AngloGold Ashanti, the world’s third largest gold miner, said Wednesday it was considering 8,500 job cuts in South Africa as part of a turnaround strategy to curb losses. “This restructuring contemplates some 8,500 roles across AngloGold Ashanti’s South African business,” the Johannesburg-based company said in a statement. It said challenges faced in South Africa included … Read more
Anglogold Ashanti has stated that it has set new safety records and achieved its first ever March quarter without a fatal accident, as it reported operating results for the three months to 31 March, 2017. According to the Chief Executive Officer of AngloGold Ashanti, Srinivasan Venkatakrishnan, the gold mining company also maintained its full-year guidance. … Read more
AngloGold Ashanti has said it has set new safety records and achieved its first-ever March quarter without a fatal accident, as it reported operating results for the three months to 31 March 2017. The company also maintained its full-year guidance. AngloGold Ashanti, which operates the world’s deepest mines, has passed 282 days without a fatal … Read more
AngloGold Ashanti lifted force majeure on its Ghanaian Obuasi mine on Tuesday after the removal of thousands of illegal miners but said it was too early to determine the extent of damage to the loss-making, mothballed operation. The move is significant for AngloGold, which has said it could sell or redevelop the mine. It also … Read more
Ghana’s President, Nana Akufo-Addo, has said miner Randgold Resources has renewed its interest in partnering AngloGold Ashanti to start operations in the West African country’s Obuasi mines. In September 2016, Randgold Resources CEO Mark Bristow, speaking at a media briefing in Johannesburg, said his firm walked from a proposed joint venture with AngloGold Ashanti on … Read more
Illegal miners have “largely been cleared” from AngloGold Ashanti’s Obuasi mine and the company can now explore a number of options for the asset including its possible sale or redevelopment, Chief Executive Srinivasan Venkatakrishnan has said. The invasion of the loss-making, mothballed operation by thousands of illegal miners made the asset a toxic one that … Read more
AngloGold Ashanti has announced a significant jump in third-quarter free cash flow to $161m, further improving its net debt position despite a decline in ore grades at some of its operations and a challenging operating environment for its South African business. Free cash flow was $161m, before the $30m once-off cost incurred for the early … Read more
Even though gold prices on the world market continues to plummet, AngloGold Ashanti a mining giant saw a significant jump in its cash flow to 161 million dollars, further improving its net debt position in the third-quarter of this year. With gold now trading around 1,222 an ounce and decline in ore grades at some … Read more