Media release
Unaudited interim results
for the six months ended 30 June 2023
for the six months ended 30 June 2023
OPERATING RESULTS All-in cost
World Gold Council Industry Standard
| United States Dollars | ||||||||||||
| Total Group including equity- accounted Joint Venture |
Total Mine Operations and projects Including Equity- accounted Joint Venture |
Total Mine Operations and projects Excluding Equity- accounted Joint Venture |
Americas Region |
Ghana Region |
South Africa Region |
|||||||
| Peru | Chile | Ghana | ||||||||||
| Figures in millions unless otherwise stated | Total2 | Cerro Corona |
Salares Norte1 |
Total | Asanko 45% | Tarkwa | Damang | South Deep |
||||
| Six months to | June 2023 | (1,043.2) | (1,043.2) | (1,013.7) | (113.8) | (111.6) | (2.2) | (349.3) | (29.5) | (221.2) | (98.6) | (157.1) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of sales before gold inventory change and amortisation and depreciation | Dec 2022 | (1,011.1) | (1,011.1) | (983.1) | (117.7) | (117.7) | – | (343.9) | (28.0) | (226.8) | (89.1) | (158.3) |
| June 2022 | (988.7) | (988.7) | (943.9) | (107.3) | (107.3) | – | (329.1) | (44.8) | (180.1) | (104.2) | (166.3) | |
| Six months to | June 2023 | 66.1 | 66.1 | 68.1 | 18.8 | 16.6 | 2.2 | 60.9 | (2.0) | 44.2 | 18.6 | (11.7) |
| Gold inventory change | Dec 2022 | 135.6 | 135.6 | 141.6 | 40.1 | 35.6 | 4.5 | 40.4 | (6.0) | 40.9 | 5.5 | 10.6 |
| June 2022 | 17.9 | 17.9 | 21.3 | 14.0 | 14.0 | – | 26.9 | (3.4) | (5.3) | 35.6 | 0.1 | |
| Six months to | June 2023 | (63.4) | (63.4) | (60.2) | (4.8) | (4.8) | – | (31.8) | (3.1) | (22.5) | (6.2) | (1.5) |
| Royalties | Dec 2022 | (54.8) | (54.8) | (51.8) | (2.5) | (2.5) | – | (29.0) | (3.0) | (18.8) | (7.2) | (1.4) |
| June 2022 | (62.3) | (62.3) | (58.6) | (3.3) | (3.3) | – | (32.4) | (3.7) | (19.4) | (9.4) | (1.5) | |
| Six months to | June 2023 | – | – | – | – | – | – | – | – | – | – | – |
| Realised gains/(losses) on commodity cost hedges | Dec 2022 | 13.0 | 13.0 | 13.0 | – | – | – | 8.2 | – | 5.9 | 2.3 | – |
| June 2022 | 13.7 | 13.7 | 13.7 | – | – | – | 8.3 | – | 5.6 | 2.7 | – | |
| Six months to | June 2023 | (7.4) | (7.4) | (7.4) | (1.9) | (1.9) | – | (3.7) | – | (3.4) | (0.3) | (1.7) |
| Community/social responsibility costs | Dec 2022 | (10.5) | (10.5) | (10.5) | (5.6) | (5.6) | – | (2.5) | – | (1.9) | (0.6) | (2.5) |
| June 2022 | (7.7) | (7.7) | (7.7) | (1.8) | (1.8) | – | (5.0) | – | (3.3) | (1.6) | (0.9) | |
| Six months to | June 2023 | (4.7) | (2.0) | (2.0) | (0.8) | (0.8) | (0.1) | (0.4) | – | (0.4) | – | (0.2) |
| Non-cash remuneration (share-based payments) | Dec 2022 | (2.8) | (1.6) | (1.6) | (0.5) | (0.5) | – | (0.1) | – | – | – | (0.8) |
| June 2022 | (4.0) | (1.5) | (1.5) | (0.6) | (0.6) | – | (0.3) | – | (0.2) | (0.1) | (0.1) | |
