FILE PHOTO: A worker pours gold at the AngloGold Ashanti mine at Obuasi, Ghana
JOHANNESBURG - AngloGold Ashanti in the six months to June expects to lift headline earnings to between $111million (R1.57billion) and $129m, with headline earnings per share (Heps) of between 27 US cents and $0.31, the gold producer said in a trading update yesterday. 

Headline earnings and Heps for the comparative period in 2018 were $99m and $0.24, respectively. The group got a boost from paying off final prior period retrenchment costs related to the restructured South African operations, which scored increased earnings of $22m, post-tax, or $0.05 a share. 

The increase in earnings would also be boosted by a Brazilian power utility legal settlement in April of $11m (post-tax) or $0.03 a share, and income from joint ventures, mainly Kibali, increased by $38m (post-tax) or $0.09 a share. 

The basic earnings for the period are expected to be between $106m and $122m, resulting in basic earnings per share of between $0.25 and $0.29.

BUSINESS REPORT