AngloGold Ashanti plc
AngloGold Ashanti plc is a globally diversified senior gold producer, redomiciled to the UK (LSE/NYSE/JSE-listed) in 2025, with a portfolio streamlined to 9 operating assets after divesting Serra Grande (Brazil, Dec 2025) and Doropo. In Mar 2026 the company also reported a first-time 4.9 Moz Probable Mineral Reserve at the Arthur Gold Project in Nevada, USA, with a positive PFS. Alberto Calderon has been CEO since Sep 2021; Gillian Doran is CFO (Executive Director). Year-end 2025 gold Mineral Reserves were 36.5 million ounces (up from 31.2 Moz in 2024), calculated at a $1,700/oz gold price assumption.
Notable vs. Peers
- Jurisdiction risk score of 6/10 is meaningfully riskier than the peer average of 7.8/10.
Lifecycle Milestones
Construction Milestones
5 of 5 reached- Reached — date not disclosed · Source
- Reached — date not disclosed · Source
- Jan 2018 · Source
- Dec 2021 · Source
- Reached — date not disclosed · Source
Milestones are recorded only from a company's own dated disclosure. A milestone with no date shown is one we can confirm was reached but for which no date was disclosed — we don't estimate one. "Not yet reached" means exactly that, not that a date is missing. An "Expected" line likewise only ever reflects the company's own guidance (e.g. a study or permit decision targeted for a stated quarter) — most not-yet-reached milestones have none, and that absence means no such guidance has been disclosed, not that one is overdue.
Not in place: grid power. Not yet determined: road access.
Not in place: grid power. Not yet determined: road access.
Combined view across 4 projects. Figures below are only combined where the underlying basis genuinely matches -- see the notes under each.
- 14 yrsGeita
- 6 yrsTropicana
- 8 yrsSunrise Dam
- 20 yrsObuasi
Jurisdiction (40%)6/10
AngloGold Ashanti runs a diversified portfolio across Tanzania, Ghana, Australia, Brazil, Guinea, Egypt and the DRC. The rating is anchored to Tanzania, home of its largest producing asset, Geita; its Ghana and DRC operations carry higher risk and its Australian mines lower.
Infrastructure (40%)10/10
A confirmed mill, confirmed road access, confirmed grid power, and a confirmed tailings facility at Geita.
Nearby producing mine (20%)9.2/10
Buckreef (TRX Gold Corporation) is 32 km away -- within regional-platform range.
Acquisition Susceptibility
A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal in the research, a producer that already owns part of the company, is scored from its disclosed strategic shareholders. A producer that is a joint-venture or earn-in partner on the project, rather than a shareholder, isn't captured yet.
How this score is built
- Disclosed pending dealSub-score: Not scored
No pending acquisition or merger disclosed (checked)
Not scored: having no deal in flight isn't held against a company.
Weight 26.25% - Producer's strategic stakeSub-score: Not scored
No producer holds a disclosed stake on file (holder register researched) See holders
Not scored: most juniors that do get bought had no prior toehold, so a missing stake says little either way.
Weight 25% - Distance to a producing mineSub-score:6.8/10
Nearest producing mine: Buckreef (TRX Gold Corporation), 32 km
10 next to a producing mine, 8 at 20 km, 5 at 50 km, 0 beyond 200 km.
Weight 22.5% · 46% here - Lifecycle stageSub-score:5.5/10
Stage: Production
Feasibility and permitting score 10, where deals cluster, and production 5.5; earlier stages score less, down to 1 at grassroots.
Weight 15% · 31% here - JurisdictionSub-score:6/10
Tanzania: jurisdiction score 6/10
Our jurisdiction score, used as is: higher means lower political and permitting risk.
Weight 6.75% · 14% here - CommoditySub-score:10/10
Primary commodity: Gold
Gold 10, copper 8, silver 5, nickel and uranium 4, others 2: most majors' deals are for gold.
Weight 4.5% · 9% here
Weight is each input's share of the full score. “Here” is its share of this company's score: inputs that aren't scored are left out and the rest re-weighted, never counted as zero.
Your Rankings
Management Team
Chief Executive Officer and Executive Director of AngloGold Ashanti plc since 1 Sep 2021. Before AngloGold, CEO of Orica Limited (2015-2021); before that, senior executive roles at BHP Billiton (2006-2013, culminating in Group Executive & CEO Aluminium, Nickel and Corporate Development); CEO of Cerrejón Coal Company (2002-2006); and President of Ecopetrol S.A. (1999-2002). Also held senior leadership positions in the IMF and the Colombian government earlier in his career.
Chief Financial Officer and Executive Director of AngloGold Ashanti plc, joined 1 Jan 2023. Before AngloGold, spent 15 years at Rio Tinto in senior finance roles across operations, regional business units and group headquarters, most recently as CFO of Rio Tinto's global aluminium division.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
Not scored. Smart-money tracking covers companies below about US$5B in market cap, where a single specialist fund or strategic investor taking a stake is a meaningful signal. This company was above that size when it was assessed.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
AngloGold Ashanti's assets include Geita in Tanzania, Tropicana (70%) and Sunrise Dam in Australia, Obuasi in Ghana, Iduapriem, Siguiri and Cerro Vanguardia, and the Arthur project in Nevada, where it declared a first reserve of 4.9 Moz in March 2026. Its 31 Dec 2025 statement reports 36.47 Moz of gold reserves and, separately, 68.01 Moz of measured and indicated resources. After the sale of the La Colosa project in Colombia, completed on 13 April 2026, which held 23.35 Moz of indicated resource, the company-wide total shown here is 81.1 Moz.