| Six months to | June 2023 | (24.1) | (21.1) | (21.1) | (3.9) | (2.6) | (1.4) | (3.4) | – | (2.3) | (1.0) | (3.4) |
| Cash remuneration (long-term incentive plan) | Dec 2022 | (17.1) | (12.4) | (12.4) | (1.9) | (1.9) | – | (2.6) | – | (2.0) | (0.5) | (3.8) |
| June 2022 | (11.2) | (11.5) | (11.5) | (2.4) | (2.4) | – | (0.4) | – | (0.1) | (0.3) | (1.6) | |
| Six months to | June 2023 | (15.6) | – | – | – | – | – | – | – | – | – | – |
| Other | Dec 2022 | (10.8) | (3.1) | (3.1) | (4.6) | – | (4.6) | 1.5 | – | 1.5 | – | – |
| June 2022 | (10.9) | (1.5) | (1.5) | – | – | – | (1.5) | – | (1.5) | – | – | |
| Six months to | June 2023 | 116.9 | 116.9 | 116.8 | 114.6 | 114.6 | – | 0.8 | 0.1 | 0.6 | 0.1 | 0.3 |
| By-product credits | Dec 2022 | 100.5 | 100.5 | 100.4 | 98.4 | 98.4 | – | 0.8 | 0.1 | 0.6 | 0.1 | 0.4 |
| June 2022 | 105.4 | 105.4 | 105.2 | 103.2 | 103.2 | – | 0.8 | 0.1 | 0.5 | 0.1 | 0.3 | |
| Six months to | June 2023 | (18.7) | (18.7) | (18.2) | (9.8) | (8.8) | (1.0) | (3.6) | (0.5) | (1.8) | (1.3) | – |
| Rehabilitation amortisation and interest | Dec 2022 | (15.3) | (15.3) | (14.7) | (6.7) | (6.7) | – | (4.6) | (0.7) | (2.6) | (1.3) | – |
| June 2022 | (16.8) | (16.8) | (16.3) | (7.9) | (7.9) | – | (4.5) | (0.5) | (2.5) | (1.6) | – | |
| Six months to | June 2023 | (344.2) | (343.4) | (338.2) | (68.1) | (11.9) | (56.3) | (130.3) | (5.2) | (121.7) | (3.5) | (36.2) |
| Sustaining capital expenditure | Dec 2022 | (319.7) | (318.3) | (315.2) | (29.6) | (18.9) | (10.7) | (133.6) | (3.1) | (108.8) | (21.8) | (45.7) |
| June 2022 | (341.8) | (341.1) | (339.2) | (12.4) | (12.4) | – | (149.9) | (1.8) | (120.2) | (27.9) | (52.7) | |
| Six months to | June 2023 | (46.9) | (45.8) | (45.6) | (2.2) | (1.1) | (1.1) | (16.6) | (0.2) | (12.8) | (3.6) | – |
| Lease payments | Dec 2022 | (44.8) | (43.7) | (41.5) | (1.1) | (1.1) | – | (16.9) | (2.2) | (9.5) | (5.1) | – |
| June 2022 | (47.3) | (46.1) | (41.4) | (1.1) | (1.1) | – | (18.1) | (4.7) | (9.4) | (4.0) | – | |
| Six months to | June 2023 | (1.5) | (1.5) | (1.5) | – | – | – | (1.5) | – | (1.5) | – | – |
| Exploration, feasibility and evaluation costs | Dec 2022 | (3.0) | (3.0) | (3.0) | – | – | – | (3.0) | – | (3.0) | – | – |
| June 2022 | – | – | – | – | – | – | – | – | – | – | – | |
| Six months to | June 2023 | (1,386.6) | (1,363.5) | (1,323.1) | (72.0) | (12.2) | (59.8) | (479.0) | (40.4) | (342.7) | (95.9) | (211.5) |
| AISC | Dec 2022 | (1,240.9) | (1,224.7) | (1,181.8) | (31.7) | (20.9) | (10.7) | (485.1) | (42.8) | (324.5) | (117.8) | (201.6) |
| June 2022 | (1,353.7) | (1,340.1) | (1,281.3) | (19.5) | (19.5) | – | (505.3) | (58.8) | (335.9) | (110.6) | (222.7) | |
