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AngloGold delivers strong Q4 results

minersAngloGold 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.

source: http://classfmonline.com/1.8704146

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