WATCH: Gold price boosts AngloGold Ashanti’s free cash flow while production edges up

FILE PHOTO: Gold bullion is displayed at Hatton Garden Metals precious metal dealers in London
JOHANNESBURG – AngloGold Ashanti on Monday reported a 3% rise in September quarter production from the previous quarter and a 12% jump in free cash flow thanks to higher gold prices, and said its Obuasi project in Ghana would start by year-end.
The South African gold miner stuck to its annual guidance even as quarterly production was at the lower end of its forecast range and year-on-year production fell, while costs were up 12% year-on-year.
Gross profit jumped 52% from the same quarter last year, to $281 million, and the higher free cash flow helped bring net debt down and improve the company’s leverage.

Source: iol.co.za