SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 or 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
Report on Form 6-K dated
11 JULY 2003
AngloGold Limited
_
(Name of Registrant)
11 Diagonal Street
Johannesburg, 2001
(P O Box 62117)
Marshalltown, 2107
South Africa____
(Address of Principal Executive Offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
Form 20-F: Form 40-F:
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):
Yes:
No:
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):
Yes:
No:
Indicate by check mark whether the registrant by furnishing the information contained in this form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes:
No:
Enclosures:
ANGLOGOLD REPORT FOR THE QUARTER AND YEAR ENDED 31 DECEMBER 2000,
PREVIOUSLY FILED WITH THE SEC IN HARD COPY -- REFILED TODAY, ON EDGAR
Increased production and operating profit with steady earnings
Group results for the quarter...
Gold production up 2% while operating profit increases by 9%.
Headline earnings increased by 1% to R430 million despite increased interest, exploration and operating costs.
Net loss is R131.5 million, as a result of asset impairments.
...and for the year
Gold production rises 5% to 7.24 million ounces.
Operating profit increases by 6% to R3.27 billion.
Headline earnings decrease by 11% to R1.77 billion.
Final dividend of R6.50 per share declared, giving R14.00 for the year and a 6.4% yield.
Regional operating results for the quarter
SOUTH AFRICA
Operating profit is up 3% despite a 4% decrease in gold production due to reduced shifts in December.
There is strong production from most operations, led by Great Noligwa, Kopanang, Tau Lekoa and Savuka.
Performances from Bambanani, Joel and Mponeng continue to disappoint.
Rand cash costs are up 4% to R50,785 per kilogram, but dollar costs are down 4% to $208 per ounce.
Completion of the sale of Elandsrand and Deelkraal to Harmony is expected soon.
AFRICA
Morila comes into production with 57,000 attributable ounces at $88 per ounce.
Production at Sadiola decreases as planned.
Navachab costs and production both improve.
The Yatela project is on target and the Geita transaction completed.
NORTH AMERICA
Gold production increases by 23% with the introduction of Cortez ore at Jerritt Canyon.
Production costs are up owing to diesel fuel increases and the cost of Cortez ore.
Cripple Creek & Victor J.V. production is marginally down and fuel price increases push costs up by 2%.
SOUTH AMERICA
Gold production is 14% higher at 122,000 ounces.
Cash costs are up 11% due to wage increases, Serra Grande maintenance and increased tonnage at Cerro Vanguardia.
AUSTRALASIA
Production levels are maintained at 142,000 ounces.
Sunrise Dam production up 2% but cash costs increase by 2%.
Brocks Creek operation closes while Pine Creek production improves and costs reduced by 20%.
Boddington production is steady, but mining of marginal ore and stockpiles in the end-of-life ore-body increases costs.
Australasian office will move from Melbourne to Perth in March 2001.
Quarter
ended
Dec
2000
Quarter
ended
Sept 2000
Year
ended
Dec
2000
Year
ended
Dec
1999
Quarter
ended
Dec
2000
Quarter
ended
Sept 2000
Year
ended
Dec
2000
Year
ended
Dec
1999
Rand/Metric
Dollar/Imperial
Gold
Produced
-
kg/oz
000
57,906 56,924
225,295
215,166 1,862 1,830 7,243 6,918
Revenue
-
R/kg/$/oz
sold
70,819
67,460
67,158
61,830 289 300 308 315
Total
cash
costs
-
R/kg/$/oz
produced
48,255
46,914
46,404
41,979 197 209 213 213
Total
production
costs
-
R/kg/$/oz
produced
55,454
53,967
53,334
47,842 226 240 245 244
Operating
profit
-
R/$
million
889 814
3,272
3,088 116 115 469 505
Net capital expenditure
- R/$ million
938
438
2,009
1,330
138
63
297
218
Net (loss) / profit
- R/$ million
(132)
394
1,116
2,654
(18)
55
166
434
Net (loss) / earnings
- cents per share
(123)
369
1,043
2,695
(16)
52
155
441
Headline earnings
- cents per share
402
399
1,658
2,485
52
56
237
407
Headline (loss) / earnings before
deferred taxation rate change
- cents per share
402
399
1,658
2,018
52
56
237
328
Dividends
- cents per share
1,400 2,000
196 328
REPORT
FOR THE QUARTER AND YEAR ENDED 31 DECEMBER 2000
ANGLOGOLD LIMITED Registration No. 1944/017354/06 Incorporated in the Republic of South Africa
Certain forward-looking statements
Certain statements contained in this document, including without limitation, those concerning the economic outlook for the gold mining industry, expectations regarding gold prices and production, the completion and commencement of commercial operations of certain of AngloGold's exploration and production projects, and its liquidity and capital resources and expenditure, contain certain forward-looking statements regarding AngloGold's operations, economic performance and financial condition. Although AngloGold believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. Accordingly, results could differ materially from those set out in the forward-looking statements as a result of, among other factors, changes in economic and market conditions, success of business and operating initiatives, changes in the regulatory environment and other government actions, fluctuations in gold prices and exchange rates, and business and operational risk management.
Throughout this document, $ refers to US dollars, unless otherwise stated.
Published by AngloGold's Corporate Communications Department
PO Box 62117 Marshalltown 2107 South Africa
Telephone: +27 11 637 6147 Fax: +27 11 637 6399/6400 E-mail: investors@anglogold.com
Dear Shareholder
Overview
The year 2000 was a tough one for the gold industry and AngloGold. The gold price has continued to be at its lowest in two decades and AngloGold experienced disappointing operational performance in its South African operations. In contrast, the year also saw a major expansion launched in the company's key Australian mine, Sunrise Dam; the launching of a new mine, Yatela, in Mali; and the acquisition of substantial interests in two other African mines: Morila, also in Mali, and Geita in Tanzania. Together these expansions and acquisitions will contribute some 20 million ounces of production, at an average cash cost of $175 per ounce to this company over the next 15 years.
The quarter
Gold production increased by 2% and the received price by 5%, while total costs were 3% higher than in the September quarter. Operating profit at R889 million rose by 9% and headline earnings, at R430 million, showed a 1% improvement.
After a poor start to the year in South Africa,
five problem operations were identified. We committed ourselves to overcoming their shortcomings and posting improvements in their performance during the year, or closing or disposing of them. As illustrated once more in this quarter's results, Great Noligwa and TauTona are now performing at or above expectations. During the quarter, we announced the sale of Elandsrand and Deelkraal to Harmony in December for R1 billion this transaction should be concluded in February 2001. Bambanani is still underperforming because of a lack of access to higher-grade panels. Similarly, at Joel, significant increases in mining efficiency have not been rewarded by increased gold production because of disappointing recovered grade. We will act decisively, as we have with Elandsrand and Deelkraal, if we are not able to improve the performance of Bambanani and Joel.
A very pleasing feature of the operating
performance in South Africa has been the continued improvement in safety. Indeed, since the intensive safety drive began two years ago, fatal accidents decreased by 52%, the fatality rate by 42%, and lost-time accidents by 33%. This is a tribute to the effort and commitment of all employees and all managers. Despite these
improvements, however, we remain committed to eliminating accidents.
Elsewhere, the operations in South America,
Africa and Australasia continue to deliver impressive results. The Morila operation has been especially rewarding, producing 57,000 attributable ounces in its first operating quarter at a cash cost of $88 per ounce. In North America, increasing costs are a continuing concern.
This quarter, the regular review of assets in the
light of current realities (in particular our conservative view of future gold price of $270 in 2001, rising to $310 in 2005) has resulted in the impairment of several assets, the most significant being Jerritt Canyon, Ergo and Elandsrand which are now carried on our books at values which realistically reflect their actual cash-generating capacity at today's gold price. These impairments, amounting to some R700 million, or 6% of the company's net asset value (or market capitalisation), are reflected in the income statement with a significant impact on our net profit line. The review reduced the company's reserve ounces by 10%.
The year
Headline earnings for the year 2000 at R1.77 billion were 11% lower than in 1999.
In 2000, we produced 5% more gold, some 7.2
million ounces, and increased operating profit by 6% to R3.3 billion. Given the operating problems at some of our engine room assets, this is more than a modest achievement. However, we are acutely aware that our earnings stream has disappointed our shareholders and the share price reflects this.
2001 and beyond
Looking forward to this year and beyond, there are a number of challenges facing us. The first is to complete the improvement in operating performance in South Africa. As indicated above, the major focus is on Bambanani and Joel. The second, given the conservative planning view adopted by the company on the gold price, is to drive down costs.
Management has set itself the target of
reducing overhead costs by at least 10% during 2001, and will report progress on this target on a regular basis.
LETTER FROM THE CHAIRMAN AND DEPUTY CHAIRMAN
We will also be seeking to reduce operating
costs. In South Africa, our target is to hold costs neutral in rand terms. If the rand should continue to devalue against the US dollar, the currency in which this company's revenues are earned, the financial impact will be one of increased margins. Outside of South Africa, where mining is mainly open-pit and there is a significant exposure to costs of petroleum products, these operations have had to contend with much higher fuel prices. Nevertheless, management in all regions will seek cost savings.
When AngloGold was established in early
1998, its key objective was to change the character of the company from a series of South African mines with finite lives, and no growth opportunities, to a company with a broad portfolio of geographic and geological gold mining assets. In 2000, 25% of our production and 33% of our earnings came from outside South Africa and from open-pit or shallow underground mining.
In 2001, AngloGold will continue to invest
strongly in its future, both inside South Africa, where the new mine, Moab Khotsong, and the shaft-deepening project at Mponeng are well advanced, and at Sunrise Dam, Yatela, Morila and Geita.
Dividend
We are pleased to announce the final dividend for 2000 of R6.50 per share, giving an annual dividend for the year of R14.00 per share, and a yield of 6.4% at the current share price of R220.
Draft Mineral Development Bill
The South African government has published for comment, draft legislation which aims to fundamentally redraw mining law. We see the need to restructure the regulation of mining to free the industry from its Apartheid legacy. We accept the right and duty of governments to regulate mining in the public interest. For the industry to continue to thrive, however, it is imperative that:
regulations be based on clear and objective
criteria, spelt out in legislation;
present or future investors have a right of
appeal to the Courts; and
investors who believe that the new regulation
infringes on their property rights, should have access to fair compensation as determined by the Courts.
The draft legislation, as we read it, is seriously
deficient in this regard. The Minister of Mineral and Energy Affairs has repeatedly expressed her desire not to disrupt existing mineral activities, and
we are therefore confident that the draft will be corrected to accommodate these shared concerns.
Nicky Oppenheimer
In December last year, Nicky Oppenheimer announced that he was stepping down as chairman of AngloGold to allow him to focus his attention on his other business responsibilities. We record our gratitude to Nicky for his energetic and dedicated leadership of the board during AngloGold's formative and challenging years. We are pleased that he has agreed to continue to serve on the board as a non-executive member.
RUSSELL EDEY Deputy Chairman
30 January 2001
BOBBY GODSELL Chairman and Chief Executive Officer
OVERVIEW
Despite the reduction in the number of operating shifts for the South African operations due to the Christmas and election holidays, AngloGold's operating profit for the quarter increased by 9% or R75.0 million. Headline earnings were marginally higher at R430 million or 402 cents per share. The increased operating profit for the quarter was offset by the cost of the company's growth strategy, and in particular the acquisition of Morila and Geita, which led, as anticipated, to higher interest payments. There was also increased spending on exploration during the quarter.
For planning purposes AngloGold continues
to apply conservative views of future gold prices ($270 in 2001; rising to $310 by 2005). To achieve some degree of revenue certainty and to enable the company to meet its return targets, the policy of hedging part of our production will continue. It is a strategy, which for more than a decade, has allowed AngloGold to achieve higher prices for its gold than spot. It is expected that this pattern will continue into the future.
The application of these conservative
planning parameters has produced an impairment in a number of the company's assets. This has resulted in an accounting loss for the quarter of R131.5 million.
Gold production for the quarter was up 2% to
57,906 kilograms (1.86 million ounces). Although the received price for gold, in rand terms, rose by 5% to R70,819 per kilogram, in dollar terms the price decreased by 4% to $289 per ounce.
While dollar-denominated cash costs fell by
6% to $197 per ounce due to the declining exchange rate, rand-denominated costs increased by 3% to R48,255 per kilogram for the company as a whole. Increasing local currency costs are driven by fixed costs which do not reduce in line with fewer working shifts, as was the case during this quarter. However, management is committed to achieving very significant cost savings during the course of 2001, by significantly reducing overheads, corporate and operating costs across the group.
The quarterly return on capital employed is
11%, while return on shareholder equity is unchanged at 11%. These returns remain competitive in relation to other senior gold producers, but they are below management's target for the company of 10% and 15% respectively.
The sale of the Elandsrand and Deelkraal
operations to Harmony was announced during the quarter and this transaction should be completed during February.
For the year, gold production went up 5% to
225 tonnes (7.24 million ounces) while operating profit rose by 6% to R3.27 billion. As has been stated on several recent occasions, AngloGold is in a vigorous growth mode, and approximately R2 billion was directed to growth projects in 2000 the Morila and Yatela mines in Mali, Geita in Tanzania, Sunrise Dam in Australia and Moab Khotsong and Mponeng in South Africa. This reduced headline earnings by 11% to R1.77 billion year-on-year.
SOUTH AFRICA
Overall performance
At the end of the first quarter, management identified five South African mines as performing poorly. Of those, Great Noligwa and TauTona now have performance levels at or above management's expectations. Elandsrand (along with Deelkraal) is being sold. Bambanani has continued to produce unsatisfactory results throughout 2000 and significant improvements are expected in its performance. Similarly, Joel's grade problems must be resolved. If the performance of these two mines cannot be corrected, decisive action will be taken as was the case with Elandsrand and Deelkraal.
Overall, during the fourth quarter operating
profit increased by 3% to R525 million, despite a 4% reduction in gold production to 41,098 kilograms (1.32 million ounces).
Although dollar-denominated total cash costs
declined to $208 per ounce with the falling value of the rand, total rand cash costs rose by 4% to R50,785 per kilogram. These rand costs are the greatest challenge for the South African operations in 2001.
It is with regret that the company reports the
death of ten employees in work-related accidents during the quarter.
The year 2000 saw the South Africa operations
achieve their best safety performance ever. In every measure fatal accidents, fatal frequency rates, lost-time injury, and lost-time injury frequency rates the company produced the lowest numbers in its history. Matjhabeng and Tshepong won prestigious Mine Health and Safety
OPERATING AND FINANCIAL REVIEW
Council awards for extended fatality-free performances.
Indeed since the major drive on safety
commenced at the end of 1998, fatal accidents have been reduced by 52%, the fatal frequency rate by 42% and the lost-time injury frequency rate by 21%.
Management realises that much remains to be
done, but is enormously encouraged by the improvements achieved so far.
Mine performance for the quarter
While Great Noligwa was unable to sustain the excellent results of the previous quarter, its results showed improved performance over the first half of the year. Kopanang returned to the production levels of previous quarters by focusing some crews on higher-grade areas with a resultant increase in recovered grade (16%) and gold produced (10%). At Tau Lekoa, excellent performance was sustained on the production front, but the exceptional productivity results of the previous quarter were not repeated.
Lockup of gold resulted in a poor performance
at Bambanani, despite increased ore production and improved grade. Here, measures have been put in place to improve mining efficiency and these are already showing positive results. At Tshepong, the volume mined improved, but gold production dropped by 17% following a fall in recovered grade in October. However, the mine finished stronger in December and is expected to maintain output at this level. The scaling down of operations at Matjhabeng, prior to shaft closure, is reflected in its results. Despite record mining volumes achieved at Joel, a disappointing lower grade resulted in gold production falling by 16%. Plans are in place to improve Joel's profitability through stopping extra overtime shifts and reviewing the premium paid for continuous operations, thus downscaling towards more selective mining.
Gold production at TauTona was down by 4%
as a result of power failures in both the Lower and Upper Carbon Leader sections. At Mponeng, suspension of mining operations in some areas due to seismic risk, as well as lack of flexibility in production following the loss of multi-blast conditions in 1999, were the main contributors to the drop in production of 17%. Multi-blast permission was restored in August, and reef development in the fourth quarter has increased 45% above the third quarter, and will ensure acceptable levels of flexibility during the second half of 2001. At Savuka, production continued to improve with an increased focus on quality factors and a reduction in stoping width. The loss of face length owing to production being stopped in some
panels for safety reasons, resulted in a 9% decline in gold production at Deelkraal. Gold output remained at the lower level of the previous quarter at Elandsrand, despite improved grade and an increased focus on vamping.
Ergo maintained a steady performance with all
productivity parameters showing improvements over the previous period.
AFRICA
Overall performance
The Africa region had an excellent quarter with the Morila mine in Mali coming into production and recording a creditable 57,000 attributable ounces for the quarter. Attributable gold production for the quarter thus increased by 58% to 132,000 ounces at a total cash cost of $105 per ounce, an improvement of 18% on the previous quarter.
The region also had an outstanding year with
gold production of 366,000 attributable ounces, an increase of 40% compared with 1999. Total cash costs for the region for the year of $124 per ounce were 17% lower than for the previous year.
Mine performance for the quarter
At Sadiola (38% attributable), despite mill throughput rising by 3%, attributable production for the quarter decreased by 14% to 54,000 ounces largely as a result of treating lower-grade ore as expected and planned. However, attributable production for the year increased by 13%. High- grade stockpile ore was treated during the third quarter to circumvent the effects of the rainy season. As a result of the decrease in production, total cash costs increased by 12% to $121 per ounce. The mine achieved a 5 Star NOSA rating during the quarter.
Morila (40% attributable) had its first gold pour
on 18 October and the current quarter is its first reportable production quarter. The commissioning of the mine exceeded expectations with the oxide circuit producing 57,000 attributable ounces at a total cash cost of $88 per ounce. Commissioning of the sulphide metallurgical plant began in January 2001.
The Geita transaction, in which AngloGold
acquired a 50% interest in the Geita mine from Ashanti, became unconditional on 30 November and was completed on 15 December 2000. Geita results will be included with effect from the first quarter of 2001.
Over this quarter, production at Navachab
rose by 5%
to 22,000 ounces at a cash cost of
$163 per ounce, an improvement of 8%.
The mine
was declared a continuous operation by the Namibian Minister of Labour, and agreements were finalised with the Mineworkers' Union of Namibia on payment for work on Sundays and public holidays and on the election of a permanent union representative.
Construction at the Yatela mine is on schedule
with the first gold pour planned for June 2001. Mining in the pit began in December, while construction of the heap leach plant and general infrastructure is at an advanced stage. The safety performance target set for 2000 was achieved. An environmental audit confirmed that the mine had satisfied the requirements of the Environmental Impact Assessment for mine construction.
NORTH AMERICA
Overall performance
North American gold production increased by 23% in the fourth quarter compared with the third quarter, although operating profit decreased during the same period due to higher cash production costs. These costs rose primarily as a result of increases in the price of petroleum products and the cost of purchasing ore from Cortez Gold Mines for custom processing at the Jerritt Canyon operation. In accordance with contract terms, the cost of the ore is reduced by a portion of the gold recovered being allocated to Jerritt Canyon.
Mine performance for the quarter
At Jerritt Canyon (70% attributable), the fourth quarter's production at 80,000 ounces, was 54% up on the third quarter as a result of processing of Cortez Gold Mines ore, at grades significantly higher than stockpile ore grades. Tonnage processed in the fourth quarter was approximately 11% lower than the third quarter, but higher ore grades resulted in increased gold production for the quarter. Total cash costs for the fourth quarter were $243 per ounce, 8% higher than the third quarter.
Production at Cripple Creek & Victor J.V.
(67% attributable, with a 100% interest in production ounces, subject to contractual obligations by the joint venture partners) was 64,000 ounces, 2% lower than the exceptional third quarter levels. Total cash costs were $186 per ounce, some 2% up on the third quarter as a result of higher diesel fuel prices.