| Six months to | June 2023 | – | – | – | – | – | – | – | – | – | – | – |
| Realised gains/(losses) on capital cost hedges | Dec 2022 | (6.3) | (6.3) | (6.3) | (6.3) | – | (6.3) | – | – | – | – | – |
| June 2022 | 1.6 | 1.6 | 1.6 | 1.6 | – | 1.6 | – | – | – | – | – | |
| Six months to | June 2023 | – | – | – | – | – | – | – | – | – | – | – |
| Non-cash remuneration (share-based payments) | Dec 2022 | (0.1) | (0.1) | (0.1) | (0.1) | – | (0.1) | – | – | – | – | – |
| June 2022 | (0.1) | (0.1) | (0.1) | (0.1) | – | (0.1) | – | – | – | – | – | |
| Six months to | June 2023 | – | – | – | – | – | – | – | – | – | – | – |
| Cash remuneration (long-term incentive plan) | Dec 2022 | (0.5) | (0.5) | (0.5) | (0.5) | – | (0.5) | – | – | – | – | – |
| June 2022 | (0.2) | (0.2) | (0.2) | (0.2) | – | (0.2) | – | – | – | – | – | |
| Six months to | June 2023 | – | – | – | – | – | – | – | – | – | – | – |
| Other | Dec 2022 | – | – | – | – | – | – | – | – | – | – | – |
| June 2022 | – | – | – | – | – | – | – | – | – | – | – | |
| Six months to | June 2023 | – | – | – | – | – | – | – | – | – | – | – |
| Lease payments | Dec 2022 | (0.8) | (0.8) | (0.8) | (0.8) | – | (0.8) | – | – | – | – | – |
| June 2022 | (1.8) | (1.8) | (1.8) | (1.8) | – | (1.8) | – | – | – | – | – | |
| Six months to | June 2023 | (37.5) | (36.9) | (35.5) | (17.3) | (2.0) | (15.3) | (4.4) | (1.4) | – | (3.0) | – |
| Exploration, feasibility and evaluation costs | Dec 2022 | (47.7) | (47.5) | (46.4) | (18.5) | (1.5) | (17.0) | (5.4) | (1.0) | – | (4.3) | – |
| June 2022 | (34.2) | (34.3) | (31.4) | (16.6) | (1.3) | (15.2) | (7.7) | (2.9) | – | (4.8) | – | |
| Six months to | June 2023 | (170.7) | (170.7) | (168.5) | (131.5) | (8.2) | (123.3) | (2.2) | (2.2) | – | – | – |
| Non-sustaining capital expenditure | Dec 2022 | (209.6) | (209.6) | (207.6) | (151.7) | (10.8) | (140.9) | (7.2) | (2.0) | – | (5.2) | (9.5) |
| June 2022 | (205.9) | (205.9) | (205.1) | (149.1) | (4.0) | (145.1) | (6.0) | (0.8) | – | (5.2) | (10.8) | |
| Six months to | June 2023 | (1,594.7) | (1,571.1) | (1,527.1) | (220.8) | (22.3) | (198.4) | (485.6) | (44.0) | (342.7) | (98.9) | (211.5) |
| Total AIC | Dec 2022 | (1,505.9) | (1,489.4) | (1,443.5) | (209.5) | (33.2) | (176.4) | (497.7) | (45.9) | (324.5) | (127.3) | (211.1) |
| June 2022 | (1,594.3) | (1,580.8) | (1,518.2) | (185.6) | (24.8) | (160.8) | (519.1) | (62.5) | (335.9) | (120.7) | (233.6) | |
| Six months to | June 2023 | (1,386.6) | (1,363.5) | (1,323.1) | (72.0) | (12.2) | (59.8) | (479.0) | (40.4) | (342.7) | (95.9) | (211.5) |
| Total AISC | Dec 2022 | (1,240.9) | (1,224.7) | (1,181.8) | (31.7) | (20.9) | (10.7) | (485.1) | (42.8) | (324.5) | (117.8) | (201.6) |
| June 2022 | (1,353.7) | (1,340.1) | (1,281.3) | (19.5) | (19.5) | – | (505.3) | (58.8) | (335.9) | (110.6) | (222.7) | |
