AngloGold Ashanti trebles Q1 cashflow from operating activities

Miner AngloGold Ashanti has reported a strong increase in Q2 cashflow despite production losses.

A diverse portfolio of 14 mines in nine countries helped limit the impact of COVID-19- related stoppages to 11,000 ounces during the first quarter of 2020.

First quarter free cashflow before investment in growth projects – the measure on which dividend payments are based – rose 231 percent yearon-year to $94 million. Cashflow from operating activities rose by

227 percent from $67 million to $219 million over the same period.

Chief Executive Officer Kelvin Dushnisky said: “We’re making good progress on achieving our core strategic objectives – including asset sales and the redevelopment of Obuasi – and have worked hard to ensure we have the liquidity to weather potential disruptions.”