AngloGold Ashanti Trebled Cash Flow from Operating Activities

SEATTLE (Scrap Monster): AngloGold Ashanti delivered solid performance during the first quarter of 2020. It bolstered its available liquidity to more than $2 billion.

The company’s cash flow from operating activities trebled during the quarter. The cash flow from operating activities surged higher by 227% to $219 million, when compared with $67 million in the year ago quarter.

The gold production dipped to 716,000 ounces, compared with 752,000 ounces in the corresponding three-month period in 2019. The decline in output due to halt in operations at its mines in Brazil, Argentina and South Africa, was offset to some extent, by robust performances from its Kibali, Geita and Iduapriem mines. In accordance with the latest update provided by the company, the South African mines that were put on care and maintenance, have resumed operations.

The company benefitted from strong bullion prices. The All-in sustaining cost (AISC) was $1,047/oz for the three months ended 31 March 2020, compared with $1,009/oz in the same period last year. The adjusted net debt at the end of the quarter was $1.6 billion, down by 10% from $1.78 billion at the end of the corresponding quarter last year.

Kelvin Dushnisky, Chief Executive, in a statement, noted that the cash flow is strong, leverage is down and that all operations are running.

YOU MAY ALSO BE INTERESTED IN:

AngloGold to Suspend Production from South Africa Gold Mines

Harmony Gold Mining to Buy AngloGold's South African Mining Assets