| Six months to | June 2023 | 1,140.8 | 1,140.8 | 1,110.1 | 72.6 | 72.6 | – | 401.3 | 30.6 | 290.3 | 80.4 | 152.5 |
| Gold only ounces sold – (000 ounces) | Dec 2022 | 1,168.7 | 1,168.7 | 1,132.8 | 68.0 | 68.0 | – | 411.4 | 35.9 | 271.8 | 103.7 | 164.1 |
| June 2022 | 1,179.1 | 1,179.1 | 1,139.5 | 62.5 | 62.5 | – | 422.1 | 39.7 | 257.3 | 125.2 | 163.9 | |
| Six months to | June 2023 | 1,215 | 1,195 | 1,192 | 991 | 168 | – | 1,194 | 1,319 | 1,181 | 1,193 | 1,387 |
| AISC per ounce of gold sold US$/oz | Dec 2022 | 1,062 | 1,048 | 1,043 | 466 | 308 | – | 1,179 | 1,195 | 1,194 | 1,135 | 1,229 |
| June 2022 | 1,148 | 1,137 | 1,125 | 312 | 312 | – | 1,197 | 1,482 | 1,306 | 884 | 1,359 | |
| Six months to | June 2023 | (1,594.7) | (1,571.1) | (1,527.1) | (220.8) | (22.3) | (198.4) | (485.6) | (44.0) | (342.7) | (98.9) | (211.5) |
| Total AIC | Dec 2022 | (1,505.9) | (1,489.4) | (1,443.5) | (209.5) | (33.2) | (176.4) | (497.7) | (45.9) | (324.5) | (127.3) | (211.1) |
| June 2022 | (1,594.3) | (1,580.8) | (1,518.2) | (185.6) | (24.8) | (160.8) | (519.1) | (62.5) | (335.9) | (120.7) | (233.6) | |
| Six months to | Jun 2023 | 1,140.8 | 1,140.8 | 1,110.1 | 72.6 | 72.6 | – | 401.3 | 30.6 | 290.3 | 80.4 | 152.5 |
| Gold only ounces sold – (000 ounces) | Dec 2022 | 1,168.7 | 1,168.7 | 1,132.8 | 68.0 | 68.0 | – | 411.4 | 35.9 | 271.8 | 103.7 | 164.1 |
| June 2022 | 1,179.1 | 1,179.1 | 1,139.5 | 62.5 | 62.5 | – | 422.1 | 39.7 | 257.3 | 125.2 | 163.9 | |
| Six months to | June 2023 | 1,398 | 1,377 | 1,376 | 3,042 | 307 | – | 1,210 | 1,435 | 1,181 | 1,230 | 1,387 |
| AIC per ounce of gold sold US$/oz | Dec 2022 | 1,289 | 1,274 | 1,274 | 3,081 | 487 | – | 1,210 | 1,279 | 1,194 | 1,227 | 1,287 |
| June 2022 | 1,352 | 1,341 | 1,332 | 2,970 | 397 | – | 1,230 | 1,576 | 1,306 | 964 | 1,425 | |
| 1 | The comparatives for Salares Norte have been reclassified from the Corporate and Projects segment. |
| 2 | Includes all-in-cost with no gold sold for Salares Norte as the project is still under construction. |
| United States Dollars | |||||||
| Australia Region |
Corporate and projects |
||||||
| Australia | |||||||
| Figures in millions unless otherwise stated | Total | Agnew | St Ives | Granny Smith |
Gruyere 50% |
||
| Six months to | June 2023 | (422.9) | (97.3) | (157.6) | (112.5) | (55.5) | – |
|---|---|---|---|---|---|---|---|
| Cost of sales before gold inventory change and amortisation and depreciation | Dec 2022 | (391.2) | (89.5) | (146.4) | (96.3) | (59.0) | – |
| June 2022 | (386.0) | (93.6) | (127.6) | (108.0) | (56.8) | – | |
| Six months to | June 2023 | (1.9) | 1.1 | (0.7) | 0.4 | (2.6) | – |
| Gold inventory change | Dec 2022 | 44.5 | 1.6 | 35.0 | (1.2) | 9.1 | – |
