Seeking Alpha

AngloGold Ashanti posts full-year loss but returns to production growth

  • AngloGold Ashanti (AU +0.4%) says it posted its first annual growth in gold production in nine years as new mines started production, giving it room to review other assets in its portfolio.
  • Production in 2013 was 4.1M oz. vs. 3.94M oz. in 2012, the first time yearly production increased since 2005; all-in sustaining costs for the year were $1,174/oz. vs. $1,251/oz. the previous year and costs dropped to $1,015/oz. by Q4.
  • Reports total attributable production of 106K oz. of gold at an average cash cost of $532m/oz. from its new Tropicana and Kibali projects in Australia and the Democratic Republic of Congo, respectively.
  • Forecasts production of 4.2M-4.5M oz. of gold during 2014 at a total cash cost of $750-$790/oz.; says 2014 capex would come down by nearly a third to ~$1.45B.
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs