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Total cash costs
Gold Institute Industry Standard
All figures are in Rand millions unless otherwise stated
South African Operations
Total Mine
Operations Total
Operating costs (1) March 2006 2,573.4 1,704.9
December 2005 2,541.7 1,732.1
Financial year to date 7,572.4 5,108.6
Gold-in-process and March 2006 (17.4) -
inventory change* December 2005 (14.5) -
Financial year to date (20.4) -
Less: Rehabilitation
costs March 2006 9.8 9.4
December 2005 9.7 9.4
Financial year to date 29.3 28.2
Production taxes March 2006 8.7 8.7
December 2005 8.3 8.3
Financial year to date 25.8 25.8
General and admin March 2006 87.1 48.5
December 2005 89.7 55.1
Financial year to date 268.9 160.4
Cash operating costs March 2006 2,450.4 1,638.3
December 2005 2,419.5 1,659.3
Financial year to date 7,228.0 4,894.2
Plus: Production
taxes March 2006 8.7 8.7
December 2005 8.3 8.3
Financial year to date 25.8 25.8
Royalties March 2006 43.4 -
December 2005 35.9 -
Financial year to date 111.7 -
TOTAL CASH COSTS (2) March 2006 2,502.5 1,647.0
December 2005 2,463.7 1,667.6
Financial year to date 7,365.5 4,920.0
Plus:
Amortisatio
n* March 2006 348.9 153.0
December 2005 344.4 159.1
Financial year to date 1,021.2 453.3
Rehabilitation Marc 2006 9.8 9.4
December 2005 9.7 9.4
Financial year to date 29.3 28.2
TOTAL PRODUCTION COSTS (3) March 2006 2,861.2 1,809.4
December 2005 2,817.8 1,836.1
Financial year to date 8,416.0 5,401.5
Gold sold - thousand
ounces March 2006 1,096.5 646.4
December 2005 1,105.4 697.6
Financial year to date 3,261.9 1,990.8
TOTAL CASH COSTS March 2006 372 415
- US$/oz December 2005 341 366
Financial year to date 353 386
TOTAL PRODUCTION COSTS March 2006 425 456
- US$/oz December 2005 390 403
Financial year to date 403 424
TOTAL CASH COSTS EXCLUDING ORE RESERVE DEVELOPMENT COSTS
(IN LINE WITH PEER GROUP REPORTING)
TOTAL CASH COSTS (2) March 2006 2,502.5 1,647.0
December 2005 2,463.7 1,667.6
Financial year to date 7,365.5 4,920.0
Less: March 2006 184.8 184.8
Ore reserve development
costs December 2005 194.3 194.3
Financial year to date 564.5 564.5
ADJUSTED TOTAL CASH COSTS March 2006 2,317.7 1,462.2
December 2005 2,269.4 1,473.3
Financial year to date 6,801.0 4,355.5
Gold sold - kilograms March 2006 34,104 20,106
December 2005 34,381 21,697
Financial year to date 101,457 61,922
Gold sold - thousand
ounces March 2006 1,096.5 646.4
December 2005 1,105.4 697.6
Financial year to date 3,261.9 1,990.8
ADJUSTED TOTAL CASH COSTS March 2006 67,960 72,725
- R/kilogram December 2005 66,007 67,903
Financial year to date 67,033 70,338
ADJUSTED TOTAL CASH COSTS March 2006 344 368
- US$/oz December 2005 314 323
Financial year to date 326 342
Driefontein Kloof
Operating costs (1) March 2006 680.5 615.6
December 2005 674.6 648.3
Financial year to date 2,011.1 1 ,888.6
Gold-in-process and March 2006 - -
inventory change* December 2005 - -
Financial year to date - -
Less:
Rehabilitat
ion costs March 2006 2.8 4.1
December 2005 2.8 4.1
Financial year to date 8.4 12.3
Production taxes March 2006 4.1 3.3
December 2005 3.7 3.7
Financial year to date 11.9 10.8
General and admin March 2006 20.4 17.5
December 2005 22.8 20.6
Financial year to date 66.5 59.0
Cash operating costs March 2006 653.2 590.7
December 2005 645.3 619.9
Financial year to date 1,924.3 1 ,806.5
Plus:
Production
taxes March 2006 4.1 3.3
December 2005 3.7 3.7
Financial year to date 11.9 10.8
