by: Andrea Spinelli Barrile | February 29, 2024
Mining group AngloGold Ashanti produced 1.54 million ounces of gold in its Africa operations in the year 2023. This is a decline of 6% year-on-year. This is learned from the preliminary report published by the company.
The decline in production attributable to AngloGold is explained by the performance of the Geita, Siguiri and Obuasi mines:. Compared to 2022, gold production fell 7% at the Geita mine in Tanzania to 485,000 ounces, 224,000 ounces were produced at Obuasi in Ghana, down 10% year-on-year, and 221,000 ounces at Siguiri in Guinea, down 21%. Increases of 8% at Ghana’s Iduapriem mine (268,000 ounces) and 2% at the Kibali mine in the Democratic Republic of Congo (343,000 ounces) were not enough to compensate.
Despite the decline in African gold production, the continent still accounts for more than half of the production attributable to AngloGold Ashanti: the company produced 2.59 million ounces in 2023, in line with its guidance but down 3% on annual basis. The 2024 forecast is also revised downward, with a forecast of 2.2-2.4 million ounces, compared to 2.5-2.7 million ounces in the initial mining plan, particularly due to the implementation of the maintenance regime, in August 2023, of the Córrego do Sítio mine in Brazil.
AngloGold Ashanti controls 45% of the Kibali mine, 85% of the Siguiri mine and 100% of the Geita, Obuasi and Iduapriem mines. It also owns all or most of the shares in gold mines in Australia, Brazil and Argentina.
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