the group is involved in exploration partnerships and joint
ventures in Russia, China and the Philippines. AngloGold Ashanti’s corporate office is in Johannesburg, South Africa.

AngloGold Ashanti produced 4.98 million ounces of gold in 2008, of which 2.73 million ounces (55%) came from
deeplevel operations and the balance of 2.25 million ounces (45%) from shallower and surface operations around the
world. As at 31 December, the group employed 62,895 people, comprising 50,206 employees and 12,689 contractors
and had proved and probable ore reserves of 74.9 million ounces of gold. Capital expenditure for the year amounted to
some $1.2 billion.

Guided by values
AngloGold Ashanti remains a values-driven company. Its values, the foremost of which is safety, together with the group’s
business principles, continue to guide the actions of the company, its managers and employees, particularly in respect of
sustainable development. These values and principles underpin all that the group does and form the basis of its relationships
with others – shareholders, employees, communities, business partners, governments and civil society organisations. In this
report, performance is measured against these values and principles, and progress recorded.

1.4%
3.1% 3%
5.2% 3%
5.3% 5%
10%
6.7%
8.2%
8.2%
8.7% 30%
11.2%
42% 49%

Attributable gold production Shareholders as at March 2009
by country (%)
South Africa Tanzania United States 49%
Ghana United South Africa 30%
Australia States United Kingdom 10%
Brazil Argentina Europe 5%
Mali Namibia Asia Pacific/Middle East 3%
Guinea Ghana 3%



Corporate profile
– AngloGold Ashanti in Colombia

AngloGold Ashanti’s presence in Colombia dates back to 2003, when it was the first company to establish
a systematic grassroots exploration program in Colombia. Since these early days the company has staked a
total of 13.1 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 hectares are active. Follow-up work ranges from drill target
definition through pre-feasibility studies.

These prospects are operated either 100% by AngloGold Ashanti or in joint ventures with partners, 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 in 2009. To date the programme
has generated 42 drill targets of which 24 have been drilled with two resulting in significant discoveries, Gramalote
(a JV with Vancouver-based B2B Gold Corp) and La Colosa, with estimated reserves of more than 12 million ounces.



Review of
operations

Cartagena SOUTH
AMERICA

Segovia

Gramalote
Quebradona Antioquia LEGEND
La Colosa Bogotá - Town
Bogotá
La Colosa - Prospect

JV Areas
B2Gold
COLOMBIA
Glencore
Mineros SA - AGA

Tenure
Applications
0 250 500 Free Area
Granted
kilometers

Systematic exploration activities in Colombia have generated 294 targets covering 4.2 million hectares, on
408 mineral tenement contracts. Joint venture partner B2Gold Corp. continued resource delineation drilling
at Gramalote, first phase drilling at Quebradona and reconnaissance and drill target definition work in three
departments in Colombia. Mineros S.A. drilled one target in Antioquia and conducted reconnaissance and drill target
definition work at two other targets within the Segovia joint venture in the Antioquia department. Significant results
were released from the Quebradona gold-copper porphyry project that are likely to increase the mineral resource at
this project.

On receipt of all assay and geological data for the AngloGold Ashanti/B2Gold JV Quebradona drilling programme,
AngloGold Ashanti may decide on its level of future participation in the project (49%, 51% or 65% interest).

LA COLOSA
La Colosa is a significant ‘in-house’ greenfields project discovered by AngloGold Ashanti in 2006. The project
is 100% owned by AngloGold Ashanti Limited and located 150km west of Colombia’s capital city, Bogota and 30km
west of the major town, Ibague, in the department of Tolima.

Drilling and resource modelling at La Colosa has rapidly led to the definition of a gold porphyry system with a grade
of more than 0.3 g/t Au extending over a strike length in excess of 1,500 metres. AngloGold Ashanti is in possession
of a temporary permit for limited exploration work on the La Colosa site, where an inferred resource of 12.3 million
ounces has been estimated. This is the first significant gold porphyry discovery in the Colombian Andes, where
AngloGold Ashanti has first mover advantage.

La Colosa - 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.
Late stage alteration causing removal of gold is virtually absent. The early porphyry stage is divided into three phases.
The earliest is crowded diorite porphyry (E1) and is volumetrically minor. The two principal early diorite porphyries,
both later than the crowded phase, comprise coarse grained (E2) and fine-grained (E3) varieties. The coarse-grained
phase is characterised by prominent plagioclase phenocrysts about 0.5cm across, whereas the fine-grained phase
contains homogeneously distributed, millimetre-sized plagioclases.



The inter-mineral-stage diorite porphyry intrusions are divided into two phases: coarse-grained (I1) and fine-grained
(I2), both of which are texturally similar to the two main early-stage phases. 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, i.e. a concentration of xenoliths of earlier porphyry in a later one.
The texture of the breccias is commonly diffuse implying varied degrees of assimilations of the earlier by later phases.

