Logo
Media release iconMedia release
Reviewed Results | Year ended 31 December 2022

Operating results Segmental Operating and Financial Results

     United States Dollars
      Total  
Mine  
Operations  
and projects  
Including  
Equity-  
Accounted  
Joint Venture  
Total 
Mine 
Operations 
and projects 
Excluding 
Equity- 
Accounted 
Joint Venture 
South
Africa
Region
West Africa
Region
South America Region
         Ghana Peru  Chile 
Figures in millions unless otherwise stated  South 
Deep 
Total  Tarkwa   Damang  Asanko 
45% 
Cerro 
Corona 
Salares  
Norte  
Project1
Operating results (Unreviewed)                              
Ore milled/treated (000 tonnes) Year 2022  42,199   39,576  2,985  21,423  14,016   4,784  2,623  6,721   
Year 2021  42,229   39,559  2,922  21,266  13,877   4,720  2,670  6,817  – 
Yield (grams per tonne) Year 2022  1.8   1.9  3.4  1.2  1.2   1.5  0.9  1.2   
Year 2021  1.8   1.8  3.1  1.3  1.2   1.7  1.1  1.1  – 
Gold produced (000 managed equivalent ounces) Year 2022  2,487.8   2,411.1  327.9  838.3  531.6   230.0  76.7  260.5   
Year 2021  2,430.1   2,335.5  292.6  870.7  521.7   254.4  94.6  248.3  – 
Gold produced (000 attributable equivalent ounces) Year 2022  2,398.6   2,322.0  316.2  762.1  478.4   207.0  76.7  259.2   
Year 2021  2,340.8   2,246.2  282.2  793.1  469.5   229.0  94.6  247.0  – 
Gold sold (000 managed equivalent ounces) Year 2022  2,477.4   2,401.9  327.9  833.5  529.1   228.9  75.5  260.1   
Year 2021  2,436.3   2,339.1  292.6  873.3  521.7   254.4  97.2  248.4  – 
Gold price received (dollar per equivalent ounce) Year 2022  1,784   1,785  1,793  1,802  1,803   1,812  1,770  1,671   
Year 2021  1,793   1,794  1,790  1,794  1,796   1,798  1,770  1,750  – 
Cost of sales before gold inventory change and amortisation and depreciation (dollar per tonne) Year 2022   47    49  109  31  29   40  28  33   
Year 2021   45    45  107  32  24   47  43  28  – 
All-in sustaining costs (dollar per ounce) Year 2022  1,088   1,079  1,294  1,188  1,248   998  1,346  310   
Year 2021  1,049   1,032  1,310  1,083  1,155   802  1,431  (34) – 
Total all-in cost (dollar per ounce) Year 2022  1,164   1,155  1,356  1,220  1,248   1,083  1,435  444   
Year 2021  1,118   1,098  1,379  1,112  1,155   852  1,559  230  – 
Financial results (US$ millions) (Reviewed)                              
Revenue  Year 2022  4,420.4   4,286.7  587.9  1,502.3  953.8   414.8  133.7  434.7   
Year 2021  4,367.3   4,195.2  523.8  1,566.5  936.9   457.5  172.1  434.8  – 
Cost of sales before amortisation and depreciation  Year 2022  (1,845.6)  (1,763.4) (313.9) (605.7) (371.4)  (152.2) (82.2) (175.4) 5.1 
Year 2021  (1,772.1)  (1,661.6) (304.9) (570.7) (310.2)  (150.1) (110.4) (175.6) – 
Cost of sales before gold inventory change and amortisation and depreciation  Year 2022  (2,004.3)  (1,931.5) (324.6) (673.0) (406.9)  (193.3) (72.8) (224.9)  (4.6)
Year 2021  (1,899.4)  (1,784.4) (312.2) (676.7) (339.7)  (222.0) (115.0) (190.0) – 
– Gold inventory change  Year 2022  158.7   168.1  10.7  67.3  35.6   41.1   (9.4) 49.6  9.7 
Year 2021  127.4   122.8  7.3  106.0  29.6   71.9  4.6  14.4  – 
Amortisation of mining assets  Year 2022  (839.9)  (829.3) (51.8) (328.3) (220.6)  (97.1) (10.6) (125.6)  (6.4)
Year 2021  (718.1)  (695.8) (43.0) (287.2) (172.3)  (92.6) (22.3) (88.3) – 
Other expenses  Year 2022  (136.7)  (121.3)  (3.7) (34.3)  (8.0)  (10.8) (15.4) (21.5) (30.2)
Year 2021  (265.4)  (261.7)  (5.9) (28.8)  (9.3)  (15.8)  (3.7) (51.9) (97.1)
Profit/(loss) before royalties and taxation  Year 2022  1,598.2   1,572.7  218.5  534.0  353.8   154.7  25.5  112.1  (31.5)
Year 2021  1,611.8   1,576.1  170.0  679.8  445.1   199.0  35.6  119.0  (97.1)
Royalties, mining and income taxation  Year 2022  (465.8)  (459.2) (72.0) (117.2) (48.2)  (62.3)  (6.7) (18.7) 8.2 
Year 2021  (536.0)  (527.4) (54.4) (251.9) (160.7)  (82.6)  (8.6) (62.5) 84.8 
– Normal taxation  Year 2022  (390.9)  (390.9)   (164.2) (110.6)  (53.6)   (43.4)  (1.1)
Year 2021  (420.5)  (420.5) –  (191.4) (110.3)  (81.1) –  (61.2)  (1.9)
– Royalties  Year 2022  (117.1)  (110.4)  (2.9) (61.4) (38.2)  (16.6)  (6.7)  (5.9)  
Year 2021  (121.0)  (112.4)  (2.6) (64.4) (37.5)  (18.3)  (8.6)  (8.0) – 
– Deferred taxation  Year 2022  42.1   42.1  (69.0) 108.4  100.5   7.9    30.6  9.3 
Year 2021  5.6   5.6  (51.8) 3.8  (13.0)  16.8  –  6.7  86.7 
Profit/(loss) before non-recurring items  Year 2022  1,132.4   1,113.6  146.5  416.7  305.6   92.4  18.8  93.4  (23.3)
Year 2021  1,075.8   1,048.8  115.6  427.9  284.4   116.4  27.0  56.5  (12.3)
Non-recurring items  Year 2022  (403.8)2 (403.8)2 0.2  (345.1) (338.3)2  (6.7)   (65.5)2  (0.6)
Year 2021  (57.5)  (57.5)  (1.1) (42.4) (24.7)  (17.7) –   (1.6) – 
Net profit/(loss) Year 2022  728.5   709.7  146.7  71.7  (32.8)  85.7  18.8  27.9  (23.9)
Year 2021  1,018.3   991.2  114.5  385.5  259.8   98.7  27.0  54.8  (12.3)
Capital expenditure  Year 2022  (1,074.8)  (1,067.0) (118.7) (296.8) (229.0)  (60.1)  (7.7) (46.0) (296.7)
Year 2021  (1,108.5)  (1,088.0) (89.3) (252.9) (209.0)  (23.4) (20.5) (55.7) (374.9)

