Skip to Content
Global News Select

AngloGold Ashanti Suspends 2021 Production Guidance After Mine Accident

   By Ian Walker 
 

AngloGold Ashanti Ltd. said Wednesday that it is suspending production guidance for 2021 following an accident at the Obuasi Gold Mine in Ghana last week, which will delay the ramp-up of production at the mine.

The Johannesburg-based mining company said production guidance for Obuasi for this year was 300,000 ounces of gold to 350,000 ounces, at an estimated total cash cost of $660 per ounce to $710/oz.

The mine produced 46,000 ounces in the first quarter of 2021 at a cost of $968/oz, AngloGold said, adding that production for the second quarter of the year up until the mine was suspended on May 18 was 34,000 ounces.

The company said the search for the missing miner is continuing and that mining activities remain suspended.

 

Write to Ian Walker at ian.walker@wsj.com

 

(END) Dow Jones Newswires

May 26, 2021 09:21 ET (13:21 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams. And we have unwavering standards for how we keep that integrity intact, from our research and data to our policies on content and your personal data.

We’d like to share more about how we work and what drives our day-to-day business.

We sell different types of products and services to both investment professionals and individual investors. These products and services are usually sold through license agreements or subscriptions. Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management. We also sell both admissions and sponsorship packages for our investment conferences and advertising on our websites and newsletters.

How we use your information depends on the product and service that you use and your relationship with us. We may use it to:

  • Verify your identity, personalize the content you receive, or create and administer your account.
  • Provide specific products and services to you, such as portfolio management or data aggregation.
  • Develop and improve features of our offerings.
  • Gear advertisements and other marketing efforts towards your interests.

To learn more about how we handle and protect your data, visit our privacy center.

Maintaining independence and editorial freedom is essential to our mission of empowering investor success. We provide a platform for our authors to report on investments fairly, accurately, and from the investor’s point of view. We also respect individual opinions––they represent the unvarnished thinking of our people and exacting analysis of our research processes. Our authors can publish views that we may or may not agree with, but they show their work, distinguish facts from opinions, and make sure their analysis is clear and in no way misleading or deceptive.

To further protect the integrity of our editorial content, we keep a strict separation between our sales teams and authors to remove any pressure or influence on our analyses and research.

Read our editorial policy to learn more about our process.