JOHANNESBURG (Reuters) – AngloGold Ashanti, Africa’s top gold producer, reported a narrower loss for the second quarter on Monday, as its domestic mines led bullion production higher and it slashed costs.
AngloGold said adjusted headline earnings for the April-June quarter totalled a loss of $4 million, or 1 U.S. cents per share, compared with a loss of $135 million in the same period a year earlier.
Production was 1.098 million ounces, an increase of 17 percent. This was ahead of its forecast and a 4 percent advance from the prior quarter.
Production at AngloGold’s South African mines was assisted by a first-time contribution from its new Tropicana and Kibali mines.
Costs were cut mostly in marketing and explorations, resulting in an improvement in cash flow, the company said.
For the full SENS report, Click Here
