AngloGold Ashanti Backs Full-Year Target After Production Improves
10 November 2023 - 3:47AM
Dow Jones News
By Christian Moess Laursen
AngloGold Ashanti reaffirmed its full-year production guidance
for 2023 after third-quarter gold production improved versus the
second quarter.
The South African gold miner said Thursday its third-quarter
gold production rose 3% on quarter to 673,000 ounces due to the
higher amount of ore processed, partly offset by lower overall
recovered grades.
The increase continues the recovery from setbacks faced in the
first and second quarters of this year at its mines in Brazil and
Guinea, respectively.
However, for the year's first nine months, gold production is
lower than in the prior-year's similar period, with 1.91 million
ounces against 1.97 million ounces.
"Gold production has improved in the third quarter of 2023 and
is expected to step up again over the remainder of the year, in
line with our guidance," Chief Executive Alberto Calderon said.
AngloGold Ashanti is targeting gold production between 2.45
million and 2.61 million ounces, with all-in sustaining costs
between $1,405 and $1,450 per ounce.
Write to Christian Moess Laursen at christian.moess@wsj.com
(END) Dow Jones Newswires
November 09, 2023 11:32 ET (16:32 GMT)
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