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Meanwhile, adjusted net debt declined to $765 million from $878 million, continuing AngloGold's track record of improving its leverage ratios, and no longer being in a similar position as Kinross () as highly leveraged miner.
Moving over to costs and margins, AngloGold's all-in sustaining costs rose substantially in Q1, up 15% from $1,405/oz to $1,619/oz.