Company Data
| Last traded |
R300.00 |
| Change |
R-1.90 |
| % Change |
-0.63% |
| Cumulative volume |
1.33m |
| Market cap |
R114.79bn |
| Last traded |
R261.89 |
| Change |
R-3.11 |
| % Change |
-1.17% |
| Cumulative volume |
4.99m |
| Market cap |
R351.71bn |
| Last traded |
R110.10 |
| Change |
R0.04 |
| % Change |
0.04% |
| Cumulative volume |
2.94m |
| Market cap |
R79.77bn |
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Johannesburg - Africa's biggest gold miner
AngloGold Ashanti [JSE:ANG] posted second-quarter earnings on Thursday that beat expectations as it managed to contain costs and reap the benefits of a surging gold price.
But it dropped its production target for 2011 to 4.45 million ounces from an initial range of 4.55 to 4.75 million ounces because of flooding at its Sunrise Dam operations in Australia and other operational problems.
Adjusted headline earnings per share rose 68% to 89 US cents in April-June from 53 cents in the previous quarter.
Cash costs came in at $705 an ounce for the quarter but are seen rising for the year.
"The lower production, along with higher fuel prices and stronger local operating currencies in Brazil and South Africa result in total cash cost guidance of $725/oz-$740/oz," the company said.
AngloGold and its rival
Gold Fields [JSE:GFI], which is due to report its earnings next week, were both seen boosting profit in the April to June, helped by higher gold prices and increased output.
The average gold price during the second quarter was up about 9% to $1 509 from the previous quarter's average price.