Key Points – Strong second-quarter financial performance: AngloGold Ashanti’s EBITDA rose 46% year over year to $2 billion, while headline earnings increased 58% to $1 billion and free cash flow climbed 36% to $727 million, driven largely by higher gold prices. – Operational and…
st pressures remain: A fatality-related suspension at Obuasi affected production, although the mine has resumed at a normalized rate and full-year production guidance was reaffirmed. Total cash costs increased 21% to $1,480 per ounce due to inflation, fuel prices, royalties, currency effects and the Obuasi disruption. – Shareholder returns and growth plans: The company declared $364 million in second-quarter dividends and may supplement dividends with share buybacks under its approved $2 billion program, pending regulatory approval
AngloGold is prioritizing organic growth across existing mines and advancing the Arthur project in Nevada and a grid connection at Sukari. – Can’t Choose Between Silver and Gold? These ETFs Hold Both AngloGold Ashanti (NYSE:AU) reported higher second-quarter earnings, cash flow and free cash flow as stronger gold prices more than offset inflation, fuel costs, currency effects and a temporary operational suspension at its Obuasi mine. Chief Executive Officer Alberto Calderon said the company generated $2 billion in EBITDA during the quarter, up 46% from a year earlier, while headline earnings rose 58% to $1 billion.
Chief Financial Officer Gillian Doran said basic earnings per share increased to $1.97 from $1.32 in the prior-year quarter. – These 3 Surging Gold & Silver Stocks Just Boosted Dividends Free cash flow rose 36% year over year to $727 million in the second quarter, supported by a 41% increase in net cash flow from operating activities to $1.4 billion. Doran attributed the improvement to cost discipline, a 35% increase in the average gold price received and improved cash receipts from Kibali. Obuasi suspension affects production Calderon opened the…