0001973832-26-000089
SEC filingAngloGold Ashanti reported record free cash flow of $1.2bn and EBITDA of $2.3bn for Q1 2026, driven by higher gold prices and steady operations.
AngloGold Ashanti delivered a record quarter, with free cash flow surging 190% year-over-year to $1.2 billion, driven by a 69% increase in the average gold price received to $4,863/oz. EBITDA rose 130% to $2.3 billion, and headline earnings jumped 187% to $1.3 billion (252 cents per share). The company swung from net debt of $755 million a year ago to a net cash position of $868 million, reflecting strong cash generation and disciplined capital allocation. Management declared an interim dividend of 116 cents per share, up from 12.5 cents in Q1 2025, and announced a proposed $2.0 billion share repurchase program, subject to shareholder approval. Gold production was essentially flat at 724,000 ounces, with managed operations up 1% to 666,000 ounces. Total cash costs rose 14% to $1,391/oz due to higher royalties and inflation, partially offset by $22/oz in structural cost savings from the Full Asset Potential program. All-in sustaining costs increased 19% to $1,955/oz. The company also highlighted the Arthur Gold Project in Nevada, which reported a pre-feasibility study with 4.9 million ounces of probable reserves and strong economics. Full-year 2026 guidance remains unchanged. A fatal contractor incident at Obuasi in April 2026 was disclosed, with an investigation underway.