AngloGold Ashanti plans to invest approximately $900 million in expanding its existing mining operations across Africa and South America, targeting an increase of at least 400,000 ounces in annual gold production by 2030, according to CNBC Africa. The investment programme, announced on November 5, 2026, will focus on brownfield projects at its Geita mine in Tanzania, Siguiri in Guinea and Cuiabá in Brazil, alongside the ongoing production ramp-up at its Obuasi mine in Ghana. The strategy is designed to increase output by making greater use of existing infrastructure rather than developing entirely new mining operations. The announcement comes as the company reported a 12 per cent year-on-year increase in third-quarter earnings before interest, taxes, depreciation and amortisation to $1.57 billion, supported by higher gold prices.
Tanzania’s Geita mine will receive the largest allocation, with between $480 million and $580 million earmarked to increase annual production from 492,000 ounces in 2025 to approximately 600,000 ounces by 2030. At Cuiabá in Brazil, AngloGold expects to invest between $200 million and $250 million to add 75,000 ounces to annual output, while approximately $70 million will be deployed at Guinea’s Siguiri mine to increase production by 100,000 ounces annually. The company expects the projects to deliver a real internal rate of return exceeding 35 per cent, based on a long-term gold price assumption of $3,000 per ounce. AngloGold produced 2.164 million ounces in the first nine months of 2026 and maintained its full-year production guidance of between 2.8 million and 3.17 million ounces.
The expansion programme reinforces AngloGold Ashanti’s strategy of extending the productive capacity of established assets while strengthening its position in the global gold market. Its African operations remain central to that ambition, particularly as rising bullion prices increase the commercial importance of production growth, operational efficiency and mine-life extension. In Ghana, the continued ramp-up at Obuasi is expected to complement the planned expansions in Tanzania and Guinea, contributing to the company’s longer-term production ambitions. The investment also underscores the importance of Africa’s established gold-producing regions to global mining capital, with new spending expected to support operational activity, employment and related economic opportunities in host countries.
