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Name | Symbol | Market | Type |
---|---|---|---|
AngloGold Ashanti Ltd | NYSE:AU | NYSE | Depository Receipt |
Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-0.02 | -0.09% | 23.12 | 23.225 | 22.45 | 23.02 | 1,619,417 | 01:00:00 |
By Adam Clark
AngloGold Ashanti Ltd. (ANG.JO) said on Wednesday that it expects to report a loss for 2017 despite a rise in full-year production, having taken impairment, restructuring and provision charges during the year.
The South African gold producer said it expects to report a basic loss of between $180 million and $200 million for 2017, compared with a $63 million profit the year before.
Headline earnings, which exclude certain non-cash costs, are expected to be between $16 million and $38 million for 2017, or between 4 cents and 9 cents per share. This compares with headline earnings of $111 million and headline earnings per share of 27 cents in 2016.
AngloGold Ashanti said the decrease in earnings was primarily due to previously disclosed factors, including $221 million in non-cash impairment and derecognition of South African assets, $71 million in restructuring charges, and a $46 million non-cash provision for the settlement of class-action claims.
Full-year gold production rose to 3.8 million ounces for the period from 3.6 million ounces in 2016. AngloGold Ashanti said its second-half production rose 15% from the first half, to 2 million ounces. All-in sustaining costs and capital expenditure for the year remained within market guidance, said the company.
Write to Adam Clark at adam.clark@dowjones.com
(END) Dow Jones Newswires
January 31, 2018 01:43 ET (06:43 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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