Royalties March 2006 - -
December 2005 - -
Financial year to date - -
TOTAL CASH COSTS (2) March 2006 657.3 594.0
December 2005 649.0 623.6
Financial year to date 1,936.2 1 ,817.3
Plus:
Amortis-
ation* March 2006 60.9 57.7
December 2005 61.5 70.2
Financial year to date 183.7 186.2
Rehabilitation Marc 2006 2.8 4.1
December 2005 2.8 4.1
Financial year to date 8.4 12.3
TOTAL PRODUCTION
COSTS (3) March 2006 721.0 655.8
December 2005 713.3 697.9
Financial year to date 2,128.3 2 ,015.8
Gold sold - thousand
ounces March 2006 284.5 207.1
December 2005 290.1 252.6
Financial year to date 864.4 678.0
TOTAL CASH COSTS March 2006 376 467
- US$/oz December 2005 343 378
Financial year to date 350 419
TOTAL PRODUCTION COSTS March 2006 413 516
- US$/oz December 2005 377 423
Financial year to date 385 465
TOTAL CASH COSTS (2) March 200 6 657.3 594.0
December 200 5 649.0 623.6
Financial year to date 1,936.2 1,817.3
Less: March 2006 66.7 64.0
Ore reserve
development costs December 2005 72.1 69.0
Financial year to date 212.8 193.8
ADJUSTED TOTAL CASH
COSTS March 2006 590.6 530.0
December 2005 576.9 554.6
Financial year to date 1,723.4 1,623.5
Gold sold - kilograms March 2006 8,849 6,440
December 2005 9,022 7,857
Financial year to date 26,886 21,089
Gold sold - thousand
ounces March 2006 284.5 207.1
December 2005 290.1 252.6
Financial year to date 864.4 678.0
ADJUSTED TOTAL CASH
COSTS March 2006 66,742 82,298
- R/kilogram December 2005 63,944 70,587
Financial year to date 64,100 76,983
ADJUSTED TOTAL CASH
COSTS March 2006 338 417
- US$/oz December 2005 305 336
Financial year to date 312 374
Beatrix
Operating costs (1) March 2006 408.8
December 2005 409.2
Financial year to date 1,208.9
Gold-in-process and March 2006 -
inventory change* December 2005 -
Financial year to date -
Less: Rehabilitation costs March 2006 2.5
December 2005 2.5
Financial year to date 7.5
Production taxes March 2006 1.3
December 2005 0.9
Financial year to date 3.1
General and admin March 2006 10.6
December 2005 11.7
Financial year to date 34.9
Cash operating costs March 2006 394.4
December 2005 394.1
Financial year to date 1,163.4
Plus: Production taxes March 2006 1.3
December 2005 0.9
Financial year to date 3.1
Royalties March 2006 -
December 2005 -
Financial year to date -
TOTAL CASH COSTS (2) March 2006 395.7
December 2005 395.0
Financial year to date 1,166.5
Plus: Amortisation* March 2006 34.4
December 2005 27.4
Financial year to date 83.4
Rehabilitation Marc 2006 2.5
December 2005 2.5
Financial year to date 7.5
TOTAL PRODUCTION COSTS (3) March 2006 432.6
December 2005 424.9
Financial year to date 1,257.4
Gold sold - thousand ounces March 2006 154.9
December 2005 154.9
Financial year to date 448.4
TOTAL CASH COSTS March 2006 416
- US$/oz December 2005 391
Financial year to date 406
TOTAL PRODUCTION COSTS March 2006 455
- US$/oz December 2005 420
Financial year to date 438
TOTAL CASH COSTS (2) March 2006 395.7
December 2005 395.0
Financial year to date 1,166.5
Less: March 2006 54.1
Ore reserve development costs December 2005 53.2
Financial year to date 157.9
ADJUSTED TOTAL CASH COSTS March 2006 341.6
December 2005 341.8
Financial year to date 1,008.6
Gold sold - kilograms March 2006 4,817
December 2005 4,818
Financial year to date 13,947
Gold sold - thousand ounces March 2006 154.9
December 2005 154.9
Financial year to date 448.4
ADJUSTED TOTAL CASH COSTS March 2006 70,916
- R/kilogram December 2005 70,942
