Report on Form 6-K dated August 21, 2017

Commission File Number 1-14846

AngloGold Ashanti Limited

(Name of registrant)

76 Rahima Moosa Street

Newtown, 2001

(P.O. Box 62117, Marshalltown, 2107)

South Africa

(Address of principal executive offices)

Form 20-F X           Form 40-F

Yes

Yes

Yes

Enclosure: Press release ANGLOGOLD ASHANTI REPORT FOR THE SIX MONTHS ENDED 30 JUNE 2017

AngloGold Ashanti Limited

(Incorporated in the Republic of South Africa)

Reg. No. 1944/017354/06

ISIN. ZAE000043485 JSE share code: ANG

CUSIP: 035128206 NYSE share code: AU

Produced

- oz (000)

1,745

3,628

Sold

- oz (000)

1,747

3,590

Gold income

- $m

1,960

4,085

Cost of sales

- $m

1,501

3,263

Total cash costs

- $m

1,112

2,435

Gross profit

- $m

429

841

Price received *

- $/oz

1,222

1,249

All-in sustaining costs *

- $/oz

911

986

All-in costs *

- $/oz

982

1,071

Total cash costs *

- $/oz

706

744

(Loss) profit attributable to equity shareholders

- $m

52

63

- cents/share

13

15

Headline (loss) earnings

- $m

93

111

- cents/share

23

27

Adjusted headline (loss) earnings *

- $m

159

143

- cents/share

39

35

Net cash flow from operating activities

- $m

476

1,186

Free cash (outflow) inflow *

- $m

108

278

Total borrowings

- $m

2,654

2,178

Net debt *

- $m

2,098

1,916

Capital expenditure

- $m

318

811

(10)

15

31

35

(98)

1

14

16

19

(21)

Kopanang

(6)

14

26

28

(11)

Moab Khotsong

3

14

13

16

(9)

(24)

15

54

60

(94)

Mponeng

(18)

16

43

51

(47)

TauTona

(33)

15

74

76

(47)

(1)

20

20

22

17

First Uranium SA

9

24

11

17

29

Surface Operations

(11)

16

31

29

(12)

-

-

-

-

-

4

14

13

5

(31)

7

21

14

4

(35)

11

33

32

8

(23)

8

(8)

8

(9)

18

Obuasi

(33)

(150)

-

548

4

25

46

(4)

1

5

(3)

(7)

11

3

1

Sadiola - Attr. 41% ⁴

(14)

(9)

8

4

(3)

-

20

23

12

(36)

1

2

(2)

6

(4)

10

(5)

6

15

14

(13)

Tropicana - Attr. 70%

8

(10)

1

(18)

24

Exploration and other

(1)

1

16

18

13

(6)

2

16

9

(10)

11

5

18

20

21

(5)

Serra Grande

(11)

16

38

50

(15)

3

-

18

13

200

1

15

(128)

Equity accounted investments included above

23

25

14

(104)

Refer to note C under "Non-GAAP disclosure" for definition

Refer to note D under "Non-GAAP disclosure" for definition

Variance June 2017 six months on June 2016 six months - increase (decrease).

Equity accounted joint ventures.

AngloGold Ashanti delivered a solid first half ended 30 June 2017, reflecting a strong and safe operating recovery in the second quarter
from the first quarter of the year, particularly at its core South African operations. New safety benchmarks were set, with the company
recording three, consecutive fatality-free quarters for the first time in its history. The Company remains on track to meet full-year cost and
production guidance provided at the beginning of the year in addition to advancing key brownfield projects that aim to improve mine lives
and margins.

AngloGold Ashanti has continued its strategic focus on generating free cash flow on a sustainable basis, while ensuring it maintains
appropriate balance sheet flexibility. Having delivered significant achievements in improving its cost structure, balance sheet and portfolio
mix, the Company's management will continue to work to strengthen the foundation of the business by unlocking value at its existing
assets. The execution of its slate of high- return projects with relatively low capital expenditure and attractive payback periods will become
the next source of improved cash flows and portfolio quality enhancements.

“We saw an exceptionally strong operational recovery in the second quarter after a slow start to the year, and we achieved that whilst setting
new safety benchmarks across our portfolio,” Chief Executive Officer Srinivasan Venkatakrishnan said. “Our brownfield projects are on
budget and on schedule, and we are working diligently to maintain this strong momentum through the rest of the year. We continue to focus
on our long-term strategy of improving the underlying quality of our portfolio through investment in high-return projects and removal of loss-
making ounces.”

Production was 1.748Moz at a total cash cost of $796/oz for the six months ended 30 June 2017, compared to 1.745Moz at $706/oz in the
first six months of 2016. Notably, total cash costs in the second quarter of the year improved to $781/oz compared to $813/oz in the first
quarter, as production over that period rose 11% to 918,000oz, from 830,000oz.

Lower grades and the slow production start to the year from the South African operations were offset by another strong performance from
the International operations, with a notable improvement from Siguiri where higher grades helped drive a 25% increase in production.
Iduapriem, Kibali, Tropicana and AGA Mineração also reported solid performances in the first half of the year. The stronger South African
rand and Brazilian real continued to weigh on margins, while the planned increase in capital expenditure on the brownfield project portfolio
also contributed to the higher AISC. The rand and real were both 14% stronger versus the dollar in the first half of 2017 compared with the
first half of last year, while the gold price was only 1% higher.

AISC increased by $160/oz, or 18%, from $911/oz in the six months ended 30 June 2016 to $1,071/oz in the six months ended 30 June
2017. Nonetheless, work is continuing across the portfolio to assess opportunities to reduce and/or prioritise capital spend across the group.

Cash inflow from operating activities decreased by $155m, or 33%, from $476m for the six months ended 30 June 2016 to $321m in the six
months ended 30 June 2017, reflecting higher operating costs and negative working capital movements, partially offset by a 1% increase in
the gold price and a 2% increase in gold sales.

The free cash outflow for the six months ended 30 June 2017 was $161m ($119m outflow in the first quarter alone), with higher capital
expenditure, operating costs, and adverse working capital movements, resulting in a $269m decrease when compared to the six months
ended 30 June 2016. The lockup of VAT receivables in certain jurisdictions in Continental Africa continues to present a challenge, hampering
free cash flow generation.

Adjusted headline loss of $93m, or 23 cents per share was recorded in the first half of 2017, reflecting the South Africa redundancy provisions
of $47m (post-tax) related to potential outcome of the Section 189 process, and an estimated provision in respect of the silicosis class-
action law suit of $46m (post-tax). Excluding the impact of these non-cash provisions, the adjusted headline earnings would have been
neutral for the first half. As a consequence of the restructuring of certain of the South African business units, an impairment of $86m (post-
tax) was recorded in earnings for the period. These impairments are non-cash in nature and are included in the calculation of basic earnings,
but excluded from the calculation of headline loss and adjusted headline loss for the period.

Adjusted earnings before interest, tax, depreciation and amortisation (Adjusted EBITDA) of $610m during the first half of 2017 decreased
by $171m, or 22%, from the $781m recorded during the same period in 2016. The Adjusted EBITDA excludes the impact of the South
African redundancy costs and impairments but includes the impact of the estimated provision in respect of the silicosis class-action law suit
of $63m (pre-tax). The ratio of net debt to Adjusted EBITDA at 30 June 2017 was 1.56 times compared with 1.44 times at 30 June 2016.
The current net debt to Adjusted EBITDA ratio falls well below the covenant ratio of 3.5 times which applies under our revolving credit facility
agreements (RCFs), highlighting the success of Anglogold Ashanti's continued efforts to maintain financial flexibility.

Net debt rose by 3% to $2.151bn at 30 June 2017, from $2.098bn at the same time last year. Management remains focused on funding the
capital investment programme whilst paying down existing RCFs at a steady pace, as the opportunity arises. The balance sheet remains
robust, with liquidity comprising $880m available on the $1bn US dollar RCF at 30 June 2017, A$240m undrawn on the A$500m Australian
dollar RCF, approximately R1.5bn available from the South African RCF and other facilities and cash and cash equivalents of $164m at
30 June 2017.