SOUTH AMERICA
Overall performance
Gold production at the South American operations totalled 122,000 ounces, an increase of 14%, compared with the previous quarter. Total cash costs for the quarter were 11% higher at $160 per ounce.
For the year, gold production increased 3% to
439,000 ounces. Total cash costs of $139 per ounce were 5% higher than in the previous year, as a result of higher labour costs at Morro Velho and Serra Grande after a two-year wage freeze deal, and unanticipated costs arising from excessive rains.
Compared with 1999, there was an increase of
some $1.9 million in capital expenditure, which was focused on mine development and improvements to maintain capacity; and the raising of quality and safety standards at the operations.
Mine performance for the quarter
Increased gold production in the region can be explained by the higher volumes of ore and some 14,300 ounces of gold resulting from a clean-up at the Nova Lima plant at Morro Velho. Production was stable at Cerro Vanguardia (46.25% attributable), where higher volumes compensated for a lower grade. The improvement at Morro Velho excluding the additional gold from clean-up, made up for reduced production at Serra Grande (50% attributable), which resulted from an unexpected, temporary decline in grade at Mina III.
Increased costs for the region were mainly due
to higher labour costs at Serra Grande, following a union agreement signed in November; to corrective maintenance on the Serra Grande tailings wall necessitated by heavier than usual rain in December; and to the higher tonnage treated at Cerro Vanguardia.
At Cerro Vanguardia, the improving safety
trend noted in previous quarters continues. The mine has been awarded a 4 Star NOSA rating. Serra Grande remains below the Ontario benchmark, and Morro Velho statistics were adversely affected by a fatality in November at the Raposos mine, which is on care and maintenance.
The exploration programme in South America
continues, with encouraging results in Peru and in Brazil where the Corrego do Sitio project progresses with new resources being confirmed.
AUSTRALASIA
Overall performance
The December quarter consolidated the improvements achieved in the previous quarter in the region, by maintaining production at 142,000 ounces.
During the quarter actions were initiated to
realise significant corporate cost savings by the rationalisation and relocation of the corporate office. This office will relocate from Melbourne to Perth during the first quarter of 2001, so as to be situated closer to the mining operations.
AngloGold Australasia staged a recovery in the
second half of 2000 after cyclonic rains in northern and western Australia reduced production in the first half of the year. Total production for the year was 524,000 ounces, due to an excellent performance from the Sunrise Dam mine and the unexpected six-month extension of treatment at the Brocks Creek mine. In April, the AngloGold board approved a $63 million expansion of Sunrise Dam. Work on the pit cutback and the plant upgrade began in the second half of the year. The expansion will take the life of the operation to 2007 and lift production from the mine to above 260,000 ounces per year. A major feasibility study was completed in December at Boddington, based on expansion of the operation to a throughput capacity of more than 25 million tonnes per annum, with annual production of around 600,000 ounces. A decision is expected later in 2001.
Mine performance for the quarter
Sunrise Dam has continued to perform strongly, with production rising to 65,000 ounces for the quarter, an increase of 2% on the previous quarter. Although cash costs increased to $152 (A$287) per ounce, up by 2% relative to the previous period, the mine remains amongst the lowest cost producers in Australia. The major cut- back of the pit is now well under way, resulting in a 27% increase in material moved at the mine from 4.1
million bank cubic metres (bcm) in the previous
quarter to 5.2 million bcm in the current period. The expansion of the processing plant is proceeding on schedule and within budget.
Production from the Pine Creek operations of
46,000 ounces was the same as that achieved in the previous quarter, notwithstanding the closure of the Brocks Creek mine during the period. The operations were successful in reducing cash costs by 20% to $198 (A$374) per ounce. At Union Reefs, ore has been stockpiled to allow the suspension of mining in the main Crosscourse pit until the end of the current wet season. Mill feed will be sourced from stockpiles and smaller satellite pits during this period. Future activity at
Brocks Creek will be limited to the completion of site rehabilitation.
Boddington (33.3% attributable) also matched
the performance of the previous quarter with gold production of 19,000 ounces. Despite the marginal nature of the remnant ore and stockpiles that are currently being processed at the mine, cash costs decreased slightly to $208 (A$392) per ounce. The Final Feasibility Study for the expansion project has now been completed. The project participants are currently appraising both the final study documentation and the results.
Problems arising from the remote and difficult
operating environment at the Tanami mine again depressed production in the fourth quarter. At 12,000 ounces, production was down by 14% compared with the previous period. Weather conditions were the primary cause of the difficulties, with access to areas of higher-grade ore severely restricted. Although a slight reduction in cash costs was achieved (down 10% from the previous quarter), they remain unacceptably high at $267 (A$504) per ounce.
With the onset of the wet season, exploration
activities started to wind down towards the end of the quarter. Encouraging results have been received from the Sickle Prospect, north of the Sunrise Dam mine. A new high-grade zone has been identified in the footwall of the Western Shear zone at Sunrise Dam, providing potential to further expand the reserves.
The spot gold price at the close of the fourth quarter of 2000 was $272 per ounce, almost unchanged from the price at the end of September. However, the market was under pressure for most of the quarter, and the average price of $269 per ounce for the quarter was 2.5% lower than the average of $276 recorded for the third quarter of 2000.
Much of this weakness came from short-term speculation against the gold price in the wake of the short-lived official intervention on behalf of the euro in late September/October. The intervention lifted the euro against the US dollar, and with it the spot price of gold, but selling by funds and speculators started immediately it became clear that no intervention would be sustained. For the quarter, the gold price traded within a $10 range between $275 and $265 per ounce. Since the end of the quarter, however, the New York Comex has reported increased short selling of the metal, and the price tested resistance below $265 per ounce, before short covering pulled the price back within the trading range for the quarter.
As has been the case for some time, the currency markets remained more active than the gold market. The US dollar maintained its dominance for much of the quarter, but began to show signs of weakness in December. This weakness has continued into the new year, and is reflected in comfortable gains by both the euro and the Australian dollar. However, whilst the rand suffered from the strength of the US dollar, it has not benefited particularly from the recent weakness of the US currency. The fourth quarter saw the rand fall to a low of R7.85 against the dollar, and trade at an average exchange rate of R7.60 compared with R7.00 for the third quarter of the year. Since the end of 2000, there has been active speculation against the rand that took the local currency at one point to a new record low of just over R8.00 to the US dollar. It has since stabilised in a range between R7.80 and R7.90. Local gold producers benefited from this currency move as it offered protection from the weaker dollar price of gold. The average rand price of gold for the final quarter of 2000 was R65,759, up by almost 6% from the average local price of R62,176 per kilogram for the previous quarter.
Looking to the year ahead, most commentators see the gold price in a stable state, with small likelihood now of radical weakening. Evolving circumstances in the currency and interest rate markets are likely to support the metal, but the absence of investment interest in gold remains the most important factor in the current price trend for the metal. With solid physical support underlying the market, there should be opportunities for the price to rally in response to favourable news from other markets from time to time.
GOLD MARKET
NET DELTA OPEN HEDGE POSITION AS AT 31 DECEMBER 2000
As at 31 December 2000, the group had outstanding the following net forward pricing commitments
against future production. A portion of these sales consists of US dollar-priced contracts which have been converted to rand prices at average annual forward rand values based on a spot rand/dollar rate of 7.57 available on 31 December 2000.
Kilograms
Sold
Forward Price
rand per kg
Forward Price
$ per oz
Ounces
Sold
`000
12 Months ending
31 December 2001
169,166
R74,574
$301
5,439
2002
102,949
R81,600
$313
3,310
2003
71,979
R87,732
$317
2,314
2004
51,614
R94,099
$319
1,659
2005
43,111
R109,164
$346
1,386
January 2006 December 2010
115,881
R121,742
$335
3,726
554,701
R91,944
$317
17,834
The marked to market value of all hedge transactions making up the hedge positions in the above table
was R1,393 million ($184 million) as at 31 December 2000. The value was based on a gold price of $272.80 per ounce, exchange rates of R/$7.57 and $/A$ 0.5582 and the prevailing market interest rates and volatilities at the time.
As at 30 January 2001, the marked to market value of the hedge book was R2.3 billion ($292.9 million)
based on a gold price of $263.35 per ounce and exchange rates of R/$7.90 and $/A$0.5430 and the prevailing market interest rates and volatilities at the time.
Note to AngloGold Hedge Position as at 31 December 2000 *The delta position indicated hereafter reflects the nominal amount of the option multiplied by the mathematical probability of the option being exercised. This is calculated using the Black and Scholes option formula with the ruling market prices, interest rates and volatilities as at 31 December 2000.
GOLD MARKET
Year
2001
2002
2003
2004
2005 2006-2010
Total
DOLLAR GOLD
Forward Contracts
Amount (kg)
87,901
41,427
37,263
28,854
23,437
77,970
296,852
$ per oz
$308
$317
$324
$324
$335
$350
$326
Put Options Purchased
Amount (kg)
10,109
3,110
4,977
1,866
20,062
$ per oz
$313
$407
$362
$433
$351
*Delta (kg)
5,858
3,020
3,799
1,643
14,320
Put Options Sold
Amount (kg) $ per oz *Delta (kg)
Call Options Purchased
Amount (kg)
2,658
741
667
572
4,638
$ per oz
$342
$340
$350
$360
$345
*Delta (kg)
139
142
181
186
648
Call Options Sold
Amount (kg)
24,503
11,885
10,463
3,303
1,704
2,233
54,092
$ per oz
$305
$373
$372
$342
$358
$338
$338
*Delta (kg)
8,590
1,432
2,211
1,391
723
1,331
15,678
RAND GOLD
Forward Contracts
Amount (kg)
41,382
41,474
16,706
13,311
12,700
18,433
144,006
Rand per kg
R73,962
R78,433
R83,670
R89,500 R115,704
R127,526
R88,350
Put Options Purchased
Amount (kg)
2,644
2,644
Rand per kg
R71,668
R71,668
*Delta (kg)
1,457
1,457
Put Options Sold
Amount (kg) Rand per kg *Delta (kg)
Call Options Purchased
Amount (kg) Rand per kg *Delta (kg)
Call Options Sold
Amount (kg)
18,214
14,357
4,519
1,875
3,119
1,875
43,958
Rand per kg
R78,116
R87,003
R93,766
R93,603 R125,774
R93,603
R87,330
*Delta (kg)
3,561
3,883
1,567
1,157
1,445
1,602
13,215
AUS DOLLAR (A$) GOLD
Forward Contracts
Amount (kg)
20,660
12,597
10,731
5,443
6,221
31,726
87,377
A$ per oz
A$518
A$612
A$554
A$529
A$622
A$568
A$562
Call Options Purchased
Amount (kg)
4,121
6,687
778
4,665
31,725
47,977
A$ per oz
A$717
A$728
A$703
A$704
A$684
A$695
*Delta (kg)
103
742
117
1,414
15,180
17,556
Call Options Sold
Amount (kg) A$ per oz *Delta (kg)
RAND DOLLAR (000)
Forward Contracts
Amount ($)
150,172
20,000
170,172
ZAR per $
R 7.32
R 6.48
R 7.22
Put Options Purchased
Amount ($)
190,000
190,000
ZAR per $
R 7.33
R 7.33
*Delta ($)
41,726
41,726
Put Options Sold
Amount ($)
90,000
90,000
ZAR per $
R 7.25
R 7.25
*Delta ($)
17,341
17,341
Call Options Purchased
Amount ($)
30,470
5,450
35,920
ZAR per $
R 7.30
R 6.48
R 7.17
*Delta ($)
20,127
5,170
25,297
Call Options Sold
Amount ($)
264,170
33,450
8,000
305,620
ZAR per $
R 7.82
R 7.06
R 6.94
R 7.71
*Delta ($)
141,676
27,644
7,297
176,617
AUS DOLLAR (000)
Forward Contracts
Amount ($)
39,161
43,748
29,428
112,336
$ per A$
A$.65
A$.58
A$.59
A$.61
ANGLOGOLD HEDGE POSITION AS AT 31 DECEMBER 2000
1. The results included herein for the quarter and twelve months ended 31 December 2000, which are
audited, have been prepared using accounting policies which are in accordance with the standards issued by the International Accounting Standards Committee and the South African Institute of Chartered Accountants. Where appropriate, comparative figures have been restated.
2. During the quarter 3,600 ordinary shares were allotted in terms of the Share Incentive Scheme, thereby
increasing the number of ordinary shares in issue at 31 December 2000 to 107,021,087.
3. It was previously reported that AngloGold had entered into a non-binding heads of agreement for the
acquisition of a 50% joint venture interest in the Geita project in Tanzania from Ashanti Goldfields Company Limited (Ashanti). On 26 June 2000 it was announced that the formal agreement had been signed with Ashanti. The transaction, which was subject to regulatory and governmental approvals as well as Ashanti shareholders' and bank creditor ratification, was finalised on 15 December 2000.
4. Orders placed and outstanding on capital contracts as at 31 December 2000 totalled R447.4
million
(30 September 2000: R746.5 million), equivalent to $59.1 million (30 September 2000: $103.2 million) at the rate of exchange ruling on that date.
5. On 27 November 2000, AngloGold issued a Cautionary Notice advising shareholders to exercise caution
when dealing in AngloGold shares. On 19 December 2000 it was announced that AngloGold had entered into an agreement with Harmony Gold Mining Company Limited, whereby Harmony had agreed, in principle, to purchase AngloGold's Elandsrand and Deelkraal mines, for the sum of R1 billion. At the same time, AngloGold issued a further Cautionary Notice, advising shareholders to continue to exercise caution in dealing in AngloGold shares, as AngloGold is continuing discussions with various parties regarding certain of its assets in the Free State.
6. Further cautionary announcement
Further to the cautionary announcements dated 27 November and 19 December 2000, shareholders are advised that AngloGold is continuing to consider its position regarding certain of its assets in the Free State and discussions are continuing with various parties. Accordingly, shareholders are advised to continue to exercise caution when dealing in AngloGold shares.
7. Dividend
The directors have today declared Final Dividend No. 89 of 650 (1999:1,100) South African cents per ordinary share for the twelve months ended 31 December 2000. Payment details are as follows:
To registered holders of ordinary shares
South African, United Kingdom and Australian Share Registers 2001
Ex-dividend date
Monday, 19 February
Last day to register for dividend and for change of address
Friday, 23 February *
Record date
Friday, 23 February
Registers closed
from to (inclusive)
Saturday, 24 February * Saturday, 3 March *
Currency conversion date for UK pounds and Australia dollars
Monday, 26 February
Dividend cheques posted
Thursday, 29 March
Payment date of dividend (includes Electronic Funds Transfers)
Friday, 30 March
*Not applicable for the Australian Share Register
NOTES
Registered members with addresses within the Rand Monetary Area who have not yet completed mandate forms authorising the payment of dividends by Electronic Funds Transfer should contact Computershare Services in Johannesburg. Members are reminded to notify the Share Registrars of changes of address or personal details.
To holders of American Depositary Shares (Each American Depositary Share (ADS) represents one-half of an ordinary share. At 31 December 2000, 32,600,630 ADSs were in issue, representing 16,300,315 shares).
2001
Ex-dividend on New York Stock Exchange
Wednesday, 21 February
Record date
Friday, 23 February
Approximate date for currency conversion into US dollars
Friday, 30 March
Approximate payment date of dividend
Monday, 9 April
For illustrative purposes, the dividend payable on an ADS was equivalent to 41.28 US cents at the rate of exchange ruling on Monday, 29 January 2001. This compares with the interim dividend of 51.06 US cents per ADS paid on 11 October 2000.
By order of the Board
R M GODSELL
R P EDEY
Chairman and Chief Executive Officer
Deputy Chairman
30 January 2001
GROUP OPERATING RESULTS
Issued Capital:
107,021,087 ordinary shares of 50 cents each 2,000,000 A redeemable preference shares 778,896 B redeemable preference shares All the preference shares are held by a wholly owned subsidiary company
Weighted average:
106,962,987 ordinary shares in issue
Statistics are shown in metric units and financial figures in South African rand.
Quarter
Quarter
Year
Year
ended
ended
ended
ended
December
September
December
December
2000
2000
2000
1999
GOLD UNDERGROUND OPERATIONS Tonnes milled
- 000
- reef
5,123
5,531
21,126
21,055
- waste
35
8
167
649
- total
5,158
5,539
21,293
21,704
Yield
- g/t
- reef
8.24
7.79
8.02
8.31
- waste
0.26
0.50
0.54
0.81
- average
8.18
7.78
7.96
8.09
Gold produced
- kg
- reef
42,202
43,073
169,468
174,994
- waste
9
4
91
527
- total
42,211
43,077
169,559
175,521
PRODUCTIVITY g/employee
- target
213
211
209
222
- actual
195
199
193
210
SURFACE AND DUMP RECLAMATION Tonnes treated
- 000
12,340
12,111
50,289
54,354
Yield
- g/t
0.33
0.31
0.32
0.30
Gold produced
- kg
4,122
3,747
15,870
16,165
OPEN-PIT OPERATIONS Tonnes mined
- 000
14,165
10,589
49,121
47,880
Stripping ratio
- t(mined-treated) /t treated
1.26
0.81
1.08
2.51
Tonnes treated
- 000
6,269
5,839
23,601
13,630
Yield
- g/t
1.85
1.73
1.69
1.72
Gold produced
- kg
11,573
10,100
39,866
23,480
TOTAL Gold produced
- kg
57,906
56,924
225,295
215,166
Revenue
- R/kg sold
70,819
67,460
67,158
61,830
Total cash costs
- R/kg produced
48,255
46,914
46,404
41,979
Total production costs
- R/kg produced
55,454
53,967
53,334
47,842
CAPITAL EXPENDITURE
- mining direct
836.6
426.0
1,850.9
1,254.6
- other
110.1
47.7
212.5
90.6
- recoupments
(8.7)
(35.8)
(54.5)
(15.0)
Net capital expenditure
938.0
437.9
2,008.9
1,330.2
GROUP OPERATING RESULTS
Issued Capital:
107,021,087 ordinary shares of 50 cents each 2,000,000 A redeemable preference shares 778,896 B redeemable preference shares All the preference shares are held by a wholly owned subsidiary company
Weighted average:
106,962,987 ordinary shares in issue
Statistics are shown in imperial units and financial figures in US dollars.
