AngloGold Ashanti shares staged a fightback on Thursday as investors digested its interim production numbers and a return to profit after closing and selling mines in SA. After an early morning dip of more than 5%, AngloGold’s shares closed up 1.4%. AngloGold said it expected to report on August 20 interim headline earnings per share (HEPS) of between $0.22 and $0.26 from the matching period’s headline loss per share of $0.22. AngloGold said that it also expected to report basic earnings per share despite $86m impairments and a $67m “derecognition” of its Mine Waste Solutions uranium plant in SA, which was unlikely to be used under current market conditions. As part of its disposal and closure process in SA, AngloGold sold its Nufcor uranium processing plant to Harmony Gold. With uranium prices trading at around the $25/pound mark there is little incentive to focus on uranium production. Gold production for the first half of AngloGold’s financial year is expected to decline to 1.629...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.