AngloGold Ashanti flags steady production and 15% reduction in net debt

Company News

by Anna Napoli

AngloGold Ashanti (ASX:AGG) has announced its third-quarter operating results, with steady production and a 15 per cent reduction in net debt.

Production from retained operations after stripping out the South Africa asset sales was down slightly at 851 thousand ounces compared to 853 thousand ounces for the same time last year.

The global gold miner's free cash inflow was $34 million for the quarter compared with $88 million in the same quarter last year.

Free cash flow was affected by the 5 per cent lower gold price received, lower sales volumes and adverse working capital changes.

The miner says production for the full year remains forecast for the top end of the guidance range while costs are expected on the lower end.

Shares in Anglo Gold Ashanti (ASX:AGG) closed 1.83 per cent higher to $2.79 yesterday


 

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.