Capital expenditure (including equity accounted investments) increased by $136m, from $318m for the six months ended 30 June 2016 to
$454m for the six months ended 30 June 2017. This increase was largely due to increased investment in asset improvements aimed at
improving mine lives and cost profiles across the portfolio. The capital expenditure in Continental Africa saw an increase of $80m with higher
spend at Geita and Kibali as underground development advances, and at Iduapriem as work continues on the main cutback. In Australia,
expenditure at Tropicana doubled to $48m as mine optimisation work, geared to improve the medium- and longer-term profitability of the
mine, progressed. It is expected that Group capital expenditure will increase in the second half of the year in line with past trends, whilst
remaining within the guided range.

Production (kozs)

1,748

1,745

0%

Gold price received ($/oz)

1,236

1,222

1%

Total cash costs per unit ($/oz)

796

706

(13%)

Corporate & marketing costs ($m) *

35

29

(21%)

Exploration & evaluation costs ($m)

62

61

(2%)

All-in sustaining costs ($/oz) **

1,071

911

(18%)

All-in costs ($/oz) **

1,144

982

(16%)

Adjusted EBITDA ($m)

610

781

(22%)

Cash inflow from operating activities ($m)

321

476

(33%)

Free cash flow ($m)

(161)

108

(249%)

Capital expenditure ($m)

454

318

(43%)

SAFETY UPDATE
AngloGold Ashanti recorded its third, consecutive fatality-free quarter, a first in the history of the Company. This record includes the South
African ultra-deep mines, which have been fatality-free since 27 July 2016. At 30 June 2017, the South African operations recorded 339
days without a fatal accident, a remarkable milestone given the depth and challenging mining conditions that these operations face.

The South Africa region has now accumulated more than seven million fatality-free shifts, including the Kopanang mine which reached a
million fatality-free shifts on 21 July 2017. Moab Khotsong mine achieved 2 million fatality-free shifts and was awarded the 2016 AGA Global
Safety Award for achieving a progressive year-on-year improvement in Lost Time Injury Frequency Rate for three consecutive years, a
progressive year-on-year improvement in All Injury Frequency Rate for six consecutive years and sustainable improvements in the
implementation of the Safety Management System over the previous two years. As of 30 June 2017, Moab Khotsong achieved 21
consecutive months without a workplace fatality.

This safety performance improvement is a result of a progressive implementation and integration into daily work routines of the group safety
strategy. The main areas of the strategy include focus on fatality risks by ensuring every employee understands and manages hazards and
associated risks on a continuous basis, that critical controls remain in place with compliance to set work routines, and that there is diligent
reporting of high potential incidents, which are addressed whilst making optimal use of technology.

The group's All Injury Frequency Rate (AIFR) for the quarter was 7.52, a 16% improvement from 8.92 in the first quarter of the year. The
AIFR in the South Africa region was 12.56 injuries per million hours worked, improving 14% compared to the first quarter, whilst International
operations improved by 15% compared to the first quarter.

Yatela, Geita, Iduapriem, Obuasi, La Colosa, Gramalote, Quebradona and Greenfields Exploration recorded an injury free quarter.

OPERATING HIGHLIGHTS

The South Africa region produced 435,000oz at a total cash cost of $1,092/oz for the six months ended 30 June 2017 compared to
486,000oz at a total cash cost of $809/oz in the same period last year.

The second quarter registered a recovery from a poor first quarter, whereby the poor adherence to mining schedules experienced in the
first two months of the year - which resulted in poor face-length availability and limited access to higher-grade areas - were largely remedied.
Notably, in the second quarter, there was a 17% increase in production at Moab Khotsong, a 107% increase in production at Kopanang,
and a 22% increase in the production contribution from MWS, in each case, over the first three months of the year. The turnaround at Moab
Khotsong was as a result of production efficiencies, in addition to infrastructure enhancements that led to improved material supply and
increased face time. At Kopanang, where improvements were due to the successful implementation of a revised work plan strategy, the
mine continues to face systemic challenges of a largely depleted ore reserve, low grades and poor efficiencies linked to the distances of
work places from central infrastructure. At MWS, the higher grades reclaimed across the sulphur pay dam and the upgrade to the pump
station boosted volumes.

For the six-month period ended 30 June 2017, the region faced various challenges that impacted negatively on volumes mined with lower
yields presenting the biggest challenge, dropping by an average of 9% year-on-year. TauTona and Mponeng mined in lower-grade areas
as planned, while Kopanang focused on clearing waste tonnes in the shaft ore-pass. AISC for the South African operations for the six

months ended 30 June 2017 were $1,259/oz, compared to $958/oz in the same period of 2016. Total cash costs were unfavourably impacted
by lower output, stronger local currency against the dollar, inflationary pressures mainly related to labour, consumables and power as well
as an unfavourable by-product contribution.

At West Wits, production was 163,000oz at a total cash cost of $1,255/oz for the six months ended 30 June 2017 compared to 214,000oz
at a total cash cost of $786/oz in the same period last year. Tau Tona's production was significantly lower following the challenges faced
during the first half of the year where fractured ground conditions and inefficiencies were exacerbated by the move into lower-grade areas
as the mine life nears its end. The Savuka section continued at lower volumes as available mining ground was reduced following a decision
to halt the re-opening up project on 116 level for safety and risk reasons. Additionally, the mine continues to suffer production challenges
as this section struggles to recover following the seismic incident that occurred in the second quarter of 2016.

Mponeng's production was lower compared to the same period last year due to changes in the orebody structure resulting in lower tonnes
milled, and was also impacted by the planned move from higher grade areas resulting in 11% lower yield year-on-year.

At Vaal River, production was 174,000oz at a total cash cost of $1,003/oz for the six months ended 30 June 2017 compared to 173,000oz
at a total cash cost of $843/oz in the same period last year. Moab and Kopanang delivered improved volumes in the second quarter after
the slow start to the year. Moab Khotsong's production for the six months ended  30 June 2017 was 3% higher compared to the same period
last year despite the production challenges experienced in the first quarter of the year. The turnaround was driven by improved production
during the second quarter. Additionally, logistical improvements, which included enhancements on the chair-lift and material transportation,
resulted in improved material supply and increased face-time.

Kopanang's production was down for the six months ended 30 June 2017 compared to the same period last year, mainly due to reduced
face values resulting from a lower mining mix and dilution from clearing of waste tonnes in the ore-pass. The mine continued to produce
gold at AISC of $1,682/oz, well above the gold price.

Surface Operations produced 92,000oz at a total cash cost of $970/oz for the six months ended 30 June 2017, compared to 93,000oz at a
total cash cost of $797/oz in the same period last year. The operations were impacted by poor performance from hard rock operations, and
constraints in getting material into the Kopanang and West Gold plants in the ore receiving section. Additionally, there was limited mill
availability due to plant shut-down for repairs. A number of measures have been identified which will improve the tonnage throughput at this
gold plant, including completing mill refurbishments by the end of the year.

Production at MWS was up 9% compared to the same period last year mainly boosted by 11% increase in yield from reclaiming higher-
grade areas across the sulphur pay dam and the recent upgrade to the pump station. MWS was the lowest cost producer for the South
African region during the six months at a total cash cost of $783/oz.

An initiative has commenced to correct the significant fall-off in gold reclaimed which occurred in the first quarter of 2017 through the two
circuits servicing the flotation plant. It is anticipated that the flotation and uranium circuits will be recommissioned during the third quarter of
2018.

The Continental Africa region produced 665,000oz at a total cash cost of $721/oz for the six months ended 30 June 2017 compared to
620,000oz at a total cash cost of $690/oz in the same period last year. Production increased by 7%, mainly driven by stronger performances
from Siguiri and Iduapriem, which benefited from improved grade, whilst Kibali recovered from the prior year setback when production and
costs suffered during the test commissioning of the sulphide circuit. Continental Africa's AISC for the six months ended 30 June 2017 was
$966/oz, compared to $848/oz in the same period of 2016, driven largely by the 91% increase in sustaining capital expenditure, from $78m
to $149m.

