AngloGold Ashanti Sees Swing to 2016 Underlying Profit
February 02 2017 - 10:00AM
Dow Jones News
By Razak Musah Baba
LONDON--AngloGold Ashanti Ltd. (ANG.JO) said Thursday it expects
to post a swing to underlying profit in 2016 as a result of higher
gold price, positive currency translation and cost-control during
the period.
The South African miner expects headline earnings for the year
ended Dec. 31 to be between $104 million and $118 million, with
headline earnings per share between 25 cents and 28 cents. This
compares with 2015's headline loss and headline loss per share of
$73 million and 18 cents, respectively.
The company also said 2016 gold production, total cash costs,
all-in-sustaining costs and capital expenditure are all expected to
be in line with its guidance.
AngloGold said the expected overall increases in earnings
reflect a higher gold price and weaker operating currencies in
Argentina, Brazil and South Africa compared with a year
earlier.
AngloGold also attributed the improved performance to its
continued focus on cost control across its portfolio of 17
operations in nine countries.
-Write to Razak Musah Baba at razak.baba@wsj.com; Twitter:
@Raztweet
(END) Dow Jones Newswires
February 02, 2017 09:45 ET (14:45 GMT)
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