Mineral Resource and Mineral Reserve governance and reporting for AngloGold Ashanti

Abstract

Mineral Resource and Mineral Reserve governance is the comprehensive, overarching management process by which the Mineral Resource and Mineral Reserve is estimated, managed, and reported. Mineral Resource and Mineral Reserve governance provides the Board of Directors and investors with assurance on the integrity of the reported Mineral Resource and Mineral Reserve, which is the primary asset of the company and upon which investment decisions are based. The framework for Mineral Resource and Mineral Reserve governance of a company must be compliant with all regulatory codes as well as internal company policies and procedures. It is critical to ensure that reporting is transparent, appropriate, timeous, and reliable. Good Mineral Resource and Mineral Reserve governance should also ensure that all components in the estimation (from exploration to processing) of the Mineral Resource and Mineral Reserve are auditable and defendable. AngloGold Ashanti (AGA) is acutely aware that its primary asset is its Mineral Resource and Mineral Reserve, and has therefore established a formal Mineral Resource and Mineral Reserve governance process that has been structured to ensure that the Executive Committee and the Board have line of sight to the annual Mineral Resource and Mineral Reserve Public Reporting, as well as the review findings from a stringent internal and external review programme.