AngloGold Ashanti (NYSE:AU), the London-headquartered gold mining major, reported a blockbuster fiscal 2025 on Friday, with free cash flow tripling to a record $2.9 billion.
The surge was driven by a powerful combination of 16% production growth, rigorous cost containment, and a record-breaking average gold price of $3,468 per ounce.
The company’s adjusted EBITDA more than doubled to $6.3 billion, as management successfully neutralized global inflationary pressures to keep total cash costs flat in real terms.
AngloGold Ashanti ended the year in a formidable financial position, boasting an adjusted net cash balance of $879 million—a stark reversal from its debt-heavy profile in previous cycles.
In a massive win for shareholders, the board declared a fourth-quarter interim dividend of $875 million (173 cents per share), bringing the total 2025 payout to a historic $1.8 billion.
This represents the highest annual distribution in the company’s history and reinforces CEO Alberto Calderon’s commitment to a cash-flow-linked dividend framework.
Meanwhile, the acquisition of the Sukari mine in Egypt and a 30% production ramp-up at Obuasi in Ghana were cited as primary engines for the year’s outperformance.