AngloGold Ashanti delivers $722m in free cash flow in Q3 2026
Higher gold prices supported a 12% increase in EBITDA, while operational improvements across key assets position the Group for a stronger final quarter
AngloGold Ashanti has reported $722 million in free cash flow for the third quarter of 2026, supported by higher gold prices and improved financial performance.
The Group’s EBITDA for the quarter increased by 12% year-on-year to $1.568 billion, compared with $1.4 billion in Q3 2025. This was largely supported by an increase in the average gold price received, which rose to $4,239 per ounce from $3,490 per ounce in the corresponding period last year.
Free cash flow stood at $722 million, down from $920 million in Q3 2025. The decrease was attributed to higher year-on-year tax payments, in line with improved profitability, as well as increased investment in safe and sustainable production and organic growth projects.
AngloGold Ashanti ended the quarter with a net cash position of $1.256 billion and overall liquidity of approximately $4.5 billion, providing room to continue funding its growth projects.
“Our Q3 2026 performance highlights AngloGold Ashanti’s structural quality and free cash flow generation,” said CEO Alberto Calderon. “We remain focused on operational predictability, balance sheet resilience, and delivering on our commitments.”
Operational improvements across several of the Group’s assets are also expected to support production in the final quarter of the year.
At Iduapriem, dewatering activities following flooding from a neighbouring mine earlier this year have restored full access to high-grade mining blocks. At Sukari, open-pit waste-stripping is providing access to higher-grade ore, while underground stopes at Obuasi are returning to their operational ramp-up following a fatality earlier this year.
The developments are expected to support the Group’s full-year gold production targets.
“We are well positioned to deliver a strong final quarter to achieve our full-year gold production targets while advancing our long-term, high-margin pipeline in Nevada and our brownfield assets,” Calderon said.