The average US Dollar/Rand exchange rates were US$1 = R16.37 for 2022 and US$1 = R14.79 for 2021.
The average Australian/US Dollar exchange rates were A$1 = US$0.69 for 2022 and A$1 = US$0.75 for 2021.

1 In 2021 Salares Norte became a reportable segment, as the COM has started monitoring the capital expenditure and progress toward completion.
2 Non-recurring items consist mainly out of impairments raised on the Tarkwa (US$325m) and Cerro Corona (US$63m) cash generating units (CGUs).

Figures may not add as they are rounded independently.

      United States Dollars 
      United States Dollars Australian Dollars South
African
Rand
      Australia
Region
Australia
Region2
South
Africa
Region3
Figures in millions unless otherwise stated    Total  St Ives  Agnew  Granny 
Smith 
Gruyere 
50% 
Total  St Ives  Agnew  Granny 
Smith 
Gruyere 
50% 
South 
Deep 
Operating results (Unreviewed)                                    
Ore milled/treated (000 tonnes) Year 2022  11,071  3,857  1,198  1,583  4,432  11,071  3,857  1,198  1,583  4,432  2,985 
Year 2021  11,223  4,088  1,254  1,662  4,219  11,223  4,088  1,254  1,662  4,219  2,922 
Yield (grams per tonne) Year 2022  3.0  3.0  6.2  5.7  1.1  3.0  3.0  6.2  5.7  1.1  3.4 
Year 2021  2.8  3.0  5.5  5.2  0.9  2.8  3.0  5.5  5.2  0.9  3.1 
Gold produced (000 managed equivalent ounces) Year 2022  1,061.1  376.7  239.2  287.9  157.3  1,061.1  376.7  239.2  287.9  157.3  10,200 
Year 2021  1,018.5  393.0  223.0  279.2  123.3  1,018.5  393.0  223.0  279.2  123.3  9,102 
Gold produced (000 attributable equivalent ounces) Year 2022  1,061.1  376.7  239.2  287.9  157.3  1,061.1  376.7  239.2  287.9  157.3  9,836 
Year 2021  1,018.5  393.0  223.0  279.2  123.3  1,018.5  393.0  223.0  279.2  123.3  8,776 
Gold sold (000 managed equivalent ounces) Year 2022  1,055.8  373.2  238.7  287.4  156.4  1,055.8  373.2  238.7  287.4  156.4  10,200 
Year 2021  1,021.9  391.1  222.8  283.6  124.4  1,021.9  391.1  222.8  283.6  124.4  9,102 
Gold price received (dollar per equivalent ounce) Year 2022  1,795  1,797  1,793  1,793  1,800  2,592  2,595  2,588  2,588  2,598  943,581 
Year 2021  1,803  1,804  1,804  1,800  1,804  2,400  2,401  2,402  2,396  2,401  851,102 
Cost of sales before gold inventory change and amortisation and depreciation (dollar per tonne) Year 2022  70  71  153  129  26  101  103  220  186  38  1,780 
Year 2021  64  66  134  115  22  85  87  179  153  29  1,580 
All-in sustaining costs
(dollar per ounce)
Year 2022  1,041  1,029  1,130  1,016  980  1,503  1,485  1,632  1,466  1,415  680,931 
Year 2021  1,065  1,006  1,164  1,033  1,146  1,418  1,339  1,550  1,376  1,525  622,726 
Total all-in cost
(dollar per ounce)
Year 2022  1,150  1,104  1,298  1,171  991  1,659  1,594  1,875  1,691  1,431  713,624 
Year 2021  1,146  1,040  1,308  1,161  1,158  1,526  1,385  1,741  1,545  1,541  655,826 
Financial results (US$ millions) (Reviewed)
Revenue  Year 2022  1,895.5  670.9  427.9  515.2  281.5  2,736.2  968.4  617.7  743.7  406.4  9,624.6 
