AngloGold faces rising costs as gold production falls - Business Day

AI desk brief

AngloGold Ashanti’s third-quarter gold output fell 9% year on year to 696,000oz, while costs per ounce rose 26% to $2,170. A 21% increase in realised gold prices to $4,239/oz helped lift EBITDA 12% to $1.57bn, but free cash flow declined to $722m from $920m. Full-year production guidance remains 2.8m–3.17m ounces; the company expects fourth-quarter improvement from restored mining access and higher-grade ore. Planned expansion spending of $750m–$900m over three years is expected to add 300,000–450,000oz annually by decade-end versus 2025 levels. These developments primarily affect AngloGold’s outlook; the article establishes no near-term directional bullion effect.