Denver — The world’s largest gold producer,
The company says it is in discussions with several unnamed parties.
AngloGold has a record of selling or closing under-performing assets, and both operations, situated in the West Witwatersrand Basin, near Johannesburg, have experienced higher costs during the third quarter.
Elandsrand posted total cash costs of US$313 per oz. during the third quarter, and US$280 per oz. for the first nine months of the year. Higher costs were a consequence of lower production.
Gold production at Deelkraal improved 8%, and total cash costs fell to US$282 per oz., during the third quarter. However, costs remained at US$302 per oz. over the 9-month period.
The two mines represented 127,000 oz. of production in the third quarter, and 404,000 oz. during the 9-month period — less than 10% of the company’s overall production.
Among the Free State operations that could be sold are the Bambanani and Matjhabeng mines.
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