Group statement of cash flows

For the year ended 31 December
2008 2009 Figures in million Notes 2009 2008
SA Rands     US Dollars
    Cash flows from operating activities      
30,117 31,473 Receipts from customers   3,845 3,672
(24,429) (20,896) Payments to suppliers and employees   (2,500) (3,040)
5,688 10,577 Cash generated from operations 33 1,345 632
(11) – Cash utilised by discontinued operations   – (1)
739 751 Dividends received from equity accounted investments   101 78
(1,029) (1,232) Taxation paid 32 (147) (125)
(8,514) (6,315) Cash utilised for hedge buy-back costs   (797) (1,113)
(3,127) 3,781 Net cash inflow (outflow) from operating activities   502 (529)
           
    Cash flows from investing activities      
    Capital expenditure      
(5,394) (3,578) – project capital   (413) (654)
(4,452) (5,078) – stay-in-business capital   (606) (540)
301 9,029 Proceeds from disposal of tangible assets   1,142 39
79 – Proceeds from disposal of assets of discontinued operations   – 10
(769) (750) Other investments acquired   (89) (93)
382 – Proceeds on disposal of associate   – 48
– (2,646) Acquisition of associates and equity accounted joint ventures   (354) –
(38) (17) Associates’ loans advanced   (2) (4)
33 3 Associates’ loans repaid   – 4
729 680 Proceeds from disposal of investments   81 88
(49) (91) Increase in cash restricted for use   (10) (6)
538 445 Interest received   55 67
(3) (1) Loans advanced   – –
3 4 Repayment of loans advanced   1 –
(8,640) (2,000) Net cash outflow from investing activities   (195) (1,041)
           
    Cash flows from financing activities      
13,592 2,384 Proceeds from issue of share capital   306 1,722
(421) (84) Share issue expenses   (11) (54)
7,034 24,901 Proceeds from borrowings   2,774 853
(5,066) (24,152) Repayment of borrowings   (2,731) (614)
(788) (946) Finance costs paid   (111) (93)
(455) (474) Dividends paid   (56) (58)
13,896 1,629 Net cash inflow from financing activities   171 1,756
           
2,129 3,410 Net increase in cash and cash equivalents   478 186
63 (672) Translation   47 (88)
3,246 5,438 Cash and cash equivalents at beginning of year   575 477
5,438 8,176 Cash and cash equivalents at end of year 24 1,100 575

ANGLOGOLD ASHANTI Annual Financial Statements 2009