JAMIE CARR: AngloGold Ashanti is world-class
Operating efficiencies and a strong gold price have helped it put smiles on the faces of shareholders
It’s no major surprise that another gold miner steps up to take a bow this week, given the strength of the gold price and the complete lack of excitement in most other areas of the economy. AngloGold Ashanti has put in a typically assured performance, with operating efficiencies helping it to maximise the benefits of the strong price environment and put a smile on the face of shareholders with a 74% increase in the annual dividend.
The share price has been on a major gallop for the past 18 months or so, trebling in value at a time when many other sectors are doing well to stand still. The company now has 14 operations in nine countries around the world, and has announced the sale of its remaining SA producing assets to Harmony for somewhere around $300m...