AngloGold Ashanti is looking to boost its global output of gold by almost 25% over the next five years.

CEO Mark Cutifani said the target is to raise global output from 4.5 million ounces of gold a year to 5.5 million ounces.

Production growth in North and South America, improved productivity in Africa and new mines in Australia are expected to drive up the company’s global output over the period.

South Africa’s contribution to AngloGold’s total gold output, however, is expected to drop to 33% from 39% over the period.

Beyond the next five years, production increases are expected from properties being explored in the Democratic Republic of the Congo and Guinea, reports timeslive.