Quarter
Quarter
Year
Year
ended
ended
ended
ended
December
September
December
December
2000
2000
2000
1999
GOLD UNDERGROUND OPERATIONS Tons milled
- 000
- reef
5,647
6,097
23,287
23,209
- waste
39
9
184
715
- total
5,686
6,106
23,471
23,924
Yield
- oz/t
- reef
0.240
0.227
0.234
0.242
- waste
-
-
0.016
0.024
- average
0.239
0.227
0.232
0.236
Gold produced
- oz 000 - reef
1,357
1,385
5,448
5,626
- waste
-
-
3
17
- total
1,357
1,385
5,451
5,643
PRODUCTIVITY oz/employee
- target
6.86
6.79
6.71
7.14
- actual
6.28
6.41
6.21
6.75
SURFACE AND DUMP RECLAMATION Tons treated
- 000
13,603
13,350
55,436
59,915
Yield
- oz/t
0.010
0.009
0.009
0.009
Gold produced
- oz 000
133
120
510
520
OPEN-PIT OPERATIONS Tons mined
- 000
15,614
11,672
54,146
52,779
Stripping ratio
- t(mined-treated) /t treated
1.26
0.81
1.08
2.51
Tons treated
- 000
6,910
6,437
26,016
15,024
Yield
- oz/t
0.054
0.050
0.049
0.050
Gold produced
- oz 000
372
325
1,282
755
TOTAL Gold produced
- oz 000
1,862
1,830
7,243
6,918
Revenue
- $/oz sold
289
300
308
315
Total cash costs
- $/ounce produced
197
209
213
213
Total production costs
- $/ounce produced
226
240
245
244
Rand/US Dollar average exchange rate
7.63
6.99
6.78
6.11
CAPITAL EXPENDITURE
- mining direct
123.3
60.9
273.1
205.4
- other
16.2
6.8
31.3
14.8
- recoupments
(1.3)
(5.1)
(7.9)
(2.4)
Net capital expenditure
138.2
62.6
296.5
217.8
GROUP INCOME STATEMENT
Quarter
Quarter
Year
Year
ended
ended
ended
ended
December
September
December
December
SA Rand million
2000
2000
2000
1999
Revenue
4,297.4
4,079.6
15,971.4
14,197.1
Gold sales
4,131.3
3,903.7
15,338.0
13,473.1
Cost of sales
3,242.4
3,089.8
12,065.7
10,385.6
Cash operating costs
2,790.7
2,654.2
10,420.9
9,027.4
Other cash costs
33.1
41.0
130.9
57.7
Total cash costs
2,823.8
2,695.2
10,551.8
9,085.1
Retrenchment costs
55.1
22.1
117.8
57.6
Rehabilitation and other non-cash costs
(20.4)
13.1
9.2
54.5
Production costs
2,858.5
2,730.4
10,678.8
9,197.2
Amortisation of mining assets
416.8
378.9
1,508.5
1,199.3
Total production costs
3,275.3
3,109.3
12,187.3
10,396.5
Inventory change
(32.9)
(19.5)
(121.6)
(10.9)
Operating profit
888.9
813.9
3,272.3
3,087.5
Corporate administration and other expenses
48.9
45.6
174.7
178.7
Market development costs
10.0
25.9
81.7
90.6
Research and development
20.2
12.4
53.6
42.7
Exploration costs
109.7
74.3
309.3
286.8
Profit from operations
700.1
655.7
2,653.0
2,488.7
Finance costs
154.2
121.1
480.5
321.3
Unwinding of decommissioning obligation
0.9
0.8
2.4
18.1
Exchange gain on transactions other than sales
18.3
1.3
23.7
17.3
Interest receivable
43.8
59.5
249.5
436.6
Growth in AngloGold Environmental Rehabilitation Trust
11.4
4.6
25.2
26.3
Income from associates before taxation
5.1
3.3
26.8
43.2
Dividends received from other investments
-
-
-
4.8
Profit on sale of assets
23.4
21.7
51.7
25.6
Profit before exceptional items
647.0
624.2
2,547.0
2,703.1
Profit on sale of associate
-
-
-
543.2
Impairment of mining assets
708.5
-
708.5
-
Amortisation of goodwill
39.0
32.4
135.3
335.8
Termination of retirement benefit plans
9.7
-
9.7
-
(Loss) / profit before taxation
(110.2)
591.8
1,693.5
2,910.5
Taxation
(25.3)
181.9
490.9
227.7
Normal taxation
106.2
123.4
534.2
649.8
Deferred taxation
- current
64.3
58.5
152.5
37.8
- exceptional items
(195.8)
-
(195.8)
-
- rate change
-
-
-
(459.9)
(Loss) / profit after taxation (84.9)
409.9
1,202.6
2,682.8
Minority interest
46.6
16.0
87.0
28.9
Net (loss) / profit
(131.5)
393.9
1,115.6
2,653.9
Headline earnings The net (loss) / profit has been adjusted by the following to arrive at headline earnings: Net (loss) / profit
(131.5)
393.9
1,115.6
2,653.9
Profit on sale of associate
-
-
-
(543.2)
Impairment of mining assets
708.5
-
708.5
-
Deferred taxation on impairment of mining assets
(195.8)
-
(195.8)
-
Amortisation of goodwill
39.0
32.4
135.3
335.8
Termination of retirement benefit plans
9.7
-
9.7
-
Headline earnings
429.9
426.3
1,773.3
2,446.5
Deferred taxation rate change
-
-
-
(459.9)
Headline earnings before deferred taxation rate change
429.9
426.3
1,773.3
1,986.6
Earnings per ordinary share - cents - Net (loss) / earnings
(123)
369
1,043
2,695
- Headline
402
399
1,658
2,485
- Headline before deferred taxation rate change
402
399
1,658
2,018
Dividends - Rm
1,498.2
2,058.9
- cents per share
1,400
"The results have been prepared in accordance with International Accounting Standards."
2,000
GROUP INCOME STATEMENT
Quarter
Quarter
Year
Year
ended
ended
ended
ended
December
September
December
December
US Dollar million
2000
2000
2000
1999
Revenue
564.6
582.1
2,299.3
2,323.6
Gold sales
542.8
557.1
2,208.1
2,205.2
Cost of sales
426.4
442.0
1,739.6
1,699.9
Cash operating costs
367.1
379.7
1,502.6
1,477.5
Other cash costs
4.3
5.9
18.8
9.4
Total cash costs
371.4
385.6
1,521.4
1,486.9
Retrenchment costs
7.2
3.2
16.5
9.4
Rehabilitation and other non-cash costs
(2.7)
1.9
1.8
9.1
Production costs
375.9
390.7
1,539.7
1,505.4
Amortisation of mining assets
54.8
54.2
217.2
196.3
Total production costs
430.7
444.9
1,756.9
1,701.7
Inventory change
(4.3)
(2.9)
(17.3)
(1.8)
Operating profit
116.4
115.1
468.5
505.3
Corporate administration and other expenses
6.4
6.5
25.3
29.3
Market development costs
1.4
3.7
12.0
14.8
Research and development costs
2.7
1.8
7.7
7.0
Exploration costs
14.4
10.6
44.0
46.9
Profit from operations
91.5
92.5
379.5
407.3
Finance costs
20.3
17.4
68.9
52.5
Unwinding of decommissioning obligation
0.1
0.1
0.4
3.0
Exchange gain on transactions other than sales
2.4
0.2
3.0
2.9
Interest receivable
5.8
8.5
36.8
71.4
Growth in AngloGold Environmental Rehabilitation Trust
1.5
0.7
3.6
4.4
Income from associates before taxation
0.7
0.5
4.0
7.1
Dividends received from other investments
-
-
-
0.7
Profit on sale of assets
3.1
3.1
7.1
4.2
Profit before exceptional items
84.6
88.0
364.7
442.5
Profit on sale of associate
-
-
-
88.7
Impairment of mining assets
92.9
-
92.9
-
Amortisation of goodwill
5.1
4.6
19.4
55.1
Termination of retirement benefit plans
1.3
-
1.3
-
(Loss) / profit before taxation
(14.7)
83.4
251.1
476.1
Taxation
(3.2)
25.9
73.2
37.2
Normal taxation
14.0
17.5
77.8
106.4
Deferred taxation
- current
8.5
8.4
21.1
6.2
- exceptional items
(25.7)
-
(25.7)
-
- rate change
-
-
-
(75.4)
(Loss) / profit after taxation (11.5)
57.5
177.9
438.9
Minority interest
6.1
2.3
12.1
4.7
Net (loss) / profit
(17.6)
55.2
165.8
434.2
Headline earnings The net (loss) / profit has been adjusted by the following to arrive at headline earnings: Net (loss) / profit
(17.6)
55.2
165.8
434.2
Profit on sale of associate
-
-
-
(88.7)
Impairment of mining assets
92.9
-
92.9
-
Deferred taxation on impairment of mining assets
(25.7)
-
(25.7)
-
Amortisation of goodwill
5.1
4.6
19.4
55.1
Termination of retirement benefit plans
1.3
-
1.3
-
Headline earnings
56.0
59.8
253.7
400.6
Deferred taxation rate change
-
-
-
(75.4)
Headline earnings before deferred taxation rate change
56.0
59.8
253.7
325.2
Earnings per ordinary share - cents - Net (loss) / earnings
(16)
52
155
441
- Headline
52
56
237
407
- Headline before deferred taxation rate change
52
56
237
328
Dividends - $m
209.9
337.4
- cents per share
196
"The results have been prepared in accordance with International Accounting Standards."
328
GROUP BALANCE SHEET
December
September
December
December
September
December
1999
2000
2000
2000
2000
1999
US Dollar million
SA Rand million
ASSETS Non-current assets
2,901.4
2,607.0
2,661.3
Mining assets
20,159.2
18,861.6
17,857.1
221.7
274.8
403.4
Goodwill
3,055.7
1,988.2
1,364.6
12.9
19.3
19.5
Investments in associates
147.6
139.9
79.4
7.5
6.1
7.3
Other investments
55.3
44.1
45.9
44.5
39.7
47.3
AngloGold Environmental Rehabilitation Trust
358.2
287.5
273.7
55.9
48.9
49.8
Long-term loans - unsecured
377.6
353.8
343.9
3,243.9
2,995.8
3,188.6
24,153.6
21,675.1
19,964.6
Current assets
189.9
189.3
191.8
Inventories
1,453.0
1,369.9
1,169.0
222.9
224.3
229.3
Trade and other receivables
1,736.6
1,623.1
1,372.3
21.3
19.1
21.2
Current portion of loans advanced
160.7
137.9
131.0
492.5
159.5
194.9
Cash and cash equivalents
1,476.7
1,153.9
3,031.0
926.6
592.2
637.2
4,827.0
4,284.8
5,703.3
4,170.5
3,588.0
3,825.8
Total assets
28,980.6
25,959.9
25,667.9
EQUITY AND LIABILITIES Share capital and reserves
1,275.8
1,098.7
1,049.7
Share capital and premium
7,951.2
7,949.2
7,852.4
29.5
22.1
62.6
Non-distributable reserve
474.1
161.2
181.6
559.3
375.7
340.4
Retained earnings
2,578.5
2,718.1
3,442.7
1,864.6
1,496.5
1,452.7
Shareholders' equity
11,003.8
10,828.5
11,476.7
26.5
25.3
28.2
Minority interests
213.4
183.2
163.1
1,891.1
1,521.8
1,480.9
11,217.2
11,011.7
11,639.8
Non-current liabilities
679.3
600.2
710.3
Borrowings
5,380.8
4,342.8
4,180.7
18.7
16.7
15.8
Debentures
119.6
120.7
114.9
334.5
296.3
283.5
Provisions
2,147.7
2,143.6
2,058.7
710.9
601.3
552.8
Deferred taxation
4,187.3
4,350.2
4,375.5
1,743.4
1,514.5
1,562.4
11,835.4
10,957.3
10,729.8
Current liabilities
343.0
254.5
315.3
Trade and other payables
2,388.5
1,841.1
2,110.6
130.3
256.1
430.4
Current portion of borrowings
3,260.6
1,852.7
801.8
62.7
41.1
36.8
Taxation
278.9
297.1
385.9
536.0
551.7
782.5
5,928.0
3,990.9
3,298.3
4,170.5
3,588.0
3,825.8
Total equity and liabilities
28,980.6
"The results have been prepared in accordance with International Accounting Standards."
25,959.9
25,667.9
GROUP CASH FLOW STATEMENT
Year
Year
Quarter
Quarter
Year
Year
ended
ended
ended
ended
ended
ended
December
December
December
December
December
December
1999
2000
2000
2000
2000
1999
US Dollar million
SA Rand million
Cash flows from operating activities
587.4
557.3
188.8
Cash generated from operations
1,441.2
3,896.6
3,587.4
(52.5)
(68.9)
(20.3)
Finance costs
(154.2)
(480.5)
(321.3)
71.4
36.8
5.8
Interest receivable
43.8
249.5
436.6
4.4
3.6
1.5
Growth in AngloGold Environmental Rehabilitation Trust
11.4
25.2
26.3
5.4
1.7
-
Dividends received from associates
-
11.8
32.9
0.7
-
-
Dividends received from other investments
-
-
4.8
(272.3)
(300.1)
-
Dividends paid
-
(1,980.7)
(1,663.6)
(100.9)
(94.3)
(16.6)
Mining and normal taxation paid
(126.6)
(639.5)
(616.4)
243.6
136.1
159.2
Net cash inflow from operating activities
1,215.6
1,082.4
1,486.7
Cash flows from investing activities
(217.6)
(304.4)
(139.5)
Capital expenditure
(946.7)
(2,063.4)
(1,345.2)
2.4
7.9
1.3
Proceeds from sale of assets
8.7
54.5
15.0
(2.0)
(9.8)
(1.5)
Other investments acquired
(11.3)
(66.4)
(12.7)
(468.3)
(345.2)
(213.9)
Through acquisition of subsidiaries
(1,633.9)
(2,528.0)
(2,883.1)
220.5
4.7
3.1
Proceeds from sale of investments
23.4
31.7
1,347.0
(8.2)
(7.7)
(4.3)
Loans advanced
(33.1)
(52.2)
(50.0)
23.4
19.2
8.9
Repayment of loans advanced
67.9
130.5
142.9
(449.8)
(635.3)
(345.9)
Net cash outflow from investing activities
(2,525.0)
(4,493.3)
(2,786.1)
Cash flows from financing activities
3.5
1.7
0.2
Proceeds from issue of share capital
1.5
11.8
21.3
(6.9)
(2.6)
0.1
Share issue expenses
0.5
(17.6)
(42.3)
517.9
373.0
246.0
Proceeds from borrowings
1,877.3
2,530.1
3,164.0
(42.7)
(111.9)
(33.0)
Repayment of borrowings
(251.6)
(759.3)
(260.6)
471.8
260.2
213.3
Net cash inflow from financing activities
1,627.7
1,765.0
2,882.4
265.6
(239.0)
26.6
Net increase (decrease) increase in cash and cash equivalents
318.2
(1,645.9)
1,583.0
(26.7)
(58.6)
8.8
Translation adjustment
4.6
91.6
(43.8)
253.6
492.5
159.5
Opening cash and cash equivalents
1,153.9
3,031.0
1,491.8
492.5
194.9
194.9
Closing cash and cash equivalents
1,476.7
1,476.7
3,031.0
Note to the Cash Flow Statement
Cash generated from operations
476.1
251.1
(14.7)
(Loss) / profit before taxation
(110.2)
1,693.5
2,910.5
Adjusted for:
9.1
2.2
(1.9)
Non-cash movements
(14.7)
14.9
54.5
196.3
217.2
54.8
Amortisation of mining assets
416.8
1,508.5
1,199.3
52.5
68.9
20.3
Finance costs
154.2
480.5
321.3
3.0
0.4
0.1
Unwinding of decommissioning obligation
0.9
2.4
18.1
(71.4)
(36.8)
(5.8)
Interest receivable
(43.8)
(249.5)
(436.6)
(4.4)
(3.6)
(1.5)
Growth in AngloGold Environmental Rehabilitation Trust
(11.4)
(25.2)
(26.3)
(7.1)
(4.0)
(0.7)
Income from associates before taxation
(5.1)
(26.8)
(43.2)
(0.7)
-
-
Dividends received from other investments
-
-
(4.8)
(4.2)
(7.1)
(3.1)
Profit on sale of assets
(23.4)
(51.7)
(25.6)
(88.7)
-
-
Profit on sale of associate
-
-
(543.2)
-
92.9
92.9
Impairment of mining assets
708.5
708.5
-
55.1
19.4
5.1
Amortisation of goodwill
39.0
135.3
335.8
(28.2)
(43.3)
43.3
Movement in working capital
330.4
(293.8)
(172.4)
587.4
557.3
188.8
1,441.2
3,896.6
3,587.4
The following analyses the movement in working capital:
4.1
(35.5)
(5.2)
(Increase) decrease in inventories
(39.9)
(240.8)
25.2
(4.5)
(43.1)
(11.5)
Increase in trade and other receivables
(87.6)
(292.3)
(27.5)
(27.8)
35.3
60.0
Increase (decrease) in trade and other payables
457.9
239.3
(170.1)
(28.2)
(43.3)
43.3
330.4
"The results have been prepared in accordance with International Accounting Standards."
(293.8)
(172.4)
KEY OPERATING RESULTS
PER REGION
Quarter
Quarter
Year
Quarter
Quarter
Year
ended
ended
ended
ended
ended
ended
December
September
December
December
September
December
2000
2000
2000
2000
2000
2000
SA Rand / Metric
Yield - g/t
Gold produced - kg
SOUTH AFRICAN REGION VAAL RIVER
Great Noligwa Mine
13.06
12.71
12.32
7,829
8,280
30,204
Kopanang Mine
7.52
6.46
7.04
3,797
3,463
14,973
Tau Lekoa Mine
5.84
4.77
4.98
2,590
2,579
9,783
Surface Operations
0.80
0.52
0.60
903
559
2,827
ERGO
Ergo
0.24
0.24
0.24
2,448
2,435
9,969
FREE STATE
Bambanani Mine
7.76
7.03
7.15
3,184
3,506
13,717
Tshepong Mine
6.61
7.55
7.36
2,270
2,735
9,962
Matjhabeng Mine
6.91
7.00
7.19
2,440
2,809
11,444
Joel Mine
3.74
4.47
4.61
1,424
1,704
6,529
Surface Operations
0.91
0.88
0.92
649
588
2,591
WEST WITS
TauTona Mine
11.60
11.54
11.30
4,772
4,956
18,643
Savuka Mine
8.92
8.42
8.39
2,267
2,133
8,468
Mponeng Mine
7.00
7.74
8.05
2,521
3,043
12,489
Elandsrand Mine
6.10
5.84
6.37
2,593
2,545
11,008
Deelkraal Mine
8.38
6.57
7.17
1,288
1,412
5,434
Surface Operations
0.86
1.35
0.85
124
165
483
AFRICAN REGION
Navachab
1.96
1.91
1.82
671
637
2,399
Sadiola - Attributable 38%
3.14
3.78
3.56
1,684
1,963
7,227
Morila - Attributable 40%
8.81
-
8.81
1,762
-
1,762
NORTH AMERICAN REGION
Cripple Creek & Victor J.V.
0.72
0.81
0.75
2,004
2,035
7,702
Jerritt Canyon J.V. - Attributable 70%
15.58
11.94
13.93
2,480
1,631
7,724
SOUTH AMERICAN REGION Morro Velho
7.23
6.63
6.79
2,094
1,567
6,558
Serra Grande - Attributable 50%
7.87
8.45
8.15
724
776
2,999
Cerro Vanguardia - Attributable 46.25%
10.16
11.56
11.22
986
985
4,101
AUSTRALASIAN REGION
Sunrise Dam
4.39
4.31
3.87
2,037
1,999
7,011
Boddington - Attributable 33.33%
0.76
0.88
0.82
579
576
2,394
Tanami - Attributable 40%
2.44
2.95
2.59
369
441
1,493
Union Reefs
1.68
1.42
1.40
1,176
1,042
3,939
Brocks Creek
1.21
1.02
1.26
243
359
1,463
KEY OPERATING RESULTS
PER REGION
Quarter
Quarter
Year
Quarter
Quarter
Year
ended
ended
ended
ended
ended
ended
December
September
December
December
September
December
2000
2000
2000
2000
2000
2000
SA Rand / Metric
Total cash costs - R/kg
Total production costs - R/kg
SOUTH AFRICAN REGION VAAL RIVER
Great Noligwa Mine
31,002
30,157
31,966
32,446
32,210
33,893
Kopanang Mine
47,796
53,339
48,027
51,219
57,180
51,480
Tau Lekoa Mine
47,836
47,375
48,166
55,094
53,306
54,555
Surface Operations
34,392
42,906
38,523
34,392
42,906
38,523
ERGO
Ergo
57,650
56,382
53,818
65,576
64,842
62,114
FREE STATE
Bambanani Mine
66,919
62,546
60,558
70,687
65,968
64,553
Tshepong Mine
63,003
51,074
52,607
70,449
58,423
60,306
Matjhabeng Mine
73,332
66,710
63,754
88,212
73,010
70,701
Joel Mine
78,912
59,431
64,085
86,214
68,055
72,172
Surface Operations
42,955
42,180
49,635
43,996
42,706
50,705
WEST WITS
TauTona Mine
37,553
38,314
38,288
40,508
41,079
40,991
Savuka Mine
53,146
55,736
54,927
56,674
59,299
58,375
Mponeng Mine
66,470
56,191
53,000
73,370
63,058
59,517
Elandsrand Mine
68,792
70,496
62,597
75,232
76,823
68,847
Deelkraal Mine
66,006
63,252
65,200
78,974
77,701
75,763
Surface Operations
69,261
43,509
54,605
70,704
43,509
55,196
AFRICAN REGION
Navachab
39,847
40,122
42,249
44,720
45,011
47,472
Sadiola - Attributable 38%
29,533
24,232
25,393
43,975
35,672
37,632
Morila - Attributable 40%
21,627
-
21,627
37,892
-
37,892
NORTH AMERICAN REGION
Cripple Creek & Victor J.V.