Financial year to date 72,317
ADJUSTED TOTAL CASH COSTS March 2006 359
- US$/oz December 2005 338
Financial year to date 351
International Operations
Total
Operating costs (1) March 2006 868.5
December 2005 809.6
Financial year to date 2,463.8
Gold-in-process and March 2006 (17.4)
inventory change* December 2005 (14.5)
Financial year to date (20.4)
Less: Rehabilitation costs March 2006 0.4
December 2005 0.3
Financial year to date 1.1
Production taxes March 2006 -
December 2005 -
Financial year to date -
General and admin March 2006 38.6
December 2005 34.6
Financial year to date 108.5
Cash operating costs March 2006 812.1
December 2005 760.2
Financial year to date 2,333.8
Plus: Production taxes March 2006 -
December 2005 -
Financial year to date -
Royalties March 2006 43.4
December 2005 35.9
Financial year to date 111.7
TOTAL CASH COSTS (2) March 2006 855.5
December 2005 796.1
Financial year to date 2,445.5
Plus: Amortisation* March 2006 195.9
December 2005 185.3
Financial year to date 567.9
Rehabilitation Marc 2006 0.4
December 2005 0.3
Financial year to date 1.1
TOTAL PRODUCTION COSTS (3) March 2006 1,051.8
December 2005 981.7
Financial year to date 3,014.5
Gold sold - thousand ounces March 2006 450.0
December 2005 407.8
Financial year to date 1,271.1
TOTAL CASH COSTS March 2006 310
- US$/oz December 2005 299
Financial year to date 301
TOTAL PRODUCTION COSTS March 2006 381
- US$/oz December 2005 369
Financial year to date 371
TOTAL CASH COSTS (2) March 2006 855.5
December 2005 796.1
Financial year to date 2,445.5
Less: March 2006 -
Ore reserve development costs December 2005 -
Financial year to date -
ADJUSTED TOTAL CASH COSTS March 2006 855.5
December 2005 796.1
Financial year to date 2,445.5
Gold sold - kilograms March 2006 13,998
December 2005 12,684
Financial year to date 39,535
Gold sold - thousand ounces March 2006 450.0
December 2005 407.8
Financial year to date 1,271.1
ADJUSTED TOTAL CASH COSTS March 2006 61,116
- R/kilogram December 2005 62,764
Financial year to date 61,857
ADJUSTED TOTAL CASH COSTS March 2006 310
- US$/oz December 2005 299
Financial year to date 301
Ghana
Tarkwa Damang
Operating costs (1) March 2006 344.1 123.4
December 2005 322.3 123.3
Financial year to date 984.6 370.8
Gold-in-process and March 2006 (0.7) 4 .0
inventory change* December 2005 (14.2) 4.2
Financial year to date (17.7) 2 1 .6
Less: Rehabilitation
costs March 2006 0.4 -
December 2005 0.3 -
Financial year to date 1.1 -
Production taxes March 2006 - -
December 2005 - -
Financial year to date - -
General and admin March 2006 20.1 3.0
December 2005 16.4 3.1
Financial year to date 52.2 9.0
Cash operating costs March 2006 322.9 124.4
December 2005 291.4 124.4
Financial year to date 913.6 383.4
Plus: Production
taxes March 2006 - -
December 2005 - -
Financial year to date - -
Royalties March 2006 19.8 6.5
December 2005 15.7 5.2
Financial year to date 50.4 16.9
TOTAL CASH COSTS EXCLUDING ORE RESERVE DEVELOPMENT COSTS
(IN LINE WITH PEER GROUP REPORTING)
TOTAL CASH COSTS (2) March 2006 342.7 130.9
December 2005 307.1 129.6
Financial year to date 964.0 400.3
Plus:
Amortisation* March 2006 61.5 6.1
December 2005 54.6 5.8
Financial year to date 176.6 19.1
Rehabilitation Marc 2006 0 .4 -
December 2005 0 .3 -
Financial year to date 1 .1 -
TOTAL PRODUCTION COSTS (3) March 2006 404.6 137.0
December 2005 362.0 135.4
Financial year to date 1,141.7 419.4
Gold sold - thousand
ounces March 2006 192.4 62.0