GRAMALOTE
The Gramalote project (a JV with B2Gold Corp) is located about 120 km north east of Medellin, the capital of the
Antioquia department. During 2008, B2Gold drilled 30,131m on the global Gramalote from project, including drill
investigations at Gramalote Ridge (mostly Mineral Resource infill work), La Trinidad (7,019m in 20 holes), El Balzal, La
Reina, El Topazio and La Malasia.

Gramalote - geology

The Gramalote area is underlain by medium to coarse-grained biotite +- hornblende tonalite and granodiorite of the
Paleocene to Cretaceous Antioquian batholith. Tonalite from the Gramalote exploration adit gave zircon ages of
59+1.2ma. Magmatism, structural events and mineralisation are intimately related. The location of drill targets is
controlled by N70-75E striking steeply south-east dipping transfer zones developed between two sub-regional faults
(Rio Nus, Quebrada Socorro).

On the local prospect scale, extensional domains with quartz veinlets and compressional domains with shear zones
have formed.

RESERVES AND RESOURCES IN COLOMBIA

Mineral Resources (attributable) inclusive of Ore Reserves

Contained Contained
as at 31 December 2008 Resource Tonnes Grade gold gold
category million (g/t) tonnes million oz
Colombia Measured – – – –
Indicated – – – –
Inferred 409.77 1.01 415.45 13.36
Total 409.77 1.01 415.45 13.36



Sustainability
footprint
This section illustrates the group’s key sustainability issues during the
cycle of mining and processing gold.

Impact on restricted areas – biodiversity
Human rights issues
Consultation with communities, including interaction
with artisanal and small-scale miners (ASM) Dealing with regional health threats
Fair employment practices and skills development
Human rights and security
Safety and health
Efficient use of resources – water, energy and other natural
resources
Reducing carbon footprint, preventing pollution
Human rights and security

2. MINING: ACCESSING THE OREBODY
There are two types of mining which take place to access the orebody:
• Underground mining: a vertical or decline shaft is sunk deep into the
ground to transport people and mining materials to underground levels from
which the orebody is accessed through horizontal tunnels known as
haulages and cross-cuts. Further on-reef development is then undertaken to
open up the orebody so that mining can take place.
• Open-pit mining: in this situation the ore lies close to surface and can be
exposed for mining by “stripping” the overlying barren material.

1. FINDING THE OREBODY 3. MINING: REMOVING THE ORE
AngloGold Ashanti’s greenfields • In underground mining, ore is drilled and blasted,
exploration group identifies prospective and brought to the surface.
gold deposit targets and undertakes • In open-pit mining, drilling and blasting may also
exploration on its own or in conjunction be necessary to break the ore; excavators then
with joint venture partners. Worthwhile load the material onto the ore transport system
discoveries undergo a well structured which is predominantly haul trucks.
and intensive evaluation process before
a decision is made to proceed with
developing the mine.

Interaction with artisanal
and small-scale miners

Environmental footprint Minimising emissions to air
(land use/biodiversity) Land disturbance



The process of producing gold can be divided into the following main activities:
• Finding the orebody • Processing
• Mining – Creating access to the orebody • Refining
• Mining – Removing the ore • Mine site rehabilitation
• Mining – Transporting the broken material to plants
for treatment

Rehabilitation and achieving closure

Minimising emissions and Post-closure monitoring
preventing pollution
Engaging with communities
Efficient use of resources

Management of cyanide

4. MINING: TRANSPORTING Reducing carbon footprint 6. REFINING
BROKEN MATERIAL TO The doré bars are transported to
PLANTS FOR TREATMENT a precious metal refinery for further
processing. In this process gold is
• Underground ore is brought to the upgraded to a purity of 99.5% or
surface by a combination of horizontal greater for sale to a range of final
and vertical transport systems. Once on users. High purity gold is referred to as
surface the ore is usually transported to “good delivery” which means that it
the processing facilities by surface rail meets the quality standards set by the
or overland conveyors. London Bullion Markets Association
• In open pit operations the haul trucks and gives the final buyer assurance
deliver the ore directly to the processing that the bar contains the quantity and
facilities. purity of gold as stamped on the bar.

5. PROCESSING 7. MINE-SITE
Comminution involves the breaking up of ore into small REHABILITATION
particles so that the contained gold minerals are Once mining has been completed,
exposed. This is undertaken by a combination of multi- operations are ‘closed’ and rehabilitation
stage crushing and milling circuits. Recovery of gold can activities begin to return the land to a
then commence, depending on the nature of the gold productive state. (Rehabilitation is the
contained in the ore. process of reclaiming mined land to the
Free milling and oxidised refractory ores are processed condition that existed prior to mining or
for gold recovery by leaching the ore in agitated (stirred) to a pre-determined post-mining use.)
tanks in an alkaline cyanide leach solution. In this Planning for this process is undertaken
process, ore is crushed and heaped on an impervious or during the life of mine.
lined leach pad. Low strength alkaline cyanide solution
is irrigated over the heaped pad for periods of up to
three months. The dissolved gold-bearing solution is
collected from the base of the heap and transferred to
carbon-in-solution (CIS) columns where the gold
cyanide complex is adsorbed onto activated carbon.
Gold which has loaded (adsorbed) onto activated Minimising emissions (air quality)
carbon is recovered by a process of re-dissolving the
gold from the activated carbon (elution), followed by
precipitation in electro-winning cells and subsequent
smelting of the precipitate into doré bars.
At some operations, by-products are generated, such
as silver, sulphuric acid and uranium.

