AngloGold Ashanti has announced plans to invest around $900m to increase its annual gold production by a minimum of 400,000 ounces (oz) by the end of the decade.
The investment will focus mainly on expanding existing mines.
The group reported a 12% rise in third-quarter earnings before interest, taxes, depreciation, and amortisation (EBITDA) to $1.57bn, supported by higher gold prices.
For the nine months ending 30 September, AngloGold Ashanti produced 2.16 million ounces (moz) of gold.
The company has set a production target of between 2.8 and 3.17moz for 2026.
Key expansion projects include work at Geita in Tanzania, Siguiri in Guinea, and Cuiabá in Brazil, with further ramp-up at the Obuasi mine in Ghana, reported Reuters .
AngloGold Ashanti plans to use existing infrastructure at these sites in an effort to maximise returns.
The largest portion of planned expenditure will go towards the Geita mine, where between $480m and $580m will be spent to increase output to 600,000oz per year by 2030, from 492,000oz reported in 2025.
At Cuiabá, the company intends to allocate between $200m and $250m to boost production by 75,000oz, adding to an expected 194,000oz from 2025.
The Siguiri mine in Guinea will see an investment of $70m to raise output by 100,000oz, after producing 289,000oz last year.
AngloGold Ashanti said it expects a real internal rate of return of over 35% for these projects, based on a long-term gold price of $3,000 per ounce.
In July 2026, Perenti subsidiary African Mining Services (AMS), operating through the AMAX joint venture (JV), announced to sell its mining fleet to AngloGold Ashanti.
"AngloGold plans $900m investment for 400,000oz production rise" was originally created and published by Mining Technology , a GlobalData owned brand.
