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