AngloGold Ashanti : Warns on 1st Half Earnings
By Tapan Panchal
LONDON--AngloGold Ashanti Ltd. (ANG.JO) warned Tuesday that it would post a loss for the first half of 2017 due to higher operating costs, exceptional charges and lower income from associates and joint ventures.
The South African gold miner expects to record an adjusted loss of between $80 million and $98 million for the half year ended June 30, compared with a gain of $93 million in the year-before period.
Adjusted loss per share is expected to total between 19 cents and 23 cents, versus 23 cents earnings a year earlier.
First half basic loss is estimated at between $167 million and $185 million, compared with a profit of $52 million in the comparable period. Basic loss per share is forecast at between 41 cents and 45 cents, versus 13 cents in earnings per share.
AngloGold expects first half gold production to total 1.748 million ounces, versus 1.745 million ounces previously.
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