45,365
40,969
42,454
69,896
61,421
63,900
Jerritt Canyon J.V. - Attributable 70%
59,301
50,473
48,730
78,805
74,246
68,645
SOUTH AMERICAN REGION Morro Velho
33,393
30,763
30,169
43,955
42,946
41,231
Serra Grande - Attributable 50%
30,281
24,244
25,043
45,783
35,947
38,287
Cerro Vanguardia - Attributable 46.25%
41,593
33,937
32,742
64,179
48,621
51,365
AUSTRALASIAN REGION
Sunrise Dam
37,244
33,686
38,466
49,694
46,091
51,192
Boddington - Attributable 33.33%
50,884
47,349
48,122
54,600
50,335
51,449
Tanami - Attributable 40%
65,126
66,966
63,931
75,246
75,076
70,261
Union Reefs
55,896
69,953
61,363
63,728
78,199
69,344
Brocks Creek
40,788
37,290
43,799
47,600
37,302
51,504
KEY OPERATING RESULTS
PER REGION
Quarter
Quarter
Year
Quarter
Quarter
Year
ended
ended
ended
ended
ended
ended
December
September
December
December
September
December
2000
2000
2000
2000
2000
2000
SA Rand / Metric
Productivity per employee - g
Operating profit - Rm
SOUTH AFRICAN REGION VAAL RIVER
Great Noligwa Mine
278
295
267
264.9
263.7
941.0
Kopanang Mine
162
149
160
59.8
24.1
204.3
Tau Lekoa Mine
201
207
194
36.3
28.5
109.8
Surface Operations
567
384
441
32.3
13.0
78.3
ERGO
Ergo
-
-
-
6.1
0.9
27.0
FREE STATE
Bambanani Mine
141
154
149
(7.3)
(9.5)
3.2
Tshepong Mine
164
195
176
(3.7)
12.2
43.7
Matjhabeng Mine
123
124
122
(21.9)
(17.0)
(24.4)
Joel Mine
113
126
122
(14.3)
34.6
34.0
Surface Operations
254
228
249
23.3
22.1
83.1
WEST WITS
TauTona Mine
259
270
250
124.2
120.2
446.7
Savuka Mine
183
173
169
28.7
13.2
64.2
Mponeng Mine
155
184
190
(21.6)
7.0
58.4
Elandsrand Mine
146
142
153
(19.9)
(29.2)
(40.7)
Deelkraal Mine
123
130
126
(5.6)
(17.6)
(48.1)
Surface Operations
-
-
-
3.5
6.6
12.7
AFRICAN REGION
Navachab
657
609
570
15.5
13.1
44.0
Sadiola - Attributable 38%
1,782
2,062
1,930
51.8
63.5
218.8
Morila - Attributable 40%
4,736
-
4,736
49.4
-
49.4
NORTH AMERICAN REGION
Cripple Creek & Victor J.V.
1,914
1,922
1,886
35.4
31.8
105.4
Jerritt Canyon J.V. - Attributable 70%
1,707
1,673
1,674
11.9
2.7
46.0
SOUTH AMERICAN REGION Morro Velho
496
415
426
65.0
53.9
201.4
Serra Grande - Attributable 50%
931
990
968
28.4
28.5
105.2
Cerro Vanguardia - Attributable 46.25%
2,054
1,951
2,100
19.5
21.5
91.6
AUSTRALASIAN REGION
Sunrise Dam
2,209
2,876
2,292
51.6
61.5
187.8
Boddington - Attributable 33.33%
1,644
1,605
1,706
10.7
12.3
42.1
Tanami - Attributable 40%
1,238
1,480
1,279
(0.2)
0.9
5.7
Union Reefs
1,744
1,366
1,391
13.2
7.2
25.9
Brocks Creek
2,210
2,563
2,103
2.7
4.8
22.4
Regional corporate costs and
other non-mining subsidiaries
49.3
39.4
133.5
ANGLOGOLD GROUP TOTAL
888.9
813.9
3 272.3
KEY OPERATING RESULTS
PER REGION
Quarter
Quarter
Year
Quarter
Quarter
Year
ended
ended
ended
ended
ended
ended
December
September
December
December
September
December
2000
2000
2000
2000
2000
2000
US Dollar / Imperial
Yield - oz/t
Gold produced - oz 000
SOUTH AFRICAN REGION VAAL RIVER
Great Noligwa Mine
0.381
0.371
0.359
252
266
971
Kopanang Mine
0.219
0.188
0.205
122
111
481
Tau Lekoa Mine
0.170
0.139
0.145
83
83
315
Surface Operations
0.023
0.015
0.017
29
18
90
ERGO
Ergo
0.007
0.007
0.007
79
78
321
FREE STATE
Bambanani Mine
0.226
0.205
0.208
102
113
441
Tshepong Mine
0.193
0.220
0.215
73
88
320
Matjhabeng Mine
0.202
0.204
0.210
78
90
368
Surface Operations
0.026
0.026
0.027
21
19
83
Joel Mine
0.109
0.130
0.135
46
55
210
WEST WITS
TauTona Mine
0.338
0.337
0.330
153
159
599
Savuka Mine
0.260
0.246
0.245
73
69
272
Mponeng Mine
0.204
0.226
0.235
81
98
402
Elandsrand Mine
0.178
0.170
0.186
83
82
355
Deelkraal Mine
0.244
0.192
0.209
41
45
175
Surface Operations
0.025
0.039
0.025
4
5
16
AFRICAN REGION
Navachab
0.057
0.056
0.053
22
20
77
Sadiola - Attributable 38%
0.092
0.110
0.104
54
63
232
Morila - Attributable 40%
0.257
-
0.257
57
-
57
NORTH AMERICAN REGION
Cripple Creek & Victor J.V.
0.021
0.024
0.022
64
65
248
Jerritt Canyon J.V. - Attributable 70%
0.454
0.348
0.406
80
52
248
SOUTH AMERICAN REGION Morro Velho
0.211
0.193
0.198
67
50
211
Serra Grande - Attributable 50%
0.230
0.247
0.238
23
25
96
Cerro Vanguardia - Attributable 46.25%
0.296
0.337
0.327
32
32
132
AUSTRALASIAN REGION
Sunrise Dam
0.128
0.126
0.113
65
64
225
Boddington - Attributable 33.33%
0.022
0.026
0.024
19
19
77
Tanami - Attributable 40%
0.071
0.086
0.076
12
14
48
Union Reefs
0.049
0.041
0.041
38
34
127
Brocks Creek
0.035
0.030
0.037
8
12
47
KEY OPERATING RESULTS
PER REGION
Quarter
Quarter
Year
Quarter
Quarter
Year
ended
ended
ended
ended
ended
ended
December
September
December
December
September
December
2000
2000
2000
2000
2000
2000
US Dollar / Imperial
Total cash costs - $/oz
Total production costs - $/oz
SOUTH AFRICAN REGION VAAL RIVER
Great Noligwa Mine
127
134
144
133
143
152
Kopanang Mine
195
237
215
209
254
231
Tau Lekoa Mine
196
211
216
225
238
244
Surface Operations
140
191
172
140
191
172
ERGO
Ergo
236
250
242
268
287
279
FREE STATE
Bambanani Mine
273
279
272
289
294
290
Tshepong Mine
258
227
236
288
259
270
Matjhabeng Mine
301
297
287
362
324
317
Joel Mine
323
265
288
352
303
324
Surface Operations
178
188
227
178
190
231
WEST WITS
TauTona Mine
154
171
172
166
183
184
Savuka Mine
218
248
247
233
262
262
Mponeng Mine
271
249
238
300
280
267
Elandsrand Mine
282
313
281
308
341
309
Deelkraal Mine
271
282
294
324
346
341
Surface Operations
269
193
248
269
193
248
AFRICAN REGION
Navachab
163
178
189
183
200
213
Sadiola - Attributable 38%
121
108
114
180
159
169
Morila - Attributable 40%
88
-
88
154
-
154
NORTH AMERICAN REGION
Cripple Creek & Victor J.V.
186
182
190
286
273
292
Jerritt Canyon J.V. - Attributable 70%
243
224
215
322
330
303
SOUTH AMERICAN REGION Morro Velho
136
137
134
180
191
183
Serra Grande - Attributable 50%
124
108
112
187
160
171
Cerro Vanguardia - Attributable 46.25%
170
151
146
262
216
229
AUSTRALASIAN REGION
Sunrise Dam
152
149
172
203
205
229
Boddington - Attributable 33.33%
208
211
216
223
224
232
Tanami - Attributable 40%
267
298
286
308
334
314
Union Reefs
229
310
274
261
347
310
Brocks Creek
167
166
201
195
166
238
KEY OPERATING RESULTS
PER REGION
Quarter
Quarter
Year
Quarter
Quarter
Year
ended
ended
ended
ended
ended
ended
December
September
December
December
September
December
2000
2000
2000
2000
2000
2000
US Dollar / Imperial
Productivity per employee - oz
Operating profit - $m
SOUTH AFRICAN REGION VAAL RIVER
Great Noligwa Mine
8.95
9.47
8.58
34.9
37.6
134.5
Kopanang Mine
5.22
4.80
5.15
7.9
3.3
29.5
Tau Lekoa Mine
6.48
6.65
6.23
4.8
4.0
15.5
Surface Operations
18.23
12.34
14.18
4.3
1.8
11.1
ERGO
Ergo
-
-
-
0.8
0.1
3.9
FREE STATE
Bambanani Mine
4.54
4.96
4.80
(1.0)
(1.5)
0.5
Tshepong Mine
5.27
6.26
5.65
(0.5)
1.8
6.4
Matjhabeng Mine
3.95
4.00
3.92
(3.0)
(2.4)
(3.1)
Joel Mine
3.64
4.05
3.92
(1.8)
4.9
5.2
Surface Operations
8.18
7.32
8.00
3.1
3.2
11.9
WEST WITS
TauTona Mine
8.34
8.67
8.05
16.2
17.1
63.7
Savuka Mine
5.90
5.56
5.43
3.7
1.9
8.9
Mponeng Mine
4.99
5.92
6.10
(2.8)
1.0
9.7
Elandsrand Mine
4.70
4.58
4.92
(2.7)
(4.2)
(5.6)
Deelkraal Mine
3.95
4.18
4.05
(0.7)
(2.5)
(7.0)
Surface Operations
-
-
-
0.5
0.8
1.8
AFRICAN REGION
Navachab
21.14
19.57
18.32
2.0
1.9
6.3
Sadiola - Attributable 38%
57.31
66.31
62.06
6.9
9.1
31.4
Morila - Attributable 40%
152.27
-
152.27
6.5
-
6.5
NORTH AMERICAN REGION
Cripple Creek & Victor J.V.
61.54
61.78
60.63
4.5
4.4
12.8
Jerritt Canyon J.V. - Attributable 70%
54.90
53.78
58.21
1.4
0.2
6.5
SOUTH AMERICAN REGION Morro Velho
15.94
13.35
13.69
8.7
7.8
29.1
Serra Grande - Attributable 50%
29.94
31.83
31.12
3.8
4.1
15.0
Cerro Vanguardia - Attributable 46.25%
66.04
62.74
67.50
2.6
3.0
14.2
AUSTRALASIAN REGION
Sunrise Dam
71.02
92.45
73.69
6.9
8.7
26.9
Boddington - Attributable 33.33%
52.86
51.59
54.86
1.4
1.7
6.1
Tanami - Attributable 40%
39.79
47.57
41.13
(0.1)
0.1
0.7
Union Reefs
56.08
43.91
44.71
1.8
1.0
3.5
Brocks Creek
71.05
82.40
67.60
0.3
0.7
3.3
Regional corporate costs and
other non-mining subsidiaries
6.0
5.5
19.3
ANGLOGOLD GROUP TOTAL
116.4
115.1
468.5
DEVELOPMENT
Development values represent actual results of sampling, no allowances having been made for adjustments necessary in estimating ore reserves.
Quarter ended December 2000
Statistics are shown in metric units
Advance
Sampled
metres metres channel
gold
uranium
width g/t
cm.g/t
kg/t
cm.kg/t
cm
VAAL RIVER Great Noligwa Mine
Vaal reef
4,928
512
129.80
34.01
4,414
1.38
178.86
"C" reef
-
-
-
-
-
-
-
Kopanang Mine
Vaal reef
8,932
1,384
14.80
109.59
1,622
4.77
70.58
"C" reef
112
-
-
-
-
-
-
Tau Lekoa Mine
Ventersdorp Contact reef
4,397
1,012
102.00
11.45
1,168
0.17
16.97
Moab Khotsong Mine
Vaal reef
1,967
-
-
-
-
-
-
FREE STATE Bambanani East Shaft
Basal reef
3,121
344
96.20
18.40
1,770
-
0.03
Bambanani West Shaft
Basal reef
170
-
-
-
-
-
-
Tshepong North
Basal reef
5,753
925
19.30
95.96
1,852
2.11
40.78
"B" reef
72
-
-
-
-
-
-
Tshepong South
Basal reef
-
-
-
-
-
-
-
Matjhabeng Mine
Basal reef
613
-
-
-
-
-
-
Taung South Shaft
Beatrix reef
1,501
411
88.00
6.56
577
-
-
Beatrix VS 5 Composite reef
265
15
237.20
3.00
712
-
-
VS 5 Composite reef
132
51
61.70
10.31
636
-
-
Taung North Shaft
Beatrix reef
-
-
-
-
-
-
-
Beatrix VS 5 Composite reef
219
-
-
-
-
-
-
WEST WITS TauTona Mine
Ventersdorp Contact reef
141
-
-
-
-
-
-
Carbon Leader reef
3,802
-
-
-
-
-
-
Savuka Mine
Ventersdorp Contact reef
558
50
66.30
22.11
1,466
0.02
1.17
Carbon Leader reef
438
-
-
-
-
-
-
Mponeng Mine
Ventersdorp Contact reef
6,610
1,074
69.90
22.73
1,589
-
-
Elandsrand
Ventersdorp Contact reef
5,328
710
34.90
16.33
570
-
-
Deelkraal
Ventersdorp Contact reef
257
116
159.70
8.53
1,363
-
-
(plus footwall bands)
DEVELOPMENT
Development values represent actual results of sampling, no allowances having been made for adjustments necessary in estimating ore reserves.
