We've got news for you.

Register on BusinessLIVE at no cost to receive newsletters, read exclusive articles & more.
Register now

AngloGold Ashanti swung back into interim profit, in a busy start to the year in which it sold mines in SA, secured government agreements for a fresh attempt to mine Obuasi, and announced the departure of CEO Srinivasan Venkatakrishnan. AngloGold, the world’s third-largest gold miner by production, reported a post-tax profit of $43m for the six months to end-June from a loss of $165m in the same period a year earlier. Revenue fell to $2bn from $2.1bn but a nearly $200m reduction in the cost of sales gave it a gross profit of $410m, from $325m before. AngloGold reiterated its full-year production target of between 3.325-million and 3.45-million ounces of gold at an all-in sustaining cost of between $990/oz and $1,060/oz. Venkatakrishnan, who leaves AngloGold at the end of August to become CEO of Indian diversified miner Vedanta Resources, said he expected production for the year to come in at the top end of the forecast and for costs to fall to the lower end of the range. During the ...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now

Would you like to comment on this article?
Register (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.

Commenting is subject to our house rules.