AngloGold Ashanti produced 613,000oz of gold in the third quarter of 2021 at a total cash cost of $927/oz, compared to 741,000oz, a year earlier at a total cash cost of $755/oz.
The company, however, recorded a 5% quarter-on-quarter increase in production, after adjusting for the temporary suspension of underground mining activities at Obuasi mine in Ghana.
It said steady production performances were recorded at Kibali in the Democratic Republic of Congo, Cerro Vanguardia in Argentina, Geita in Tanzania, and Sunrise Dam in Australia.
“The company’s improved production performance, excluding Obuasi, was underpinned by a 1% increase in quarter-on-quarter tonnes processed and a 4% quarter-on-quarter increase in average recovered grade,” said AngloGold Ashanti.
Meanwhile, AngloGold Ashanti’s adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) increased 5% quarter-on-quarter to $448 million in the third quarter of 2021, from $427 million in the second quarter of 2021.
The increase in adjusted EBITDA was underpinned by more gold sold and lower operating costs, partially offset by the lower gold price received and higher exploration costs.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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