https://www.miningweekly.com

Mali, Ghana mines weigh on AngloGold Q2 results

Mali, Ghana mines weigh on AngloGold Q2 results

Photo by Bloomberg

25th July 2014

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

Font size: - +

JOHANNESBURG (miningweekly.com) – Gold producer AngloGold Ashanti’s closure of its Yatela mine, in Mali, and the ongoing restructuring at its Obuasi mine, in Ghana, would likely drag down earnings for the second quarter.

AngloGold embarked on the implementation of a range of interventions to deal with the historic underperformance of Obuasi and close the Yatela mine following a sharp decline in the gold price.

“Over the past 18 months, AngloGold has taken decisive steps to adapt [and] reduce costs, [as well as] improve the overall quality of its portfolio to improve cash flow and returns,” the company said in a statement on Friday.

To watch Creamer Media's latest video reports, click here
 

Edited by Creamer Media Reporter

Comments

Showroom

GreaseMax
GreaseMax

GreaseMax is a chemically operated automatic lubricator.

VISIT SHOWROOM 
John Deere (Pty) Ltd
John Deere (Pty) Ltd

In 1958 John Deere Construction made its first introduction to the industry with their model 64 bulldozer.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Hyphen, Eva mine, ferrochrome price make headlines
Hyphen, Eva mine, ferrochrome price make headlines
27th March 2024
Resources Watch
Resources Watch
27th March 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.111 0.148s - 106pq - 2rq
Subscribe Now