David Noko

Changing Relationships – Shifting Boundaries

2

AngloGold Ashanti at a glance

The shared value imperative

Our success as a country is shaped by the progress of our people.

Our success as an industry is intertwined with the success of our employees.

We therefore all have a stake in achieving solutions with mutual benefit.

Key challenges we face

From a business lens…

• Mining is cyclical in nature – we have come through the longest bullish run in recent history and commodity prices are subdued.

• A tight capital environment with increased costs of doing business and more difficult mining conditions.

• Regulatory and policy uncertainty.

• Low investor sentiment towards South Africa.

From an employee lens…

• We work hard and in dangerous conditions, yet have not benefitted from the fruits of our labour.

• The rich become richer, while we become poorer.

• We have no certainty in tomorrow.

• We do not have the means to invest in the future of our children.

A tale of two cities

VS.

The issue in focus

Both positions are valid…. Yet our approach is transactional.

The outcomes are a winner and a loser, or we seek trade offs.

Each stakeholder sees their own perspective....

....resulting in a zero sum game.

A new approach

What we need to do - principles

• Build on the foundations created.

• Positive engagement establishing trust – underpinned by the philosophies of respect, maintaining human dignity and mutual benefit.

• Seek to increase the size of the pie – rather than fighting for share of a diminishing one.

• Utilising knowledge and technology to drive progress and competitiveness AND as a catalyst for development.

• Accelerating collaboration for maximum impact – leveraging off opportunities.

We have come a long way as an industry....

.... recognising that there is still work to be done.

Bold ideas• Build human capability and shift from manual

labour to knowledge work.

• Address the dire and depressing circumstances of labour sourcing areas vs. the “gold plated streets” of capital sourcing areas.

• Innovate our shift approach to migrant labour – a fly-in fly-out solution.

• Employment creation through skills development and alternative livelihoods – across the value chain.

• Promote open source innovation and technologies.

• Create new capabilities and revenue streams in the management of waste.

Thank you