Local economic
development and
sustainable social
investment



Economic
performance

KEY DEVELOPMENTS

• Continued restructuring to focus on new company strategy.
• New company vision, mission and values developed.
• Rising input costs have significant effect on total cash costs across the industry.
• Significant payments to government, reported in line with the guidelines of the Extractive Industries
Transparency Initiative (EITI), a coalition of governments, companies and civil society.

KEY ECONOMIC IMPACTS
Key economic impacts $000
Amounts paid to employees for salaries, wages and other benefits –
Taxation
Taxation paid in 2008* 277
Provision for taxation* 58
Withholding tax (STFC, royalties, etc)** 1,171
Other indirect taxes and duties 239
VAT paid 327
VAT refunded –
Employee taxes and other contributions** 708
Property tax 332
Other (tenement fees) 2,934
Exploration expenditure 27,800
Corporate social investment expenditure –
* Includes capital gains tax
** Includes remittance made by government but borne by employees as individual taxation, eg PAYE, UIF.

As a member of the EITI, AngloGold Ashanti is committed to transparency in the disclosure of payments to and receipts
from governments.

Investing in the future

In 2008, AngloGold Ashanti invested $27.8 million in greenfields exploration activities in Colombia. $56 million
has been allocated to a pre-feasibility study at La Colosa in 2009. Over the next three to four years an investment
of about $200 million is needed to increase knowledge of this significant gold discovery. Such an investment
should create roughly 700 direct jobs and about three times that number in indirect employment opportunities.



Ethics
and governance

KEY DEVELOPMENTS
• Amendments made to Conflict of Interest and Gifts, Hospitality and Sponsorship policies during the year.
• Voluntary compliance with a number of organisations.

ANGLOGOLD ASHANTI VALUES
In respect of ethics and governance, the AngloGold Ashanti values state that:

We are accountable for our actions and undertake to deliver on our commitments. We are focused on delivering
results and we do what we say we will do. We accept responsibility and hold ourselves accountable for our work, our
behaviour, our ethics and our actions. We aim to deliver high performance outcomes and undertake to deliver on our
commitments to our colleagues, business and social partners, and our investors.

GOVERNANCE
AngloGold Ashanti remains committed to the highest standards of corporate governance. Corporate governance is
the responsibility of the Board of Directors as a whole, with some authority delegated to the Audit and Corporate
Governance Committee of the board and the management Disclosure Committee. Further details on corporate
governance may be found in the Annual Report at www.aga-reports.com.

Legal issues
The drill programme at La Colosa was suspended in February 2008 owing to unexpected and additional
environmental requirements relating to the status of the forest reserve status of the area. This was followed in
2009 by the Colombian government’s decision to award exploration permits covering a portion of the company’s
La Colosa concession which will allow the resumption of exploration and further work on the pre-feasibility study.
The company will co-operate closely with local communities and NGOs in developing a sustainable development plan
to benefit all stakeholders.

Voluntary compliance
In addition to its regulatory obligations, AngloGold Ashanti firmly believes in self-regulation and holds the view that
local and international industry leaders should establish robust standards against which companies should perform
and be measured. The group is actively involved in a wide range of organisations and initiatives, and is either a
member of or signatory to the organisations listed below. It actively supports their aims and objectives, and
participates in their development and functioning.
• United Nations Global Compact (UNGC)
• International Council on Mining and Metals (ICMM)
• Responsible Jewellery Council (RJC)
• Global Reporting Initiative (GRI)
• Extractive Industries Transparency Initiative (EITI)
• International Cyanide Management Code for the Manufacture, Transport and Use of Cyanide in the Production of
Gold (Cyanide Code)
• Voluntary Principles on Human Rights

Political donations
Political donations are subject to full disclosure. A subcommittee comprising independent non-executive members of
the board has been set up specifically to deliberate on any political donations. Political donations were made by
operations in Brazil and the United States. The Brazilian operations contributed $476,415 (BRL805,000) towards
political parties in the municipalities in which its operations are located. In the United States both the Democratic
($15,150) and Republican ($11,1150) parties received donations in accordance with the Colorado campaign
finance laws.



Ethics
and governance

Policies and procedures

AngloGold Ashanti has a number of policies and procedures in place to ensure that employees are aware of what is
expected of them and conform as appropriate. Employee induction in respect of these policies and procedures is
mandatory. Some of the policies in place are discussed below:
• The Market Abuse (Insider Trading) Policy applies to employees and directors and effectively prohibits them
from trading shares when they have access to unpublished, material information concerning the company or
its operations.
• The Gifts, Hospitality and Sponsorship Policy aims to ensure that no supplier receives undue favour and that
employees do not compromise their integrity and impartiality by the receipt or giving of gifts. The policy was
amended during the year to include sponsorships.
• The Conflict of Interest Policy aims to ensure that the company’s commercial transactions take place in a manner
that ensures the integrity and fairness of the company’s contract and tender processes. The policy applies to all
employees and was amended during the year to include the coherent and comprehensive response that must be
made once a conflict has been declared.

