AngloGold Ashanti has said it delivered another strong operating and financial result for the three months ended 31 December 2015 ahead of cost and production guidance despite safety-related stoppages that lowered output in South Africa.
It said in its Q4-15 and full-year report that it recorded a fourth-quarter production of 997,000oz, which was 14% lower than the corresponding period in 2014, but 2% better than the prior quarter and better than guidance of 900,000oz-950,000oz.
It said AISC of $860/oz were 14% better than the corresponding period in 2014, reflecting rigorous cost and capital allocation discipline across the company.
AngloGold said South Africa started to show a modest recovery from its operational challenges related principally to safety disruptions in the first three quarters of the year.
While production was 16% lower than the corresponding period in 2014, it was – as previously flagged – consistent with the third quarter at 252,000oz, AngloGold noted, adding that AISC of $988/oz was 10% better than the fourth-quarter of 2014, and 16% better than the previous quarter.
It said its international operations delivered production of 745,000oz at AISC of $786/oz, which corresponded to a 7% decrease in production but a 17% improvement in AISC on the same quarter of 2014.