AngloGold Ashanti announces $900 million brownfield expansion to add up to 450,000 ounces by 2030
+1 new source since this summary was written
AngloGold Ashanti said it will spend up to $900 million on expanding four existing mines – Geita in Tanzania, Siguiri in Guinea, Cuiabá in Brazil and the ramp‑up at Obuasi in Ghana – to lift annual gold output by roughly 300,000‑450,000 ounces by 2030. The projects are expected to generate internal rates of return above 35 %. The company also reported a 12 % rise in Q3 2026 EBITDA to $1.568 billion and disclosed a fatal rock‑fall at its Sukari underground mine in August.
Why it matters
The capital program should increase future gold supply and cash flow, supporting the company’s dividend and debt‑service capacity. The fatal incident may raise safety‑related costs and scrutiny at the affected sites.
Key facts
- 1The total planned investment is up to $900 million. mining.com
- 2Geita is slated to receive as much as $580 million, which is intended to boost its production to 600,000 ounces per year by 2030. mining.com
- 3Cuiabá’s expansion budget is set between $200 million and $250 million, targeting an additional roughly 75,000 ounces annually. mining.com
- 4Siguiri will be allocated $70 million to add about 100,000 ounces of output. mining.com
- 5Q3 2026 EBITDA increased 12 % year‑on‑year to $1.568 billion. mining.com
- 6All‑in cash cost rose to $1,534 per ounce. geomechanics.io
Summary written by AlphAI AI Desk from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.