Code of Ethics and confidential reporting (whistle-blowing)

To comply with the obligations of the Sarbanes-Oxley Act and the King Report on Corporate Governance, 2002, and
in the interests of good governance, the company has systems and procedures to introduce, monitor and enforce its
ethical codes (including risk related to corruption at all operations). The whistle-blowing policy and process
encourages employees and other stakeholders confidentially and anonymously to report acts of an unethical or illegal
nature that are prejudicial to the company’s interests and compromise its values.

The codes and the whistle-blowing policy are available on the company’s website at www.aga-reports.com/
08/governance.policies.htm. Reports may be submitted via the intranet, internet, telephone, fax and post, and an
initiative is under way to implement text messaging as a further medium for reporting.

All reports made in terms of the whistle-blowing policy are administered by a third party, Tip-Offs Anonymous, to
ensure confidentiality and anonymity. The information is relayed through a reporting structure to an independent official
and internal audit for investigation. Feedback on reports is given when requested. A report is provided to the Audit
and Corporate Governance Committee on a quarterly basis.



Safety
and health

KEY DEVELOPMENTS
• Re-evaluation of the group’s mission, vision and values, and affirmation of safety and health as the group’s first value.
• Start of a safety and health transformation project to develop a strategic ‘blueprint’.
• Significant improvement in safety performance. FIFR at a record low level but, regrettably, 14 people died in
accidents at the group’s operations. An 11% reduction in LTIFR for the group.
• Excellent progress with OHSAS 18001 implementation, after launch in May 2008.
• Occupational health and safety system and practices protocol developed

A key part of the company’s safety initiative in 2008 was the assertion that safety is the group’s first value. This was
the focus of the extensive safety initiative conducted during the year to ensure that this value is both understood by
all and put into practice at all levels within the group. The following is an extract from AngloGold Ashanti’s statement
of values:

Safety is our first value
We place people first and correspondingly put the highest priority on safe and healthy practices and systems of work.
We are responsible for seeking out new and innovative ways to ensure that our workplaces are free of occupational
injury and illness. We live each day for each other and use our collective commitment, talents, resources and systems
to deliver on our most important commitment….to care.

Management and accountability

Every AngloGold Ashanti manager and employee takes responsibility for health and safety; and all strive to create
workplaces that are free from occupational injury and illness. The group is committed to complying with all relevant
occupational health and safety laws and, in the absence of such standards, to adopting leading practice. Although
health and safety is regarded as a prime responsibility of management (from executives down to supervisors),
AngloGold Ashanti strives for employee involvement and consults with employees to gain their commitment.

All the necessary resources – a system of medical surveillance and the provision of protective equipment, for example
– are made available to enable compliance with the group’s safety and health principles. Deliberate breaches in
standards and procedures are not tolerated and risk assessments are conducted to anticipate, minimise and control
occupational hazards. AngloGold Ashanti implements safety and health management systems based on
internationally recognised standards and assesses their effectiveness through periodic audits.

Performance in terms of safety and health objectives is measured and monitored on a regular basis. AngloGold
Ashanti communicates openly on safety and health issues with employees and other stakeholders.

Safety overview
A well-developed safety and health communications programme is in place in Colombia, using media such as
briefings, electronic communications and bulletins. Further improvements are planned for 2009 in raising employee
participation in the occupational health and safety committee, and also raising awareness of safety issues among
employees.

Emergency response procedures during the year focused on identification of risks, a vulnerability assessment and the
election of an emergency brigade who receive training in these procedures.

Review

The OHSAS 18001 safety and health management standard is in place at the Colombian exploration sites after its
launch in May 2008. A compliance and performance review for system certification is planned for 2009 with the System
Management Review in December 2009.



Safety
and health
At La Colosa project local staff are responsible for implementing the OHSAS model. At the remaining greenfields
projects a member of the occupational health and safety management team guides the identification of potential health
and safety risks and management thereof.

No fatal injuries were reported during 2008. The LTIFR was reduced from 36.27 in the previous year to 12.40. Although
this number remains high, the reduction does reflect the benefits of intensive safety campaigns, which will be continued
in the year ahead. The main causes of lost time injuries in the year were unsafe environmental conditions.

Staff in Colombia receive on average 2.36 hours training in safety and health management per year.

HEALTH

A formal medical surveillance programme is in place at the Colombian projects. A basic health facility with an auxiliary
nurse provides first aid care in emergencies and also sees to implementing preventative actions. Improvements are
planned to the La Colosa medical facility in 2009. This will include aligning the emergency management plans with
the corporate and local municipal guidelines. The 2009 year will also see the implementation of an epidemiological
surveillance programme for muscle-skeletal cumulative trauma.



Employment
KEY DEVELOPMENTS
• Revision of the company’s vision and values, and their communication to employees.
• Development of the System for the Management of People, based on the Requisite Organisation model.
• Restructuring of responsibilities and hierarchy in line with corporate strategy.
• Implementing a company-wide approach to collective bargaining.