December 2005 166.6 60.2
Financial year to date 533.2 179.4
TOTAL CASH COSTS March 2006 290 344
- US$/oz December 2005 282 330
Financial year to date 282 349
TOTAL PRODUCTION COSTS March 2006 343 360
- US$/oz December 2005 333 345
Financial year to date 335 365
TOTAL CASH COSTS EXCLUDING ORE RESERVE DEVELOPMENT COSTS
(IN LINE WITH PEER GROUP REPORTING)
TOTAL CASH COSTS (2) March 2006 342.7 130.9
December 2005 307.1 129.6
Financial year to date 964.0 400.3
Less: March 2006 - -
Ore reserve development
costs December 2005 - -
Financial year to date - -
ADJUSTED TOTAL CASH COSTS March 2006 342.7 130.9
December 2005 307.1 129.6
Financial year to date 964.0 400.3
Gold sold - kilograms March 2006 5,984 1,929
December 2005 5,183 1,871
Financial year to date 16,585 5,579
Gold sold - thousand
ounces March 2006 192.4 62.0
December 2005 166.6 60.2
Financial year to date 533.2 179.4
ADJUSTED TOTAL CASH COSTS March 2006 57,269 67,859
- R/kilogram December 2005 59,251 69,268
Financial year to date 58,125 71,751
ADJUSTED TOTAL CASH COSTS March 2006 290 344
- US$/oz December 2005 282 330
Financial year to date 282 349
Venezuela
Choco 10
Operating costs (1) March 2006 14.9
December 2005 -
Financial year to date 14.9
Gold-in-process and March 2006 (5.4)
inventory change* December 2005 -
Financial year to date (5.4)
Less: Rehabilitation costs March 2006 -
December 2005 -
Financial year to date -
Production taxes March 2006 -
December 2005 -
Financial year to date -
General and admin March 2006 0.4
December 2005 -
Financial year to date 0.4
Cash operating costs March 2006 9.1
December 2005 -
Financial year to date 9.1
Plus: Production taxes March 2006 -
December 2005 -
Financial year to date -
Royalties March 2006 0.7
December 2005 -
Financial year to date 0.7
TOTAL CASH COSTS EXCLUDING ORE RESERVE DEVELOPMENT COSTS
(IN LINE WITH PEER GROUP REPORTING)
TOTAL CASH COSTS (2) March 2006 9.8
December 2005 -
Financial year to date 9.8
Plus: Amortisation* March 2006 0.2
December 2005 -
Financial year to date 0.2
Rehabilitation Marc 2006 -
December 2005 -
Financial year to date -
TOTAL PRODUCTION COSTS (3) March 2006 10.0
December 2005 -
Financial year to date 10.0
Gold sold - thousand ounces March 2006 5.4
December 2005 -
Financial year to date 5.4
TOTAL CASH COSTS March 2006 294
- US$/oz December 2005 -
Financial year to date 294
TOTAL PRODUCTION COSTS March 2006 300
- US$/oz December 2005 -
Financial year to date 300
TOTAL CASH COSTS EXCLUDING ORE RESERVE DEVELOPMENT COSTS
(IN LINE WITH PEER GROUP REPORTING)
TOTAL CASH COSTS (2) March 2006 9.8
December 2005 -
Financial year to date 9.8
Less: March 2006 -
Ore reserve development costs December 2005 -
Financial year to date -
ADJUSTED TOTAL CASH COSTS March 2006 9.8
December 2005 -
Financial year to date 9.8
Gold sold - kilograms March 2006 169
December 2005 -
Financial year to date 169
Gold sold - thousand ounces March 2006 5.4
December 2005 -
Financial year to date 5.4
ADJUSTED TOTAL CASH COSTS March 2006 57,988
- R/kilogram December 2005 -
Financial year to date 57,988
ADJUSTED TOTAL CASH COSTS March 2006 294
- US$/oz December 2005 -
Financial year to date 294
Australia #
St Ives Agnew
Operating costs (1) March 2006 292.6 93.4
December 2005 267.2 96.8
Financial year to date 804.2 289.3
Gold-in-process and March 2006 (18.2) 2 .9
inventory change* December 2005 (4.2) (0.3)
Financial year to date (18.6) (0.3)
Less: Rehabilitation
