The output cuts underscore the industry’s struggle with a shortage of feedstocks caused by recent mine production setbacks.
The metal headed for a third daily decline, with copper miners also under pressure as a risk-off mood took hold in broader equity markets.
The company plans to complete a definitive feasibility study for the expanded copper project by the end of 2025.
AngloGold Ashanti is purchasing about 9 million shares and a single European investor is picking up the remainder.