AngloGold Ashanti reports that gold output from its operations fell by 1% to 584,000 ounces for the three months ending March 31, 2023, from 588,000 ounces the previous year.
It said that gold output decreased at the Kibali, Siguiri, Tropicana, AngloGold Ashanti Mineraço, and Serra Grande operations owing to factors such as lower quality ore mined, low metallurgical recoveries, and low tonnes of ore processed.
However, greater gold production from the Iduapriem, Obuasi, Geita, and Cerro Vanguardia operations offset some of the reduced output.
Meanwhile, AngloGold Ashanti's product sales revenue fell by $24 million to $1,03 billion in the three months ended March 31, 2023.
The decline in product sales revenue was mostly attributable to a fall in gold income and by-product revenue.
Gold income fell by $9 million to $1 billion in the three months under review.
The fall in gold income was related to fewer ounces sold, which was somewhat offset by an increase in the average gold price received of $14 per ounce.
Gold sales fell by 7,000 ounces from 524,000 ounces in the three months ended 31 March 2022 to 517,000 ounces in the three months ended 31 March 2023, resulting in a $16 million fall in gold revenue.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
