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AngloGold Ashanti climbing its mountain of debt

The company continues to drive efficiencies but some operations appear to be unsustainable in the current gold price environment.

Warren Dick | 17 August 2015 12:53

HANNESBURG – AngloGold Ashanti continues to make good strides in driving efficiencies and confronting its mountain of debt in the current low price gold environment.

The company reported second quarter and half-yearly interim results today that saw total production for the six-month period from continuing operations fall by 8.4% to 1,878koz versus the same period last year.

But the story of AngloGold Ashanti is the need to drive efficiencies in order to manage its large debt burden in the weak gold price environment. This saw All-In Sustaining Costs (AISC) from continuing operations fall from $1,022/oz for the six months ending June last year, to $924/oz in the current period, a reduction of 10%.

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