AngloGold Ashanti said today it is reinstating guidance due to more production clarity and an asset sale.
The company said operating certainty has improved amid the COVID-19 pandemic. The company is also concluding the sale of its South African assets at the end of this month.
Production is expected to range between 3.03 million to 3.1 million gold ounces in 2020. The all-in-sustaining cost will fluctuate between $1,060 to $1,120 per ounce.
The company withdrew guidance in late March of this year.
“The Cerro Vanguardia mine in Argentina, Serra Grande in Brazil and all South African operations were ordered to close for varying periods, while border closures slowed down the Obuasi Redevelopment Project.”
“All subsequently returned to full production, whilst the completion date for the Obuasi project was moved out by three months to the end of the first quarter next year and it remains on track to meet that schedule,” wrote the company.