Year 2021  1,842.3  705.5  402.0  510.4  224.4  2,452.5  939.2  535.1  679.5  298.7  7,746.7 
Cost of sales before amortisation and depreciation  Year 2022  (755.8) (268.0) (184.2) (203.0) (100.5) (1,091.1) (386.8) (266.0) (293.1) (145.2) (5,138.4)
Year 2021  (720.8) (273.5) (172.6) (193.5) (81.3) (959.6) (364.1) (229.7) (257.6) (108.2) (4,510.0)
Cost of sales before gold inventory change and amortisation and depreciation  Year 2022  (777.2) (274.0) (183.0) (204.4) (115.8) (1,122.0) (395.6) (264.2) (295.0) (167.1) (5,313.6)
Year 2021  (720.5) (268.4) (168.2) (191.3) (92.5) (959.2) (357.3) (224.0) (254.7) (123.2) (4,617.5)
– Gold inventory change  Year 2022  21.4  6.1  (1.2) 1.3  15.2  30.9  8.8  (1.7) 1.9  22.0  175.3 
Year 2021  (0.3) (5.1) (4.3) (2.1) 11.3  (0.4) (6.8) (5.8) (2.8) 15.0  107.5 
Amortisation of mining assets  Year 2022  (327.7)             (473.0)             (848.1)
Year 2021  (299.6)             (398.9)             (635.8)
Other expenses  Year 2022  (46.9)             (67.8)             (61.1)
Year 2021  (81.7)             (108.8)             (87.0)
Profit/(loss) before royalties and taxation  Year 2022  765.1              1,104.4              3,577.1 
Year 2021  740.2              985.2              2,513.8 
Royalties, mining and income taxation  Year 2022  (266.1)             (384.2)             (1,178.1)
Year 2021  (252.0)             (335.4)             (804.7)
– Normal taxation  Year 2022  (182.2)             (263.0)              
Year 2021  (166.1)             (221.1)             – 
– Royalties  Year 2022  (46.8)             (67.6)             (48.1)
Year 2021  (46.0)             (61.3)             (38.7)
– Deferred taxation  Year 2022  (37.1)             (53.6)             (1,130.0)
Year 2021  (39.9)             (53.1)             (765.9)
Profit/(loss) before non-recurring items  Year 2022  498.9              720.2              2,399.0 
Year 2021  488.2              649.7              1,709.2 
Non-recurring items  Year 2022  7.2              10.4              2.9 
Year 2021  (12.4)             (16.5)             (15.8)
Net profit/(loss) Year 2022  506.1              730.5              2,401.8 
Year 2021  475.8              633.2              1,693.4 
Capital expenditure  Year 2022  (316.6) (100.7) (85.1) (97.8) (33.0) (457.0) (145.5) (122.8) (141.1) (47.6) (1,943.3)
Year 2021  (335.6) (103.3) (88.2) (100.4) (43.7) (446.8) (137.6) (117.4) (133.7) (58.2) (1,320.4)

At the Australian operations, as a significant portion of the acquisition price was allocated to tenements on endowment ounces and also as the Australian operations are entitled to transfer and then offset tax losses from one Company to another, it is not meaningful to split the income statement below cost of sales.

2 For Australia, all financial numbers are in Australian Dollar.
3 For South Africa, all financial numbers are in Rand and Rand per kilogram.

Figures may not add as they are rounded independently.