AngloGold Ashanti’s Ghana operations recorded higher gold production in the first quarter of 2026, driven by improved performance at both Iduapriem and Obuasi mines, even as costs increased year-on-year. In Ghana, the Iduapriem Mine produced 44,000 ounces of gold at a total cash cost of $1,736 per ounce in Q1 2026, compared to 40,000 ounces …
AngloGold Ashanti Ghana mines record higher gold output in Q1 2026
AngloGold Ashanti’s Ghana operations recorded higher gold production in the first quarter of 2026, driven by improved performance at both Iduapriem and Obuasi mines, even as costs increased year-on-year.
In Ghana, the Iduapriem Mine produced 44,000 ounces of gold at a total cash cost of $1,736 per ounce in Q1 2026, compared to 40,000 ounces at $1,493 per ounce in Q1 2025. This represents a 10% increase in output.
The growth was largely attributed to a 39% increase in tonnes treated year-on-year, following the resolution of operational disruptions in Q1 2025, when a seventeen-day plant shutdown was undertaken to repair a tear in the lining of the Beposo tailings storage facility (TSF).
However, the gains were partly offset by a 22% decline in recovered grade, driven mainly by lower head grade compared to the previous year.
Total cash costs at Iduapriem rose by 16% year-on-year, reflecting higher royalties linked to increased gold prices, alongside rises in labour, reagents, and mining contractor costs. These increases were partly mitigated by a higher production base, a build-up of gold in process inventories, and lower stores costs.
At the Obuasi Mine, production increased by 15% year-on-year to 62,000 ounces in Q1 2026, compared to 54,000 ounces in Q1 2025. The improvement was primarily driven by better underground operational conditions and improved equipment availability, although lower plant recoveries led to a decline in recovered grade.
Obuasi’s total cash cost increased to $1,492 per ounce in Q1 2026 from $1,284 per ounce a year earlier.
The rise was mainly due to higher royalties linked to elevated gold prices, increased labour and mining contractor costs, higher technical services expenses due to revised rates, and increased reagent and power costs associated with greater operational activity. These were partially offset by higher production volumes and increased metal inventories.
Across AngloGold Ashanti’s Africa region, managed operations produced 422,000 ounces of gold at a total cash cost of $1,379 per ounce in Q1 2026, compared to 407,000 ounces at $1,144 per ounce in Q1 2025.