In the Democratic Republic of the Congo,
30 June 2017 compared to 114,000oz at a total cash cost of $802/oz in the same period last year. Production was 11% higher than the
same period last year. Total cash costs increased on the same period last year mainly due to higher strip ratios in the Pakaka and
Komobokolo pits, 14% higher milled tonnes and a slightly lower grade. This was partly offset by a significant improvement is ore recovery
to 83% due to the additional fine grinding capacity and improved management of the various ore types. Power costs were also higher due
to a very low rainfall period resulting in a reduction in hydropower availability. AISC were higher due to sustaining capital expenditure
associated with off-shaft development, additional fine grinding and CIP capacity, and capitalised stripping.

In Ghana, Iduapriem's production was 107,000oz at a total cost of $847/oz for the six months ended 30 June 2017 compared to 
99,000oz at a total cash cost of $931/oz in the same period last year. Production increased 8% as a result of higher recovered grades from
the base of the Ajopa pit, partly offset by a decrease in tonnages treated. Total cash costs decreased by 9% mainly due to the increased
production, also assisted by lower fuel and power prices as the mine benefited from a reduction in regulated fuel levies. Obuasi remained
on the care and maintenance phase while future operational options for the mine are being evaluated.

In Guinea, Siguiri's production was 157,000oz at a total csh cost of $712/oz for the six months ended 30 June 2017 compared to 126,000oz
at a total cash cost of $706/oz in the same period last year. The 25% increase in production was driven by increased recovered grade as
the mine accessed the Seguelen pit, though the cost benefit was partially offset by the longer haulage distance. Further, costs in the six
months ended 30 June 2016 reflected a once-off benefit for a favourable settlement of historical rate adjustment claims with the previous
mining contractor.

In Mali, Morila's production was 12,000oz at a total cash cost of $993/oz for the six months ended 30 June 2017 compared to 13,000oz at
a total cash cost of $965/oz in the same period last year. Production from processing lower-grade tailings storage material continued during

the quarter, partly boosted by an increase in tonnes treated due to the relatively soft ore material. Total cash costs consequently increased
as a result of lower-grade throughput.

At Sadiola, production was 31,000oz at a total cash cost of $862/oz for the six months ended 30 June 2017 compared to 36,000oz at a
total cash cost of $826/oz in the same period last year. Production decreased as the limited operational flexibility in the depleting oxide
material continued with a negative impact on recovered grade, partly offset by an increase in tonnes treated. Total cash costs increased
due to the lower production.

In Tanzania Geita's produnction was maintained at 229,00oz at a  total cash cost of $555/oz for the six months ended 30 June 2017
compared to 229,000oz at a total cash cost of $496/oz in the same period last year. Production was in line with planned decrease in tonnage
throughput, offset by an increase in recovered grade. Total cash costs increased primarily due to higher fuel prices, higher mining and
processing cost per tonne compared to the previous period.

The Americas produced 393,000oz at a total cash cost of $622/oz for the six months ended 30 June 2017 compared to 388,000oz at a
total cash cost of $549/oz in the same period last year. Production was boosted by strong performances by Cerro Vanguardia and AGA
Mineração, both of which had plant improvements. AISC for the six months ended 30 June 2017 were $965/oz, compared to $816/oz in the
same period a year ago. The cost increase is attributable to lower grade and an unfavourable exchange rate.

In Brazil, production was 254,000oz at a total cash cost of $694/oz for the six months ended 30 June 2017 compared to 252,000oz at a
total cash cost of $545/oz in the same period last year.

At AngloGold Ashanti Mineração, production was 197,000oz at a total cash cost of $642/oz for the six months ended 30 June 2017 compared
to 188,000oz at a total cash cost of $531/oz in the same period last year. Production increased by 5% as a result of higher underground
tonnages mined, coupled with improved plant performance at the Córrego do Sítio complex. Total cash costs were higher compared to same
period last year mainly due to the exchange rate impact from a stronger Real against the dollar and inflationary impact, in addition to higher
heap leach costs.

At Serra Grande, production was 57,000oz at a total cash cost of $876/oz for the six months ended 30 June 2017, compared to 64,000oz
at a total cash cost of $584/oz in the same period last year. Production was affected by lower recovered grade as a result of a revised
production plan, partially offset by higher tonnage treated. The mine also faced cracking at the underground section of the mine which
necessitated a change in the sequencing at the rock face. Total cash costs were higher because of lower production, exchange rate impact
from a stronger Real against the dollar and higher operating costs.

In Argentina, Cerro Vanguardia produced 139,000oz at a total cash cost of $491/oz for the six months ended 30 June 2017 compared to
136,000oz at a total cash cost of $543/oz in the same period last year. Production increased mainly due to higher tonnes treated driven by
operational and metallurgical improvements at the plant together with higher grades resulting from the flexibility of the mining model.

Total cash costs were lower mainly as a result of a favourable stockpile movement due to higher volume of stockpile inventory derived from
higher tonnes mined. Costs also benefited from higher by-product volumes and the favourable exchange rate. These positive effects were
partially offset by an end to the Patagonia ports rebate programme, which ended in December 2016.

In Australia production was 255,000oz at a total cash cost of $775/oz for the six months ended 30 June 2017, compared to 251,000oz at a
total cash cost of $806/oz in the same period last year. Production was slightly higher due to an increase in gold output at Tropicana, which
more than offset a 5% drop in production at Sunrise Dam. The higher production at Tropicana also contributed to lower total cash costs for
the Australia Region for the period.

At Sunrise Dam, production was 107,000oz at a total cash cost of $977/oz compared to 113,000oz at a total cash cost of $858/oz in the
same period last year. Slightly lower mill throughput and a 5% lower mill-feed grade of 2.08 g/t were partially offset by a marginal increase
in metallurgical recovery. The lower head grade was in part due to a negative variance in mined grades in the Astro orebody. Astro is a
minor contributor to future production. A plan is in place to accelerate development and grade control drilling in the Vogue and Cosmo work
areas to lift the mined grade. Total cash costs were higher due to lower gold production and higher underground mining costs, with a 17%
increase in ore tonnes mined compared to the six months ended 30 June 2016. The EPC contract for construction of the Recovery
Enhancement Project was executed during the six months ended 30 June 2017.

At Tropicana (70%) production was 148,000 oz at a total cash cost of $575/oz compared to 137,000oz at $704/oz in the same period last
year. The higher production was due to a 12% increase in mill throughput following completion of the processing plant optimisation and
expansion project late in 2016. The increase in production contributed to lower total cash costs. Work continued during the six months ended
30 June 2017 on the Long Island Study, which is investigating cutback options to the Boston Shaker, Havana and Havana South open pits
utilising short-haul open pit options. These include using the completed Tropicana pit as a void into which waste will be backfilled, reducing
waste haulage costs. The study is expected to be completed in the fourth quarter of 2017.

CORPORATE UPDATE

Section 189

On 28 June AngloGold Ashanti announced the decision to restructure its South African operations to ensure the future viability of the balance
of its South African business. The company took the difficult decision to begin a consultation process with employees in terms of section
189 and 189A of the Labour Relations Act, with respect to restructuring certain of its South African business units. This follows a review of
the options to safely turn around the performance of these loss-making operations.

For the full release see:

Accounting provision on Silicosis

On 1 August 2017, AngloGold Ashanti announced that it had raised an accounting provision in respect of the potential settlement of the
silicosis class action claims and related costs, as a result of the progress made by the Gold Working Group (GWG) on Occupational Lung
Disease (OLD) since 31 December 2016 on a variety of issues. For more information, refer to Note 5 - Special Items in the condensed
consolidated financial statements. The GWG includes AngloGold Ashanti, Anglo American South Africa, Gold Field, Harmony Gold Mining
Company and Sibanye Gold and was formed in November 2014 to address issues relating to compensation for OLD in the gold mining
industry in South Africa. African Rainbow Minerals have subsequently joined the working group.

