AngloGold FY13 Production Rises

(RTTNews) - AngloGold Ashanti Ltd. (AU), a global gold mining company, Wednesday reported a rise in production for the year 2013, the first time in nine years. In addition, the company expects additional profitable production growth in 2014.

Annual production rose to 4.105Moz from 3.944Moz in 2012. The is the first time annual output increased since 2005, the company said.

All-in sustaining costs or AISC declined to $1,174/oz from $1,251/oz last year. AISC is a measure designed using the World Gold Council framework to represent all of the cost and capital expenditure required to produce an ounce of gold.

For the fourth quarter of 2013, the company reported production of 1.229Moz and AISC of $1,015/oz.

EBITDA for the 3-month period was $544 million and adjusted headline earnings, normalized for various items, were $164 million.

For 2014, the company expects production to increase to 4.2Moz to 4.5Moz at a total cash cost of $750/oz to $790/oz. AISC is expected to improve to the range of $1,025/oz to $1,075/oz

AngloGold Ashanti expects capital expenditure for the year to be between $1.3 billion and $1.45 billion.