AngloGold Ashanti

Located in Johanesberg, South Africa, AngloGold Ashanti is a limited company in the gold mining industry. It not only deals in gold ore, but also Silver and Uranium Oxide. The company currently has operations on four continents including the countries South Africa, United States, Australia, Argentina, Brazil, Columbia, Ghana, Guinea, Mali, Namibia and Tanzania. The company’s shares are listed on several exchanges, including the Johannesburg Stock Exchange, New York Stock Exchange, London Stock Exchange, Ghanaian Stock Exchange, Australian Stock Exchange, and the bourses in Brussels and Paris.

AngloGold is one of the larger gold mining companies in the world, employing over 62,000 employees at its many operational locations. Going by 2007 data, they have a total market cap of $11.9 billion US Dollar equivalent, with 277,457,471 ordinary shares in issue, and they produce 5.5 million ounces of gold per year, with 43% coming from their home base of South Africa. Their total gold reserves are around 73.1 million ounces. The company came under its current structure in 2004 when AngloGold merged with Ashanti Goldfields Corporation.

The mining industry often falls under the criticism of human rights activists for its utilization of cheap labor and unhealthy business practices. They received particularly negative press in 2005 when they admitted to paying extortion money to the Nationalist and Integrationist Front so that they could gain uninterrupted access to mines in the Ituri province of the Democratic Republic of Congo. Also in 2007 a report published by the War on Want charity claimed Anglo was profiting from the abuse of employees in developing countries.
AngloGold Ashanti’s current business structure puts M. Cutifani as the CEO, S. Venkatakrishnanas the CFO, and R. P. Edey, as the chairman of the board. There are 8 non executive directors on the board also.

With over 21 operations on 4 continents and 11 countries, AngloGold Ashanti is one of the most widely spread and largest producers of gold in the world, and their current strategy is to continue their success by expanding from the bases they already have in place, whilst recognizing their environmental and sustainable responsibilities.

Copyright © 2015 All rights reserved.| Privacy | About | Contact