AngloGold Ashanti confirms that its mines in South Africa remain at a standstill amid the unprotected strike which began on 20 September 2012 at the Kopanang operation and spread to the remaining five operations on 25 September 2012. Our priority remains to protect the safety of our employees and the communities in which we operate and we continue to work with the authorities to that end. AngloGold Ashanti has safeguarded [...]
Workers at AngloGold Ashanti's South African operations have embarked on an unprotected strike, preventing the commencement of the night shift on September 25. Workers at the West Wits and balance of the Vaal River Regions' operations joined those at Kopanang, who embarked on an unprotected work stoppage on September 20. This interruption to normal mining and processing operations comes amid unprocedural disruptions [...]
An unprotected strike at AngloGold Ashanti's Kopanang operations prevented the night shift from taking place on September 20, 2012. The strike is currently confined to this single mine. Management's priority is to maintain safety, peace and stability at the site and to continue a constructive dialogue with all employees, their representatives and other stakeholders. The company is following the necessary procedures and an [...]
AngloGold Ashanti improved on cost and production guidance for the second quarter and kept its four key growth projects on track and budget despite challenging operating conditions for the global gold sector. The expansion of the Cripple Creek & Victor mine in Colorado, as well as the development of the Kibali and Mongbwalu mines in the Democratic Republic of Congo and the new Tropicana mine in Western Australia all [...]
AngloGold Ashanti is pleased to announce that it has signed a new US$1 billion, five-year unsecured revolving credit facility (RCF) maturing in July 2017 with its banking syndicate. This replaces the existing four-year, US$1bn unsecured RCF maturing in April 2014. The new RCF was significantly over-subscribed. The new facility improves the overall tenor and maturity profile of the group's existing debt facilities and [...]
AngloGold Ashanti is pleased to report strong second quarter gold production of 1.073Moz, which represents a 9% improvement on the first quarter, at an estimated total cash cost of $800/oz - $805/oz. The result is better than the company's market guidance for the quarter of 1.04Moz at a total cash cost of $840/oz - $845/oz, due largely to strong operating performances from the group's Continental Africa region and the [...]
As conditions in Europe continue to worsen investors have been looking to gold as a safe haven, providing a boost for gold stocks. The Market Vectors Gold Miners ETF (GDX) has surged over 9 percent in the last month. According to the Industrial and Commercial Bank of China Ltd. (ICBC) gold-investment demand in China is expected to grow more than 10 percent this year. Five Star Equities examines the outlook for companies [...]
AngloGold Ashanti, which currently holds, through its subsidiaries, a 50% interest in the Serra Grande (Crixás) mine in Brazil, has agreed to acquire the remaining 50% stake in the mine from Kinross Gold for US$220 million in cash. The transaction will be funded from existing cash reserves and debt facilities and remains subject to various conditions, detailed below.
In 2011, the Serra Grande mine produced 134,000oz of [...]
AngloGold Ashanti posted first-quarter adjusted headline earnings of $429m, more than double the same period a year earlier, and approved the development of three growth projects. The company's board gave the go-ahead to invest $1.9bn over the coming five years to expand the Cripple Creek & Victor mine in the US and develop the Mongbwalu and Kibali projects in the Democratic Republic of Congo. The projects will be funded [...]
AngloGold Ashanti, at the time of its full year 2011 earnings release, guided first quarter 2012 gold production at 1.03Mozs at total cash costs of $820/oz - $835/oz at an average exchange rate of R7.40/$, BRL1.70/$, A$1.01/$, and AP4.35/$ and fuel at $110/barrel. The Company further pointed out that both these estimates could see downside risk in the light of safety related stoppages which were being experienced at its [...]
AngloGold Ashanti announces that it has today, Wednesday, 4 April 2012, published the group's suite of reports for the financial year ended 31 December 2011. The posting to shareholders of the Annual Financial Statements and the Notice of the Annual General Meeting commenced today. The Annual Financial Statements for the year ended 31 December 2011 on which Ernst & Young Inc. issued an unmodified review report do not [...]
JAngloGold Ashanti is pleased to acknowledge that Moody's Investors Service today upgraded the issuer rating of AngloGold Ashanti Limited to Baa2 from Baa3, together with upgrading the senior unsecured debt obligations of the company's guaranteed subsidiary to Baa2, in recognition of significant improvements in the company's balance sheet position and operational performance.
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