AngloGold Ashanti Backs Full-Year Target After Production Improves
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)
Copyright (c) 2023 Dow Jones & Company, Inc.-
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