Tuesday, 24th May 2005 (2971 views)

AngloGold Ashanti has announced an eight per cent increase in gold production in its operations in 11 countries.

According to the Ghanaian-South African mining company's 2004 report, which has just been released, it produced a total of 6.052 million ounces of gold from 22 operations last year, up eight per cent on the previous year's production of 5.62 million ounces.

South Africa afforded the company the largest gold yield at 3.079 million ounces, whilst Zimbabwe produced the least, at 9,000 ounces.

Gold income for AngloGold Ashanti in 2004 was up to US $2.4 billion, compared to $2.1 billion in 2003.

"With the business combination of the operation of AngloGold Ashanti complete, overall production is forecast to rise by approximately eight per cent to 6.5 million ounces," the report read, according to the Ghana News Agency (GNA).

"Most of this increased production is expected to come from Obuasi in Ghana, Mponeng in South Africa, Geita in Tanzania, the Malian operations Sadiola and Yatela and Siguiri in Guinea."

In line with this, AngloGold Ashanti expects to increase capital expenditure by 12 per cent to $655 million.

 

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