Quarter ended December 2000
Statistics are shown in imperial units
Advance
Sampled
feet feet
channel
gold
uranium
width oz/t
ft.oz/t lb/t
ft.lb/t
inches
VAAL RIVER Great Noligwa Mine
Vaal reef
16,168
1,680
51.10
0.99
4.22
2.76
11.75
"C" reef
-
-
-
-
-
-
-
Kopanang Mine
Vaal reef
29,303
4,541
5.83
3.20
1.55
9.54
4.63
"C" reef
366
-
-
-
-
-
-
Tau Lekoa Mine
Ventersdorp Contact reef
14,425
3,320
40.16
0.33
1.12
0.34
1.14
Moab Khotsong Mine
Vaal reef
6,454
-
-
-
-
-
-
FREE STATE Bambanani East Shaft
Basal reef
10,240
1,129
37.87
0.54
1.69
-
-
Bambanani West Shaft
Basal reef
556
-
-
-
-
-
-
Tshepong North
Basal reef
18,874
3,035
7.60
2.80
1.77
4.22
2.67
"B" reef
235
-
-
-
-
-
-
Tshepong South
Basal reef
-
-
-
-
-
-
-
Matjhabeng Mine
Basal reef
2,012
-
-
-
-
-
-
Taung South Shaft
Beatrix reef
4,925
1,348
34.65
0.19
0.55
-
-
Beatrix VS 5 Composite reef
868
49
93.39
0.09
0.68
-
-
VS 5 Composite reef
434
167
24.29
0.30
0.61
-
-
Taung North Shaft
Beatrix reef
-
-
-
-
-
-
-
Beatrix VS 5 Composite reef
719
-
-
-
-
-
-
WEST WITS TauTona Mine
Ventersdorp Contact reef
462
-
-
-
-
-
-
Carbon Leader reef
12,473
-
-
-
-
-
-
Savuka Mine
Ventersdorp Contact reef
1,830
164
26.10
0.64
1.40
0.04
0.09
Carbon Leader reef
1,437
-
-
-
-
-
-
Mponeng Mine
Ventersdorp Contact reef
21,687
3,524
27.52
0.66
1.52
-
-
Elandsrand
Ventersdorp Contact reef
17,481
2,329
13.74
0.48
0.55
-
-
Deelkraal
Ventersdorp Contact reef
842
381
62.87
0.25
1.30
-
-
(plus footwall bands)
SHAFT SINKING
Quarter
Quarter
Year
ended
ended
ended
December
September
December
2000
2000
2000
Statistics are shown in metric units
metres
MOAB KHOTSONG MINE Main shaft
Advance
80
49
129
Depth to date (below collar)
2,540
2,460
2,540
Rock / ventilation sub-vertical shaft
Advance
-
-
-
Depth to date
939
939
939
Station cutting
-
-
-
JOEL MINE Taung North Shaft Advance
4
77
159
Depth to date (below collar)
1,453
1,449
1,453
MPONENG MINE Sub Shaft 1 Advance
-
-
-
Depth to date
1,209
1,209
1,209
Station cutting
1,209
1,209
1,209
Sub Shaft Vent Shaft Deepening Advance
4
-
4
Depth to date
4
-
4
SHAFT SINKING
Quarter
Quarter
Year
ended
ended
ended
December
September
December
2000
2000
2000
Statistics are shown in imperial units
feet
MOAB KHOTSONG MINE Main shaft
Advance
263
159
423
Depth to date (below collar)
8,333
8,070
8,333
Rock / ventilation sub-vertical shaft
Advance
-
-
-
Depth to date
3,080
3,080
3,080
Station cutting
-
-
-
JOEL MINE Taung North Shaft Advance
11
251
523
Depth to date (bellow collar)
4,766
4,755
4,766
Station cutting
-
-
-
MPONENG MINE Sub Shaft 1 Advance
-
-
-
Depth to date
3,965
3,965
3,965
Station cutting
-
-
-
Sub Shaft Vent Shaft Deepening Advance
13
-
13
Depth to date
13
-
13
SOUTH AFRICAN REGION
VAAL RIVER
Quarter
Quarter
Year
Quarter
Quarter
Year
ended
ended
ended
ended
ended
ended
December
September
December
December
September
December
2000
2000
2000
2000
2000
2000
GREAT NOLIGWA MINE
Rand / Metric
Dollar / Imperial
OPERATING RESULTS GOLD
Area mined
- m2
/
- ft2
- 000
109
114
430
1,174
1,229
4,628
Milled - 000
- tonnes /
- tons
- reef
600
651
2,451
661
718
2,702
- waste
-
-
-
-
-
-
- surface and dump reclamation
-
-
-
-
-
-
- total
600
651
2,451
661
718
2,702
Yield
- g/t
/
- oz/t
- reef
13.06
12.71
12.32
0.381
0.371
0.359
- waste
-
-
-
-
-
-
- surface and dump reclamation
-
-
-
-
-
-
- average
13.06
12.71
12.32
0.381
0.371
0.359
Gold produced
- kg
/
- oz 000 - reef
7,829
8,280
30,204
252
266
971
- waste
-
-
-
-
-
-
- surface and dump reclamation
-
-
-
-
-
-
- total
7,829
8,280
30,204
252
266
971
Revenue
- R/kg
/
- $/oz
- sold
67,071
64,819
64,645
274
288
289
Total cash costs
- R
/
- $
- ton milled
405
383
394
48
50
52
- R/kg
/
- $/oz
- produced
31,002
30,157
31,966
127
134
144
PRODUCTIVITY
per employee
- g
/
- oz
- target
267
270
273
8.58
8.98
8.77
- actual
278
295
267
8.95
9.47
8.58
per employee
- m2
/
- ft2
- target
4.28
4.17
4.09
46.07
46.37
44.02
- actual
3.88
4.06
3.80
41.73
43.71
40.87
FINANCIAL RESULTS ( MILLION)
Gold sales
518.4
536.7
1,946.1
68.2
76.7
279.7
Cost of sales
253.5
273.0
1,005.1
33.3
39.1
145.2
Cash operating costs
241.2
248.3
960.1
31.7
35.5
138.7
Other cash costs
1.5
1.4
5.4
0.2
0.2
0.8
Total cash costs
242.7
249.7
965.5
31.9
35.7
139.5
Retrenchment costs
0.6
0.5
2.7
0.1
0.1
0.4
Rehabilitation and other non-cash costs
-
-
-
-
-
-
Production costs
243.3
250.2
968.2
32.0
35.8
139.9
Amortisation of mining assets
10.7
16.5
55.5
1.4
2.4
8.1
Inventory change
(0.5)
6.3
(18.6)
(0.1)
0.9
(2.8)
Operating profit
264.9
263.7
941.0
34.9
37.6
134.5
Capital expenditure
- mining direct
9.9
(0.5)
16.4
1.3
(0.1)
2.2
- other
3.3
1.9
5.8
0.4
0.3
0.8
- recoupments
-
0.1
0.1
-
-
-
Net capital expenditure
13.2
1.5
22.3
1.7
0.2
3.0
SOUTH AFRICAN REGION
VAAL RIVER
Quarter
Quarter
Year
Quarter
Quarter
Year
ended
ended
ended
ended
ended
ended
December
September
December
December
September
December
2000
2000
2000
2000
2000
2000
KOPANANG MINE
Rand / Metric
Dollar / Imperial
OPERATING RESULTS GOLD
Area mined
- m2
/
- ft2
- 000
112
114
446
1,204
1,228
4,804
Milled - 000
- tonnes /
- tons
- reef
505
536
2,127
557
591
2,345
- waste
-
-
-
-
-
-
- surface and dump reclamation
-
-
-
-
-
-
- total
505
536
2,127
557
591
2,345
Yield
- g/t
/
- oz/t
- reef
7.52
6.46
7.04
0.219
0.188
0.205
- waste
-
-
-
-
-
-
- surface and dump reclamation
-
-
-
-
-
-
- average
7.52
6.46
7.04
0.219
0.188
0.205
Gold produced
- kg
/
- oz 000 - reef
3,797
3,463
14,973
122
111
481
- waste
-
-
-
-
-
-
- surface and dump reclamation
-
-
-
-
-
-
- total
3,797
3,463
14,973
122
111
481
Revenue
- R/kg
/
- $/oz
- sold
67,259
64,890
64,582
275
287
290
Total cash costs
- R
/
- $
- ton milled
359
344
338
43
45
44
- R/kg
/
- $/oz
- produced
47,796
53,339
48,027
195
237
215
PRODUCTIVITY
per employee
- g
/
- oz
- target
175
178
169
5.64
5.73
5.44
- actual
162
149
160
5.22
4.80
5.15
per employee
- m2
/
- ft2
- target
4.90
4.90
4.72
52.75
52.75
50.83
- actual
4.78
4.92
4.78
51.5
52.91
51.41
FINANCIAL RESULTS ( MILLION)
Gold sales
251.9
224.7
963.6
33.1
32.0
139.2
Cost of sales
192.1
200.6
759.3
25.2
28.7
109.7
Cash operating costs
180.5
183.7
715.2
23.7
26.3
103.3
Other cash costs
1.0
1.0
3.9
0.1
0.1
0.4
Total cash costs
181.5
184.7
719.1
23.8
26.4
103.7
Retrenchment costs
0.3
0.3
2.0
-
-
0.3
Rehabilitation and other non-cash costs
-
-
-
-
-
-
Production costs
181.8
185.0
721.1
23.8
26.4
104.0
Amortisation of mining assets
12.7
13.0
49.7
1.7
1.9
7.3
Inventory change
(2.4)
2.6
(11.5)
(0.3)
0.4
(1.6)
Operating profit
59.8
24.1
204.3
7.9
3.3
29.5
Capital expenditure
- mining direct
14.0
6.0
30.6
1.9
0.9
4.4
- other
4.4
1.3
5.7
0.6
0.2
0.8
- recoupments
-
-
-
-
-
-
Net capital expenditure
18.4
7.3
36.3
2.5
1.1
5.2
SOUTH AFRICAN REGION
VAAL RIVER
Quarter
Quarter
Year
Quarter
Quarter
Year
ended
ended
ended
ended
ended
ended
December
September
December
December
September
December
2000
2000
2000
2000
2000
2000
TAU LEKOA MINE
Rand / Metric
Dollar / Imperial
OPERATING RESULTS GOLD
Area mined
- m2
/
- ft2
- 000
102
108
388
1,093
1,166
4,179
Milled - 000
- tonnes /
- tons
- reef
444
541
1,963
489
597
2,163
- waste
-
-
-
-
-
-
- surface and dump reclamation
-
-
-
-
-
-
- total
444
541
1,963
489
597
2,163
Yield
- g/t
/
- oz/t
- reef
5.84
4.77
4.98
0.170
0.139
0.145
- waste
-
-
-
-
-
-
- surface and dump reclamation
-
-
-
-
-
-
- average
5.84
4.77
4.98
0.170
0.139
0.145
Gold produced
- kg
/
- oz 000 - reef
2,590
2,579
9,783
83
83
315
- waste
-
-
-
-
-
-
- surface and dump reclamation
-
-
-
-
-
-
- total
2,590
2,579
9,783
83
83
315
Revenue
- R/kg
/
- $/oz
- sold
67,352
65,131
64,762
275
289
289
Total cash costs
- R
/
- $
- ton milled
279
226
240
33
29
31
- R/kg
/
- $/oz
- produced
47,836
47,375
48,166
196
211
216
PRODUCTIVITY
per employee
- g
/
- oz
- target
188
191
184
6.05
6.14
5.91
- actual
201
207
194
6.48
6.65
6.23
per employee
- m2
/
- ft2
- target
7.59
7.53
7.28
81.74
81.01
78.35
- actual
7.90
8.68
7.70
85.
93.46
82.84
FINANCIAL RESULTS ( MILLION)
Gold sales
172.1
168.0
631.3
22.6
24.0
90.7
Cost of sales
135.8
139.5
521.5
17.8
20.0
75.2
Cash operating costs
123.2
121.5
468.3
16.2
17.4
67.5
Other cash costs
0.7
0.7
2.9
0.1
0.1
0.4
Total cash costs
123.9
122.2
471.2
16.3
17.5
67.9
Retrenchment costs
0.9
0.6
2.2
0.1
0.1
0.3
Rehabilitation and other non-cash costs
-
-
-
-
-
-
Production costs
124.8
122.8
473.4
16.4
17.6
68.2
Amortisation of mining assets
17.9
14.7
60.3
2.3
2.1
8.7
Inventory change
(6.9)
2.0
(12.2)
(0.9)
0.3
(1.7)
Operating profit
36.3
28.5
109.8
4.8
4.0
15.5
Capital expenditure
- mining direct
10.8
3.3
19.8
1.4
0.5
2.7
- other
1.3
0.9
2.2
0.2
0.1
0.3
- recoupments
-
-
-
-
-
-
Net capital expenditure
12.1
4.2
22.0
1.6
0.6
3.0
SOUTH AFRICAN REGION
VAAL RIVER
Quarter
Quarter
Year
Quarter
Quarter
Year
ended
ended
ended
ended
ended
ended
December
September
December
December
September
December
2000
2000
2000
2000
2000
2000
SURFACE OPERATIONS
Rand / Metric
Dollar / Imperial
OPERATING RESULTS GOLD
Area mined
- m2
/ - ft2
- 000
-
-
-
-
-
-
Milled - 000
- tonnes / - tons
- reclamation from rehabilitation
34
5
44
37
6
49
- waste
-
-
-
-
-
-
- surface and dump reclamation
1,097
1,071
4,679
1,210
1,181
5,158
- total
1,131
1,076
4,723
1,247
1,187
5,207
Yield
- g/t
/ - oz/t
- reclamation from rehabilitation
2.96
3.52
3.12
0.086
0.103
0.091
- waste
-
-
-
-
-
-
- surface and dump reclamation
0.73
0.50
0.57
0.021
0.015
0.017
- average
0.80
0.52
0.60
0.023
0.015
0.017
Gold produced
- kg
/ - oz 000 - reclamation from rehabilitation
100
19
138
3
1
4
- waste
-
-
-
-
-
-
- surface and dump reclamation
803
540
2,689
26
17
86
- total
903
559
2,827
29
18
90
Revenue
- R/kg
/ - $/oz
- sold
67,348
64,774
64,558
275
284
288
Total cash costs *
- R
/ - $
- ton milled
25
22
22
3
3
3
- R/kg
/ - $/oz
- produced
34,392
42,906
38,523
140
191
172
PRODUCTIVITY
per employee
- g
/ - oz
- target
413
425
416
13.27
13.65
13.36
- actual
567
384
441
18.23
12.34
14.18
per employee
- m2
/ - ft2
- target
-
-
-
-
-
-
- actual
-
-
-
-
-
-
FINANCIAL RESULTS ( MILLION)
Gold sales
59.9
36.2
181.9
7.9
5.1
26.0
Cost of sales
27.6
23.2
103.6
3.6
3.3
14.9
Cash operating costs
27.5
23.1
103.3
3.6
3.3
14.9
Other cash costs
0.1
0.1
0.3
-
-
-
Total cash costs
27.6
23.2
103.6
3.6
3.3
14.9
Retrenchment costs
-
-
-
-
-
-
Rehabilitation and other non-cash costs
-
-
-
-
-
-
Production costs
27.6
23.2
103.6
3.6
3.3
14.9
Amortisation of mining assets
-
-
-
-
-
-
Inventory change
-
-
-
-
-
-
Operating profit
32.3
13.0
78.3
4.3
1.8
11.1
Capital expenditure
Moab Khotsong
- mining direct
96.7
84.1
317.7
12.7
12.0
45.5
- other
-
-
-
-
-
-
- recoupments
-
-
-
-
-
-
Net capital expenditure
96.7
84.1
317.7
12.7
12.0
45.5
* Excludes reclamation from rehabilitation
SOUTH AFRICAN REGION
ERGO
Quarter
Quarter
Year
Quarter
Quarter
Year
ended
ended
ended
ended
ended
ended
December
September
December
December
September
December
2000
2000
2000
2000
2000
2000
Rand / Metric
Dollar / Imperial
OPERATING RESULTS GOLD
Material treated
- tonnes / - tons
- 000
10,351
10,247
42,187
11,410
11,295
46,503
Yield
- g/t
/ - oz/t
0.24
0.24
0.24
0.007
0.007
0.007
Gold produced
- kg
/ - oz 000
2,448
2,435
9,969
79
78
321
Revenue
- R/kg
/ - $/oz
- sold
67,130
64,965
64,425
274
287
289
Total cash costs
- R
/ - $
- ton treated
14
13
13
2
2
2
- R/kg
/ - $/oz
- produced
57,650
56,382
53,818
236
250
242
FINANCIAL RESULTS (MILLION)
Gold sales
162.8
158.2
640.8
21.4
22.5
92.5
Cost of sales
156.7
157.3
613.8
20.6
22.4
88.6
Cash operating costs
140.4
136.7
534.0
18.5
19.5
77.1
Other cash costs
0.7
0.6
2.5
0.1
0.1
0.4
Total cash costs
141.1
137.3
536.5
18.6
19.6
77.5
Retrenchment costs
-
0.2
0.4
-
-
-
Rehabilitation and other non-cash costs
0.9
1.6
6.1
0.1
0.2
0.9
Production costs
142.0
139.1
543.0
18.7
19.8
78.4
Amortisation of mining assets
18.5
18.8
76.2
2.4
2.7
11.0
Inventory change
(3.8)
(0.6)
(5.4)
(0.5)
(0.1)
(0.8)
Operating profit
6.1
0.9
27.0
0.8
0.1
3.9
Capital expenditure
(1.5)
-
(1.5)
(0.2)
-
(0.2)
SOUTH AFRICAN REGION
FREE STATE
Quarter
Quarter
Year
Quarter
Quarter
Year
ended
ended
ended
ended
ended
ended
December
September
December
December
September
December
2000
2000
2000
2000
2000
2000
BAMBANANI MINE
Rand / Metric
Dollar / Imperial
OPERATING RESULTS GOLD
Area mined
- m2
/
- ft2
- 000
86
83
345
923
895
3,708
Milled - 000
- tonnes /
- tons
- reef
410
498
1,919
452
549
2,116
- waste
-
-
-
-
-
-
- surface and dump reclamation
-
-
-
-
-
-
- total
410
498
1,919
452
549
2,116
Yield
- g/t
/
- oz/t
- reef
7.76
7.03
7.15
0.226
0.205
0.208
- waste
-
-
-
-
-
-
- surface and dump reclamation
-
-
-
-
-
-
- average
7.76
7.03
7.15
0.226
0.205
0.208
Gold produced
- kg
/
- oz 000 - reef
3,184
3,506
13,717
102
113
441
- waste
-
-
-
-
-
-
- surface and dump reclamation
-
-
-
-
-
-
- total
3,184
3,506
13,717
102
113
441
Revenue
- R/kg
/
- $/oz
- sold
67,835
65,284
65,172
278
289
293
Total cash costs
- R
/
- $
- ton milled
520
440
433
62
57
57
- R/kg
/
- $/oz
- produced
66,919
62,546
60,558
273
279
272
PRODUCTIVITY
per employee
- g
/
- oz
- target
183
181
179
5.88
5.81
5.75
- actual
141
154
149
4.54
4.96
4.80
per employee
- m2
/
- ft2
- target
3.91
3.78
3.74
42.11
40.67
40.25
- actual
3.80
3.66
3.75
40.90
39.37
40.34
FINANCIAL RESULTS (MILLION)
Gold sales
215.1
228.9
893.1
28.3
32.6
129.1
Cost of sales
222.4
238.4
889.9
29.3
34.1
128.6
Cash operating costs
212.0
218.2
836.1
27.9
31.2
120.7
Other cash costs
1.1
1.1
(5.4)
0.1
0.2
(0.8)
Total cash costs
213.1
219.3
830.7
28.0
31.4
119.9
Retrenchment costs
2.2
1.6
9.9
0.3
0.2
1.4
Rehabilitation and other non-cash costs
-
-
(0.3)
-
-
-
Production costs
215.3
220.9
840.3
28.3
31.6
121.3
Amortisation of mining assets
9.8
10.4
45.2
1.3
1.5
6.6
Inventory change
(2.7)
7.1
4.4
(0.3)
1.0
0.7
Operating profit
(7.3)
(9.5)
3.2
(1.0)
(1.5)
0.5
Capital expenditure
- mining direct
13.5
1.1
18.1
1.8
0.2
2.6
- other
-
-
-
-
-
-
- recoupments
-
-
-
-
-
-
Net capital expenditure
13.5
1.1
18.1
1.8
0.2
2.6
SOUTH AFRICAN REGION
FREE STATE
Quarter
Quarter
Year
Quarter
Quarter
Year
ended
ended
ended
ended
ended
ended
December
September
December
December
September
December
2000
2000
2000
2000
2000
2000
TSHEPONG MINE
Rand / Metric
Dollar / Imperial
OPERATING RESULTS GOLD
Area mined
- m2
/
- ft2
- 000
103
97
387
1,107
1,049
4,162
Milled - 000
- tonnes /
- tons
- reef
343
363
1,354
378
400
1,493
- waste
-
-
-
-
-
-
- surface and dump reclamation
-
-
-
-
-
-
- total
343
363
1,354
378
400
1,493
Yield
- g/t
/
- oz/t
- reef
6.61
7.55
7.36
0.193
0.220
0.215
- waste
-
-
-
-
-
-
- surface and dump reclamation
-
-
-
-
-
-
