AngloGold Ashanti plc Mining Forum Americas 2026

I have to start with an apology. I don't have any exciting M&A for you. I'm just going to deliver a bit of a boring thing. We consistently deliver on what we say we're going to do. We're going to meet guidance on production again this year. We're controlling our cost, which is probably what we do best. What we can control, we control. Of course, we can't control royalties or inflation of oil, but the rest, we're always a little bit below. So that is it. Safety is our highest priority, like all of the great companies. There's the one in a million that happens, and we had, unfortunately, a fatality, and that's always devastating and reminds us that you just have to start every day with safety. I'll spend a little bit of time on this one.

I was thinking how mining, I always say there's always issues. Always. It's just the laws for all of us. But the scale, when you have so many tier-1 assets and the breadth of the portfolio, that's what allows us to compensate. If you look at this year, we had flooding in Iduapriem. It came from the rains, but it also came from the neighboring pit of our neighboring Tarkwa, and so it flooded our pit, our high Cut 2, and that puts you off for a little bit. We're now on recovered, but yeah, that affects us. And the fatality of Obuasi and basically the closing of the KMS shaft really affected us for this year, but it doesn't alter the medium term of getting to, we'll see it later, to 400,000 ounces in 2028.

How do we, in spite of this, manage to deliver on guidance? We plan to be on the middle point of guidance because the other eight assets are performing very well. The ones in South America are performing exceptional. Tropicana has been performing exceptional. So you balance out, and that's the benefit of a global high-quality portfolio. Let me add two things. We'll talk a lot about the Nevada one. I'll have three slides on that. That is the star project. We had many of the analysts visit, a great visit some weeks ago, but I'll talk a little bit about that. I'll talk about another one which we hadn't been talking because in Colombia, Quebradona, the copper project, was basically on standstill with the previous president that we had in Colombia that was a lunatic. Now we have a very pro-business switched on.

I just came from Colombia. I talked to everybody, which is easy over there, the vice president, minister of mines, minister of environment. We're going to fast-track this. They are as interested as we are in getting this project approved within about 18 months, maybe, let's say, 24 months. It's so developed that we probably could start production towards the end of the decade. That's a very exciting sort of news in terms of adding another tier 1. Currently, we have 70% of production is in one.