Passage of New Legislation in Tanzania

AngloGold Ashanti noted the enactment by the Republic of Tanzania's Parliment and publication in the Country's offical Government
Gazette of the Natural Wealth and Resources (Permanent Sovereignty) Act, No 5 of 2017, the Natural Wealth and Resources Contracts
(Review and Re-Negotiation of Unconscionable Terms) Act, No 6 of 2017 and the Written Laws (Miscellaneous Amendments) Act, No 7 of
2017.

Anglogold Ashanti's indirect subsidiaries, Samax Resources Limited and Geita Gold Mining Limited (the Subsidiaries) are parties to a Mine
Development Agreement (MDA) in relation to the development and operation of the Geita gold mine in Tanzania (Geita Mine), which governs
the relationship between the Subsidiaries and the Government of Tanzania (GoT) in relation to Geita Mine. The MDA was instrumental in
the decision to make the significant investment in the development of Geita Mine, at a time of significantly lower gold prices and when
Tanzania was an untested jurisdiction for new mine development.

The three pieces of new legislation in question purport to make a number of changes to the operating environment for Tanzania's extractive
industries, including those in its mining, and oil and gas sectors. These changes include, among others: the right for the Government of
Tanzania (GoT) to renegotiate existing MDAs at its discretion; the provision to the GoT of a non-dilutable, free-carried interest of no less
than 16% in all mining projects; the right for the Government to acquire up to 50% of any mining asset commensurate with the value of tax
benefits provided to the owner of that asset by the GoT; removal of the refund of input VAT incurred; an increase in the rate of revenue
royalties from 4% to 6%; requirements for local beneficiation and procurement; and constraints on the operation of off-shore bank accounts.

Anglogold Ashanti's subsidiaries are seeking a constructive dialogue with the GoT, and its agencies, to gain assurances that Geita Mine
will not be affected by these legal and fiscal changes. On 13 July, AngloGold Ashanti announced that its subsidiaries in Tanzania made a
decision to take the precautionary step of safeguarding their interests under the Mine Development Agreement (MDA), by commencing
arbitration proceedings under the rules of the United Nations Commission on International Trade Law, as provided for in the MDA.

For the full release see:

Despite the dispute over the legal basis for the increased royalty rate, from 4% to 6%, and the imposition of 1% clearing fee for the export
of gold, Tanzanian officials have insisted upon receipts for such payments as a condition of the release of exports. Whilst our subsidiaries
in Tanzania do not accept that they are bound to pay either new levy, these are being paid under protest to ensure continued processing of
export shipments.

In addition to the abovementioned legislation, the Government amended the Minimum (Mining Shareholding and Public Offering)
Regulations on 24 February 2017, by publishing the Mining (Minimum Shareholding and Public Offering) (Amendment) Regulations, 2017
(as revised, the Mandatory Listing Regulations). This requires companies with a Special Mining Licence (SML) to float 30% of their total
issued shares on the Dar es Salaam Stock Exchange in Tanzania by 24 August 2017. The regulations contemplate the possibility that a
company may proceed with a listing and fail to secure the minimum local shareholding. In such circumstances the Minister of Energy and
Minerals may at the request of the company and on the recommendation of the Capital Markets and Securities Authority grant a waiver to
the minimum local shareholding requirement.

The Subsidiaries's position is that the Mandatory Listing Regulations ought not apply to them for a number of legal and practical reasons,
including being inconsistent with the provisions of the MDA. The Subsidiaries are in ongoing engagement with all levels of Government.

OBUASI UPDATE

On 8 April 2016, AngloGold (Ghana) Limited (AGAG) filed a request for arbitration against the Republic of Ghana (GoG). AGAG filed this
request with the International Centre for Settlement of Investment Disputes (ICSID), an international arbitration institution headquartered in
Washington, D.C., which facilitates dispute resolution between international investors and host states. AGAG is seeking relief from GoG for
breaching the provisions of its Mining Lease by failing to restore law and order on its Mining Lease after the incursion of illegal miners. These
actions prevented AGAG from peaceful enjoyment of the areas covered under its Mining Lease. GoG may raise counterclaims against
AGAG in response to AGA's request for arbitration.

UPDATE ON CAPITAL PROJECTS

Kibali

All four new Ultra Fine Grind mills and the pump-cell circuit have been commissioned and are now in operation. The second hydropower
plant at Amburau was commissioned in the first quarter taking hydropower capacity to 32MW. The third hydropower plant at Azambi remains
on schedule with first power expected in the second quarter of 2018.

The underground declines completed 2.5km of capital development, while the shaft material handling system progressed according to plan
during the quarter; commissioning is scheduled to begin in the third quarter. First ore from underground via the shaft is now scheduled for
the last quarter of the year.

The Gorumbwa resettlement programme is progressing on schedule, with the first phase of housing and community infrastructure already
handed over. A regional development plan, including health, education and infrastructure was also agreed with the Provincial Governor,
which will be rolled out in partnership with the state to improve living standards in the area.

Mponeng Phase 1 and 2

The Mponeng Phase 1 project infrastructure construction continued ahead of schedule. The commissioning of the MC3 conveyor belt was
completed during the second quarter. This is the main conveyor which is a component of the ore handling system that transfers onto existing
MC2 conveyor. The MC3 will transport the reef and waste from the lower production level - the 126 level - in the decline. Prior to the MC3
conveyor belt, the rock was transported by dump truck up to 123 level. The remainder of the project milestones pertaining to the construction
of ore handling infrastructure, as well as the water handling infrastructure, reef pass from 123 level, ventilation pass and secondary support,
remain ahead of schedule and are anticipated to be completed during the third quarter of 2017.

The ramp-up of ore reserve development on the eastern side of 126L has hit challenging ground conditions, requiring rehabilitation that has
delayed the ore reserve development schedule. The ramp-up on the western side, however, has continued according to
schedule. Production ramp-up from 126L is anticipated in early 2018.

The feasibility study for the life of mine extension project continues with an anticipated completion and Board ratification date set for Quarter
3 2018. Due to current capital constraints, the early work associated with the life of mine extension project (inclusive of the original Phase
2 early works) has been deferred and will continue upon project approval being granted post the completion of the feasibility study.

Siguiri Combination Plant

The project remains on schedule. All major goods and services required for the project have been sourced and contracted, and are in the
process of mobilisation and establishment in accordance with the project delivery timelines.

During the second quarter, the major contracts for the power plant construction, EPCM Services and Civil construction works were
adjudicated and awarded. The establishment of the on-site construction camp has also been completed.

The main mechanical contract has been adjudicated and will be awarded in the third quarter of 2017.

Sadiola Sulphide Project

At this time there has been no change in the status of the Sadiola Sulphide Project. Discussions with the Government of Mali continue. A
decision to move forward will be contingent upon the Government's renewal of the construction and operating permits, the power agreement
and fiscal terms related to the Project. In parallel, a review of the current life-of-mine plan is being undertaken.

GREENFIELDS

Greenfields exploration activities were undertaken in Australia, Colombia, Brazil, Argentina, USA, and Tanzania during the first half of the
year. Greenfields exploration completed 21,502m of drilling globally during the six months ended 30 June 2017, with total expenditure
amounting to $14m.

In Australia, exploration activity was focussed on the Butcher Well and Lake Carey farm-in (AngloGold Ashanti earning 70%), within the
Laverton district. The RC and diamond drilling at Butcher Well was completed in early June. In first half of the year, 24 RC/diamond holes
were completed for 9,962m. The steeply west-dipping Enigmatic zone extends down-dip to a vertical depth beyond 400m. Intercepts of 5m
@ 4.15g/t Au from 322m in BWD022 and 17m @ 7.79g/t Au from 375 m in BWD023* define a thicker and higher-grade shoot within the
zone. These holes confirm the intersection of drill hole BWD013, which returned 20.7m @ 6.06g/t Au from 351m. A new mineralised zone
has been identified 200m East of the Southern part of the Enigmatic pit. Hole BWD018 intersected 14m @ 6.15g/t Au from 394m, 10m @

5.05g/t Au from 459m and 12m @ 4.08g/t Au from 475m, and hole BWD026 intersected 4m @ 5.90g/t Au from 300m. Hole BWD020 drilled
300m to the South intersected 8m at 5.4g/t Au from 342m. This discovery is named the Old Camp zone with these intersections open both
laterally and vertically.

