South Africa’s AngloGold swings to Q4 HES USD 0.62 profit with lower output

By bne IntelliNews February 19, 2010
Reuters reported AngloGold Ashanti posted a Q4 HES USD 0.62profit from a Q3 loss, when the group was impacted for trimming forward sales.The company said output in Q4 was slightly lower at 1.18 million ounces owingto safety stoppages at mines in South Africa. Cash costs rose 12 % to USD 598 anounce. AngloGold forecast Q1 production for 2010 at 1.07 million ounces, at atotal cash cost of about USD 660 an ounce, the agency said. The company hasbeen working at its hedge book to increase exposure to rises in the spot priceof gold. The company declared an H2 dividend of ZAR 0.70 (USD 0.09).

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