AngloGold Ashanti posted a record in the third quarter of 2025, with free cash flow rising 141 per cent to $1.4 billion ($US920 million), supported by strong gold prices and disciplined cost management.
The company declared a quarterly dividend of $US460 million, taking total dividends for the year to $US927 million.
“This is another record quarter for cash generation and another healthy dividend declaration,” AngloGold Ashanti chief executive officer Alberto Calderon said. “Cash costs again stayed flat in real terms, which means we can capture these stronger margins and show capital discipline by passing the benefit on to shareholders.”
In Australia, gold production reached 125,000 ounces for the third quarter, at a total cash cost of $US1638 per ounce, broadly in line with expectations.
Year-to-date to September, Australian operations produced 386,000 ounces of gold at $US1564 per ounce, supported by improved recovered grades and operational discipline.
At Sunrise Dam, quarterly output was 52,000 ounces, with total cash costs of $US1844 per ounce. While lower underground tonnes mined and grade affected production, improved recoveries helped mitigate the impact. Year-to-date, Sunrise Dam produced 174,000 ounces at $US1646 per ounce, maintaining a solid performance despite operational challenges.
Tropicana delivered 73,000 ounces in for the quarter at $US1364 per ounce. The mine benefited from higher open-pit grades and efficient processing of ore, helping to sustain production. Year-to-date, Tropicana produced 212,000 ounces at $US1372 per ounce, largely consistent with 2024.
Overall, Australian operations showed resilience, with total cash costs per ounce decreasing 3 per cent year-on-year for the year to date in September, reflecting the benefits of higher production volumes and effective management of metal inventories.
Production growth was supported by improvements in recovered grades and mine call factors, highlighting ongoing operational efficiencies.
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