Three-quarters of Anglogold Ashanti shareholders approved donations to political parties.
Image: Anglogold Ashanti
More than 75% of AngloGold Ashanti shareholders voted in favour of allowing the mining group to make political donations of up to £100,000 (R2.2 million) according to the results of the company’s annual general meeting.
The resolution, which authorises the company and its subsidiaries to make political donations and incur political expenditure where permitted by law, received 75.31% support from shareholders, while 24.69% voted against it.
It was the most contested resolution at the AGM, drawing the highest level of shareholder opposition of all measures tabled.
The company did not specify in the resolution whether any future donations would relate to South African political parties.
This comes as the 2026 South African municipal elections will be held on 4 November across South Africa, to elect councils for all district, metropolitan and local municipalities in each of the country's nine provinces. A total of 508 political parties registered to participate in the elections.
AngloGold Ashanti’s political donations and political activities policy states that the company “may at its own discretion and in line with this policy make political donations” in countries where it operates.
The policy, approved by the board in 2014, states that any political donation must comply with local laws, be supported by “a strong business case”, and may not be made “in order to seek any advantage for AngloGold Ashanti”.
It further states that political donations exceeding $100,000 (R1.6 million) require board approval following consideration by the company’s executive committee and its Social, Ethics and Sustainability Committee.
According to the policy, which seems to be the latest, AngloGold Ashanti committed to publicly disclosing political donations in its annual reporting and through any other disclosure required by law.
The latest annual report places strong emphasis on governance, ethics and transparency, describing these as central to maintaining stakeholder trust and the company’s “social licence to operate”.
In the report, chairman Jochen Tilk said AngloGold Ashanti operates in an environment marked by “political volatility”, geopolitical tension and increasing scrutiny around governance and stakeholder accountability.
The company also identified “upholding business ethics and transparency” and “understanding and responding to changing socio-economic and political contexts” among its material governance and risk priorities.
“Directors are also required to complete online compliance training. In 2025, this included Code of Business Principles and Ethics, values, anti-bribery and anticorruption, payments to government officials, political donations and activities, gifts and hospitality, engagement of third parties and intermediaries, conflicts of interest, reporting wrongdoing and Speak-up,” the annual report said.
The miner’s 2025 report also stated that it had not “made any political donations, or incurred any political expenditure” in the 2025 financial year.
Political funding has become increasingly scrutinised in South Africa following the introduction of disclosure requirements under the Political Party Funding Act, which compels parties to declare qualifying private donations.
Historical records show that companies in the mining sector have previously made political donations across party lines. A 2021 report compiled by My Vote Counts references publicly reported donations involving several mining houses, including AngloGold, Anglo American and Anglovaal Minerals.
According to the My Vote Counts, AngloGold, now AngloGold Ashanti, was reported in 2004 to have “set aside” R3.2 million for donations to political parties, with the Democratic Alliance allocated R960,000.
The IFP and UDM were apparently each offered R640,000 in the same year, while COPE received R500,000 in 2009, the My Vote Counts report said.
The report references historical publicly reported donations and does not indicate current political funding by AngloGold Ashanti.
Separately, shareholders overwhelmingly supported the remainder of the company’s AGM resolutions, including director re-elections, auditor appointments and the remuneration report, although director Albert Garner’s re-election attracted more than 22% opposition.
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