Gold Output by AngloGold Ashanti Surged in H1 2022

SEATTLE (Scrap Monster): Johannesburg-based miner AngloGold Ashanti published its Interim 2022 Results report for the six-month period ending 30^th June, 2022.

The company reported solid performance during the half-yearly period. The production surged higher by 3%, in comparison with H1 2021. The rise in total cash costs was limited to 6%. Also, the company reported strong improvement in cash flow. It remains on track to achieve its full-year production guidance, said the report.

The production totalled 1.233Moz in the initial six months of 2022. The Q2 production was up from Q1 by 10%, driven by higher grades and tonnes processed. The Obuasi mine continued its ramp-up through the period. The acceleration inflation across input categories coupled with increased royalty payments contributed to the 6% rise in total cash costs to $1,068/oz.

The adjusted EBITDA A for the first half of 2022 was $864 million, compared with $876m for the first half of 2021. The free cash flow w increased to $471m for the first half of 2022, primarily supported by $549m received from the Kibali gold mine in the Democratic Republic of the Congo. The net cash inflow from operating activities was $992m in the first half of 2022, compared to $467m in the same period last year. The all-in sustaining costs (AISC) increased by 6% year-on-year.