(Kitco News) - AngloGold Ashanti (NYSE: AU), one of the largest gold producers globally, today reported that the company achieved guidance for production, capital expenditure and all-in sustaining costs in 2022.
The company said that gold production for 2022 is expected to be 2.742Moz, compared to 2.472Moz in 2021, ending 2022 in the top half of the guidance range. In addition, the Obuasi gold mine in Ghana is expected to achieve its production guidance for 2022 of 250,000oz.
AngloGold Ashanti noted that total cash costs in 2022 are expected to be less than 1% above the annual guidance range, "despite significant volatility in the macro environment impacting input pricing and inflation across our industry."
"The operational improvements followed solid performances across the portfolio, underpinned by an improving grade profile amidst the ongoing reinvestment programme, and with Obuasi continuing its planned ramp-up," the company said in a statement.
AngloGold Ashanti also pointed out it has reasonable certainty that headline earnings for the period are expected to be between $530 million and $560 million, with headline earnings per share ("HEPS") of between 126 US cents and 133 US cents, a decrease of between 8% to 13% from the comparative period. Headline earnings and HEPS for the comparative period in 2021 were $612 million and 146 US cents, respectively.
Basic earnings for the period are expected to be between $280 million and $315 million, resulting in total basic earnings per share ("EPS") of between 67 US cents and 75 US cents, a decrease of between 49% to 55% from the comparative period. The basic earnings and EPS for the comparative period were $622 million and 148 US cents, respectively.
The company explained that the expected decrease in basic earnings for the period compared to the comparative period is due mainly to non-cash impairments recognized at its Brazilian operations.
AngloGold Ashanti, with its head office in South Africa, is an independent, global gold mining company with a diverse portfolio of operations, projects and exploration activities across nine countries on four continents. The company is one of the largest gold producers globally and the largest on the African continent.
|
| Hecla reports net loss in 2022, says its shareholders are 'well-positioned' for higher silver prices |