ANGLOGOLD’S VALUES
AngloGold Ashanti’s values, as reviewed and redefined in 2008, are underpinned by the philosophy that ‘People are
our business... our business is people’. The group’s values specifically state:

We treat each other with dignity and respect. We believe that individuals who are treated with respect and who
are entrusted to take responsibility respond by giving their best. We seek to preserve people's dignity, their sense of
self-worth in all our interactions, respecting them for who they are and valuing the unique contribution that they can
make to our business success. We are honest with ourselves and others, and we deal ethically with all of our business
and social partners.

We value diversity. We aim to be a global leader with the right people for the right jobs. We promote inclusion and
teamwork, deriving benefit from the rich diversity of the cultures, ideas, experiences and skills that each employee
brings to the business.

Giving life to this are the group’s undertakings or business principles related to the group’s labour practices.

Management systems and accountability

Operational restructuring has been undertaken across AngloGold Ashanti over the past year to align the company’s
structure with the revised corporate strategy and the new executive team, and to bring the leadership of the
operations closer to the company. Key developments here include the appointment in late 2007 of three operational
heads (one in Africa, one in Australia and one in the Americas) and the separation of divisional responsibility in Africa.

Given AngloGold Ashanti’s renewed vision and values and revised company strategy, a complete review of the group’s
human resources management systems and structure, called the System for the Management of People (SMP) is
being undertaken. This is considered a strategic imperative within the context of a changing world of work and the
current socio-economic climate.

Employment practices
AngloGold Ashanti is committed to upholding the Fundamental Rights Conventions of the International Labour
Organisation (ILO), ensuring the implementation of fair employment practices by prohibiting forced, compulsory or
child labour. It is also committed to creating workplaces that are free of harassment and unfair discrimination.

AngloGold Ashanti’s employment policy:
• recognises and promotes diversity within the company;
• acknowledges that women have an equal right to participate in mining as a career; and
• regards the employment of locals and the replacement of expatriate employees as a priority.

The group’s policy encourages the employment of locals and replacement of expatriate employees over time through
skills transfer programmes and the career development of citizens of the country.

Legislation in Colombia requires that 90% of all employees and 80% of qualified professional employees be Colombian nationals.



Employment
Employment review

A total of 476 people were employed in Colombia in 2008 (161 permanent employees and 315 contractors). A total
of 64 women are employed in Colombia, representing 27% of senior and middle management and 35% of the total
complement. Labour turnover at just over 1% was low in Colombia, compared to 8% for the group as a whole.
Expatriates account for 4.3% of permanent employees and 1.8% of senior appointments.

Freedom of association and collective bargaining

AngloGold Ashanti recognises that freedom of association is a fundamental right of all employees and contractors,
and adheres to collective bargaining agreements with due regard to the relevant legislation of a particular country.
In Colombia labour legislation makes provision for the rights of freedom of association, and protection of equal rights.
However, the exploration staff in Colombia are not unionised.

Training and development

In line with group emphasis on training and development of people, the Colombian operations are currently developing
a training system. In 2008 a total of $145,790 was spent on training. A formal policy on scholarships and bursaries
is in place in support of developing a mining/exploration culture in the country. A total of 12 people received study
support during the year in areas such as social development, negotiation skills and in geology.

Benefits and conditions of service
AngloGold Ashanti aspires to be the employer of choice in the regions and countries in which it operates, offering
attractive and fair remuneration practices and conditions of service. The company’s employee remuneration exceeds
the legislated minimum wage requirements in the various states where it operates. Management in Colombia is
currently devising appropriate remuneration policies and procedures.

The company provides health care to employees and their dependants. Employees are entitled to maternity and
paternity leave and receive life insurance and disability cover.



Human
rights

KEY DEVELOPMENTS
• A vice president for global security appointed.
• Global security review undertaken to develop a framework for the management of security issues in line
with Voluntary Principles on Security and Human Rights.
• Escalating tension between the company and artisanal and small-scale miners, and illegal miners.
A number of incidents reported during the year, three involving shootings.

Respect for human rights is a key principle in many of the policies and practices that are integral to the group’s
sustainability efforts, and are entrenched in the constitutions and legislation of many of the countries in which the
group operates. Oversight and implementation of various practices in this area are largely the function of line
managers as they are the direct interface between the company and employees and the company and communities.

Human rights cut across a range of disciplines, from safety and health, community and environment, to human
resources, ethics and governance. The group continues to support both the UN Global Compact and the Voluntary
Principles on Security and Human Rights. A major development during the year was the appointment of a vice
president for global security, with a specific remit to ensure that all security operations and practices take due
cognisance of human rights.

Fundamental human rights conventions

AngloGold Ashanti is committed to upholding the basic labour rights captured in the Fundamental Rights Conventions
of the International Labour Organisation (ILO). Specifically, it seeks to ensure the implementation of fair employment
practices by prohibiting forced, compulsory or child labour and implementing these practices through country,
operation and shaft level recognition and collective bargaining agreements, and through disciplinary, grievance and
non-discrimination agreements and codes. No breaches of fundamental rights were alleged, nor were any charges
brought against the company in connection with these during the year. No operations are deemed to be at specific risk
in this regard.

