Home   >   Business   >   Business News   >   201306
AngloGold Ashanti Increase Share Capital   
  << Prev  |  Next >>
Comments ( 0 )     Email    Print
Related Stories
The issued ordinary shares of AGA increased to 382,812,185 as at June 30, 2012. This was as a result of the issue and listing of additional ordinary shares in June, 2012 on the Johannesburg Securities Exchange, South Africa.

AngloGold Ashanti, earlier in February, announced full-year adjusted headline earnings of US$924m, the second-highest on record, despite a difficult year in which an unprotected strike and safety stoppages caused major disruption to its South African operations.

The company is planning to deliver higher margin production from its South African mines, which were shuttered by a strike between the end of September and the beginning of November.

Exploration spending across the group has been rationalised, corporate and operating costs are undergoing a review, some assets deemed to be non-core are being considered for sale and capital expenditure has been prioritised.

Weve moved decisively to ensure that we continue a strong recovery from a difficult end to last year, Joint Interim Chief Executive Officer Tony ONeill said. ONeill has oversight of all operating and exploration functions, while fellow joint interim CEO Srinivasan Venkatakrishnan has accountability for all financial and corporate matters.

AHE for the year was US$924m, or 239 US cents a share, which included about $208m lost to the strike, compared with US$1.3bn, or 336 cents a share in 2011.

Production in 2012 was 3.94Moz at a total cash cost of $862/oz, which included about 235,000oz lost to the strike. AngloGold Ashanti continues to seek to improve the quality and diversity of its portfolio.

The main greenfield projects at Tropicana in Australia, and the Kibali joint venture in the Democratic Republic of Congo, remain on track to produce gold within a year. The expansion of Cripple Creek & Victor, in the US, also remains on track.
Source: Graphic Business

Comments ( 0 ): Post Your Comments >>

Disclaimer: Opinions expressed here are those of the writers and do not reflect those of Peacefmonline.com. Peacefmonline.com accepts no responsibility legal or otherwise for their accuracy of content. Please report any inappropriate content to us, and we will evaluate it as a matter of priority.
Featured Video