The Mt Minnie aircore drilling programme started early in June. The Mt Minnie structure extends for 10km in a north-south orientation and
forms the northern extension of the Butcher well system. A total of 107 holes were drilled in the second quarter for 6,433m. A ground gravity
programme of approximately 15,000 stations at 100m spacing has been completed over the western part of the Butcher well district. At the
Oak Dam project, within the Tropicana belt (Tropicana JV with 70% AngloGold Ashanti), geochemical sampling, using vacuum drilling,
started in early June. A total of 768 holes have been completed, the remaining 1,400 holes should be completed by end of the third quarter.
Assay results are pending.

In the United States of America, a reconnaissance rotosonic drill programme was completed at the Celina Project in Minnesota (100%
AngloGold Ashanti) with 29 holes drilled for 1,034m. Early in the first quarter, a regional magnetic airborne survey was also completed in
Minnesota at 17,687km, with 50,697km in total. An option to earn 100% of the Silicon Project in Nevada was signed with Renaissance Gold.
AngloGold Ashanti will have a 3-year option to acquire 100% of the property for a total consideration of $3m cash in staged payments and
a 2.5% NSR. Geological mapping and sampling were completed.

In Colombia at Nuevo Guintar (100% AngloGold Ashanti) activities are focused at reaching a decision point. Soil sampling, ground magnetic
and IP programmes were completed and a 1200m diamond drilling programme initiated in June with 553m completed. The principle target
is a 500m by 300m gold and multi-element soil geochemistry anomaly with an epithermal signature.

In Brazil, work concentrated on the Tromai Project which covers a large ~2,000km2 highly prospective tenement package (AngloGold
Ashanti earning 70% from Trek Mining). Diamond and RC drilling was initiated (1,573m DD and 2,207m RC in the second quarter) over
known structures associated with artisanal mining and soil geochemistry. The aeromagnetic and radiometric data (38,000 line km) collected
in last quarter of 2016 and the first quarter in 2017 was processed and final products delivered. Geochemistry results from the first batch of
drill core were received with minor anomalous results so far. With significant areas of the land package covered by recent sediments, soil
or laterite, the objective is to use the geophysics to delimit well defined high priority exploration corridors within the large land package for
more detailed drill target definition and drill testing in the second half of the year.

In Argentina early stage Greenfields generative exploration programmes progressed.

Also refer to the Press Release issued on 13 July 2017 on:

BROWNFIELDS

During the first half of 2017, Brownfields exploration activities were undertaken across the globe. Brownfields exploration completed
261,185m of drilling for a total expenditure for the first half of $27m (capitalised) and $34m (expensed).

South Africa: Mineral Resource conversion drilling from surface continued at Mponeng. Both UD 58A and UD 60 were completed and the
drill sites have been rehabilitated and signed off. The contracts for the new holes UD 61 and UD 63 are pending signature.

Tanzania: Exploration drilling activities included Mineral Resource conversion drilling at Nyankanga Block 5, Star & Comet Cuts 2 & 3
Underground and Geita Hill East, Mineral Resource delineation drilling at Matandani, Nyankanga Block 5 underground, 3D Seismic Target
5 and Star & Comet Cut 2 NW, and infill and underground drilling at Star & Comet (Cut 2 and 3). During the six months ended
30 June 2017, 143 drillholes totalling 23,299m were completed for the combined surface and underground exploration drilling programmes.
Underground drilling at Geita continues to confirm the continuity of the ore zones at both Star & Comet Cut 2 and Cut 3, with encouraging
intersections also returned from the down-plunge extension of the Cut 2 orebody to the northwest. At Nyankanga, drilling was completed
from surface and underground into the Block 5 orebody with several significant intersections reported.

Guinea: A total of 21,811m was drilled. Infill drilling took place at Seguelen PB2, Kami, Tubani, and Silakoro, and reconnaissance drilling
at Silakoro NE, Kolenda South (Ellis Park) and John Deer.

Preliminary interpretation of the airborne magnetic and radiometric geophysical survey over portions of Block 1 and Block 2 and the Saraya
West license was completed. Target generation and evaluation of Block 1, the Corridor Blocks and TSF Exploration Licences was carried
out. A soil sampling programme to cover an untested area in the northwest of Block1 was initiated and is nearing completion.

Ghana: Exploration at Iduapriem was focused on drilling at Block 1W/ Nueng, Block 4S and Mile 5. A total of 6,039m drilling was completed
(4,840m DD and 1,199m RC). The results of the lease-scale geochemical soil sampling programme continue to be assessed.

Democratic Republic of the Congo: During the six months ended 30 June 2017, exploration drilling and trenching took place at
Kombokolo-Rhino-Agbarabo, Sessenge-Sessenge Southwest, Aerodrome-Pamao-Megi, KCD-Kombokolo and Ikamva. Drilling from surface
and underground has shown potential for extensions of current underground reserves on the 3000 and 9000 up-plunge lodes.

Republic of Mali - RC drilling (2,460 m) was completed at Tambali West and Dogofile and DD (761 m) was completed at Tambali North,
SSP North and FN bc. In addition, a total of 1,195m of DD was conducted at FE3 and FE4 as part of the SSP to investigate the potential of
the main shear below the pits that are earmarked for in-pit tailings disposal. A total of 1,351m of sterilisation drilling was conducted at FE4
to assess the suitability for in-pit tailings deposition for SSP.

In Argentina, drilling started at Cerro Vanguardia for the year. Most of the drilling meters were focused on extensions of ore zones and
new targets. During the six months ended 30 June 2017, 4,370m were drilled in total within the Cerro Vanguardia tenements. The Claudia
JV earn-in was concluded ahead of the one year anniversary. Other work was completed to support target generation included trenching
and channel sampling programmes to refine drill targeting.

In Brazil, exploration continued at the Cuiaba, Lamego and Córrego do Sítio (CdS) production centers for AGABM with 47,115m drilled
during first half of the year from the combined surface and underground drilling programmes. Targets included ore body extension at Cuiaba
and CdS. Follow up infill drilling to support mine planning and Mineral Resource conversion was also completed.

Guidance

Notes

Production (000oz)

3,600 3,750

Costs

All-in sustaining costs ($/oz)

1,050 1,100

Total cash costs ($/oz)

750 800

Overheads

Corporate costs ($m)

75

85

Expensed exploration and study costs ($m)

150 170

Including equity accounted joint ventures

Capex

Total ($m)

950 1,050

Sustaining capex ($m)

830 900

Non-sustaining capex ($m)

120 - 150

Depreciation and Amortisation ($m)

820

135

Earnings of associates and joint ventures

Interest and finance costs ($m) income statement

140

Interest and finance costs ($m) cash flow

135

Affected by timing of coupon payments

Other operating expenses ($m)

85

Production, overhead and cost estimates assume neither labour interruptions or power disruptions, nor changes to asset portfolio and/or
operating mines and have not been reviewed by our external auditors. Other unknown or unpredictable factors could also have material
adverse effects on our future results and no assurance can be given that any expectations expressed by AngloGold Ashanti will prove to
have been correct. Please refer to the Risk Factor sction in Anglogold Ashanti's annual report on Form 20-F for the year ended
31 December 2016, filed with the United States Securities and Exchange Commission.

