Gold miner AngloGold Ashanti has began the yr off properly, with a 2% improve in manufacturing to 581 000 oz for the quarter ended March 31, regardless of the impression of heavy rain and flooding on output in Western Australia.
CEO Alberto Calderon says the corporate is seeing better consistency from most of its operations, together with higher efficiency from its Brazilian mines, whereas the Obuasi mine, in Ghana, continues to ramp up.
Notably, the Obuasi mine produced 54 000 oz of gold within the quarter consistent with its mine plan as mining occurred in decrease grade areas.
The corporate expects an annualised manufacturing price of 360 000 oz for the mine by the third quarter.
Within the quarter underneath evaluation, the Cubiabá, Serra Grande, Kibali and Gita mines delivered 55%, 40%, 19% and 16% extra manufacturing, respectively.
This improve was partly offset by decrease manufacturing on the Siguiri mine, which recorded a 35% lower in output owing to poor recoveries from carbonaceous ore.
The corporate additionally reported a 17% lower in output from the Tropicana mine owing to tropical cyclone-induced flooding.
Each the Siguiri and Tropicana mines have since recovered to normalised gold manufacturing ranges.
AngloGold expects its yearly manufacturing to be weighted to the second half of the yr, significantly within the fourth quarter. The corporate set its steerage at between 2.59-million and a pair of.79-million ounces in February, which might improve to between 2.65-million and a pair of.85-million ounces by 2025.
The corporate’s gold mines are primarily based in in Ghana, Guinea, Tanzania, Democratic Republic of Congo, Brazil, Argentina and Australia.
