AngloGold Ashanti's Q2 Earnings: Production Down, Profit Up Amid Inflation Pressures

AngloGold Ashanti's Q2 2026 earnings report showed a 7% decrease in gold production due to the sale of Serra Grande and a temporary safety suspension at Obuasi. However, Basic Earnings Per Share (EPS) rose by 49% to $1.97, outperforming the increase in gold prices.

Total Cash Costs (TCC) jumped 21% year-over-year to $1,480 per ounce, largely due to inflationary pressures and higher royalties linked to gold prices. Managed Operations TCC increased by 20%, primarily because of higher fuel costs and royalties in Ghana and Tanzania.

The company also reported a 46% increase in Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) to $1.97 billion, surpassing the rise in gold prices through disciplined cost execution.