Six months

Year

ended

ended

Jun

Dec

2016

2016

Reviewed

Audited

2

2,041

4,254

Gold income

2

1,960

4,085

Cost of sales

3

(1,501)

(3,263)

Gain (loss) on non-hedge derivatives and other commodity contracts

(30)

19

429

841

Corporate administration, marketing and other expenses

(29)

(61)

Exploration and evaluation costs

(61)

(133)

Other operating expenses

4

(46)

(110)

Special items

5

(6)

(42)

287

495

Interest income

2

11

22

Exchange losses

(83)

(88)

Finance costs and unwinding of obligations

6

(97)

(180)

Fair value adjustment on issued bonds

(25)

9

Share of associates and joint ventures' (loss) profit

7

19

11

112

269

Taxation

8

(51)

(189)

61

80

52

63

Non-controlling interests

9

17

61

80

Basic (loss) profit per ordinary share (cents) ⁽¹⁾

13

15

Diluted (loss) profit per ordinary share (cents)⁽²⁾

13

15

Calculated on the basic weighted average number of ordinary shares.

Calculated on the diluted weighted average number of ordinary shares.

As at

As at

Jun

Dec

2016

2016

Reviewed

Audited

4,072

4,111

Intangible assets

151

145

Investments in associates and joint ventures

1,489

1,448

Other investments

128

125

Inventories

94

84

Trade, other receivables and other assets

22

34

Derivatives

1

-

Deferred taxation

21

4

Cash restricted for use

34

36

Other non-current assets

15

-

6,027

5,987

3

5

Inventories

671

672

Trade, other receivables and other assets

240

255

Cash restricted for use

22

19

Cash and cash equivalents

470

215

1,406

1,166

7,433

7,153

11

7,103

7,108

Accumulated losses and other reserves

(4,473)

(4,393)

Shareholders' equity

2,630

2,715

Non-controlling interests

40

39

2,670

2,754

2,046

2,144

Environmental rehabilitation and other provisions

923

877

Provision for pension and post-retirement benefits

112

118

Trade, other payables and deferred income

6

4

Deferred taxation

494

496

3,581

3,639

608

34

Trade, other payables, deferred income and provisions

508

615

Taxation

66

111

1,182

760

4,763

4,399

7,433

7,153

Six months

Year

ended

ended

Jun

Dec

2016

2016

Reviewed

Audited

2,003

4,231

Payments to suppliers and employees

(1,405)

(2,929)

Cash generated from operations

598

1,302

Dividends received from joint ventures

5

37

Taxation refund

3

12

Taxation paid

(130)

(165)

Net cash inflow from operating activities

476

1,186

(277)

(706)

Expenditure on intangible assets

(2)

(5)

Proceeds from disposal of tangible assets

2

4

Other investments acquired

(41)

(73)

Proceeds from disposal of other investments

33

61

Investments in associates and joint ventures

(3)

(11)

Proceeds from disposal of associate

-

10

Loans advanced to associates and joint ventures

(3)

(4)

Decrease in cash restricted for use

5

8

Interest received

9

14

Net cash outflow from investing activities

(277)

(702)

201

787

Repayment of borrowings

(329)

(1,333)

Finance costs paid

(84)

(172)

Bond settlement premium, RCF and bond transaction costs

-

(30)

Dividends paid

(6)

(15)

Net cash inflow (outflow) from financing activities

(218)

(763)

(19)

(279)

Translation

5

10

Cash and cash equivalents at beginning of period

484

484

470

215

112

269

30

(19)

Amortisation of tangible assets

349

789

Finance costs and unwinding of obligations

97

180

Environmental, rehabilitation and other expenditure

2

(13)

Special items

5

44

Amortisation of intangible assets

14

20

Fair value adjustment on issued bonds

25

(9)

Interest income

(11)

(22)

Share of associates and joint ventures' loss (profit)

(19)

(11)

Other non-cash movements

97

150

Movements in working capital

(103)

(76)

598

1,302

(33)

(48)

Increase in trade and other receivables

(50)

(131)

(Decrease) increase in trade, other payables and deferred income

(20)

103

(103)

(76)

7,066

117

(3,174)

(1)

7

(19)

(1,566)

2,430

37

2,467

Profit for the period

52

52

9

61

20

(4)

122

138

138

-

-

52

-

20

(4)

122

190

9

199

Shares issued

37

37

37

(27)

(27)

(27)

Dividends of subsidiaries

-

(6)

(6)

Translation

3

(3)

1

(1)

-

-

7,103

93

(3,125)

(1)

28

(24)

(1,444)

2,630

40

2,670

(Loss) profit for the period

Other comprehensive income

Shares issued

Dividends paid

Dividends of subsidiaries

Translation

Anglogold Ashanti's operating segments are being reported based on the financial information provided to the Chief  Executive Officer and the
Executive Committee, collectively identified as the Chief Operating Decision Maker (CODM). Individual members of the Executive Committee are
responsible for geographic regions of the business.

Six months

Year

ended

ended

Jun

Dec

2016

2016

Reviewed

Audited

South Africa

581

1,173

Continental Africa

792

1,663

Australasia

309

646

Americas

477

1,036

2,159

4,518

Equity-accounted investments included above

(199)

(433)

1,960

4,085

Six months

Year

ended

ended

Jun

Dec

2016

2016

Reviewed

Audited

South Africa

12

23

Continental Africa

2

4

Australasia

1

2

Americas

54

110

69

139

Equity-accounted investments included above

-

(1)

69

138

Six months

Year

ended

ended

Jun

Dec

2016

2016

Reviewed

Audited

South Africa

389

857

Continental Africa

443

976

Australasia

198

404

Americas

219

486

Corporate and other

(4)

-

1,245

2,723

Equity-accounted investments included above

(133)

(288)

1,112

2,435

Six months

Year

ended

ended

Jun

Dec

2016

2016

Reviewed

Audited

South Africa

480

1,041

Continental Africa

614

1,331

Australasia

253

540

Americas

341

752

Corporate and other

(1)

5

1,687

3,669

Equity-accounted investments included above

(186)

(406)

1,501

3,263

Six months

Year

ended

ended

Jun

Dec

2016

2016

Reviewed

Audited

South Africa

70

149

Continental Africa

178

334

Australasia

56

106

Americas

136

283

Corporate and other

1

(4)

441

868

Equity-accounted investments included above

(12)

(27)

429

841

Six months

Year

ended

ended

Jun

Dec

2016

2016

Reviewed

Audited

South Africa

75

182

Continental Africa

112

291

Australasia

39

109

Americas

90

225

Corporate and other

2

4

318

811

Equity-accounted investments included above

(38)

(100)

280

711

Six months

Year

ended

ended

Jun

Dec

2016

2016

Unaudited

Unaudited

South Africa

486

967

Continental Africa

620

1,321

Australasia

251

520

Americas

388

820

1,745

3,628

As at

As at

Jun

Dec

2016

2016

Reviewed

Audited

South Africa

1,733

1,818

Continental Africa

3,144

3,090

Australasia

858

804

Americas

1,301

1,273

Corporate and other

397

168

7,433

7,153

The financial statements in this report have been prepared in accordance with the historic cost convention except for certain financial
instruments which are stated at fair value. The group's accounting policies used in the preparation of these financial statements
are in terms of the JSE Listings Requirements and are consistent with those used in the annual financial statements for the year
ended 31 December 2016.

The financial statements of AngloGold Ashanti have been prepared in compliance with the framework concepts and the
measurement and recognition requirements of IFRS, IAS 34, IFRS as issued by the International Accounting Standards Board, the
South African Institute of Chartered Accountants Financial Reporting Guides as issued by the Accounting Practices Committee,
Financial Reporting Pronouncements as issued by the Financial Reporting Standards Council, JSE Listings Requirements and in
the manner required by the South African Companies Act, 2008 (as amended) for the preparation of financial information of the
group for the six months ended 30 June 2017. These financial statements should be read in conjunction with the company's audited
consolidated financial statements and the notes thereto as at and for the year ended 31 December 2016.

Based on materiality, certain comparatives have been aggregated.

