AngloGold Ashanti: Sukari Gold Mine Targets 500,000 oz Production in 2026, Backed by $177 Million Investment
CAIRO, Egypt — AngloGold Ashanti plc has announced that the Sukari Gold Mine remains firmly on track to achieve its 2026 production guidance of 500,000 ounces of gold, supported by increased capital investment and a long-term reinvestment strategy aimed at enhancing operational performance and extending the mine’s life.
AngloGold Ashanti: Sukari Gold Mine Targets 500,000 oz Production in 2026
Sukari, a joint venture between AngloGold Ashanti and the Government of the Arab Republic of Egypt, produced 232,000 ounces of gold during the first half of 2026. The performance positions the mine to meet its full-year target of 500,000 ounces, matching the record production achieved in 2025.
In line with Sukari’s mine plan, production is expected to increase significantly during the second half of 2026 as mining operations move into higher-grade ore zones and production volumes increase.
$177 Million Capital Investment in Sukari
AngloGold Ashanti and its Egyptian partner continued to strengthen their long-term commitment to Sukari, increasing capital expenditure to $177 million during the first half of 2026, compared with $125 million during the corresponding period of 2025.
The increased investment forms part of a broader reinvestment strategy designed to unlock additional value from Sukari, enhance operational efficiency and support the long-term sustainability of one of the Middle East’s largest gold mines.
A range of value-enhancing opportunities is currently being assessed, including upgrades to the mining fleet, accelerated waste stripping and improvements to the processing plant aimed at increasing gold recovery.
Sukari’s orebody also remains open, providing further opportunities for exploration to add ounces and extend the mine’s operating life.
Managing Global Cost Pressures
The global gold mining industry faced significant macroeconomic pressures during the first half of 2026, including general inflation, rising gold-price-linked royalties and higher energy costs.
Brent crude oil prices increased by 45% year-on-year during the second quarter of 2026, adding further pressure to mining operating costs.
Against this backdrop, and reflecting the significant increase in long-term capital investment, Sukari’s All-In Sustaining Cost (AISC) stood at $1,434 per ounce during the first half of 2026, compared with $1,068 per ounce during the same period of 2025.
AISC includes operating and administrative expenses, sustaining capital investment and exploration expenditure.
Higher global gold prices during the period have supported the expanded reinvestment programme and the partners’ strategy to generate sustainable long-term value from Sukari.
A Long-Term Partnership with Egypt
Since acquiring its interest in Sukari in 2024 through the acquisition of Centamin Plc, AngloGold Ashanti has worked closely with its Egyptian government partner, the Mineral Resources and Mining Industries Authority, to advance plans aimed at expanding production and extending the mine’s life for decades to come.
The Company views Sukari as a strategic long-term asset and remains focused on maximising its potential through disciplined investment, operational improvements and continued exploration.
Expanding Exploration Across Egypt’s Eastern Desert
AngloGold Ashanti’s commitment to Egypt extends beyond Sukari. The Company’s exploration team is actively exploring across the Eastern Desert, where it sees significant potential for the discovery of additional world-class gold deposits.
The Company believes Egypt offers a compelling combination of exceptional geology, highly skilled local talent, strong educational institutions and an evolving legislative and regulatory environment designed to encourage international mining investment.
AngloGold Ashanti remains committed to working with its Egyptian partners to unlock the country’s mineral potential, expand exploration activity and contribute to the sustainable growth of Egypt’s mining industry.
About AngloGold Ashanti
AngloGold Ashanti plc is an independent global gold mining company with a diversified portfolio of operations, projects and exploration activities across ten countries.
Headquartered in Denver, Colorado, the Company is focused on operational excellence, disciplined capital allocation and sustainable long-term value creation. AngloGold Ashanti has its primary listing on the New York Stock Exchange, with secondary listings on the Johannesburg Stock Exchange and the Ghana Stock Exchange.
