AngloGold sees production rise

AngloGold Ashanti, the world’s third-largest gold miner, beat its guidance for third-quarter output and costs yesterday. Production rose three per cent from the previous quarter to 1.162m ounces, above its own forecast of 1.15m ounces. Cash costs rose to $643 per ounce from $617 an ounce in the previous three months, still below guidance of $645 an ounce. Africa’s top gold miner, which has operations across four continents, said output for the year would be 4.5m ounces at a cost of $635 an ounce, at the lower end of its forecast of 4.5m to 4.7m.