AngloGold to invest US$900 million in expanding its existing mines - African Mining Market

AI desk brief

AngloGold Ashanti plans approximately US$900 million of investment in existing mines, targeting at least 400,000 additional ounces of annual gold production by the decade’s end. Geita’s US$480–580 million expansion targets 600,000 ounces annually by 2030, versus 492,000 ounces in 2025; planned additions at Cuiabá and Siguiri are 75,000 and 100,000 ounces, with Obuasi’s ramp-up also contributing. The company bases the projects on a long-term gold price assumption of US$3,000/oz and forecasts real internal returns above 35%. Additional supply would depend on execution over several years; the report does not establish a material near-term bullion-price effect.