Six months

Year

ended

ended

Jun

Dec

2016

2016

Reviewed

Audited

Gold income

1,960

4,085

By-products (note 3)

69

138

Royalties received (note 5)

1

9

Interest income

11

22

2,041

4,254

Six months

Year

ended

ended

Jun

Dec

2016

2016

Reviewed

Audited

Cash operating costs

1,120

2,444

By-products revenue (note 2)

(69)

(138)

1,051

2,306

Royalties

49

105

Other cash costs

12

24

Total cash costs

1,112

2,435

Retrenchment costs

5

14

Rehabilitation and other non-cash costs

28

43

Amortisation of tangible assets

349

789

Amortisation of intangible assets

14

20

Inventory change

(7)

(38)

1,501

3,263

Six months

Year

ended

ended

Jun

Dec

2016

2016

Reviewed

Audited

Care and maintenance costs

37

70

Pension and medical defined benefit provisions

3

25

6

14

Other expenses

-

1

46

110

Six months

Year

ended

ended

Jun

Dec

2016

2016

Reviewed

Audited

Impairment and derecognition of assets ⁽¹⁾

2

3

Impairment of other investments

-

-

Retrenchment and related costs

-

1

4

11

Write-down of inventories

-

12

Net profit on disposal of assets

(1)

(4)

Royalties received (note 2)

(1)

(9)

Indirect tax (recoveries) expenses

2

(2)

Repurchase premium and cost on settlement of the $1.25bn bonds

-

30

6

42

TauTona

Tangible
assets
impairment

Taxation
thereon

Post-tax
total

78

(19)

59

Kopanang

34

(9)

25

Surface Operations and other

3

(1)

2

115

(29)

86

Litigation claims - Class action
Occupational Diseases in Mines and Works Act (ODMWA) litigation - On 3 March 2011, in Mankayi vs. AngloGold Ashanti, the Constitutional
Court of South Africa held that section 35(1) of the Compensation for Occupational Injuries and Diseases Act, 1993 does not cover an "employee"
who qualifies for compensation in respect of "compensable diseases" under ODMWA. This judgement allows such qualifying employee to pursue
a civil claim for damages against the employer. Following the Constitutional Court decision, AngloGold Ashanti and members of the working
group (discussed below) have been subject to numerous claims relating to silicosis and other Occupational Lung Diseases (OLD), including
several potential class actions and individual claims.

Six months

Year

ended

ended

Jun

Dec

2016

2016

Reviewed

Audited

Finance costs

86

158

Unwinding of obligations and accretion of convertible bonds

11

22

97

180

Six months

Year

ended

ended

Jun

Dec

2016

2016

Reviewed

Audited

Revenue

206

441

Operating costs, special items and other expenses

(203)

(446)

Net interest received

4

3

(Loss) profit before taxation

7

(2)

Taxation

2

7

(Loss) profit after taxation

9

5

10

6

19

11

Six months

Year

ended

ended

Jun

Dec

2016

2016

Reviewed

Audited

Non-mining tax

-

1

Prior year over provision

-

(3)

6

7

Prior year under provision

-

25

Unrealised non-hedge derivatives and other commodity contracts

(9)

5

(3)

35

Normal taxation

109

246

Prior year under (over) provision

(5)

(10)

(50)

(65)

Prior year over provision

-

(17)

54

154

51

189

Six months

Year

ended

ended

Jun

Dec

2016

2016

Reviewed

Audited

52

63

Net impairment (reversal) and derecognition of assets

(17)

(16)

Impairment of other investments

-

-

Net (profit) loss on disposal of assets ⁽¹⁾

(1)

4

Exchange loss on foreign currency translation reserve release

60

60

Taxation

(1)

-

93

111

Headline (loss) earnings per ordinary share (cents) ⁽²⁾

23

27

Diluted headline (loss) earnings per ordinary share (cents) ⁽³⁾

23

27

Includes loss on sale of associate.

Calculated on the basic weighted average number of ordinary shares.

Calculated on the diluted weighted average number of ordinary shares.

Six months

Year

ended

ended

Jun

Dec

2016

2016

Reviewed

Audited

Authorised number of shares:

Ordinary shares of 25 SA cents each

600,000,000

600,000,000

A redeemable preference shares of 50 SA cents each

2,000,000

2,000,000

B redeemable preference shares of 1 SA cents each

5,000,000

5,000,000

C redeemable preference shares at no par value

30,000,000

30,000,000

Issued and fully paid number of shares:

Ordinary shares in issue

408,003,687

408,223,760

A redeemable preference shares

2,000,000

2,000,000

B redeemable preference shares

778,896

778,896

In calculating the basic and diluted number of ordinary shares outstanding for the period, the following were taken into consideration:

Ordinary shares

406,862,598

407,519,542

Fully vested options

3,468,878

5,065,500

Weighted average number of shares

410,331,476

412,585,042

Dilutive potential of share options

2,119,174

2,121,358

Dilutive number of ordinary shares

412,450,650

414,706,400

As at

As at

Jun

Dec

2016

2016

Reviewed

Audited

Balance at beginning of period

7,119

7,119

Ordinary shares issued

37

42

Sub-total

7,156

7,161

Redeemable preference shares held within group

(53)

(53)

7,103

7,108

Jun

Dec

2016

2016

Unaudited

Unaudited

ZAR/USD average for the year to date

15.39

14.68

ZAR/USD average for the quarter

14.99

13.90

ZAR/USD closing

14.68

13.73

AUD/USD average for the year to date

1.36

1.35

AUD/USD average for the quarter

1.34

1.34

AUD/USD closing

1.34

1.39

BRL/USD average for the year to date

3.70

3.48

BRL/USD average for the quarter

3.51

3.29

BRL/USD closing

3.21

3.26

ARS/USD average for the year to date

14.35

14.78

ARS/USD average for the quarter

14.22

15.46

ARS/USD closing

15.04

15.89

As at

As at

Jun

Dec

2016

2016

Reviewed

Audited

145

58

The credit facilities and other finance arrangements contain financial covenants and other similar undertakings. To the extent that
external borrowings are required, the group's covenant performance indicates that existing financing facilities will be available to
meet the above commitments. To the extent that any of the financing facilities mature in the near future, the group believes that
sufficient measures are in place to ensure that these facilities can be refinanced.

As at

As at

Jun

Dec

2016

2016

Reviewed

Audited

Carrying amount

Fair value

quoted prices (unadjusted) in active markets for identical assets or liabilities;

Level 2:

Level 3:

inputs for the asset or liability that are not based on observable market data (unobservable inputs).

The following tables set out the group's financial assets and liabilities measured at fair value by level within the fair value hierarchy:

Jun

2016

Dec

2016

Reviewed

Audited

Level 1     Level 2    Level 3   Total    Level    1 Level    2 Level    3 Total    Level 1  Level 2  Level 3    Total

Equity securities

59

-

-

59

51

-

-

51

Management has assessed the potential impact of IFRS 15 on the financial statements of the group and concluded that the group
does not sell product based on multiple-element arrangements and it does not sell product on a provisional or variable pricing
basis and as such the new standard does not have a significant impact on the timing or amount of the group's revenue recognition.
The adoption of IFRS 15 will result in the recognition of by-product revenue in Revenue from product sales. Revenue from product
sales includes Gold Income and by-product revenue. This change in classification results in a consequential increase in costs of
sales, and therefore will not have an impact on previously reported Gross profit.

As currently reported:

Six months

Year

ended

ended

Jun

Dec

2016

2016

Reviewed

Audited

2,041

4,254

Gold income

1,960

4,085

Cost of sales

(1,501)

(3,263)

Gain (loss) on non-hedge derivatives and other commodity contracts

(30)

19

429

841

21.89%

20.59%

On adoption of IFRS 15, AngloGold Ashanti will commence with Revenue from all product sales in the detailed income statement.

Accordingly, the detailed income statement would be restated for the effects of adopting IFRS 15 as follows:

Six months

Year

ended

ended

Jun

Dec

2016

2016

Reviewed

Audited

2,041

4,254

Revenue from product sales

2,029

4,223

Cost of sales

(1,570)

(3,401)

Gain (loss) on non-hedge derivatives and other commodity contracts

(30)

19

429

841

21.14%

19.91%

Six months

Year

ended

ended

Jun

Dec

2016

2016

Unaudited

Unaudited

Headline (loss) earnings (note 9)

93

111

30

(18)

(9)

5

Fair value adjustment on issued bonds

25

(9)

Repurchase premium on settlement of issued bonds (note 5)

-

30

Provision for losses and impairments / reversals in associates

19

24

Adjusted headline (loss) earnings

159

143

Adjusted headline (loss) earnings per ordinary share (cents) ⁽¹⁾

39

35

Calculated on the basic weighted average number of ordinary shares.