| June 2022 | (23.1) | (2.8) | (29.0) | 2.5 | 6.1 | – | |
| Six months to | June 2023 | (25.3) | (5.5) | (9.3) | (6.7) | (3.9) | – |
| Royalties | Dec 2022 | (21.8) | (4.9) | (7.5) | (6.3) | (3.2) | – |
| June 2022 | (25.0) | (5.7) | (9.0) | (6.5) | (3.8) | – | |
| Six months to | June 2023 | – | – | – | – | – | – |
| Realised gains/losses on commodity cost hedges | Dec 2022 | 4.8 | 1.1 | 2.1 | 1.4 | 0.2 | – |
| June 2022 | 5.4 | 1.2 | 2.4 | 1.6 | 0.2 | – | |
| Six months to | June 2023 | – | – | – | – | – | – |
| Community/social responsibility costs |
Dec 2022 | – | – | – | – | – | – |
| June 2022 | – | – | – | – | – | – | |
| Six months to | June 2023 | (0.5) | (0.2) | (0.1) | (0.2) | (0.1) | (2.7) |
| Non-cash remuneration – share-based payments | Dec 2022 | (0.2) | (0.1) | – | (0.1) | – | (1.2) |
| June 2022 | (0.5) | (0.1) | (0.1) | (0.2) | (0.1) | (2.5) | |
| Six months to | June 2023 | (10.5) | (2.3) | (3.8) | (3.3) | (1.1) | (3.0) |
| Cash remuneration (long-term incentive plan) | Dec 2022 | (4.2) | (1.0) | (1.5) | (1.2) | (0.5) | (4.7) |
| June 2022 | (7.2) | (1.5) | (2.7) | (1.9) | (1.0) | 0.3 | |
| Six months to | June 2023 | – | – | – | – | – | (15.6) |
| Other | Dec 2022 | – | – | – | – | – | (7.8) |
| June 2022 | – | – | – | – | – | (9.4) | |
| Six months to | June 2023 | 1.1 | 0.2 | 0.5 | 0.1 | 0.4 | – |
| By-product credits | Dec 2022 | 0.9 | 0.2 | 0.3 | 0.1 | 0.4 | – |
| June 2022 | 1.1 | 0.2 | 0.5 | 0.1 | 0.3 | – | |
| Six months to | June 2023 | (5.3) | (0.9) | (2.2) | (1.3) | (0.9) | – |
| Rehabilitation amortisation and interest |
Dec 2022 | (4.0) | (0.7) | (1.5) | (1.1) | (0.8) | – |
| June 2022 | (4.4) | (0.8) | (1.6) | (1.2) | (0.9) | – | |
| Six months to | June 2023 | (108.8) | (25.0) | (39.4) | (26.4) | (18.0) | (0.7) |
| Sustaining capital expenditure | Dec 2022 | (109.4) | (23.4) | (32.1) | (36.7) | (17.1) | (1.5) |
| June 2022 | (126.1) | (30.9) | (55.3) | (24.0) | (15.9) | (0.7) | |
| Six months to | June 2023 | (27.0) | (9.8) | (5.3) | (6.2) | (5.7) | (1.1) |
| Lease payments | Dec 2022 | (25.8) | (9.3) | (5.3) | (5.8) | (5.4) | (1.1) |
| June 2022 | (26.8) | (9.6) | (4.8) | (7.1) | (5.3) | (1.2) | |
| Six months to | June 2023 | – | – | – | – | – | – |
| Exploration, feasibility and evaluation costs |
Dec 2022 | – | – | – | – | – | – |
| June 2022 | – | – | – | – | – | – | |
| Six months to | June 2023 | (601.1) | (139.6) | (217.9) | (156.1) | (87.5) | (23.1) |
| AISC | Dec 2022 | (506.4) | (126.1) | (156.7) | (147.2) | (76.4) | (16.2) |
| June 2022 | (592.6) | (143.7) | (227.2) | (144.7) | (77.0) | (13.6) | |
| Six months to | June 2023 | – | – | – | – | – | – |
| Realised gains/losses on capital cost hedges | Dec 2022 | – | – | – | – | – | – |
| June 2022 | – | – | – | – | – | – | |
