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Friday, 10th February 2006 (4178 views)

Mining firm AngloGold Ashanti has announced a fourth quarter gold production of 1.494 million ounces, a drop of three per cent.

The South African firm states that its costs were down by two per cent in the same period as its gold price rose ten per cent during the three months to £271 per ounce.

For the entire year, the company claims a six per cent rise in gold production to 6.166 million ounces.

The firm has high hopes for the coming years, forecasting an increase in gold production in 2007.

The company said in a statement: "Based on current planning and due to a range of major capital projects in South Africa and Brazil in particular, gold production in 2007 is expected to increase by between six per cent and eight per cent."

Gold production is expected to be between 5.8 and 6.1 million ounces this year.

 

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