The world’s fourth-largest gold miner produced 2.164 million ounces in the first nine months of 2026 and targets at least 400,000 extra ounces a year by 2030.

AngloGold Ashanti has earmarked about US$900 million for expansions at its existing mines. The investment is intended to add at least 400,000 ounces to yearly gold output by the decade’s end.

In its third-quarter operational and financial update released on Thursday, November 5, 2026, AngloGold Ashanti reported a 12 per cent rise in third-quarter earnings before interest, taxes, depreciation and amortisation (EBITDA) to US$1.57 billion, supported by stronger bullion prices.

The world’s fourth-largest gold producer by output mined 2.164 million ounces in the nine months to September 30, and maintained its full-year 2026 production guidance of between 2.8 million and 3.17 million ounces.

Earlier this year, Ghana’s Minerals Income Investment Fund (MIIF) engaged the miner in sustainable mining investment talks alongside Gold Fields and Asanko at the Investing in African Mining Indaba.

Breakdown of the US$900 million expansion plan

Rather than building new greenfield mines from scratch, the company said its multi-year capital programme will expand processing and mining capacity at existing operations.

Using US$3,000 an ounce as its long-term gold price assumption, the company forecasts a real internal rate of return above 35 per cent. The expansion funding is spread across three mines:

Geita (Tanzania): Between US$480 million and US$580 million to lift output to 600,000 ounces a year by 2030, up from 492,000 ounces in 2025.

Cuiabá (Brazil): Between US$200 million and US$250 million to add 75,000 ounces a year to its 2025 production of 194,000 ounces.

Siguiri (Guinea): About US$70 million to add 100,000 ounces a year to the mine, which produced 289,000 ounces in 2025.

What the plan means for Obuasi and Iduapriem in Ghana

In Ghana, where the company operates the underground Obuasi Mine in the Ashanti Region and the open-pit Iduapriem Mine near Tarkwa in the Western Region, AngloGold Ashanti said the ongoing underground ramp-up at Obuasi will work alongside the Geita, Siguiri and Cuiabá expansions to drive output growth through 2030.

The company stated that pairing the Obuasi ramp-up with the three brownfield expansions will use existing surface and underground infrastructure to maximise capital returns.

Both Obuasi and the Tarkwa mining enclave—where GRIDCo recognised the Obuasi and Tarkwa mines for operational safety—remain central to the miner’s West African portfolio as the Ghanaian government pushes major producers to support domestic gold refining and local value addition.

The US$900 million capital allocation did not announce a separate new expansion budget for the Iduapriem Mine, which sits adjacent to Gold Fields’ Tarkwa Mine, where traditional leaders in the Wassa Fiase area this week urged the government not to renew Gold Fields’ mining lease.

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