South African output rises as AngloGold delivers at lower cost

JOHANNESBURG ( – The smaller South African footprint of gold-mining company AngloGold Ashanti, consisting of one underground mine and one tailings treatment operation on surface, delivered impressive first-quarter results with rising production and reduced rand-denominated costs.

Production rocketed 29% at Mponeng, the world’s deepest mine, where all-in sustaining costs (AISC) in rands fell by 14%, and production at surface material treatment operation Mine Waste Solutions jumped 17% and AISC declined by 5%.

Speaking to journalists in an early morning media conference, outgoing AngloGold Ashanti CEO Srinivasan Venkatakrishnan (Venkat) said debt is down 14% to $1.77-billion and cash flow from operating activities up 26% to $117-million.

With margins rising to 23% from…

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