JOHANNESBURG - AngloGoldAshanti yesterday warned that it would report losses in the year ended December 2017 after incurring retrenchment costs, a silicosis class action settlement claim and a non-cash impairment, all at its South African assets.
AngloGold, the world’s third largest gold producer, produced 3.755 million ounces for the period compared to 3.628million ounces for the year ended December 31, 2016.
It had achieved a stronger performance in the second half of 2017, producing 2.007million ounces, compared to 1.748million ounces in the first half, an increase of 15percent. Anglogold expects headline earnings for the period to be between $16million (R191.4m) and $38m, with headline earnings per share of between 4cents and 9c.
- BUSINESS REPORT