| Six months to | June 2023 | – | – | – | – | – | – |
| Non-cash remuneration (share-based payments) | Dec 2022 | – | – | – | – | – | – |
| June 2022 | – | – | – | – | – | – | |
| Six months to | June 2023 | – | – | – | – | – | – |
| Cash remuneration (long-term incentive plan) | Dec 2022 | – | – | – | – | – | – |
| June 2022 | – | – | – | – | – | – | |
| Six months to | June 2023 | – | – | – | – | – | – |
| Other | Dec 2022 | – | – | – | – | – | – |
| June 2022 | – | – | – | – | – | – | |
| Six months to | June 2023 | – | – | ||||
| Lease payments | Dec 2022 | – | – | – | – | – | |
| June 2022 | – | – | – | – | – | – | |
| Six months to | June 2023 | (15.1) | (3.7) | (7.9) | (1.9) | (1.7) | (0.6) |
| Exploration, feasibility and evaluation costs | Dec 2022 | (23.6) | (7.9) | (9.7) | (4.4) | (1.6) | (0.3) |
| June 2022 | (10.0) | (1.5) | (5.1) | (3.2) | (0.1) | – | |
| Six months to | June 2023 | (37.0) | (12.1) | (9.1) | (15.8) | – | – |
| Non-sustaining capital expenditure | Dec 2022 | (41.2) | (12.2) | (9.3) | (19.6) | – | – |
| June 2022 | (39.9) | (18.5) | (4.0) | (17.4) | – | – | |
| Six months to | June 2023 | (653.3) | (155.4) | (234.9) | (173.8) | (89.2) | (23.7) |
| Total AIC | Dec 2022 | (571.1) | (146.3) | (175.7) | (171.2) | (78.0) | (16.5) |
| June 2022 | (642.5) | (163.7) | (236.4) | (165.3) | (77.1) | (13.6) | |
| Six months to | June 2023 | (601.1) | (139.6) | (217.9) | (156.1) | (87.5) | (23.1) |
| Total AISC | Dec 2022 | (506.4) | (126.1) | (156.7) | (147.2) | (76.4) | (16.2) |
| June 2022 | (592.6) | (143.7) | (227.2) | (144.7) | (77.0) | (13.6) | |
| Six months to | June 2023 | 514.4 | 112.8 | 187.1 | 134.4 | 80.1 | – |
| Gold only ounces sold – (000 ounces) | Dec 2022 | 525.2 | 117.7 | 181.5 | 149.1 | 76.8 | – |
| June 2022 | 530.6 | 121.0 | 191.7 | 138.3 | 79.6 | – | |
| Six months to | June 2023 | 1,169 | 1,238 | 1,165 | 1,161 | 1,092 | – |
| AISC per ounce of gold sold US$/oz | Dec 2022 | 964 | 1,071 | 863 | 987 | 994 | – |
| June 2022 | 1,117 | 1,188 | 1,185 | 1,047 | 967 | – | |
| Six months to | June 2023 | (653.3) | (155.4) | (234.9) | (173.8) | (89.2) | (23.7) |
| Total AIC | Dec 2022 | (571.1) | (146.3) | (175.7) | (171.2) | (78.0) | (16.5) |
| June 2022 | (642.5) | (163.7) | (236.4) | (165.3) | (77.1) | (13.6) | |
| Six months to | June 2023 | 514.4 | 112.8 | 187.1 | 134.4 | 80.1 | – |
| Gold only ounces sold – (000 ounces) | Dec 2022 | 525.2 | 117.7 | 181.5 | 149.1 | 76.8 | – |
| June 2022 | 530.6 | 121.0 | 191.7 | 138.3 | 79.6 | – | |
| Six months to | June 2023 | 1,270 | 1,377 | 1,256 | 1,293 | 1,114 | – |
| AIC per ounce of gold sold US$/oz | Dec 2022 | 1,087 | 1,242 | 968 | 1,148 | 1,015 | – |
| June 2022 | 1,211 | 1,353 | 1,233 | 1,196 | 969 | – | |