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Arab Finance: AngloGold Ashanti reported a 3% year-on-year (YoY) decline in gold production at Egypt’s Sukari Gold Mine during the first quarter (Q1) of 2026, according to the company’s quarterly report.
The decrease was mainly attributed to a 27% YoY drop in recovered grade, driven by lower mined grades from underground operations that were partially offset by a 10% YoY increase in tons treated at the processing plant.
Sukari’s gold production reached 113,000 ounces in Q1 2026, compared to 117,000 ounces in Q1 2025.
Total cash costs rose by 34% to $1,106 per ounce in the first three months of 2026, compared to $826 per ounce a year earlier. This surge was driven by lower production levels, a drawdown in metal inventories, higher royalties linked to elevated gold prices, and rising labor and maintenance costs.
In 2025, the Sukari mine produced 500,000 ounces of gold, up by 4% from 481,000 ounces in 2024. This growth was supported by higher ore throughput, as well as improved equipment availability and utilization.
In Q4 2025, gold production from the Sukari mine fell by 5% to 119,000 ounces from 125,000 ounces in Q4 2024. Total cash cost during the three months was $841 per ounce.