- average
6.61
7.55
7.36
0.193
0.220
0.215
Gold produced
- kg
/
- oz 000 - reef
2,270
2,735
9,962
73
88
320
- waste
-
-
-
-
-
-
- surface and dump reclamation
-
-
-
-
-
-
- total
2,270
2,735
9,962
73
88
320
Revenue
- R/kg
/
- $/oz
- sold
67,466
64,894
64,954
275
289
291
Total cash costs
- R
/
- $
- ton milled
417
385
387
50
50
51
- R/kg
/
- $/oz
- produced
63,003
51,074
52,607
258
227
236
PRODUCTIVITY
per employee
- g
/
- oz
- target
172
169
167
5.51
5.42
5.36
- actual
164
195
176
5.27
6.26
5.65
per employee
- m2
/
- ft2
- target
5.98
5.96
5.91
64.42
64.10
63.66
- actual
7.43
6.94
6.81
79.94
74.69
73.35
FINANCIAL RESULTS (MILLION)
Gold sales
152.4
177.5
646.4
20.0
25.4
93.2
Cost of sales
156.1
165.3
602.7
20.5
23.6
86.8
Cash operating costs
142.5
139.2
522.2
18.7
19.9
75.1
Other cash costs
0.5
0.5
1.9
0.1
0.1
0.4
Total cash costs
143.0
139.7
524.1
18.8
20.0
75.5
Retrenchment costs
0.7
0.8
5.2
0.1
0.1
0.7
Rehabilitation and other non-cash costs
-
-
0.1
-
-
-
Production costs
143.7
140.5
529.4
18.9
20.1
76.2
Amortisation of mining assets
16.2
19.3
71.4
2.1
2.7
10.3
Inventory change
(3.8)
5.5
1.9
(0.5)
0.8
0.3
Operating profit
(3.7)
12.2
43.7
(0.5)
1.8
6.4
Capital expenditure
- mining direct
-
0.4
0.4
-
0.1
0.1
- other
-
-
-
-
-
-
- recoupments
-
-
-
-
-
-
Net capital expenditure
-
0.4
0.4
-
0.1
0.1
SOUTH AFRICAN REGION
FREE STATE
Quarter
Quarter
Year
Quarter
Quarter
Year
ended
ended
ended
ended
ended
ended
December
September
December
December
September
December
2000
2000
2000
2000
2000
2000
MATJHABENG MINE
Rand / Metric
Dollar / Imperial
OPERATING RESULTS GOLD
Area mined
- m2
/
- ft2
- 000
76
77
314
819
831
3,376
Milled - 000
- tonnes /
- tons
- reef
353
401
1,591
389
442
1,753
- waste
-
-
-
-
-
-
- surface and dump reclamation
-
-
-
-
-
-
- total
353
401
1,591
389
442
1,753
Yield
- g/t
/
- oz/t
- reef
6.91
7.00
7.19
0.202
0.204
0.210
- waste
-
-
-
-
-
-
- surface and dump reclamation
-
-
-
-
-
-
- average
6.91
7.00
7.19
0.202
0.204
0.210
Gold produced
- kg
/
- oz 000 - reef
2,440
2,809
11,444
78
90
368
- waste
-
-
-
-
-
-
- surface and dump reclamation
-
-
-
-
-
-
- total
2,440
2,809
11,444
78
90
368
Revenue
- R/kg
/
- $/oz
- sold
78,251
68,988
68,841
320
307
310
Total cash costs
- R
/
- $
- ton milled
507
467
459
61
61
60
- R/kg
/
- $/oz
- produced
73,332
66,710
63,754
301
297
287
PRODUCTIVITY
per employee
- g
/
- oz
- target
157
155
149
5.03
5.10
4.80
- actual
123
124
122
3.95
4.00
3.92
per employee
- m2
/
- ft2
- target
3.87
3.85
3.75
41.64
42.43
40.36
- actual
3.83
3.42
3.34
41.19
36.80
35.92
FINANCIAL RESULTS (MILLION)
Gold sales
190.2
193.8
787.2
25.0
27.7
113.9
Cost of sales
212.1
210.8
811.6
28.0
30.1
117.0
Cash operating costs
177.7
186.2
724.8
23.4
26.6
104.8
Other cash costs
1.2
1.2
4.8
0.2
0.2
0.7
Total cash costs
178.9
187.4
729.6
23.6
26.8
105.5
Retrenchment costs
27.5
11.9
52.8
3.6
1.7
7.3
Rehabilitation and other non-cash costs
-
-
(0.3)
-
-
(0.1)
Production costs
206.4
199.3
782.1
27.2
28.5
112.7
Amortisation of mining assets
8.8
5.8
27.0
1.2
0.8
3.9
Inventory change
(3.1)
5.7
2.5
(0.4)
0.8
0.4
Operating profit
(21.9)
(17.0)
(24.4)
(3.0)
(2.4)
(3.1)
Capital expenditure
- mining direct
-
-
-
-
-
-
- other
-
-
-
-
-
-
- recoupments
-
-
-
-
-
-
Net capital expenditure
-
-
-
-
-
-
SOUTH AFRICAN REGION
FREE STATE
Quarter
Quarter
Year
Quarter
Quarter
Year
ended
ended
ended
ended
ended
ended
December
September
December
December
September
December
2000
2000
2000
2000
2000
2000
JOEL MINE
Rand / Metric
Dollar / Imperial
OPERATING RESULTS GOLD
Area mined
- m2
/
- ft2
- 000
88
82
302
942
887
3,253
Milled - 000
- tonnes /
- tons
- reef
353
381
1,296
389
420
1,429
- waste
28
-
120
31
-
131
- surface and dump reclamation
-
-
-
-
-
-
- total
381
381
1,417
420
420
1,561
Yield
- g/t
/
- oz/t
- reef
4.03
4.47
4.98
0.117
0.130
0.145
- waste
0.17
-
0.58
0.005
-
0.017
- surface and dump reclamation
-
-
-
-
-
-
- average
3.74
4.47
4.61
0.109
0.130
0.135
Gold produced
- kg
/
- oz 000 - reef
1,420
1,704
6,459
46
55
208
- waste
5
-
70
0
-
2
- surface and dump reclamation
-
-
-
-
-
-
- total
1,424
1,704
6,529
46
55
210
Revenue
- R/kg
/
- $/oz
- sold
86,699
83,485
78,496
354
370
353
Total cash costs
- R
/
- $
- ton milled
295
266
295
35
35
39
- R/kg
/
- $/oz
- produced
78,912
59,431
64,085
323
265
288
PRODUCTIVITY
per employee
- g
/
- oz
- target
163
160
155
5.23
5.13
4.98
- actual
113
126
122
3.64
4.05
3.92
per employee
- m2
/
- ft2
- target
6.01
6.03
5.81
64.68
64.95
62.58
- actual
6.97
6.09
5.64
74.98
65.59
60.67
FINANCIAL RESULTS (MILLION)
Gold sales
115.0
142.3
504.8
15.1
20.3
73.0
Cost of sales
129.3
107.7
470.8
16.9
15.4
67.8
Cash operating costs
111.8
100.7
415.6
14.7
14.4
60.0
Other cash costs
0.6
0.6
2.8
0.1
0.1
0.4
Total cash costs
112.4
101.3
418.4
14.8
14.5
60.4
Retrenchment costs
(0.5)
1.0
3.8
(0.1)
0.1
0.5
Rehabilitation and other non-cash costs
-
-
(0.1)
-
-
-
Production costs
111.9
102.3
422.1
14.7
14.6
60.9
Amortisation of mining assets
10.9
13.7
49.1
1.4
2.0
7.1
Inventory change
6.5
(8.3)
(0.4)
0.8
(1.2)
(0.2)
Operating profit
(14.3)
34.6
34.0
(1.8)
4.9
5.2
Capital expenditure
- mining direct
87.3
59.5
199.8
11.5
8.4
27.9
- other
-
-
0.5
-
-
0.1
- recoupments
-
-
-
-
-
-
Net capital expenditure
87.3
59.5
200.3
11.5
8.4
28.0
SOUTH AFRICAN REGION
FREE STATE
Quarter
Quarter
Year
Quarter
Quarter
Year
ended
ended
ended
ended
ended
ended
December
September
December
December
September
December
2000
2000
2000
2000
2000
2000
SURFACE OPERATIONS
Rand / Metric
Dollar / Imperial
OPERATING RESULTS GOLD
Area mined
- m2
/
- ft2
- 000
-
-
-
-
-
-
Milled - 000
- tonnes /
- tons
- reclamation from rehabilitation
263
199
956
290
219
1,053
- waste
-
-
-
-
-
-
- surface and dump reclamation
452
467
1,857
498
515
2,047
- total
715
666
2,813
788
734
3,100
Yield
- g/t
/
- oz/t
- reclamation from rehabilitation
1.01
1.06
1.05
0.029
0.031
0.031
- waste
-
-
-
-
-
-
- surface and dump reclamation
0.85
0.81
0.86
0.025
0.024
0.025
- average
0.91
0.88
0.92
0.026
0.026
0.027
Gold produced
- kg
/
- oz 000 - reclamation from rehabilitation
265
211
1,001
9
7
32
- waste
-
-
-
-
-
-
- surface and dump reclamation
384
377
1,590
12
12
51
- total
649
588
2,591
21
19
83
Revenue
- R/kg
/
- $/oz
- sold
67,559
64,981
64,635
277
291
290
Total cash costs *
- R
/
- $
- ton milled
37
34
42
4
3
6
- R/kg
/
- $/oz
- produced
42,955
42,180
49,635
178
188
227
PRODUCTIVITY
per employee
- g
/
- oz
- target
311
303
332
10.01
9.76
10.69
- actual
254
228
249
8.18
7.32
8.00
per employee
- m2
/
- ft2
- target
-
-
-
-
-
-
- actual
-
-
-
-
-
-
FINANCIAL RESULTS (MILLION)
Gold sales
43.5
38.2
167.0
5.7
5.5
24.1
Cost of sales
20.2
16.1
83.9
2.6
2.3
12.2
Cash operating costs
16.5
15.9
78.9
2.2
2.3
11.6
Other cash costs
-
-
-
-
-
-
Total cash costs
16.5
15.9
78.9
2.2
2.3
11.6
Retrenchment costs
0.1
-
0.2
-
-
-
Rehabilitation and other non-cash costs
-
-
-
-
-
-
Production costs
16.6
15.9
79.1
2.2
2.3
11.6
Amortisation of mining assets
0.3
0.2
1.5
-
-
0.2
Inventory change
3.3
-
3.3
0.4
-
0.4
Operating profit
23.3
22.1
83.1
3.1
3.2
11.9
Capital expenditure
- mining direct
-
-
-
-
-
-
- other
-
-
-
-
-
-
- recoupments
-
-
-
-
-
-
Net capital expenditure
-
-
-
-
-
-
* Excludes reclamation from rehabilitation
SOUTH AFRICAN REGION
WEST WITS
Quarter
Quarter
Year
Quarter
Quarter
Year
ended
ended
ended
ended
ended
ended
December
September
December
December
September
December
2000
2000
2000
2000
2000
2000
TAUTONA MINE
Rand / Metric
Dollar / Imperial
OPERATING RESULTS GOLD
Area mined
- m2
/
- ft2
- 000
74
77
288
798
828
3,101
Milled - 000
- tonnes /
- tons
- reef
411
429
1,649
454
473
1,818
- waste
-
-
-
-
-
-
- surface and dump reclamation
-
-
-
-
-
-
- total
411
429
1,649
454
473
1,818
Yield
- g/t
/
- oz/t
- reef
11.60
11.54
11.30
0.338
0.337
0.330
- waste
-
-
-
-
-
-
- surface and dump reclamation
-
-
-
-
-
-
- average
11.60
11.54
11.30
0.338
0.337
0.330
Gold produced
- kg
/
- oz 000 - reef
4,772
4,956
18,643
153
159
599
- waste
-
-
-
-
-
-
- surface and dump reclamation
-
-
-
-
-
-
- total
4,772
4,956
18,643
153
159
599
Revenue
- R/kg
/
- $/oz
- sold
67,370
65,068
64,811
275
289
290
Total cash costs
- R
/
- $
- ton milled
435
442
433
52
57
57
- R/kg
/
- $/oz
- produced
37,553
38,314
38,288
154
171
172
PRODUCTIVITY
per employee
- g
/
- oz
- target
294
289
282
9.47
9.28
9.07
- actual
259
270
250
8.34
8.67
8.05
per employee
- m2
/
- ft2
- target
4.49
4.52
4.38
48.31
48.67
47.12
- actual
4.03
4.18
3.87
43.38
45.02
41.65
FINANCIAL RESULTS (MILLION)
Gold sales
321.0
322.5
1,207.8
42.1
46.0
173.5
Cost of sales
196.8
202.3
761.1
25.9
28.9
109.8
Cash operating costs
177.8
188.5
708.5
23.4
27.0
102.4
Other cash costs
1.4
1.4
5.3
0.2
0.2
0.8
Total cash costs
179.2
189.9
713.8
23.6
27.2
103.2
Retrenchment costs
1.0
1.7
4.5
0.1
0.2
0.5
Rehabilitation and other non-cash costs
-
-
-
-
-
-
Production costs
180.2
191.6
718.3
23.7
27.4
103.7
Amortisation of mining assets
13.1
12.0
45.9
1.7
1.7
6.6
Inventory change
3.5
(1.3)
(3.1)
0.5
(0.2)
(0.5)
Operating profit
124.2
120.2
446.7
16.2
17.1
63.7
Capital expenditure
- mining direct
23.3
11.6
41.3
3.1
1.7
5.8
- other
0.4
0.3
0.8
0.1
-
0.1
- recoupments
-
-
-
-
-
-
Net capital expenditure
23.7
11.9
42.1
3.2
1.7
5.9
SOUTH AFRICAN REGION
WEST WITS
Quarter
Quarter
Year
Quarter
Quarter
Year
ended
ended
ended
ended
ended
ended
December
September
December
December
September
December
2000
2000
2000
2000
2000
2000
SAVUKA MINE
Rand / Metric
Dollar / Imperial
OPERATING RESULTS GOLD
Area mined
- m2
/
- ft2
- 000
57
54
211
616
578
2,273
Milled - 000
- tonnes /
- tons
- reef
254
253
1,009
280
279
1,113
- waste
-
-
-
-
-
-
- surface and dump reclamation
-
-
-
-
-
-
- total
254
253
1,009
280
279
1,113
Yield
- g/t
/
- oz/t
- reef
8.92
8.42
8.39
0.260
0.246
0.245
- waste
-
-
-
-
-
-
- surface and dump reclamation
-
-
-
-
-
-
- average
8.92
8.42
8.39
0.260
0.246
0.245
Gold produced
- kg
/
- oz 000 - reef
2,267
2,133
8,468
73
69
272
- waste
-
-
-
-
-
-
- surface and dump reclamation
-
-
-
-
-
-
- total
2,267
2,133
8,468
73
69
272
Revenue
- R/kg
/
- $/oz
- sold
67,344
65,252
65,117
276
289
291
Total cash costs
- R
/
- $
- ton milled
474
469
461
57
61
60
- R/kg
/
- $/oz
- produced
53,146
55,736
54,927
218
248
247
PRODUCTIVITY
per employee
- g
/
- oz
- target
174
175
171
5.59
5.63
5.51
- actual
183
173
169
5.90
5.56
5.43
per employee
- m2
/
- ft2
- target
4.81
4.84
4.73
51.80
52.13
50.95
- actual
4.63
4.35
4.21
49.87
46.87
45.34
FINANCIAL RESULTS (MILLION)
Gold sales
152.5
139.2
551.2
20.1
19.8
79.2
Cost of sales
123.8
126.0
487.0
16.4
17.9
70.3
Cash operating costs
120.0
118.4
463.1
15.8
16.9
66.8
Other cash costs
0.5
0.5
2.0
0.1
0.1
0.4
Total cash costs
120.5
118.9
465.1
15.9
17.0
67.2
Retrenchment costs
0.7
1.0
4.4
0.1
0.1
0.6
Rehabilitation and other non-cash costs
-
-
-
-
-
-
Production costs
121.2
119.9
469.5
16.0
17.1
67.8
Amortisation of mining assets
7.3
6.6
24.8
1.0
0.9
3.5
Inventory change
(4.7)
(0.5)
(7.3)
(0.6)
(0.1)
(1.0)
Operating profit
28.7
13.2
64.2
3.7
1.9
8.9
Capital expenditure
- mining direct
3.3
1.8
7.4
0.4
0.3
1.0
- other
0.1
0.1
0.2
-
-
-
- recoupments
-
-
-
-
-
-
Net capital expenditure
3.4
1.9
7.6
0.4
0.3
1.0
SOUTH AFRICAN REGION
WEST WITS
Quarter
Quarter
Year
Quarter
Quarter
Year
ended
ended
ended
ended
ended
ended
December
September
December
December
September
December
2000
2000
2000
2000
2000
2000
MPONENG MINE
Rand / Metric
Dollar / Imperial
OPERATING RESULTS GOLD
Area mined
- m2
/
- ft2
- 000
65
68
259
697
730
2,788
Milled - 000
- tonnes /
- tons
- reef
360
393
1,535
397
433
1,692
- waste
-
-
16
-
-
17
- surface and dump reclamation
-
-
-
-
-
-
- total
360
393
1,551
397
433
1,709
Yield
- g/t
/
- oz/t
- reef
7.00
7.74
8.13
0.204
0.226
0.237
- waste
-
-
0.31
-
-
0.009
- surface and dump reclamation
-
-
-
-
-
-
- average
7.00
7.74
8.05
0.204
0.226
0.235
Gold produced
- kg
/
- oz 000 - reef
2,521
3,043
12,484
81
98
401
- waste
-
-
5
-
-
0
- surface and dump reclamation
-
-
-
-
-
-
- total
2,521
3,043
12,489
81
98
402
Revenue
- R/kg
/
- $/oz
- sold
67,406
65,096
64,398
276
289
292
Total cash costs
- R
/
- $
- ton milled
465
435
427
55
56
56
- R/kg
/
- $/oz
- produced
66,470
56,191
53,000
271
249
238
PRODUCTIVITY
per employee
- g
/
- oz
- target
208
206
207
6.69
6.61
6.64
- actual
155
184
190
4.99
5.92
6.10
per employee
- m2
/
- ft2
- target
4.35
4.17
4.15
46.78
44.84
44.70
- actual
3.99
4.10
3.93
42.90
44.17
42.34
FINANCIAL RESULTS (MILLION)
Gold sales
169.7
198.1
804.0
22.3
28.3
117.2
Cost of sales
191.3
191.1
745.6
25.1
27.3
107.5
Cash operating costs
166.8
170.2
658.4
21.9
24.3
95.0
Other cash costs
0.8
0.8
3.5
0.1
0.1
0.4
Total cash costs
167.6
171.0
661.9
22.0
24.4
95.4
Retrenchment costs
0.7
1.5
3.0
0.1
0.2
0.4
Rehabilitation and other non-cash costs
-
-
-
-
-
-
Production costs
168.3
172.5
664.9
22.1
24.6
95.8
Amortisation of mining assets
16.7
19.4
78.4
2.2
2.8
11.4
Inventory change
6.3
(0.8)
2.3
0.8
(0.1)
0.3
Operating profit
(21.6)
7.0
58.4
(2.8)
1.0
9.7
Capital expenditure
- mining direct
66.6
58.6
198.8
8.8
8.4
28.2
- other
1.6
1.8
4.5
0.2
0.3
0.7
- recoupments
-
-
-
-
-
-
Net capital expenditure
68.2
60.4
203.3
9.0
8.7
28.9
SOUTH AFRICAN REGION
WEST WITS
Quarter
Quarter
Year
Quarter
Quarter
Year
ended
ended
ended
ended
ended
ended
December
September
December
December
September
December
2000
2000
2000
2000
2000
2000
ELANDSRAND MINE
Rand / Metric
Dollar / Imperial
OPERATING RESULTS GOLD
Area mined
- m2
/
- ft2
- 000
106
100
392
1,141
1,076
4,219
Milled - 000
- tonnes /
- tons
- reef
418
428
1,697
461
472
1,871
- waste
7
8
32
8
9
35
- surface and dump reclamation
-
-
-
-
-
-
- total
425
436
1,729
468
481
1,906
Yield
- g/t
/
- oz/t
- reef
6.19
5.94
6.48
0.181
0.173
0.189
- waste
0.57
0.50
0.47
0.017
0.015
0.014
- surface and dump reclamation
-
-
-
-
-
-
- average
6.10
5.84
6.37
0.178
0.170
0.186
Gold produced
- kg
/
- oz 000 - reef
2,589
2,541
10,993
83
82
354
- waste
4
4
15
0
0
0
- surface and dump reclamation
-
-
-
-
-
-
- total
2,593
2,545
11,008
83
82
355
Revenue
- R/kg
/
- $/oz
- sold
67,273
65,074
64,736
275
288
292
Total cash costs
- R
/
- $
- ton milled
420
411
399
50
53
52
- R/kg
/
- $/oz
- produced
68,792
70,496
62,597
282
313
281
PRODUCTIVITY
per employee
- g
/
- oz
- target
183
177
181
5.89
5.68
5.82
- actual
146
142
153
4.70
4.58
4.92
per employee
- m2
/
- ft2
- target
5.91
5.82
5.70
63.61
62.61
61.31
- actual
5.97
5.60
5.44
64.29
60.25
58.51
FINANCIAL RESULTS (MILLION)
Gold sales
174.2
165.6
712.4
22.9
23.6
103.2
Cost of sales
194.1
194.8
