LONDON, 09 Nov. - (ANA) - AngloGold Ashanti (AU.N), opens new tab plans to invest about $900 million to lift annual gold production by at least ​400,000 ounces by the end of the ‌decade, largely through expansion at existing mines, it said on Thursday.

 

The world's fourth-largest gold miner by output reported ​a 12% increase in third-quarter EBITDA to $1.57 ​billion, supported by higher bullion prices.

 

AngloGold produced 2.164 ⁠million ounces of gold in the nine ​months to September 30 and targets output between ​2.8 million and 3.17 million ounces in 2026.

 

AngloGold said expansion projects at Geita in Tanzania, Siguiri in Guinea and Cuiabá ​in Brazil, alongside the ongoing ramp-up at ​Obuasi in Ghana, will leverage existing infrastructure to maximise returns.

 

The ‌Geita ⁠expansion will cost between $480 million and $580 million to raise output to 600,000 ounces per year by 2030, from 492,000 ounces in 2025.

 

The Cuiabá expansion will ​cost between $200 ​million and $250 ⁠million, adding 75,000 ounces to its 194,000 ounce output from 2025.

 

Another $70 million ​will be spent to add 100,000 ounces ​at ⁠the Siguiri mine in Guinea, which produced 289,000 ounces last year.

 

Based on a long-term gold price of $3,000 ⁠an ​ounce, AngloGold expects its growth ​projects to deliver a real internal rate of return of ​more than 35%.  - (ANA) -

 

AB/ANA/09 November 2026 - - -