Policies are in place at all operations to protect employees from prejudice and, in some countries, to promote the
advancement of certain groups of employees. Discrimination, including racial and sexual harassment and discrimination
against the disabled, is prohibited in terms of the company’s business principles, as well as by legislation in most of the
countries where AngloGold Ashanti’s operations are situated. In many of the countries the rights and promotion of
indigenous peoples, of the historically disadvantaged, and of women, are provided for in legislation and adopted and
followed by the company.

In Colombia AngloGold Ashanti has signed agreements with the official security forces for protection in certain areas.
These agreements are inclusive of the principles enshrined in the Voluntary Principles on Security and Human Rights.

Human rights training

AngloGold Ashanti has initiated human rights training – for security personnel in particular – at all operations where
this is required.

Improving security practice in line with the Voluntary Principles on Security and Human Rights

Securing its assets and ensuring the safety of its employees is not only a right of the company, but a responsibility –
to employees, to their communities, to shareholders and to the countries that have entrusted the exploitation of their
natural wealth to AngloGold Ashanti.



In these countries AngloGold Ashanti has to work closely with the state to be able to exercise its legal title to its
operations, while at the same time being mindful of traditional values, norms, and access to land. Given the
increasingly complex situations relating to security on the one hand, and the need to ensure compliance with the UN
Global Compact and the Voluntary Principles, the company undertook a global security review between May and July
2008 to assess the existing security measures, needs and the way in which the various disciplines can work together.
The review was undertaken by Mike Faessler, formerly Director of AngloGold Ashanti’s security operations in
Colombia, and now Vice President of Global Security.



Community
KEY DEVELOPMENTS
• Integration of community and environmental disciplines at a corporate level.
• Management standards on social investment, cultural heritage and sacred sites, stakeholder engagement,
indigenous peoples, artisanal and small-scale mining (ASM), land use management, grievances and complaints
and land acquisition being developed in support of the group’s Community Affairs Management Framework.
• Increased demand from local communities for the provision of basic services such as water, roads and electricity.

One of the group’s six core values is:

The communities and societies in which we operate will be better off for AngloGold Ashanti having been there.
We uphold and promote fundamental human rights where we do business. We contribute to building
productive, respectful and mutually beneficial partnerships in the communities in which we operate. We aim to
leave host communities with a sustainable future.

The group gives effect to its values through its business principles. These undertakings in respect of communities
serve also as the group’s policy, and guide regional and operational policies and practices. Community-related matters
are addressed at Board level by the Safety, Health and Sustainable Development Committee.

During 2008, the community affairs and environmental teams were integrated, reflecting the interdependence of these
issues from both a strategic and operational perspective. This team is responsible for developing company policy, and
providing guidance and processes to assist operations in acting in accordance with the group’s business principles.

A corporate level Community and Environment Vice President has been appointed to head up the discipline.
Further refinement of the Community Affairs Management Framework continued during the year. An additional module
on human rights and security is being refined, in support of the new security discipline and in compliance with the
Voluntary Principles on Security and Human Rights. In view of the integration of the community and environmental
aspects of the business from a management perspective, a decision was taken late in 2008 to include community
aspects into the existing ISO14001 management systems in place at all operations. It is envisaged that this process
will take two to three years.

AngloGold Ashanti is committed to engaging with NGOs, community-based organisations (CBOs) and other
stakeholders on issues of mutual concern. Underpinning its strategy is the group’s view that it is desirable that the
various parties engage directly based on mutual recognition of each other’s legitimate right to operate. Specific
structures are being put in place to deal with grievances and legacy issues.

The group has continued during the year with its strategy of building relationships with key stakeholders, monitoring
emerging trends, being proactive where possible and responsive where issues arise unexpectedly. Relative to prior
years, fewer NGO reports and campaigns on the company’s activities have been witnessed over the past year.

Managing community relations
Community relations in Colombia are handled by the Department of Social Development led by a social
development manager. Each of the projects have a national field co-ordinator and social supervisors.
The company encourages community members to raise any matters of concern with the appropriate bodies.

Activities are overseen by the Community Relations and Social Development Manager at the corporate office
in Johannesburg. The operation has developed policies for Public and Community Affairs and for Sustainable
Development Projects which were implemented in 2008.

Employees are encouraged to take up leadership positions within their communities. In some instances, the
mine has recruited community members to serve as facilitators in negotiations with communities.



Community
Regular contact is maintained with representatives of rural communities, landowners, local government,
regional government and local NGOs, mainly through the Committee of Social and Environmental
Responsibility, which has been established in each municipality where there is an exploration project under way.
Community groups and organisations are kept informed about progress, through workshops and meetings,
with respect to the progress of exploration projects. They are also involved in identifying social programmes to
be implemented.

As exploration projects get under way, AngloGold Ashanti carries out an economic study to determine the
potential impacts of mining, local development and work opportunities for local people.

