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AU - AngloGold Ashanti News Story

$22.27 0.2  0.8%

Last Trade - 5:55pm

Sector
Basic Materials
Size
Large Cap
Market Cap £6.59bn
Enterprise Value £7.17bn
Revenue £3.18bn
Position in Universe 984th / 6852

UPDATE 2-AngloGold Ashanti boosts dividend five-fold on gold price surge

Mon 22nd February, 2021 5:46am
* Headline earnings per share more than doubles 
    * Shareholders' payouts five times bigger
    * Pandemic drives 7% production drop, costs rise 6% 

 (Adds comments from interim CEO Christine Ramon)
    By Helen Reid
    JOHANNESBURG, Feb 22 (Reuters) - AngloGold Ashanti  ANGJ.J 
on Monday joined other global gold miners in boosting payouts to
shareholders after reporting a leap in annual earnings following
a 25% increase in gold prices last year.
    The miner declared a full-year dividend of 7.05 rand per
share, more than five times the 2019 dividend when translated
into U.S. cents, thanks to a weakening of the U.S. dollar
against the rand last year. 
    Headline earnings for the full-year 2020 were 238 U.S. cents
per share, more than double the 91 U.S. cents per share reported
in 2019.
    AngloGold, which has mines in Ghana, Tanzania, and
Democratic Republic of Congo as well as Argentina, Australia,
and Colombia, said earlier this month it expected earnings to
almost triple.  urn:newsml:reuters.com:*:nL4N2KF1F7
    Production fell 7% in 2020 to 3.047 million ounces from
3.281 million ounces due to the COVID-19 pandemic, the sale of
the remaining South African assets to Harmony Gold, as well as
the sale of the Sadiola and Morila mines in Mali.
    All-in sustaining costs increased 6.1%, from $998 per ounce
to $1059 per ounce, with most of the cost increase caused by the
pandemic, AngloGold said.
    AngloGold Ashanti interim CEO Christine Ramon said the
process for finding a permanent CEO is "well advanced." Ramon
took over on Sept. 1 last year when Kelvin Dushnisky stepped
down. 
    AngloGold would be interested in acquiring the remaining 30%
of Australia's Tropicana from its joint venture partner IGO
 IGO.AX  "at the right value," Ramon said. IGO has been
reviewing its stake since September.  urn:newsml:reuters.com:*:nL4N2G7429

 (Reporting by Helen Reid; Editing by Christian Schmollinger and
Uttaresh.V)
 ((Helen.Reid@thomsonreuters.com; +27 66 156 5214;))
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