AngloGold Ashanti's rough year reflected in Q4 report
AngloGold Ashanti's net debt grew to $2 billion by 2012 Q4, including $208 million of lost earning as a result of striking South Africa miners.
Production was down significantly from 2011 to 2012:
AngloGold’s fourth-quarter gold production was 859,000oz at a total cash cost of $1,009/oz, compared with 1,1-million ounces at $762/oz for the same period last year.
The South African operations produced 171,000oz at a total unit cash cost of $1,166/oz in the quarter, compared with 398,000oz at $696/oz in the same period last year.
AngloGold CEO Mark Cutifani pointed to successes with assets outside of Africa and is moving the company towards "a leaner business," with an "absolute focus on costs and capital efficiency." AngloGold is currently in the process of selling its Navachab mine in Namibia.