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Dec 31, 2024
AngloGold Ashanti Q4 2024 Earnings Report
AngloGold Ashanti's Q4 2024 earnings were significantly boosted by higher gold prices and strong operational performance, leading to a substantial increase in free cash flow and adjusted EBITDA.
Key Takeaways
AngloGold Ashanti delivered significant year-on-year gains in earnings and free cash flow in Q4 2024, driven by the strongest gold production period from its managed operations and effective cost control. The company's balance sheet strengthened, and a more generous dividend policy was approved.
Free cash flow increased by 33% year-on-year to $389 million in Q4 2024.
Adjusted EBITDA rose by 54% year-on-year to $884 million in Q4 2024.
Group gold production increased by 2% year-on-year to 750,000 ounces in Q4 2024.
Total cash costs per ounce increased by 9% year-on-year to $1,144/oz in Q4 2024.
AngloGold Ashanti
AngloGold Ashanti
AngloGold Ashanti Revenue by Segment
AngloGold Ashanti Revenue by Geographic Location
Revenue by Segment
Africa Revenue
CapyFin.comAustralia Revenue
CapyFin.comAmericas Revenue
CapyFin.comRevenue by Geographic Location
Africa Revenue
CapyFin.comAustralia Revenue
CapyFin.comAmericas Revenue
CapyFin.com Forward Guidance
AngloGold Ashanti provides updated 2025 guidance, forecasting increased gold production and stable cost metrics, supported by the successful integration of Sukari and continued capital discipline.
Positive Outlook
- Gold production is forecast to range between 2,900,000oz and 3,225,000oz in 2025, indicating growth.
- Total cash costs for the group are forecast to remain within the guidance range of $1,125/oz to $1,225/oz, reflecting continued benefits from the Full Asset Potential review program and Sukari integration.
- Managed operations are expected to operate at an AISC ranging from $1,600/oz to $1,725/oz, indicating cost stability.
- Sustaining capital expenditure is expected to grow from 2024 due to modest increases in stay-in-business capital and the full year of Sukari.
- The company continues to enforce capital and cost discipline while prioritizing safety, health, and well-being of employees and host communities.
Challenges Ahead
- Non-sustaining capital expenditure for 2025 is expected to increase from 2024 due to additional investment in North Bullfrog and mining development at Siguiri and Tropicana, and the inclusion of Sukari for the full year.
- Forecasts assume no operational or labor interruptions or power disruptions, which could impact performance.
- Other unknown or unpredictable factors, or factors outside the Company's control, including inflationary pressures on its cost base, could materially affect future results.
- Actual results could differ from guidance, and any deviations may be significant.
- The company's ability to achieve its guidance depends on various factors, including economic, social, political, and market conditions, as well as regulatory environment changes.
Revenue & Expenses
Visualization of income flow from segment revenue to net income