Artisanal and small-scale mining
Although the presence of artisanal and small-scale mining (ASM) at AngloGold Ashanti’s exploration sites in
Colombia are considered as a potential challenge, AngloGold Ashanti’s activities in the country have never led
to displacement or relocation of Afro-Colombian minorities. AngloGold Ashanti has in fact assisted in legalising
small miners and mining co-operatives, and in two instances established joint ventures with two co-operatives,
Miraflores and San Martin de Loba. (See case study in the Report to Society 2006: AngloGold Ashanti’s
approach to artisanal and small-scale mining, at www.aga-reports.com)

In Colombia, a ‘Good Friends and Neighbours’ policy has been developed that provides for the establishment
of contracts and collaborative agreements, in the interests of promoting legal and commercial mining activity.
At the heart of the programme is the allocation of ground to ASM miners, giving them legal mining title over the
property. In return for this, the miners have to register in terms of the local mining regulatory framework and
comply with some basic health and safety and environmental requirements.



Environment
KEY DEVELOPMENTS
• Further development of the group’s position on climate change, including the quantification of its carbon footprint
and the identification of potential Clean Development Mechanism (CDM) projects as part of the group’s business
case for greenhouse gas (GHG) emission reductions.
• Start of external review process of the group’s closure planning and liabilities.
• Good progress with the implementation of the International Cyanide Management Code.
• Improved environmental reporting contributed to more accurate incident tracking.
• AngloGold Ashanti ranked third in the Carbon Disclosure Project’s Carbon Intensive Sector Leadership Index of
the largest 100 companies listed on the JSE.

We respect the environment
We are committed to continually improving our processes in order to prevent pollution, minimise waste, increase our
carbon efficiency and make efficient use of natural resources. We will develop innovative solutions to mitigate
environmental and climate risks.

Management
Day-to-day responsibility for environmental issues lies with mine and project management; the group’s corporate
environment team provides strategic guidance and monitors performance. Site-based and regional environmental
specialists contribute to operational environmental functioning and combine to form the Environmental Steering
Committee at a group level.

In Colombia an environmental manager is charged with policy and programmes. Each drilling programme has an
environmental co-ordinator. The environmental manager reports to the HSE director, who reports directly to the
general manager. The environmental function is an essential line function at the exploration sites. Local Colombian
environmental policies are guided by corporate policy.

External awards
In 2008 AngloGold Ashanti was ranked third in the Carbon Disclosure Project’s Carbon Intensive Industries
Leadership Index of the largest 100 companies listed on the JSE Limited in South Africa.

Compliance
AngloGold Ashanti seeks to comply with environmental legislation in the regions where it has a presence. Mining
and exploration activities which may impact the environment are subject to the umbrella environmental law, the
99th law of 1993.

The drilling programme at La Colosa was suspended in February 2008 as the initiative to create special zones for forest
reserves gained momentum. This was followed in May 2009 by the authorities granting AngloGold Ashanti a temporary
permit to continue limited exploration work. Once this has translated into a formal permit award, the company will
resume exploration and further pre-feasibility work.

Environmental management system
All AngloGold Ashanti mining operations have Environmental Management Systems (EMS) certified to the
ISO14001 standard. The Colombian exploration programme is working towards implementation as part of a
regional management system.

Review
Risk management exercises were undertaken in September at La Colosa and in and November at Bogota. The major
risks identified relate to water and forest management and relationships with NGOs. Programmes are being developed
to improve access to water and water quality, while the company is investigating reforestation and compensation
measures. Research programmes are being developed with communities, tertiary educational institutions and NGOs.

Audits, in combination with joint venture partners were conducted to standardise processes and bring them into line
with AngloGold Ashanti’s policies.



Environment
Awareness, education and communication
The company’s initiatives to train contractors and community members in environmental awareness include the
development of a reforestation programme, waste management programmes to deal with both solids and liquids.

A formal stakeholder communication programme has been developed. Meetings are held monthly or more frequently,
with members of local and regional authorities and associations and NGOs. Subjects generally cover environmental
risks and the management thereof during the various stages of exploration and operation. During the year water quality
was an issue raised by communities.

Cyanide usage
In line with the global mining industry, AngloGold Ashanti has done much over the past 10 years to minimise
risk associated with the use of cyanide. AngloGold Ashanti managed sites are signatories to the International Cyanide
Management Code for the Manufacture, Transport and Use of Cyanide in the Production of Gold (the Cyanide Code),
to which the group was a founding signatory. This code is a voluntary industry initiative developed under the
auspices of the United Nations Environment Programme (UNEP) specifically to promote responsible management
of cyanide used in gold mining, to enhance the protection of human health, and reduce the potential for adverse
environmental impacts.

As an exploration area, Colombia is not as yet a signatory to the Cyanide Code.

