AngloGold Ashanti Q2 gold production rises 9%; ahead of guidance

AngloGold Ashant reports strong Q2 gold production of 1.073Moz, which represents a 9% improvement on Q1, at an estimated total cash cost of $800/oz - $805/oz. The result is better than the company's market guidance for the quarter of 1.04Moz at a total cash cost of $840/oz - $845/oz, due largely to strong operating performances from the group's Continental Africa region and the Americas region. Production from the South African operations also improved over the period, and was 18% higher than Q1 of 2012. Adjusted headline earnings for the quarter are estimated at between $240M-$255M. AngloGold Ashanti will report its operating and reviewed financial results to the market on Aug. 6.