AngloGold Ashanti Restored Gold Production Guidance for 2020

SEATTLE (Scrap Monster): AngloGold Ashanti reinstated its gold production forecast for 2020. It must be noted that the miner had withdrawn its guidance in March this year, following disruptions caused by Covid-19 pandemic. However, the company has trimmed its guidance, when compared with the earlier guidance provided during the month of February this year.

In a press release, the company stated that it now expects the annual mine production, including its South African mines, to range between 3.03 million ounces and 3.10 million ounces. This is slightly lower when matched with the February outlook which had predicted output to range between 3.05 million ounces and 3.30 million ounces during the full year 2020. The production, excluding the South Africa assets is expected to total around 2.80 million ounces and 2.86 million ounces.

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The company has reinstated the guidance outlook, on the back of improved operating certainty with regards to sale of its South African mining assets to Harmony Gold by the end of this month.

The production from the company’s South African mining assets totalled around 240,000 ounces during the initial nine-month period of the year.