AngloGold Ashanti sees a rise in Q1 earnings

File: AngloGold recently concluded the sale of its mines in South Africa and Mali. 

JOHANNESBURG - It's been a bumpy first quarter for AngloGold  Ashanti.

The miner says it produced 7 percent less gold year-on-year in the first quarter.

Some of this is being blamed on COVID-19 absenteeism at its Ghana and Brazil mines.

READ: Anglogold Ashanti announces increase in earnings

But the good news is that the higher gold price helped cushion the impact.

Its reported headline earnings of R2.8-billion is a 51 percent improvement from the previous reporting period.

Interim Chief Executive Officer Christine Ramon says the group's balance sheet is in a solid position.

She says Obuasi is also making steady progress to completion.


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