Business
AngloGold Ashanti Delivers Steady Start to 2024; Gold Production1 Up +2% y-o-y; Gold Production Guidance Reconfirmed and Obuasi on Track to Achieve FY 2024 Forecast Gold Production
DENVER & LONDON & JOHANNESBURG / May 10, 2024 / Business Wire / AngloGold Ashanti plc (“AngloGold Ashanti”, “AGA” or the “Company”) today reported a 2% year-on-
About this update from Anglogold Ashanti Plc
[{"type":"text","content":"DENVER & LONDON & JOHANNESBURG / May 10, 2024 / Business Wire / AngloGold Ashanti plc (“AngloGold Ashanti”, “AGA” or the “Company”) today reported a 2% year-on-year increase in first quarter gold production1, in line with its plans and despite the previously reported impact of rains and flooding in Western Australia on gold production which contributed to a drop of about 15,000oz in production in the first quarter relative to the previous quarter. The Company reconfirmed its 2024 full-year gold production guidance and its 2024 annual gold production forecast for Obuasi in Ghana, which continues its ramp-up. “This is a good start to the year, with another strong safety result and a good overall performance from the portfolio,” said Chief Executive Officer Alberto Calderon. “We’re seeing greater consistency from most of our operations; in Brazil, both sites have shown significantly better performance, with greater production control and stability. Geita and Kibali were strong again, and Obuasi’s ramp-up remains on track.” Denver-headquartered AngloGold Ashanti continues to take steps to close the value gap that exists with its North American peers by improving safety, relative cost performance and cash conversion, while increasing the life of its key mines and prioritising successful development of major projects. The Company’s Total Recordable Injury Frequency Rate (“TRIFR”) was 1.08 injuries per million hours worked during the first quarter of 2024, compared to the most recent average (2022) of 2.66 for members of the International Council on Metals & Minerals (“ICMM”). No fatalities were recorded at mines operated by the Company in the first three months of 2024, for the eleventh consecutive quarter. Gold production1 was 2% higher year-on-year at 581,000oz for the first quarter of 2024, compared to 572,000oz for the first quarter of 2023, driven mainly by higher recovered grades, and partly offset by lower tonnes processed. Strong improvements in gold production versus the first quarter of last year were recorded at Cuiabá (AGA Mineração) (+55%) and Serra Grande (+40%), where initiatives have been taken to improve overall performance, as well as at Kibali (+19%) and at Geita (+16%). This increase in gold production was partly offset by lower gold production at Siguiri (-35%), where carbonaceous ore in the Bidini pit...