AngloGold Ashanti holds 6.5 percent of the global gold market share. The company engages in the exploitation of mining sites in Argentina, Australia, Brazil, Guinea, and South Africa, among others. Operations include the exploration of gold, silver, and oxide uranium sites. At present, AngloGold Ashanti is listed under different trading symbols on the security exchanges. The company shares are listed under the symbol AU on the New York Stock Exchange, AGD on the London Stock Exchange, and AGG on the Australian Securities Exchange, among others. AngloGold Ashanti is a Tier I gold producer.
The company was originally established in South Africa in 1944 under the name Vaal Reefs Exploration and Mining Limited. AngloGold Ashanti started operations in 1998 after the consolidation of the Anglo American Corporation of South Africa Limited and associated companies such as Eastvaal, Southvaal, Freegold, and Joel, among others. Between 1998 and 2003 the company acquired shares in Minorco, Arcadia Resources, OroAfrica and CerroVangardia SA. The merger between AngloGold and Ashanti Goldfields Company Limited was completed in April 2004. In 2008, the shareholders of Golden Cycle Gold Corporation (GCGC) approved a merger with AngloGold. The mining giant purchased GCGC shares amounting to $149 million. In 2009, the company formed an alliance with Thani Dubai Mining Limited with the aim to operate mining sites in North Africa and the Middle East.
The company operates seven gold mines in South Africa and produces a total of 2.3 million ounces. The gold is used for the production of decorative items, dentistry, jewellery, electronic appliances, and coins.
The Mponeng, Savuka, and TauTona mines in South Africa produce more than one million ounces of gold. The AngloGold Vaal River consists of four gold production facilities, one uranium facility, and one sulphuric acid plant. The Vaal River site produces more than 1.2 million ounces of gold. The eight mining sites that operate in other African states deliver 1.7 million ounces. AngloGold Ashanti operates two mining sites in Brazil and one mining facility in Argentina. Their total output is 0.6 million ounces. The mining site in Australia also delivers 0.6 ounces. Finally, the US-based mine produces 0.3 million ounces.