Comprehensive  Ghana Oil and Gas news, information, updates, analysis


News in Brief

AngloGold delivers strong Q4 results

  • SOURCE: | qwesa2big
  • 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

    Leave a reply

    About Us
    Reporting Oil and Gas project was launched on 4th June 2009 at Takoradi, Western Region, Ghana by Penplusbytes (www.penplusbytes.org) with the vision of providing a one stop online information and knowledge about Ghana’s oil and gas sector read more
    Twitter Activity Stream
     

    Partners We are proud to be associated with:

    Skip to toolbar