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AngloGold Q2 profit to be hit by Mali, Ghana costs

  • AngloGold Ashanti (AU +2.1%) says Q2 profit will be hurt by costs related to the closing of its Yatela mine in Mali and reorganizing operations in Ghana.
  • AU also says it will provide for a $51M (537M rand) writedown on its 42.4% stake in Rand Refinery, which processes gold in South Africa.
  • Harmony Gold (HMY +1.1%), a partner in Rand, says it will make a 125M rand provision, and Sibanye Gold (SBGL -8.2%), also with an ownership stake in the refinery, will write down 316M rand.
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