Climate change
AngloGold Ashanti believes that climate change presents both physical and financial risks, as well as opportunities
for the company. A three-part study, begun in greater detail in September 2008, includes: assessing the
greenhouse gas emissions (GHG) footprint of all AngloGold Ashanti operations using 2007 as the benchmark year;
climate change related risk exposure: various risk categories (financial and investment, physical, and legal/regulatory)
are being considered; and the identification of opportunities to expand on energy savings and
efficiency projects and to reduce dependence on fossil fuels. This component will include opportunities to minimise the
group’s GHG footprint, and to realise carbon credits and trading to offset the costs of these opportunities and to
contribute to the company’s bottom line.

Given the group’s focus on delivering value, the approach taken was that the process should identify multiple and highly
probable Clean Development Mechanism (CDM) projects. For AngloGold Ashanti, carbon trading presents a particular
opportunity; around 84% of the company's gold production comes from developing countries, which are eligible for
CDM projects.

The Colombian operations are incorporating climate change criteria into their work plans for development and
exploration projects. The La Colosa pre-feasibility study in particular will review a number of options to reduce energy
consumption, use cleaner sources of electricity and reduce the greenhouse gas footprint of the project. In addition, a
number of options are under review to offset the potential impacts of the project in terms of biodiversity and climate
change.



GRI
scorecard

Content index

GRI Guidelines Location in Information available
Number Content this report elsewhere
contributed
Profile
1. Strategy and analysis Pages 3 and 8, 9 L G

2. Organisational profile Pages 4 and 5 L G

3. Report parameters
Report scope and boundary Page 2 G
GRI content index Page 23 G
Assurance G

4. Governance, commitments and engagement
Commitments to external initiatives Page 11 G K
Stakeholder engagement Pages 19 to 20 G K

5. Performance G
Economic performance indicators
Aspect: Economic performance Page 10 L G
Aspect: Market presence G
Aspect: Indirect economic impacts G

Environmental performance indicators
Aspect: Materials Page 22 G K
Aspect: Energy G K
Aspect: Water G K
Aspect: Biodiversity G K
Aspect: Emissions, effluents and waste Page 22 G K
Aspect: Products and services G K
Aspect: Compliance Page 21 G K
Aspect: Overall G

Social performance indicators G
Labour practices and decent work G
Aspect: Employment Pages 15 to 16 G
Aspect: Labour/management relations Pages 15 to 16 G
Aspect: Occupational health and safety Pages 13 to 14 G
Aspect: Training and education Page 16 G
Aspect: Diversity and equal opportunity G
Human rights G
Aspect: Investment and procurement practices G
Aspect: Non-discrimination Page 17 to 18 G
Aspect: Freedom of association and collective bargaining Page 16 G
Aspect: Child labour G
Aspect: Forced and compulsory labour Pages 17 to 18
Aspect: Security practices Pages 17 to 18
Aspect: Indigenous rights Page 15 G
Society G
Aspect: Community Pages 19 to 20 G
Aspect: Corruption Pages 11 to 12 G
Aspect: Public policy Pages 11 to 12 G
Aspect: Anti-competitive behaviour G
Aspect: Compliance G
Product responsibility G
Aspect: Product and service labelling G
Aspect: Marketing and communications G
Customer privacy G

Key: L Annual Financial Statements 2008
G Report to Society 2008
K AngloGold Ashanti website - www.anglogoldashanti.com



Glossary of
terms and acronyms

A
ASM: artisanal and small-scale miners.
Average number of employees: average attributable number of both employees and contractors employed during
the year; contractors are defined as workers in employment for longer than one year.

B
By-products: any products that arise from the core process of producing gold, including silver, uranium and
sulphuric acid.

C
Capital expenditure: total capital expenditure on mining assets to both maintain and expand operations.
CDM: Clean Development Mechanism
CIS: carbon-in-solution, a gold recovery process.
Comminution: process of breaking up ore to make gold available for treatment.
Cyanide Code: International Cyanide Management Code for the manufacture, transport and use of cyanide in the
production of gold.

D
dBA: decibels – unit of sound measurement.

E
EIA: Environmental Impact Assessment.
EITI: Extractive Industries Transparency Initiative.
Elution: process of re-dissolving gold from activated carbon.

F
FIFR: Fatal Injury Frequency Rate – the number of fatal injuries per million hours worked.

G
Global Compact: United Nations Global Compact (derived from the Universal Declaration of Human Rights; the
International Labour Organisation’s Declaration on Fundamental Principles and Rights at Work; the Rio Declaration on
Environment and Development; and the United Nations Convention Against Corruption).
Grade: the quantity of gold contained within a unit weight of gold-bearing material per tonne of ore (oz/t), or grams
per metric tonne (g/t).
GRI: Global Reporting Initiative – a multi-stakeholder process and independent institution the mission of which is to
develop and disseminate globally applicable sustainability reporting guidelines.
H
Hanging wall: upper wall or roof of mining area in underground mining.

I
IAPs: interested and affected parties.
ICMI: International Cyanide Management Institute.
ICMM: International Council on Mining and Metals.
ILO: International Labour Organisation, a UN agency for the promotion of social justice and human and labour rights.
International Cyanide Management Code: Industry standard for cyanide management – developed under the
auspices of UNEP.
IRMS: Integrated Risk Management System.


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