AngloGold Ashanti Limited
(ASX:AGG) says full-year production and second-quarter earnings will come in lower than expected, even though second-quarter production was in line with expectations.
The world’s third largest gold miner says it produced 935,000 ounces of gold in the second quarter at a total cash cost of between $994 to $1016 per ounce.
The results were in line with market guidance of 900,000 to 950,000 ounces and within the cost forecast.
But AngloGold lowered its full-year guidance for 2013 to between 4 million and 4.1 million ounces, from between 4.1 million and 4.4 million ounces.
The miner also warned a drop in the gold price would hit its second-quarter earnings, due out next month.
Anglogold generated a net profit of $817.6 million in it 2012 financial year.
