AngloGold Ashanti Limited
(ASX:AGG) says it has swung into profit in the third quarter, after increasing output and reducing production costs.
The South-Africa-based bullion producer generated a shareholder profit of $US1 million in the quarter.
In the previous quarter the firm reported losses of nearly $US2.2 billion on massive write-downs linked to the slumping gold price.
The profit was achieved by a mixture of higher production, cost cutting and a weaker South African rand.
In the last quarter, production increased by 12 per cent to one million ounces, with major increases seen in its Namibian and Ghanaian operations.
AngloGold booked a net loss of close to $2.1 billion in the first half of fiscal 2013.