Six months

Year

ended

ended

Jun

Dec

2016

2016

Unaudited

Unaudited

Gold income (note 2)

1,960

4,085

Adjusted for non-controlling interests

(41)

(83)

1,919

4,002

Realised gain on other commodity contracts

9

19

199

433

Attributable gold income including realised non-hedge derivatives

2,127

4,454

Attributable gold sold - oz (000)

1,740

3,567

Price received per unit - $/oz

1,222

1,249

Six months

Year

ended

ended

Jun

Dec

2016

2016

Unaudited

Unaudited

Cost of sales per segmental information

1,687

3,669

Amortisation of tangible and intangible assets

(417)

(923)

Adjusted for decommissioning amortisation and inventory amortisation

5

12

Corporate administration and marketing related to current operations

28

59

Inventory writedown to net realisable value and other stockpile adjustments

1

13

Sustaining exploration and study costs

36

70

Total sustaining capital expenditure

273

695

1,613

3,595

Adjusted for non-controlling interests and non-gold producing companies

(27)

(58)

1,586

3,537

Adjusted for stockpile write-offs

(1)

(18)

1,585

3,519

1,613

3,595

Non-sustaining project capital expenditure

44

116

Technology improvements

5

14

Non-sustaining exploration and study costs

23

56

Care and maintenance (note 4)

37

70

Corporate and social responsibility costs not related to current operations

10

40

1,732

3,891

Adjusted for non-controlling interests and non -gold producing companies

(23)

(53)

1,709

3,838

Adjusted for stockpile write-offs

(1)

(18)

1,708

3,820

Gold sold - oz (000)

1,740

3,567

All-in sustaining cost (excluding stockpile write-offs) per unit - $/oz

911

986

All-in cost per unit (excluding stockpile write-offs) - $/oz

982

1,071

Six months

Year

ended

ended

Jun

Dec

2016

2016

Unaudited

Unaudited

Total cash costs per segmental information

1,245

2,723

(18)

(41)

1,227

2,682

Gold produced - oz (000)

1,738

3,606

Total cash cost per unit - $/oz

706

744

Refer to the Supplementary report for Summary of Operations by Mine

Six months

Year

ended

ended

Jun

Dec

2016

2016

Unaudited

Unaudited

(Loss) profit before taxation

112

269

97

180

Interest received (note 2)

(11)

(22)

Amortisation of tangible and intangible assets (note 3)

363

809

83

88

Fair value adjustment on issued bonds

25

(9)

Impairment and derecognition of assets (note 5)

2

3

Impairment of other investments (note 5)

-

-

Write-down of inventories (note 5)

-

12

Retrenchments and restructuring costs

42

84

Net profit on disposal of assets

(1)

(4)

30

(18)

Repurchase premium on settlement of $1.25bn bonds

-

30

Associates and joint ventures' net exceptional expense

(19)

(11)

Associates and joint ventures - adjustments for amortisation, interest, taxation and other

58

137

Other amortisation

-

-

Adjusted EBITDA

781

1,548

EBITDA (as adjusted) and prepared in terms of the formula set out in the Revolving Credit Agreements.

Six months

Year

ended

ended

Jun

Dec

2016

2016

Unaudited

Unaudited

Adjusted EBITDA (note E)

781

1,548

Finance costs (note 6)

86

158

Interest cover - times

9

10

Six months

Year

ended

ended

Jun

Dec

2016

2016

Unaudited

Unaudited

Net cash inflow from operating activities

476

1,186

Net investing activities

(277)

(702)

Finance costs (note 6)

(86)

(158)

Movements in restricted cash

(5)

(8)

Acquisitions, disposals and other

-

(40)

Free cash flow

108

278

As at

As at

Jun

Dec

2016

2016

Unaudited

Unaudited

Total equity

2,670

2,754

Number of ordinary shares in issue - million (note 10)

408

408

Net asset value - cents per share

654

675

Total equity

2,670

2,754

Intangible assets

(151)

(145)

2,519

2,609

Number of ordinary shares in issue - million (note 10)

408

408

Net tangible asset value - cents per share

617

639

As at

As at

Jun

Dec

2016

2016

Unaudited

Unaudited

Borrowings - long-term portion

2,046

2,144

Borrowings - short-term portion

608

34

Total borrowings

2,654

2,178

Corporate office lease

(16)

(15)

Unamortised portion of the convertible and rated bonds

20

23

Cumulative fair value adjustment on issued bonds

(34)

-

Cash restricted for use

(56)

(55)

Cash and cash equivalents

(470)

(215)

Net debt

2,098

1,916

ISIN:

ZAE000043485

JSE:

ANG

NYSE:

AU

ASX:

AGG

GhSE: (Shares)

AGA

GhSE: (GhDS)

AAD

Auditors: Ernst & Young Inc.

(Chief Executive Officer)

KC Ramon

(Chief Financial Officer)

(Chairman)

A Garner

R Gasant

DL Hodgson

NP January-Bardill

PUBLISHED BY ANGLOGOLD ASHANTI

G

A

.

Telephone: +1-888-BNY-ADRS

Certain statements contained in this document, other than statements of historical fact, including, without limitation, those concerning the economic outlook for the gold mining industry,
expectations regarding gold prices, production, total cash costs, all-in sustaining costs, all-in costs, cost savings and other operating results, productivity improvements, growth prospects and
outlook of Anglogold Ashanti's operations, individually or in the aggregate, including the achievement of project milestones, commencement and completion of commercial operations of certain of Anglogold Ashanti's exploration and production projects and the completion of acquisitions, dispositions or joint venture transactions, Anglogold Ashanti's liquidity and capital resources capital expenditures and the outcome and consequence of any potential or pending litigation or regulatory proceedings or environmental health and safety issues, are forward-looking statements regarding Anglogold Ashanti's operations, economic performance and financial condition. There forward-looking statements or forecasts involve known and unknown risks, uncertainties and other factors that may cause Anglogold Ashanti's actual results, performance or achievements to differ materially from the anticipated results, performance or achievements expressed or implied in these forward-looking statements. Although AngloGold Ashanti believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. Accordingly, results could differ materially from those set out in the forward-looking statements as a result of, among other factors, changes in economic, social and political and market conditions, the success of business and operating initiatives, changes in the regulatory environment and other government actions, including environmental approvals, fluctuations in gold prices and exchange rates, the outcome of pending or future litigation proceedings, and business and operational risk management. For a discussion of such risk factors, refered to Anglogold Ashanti's annual reports on Form 20-F filed with the United States Securities and Exchange Commission. These factors are not necessarily all of the important factors that could cause Anglogold Ashanti' actual results to differe materially from those expressed in any forward-looking statements. Other unknown or unpredictable factors could also have material adverse effects on future results. Consequently, readers are cautioned not to place undue reliance on forward-looking statements. AngloGold Ashanti undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except to the extent required by applicable law. All subsequent written or oral forward-looking statements attributable to AngloGold Ashanti or any person acting on its behalf are qualified by the cautionary statements herein.

Non-GAAP financial measures

This communication may contain certain "Non-GAAP" financial meaasures. Anglogold Ashanti utilises cetrain Non-GAAP performance measures and ratios in managing its business. Non-GAAP financial measures should be viewed in addition to, and not as an alternative for, the reported operating results or cash flow from operations or any other measures of performance prepared in accordance with IFRS. In addition, the presentation of these measures may not be comparable to similarly titled measures other companies may use. AngloGold Ashanti posts information that is important to investors on the main page of its website at www.anglogoldashanti.
Investors should visit this website to obtain important information about AngloGold Ashanti.

By:

/s/ M E SANZ PEREZ

EVP: Group Legal, Commercial & Governance