The global gold mining company, AngloGold Ashanti, reported more than a 100 per cent increase in both its earnings and free cash flow in the second quarter of 2025 (Q2 2025) compared to the same period last year. This was driven by a hike in average gold price, continued cost discipline and a 21% increase in gold production, according to a company statement.
The company, which is the operator of Egypt’s Sukari Gold Mine, reported a 151% year-on-year surge in headline earnings, reaching $639 million in Q2 2025. Free cash flow also jumped by 149% YoY to $535 million. Net cash inflow from operating activities climbed to $1.02 billion in Q2 2025, marking a 142% YoY increase. The average gold price received per ounce rose significantly to $3,287, up from $2,330 in the same period last year.
“This is another strong result that again demonstrates our focus on cost control and the positive momentum we are building across the business,” said CEO Alberto Calderon. “We’re reaping the benefits of consistent production and cash flow growth, supported by disciplined capital allocation.”
The company said on Friday that its managed operations drove the outperformance for Q2 2025, with gold production up 25% YoY to 729,000 ounces (oz), compared to 581,000oz in Q2 2024. The aforementioned operations are Obuasi, in Ghana, and Geita, in Tanzania, and Egypt’s Sukari gold mine.
The Sukari gold mine posted an increase in production to reach 129,000 oz in Q1 2025, compared to 120,000oz during the same period last year, “firmly establishing its role as one of the top producers in the portfolio,” noted the statement.
In addition, the mine performed in line with expectations, delivering gold production of 246,000oz in the first half of 2025 (H1 2025), which is 9 % higher than its level in the same period of last year, driven primarily by higher float feed grades and improved plant recoveries.
In July 2025, AngloGold, the Mineral Resources and Mining Industries Authority, and the Egyptian Minister of Petroleum and Mineral Resources signed a new Model Mining Exploitation Agreement (MMEA), covering the exploration license held by Centamin Central Mining S.A.E. The license will be issued as a special law and signed by the relevant parties in Q4 2025.
In May, the company completed the sale of its Archean-Birimian Contact (ABC) and Doropo exploration assets in Côte d’Ivoire. A month later, it announced plans to divest the Serra Grande mine in Brazil.
At the same time, AngloGold Ashanti ramped up development activities in Nevada’s Beatty District, including a proposed acquisition of Augusta Gold. The move aims to strengthen the company’s foothold in one of the most promising emerging gold regions in the US and support the rollout of a unified regional development strategy.
