Tough quarter for AngloGold

THE numbers moved in the wrong direction during the March quarter for gold miner AngloGold Ashanti, which recorded decreased production at increased cash costs, with hedging commitments biting hard.

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AngloGold produced 1.34 million ounces during the quarter at cash costs of $US308 per ounce compared with the previous quarter’s result of 1.49Moz at cash costs of $278/oz.

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