753.1
25.6
27.8
108.8
Cash operating costs
177.7
177.9
686.4
23.4
25.4
99.1
Other cash costs
0.7
1.5
2.7
0.1
0.2
0.4
Total cash costs
178.4
179.4
689.1
23.5
25.6
99.5
Retrenchment costs
0.4
0.7
3.7
0.1
0.1
0.6
Rehabilitation and other non-cash costs
-
-
-
-
-
-
Production costs
178.8
180.1
692.8
23.6
25.7
100.1
Amortisation of mining assets
16.3
15.4
65.1
2.1
2.2
9.4
Inventory change
(1.0)
(0.7)
(4.8)
(0.1)
(0.1)
(0.7)
Operating profit
(19.9)
(29.2)
(40.7)
(2.7)
(4.2)
(5.6)
Capital expenditure
- mining direct
34.8
36.3
131.6
4.6
5.2
18.9
- other
-
(0.3)
(0.3)
-
-
-
- recoupments
-
-
-
-
-
-
Net capital expenditure
34.8
36.0
131.3
4.6
5.2
18.9
SOUTH AFRICAN REGION
WEST WITS
Quarter
Quarter
Year
Quarter
Quarter
Year
ended
ended
ended
ended
ended
ended
December
September
December
December
September
December
2000
2000
2000
2000
2000
2000
DEELKRAAL MINE
Rand / Metric
Dollar / Imperial
OPERATING RESULTS GOLD
Area mined
- m2
/
- ft2
- 000
32
35
139
340
381
1,491
Milled - 000
- tonnes /
- tons
- reef
154
215
758
169
237
836
- waste
-
-
-
-
-
-
- surface and dump reclamation
-
-
-
-
-
-
- total
154
215
758
169
237
836
Yield
- g/t
/
- oz/t
- reef
8.38
6.57
7.17
0.244
0.192
0.209
- waste
-
-
-
-
-
-
- surface and dump reclamation
-
-
-
-
-
-
- average
8.38
6.57
7.17
0.244
0.192
0.209
Gold produced
- kg
/
- oz 000 - reef
1,288
1,412
5,434
41
45
175
- waste
-
-
-
-
-
-
- surface and dump reclamation
-
-
-
-
-
-
- total
1,288
1,412
5,434
41
45
175
Revenue
- R/kg
/
- $/oz
- sold
67,260
64,952
64,834
276
289
292
Total cash costs
- R
/
- $
- ton milled
553
416
467
66
54
62
- R/kg
/
- $/oz
- produced
66,006
63,252
65,200
271
282
294
PRODUCTIVITY
per employee
- g
/
- oz
- target
164
160
163
5.28
5.13
5.25
- actual
123
130
126
3.95
4.18
4.05
per employee
- m2
/
- ft2
- target
4.31
4.20
4.23
46.39
45.25
45.56
- actual
3.01
3.26
3.21
32.39
35.10
34.56
FINANCIAL RESULTS (MILLION)
Gold sales
86.5
91.7
352.2
11.4
13.1
51.0
Cost of sales
92.1
109.3
400.3
12.1
15.6
58.0
Cash operating costs
84.5
88.8
352.3
11.1
12.7
51.0
Other cash costs
0.5
0.5
2.0
0.1
0.1
0.4
Total cash costs
85.0
89.3
354.3
11.2
12.8
51.4
Retrenchment costs
0.4
0.3
2.8
0.1
-
0.4
Rehabilitation and other non-cash costs
-
-
-
-
-
-
Production costs
85.4
89.6
357.1
11.3
12.8
51.8
Amortisation of mining assets
16.3
20.1
54.6
2.1
2.9
7.8
Inventory change
(9.6)
(0.4)
(11.4)
(1.3)
(0.1)
(1.6)
Operating profit
(5.6)
(17.6)
(48.1)
(0.7)
(2.5)
(7.0)
Capital expenditure
- mining direct
2.6
4.1
10.9
0.3
0.6
1.6
- other
-
-
-
-
-
-
- recoupments
-
-
-
-
-
-
Net capital expenditure
2.6
4.1
10.9
0.3
0.6
1.6
SOUTH AFRICAN REGION
WEST WITS
Quarter
Quarter
Year
Quarter
Quarter
Year
ended
ended
ended
ended
ended
ended
December
September
December
December
September
December
2000
2000
2000
2000
2000
2000
SURFACE OPERATIONS
Rand / Metric
Dollar / Imperial
OPERATING RESULTS GOLD
Area mined
- m2
/
- ft2
- 000
-
-
-
-
-
-
Milled - 000
- tonnes /
- tons
- reclamation from rehabilitation
4
5
12
4
5
13
- waste
-
-
-
-
-
-
- surface and dump reclamation
140
118
556
154
130
613
- total
144
122
568
158
135
626
Yield
- g/t
/
- oz/t
- reclamation from rehabilitation
13.61
16.44
12.57
0.397
0.479
0.366
- waste
-
-
-
-
-
-
- surface and dump reclamation
0.50
0.78
0.61
0.014
0.023
0.018
- average
0.86
1.35
0.85
0.025
0.039
0.025
Gold produced
- kg
/
- oz 000 - reclamation from rehabilitation
54
74
145
2
2
5
- waste
-
-
-
-
-
-
- surface and dump reclamation
69
91
339
2
3
11
- total
124
165
483
4
5
16
Revenue
- R/kg
/
- $/oz
- sold
67,902
64,295
64,657
270
248
285
Total cash costs*
- R
/
- $
- ton milled
34
34
33
4
5
4
- R/kg
/
- $/oz
- produced
69,261
43,509
54,605
269
193
248
PRODUCTIVITY
per employee
- g
/
- oz
- target
-
-
-
-
-
-
- actual
-
-
-
-
-
-
per employee
- m2
/
- ft2
- target
-
-
-
-
-
-
- actual
-
-
-
-
-
-
FINANCIAL RESULTS (MILLION)
Gold sales
8.4
10.6
31.4
1.1
1.4
4.5
Cost of sales
4.9
4.0
18.7
0.6
0.6
2.7
Cash operating costs
4.8
4.0
18.5
0.6
0.6
2.7
Other cash costs
-
-
-
-
-
-
Total cash costs
4.8
4.0
18.5
0.6
0.6
2.7
Retrenchment costs
0.1
-
0.2
-
-
-
Rehabilitation and other non-cash costs
-
-
-
-
-
-
Production costs
4.9
4.0
18.7
0.6
0.6
2.7
Amortisation of mining assets
-
-
-
-
-
-
Inventory change
-
-
-
-
-
-
Operating profit
3.5
6.6
12.7
0.5
0.8
1.8
Capital expenditure
- mining direct
-
-
-
-
-
-
- other
-
-
-
-
-
-
- recoupments
-
-
-
-
-
-
Net capital expenditure
-
-
-
-
-
-
* Excludes reclamation from rehabilitation
AFRICAN REGION
Quarter
Quarter
Year
Quarter
Quarter
Year
ended
ended
ended
ended
ended
ended
December
September
December
December
September
December
2000
2000
2000
2000
2000
2000
NAVACHAB
Rand / Metric
Dollar / Imperial
OPERATING RESULTS GOLD
Mined
- tonnes /
- tons
- 000
1,234
1,240
5,224
1,360
1,367
5,758
Volume mined
- bcm
/
- bcy
- 000
350
350
1,490
457
457
1,949
Stripping ratio
- t(mined-treated) /t treated
2.60
2.72
2.96
2.60
2.72
2.96
Treated
- tonnes /
- tons
- 000
343
333
1,319
378
367
1,454
Yield
- g/t
/
- oz/t
1.96
1.91
1.82
0.057
0.056
0.053
Gold produced
- kg
/
- oz 000
671
637
2,399
22
20
77
Revenue
- R/kg
/
- $/oz
- sold
66,889
66,108
65,554
273
293
293
Total cash costs - R/kg
/
- $/oz
- produced
39,847
40,122
42,249
163
178
189
PRODUCTIVITY
per employee
- g
/
- oz
- target
598
554
533
19.23
17.82
17.14
- actual
657
609
570
21.14
19.57
18.32
FINANCIAL RESULTS ( MILLION)
Gold sales
44.9
42.1
157.3
5.9
6.0
22.6
Cost of sales
29.4
29.0
113.3
3.9
4.1
16.3
Cash operating costs
26.7
25.5
101.1
3.5
3.6
14.6
Other cash costs
-
-
0.3
-
-
-
Total cash costs
26.7
25.5
101.4
3.5
3.6
14.6
Rehabilitation and other non-cash costs
0.5
0.4
(0.1)
0.1
0.1
-
Production costs
27.2
25.9
101.3
3.6
3.7
14.6
Amortisation of mining assets
2.8
2.7
12.6
0.4
0.4
1.8
Inventory change
(0.6)
0.4
(0.6)
(0.1)
-
(0.1)
Operating profit
15.5
13.1
44.0
2.0
1.9
6.3
Capital expenditure
0.2
0.1
1.1
-
-
0.1
AFRICAN REGION
Quarter
Quarter
Year
Quarter
Quarter
Year
ended
ended
ended
ended
ended
ended
December
September
December
December
September
December
2000
2000
2000
2000
2000
2000
SADIOLA - Attributable 38%
Rand / Metric
Dollar / Imperial
OPERATING RESULTS GOLD
Mined
- tonnes /
- tons
- 000
1,657
935
5,835
1,827
1,031
6,432
Volume mined
- bcm
/
- bcy
- 000
908
132
3,245
1,188
172
4,244
Stripping ratio
- t(mined-treated) /t treated
2.09
0.80
1.87
2.09
0.80
1.87
Treated
- tonnes /
- tons
- 000
537
519
2,030
592
572
2,238
Yield
- g/t
/
- oz/t
3.14
3.78
3.56
0.092
0.110
0.104
Gold produced
- kg
/
- oz 000
1,684
1,963
7,227
54
63
232
Revenue
- R/kg
/
- $/oz
- sold
73,369
67,557
67,596
300
300
302
Total cash costs - R/kg
/
- $/oz
- produced
29,533
24,232
25,393
121
108
114
PRODUCTIVITY
per employee
- g
/
- oz
- target
1,904
2,299
2,066
61.21
73.91
66.43
- actual
1,782
2,062
1,930
57.31
66.31
62.06
FINANCIAL RESULTS ( MILLION)
Gold sales
127.6
133.8
493.7
16.8
19.1
71.0
Cost of sales
75.8
70.3
274.9
9.9
10.0
39.6
Cash operating costs
41.1
37.9
148.0
5.4
5.4
21.4
Other cash costs
8.6
9.7
35.5
1.1
1.4
5.1
Total cash costs
49.7
47.6
183.5
6.5
6.8
26.5
Rehabilitation and other non-cash costs
0.3
0.3
1.3
-
-
0.2
Production costs
50.0
47.9
184.8
6.5
6.8
26.7
Amortisation of mining assets
24.0
22.1
87.2
3.2
3.2
12.5
Inventory change
1.8
0.3
2.9
0.2
-
0.4
Operating profit
51.8
63.5
218.8
6.9
9.1
31.4
Capital expenditure
8.0
4.0
26.3
1.0
0.6
3.8
AFRICAN REGION
Quarter
Quarter
Year
Quarter
Quarter
Year
ended
ended
ended
ended
ended
ended
December
September
December
December
September
December
2000
2000
2000
2000
2000
2000
MORILA - Attributable 40%
Rand / Metric
Dollar / Imperial
OPERATING RESULTS GOLD
Mined
- tonnes /
- tons
- 000
1,682
-
1,682
1,854
-
1,854
Volume mined
- bcm
/
- bcy
- 000
980
-
980
1,282
-
1,282
Stripping ratio
- t(mined-treated) /t treated
7.41
-
7.41
7.41
-
7.41
Treated
- tonnes /
- tons
- 000
200
-
200
220
-
220
Yield
- g/t
/
- oz/t
8.81
-
8.81
0.257
-
0.257
Gold produced
- kg
/
- oz 000
1,762
-
1,762
57
-
57
Revenue
- R/kg
/
- $/oz
- sold
65,898
-
65,898
268
-
268
Total cash costs - R/kg
/
- $/oz
- produced
21,627
-
21,627
88
-
88
PRODUCTIVITY
per employee
- g
/
- oz
- target
4,736
-
4,736
152.27
-
152.27
- actual
4,736
-
4,736
152.27
-
152.27
FINANCIAL RESULTS ( MILLION)
Gold sales
116.1
-
116.1
15.2
-
15.2
Cost of sales
66.7
-
66.7
8.7
-
8.7
Cash operating costs
30.0
-
30.0
3.9
-
3.9
Other cash costs
8.1
-
8.1
1.1
-
1.1
Total cash costs
38.1
-
38.1
5.0
-
5.0
Rehabilitation and other non-cash costs
0.1
-
0.1
-
-
-
Production costs
38.2
-
38.2
5.0
-
5.0
Amortisation of mining assets
28.5
-
28.5
3.7
-
3.7
Inventory change
-
-
-
-
-
-
Operating profit
49.4
-
49.4
6.5
-
6.5
Capital expenditure
76.6
34.2
110.8
10.0
4.9
15.0
NORTH AMERICAN REGION
Quarter
Quarter
Year
Quarter
Quarter
Year
ended
ended
ended
ended
ended
ended
December
September
December
December
September
December
2000
2000
2000
2000
2000
2000
CRIPPLE CREEK & VICTOR J.V.
Rand / Metric
Dollar / Imperial
OPERATING RESULTS GOLD Underground Operations
Mined
- tonnes /
- tons
- 000
-
-
-
-
-
-
Treated
- tonnes /
- tons
- 000
-
-
-
-
-
-
Gold in ore
- kg
/
- oz 000
-
-
-
-
-
-
Yield
- g/t
/
- oz/t
-
-
-
-
-
-
Gold produced
- kg
/
- oz 000
-
-
-
-
-
-
Open-pit Operations
Mined
- tonnes /
- tons
- 000
7,021
6,076
26,253
7,739
6,698
28,939
Stripping ratio
- t(mined-treated) /t treated
1.51
1.41
1.56
1.51
1.41
1.56
Treated
- tonnes /
- tons
- 000
2,795
2,524
10,269
3,081
2,782
11,319
Gold in ore
- kg
/
- oz 000
3,395
3,062
12,270
109
98
394
Yield
- g/t
/
- oz/t
0.72
0.81
0.75
0.021
0.024
0.022
Gold produced
- kg
/
- oz 000
2,004
2,035
7,702
64
65
248
Total
Yield
- g/t
/
- oz/t
0.72
0.81
0.75
0.021
0.024
0.022
Gold produced
- kg
/
- oz 000
2,004
2,035
7,702
64
65
248
Revenue
- R/kg
/
- $/oz
- sold
85,023
74,368
74,471
345
327
330
Total cash costs
- R/kg
/
- $/oz
- produced
45,365
40,969
42,454
186
182
190
PRODUCTIVITY
per employee
- g
/
- oz
- target
1,969
2,352
2,241
63.30
75.60
72.06
- actual
1,914
1,922
1,886
61.54
61.78
60.63
FINANCIAL RESULTS (MILLION)
Gold sales
170.4
151.3
573.6
22.3
21.4
81.6
Cost of sales
135.0
119.5
468.2
17.8
17.0
68.8
Cash operating costs
90.9
83.4
327.0
12.0
11.9
47.0
Other cash costs
-
-
-
-
-
-
Total cash costs
90.9
83.4
327.0
12.0
11.9
47.0
Rehabilitation and other non-cash costs
3.6
3.0
12.2
0.5
0.4
1.7
Production costs
94.5
86.4
339.2
12.5
12.3
48.7
Amortisation of mining assets
45.5
38.6
153.0
6.0
5.5
23.6
Inventory change
(5.0)
(5.5)
(24.0)
(0.7)
(0.8)
(3.5)
Operating profit
35.4
31.8
105.4
4.5
4.4
12.8
Capital expenditure
43.2
45.3
141.7
5.7
6.5
20.3
Note: The gold produced for underground and open-pit operations is allocated on gold in ore.
NORTH AMERICAN REGION
Quarter
Quarter
Year
Quarter
Quarter
Year
ended
ended
ended
ended
ended
ended
December
September
December
December
September
December
2000
2000
2000
2000
2000
2000
JERRITT CANYON J.V. - Attributable 70%
Rand / Metric
Dollar / Imperial
OPERATING RESULTS GOLD Underground Operations
Mined
- tonnes /
- tons
- 000
234
215
820
258
237
904
Treated
- tonnes /
- tons
- 000
159
137
555
175
151
611
Gold in ore
- kg
/
- oz 000
1,924
1,589
6,342
62
51
204
Yield
- g/t
/
- oz/t
15.58
11.94
13.93
0.454
0.348
0.406
Gold produced
- kg
/
- oz 000
2,480
1,631
7,724
80
52
248
Open-pit Operations
Mined
- tonnes /
- tons
- 000
-
-
-
-
-
-
Stripping ratio
- t(mined-treated) /t treated
-
-
-
-
-
-
Treated
- tonnes /
- tons
- 000
-
-
-
-
-
-
Gold in ore
- kg
/
- oz 000
-
-
-
-
-
-
Yield
- g/t
/
- oz/t
-
-
-
-
-
-
Gold produced
- kg
/
- oz 000
-
-
-
-
-
-
Total
Yield
- g/t
/
- oz/t
15.58
11.94
13.93
0.454
0.348
0.406
Gold produced
- kg
/
- oz 000
2,480
1,631
7,724
80
52
248
Revenue
- R/kg
/
- $/oz
- sold
84,824
74,369
74,909
345
327
331
Total cash costs
- R/kg
/
- $/oz
- produced
59,301
50,473
48,730
243
224
215
PRODUCTIVITY
per employee
- g
/
- oz
- target
2,155
1,973
2,134
69.29
63.43
68.61
- actual
1,707
1,673
1,674
54.90
53.78
58.21
FINANCIAL RESULTS (MILLION)
Gold sales
210.4
121.2
578.6
27.5
17.1
82.1
Cost of sales
198.5
118.5
532.6
26.1
16.9
75.6
Cash operating costs
147.1
82.3
376.4
19.3
11.8
53.4
Other cash costs
-
-
-
-
-
-
Total cash costs
147.1
82.3
376.4
19.3
11.8
53.4
Rehabilitation and other non-cash costs
1.9
1.5
5.9
0.3
0.2
0.8
Production costs
149.0
83.8
382.3
19.6
12.0
54.2
Amortisation of mining assets
46.4
37.3
148.0
6.1
5.3
21.1
Inventory change
3.1
(2.6)
2.3
0.4
(0.4)
0.3
Operating profit
11.9
2.7
46.0
1.4
0.2
6.5
Capital expenditure
27.9
33.5
110.6
3.7
4.8
15.9
Note: The gold produced for underground and open-pit operations is allocated on gold in ore.
SOUTH AMERICAN REGION
Quarter
Quarter
Year
Quarter
Quarter
Year
ended
ended
ended
ended
ended
ended
December
September
December
December
September
December
2000
2000
2000
2000
2000
2000
MORRO VELHO
Rand / Metric
Dollar / Imperial
OPERATING RESULTS GOLD Underground Operations
Mined
- tonnes /
- tons
- 000
267
212
853
294
233
940
Treated
- tonnes /
- tons
- 000
267
212
851
294
233
938
Gold in ore
- kg
/
- oz 000
2,132
1,610
6,668
69
52
214
Yield
- g/t
/
- oz/t
7.61
7.11
7.25
0.222
0.207
0.211
Gold produced
- kg
/
- oz 000
2,031
1,503
6,182
65
48
199
Open-pit Operations
Mined
- tonnes /
- tons
- 000
236
145
826
261
160
910
Stripping ratio
- t(mined-treated) /t treated
9.35
4.81
6.32
9.35
4.81
6.32
Treated
- tonnes /
- tons
- 000
23
25
113
25
27
124
Gold in ore
- kg
/
- oz 000
67
72
404
2
2
13
Yield
- g/t
/
- oz/t
2.76
2.58
3.33
0.080
0.075
0.097
Gold produced
- kg
/
- oz 000
63
64
376
2
2
12
Total
Yield
- g/t
/
- oz/t
7.23
6.63
6.79
0.211
0.193
0.198
Gold produced
- kg
/
- oz 000
2,094
1,567
6,558
67
50
211
Revenue
- R/kg
/
- $/oz
- sold
80,651
73,908
73,799
329
328
328
Total cash costs
- R/kg
/
- $/oz
- produced
33,393
30,763
30,169
136
137
134
PRODUCTIVITY
per employee
- g
/
- oz
- target
446
432
423
14.34
13.89
13.61
- actual
496
415
426
15.94
13.35
13.69
FINANCIAL RESULTS (MILLION)
Gold sales
147.5
139.9
461.2
19.4
19.9
66.0
Cost of sales
82.5
86.0
259.8
10.7
12.1
36.9
Cash operating costs
68.9
47.2
194.0
9.0
6.7
27.6
Other cash costs
1.1
1.0
3.8
0.1
0.1
0.5
Total cash costs
70.0
48.2
197.8
9.1
6.8
28.1
Rehabilitation and other non-cash costs
1.6
0.7
3.0
0.2
0.1
0.4
Production costs
71.6
48.9
200.8
9.3
6.9
28.5
Amortisation of mining assets
20.6
18.4
69.5
2.7
2.6
10.0
Inventory change
(9.7)
18.7
(10.5)
(1.3)
2.6
(1.6)
Operating profit
65.0
53.9
201.4
8.7
7.8
29.1
Capital expenditure
19.3
17.4
73.7
2.5
2.5
10.5
Note: The gold produced for underground and open-pit operations is allocated on gold in ore.
