Anglogold beats production guidance

published 6 August 2012

Anglogold Ashanti, the South African gold miner, has beaten production guidance for the six months to the end of June.

Total gold production for the period was 1.07m ounces, after mines in Africa and the Americas performed strongly.

Weaker local currencies helped push cash costs down to $801 per ounce.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Profits before tax came in at $1.16bn, against $1bn for the same period of 2011. Total revenues were $3.478bn against $3.193bn in the prior year.

The quarterly dividend has been announced at 12 cents per share, in line with the group's previous guidance.