AngloGold Ashanti said costs and production are on track to meet guidance, and that full-year 2020 free cash flow generation will be the strongest in almost a decade, enabling the miner to double the dividend pay-out ratio.

The Company’s guidance was initially withdrawn in March this year due to the uncertainty created by the COVID-19 pandemic.

The revised guidance was issued on 21 September 2020, pegging production for the year between 3.03Moz and 3.10Moz, and all-in sustaining costs between $1,060/oz and $1,120/oz.

The miner said selling its South African mines to Harmony Gold would drive its Scope 2 greenhouse gas emissions down by 45%.

AngloGold Ashanti will set emissions targets in the second half of 2021, it said in an update to the market on Friday.