ABX reports Q2 production of 1.485M oz. at all-in sustaining costs of $865/oz., and says the cost improvement "in a lower production quarter clearly demonstrate our ongoing and relentless focus on company-wide cost management."
Q2 results included a $514M impairment charge related to ABX's Jabal Sayid mine in Saudi Arabia in which it sold a 50% interest; year-ago results included $8.7B in charges, mostly related to its Pascua-Lama project in South America.
Cuts 2014 all-in sustaining cost guidance to $900-$940/oz. vs. a previous forecast of $920-$980; also cuts operating cost guidance to $580-$630/oz.
Also cuts its 2014 capex guidance range to $2.2B-$2.5B from $2.4B-$2.7B.
Maintains full-year production forecast at 6M-6.5M oz.