AngloGold's International Operations Offset Local Performance

2015-08-14 11:36:15

AngloGold Reported Second-quarter Adjusted Headline Earnings Of $26m‚ Or 6c A Share‚ For The Three Months To End-June Compared With $35m‚ Or 9c‚ In The Same Period A Year Earlier.

Adjusted Earnings Before Interest‚ Tax‚ Depreciation And Amortisation Of $391m Versus $372m A Year Ago And $402m In The Previous Quarter.

The Gold Price Has Been Falling In The 46 Months Since September 2011‚ Prompting AngloGold To Sell Operations‚ Cut Jobs And Slash Costs‚ Making It One Of The World’s Lowest Cost Producers.

If The Gold Price Fell To $1‚000/oz‚ AngloGold Would "harvest" Mines Like Sadiola And Yatela‚ Said CEO Srinivasan Venkatakrishnan‚ Arguing These Were Short-life Assets.

AngloGold Reported Second-quarter Production Of 1-million Ounces At An All-in Sustaining Cost Of $928/oz.

AngloGold Has Suspended Talks With Iamgold Around The Sale Of The Sadiola And Yatela Mines After The Canadian Company Said It Was Reviewing All Expenditure In Light Of A Weak Gold Price.

AngloGold Said It Had Revised Its Annual Output Downwards To Reflect The Sale Of The Cripple Creek An Victor Mine In The US. The New Forecast Was For Production Of Between 3.8-million And 4.1-million Ounces At An All-in Sustaining Cost In The Range Of $1‚000/oz And $1‚050/oz. - RDM News Wire, BDlive