AngloGold Ashanti Production Falls 7% as Free Cash Flow Rises

AngloGold Ashanti's gold production fell 7% in the second quarter from a year earlier, while free cash flow climbed 36%, putting output and cash generation on opposite tracks.

The company produced 744,000 ounces in the quarter ended June 30, 2026, compared with 804,000 ounces in the same quarter of 2025. First-half production totaled 1.468 million ounces, down 2% year over year on a basis excluding Serra Grande.

Second-quarter free cash flow, a non-GAAP measure, was $727 million, up from $535 million a year earlier. For the first half, it reached $1.895 billion, compared with $938 million in the first half of 2025.

AngloGold Ashanti reaffirmed its 2026 production guidance of 2.80 million to 3.17 million ounces. The company produced 3.09 million ounces in 2025, a total within the current guidance range.