LONDON (SHARECAST) - Headline earnings at AngloGold Ashanti soared 111% to $129m in the second quarter thanks to reduced costs and rising output in South Africa and the Americas.
"This is the kind of earnings growth we can generate when our operations start firing on all cylinders,'' said boss Mark Cutifani.
“With that performance and a strong gold price as we continue to reduce the hedge book, medium to long-term cash generation potential is significant."
Adjusted headline earnings were just $61m, or 17 cents a share, during the first quarter and production was 1.08m ounces (Moz) compared with 1.13Moz in the three months to 30 June.
Third-quarter production is expected to rise to 1.15Moz.
