AngloGold Ashanti reported a fivefold increase in its full-year dividend payment and added 6 Moz of new Ore Reserve, on a gross basis, as it chartered a return to growth in the coming years.
“After several years of rationalising our portfolio, we have a clear and credible path to disciplined, high-return growth,” Interim Chief Executive Officer Christine Ramon said.
“We’ve built a solid balance sheet, which allows us to continue self-funding our capital investment, while rewarding shareholders.”
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The Company aims to grow annual production from last year’s 3.05 million ounces to between 3.2 million ounces and 3.6 million ounces, by 2025.
This growth will mainly include the ramp-up of the Obuasi mine in Ghana, and incremental improvements from existing assets in the next two years.
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Beyond that, it will include the addition of new production from Colombia assuming plans for investment are approved by the Board of the Company later this year.
In fulfilling a strategic objective to improve direct returns to shareholders, the Company’s Board declared a full-year dividend of 705 ZAR cents per share, compared to a dividend of ZAR 165 cents per share in 2019.