JOHANNESBURG (miningweekly) – Two revenue-boosting gold projects are in the money for AngloGold Ashanti in the nick of time.
Just when the gold-mining industry is seeing capital-expenditure blowouts, South Africa’s biggest gold producer will be cheering in 600 000 oz of gold costing less than $700/oz from brand new projects.
At the same time, savings of $482-million are also expected to be achieved, which should reposition the company well as it enters 2014.
Current all-in sustaining costs of $1 200/oz for the year are expected to be reduced by another $200/oz from the exploration- and corporate-cost savings and the direct cost savings.
In that way the company will keep ahead of the gold price by taking the company down to an all-in sustaining cost level of $1 000/oz.
Even at the relatively low current gold price of $1 291.80/oz, the $591/oz margin that the new Tropicana project in Australia and the Kibali project in the Democratic Republic of Congo presents is solid and will come on top of the company ensuring that its normal operations meet their targets.
Read the rest of the story online here: Revenue-boosting #gold projects in the money in the nick of time
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