Friday, 30th July 2004 (3299 views)

AngloGold Ashanti Ltd has revealed its second quarter and first half profit results today.

Due to falling gold prices, the firm posted lower results than normal with pre tax profits at 301 million rand during the six months to June 30.

In addition the South African miner reported that the production for the quarter increased 21 per cent to 1.49 million ounces.

According to ample, the company said: "The second quarter of the year saw a major correction in the three-year rise in the spot price of gold.

"Until this quarter, the US dollar spot price of gold had risen every quarter since the beginning of 2001 (except for a slight retracement in the second quarter of 2003)."

The group hopes to produce 310,000 ounces of gold for the third quarter of 2004.

 

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