Tough first quarter for AngloGold

ANGLOGOLD Ashanti weathered a tricky first quarter, reporting lower production and higher costs than consensus forecasts as well as delays at its key Obuasi asset, although a relatively small impact by COVID-19 on output provided some cause for optimism.

Tough first quarter for AngloGold Tough first quarter for AngloGold Tough first quarter for AngloGold Tough first quarter for AngloGold Tough first quarter for AngloGold

The headframe at AngloGold Ashanti's Obuasi mine in Ghana

Total gold production for Q1 stood at 716,000oz, down 5% year-on-year, while all-in sustaining costs (AISC) of US$1047/oz represented a rise of 4% year-on-year.

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