AngloGold Ashanti expects its basic earnings for the six months ended 30 June 2023 to be between $25 million and $54 million, resulting in basic earnings per share (EPS) between 6 and 13 US cents, a decrease of 82% to 92% compared to the prior-year period.
Comparative basic earnings and earnings per share were $298 million and 71 cents, respectively.
It predicted that the period's headline earnings would be between $125 million and $155 million, with headline earnings per share (HEPS) between 30 and 37 cents, a decrease of 48 to 58 percent compared to the prior period.
The headline earnings and HEPS for the prior year were $300 million and 71 cents, respectively.
Due to non-cash impairments and derecognitions in Brazil, the anticipated decline in basic earnings for the period compared to the prior period was $103 million after taxes, or 24 cents.
Cuiabá's Queiroz metallurgical factory, Córrego do Stio, suspended operations due to operational underperformance during the buttress at Calcinados tailings storage facility and derecognition.
Anglo Gold expects gold production for the period to reach 1.236Moz (million ounces), compared to 1.233Moz during the prior period.
Following a stronger second quarter, it predicted that gold production would be marginally higher year-over-year, with enhanced production contributions from Obuasi, Sunrise Dam, Geita, Iduapriem, and Tropicana operations.
The increase in gold production was also driven by a higher overall recovered grade for the group, partially offset by lower tonnes processed.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
