Local mine loses output of 4,000oz but operations in the rest of Africa put in strong performances
AngloGold Ashanti opted to keep its Argentina mines instead of selling them as the Covid-19 global pandemic cut production from the group’s first quarter.
Its Serra Grande mine in Brazil, Cerro Vanguardia in Argentina and its SA mines were interrupted during the quarter as governments in those countries took measures to slow the spread of the coronavirus. AngloGold, under the leadership of Kelvin Dushnisky, has opted to retain the Cerro Vanguardia mines, one of three big asset sales that marked the start of his tenure in September 2018.
The $300m sale of the SA assets to Harmony Gold is nearing its completion date at the end of June, and the sale of the Sadiola joint venture operation in Mali is under way. The disruptions from the pandemic were offset by strong performances in the quarter from three mines in Africa: Kibali, Geita and Iduapriem in the Democratic Republic of the Congo, Tanzania and Ghana, respectively.
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