AngloGold Ashanti: Brazil operations turnaround

Gold production in the first half of 2024 from the Company’s Americas segment – AngloGold Ashanti Mineração (Cuiabá), Serra Grande and Cerro Vanguardia – increased 10% year-on-year to 257,000oz from 234,000oz in the first half of 2023.

Total cash costs per ounce from the business unit improved 18% year-on-year to $974/oz in the first half of 2024 from $1,185/oz in the same period last year.

AISC per ounce in the region improved 27% to $1,414/oz in the first half of 2024 from $1,932/oz in the same period last year. The region recorded a strong turnaround in free cash flow for the first six months of 2024, recording an inflow of $149m from an outflow of $127m in the same period last year.

“We took decisive steps last year to restructure our business in Brazil after a sustained period of losses,” Calderon said. “That created the foundation for this step-change in operating performance, which we will look to improve further.”