But lost production was more than offset by strong performances from the company’s suite of mines around the world and a higher gold price
AngloGold Ashanti’s SA operations lost production worth about R1.7bn to the Covid-19 lockdown, but this was more than offset by generally strong performances from the company’s suite of mines around the world and a sharply higher gold price.
AngloGold is in a $300m disposal of all its assets in SA to Harmony Gold, a deal which has been delayed by Covid. It is busy with the slightly delayed second phase of growth at its rebuilt Obuasi mine in Ghana, one of the most closely watched projects in the company. At a received gold price of $1,642/oz for the quarter and an exchange rate of R16.65/$, the cost of unmined gold in SA was R1.7bn. These assets are treated as discontinued operations by AngloGold.
“Our performance year to date is consistent with our prior guidance, with approximately 3%-4% of annual production being impacted by Covid-19,” AngloGold said.
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