AngloGold Ashanti delivered a steady operating and financial performance in the second half of 2016, with production coming in at 1.9 million ounces (oz) compared to 2 million oz in 2015. This operating result was achieved despite safety-related stoppages that impacted output by roughly 60,000 oz, planned lower grades at Geita and Tropicana, and the Obuasi mine having been on care and maintenance since last year. These negative production factors were partly offset by a focus on tight cost control, a 14% higher realized gold price, and weaker currencies in some jurisdictions, the company said.
All-in sustaining costs for second half of 2016 was $1,058/oz, higher than the $897/oz for the second half of 2015 due mainly to lower gold ounces sold, higher overall cash costs, higher brownfields exploration costs and increased sustaining capital expenditure, AngloGold said.
