AngloGold manages to curb damaging effects of inflation
Higher output and operational efficiency help balance galloping prices of chemicals and explosives
05 August 2022 - 08:28
UPDATED 07 August 2022 - 17:16
Precious metals miner AngloGold Ashanti has reported a double-digit fall in its first-half profit, hit by climbing input costs such as labour, chemicals and explosives.
Headline earnings fell 17.35% to $300m (R4.98bn) in the six months to end-June, the miner said on Friday, despite a 3% rise in production to 1.233-million ounces. Average prices rose 4% in dollar terms, though this also resulted in higher royalty payments. Total cash costs rose 6%. ..
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