SOUTH AMERICAN REGION
Quarter
Quarter
Year
Quarter
Quarter
Year
ended
ended
ended
ended
ended
ended
December
September
December
December
September
December
2000
2000
2000
2000
2000
2000
SERRA GRANDE - Attributable 50%
Rand / Metric
Dollar / Imperial
OPERATING RESULTS GOLD Underground Operations
Mined
- tonnes /
- tons
- 000
93
92
376
103
102
414
Treated
- tonnes /
- tons
- 000
92
92
368
101
101
405
Gold in ore
- kg
/
- oz 000
759
820
3,153
24
26
101
Yield
- g/t
/
- oz/t
7.87
8.45
8.15
0.230
0.247
0.238
Gold produced
- kg
/
- oz 000
724
776
2,999
23
25
96
Open-pit Operations
Mined
- tonnes /
- tons
- 000
-
-
-
-
-
-
Stripping ratio
- t(mined-treated) /t treated
-
-
-
-
-
-
Treated
- tonnes /
- tons
- 000
-
-
-
-
-
-
Gold in ore
- kg
/
- oz 000
-
-
-
-
-
-
Yield
- g/t
/
- oz/t
-
-
-
-
-
-
Gold produced
- kg
/
- oz 000
-
-
-
-
-
-
Total
Yield
- g/t
/
- oz/t
7.87
8.45
8.15
0.230
0.247
0.238
Gold produced
- kg
/
- oz 000
724
776
2,999
23
25
96
Revenue
- R/kg
/
- $/oz
- sold
84,502
73,520
74,120
345
326
330
Total cash costs
- R/kg
/
- $/oz
- produced
30,281
24,244
25,043
124
108
112
PRODUCTIVITY
per employee
- g
/
- oz
- target
953
992
964
30.64
31.88
30.99
- actual
931
990
968
29.94
31.83
31.12
FINANCIAL RESULTS (MILLION)
Gold sales
60.4
56.7
218.0
7.9
8.1
31.3
Cost of sales
32.0
28.2
112.8
4.1
4.0
16.3
Cash operating costs
21.0
18.0
71.8
2.8
2.6
10.3
Other cash costs
0.9
0.8
3.3
0.1
0.1
0.5
Total cash costs
21.9
18.8
75.1
2.9
2.7
10.8
Rehabilitation and other non-cash costs
1.8
0.5
3.3
0.2
0.1
0.5
Production costs
23.7
19.3
78.4
3.1
2.8
11.3
Amortisation of mining assets
9.4
8.6
36.4
1.2
1.2
5.3
Inventory change
(1.1)
0.3
(2.0)
(0.2)
-
(0.3)
Operating profit
28.4
28.5
105.2
3.8
4.1
15.0
Capital expenditure
5.4
4.4
19.4
0.7
0.6
2.7
Note: The gold produced for underground and open-pit operations is allocated on gold in ore.
SOUTH AMERICAN REGION
Quarter
Quarter
Year
Quarter
Quarter
Year
ended
ended
ended
ended
ended
ended
December
September
December
December
September
December
2000
2000
2000
2000
2000
2000
CERRO VANGUARDIA - Attributable 46.25%
Rand / Metric
Dollar / Imperial
OPERATING RESULTS GOLD Underground Operations
Mined
- tonnes /
- tons
- 000
-
-
-
-
-
-
Treated
- tonnes /
- tons
- 000
-
-
-
-
-
-
Gold in ore
- kg
/
- oz 000
-
-
-
-
-
-
Yield
- g/t
/
- oz/t
-
-
-
-
-
-
Gold produced
- kg
/
- oz 000
-
-
-
-
-
-
Open-pit Operations
Mined
- tonnes /
- tons
- 000
977
895
3,696
1,077
987
4,074
Stripping ratio
- t(mined-treated) /t treated
9.06
9.50
9.11
9.06
9.50
9.11
Treated
- tonnes /
- tons
- 000
97
85
365
107
94
403
Gold in ore
- kg
/
- oz 000
1,029
1,021
4,255
33
33
137
Yield
- g/t
/
- oz/t
10.16
11.56
11.22
0.296
0.337
0.327
Gold produced
- kg
/
- oz 000
986
985
4,101
32
32
132
Total
Yield
- g/t
/
- oz/t
10.16
11.56
11.22
0.296
0.337
0.327
Gold produced
- kg
/
- oz 000
986
985
4,101
32
32
132
Revenue
- R/kg
/
- $/oz
- sold
74,254
67,467
67,337
304
300
308
Total cash costs
- R/kg
/
- $/oz
- produced
41,593
33,937
32,742
170
151
146
PRODUCTIVITY
per employee
- g
/
- oz
- target
1,701
1,737
1,747
54.70
55.85
56.17
- actual
2,054
1,951
2,100
66.04
62.74
67.50
FINANCIAL RESULTS (MILLION)
Gold sales
84.0
72.7
310.9
11.1
10.4
45.7
Cost of sales
64.5
51.2
219.3
8.5
7.4
31.5
Cash operating costs
35.8
28.8
114.2
4.7
4.1
16.3
Other cash costs
5.2
4.6
20.1
0.7
0.7
2.9
Total cash costs
41.0
33.4
134.3
5.4
4.8
19.2
Rehabilitation and other non-cash costs
1.5
0.5
2.9
0.2
0.1
0.4
Production costs
42.5
33.9
137.2
5.6
4.9
19.6
Amortisation of mining assets
20.8
13.9
73.5
2.7
2.0
10.6
Inventory change
1.2
3.4
8.6
0.2
0.5
1.3
Operating profit
19.5
21.5
91.6
2.6
3.0
14.2
Capital expenditure
5.5
-
5.5
0.7
-
0.7
Note: The gold produced for underground and open-pit operations is allocated on gold in ore.
AUSTRALASIAN REGION
Quarter
Quarter
Year
Quarter
Quarter
Year
ended
ended
ended
ended
ended
ended
December
September
December
December
September
December
2000
2000
2000
2000
2000
2000
SUNRISE DAM
Rand / Metric
Dollar / Imperial
OPERATING RESULTS GOLD
Volume mined
- bcm
/
- bcy
- 000
5,158
4,071
14,106
6,747
5,325
18,452
Treated
- tonnes /
- tons
- 000
464
463
1,812
511
511
1,998
Yield
- g/t
/
- oz/t
4.39
4.31
3.87
0.128
0.126
0.113
Gold produced
- kg
/
- oz 000
2,037
1,999
7,011
65
64
225
Revenue
- R/kg
/
- $/oz
- sold
70,078
71,035
71,603
287
316
320
Total cash costs
- R/kg
/
- $/oz
- produced
37,244
33,686
38,466
152
149
172
PRODUCTIVITY
per employee
- g
/
- oz
- target
1,502
1,380
1,298
48.28
44.37
41.73
- actual
2,209
2,876
2,292
71.02
92.45
73.69
FINANCIAL RESULTS ( MILLION)
Gold sales
151.0
134.6
523.8
19.8
19.2
75.3
Cost of sales
99.4
73.1
336.0
12.9
10.5
48.4
Cash operating costs
72.5
64.3
261.0
9.5
9.2
37.5
Other cash costs
3.4
3.0
8.7
0.4
0.4
1.2
Total cash costs
75.9
67.3
269.7
9.9
9.6
38.7
Rehabilitation and other non-cash costs
1.1
1.1
3.8
0.1
0.2
0.5
Production costs
77.0
68.4
273.5
10.0
9.8
39.2
Amortisation of mining assets
24.3
23.7
85.4
3.2
3.4
12.3
Inventory change
(1.9)
(19.0)
(22.9)
(0.3)
(2.7)
(3.1)
Operating profit
51.6
61.5
187.8
6.9
8.7
26.9
Capital expenditure
108.7
54.6
194.1
14.3
7.8
26.8
AUSTRALASIAN REGION
Quarter
Quarter
Year
Quarter
Quarter
Year
ended
ended
ended
ended
ended
ended
December
September
December
December
September
December
2000
2000
2000
2000
2000
2000
BODDINGTON - Attributable 33.33%
Rand / Metric
Dollar / Imperial
OPERATING RESULTS GOLD
Volume mined
- bcm
/
- bcy
- 000
-
-
-
-
-
-
Treated
- tonnes /
- tons
- 000
758
655
2,934
835
722
3,234
Yield
- g/t
/
- oz/t
0.76
0.88
0.82
0.022
0.026
0.024
Gold produced
- kg
/
- oz 000
579
576
2,394
19
19
77
Revenue
- R/kg
/
- $/oz
- sold
70,331
71,453
71,668
287
317
323
Total cash costs
- R/kg
/
- $/oz
- produced
50,884
47,349
48,122
208
211
216
PRODUCTIVITY
per employee
- g
/
- oz
- target
1,910
1,735
1,847
61.42
55.77
59.38
- actual
1,644
1,605
1,706
52.86
51.59
54.86
FINANCIAL RESULTS ( MILLION)
Gold sales
38.2
41.3
170.0
5.0
5.9
24.6
Cost of sales
27.5
29.0
127.9
3.6
4.2
18.5
Cash operating costs
28.5
26.4
112.5
3.7
3.8
16.2
Other cash costs
1.0
0.9
2.7
0.1
0.1
0.4
Total cash costs
29.5
27.3
115.2
3.8
3.9
16.6
Rehabilitation and other non-cash costs
0.4
0.4
1.7
0.1
0.1
0.2
Production costs
29.9
27.7
116.9
3.9
4.0
16.8
Amortisation of mining assets
1.7
1.3
6.3
0.2
0.2
0.9
Inventory change
(4.1)
-
4.7
(0.5)
-
0.8
Operating profit
10.7
12.3
42.1
1.4
1.7
6.1
Capital expenditure
2.7
3.1
13.9
0.4
0.4
2.0
AUSTRALASIAN REGION
Quarter
Quarter
Year
Quarter
Quarter
Year
ended
ended
ended
ended
ended
ended
December
September
December
December
September
December
2000
2000
2000
2000
2000
2000
TANAMI - Attributable 40%
Rand / Metric
Dollar / Imperial
OPERATING RESULTS GOLD
Volume mined
- bcm
/
- bcy
- 000
605
885
3,073
791
1,158
4,019
Treated
- tonnes /
- tons
- 000
151
150
575
166
165
634
Yield
- g/t
/
- oz/t
2.44
2.95
2.59
0.071
0.086
0.076
Gold produced
- kg
/
- oz 000
369
441
1,493
12
14
48
Revenue
- R/kg
/
- $/oz
- sold
70,418
72,609
71,606
288
321
320
Total cash costs
- R/kg
/
- $/oz
- produced
65,126
66,966
63,931
267
298
286
PRODUCTIVITY
per employee
- g
/
- oz
- target
1,695
1,519
1,559
54.49
48.85
50.13
- actual
1,238
1,480
1,279
39.79
47.57
41.13
FINANCIAL RESULTS ( MILLION)
Gold sales
26.0
32.0
106.9
3.4
4.6
15.4
Cost of sales
26.2
31.1
101.2
3.5
4.5
14.7
Cash operating costs
23.2
29.2
92.8
3.1
4.2
13.4
Other cash costs
0.8
0.4
2.7
0.1
0.1
0.4
Total cash costs
24.0
29.6
95.5
3.2
4.3
13.8
Rehabilitation and other non-cash costs
-
-
0.4
-
-
0.1
Production costs
24.0
29.6
95.9
3.2
4.3
13.9
Amortisation of mining assets
3.7
3.6
9.0
0.5
0.5
1.3
Inventory change
(1.5)
(2.1)
(3.7)
(0.2)
(0.3)
(0.5)
Operating profit
(0.2)
0.9
5.7
(0.1)
0.1
0.7
Capital expenditure
2.1
1.8
8.9
0.3
0.3
1.3
AUSTRALASIAN REGION
Quarter
Quarter
Year
Quarter
Quarter
Year
ended
ended
ended
ended
ended
ended
December
September
December
December
September
December
2000
2000
2000
2000
2000
2000
UNION REEFS
Rand / Metric
Dollar / Imperial
OPERATING RESULTS GOLD
Volume mined
- bcm
/
- bcy
- 000
882
1,680
5,426
1,154
2,198
7,098
Treated
- tonnes /
- tons
- 000
700
734
2,823
772
809
3,111
Yield
- g/t
/
- oz/t
1.68
1.42
1.40
0.049
0.041
0.041
Gold produced
- kg
/
- oz 000
1,176
1,042
3,939
38
34
127
Revenue
- R/kg
/
- $/oz
- sold
70,098
71,431
71,278
287
317
318
Cash costs
- R/kg
/
- $/oz
- produced
55,896
69,953
61,363
229
310
274
PRODUCTIVITY
per employee
- g
/
- oz
- target
1,547
1,607
1,537
49.74
51.68
49.42
- actual
1,744
1,366
1,391
56.08
43.91
44.71
FINANCIAL RESULTS ( MILLION)
Gold sales
88.1
68.1
291.3
11.6
9.7
41.8
Cost of sales
74.9
60.9
265.4
9.8
8.7
38.3
Cash operating costs
65.7
72.9
241.7
8.6
10.4
34.7
Other cash costs
-
-
-
-
-
-
Total cash costs
65.7
72.9
241.7
8.6
10.4
34.7
Rehabilitation costs
0.8
2.3
7.6
0.1
0.3
1.1
Production costs
66.5
75.2
249.3
8.7
10.7
35.8
Amortisation of mining assets
8.4
6.3
23.8
1.1
0.9
3.4
Inventory change
-
(20.6)
(7.7)
-
(2.9)
(0.9)
Operating profit
13.2
7.2
25.9
1.8
1.0
3.5
Capital expenditure
(0.6)
4.5
6.1
(0.1)
0.6
0.8
AUSTRALASIAN REGION
Quarter
Quarter
Year
Quarter
Quarter
Year
ended
ended
ended
ended
ended
ended
December
September
December
December
September
December
2000
2000
2000
2000
2000
2000
BROCKS CREEK
Rand / Metric
Dollar / Imperial
OPERATING RESULTS GOLD
Volume mined
- bcm
/
- bcy
- 000
-
-
314
-
-
411
Treated
- tonnes /
- tons
- 000
201
351
1,160
222
387
1,278
Yield
- g/t
/
- oz/t
1.21
1.02
1.26
0.035
0.030
0.037
Gold produced
- kg
/
- oz 000
243
359
1,463
8
12
47
Revenue
- R/kg
/
- $/oz
- sold
70,454
69,933
71,099
289
311
324
Cash costs
- R/kg
/
- $/oz
- produced
40,788
37,290
43,799
167
166
201
PRODUCTIVITY
per employee
- g
/
- oz
- target
-
-
2,065
-
-
66.40
- actual
2,210
2,563
2,103
71.05
82.40
67.60
FINANCIAL RESULTS ( MILLION)
Gold sales
18.7
23.5
105.7
2.5
3.4
15.5
Cost of sales
16.0
18.7
83.3
2.2
2.7
12.2
Cash operating costs
9.5
13.2
63.0
1.3
1.9
9.3
Other cash costs
0.4
0.2
1.1
0.1
-
0.2
Total cash costs
9.9
13.4
64.1
1.4
1.9
9.5
Rehabilitation costs
1.5
-
(3.6)
0.2
-
(0.6)
Production costs
11.4
13.4
60.5
1.6
1.9
8.9
Amortisation of mining assets
0.1
-
14.9
-
-
2.3
Inventory change
4.5
5.3
7.9
0.6
0.8
1.0
Operating profit
2.7
4.8
22.4
0.3
0.7
3.3
Capital expenditure
0.1
0.3
2.1
-
-
0.3
DIRECTORS Executive R M Godsell (Chairman and Chief Executive Officer) J G Best K H Williams
Non-Executive R P Edey (British) (Deputy Chairman) F B Arisman (American) Mrs E le R Bradley C B Brayshaw Dr J W Campbell Dr V K Fung (American) M W King
(Alternate: R P Garnett)
T J Motlatsi D M J Ncube N F Oppenheimer J Ogilvie Thompson A J Trahar
(Alternate: W A Nairn)
OFFICES Registered and Corporate Managing Secretary Ms Y Z Simelane Company Secretary C R Bull
11 Diagonal Street Johannesburg 2001 (PO Box 62117, Marshalltown 2107) South Africa Telephone: +27 11 637 6000 Fax: +27 11 637 6108
Australia Level 11, 60 City Road Southbank, Victoria 3006 Australia Telephone: +61 3 9684 4999 Fax: +61 3 9696 9977
UNITED KINGDOM SECRETARIES St James's Corporate Services Limited 6 St James's Place London SW1A 1NP England Telephone: +44 20 7499 3916 Fax: +44 20 7491 1989
SHARE REGISTRARS
South Africa
Computershare Services Limited 2nd Floor, Edura, 41 Fox Street Johannesburg 2001 (PO Box 61051, Marshalltown 2107) South Africa Telephone: +27 11 370 7700 Fax: +27 11 836 0792
United Kingdom Computershare Services PLC PO Box 82 The Pavilions, Bridgwater Road Bedminster Down, Bristol BS99 7NH England Telephone: +44 870 702 0001 Fax: +44 870 703 6119
Australia Computershare Registry Services Pty Limited Level 12, 565 Bourke Street Melbourne, Victoria 3000 (GPO Box 2975EE Melbourne, Victoria 3001) Australia Telephone: +61 3 9611 5711 Fax: +61 3 9611 5710
ADR DEPOSITARY The Bank of New York 101 Barclay Street New York, NY 10286 United States of America Telephone: +1 212 815 2711 Fax: +1 212 571 3050
AUTHORISED REPRESENTATIVE United States of America Puglisi & Associates 850 Library Avenue, Suite 204 PO Box 885 Newark, Delaware 19715 United States of America Telephone: +1 302 738 6680 Fax: +1 302 738 7210
DIRECTORATE AND ADMINISTRATION
South Africa Steve Lenahan Telephone: +27 11 637 6248 Fax: +27 11 637 6107 E-mail: slenahan@anglogold.com
11 Diagonal Street Johannesburg 2001 (PO Box 62117, Marshalltown 2107) South Africa
Europe Tomasz Nadrowski Telephone: +41 22 718 3312 Fax: +41 22 718 3334 E-mail: tnadrowski@anglogold.com
67, rue du Rhone 4
th
Floor
1207 Geneva Switzerland
Alex Buck Telephone: +44 20 7664 8712 Fax: +44 20 7664 8711 E-mail: abuck@anglogold.com
2
nd
Floor, 100 Pall Mall
St James's London SW1Y 5HP England
United States of America Charles Carter Telephone: (800) 417 9255 (toll free in North America) or +1 212 750 7999 Fax: +1 212 750 5626 E-mail: ccarter@anglogold.com
509 Madison Avenue Suite 1914 New York, NY 10022 United States of America
Australia Andrea Maxey Telephone: + 61 3 9684 4920 Fax: + 61 3 9684 4951 E-mail: amaxey@anglogold.com.au
Level 11, 60 City Road Southbank Victoria 3006 Australia
With effect 14 March 2001
Mobile: +61 438 001 393 E-mail: amaxey@anglogold.com.au
Level 13 & 14 44 St Georges Terrace Perth Western Australia 6000
General E-mail enquiries investors@anglogold.com
AngloGold website http://www.anglogold.com
Global BuyDIRECT
SM
The Bank of New York maintains a direct share purchase and dividend reinvestment plan for AngloGold.
For additional information, please visit The Bank of New York's website at www.globalbuydirect.com or call Shareholder Relations at 1-888-BNY-ADRS or write to: The Bank of New York Shareholder Relations Department Global BuyDIRECT
SM
Church Street Station PO Box 11258 New York, NY 10286-1258 United States of America
CONTACTS
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
AngloGold Limited
Date: 11 JULY 2003
By: /s/ C R BULL
_
Name: C R Bull Title: Company Secretary