costs March 2006 - -
December 2005 - -
Financial year to date - -
Production taxes March 2006 - -
December 2005 - -
Financial year to date - -
General and admin March 2006 10.4 4.7
December 2005 8.7 6.4
Financial year to date 28.4 18.5
Cash operating costs March 2006 264.1 91.6
December 2005 254.3 90.1
Financial year to date 757.2 270.5
Plus: Production
taxes March 2006 - -
December 2005 - -
Financial year to date - -
Royalties March 2006 11.6 4.8
December 2005 10.6 4.4
Financial year to date 30.1 13.6
TOTAL CASH COSTS EXCLUDING ORE RESERVE DEVELOPMENT COSTS
(IN LINE WITH PEER GROUP REPORTING)
TOTAL CASH COSTS (2) March 2006 275.7 96.4
December 2005 264.9 94.5
Financial year to date 787.3 284.1
Plus: Amortisation* March 2006 128.1
December 2005 124.9
Financial year to date 372.0
Rehabilitation Marc 2006 -
December 2005 -
Financial year to date -
TOTAL PRODUCTION COSTS (3) March 2006 500.2
December 2005 484.3
Financial year to date 1,443.4
Gold sold - thousand ounces March 2006 134.3 55.9
December 2005 125.9 55.1
Financial year to date 380.0 173.1
TOTAL CASH COSTS March 2006 334 281
- US$/oz December 2005 322 262
Financial year to date 324 256
TOTAL PRODUCTION COSTS March 2006 428
- US$/oz December 2005 410
Financial year to date 408
TOTAL CASH COSTS EXCLUDING ORE RESERVE DEVELOPMENT COSTS
(IN LINE WITH PEER GROUP REPORTING)
TOTAL CASH COSTS (2) March 2006 275.7 96.4
December 2005 264.9 94.5
Financial year to date 787.3 284.1
Less: March 2006 - -
Ore reserve development costs December 2005 - -
Financial year to date - -
ADJUSTED TOTAL CASH COSTS March 2006 275.7 96.4
December 2005 264.9 94.5
Financial year to date 787.3 284.1
Gold sold - kilograms March 2006 4,176 1,740
December 2005 3,915 1,715
Financial year to date 11,818 5,384
Gold sold - thousand ounces March 2006 134.3 55.9
December 2005 125.9 55.1
Financial year to date 380.0 173.1
ADJUSTED TOTAL CASH COSTS March 2006 66,020 55,402
- R/kilogram December 2005 67,663 55,102
Financial year to date 66,619 52,767
ADJUSTED TOTAL CASH COSTS March 2006 334 281
- US$/oz December 2005 322 262
Financial year to date 324 256
Note: Users of the restated total cash cost number must bear in mind that this
methodology will result in higher capital expenditure and amortisation.
DEFINITIONS
Total cash costs and Total production costs are calculated in accordance with
the Gold Institute Industry standard.
(1) Operating costs - All gold mining related costs before
amortisation/depreciation, changes in gold inventory, taxation and exceptional
items.
(2) Total cash costs - Operating costs less off-mine costs, including general
and administration costs, as detailed in the table above.
(3) Total production costs - Total cash costs plus amortisation/depreciation
and rehabilitation provisions, as detailed in the table above.
* Adjusted for amortisation/depreciation (non-cash item) excluded from gold in
process change.
Average exchange rates are US$1 = R6.14 and US$1 = R6.53 for the March 2006 and
December 2005 quarters respectively. Year to date US$1 = R6.40.
# As a significant portion of the acquisition price was allocated to tenements
of St Ives and Agnew on endowment ounces and also as these two Australian
operations are entitled to transfer and then off-set tax losses from one
company to another, it is not meaningful to split the income statement below
operating profit.
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