In the first quarter, AngloGold Ashanti Ltd. achieved total output of 861,000ounces from continuing operations at an all-in sustaining cost of US$860 perounce, compared to 928,000 ounces at US$920 per ounce a year ago, the companysaid May 9.
The lower production was due mainly to planned reductionsfrom the Obuasi, Tropicana and Morila mines, as well as an unanticipated drop inproduction from the Kibali joint venture.
Adjusted EBITDA in the quarter was US$378 million, comparedto US$402 million in the prior-year quarter, due to a 3% decline in therealized gold price and reduced production.
Production from South Africa remained relatively flat yearover year at 236,000 ounces, while all-in sustaining costs improved 16% toUS$919 per ounce. Output at the flagship Mponeng mine increased 34% year over year.
Output from international operations dropped to 625,000ounces due to the June 2015 sale of the Cripple Creek and Victor mine, which contributed 41,000ounces in the first quarter of 2015, while the Obuasi mine in Ghana, whereproduction is halted,contributed 17,000 ounces in the period. All-in sustaining costs for theinternational portfolio improved to US$822 per ounce in the three months, fromUS$836 per ounce in the same year-ago period.
The company' free cash flow totaled US$70 million, comparedto the outflow of US$40 million a year ago.
AngloGold reiterated its full-year guidance of production of3.6 million ounces to 3.8 million ounces, total cash costs of US$680 per ounceto US$720 per ounce, and all-in sustaining costs of US$900 per ounce to US$960per ounce.