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AngloGold Ashanti lowers 2023 Brazil guidance due to safety measures

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AngloGold Ashanti lowers 2023 Brazil guidance due to safety measures

AngloGold Ashanti expects lower production this year because of obligations to implement tighter tailings dams safety measures in Brazil.

The South African miner, which operates the AGA Mineração and the Serra Grande complexes in Minas Gerais and Goiás states, expects to produce between 2.45Moz and 2.60Moz, according to a statement. Last year, it produced 2.74Moz and 2.47Moz in 2021.

The company attributed the lower guidance to suspensions at its Cuiabá plant in Minas Gerais, as filtered tailings deposition in the Calcinados storage facility and gold concentrate processing at the Quartz plant had to be stopped.

"Tailings-related regulations introduced in Brazil in 2022 required AngloGold Ashanti Brazil to conduct a new detailed risk assessment of its portfolio of tailings storage facilities (TSF). The regulations required this new risk assessment be conducted with oversight from an independent expert," AngloGold Ashanti said.

"One of the findings of this review was to increase buttressing of the Calcinados TSF to align its post liquefaction factor of safety with the standard applied in Canada, which is currently considered the best practice," it added.

Brazilian authorities and companies increased safety requirements after tailings dam collapses in 2015 and 2019 caused 300 deaths and environmental damage.

In 2015, a dam owned by Vale-BHP JV Samarco collapsed, and in 2019, one that was operated by Vale.

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